Transcript Highlights:

• Provider tax.
• All of our taxes, provider taxes, and we have three of those, two others outside the hospital taxes,
• Um there's several reasons why taxing.
• <00:49:31.920><c> abdment</c> and disperses the tax abdment and disperses the tax abdment tax<00:49:34.079
• </c><01:05:59.280><c> those</c> is to tax uh those uh not tax those is to tax uh those uh not tax those

Committee: Joint Medicaid

Keywords: Medicaid - Room 216, 4 February, 2026; 2:00 PM, 925, all

Transcript Highlights:

• No one likes to pay taxes. The state doesn't like to pay taxes.
• Employees don't like to pay taxes, and employers don't like to pay taxes.
• No one likes to pay taxes. The state doesn't like to pay taxes.
• against its tax.
• taxes.

Summary: The committee heard public hearings on several bills. HB 2675 would eliminate a number of state accounts and transfer remaining balances from two accounts to the general fund, while also changing how revenues in the Salary Insurance Contribution Increase Revolving Account are deposited; OFM testified in support and there was no public opposition. SHB 1903 would create a statewide low-income energy assistance program through the Department of Commerce, funded by the general fund and Climate Commitment Act revenues; supporters said it would address Washington’s underfunded and uneven energy assistance system, while utilities and rural co-ops raised concerns about cost, reporting burdens, utility authority, and implementation details. SHB 2384 would require actuarial reviews for certain continuing care retirement communities with prepaid life care contracts; residents and consumer advocates supported the added transparency, while providers opposed the added review costs and said they already pay for actuarial work. SHB 1982 would expand the ability of tribal members to vacate convictions tied to treaty rights, add OPD representation and a tribal liaison position, and then an amendment was described that would remove the liaison position and eliminate the fiscal impact; the sponsor and OPD supported the bill, and testimony emphasized correcting past treaty-rights convictions. The committee also heard SHB 2389, a broad juvenile justice bill that would expand suspended disposition options, create midpoint review hearings, reduce some robbery ranges, and address juvenile rehabilitation capacity and transfers. Supporters argued it would reduce racial disparities, favor community-based rehabilitation when safe, and improve outcomes, while prosecutors, sheriffs, counties, judges, cities, victim advocates, and some tribal law enforcement warned it would weaken accountability for serious violent offenses, increase court and local government burdens, and shift costs without funding. Several witnesses and the bill sponsor discussed proposed amendments, including removing presumptions and the mid-sentence review. The committee then heard SHB 2439, which would raise tobacco and vapor product license fees, create a responsible vendor program, add manufacturer certification and enforcement provisions, restrict certain products and sales practices, and redirect tobacco tax revenue to public health, cancer research, and youth prevention accounts; public health and prevention groups supported it, while retailers and industry representatives opposed the fee increases and some of the new restrictions. Finally, HB 2681 would sharply increase cannabis license fees and index them to inflation; OFM supported the change as aligning fees with program costs, while cannabis businesses and associations opposed or sought changes to the fee structure and CPI indexing. The committee also heard a briefing on SHB 2215, which would require the Caseload Forecast Council to forecast SNAP and state food assistance caseloads in light of upcoming federal cost-sharing changes; no questions were raised at the briefing.

Transcript Highlights:

• Tax credits are allowed up to $5,000 to be received on the tax paid.
• Several neighboring states and other states considered tax legislation this year that was similar, but
• You would have to; you need that for your taxes just like you do your other taxes.
• And they would be able to get a tax credit at the end of... able to get a tax credit at the end of the
• additional tax?

