Transcript Highlights:

• You’re all well-versed in Idaho’s endowment lands and our mission to manage Idaho’s endowment assets
• We managed close to 1,600 endowment leases.
• And certainly it's a better return for the endowment beneficiary.
• We're working on behalf of not only the endowment beneficiaries to protect endowment assets, namely the
• acres of endowment forest lands.

Committee: Senate Resources and Environment

Transcript Highlights:

• For example, the University of Minnesota has an endowment of $5.5 billion, but its per-student endowment
• In contrast, Carlton College has an endowment of $1.6 billion, but its per-student endowment is $600,000
• endowment billion, but its per student endowment is is is $600,000.<00:03:27.040><c> So,</c><00:03:27.200
• </c> included a 1.4% tax on endowment income. included a 1.4% tax on endowment income. uh<00:04:05.680
• </c><00:04:44.560><c> to</c> could make with their endowments to could make with their endowments to

Committee: Senate Taxes

Transcript Highlights:

• We've had recommendations for two different endowments.
• One is a faculty endowment to recruit and retain faculty. The second has been a student endowment.
• The second has been a student endowment. the one. endowment to recruit and retain faculty.
• The second has been a student endowment.
• for the social worker endowments, and do you have unexpended endowment funds still?

Bills: SB37 , SB29

Committee: House House Appropriations & Finance

Keywords: high-quality literacy instruction, science of reading, structured literacy, reading instruction, literacy assessment, dyslexia screening, phonics, phonemic awareness, fluency, vocabulary, comprehension, biliteracy, English language learner, ELL, bilingual education, dual language program, reading intervention, reading difficulty, reading improvement plan, literacy coach

Transcript Highlights:

• Ultimately, the task force endowments.
• First is endowments and higher education institutions, so think college and university endowments.
• </c> educational endowments. educational endowments.
• It is for large endowment funds.
• </c> framework is responsible endowment framework is responsible endowment management.<01:09:37.920><

Committee: Senate Education Finance

Transcript Highlights:

• You're saying this would only apply to future endowment gifts.
• OK, I'm gonna read the endowment agreement.
• live to police the endowment.
• The thing, the part about an Endowment is to benefit the public.
• I've worked on endowments, capital campaigns.

Bills: SB65 , SB248 , SB330 , SB378 , SB844 , SB1330 , SB1410 , SB1475 , SB1476 , SB1565 , SB1618 , SB1623 , SJR39 , SJR47 , SB2084 , SB1655 , SB1679 , SB2174 , SB1775 , SB1873 , SB1204 , SB1884 , SB1916 , SB1937 , SB1447 , SB1500 , SB2007 , SB2074 , SB1944 , SB2018 , SB1984 , SB2026 , SB2045 , SB2049 , SB2062 , SB2112 , SB2118 , SB2127 , SB2134 , SB2135 , SB2139 , SB2154 , SB1195

Keywords: SB65, naloxone, Narcan, opioid overdose, overdose reversal, opioid antagonist, emergency opioid antagonist, substance abuse services, harm reduction, public health, overdose prevention, good samaritan, civil immunity, criminal immunity, controlled substances, addiction treatment, fentanyl, opioid crisis, school overdose response, first aid

Transcript Highlights:

• </c> and endows that to the university. and endows that to the university.
• </c> on that endowment. on that endowment.
• to research. endowment.
• Do you see off your endowment?
• </c> you can see here, um UK's endowment you can see here, um UK's endowment spending<01:42:49.160><c

Summary: The Interim Joint Budget Review Subcommittee on Education met for its first summer interim meeting, opened with prayer and the Pledge of Allegiance, and took roll. The first presentation came from Jerry Gels, principal of Ignite Institute in Erlanger, who focused on the rising cost of dual credit. He said dual credit tuition has increased from about $150 to $290 for a three-credit course over roughly five years, which he argued is discouraging participation, especially for working-class and low-income students. He cited Ignite data and broader college outcomes to argue dual credit improves college persistence, shortens time to degree, and reduces student debt, noting that many of his students enter college with substantial credit and that low-income students at Ignite have increasingly participated after targeted efforts and scholarship use. He also said the instructional labor is largely paid by county school systems, so he questioned the size of the tuition increase and said the committee should examine how the costs are being set and whether college tuition should be stabilizing as more students arrive with credits already earned. Members asked about who pays for dual credit, the role of state scholarship support, and whether tuition varies by institution. Gels said students in his district generally pay the dual credit cost themselves, though some districts may cover it, and he noted the dual credit scholarship now covers fewer classes than before. He said the price appears to be set centrally rather than varying by university, and he emphasized that the higher cost is creating barriers even though the courses are taught largely by local teachers on school payrolls. He also described Ignite’s efforts to expand access for free- and reduced-lunch students, saying participation among that group rose from 27% with no dual credit to about 90-92% taking at least one dual credit class. The committee then heard from the Goldwater Institute, represented by Michael Frazier and Dr. Tim Minella by Zoom. They argued Kentucky’s public universities should face stronger accountability and transparency, citing declining public confidence in higher education, rising costs, and what they described as administrative growth and research spending that does not clearly benefit students or the Commonwealth. They proposed requiring a 10-year accounting of staffing growth by category, comparing it to enrollment and low-income Kentucky enrollment, and limiting non-STEM faculty teaching releases for research unless approved under a baseline consent process. They also criticized certain university-funded research projects as examples of misdirected spending and said public reporting should distinguish Kentucky residents from non-residents more clearly, pointing to a reported decline in low-income in-state undergraduate enrollment. No votes or formal actions were taken during the meeting.