Bills: HB297

Committee: House Financial Services

Keywords: cash transactions, money transmission, regulatory compliance, criminal penalties, Alabama Securities Commission, 1136, house, all

Transcript Highlights:

• It'd be a severance tax.
• And he suggested that maybe it is time to look at a severance tax on wind energy.
• </c> severance tax on wind energy. severance tax on wind energy.
• tax and we And so if we had a severance tax and we banked<00:19:59.760><c> that</c> banked that banked
• </c> Senator Case's thing with with severance Senator Case's thing with with severance taxes<01:20:39.320

Keywords: 916, all

Summary: The Joint Revenue committee met with a quorum and heard a series of interim topic proposals focused on tax policy. Representative Brown raised two ideas: reinstating an exemption reporting requirement for corporations and entities receiving tax exemptions, with loss of the exemption for the current and prior year if they fail to report, and revising property tax treatment for wind turbines and related infrastructure by shifting the taxed footprint from agricultural to industrial classification. Senator Case and others then discussed energy taxation more broadly, including a possible generation tax for electricity, how to handle large data-center electricity loads, and whether sales tax revenue from very large electrical loads should be shared statewide rather than concentrated locally. The committee referenced prior bills and studies, including House Bill 300 and Senate File 76, and discussed using a mechanism that would keep local electricity bills net neutral while redirecting revenue distribution. The committee also took up problematic gaming and program funding. Senator Case described personal experiences with gambling addiction and the lack of available resources, while the presenter said the topic had been requested in multiple committees and that the biggest concern from House Bill 171 was protecting county and municipal funding. Members discussed whether the issue belonged in Revenue, Health, Labor, or Transportation, and several suggested it should stay with the standing committee handling gaming. Ideas raised included using gaming-related revenue for prevention and treatment, fully funding the 988 lifeline, and creating a broader trust fund for addiction-related services and law enforcement. The committee appeared to agree to continue the topic for educational purposes and to examine taxation of HHR and other gambling activity. Senator Case then proposed a severance tax on wind energy, arguing that wind development creates permanent landscape impacts and that the state should be compensated similarly to coal, oil, and gas extraction. Curt Meier, the state treasurer, supported reviewing lease agreements and said Wyoming should get more from wind resources, noting the state’s unique wind potential and the loss of viewshed. Finally, the committee heard a proposal to reform property tax relief by extending it to motor vehicle registration. Former Revenue director Dan Noble argued that vehicle taxes should be treated like other property taxes, using fair market value, depreciation, the residential assessment ratio, and local mill levies, which he said could provide broad relief but would be expensive, with an estimated fiscal impact of about $120 million. Representative Chestek followed with a related reform proposal based on Pennsylvania’s base-year assessment model, arguing that Wyoming’s current statewide relief measures treat symptoms rather than the underlying problem of rapidly rising local valuations.

Transcript Highlights:

• Well, to the extent that we collect less severance tax revenue, um, there would be less money due to
• If you currently under the current law, if you lowered severance tax rates, that would be a reduction
• And it looks like the idea being for when these severance taxes are no longer here at the rates that
• Are you going to put severance tax money or not because of investment component that assumes there are
• And then we have our We have franchise tax about 8.5% and then severance tax is about 7.77.8% roughly

Bills: SJR 4

Committee: House Appropriations

Keywords: term limits, state offices, constitutional amendment, governor, lieutenant governor, election reform

Transcript Highlights:

• The amendment contains several new sales tax exemptions.
• The amendment repeals two taxes: the business rent tax beginning October 1, and the aviation fuel tax
• The amendment contains several new sales tax exemptions, including a permanent back-to-school sales tax
• For property taxes, the amendment includes several exemptions or expansions for affordable housing.
• This is not the tax package that we voted on several weeks ago. It's incredibly different.

Summary: The House convened on the final day of session, observed a moment of silence for the Minnesota House Speaker Melissa Hortman and her husband, and for Representative Rosenwald’s father, then swore in and seated new members Boyles and Hodgers. The Speaker also outlined the chamber’s end-of-session priorities, including action on the budget and related conforming bills. The House then took up H.J.R. 5019, a constitutional amendment to expand Florida’s budget stabilization fund by raising the cap, requiring annual transfers, and allowing withdrawals for critical state needs. After sponsor explanations and questions about what would qualify as a critical need and how the fund might respond to possible federal funding cuts, the House adopted an amendment that added more flexibility for suspending transfers and withdrawals. The joint resolution then passed on final passage. Members next considered HB 7031, the tax package conference report. The bill repeals the business rent tax and aviation fuel tax, delays the natural gas fuel tax, creates or extends several sales tax exemptions and holidays, and makes changes affecting property taxes, local taxes, pari-mutuel taxes, and revenue distributions. Debate focused heavily on the new permanent exemption for ammunition and hunting-related items, the elimination of recurring housing trust fund and transit-related distributions, and the shift of some funding from recurring to nonrecurring status. Supporters argued the package provides tax relief and preserves annual budget flexibility, while opponents criticized the ammunition exemption and the reductions in recurring housing and transit support. The conference report was adopted and the bill passed. The House then passed HB 5017, which creates a debt reduction program funded by a recurring transfer from general revenue to retire state bonds early, and HB 5015, the state group insurance conforming bill, which directs DMS to develop a formulary management plan and codifies the administrative health insurance assessment. Finally, the chamber began explanation and questions on the General Appropriations Act conference report for fiscal year 2025-26, described as a $115.1 billion budget that is down from the current year and includes more than $12 billion in reserves. Subcommittee chairs summarized major budget areas, including K-12 education, health care, transportation and economic development, agriculture and natural resources, higher education, state administration, justice, and information technology, highlighting funding for school choice, Medicaid, housing, transportation infrastructure, Everglades restoration, workforce programs, cybersecurity, and technology modernization.

Transcript Highlights:

• And we'll start with gas taxes.
• gas tax?
• The Utah fuel tax is actually kind of an interesting tax.
• The Utah fuel tax is actually kind of an interesting tax.
• This is just the straight-up fuel tax.”

Bills: HB2109 , HB2139 , HB2192

Committee: House Transportation

Keywords: vehicle loads, public highways, transportation, road safety, infrastructure, HB2139, snowmobile registration, snowmobile fee, vehicle license fee, registration fee, Department of Licensing, RCW, vehicle registration, winter recreation, off-road vehicle, moped, motorcycle, trailer, recreational vehicle, vintage snowmobile

Transcript Highlights:

• And then, of course, on the severance tax piece.
• So that could somewhat adjust where our collections are on the severance tax.
• And then I'd like to also mention the severance tax bill that was passed, which has been something that
• , you know, I tried to do, trying to reduce a severance tax on oil by a half a percent a year over an
• I don't know if maybe you're also talking about the tax on tax. Yes.

Summary: The House Ways and Means Committee met on March 10, 2026, for a series of informational presentations rather than bill hearings. House Fiscal Division staff reviewed the state’s tax structure, the 2024 third special session tax reform package, and the Revenue Estimating Conference process. They explained the move to a 3% flat individual income tax, a 5.5% flat corporate income tax, the higher standard deduction and retirement-income exclusion, the repeal of several deductions and credits, the repeal of the corporate franchise tax, and the expansion of the sales tax base to certain digital goods. Staff also walked through tax exemption data, showing the size of exemptions relative to collections, and discussed forecasted revenue gaps in the out years, including the effect of the scheduled sales tax rate reduction and the return of transportation-related revenues to their prior dedication. Members asked about declining mineral revenues, digital sales tax collections, corporate collections, and the impact of tax credits and exemptions. Division of Administration and Legislative Fiscal Office staff said lower oil and gas prices, long-term production declines, and the timing of corporate payments were major factors in revenue trends, and that it will take at least another year or two of tax returns to fully understand the reform’s effects. They emphasized that corporate collections are still below the $600 million threshold that affects the state general fund and Revenue Stabilization Fund, though the forecast remains $900 million. The committee also discussed surplus and excess revenues, the distinction between discretionary and non-discretionary spending, and how current-year and prior-year balances are allocated under the constitution. A significant portion of the meeting focused on the relationship between Ways and Means and Appropriations. Chairman McFarland stressed that new fiscal-note bills can force cuts elsewhere if revenue is not available, and urged members to coordinate early with fiscal staff before advancing costly legislation. Members also asked how pending constitutional amendments on teacher pay and inventory tax might affect the budget; staff said the teacher stipend proposal is not currently funded in the executive budget and that the inventory tax proposal would mainly affect local governments and any reimbursements from the Revenue Stabilization Fund if approved. The committee then heard from Louisiana Economic Development Secretary Susan Bouchoux, who reported strong results from recent reforms, including $92 billion in capital investment, 37,000 new jobs, a record year of announcements, a top-10 corporate tax climate ranking, and a pipeline of 189 active projects representing nearly 42,000 potential jobs and $280 billion in potential investment. Members praised LED’s work and discussed the need to pair economic development with workforce training, infrastructure, and predictable tax policy.

Transcript Highlights:

• Well, to the extent that we collect less severance tax revenue, there would be less money due to the
• I would say that the vast majority of the money in the ESF is coming from oil and gas severance taxes
• I mean, we could solve this quote-unquote problem by just lowering the tax rate on the severance taxes
• Well, I don't know that if you currently, under the current law, if you lowered severance tax rates,
• And then we have our We have franchise tax at about eight and a half percent and severance tax at about

Bills: SJR4 , SJR 4

Committee: House Appropriations

Keywords: economic stabilization fund, state finance, constitutional amendment, budget management, financial security, term limits, state offices, governor, lieutenant governor, election reform, 1184, house, all

Transcript Highlights:

• And that trend is really driven by the Severance Tax Permanent Fund.
• The Severance Tax Permanent Fund was in the bottom of large peer funds nationally.
• The Land Grant Permanent Fund outperforms the Severance Tax Permanent Fund.
• Far eclipsing the amount that comes from oil and gas severance taxes and almost on par with sales taxes
• Billion dollars back to the state just from the Severance Tax Permanent Fund.

Transcript Highlights:

• Senate, and this bill essentially puts an excise tax. It's not a severance tax.
• This is not a severance tax on renewables. It is merely an excise tax of 3.75%.
• Much of the severance tax that we have...
• Madam Chair, Representative, would you agree that a severance tax is based upon severing a mineral from
• In the past, I have introduced this bill, and I called it a PILOT tax payment in lieu of severance.

Committee: House House Energy, Environment & Natural Resources

Transcript Highlights:

• Over the past several years, we went through several rounds of treatments, and we also experienced...
• Over the past several years, we went through several rounds of treatments, and we also experienced heartbreaking
• But that requires that when voters approve a new tax increase on the ballot, that tax increase has to
• Because we don't know what our taxing jurisdictions are actually going to tax at, what the rate's going
• Most taxing jurisdictions, most school boards, most fire districts, those who charge property taxes,

Keywords: 959, house, all

Transcript Highlights:

• So the $94 million increase in sales tax, for example, is the addition to the new sales tax number.
• It's not sales tax and it's not corporate income tax; it's not documentary stamp tax.
• So tax liability, property tax liability in the end, is a function of taxable value or tax base, and
• it with sales tax, how much sales tax increase would there be?
• I mean, with the state sales tax, we generate about $50 billion in taxes.

Committee: Senate Finance and Tax

Summary: The Senate Committee on Finance and Tax met for its first meeting of the session, with a quorum present and several members excused. Chair Avila opened by framing the committee’s main focus as property tax relief and housing affordability, noting the complexity of any changes to Florida’s long-standing property tax structure and emphasizing the need to preserve funding for schools and local public safety. He also introduced new committee staff member Tamisha Black and thanked staff for summer work supporting analysis of potential proposals, including constitutional amendment concepts and other property tax relief ideas. Staff director Azar Khan then presented an update on the General Revenue forecast, explaining that collections remained above estimate but at a slower pace than the prior year, with recent economic indicators slightly weaker than earlier forecasts. He said the new forecast mostly reflected modest adjustments, with a notable share of the increase coming from earnings on investment rather than the usual drivers such as sales tax or corporate income tax. Khan also gave a detailed presentation on ad valorem millages, explaining the different millage types used by school districts, counties, municipalities, special districts, and water management districts; the rollback rate; TRIM notice and hearing timelines; voting thresholds for adopting higher millages; and long-term trends showing millage rates declining over time even as total taxes levied have increased. Members used the presentations to discuss property tax relief options and the relationship between local property taxes and state revenue. President Passidomo praised staff and Senator Bernard’s summer work on proposals. President Gaetz asked about converting homestead property tax revenue to sales tax and was told the rough equivalent could be around a 2.8-cent sales tax increase, though with important behavioral and distributional caveats. Senator Rouson asked about the decline in corporate income tax estimates, and Khan said it likely reflected changes in national corporate profit expectations and collection patterns, promising a follow-up. The Department of Revenue’s Lizette Kelly confirmed that TRIM data, including adopted millages, rollback rates, and maximum millage calculations, are collected by jurisdiction and can be provided to the committee. No bills were taken up and no votes occurred beyond adjournment, which was adopted by motion.

Transcript Highlights:

• The first tax preference that we will talk about is a B&O or B&O tax credit for neighborhood revitalization
• keeping the tax dollars local.
• Third is to increase the local tax base by adding property to the tax rolls.
• directs new tax preferences to have a tax preference performance statement, and it also outlines the
• one for that tax preference.

Committee: Joint Citizen Commission for Performance Measurement of Tax Preferences

Summary: The Citizen Commission for Performance Measurement of Tax Preferences met on August 4, 2026, with all five commissioners present. The commission approved the May 26, 2026 minutes, welcomed new commissioner Diane Tabilius, and re-elected Andy Knopfsiger Meadows as chair and Dr. Sharon Keiko as vice chair. JLARC staff also introduced two Evans School interns who are assisting with preliminary research for the 2027 review cycle. JLARC presented preliminary findings on seven tax preference reviews, focusing most heavily on the Main Street communities credit, the Equitable Access to Credit Program, and the urban data center exemption. Staff concluded that the Main Street preference has helped increase the number of communities and businesses and recommended continuing it, while also recommending that DAHP collect more detailed and standardized business-count data. The Equitable Access to Credit Program was found to support underserved communities and was also recommended for continuation. The urban data center exemption was found to have been used only for refurbishment projects, not new construction, and staff recommended letting it expire; commissioners and Representative Paulette discussed the need for better performance measures, cost-per-job analysis, and clearer legislative intent language in tax preference statements. Staff then reviewed airplane modification, landfill biogas, automotive adaptive equipment, and housing for people with developmental disabilities. The airplane modification preference was found to likely support jobs and state tax revenue and was recommended for continuation. The landfill biogas preference was also recommended for continuation, with a suggestion for more detailed reporting on use and renewable natural gas production. The automotive adaptive equipment exemption was found to continue providing relief to disabled veterans and service members and was recommended for continuation, while the housing transfer exemption for adults with developmental disabilities had not been used and was recommended to expire. No public testimony was taken at this meeting, and the commission noted that public testimony would be heard at its September meeting before final comments are adopted in October.

Transcript Highlights:

• and sales tax.
• and sales tax.
• ; my profit, my labor burden, my taxes, payroll taxes are also being taxed again through the sales and
• use tax.
• Or tax-free, right?

Committee: Senate Finance

Summary: The Senate Finance Committee heard several tax and economic development bills. SB 935 would exempt counties from the motor fuels tax on fuel used exclusively in county vehicles; Sen. Hall and Cass County Judge Travis Ransom argued it would save counties money without changing fund allocations, and the bill was left pending while the committee waited for the House version. SB 2206 would extend and revise Texas’s research and development incentives by tying the franchise tax credit more closely to federal law and changing the program’s effective date; supporters from business, manufacturing, and tax policy groups said it would protect innovation jobs and help startups, while the Comptroller’s office explained the fiscal note and said the committee substitute was no longer needed. The committee later withdrew the substitute and left the bill pending before ultimately voting it out favorably. The committee also heard SB 2020, which would repeal the “rehab tax” on nonresidential remodeling. Sen. Campbell said a large fiscal note led him to delay a full presentation, but builders, architects, and contractors testified that the tax raises remodeling costs, complicates audits, and discourages reuse and reinvestment in existing buildings. The bill was left pending. SB 2018 would create a two-year “strong families” tax credit for businesses donating to nonprofits that provide family support services; supporters from Family First, Buckner International, and Texas Baptist said it would strengthen families, father engagement, and upstream prevention, while the author said the Comptroller and HHSC were still working on administration details. That bill was also left pending. After a quorum was established, the committee heard and later reported several bills favorably. SB 1030 would exempt certain aircraft maintenance, repair, and overhaul parts from sales tax for general aviation; industry, airport, and local economic development witnesses said it would keep high-wage aviation work in Texas and improve competitiveness with neighboring states, and the bill was reported favorably. SB 214 would create a temporary sales tax holiday for qualifying residential HVAC systems; it was laid out and left pending. SB 1901 would make administrative and ethics changes to the Opioid Abatement Fund Council, including staggered terms, conflict rules, and fund reallocation procedures; it was reported favorably. SB 266 would repeal the Texas Research Incentive Program and use the appropriation to address the existing backlog of unmatched donations; the chair and Sen. Paxton said the state should honor past commitments, and the committee substitute was adopted and the bill was reported favorably. The committee then recessed subject to the call of the chair.

Transcript Highlights:

• There are some states that choose to use ADS-B for tax collection, for property taxes, and that sort
• So we have had conversations with several of these software companies over the last several years.
• And we... ...conversations with several of these software companies over the last several years, and
• Obviously, we're not the taxing entity. We're the benefit from that tax.
• It's not even a gas tax. It's not even a car tax. It's a road usage tax.

Bills: SB1312 , SB1323 , SB1599 , SB1863 , SB1932 , SB1950 , SB1956 , SB1958 , SB1966 , SB1970 , SB2052

Committee: Senate Aeronautics and Transportation

Keywords: vehicle registration, automatic payments, Service Oklahoma, taxes, motor vehicle, prepayment program, memorial designation, highway, Sheriff Marty Grisham, transportation, Oklahoma Statutes, memorial bridge, dedication, Oklahoma, commemoration, memorial highway, road designation, John Skelley, motor carrier, administrative hearing

Summary: The Senate Aeronautics and Transportation Committee heard several memorial highway and bridge designation bills and one substantive aviation/tax bill. The committee advanced SB 1323 (Marty Grisham memorial signage), SB 1863 (John Skelly Memorial Highway), SB 1932 (allowing a trucking company owner or other designated representative to appear without a lawyer in certain Corporation Commission administrative hearings), SB 1956 (Captain David Ward Neely Memorial Highway), SB 1970 (Private Earl Maggerton Memorial Bridge), and SB 1599 (Arlen Francis Wetzel Memorial Bridge). These measures were generally presented as honorary designations or procedural changes, with brief questions mainly about mileage or fiscal impact, and they all passed committee by voice or roll-call votes. The most extensive discussion centered on SB 1950, which would prohibit government entities or private vendors from using ADS-B aircraft tracking data to calculate, generate, or collect fees. Supporters argued that using the federally required safety system for fee collection encourages pilots to turn off ADS-B, undermining air safety, and said airports can collect fees through other methods. Opponents and committee members raised concerns that the bill could hinder lawful tax and fee collection, including aircraft excise taxes and landing fees, and that it might reduce revenue for airports and the state. After testimony from the bill author, an aviation association representative, and the Oklahoma Department of Aerospace and Aeronautics director, the committee laid the bill over at the author’s request. The committee also heard SB 1312, which would have allowed owners of electric and hybrid vehicles to prepay the annual road-use fee over time rather than paying it in one lump sum. The author said the goal was to reduce the burden on low-income drivers and small businesses, but concerns were raised about fiscal impact and implementation. After title was stricken to allow further work, the bill failed on a 5-6 vote. The chair also announced that some items would be laid over and that the committee would not meet the following week.

Transcript Highlights:

• They do not need our tax breaks.
• He does not need a tax break. Who needs a tax break?
• They do not need our tax breaks.
• He does not need a tax break. Who needs a tax break?
• Who needs a tax break? People in break. Who needs a tax break?

Keywords: 1183, house

Transcript Highlights:

• Did an operator have to pay severance tax or production tax on that, even though they didn't achieve
• He still owes severance taxes.
• The fund can no longer receive any severance taxes.
• Of course, any increases in severance taxes will benefit state highway funds.
• Is there a risk of excess oil and gas severance tax revenue being redirected away from the ESF in the

Committee: House Energy Resources

Keywords: 1184, house, all

Transcript Highlights:

• Paradoxically, Massachusetts is seeing both increases in severe drought and severe flooding because of
• Any effort to impose an endowment tax in Massachusetts must be rejected.
• Endowment funds simply cannot be diverted to pay a tax.
• Endowment funds simply cannot be diverted to pay a tax.
• So that's kind of where the tax has gone.

Committee: Joint Joint Committee on Revenue

Keywords: 995, all

Summary: The Joint Committee on Revenue held a hearing on 25 tax and administrative bills, with opening remarks explaining the hearing process and noting that House-filed matters must be reported by December 6. The first major topic was funding for the Massachusetts Law Enforcement Memorial and related support for families of fallen officers. Police representatives, memorial fund advocates, and family members gave emotional testimony urging favorable action on S. 1934 and related bills, emphasizing the need for a permanent revenue stream to maintain the memorial and honor officers killed in the line of duty. Committee members and legislators responded with personal remarks of support and appreciation for law enforcement families. The committee then heard testimony on a proposed Commonwealth Bitcoin Strategic Reserve, including S. 1967 and related bills. Senator Peter Durant and later Dennis Porter argued that the state should be allowed to invest a limited share of stabilization or other funds in Bitcoin or other regulated digital assets as a hedge against inflation and fiscal risk, with strict caps, custody rules, and audits. They described the proposal as a forward-looking, non-mandatory framework for diversifying state reserves. No vote was taken during the hearing. Another major topic was disaster resilience funding. Dr. Paul Biddinger of Mass General Brigham supported S. 1936/H. 3030, saying climate-driven flooding, drought, and wildfire risks are increasing and that the State Disaster Relief and Resiliency Trust Fund needs a dedicated revenue source. Senator Comerford also testified in favor, explaining that the fund was created in the prior session, that recent floods showed the need for quick state response, and that the bill would dedicate a portion of capital gains revenue to the fund. Committee members asked about how the fund would accrue and be used. The committee also heard testimony on PILOT and endowment-related bills: AICUM opposed H. 3122/S. 2013 and H. 3264/S. 2016, arguing that an endowment tax and mandatory PILOTs would harm private nonprofit colleges, students, and research; and a representative from Peru supported reform of PILOT formulas for state-owned land, saying rural towns need higher reimbursements and hold-harmless protections. The hearing concluded after testimony on the digital asset bills, with no recorded votes or final actions.

Transcript Highlights:

• The first tax preference that we will talk about is a B&O or P&O tax credit for neighborhood revitalization
• They've used $11.4 million in tax credits.
• Third, to increase the local tax base by adding property to the tax rolls.
• Right now, the statute RCW 82.32.808 directs new tax preferences to have a tax preference... ...performance
• one for that tax preference.

Committee: Joint Citizen Commission for Performance Measurement of Tax Preferences

Keywords: 904, all