Transcript Highlights:

• Basically, it is an endowment for the state.
• Basically, it is a endowment for the state.
• But when I hear the term endowment, I get a little concern because...
• When I think about endowments, I think about how endowments are used in institutions, right?
• I'll just use a wild term, gambling with the endowment?

Committee: House Special Committee on Intergovernmental Affairs

Transcript Highlights:

• with comments, including some suggested language for contributing an appropriation to the State Endowment
• Fund to help support the... ...State Endowment Fund to help support the initiative.
• </c><00:18:35.159><c> and</c><00:18:35.280><c> the</c> about I guess the the endowment and the about
• or is it a general fund the endowment or is it a general fund appropriation<00:18:42.320><c> that</c
• We'll also be mentioning the State of Hawaiʻi endowment fund and the numerous statewide public benefits

Committee: House Culture & Arts

Summary: The Committee on Culture and the Arts met on March 14, 2025, and heard two measures. On SB 441 SD1, relating to the Hawaiʻi Symphony Orchestra, the committee received strong support from the orchestra, the Democratic Party of Hawaiʻi, IATSE Local 665, and an in-person testifier, with testimony emphasizing statewide access to music, education and community programming, cultural value, economic impact, and job stability for musicians and staff. The Attorney General’s office offered comments and suggested language related to the State Endowment Fund. Committee members asked about how the funding would be used, the orchestra’s reach, and its history; the orchestra said it preferred direct operating support and described its audience and employment footprint, neighbor-island outreach, and plans to expand season length and education programs. The committee then heard SB 1581 SD1, relating to the Hawaiʻi Japan Pacific Peace Monument. No testifier from the State Foundation on Culture and the Arts was present, and no one testified on Zoom. With no discussion from witnesses, the measure was briefly taken up and later advanced. In decision-making, the committee adopted amendments to SB 441 SD1, including a preamble describing legislative intent and the orchestra’s history, references to the State of Hawaiʻi endowment fund and statewide public benefits, and language ensuring the funds support statewide purposes and neighbor-island access to music and educational opportunities. The committee also added a deferral date of July 1, 3000 and technical amendments, then voted to pass the measure with amendments. SB 1581 SD1 was also passed forward with amendments, including a July 1, 3000 deferral date and technical changes, and the meeting adjourned.

Transcript Highlights:

• That comes from the endowment.
• When you have a $57 billion endowment or you have a $27.4 billion endowment, the question I think that
• Chair Fiola, I wish our endowment is proud.
• That comes from our endowment.
• We've made a decision not to take that tax out of the endowment, but to take that tax out of the endowment

Committee: Joint Joint Committee on Economic Development and Emerging Technologies

Summary: The committee on Economic Development held a hearing on the DRIVE Act, a proposal to invest $400 million in Massachusetts research and innovation without new taxes. Governor Healey and administration officials said the bill would direct $200 million to public higher education research and regional partnerships and $200 million to a research funding pool for hospitals, universities, and other institutions, with the goal of retaining talent, leveraging private and philanthropic dollars, and offsetting major federal R&D cuts. They argued that research is a core economic engine for the state, supporting jobs across labs, construction, services, and surrounding businesses, and said the bill would help protect the Commonwealth’s tax base and competitiveness during a period of federal uncertainty and cuts to SNAP, Medicaid, and other programs. Committee members raised concerns about whether Fair Share surtax dollars should instead be used for K-12 and other community needs, whether the proposal is enough given the scale of lost federal grants, and how the money would be allocated. The governor responded that the funds are one-time surplus dollars, that most surtax revenue already supports education, and that the bill is meant as a bridge to stabilize public higher education and research. She also said the legislation includes a review board and could support a revolving or matched-fund approach in some cases. Several members pressed for more detail on selection criteria, future funding, and whether private companies and large endowments should contribute more. University of Massachusetts leaders and researchers testified that federal grant cancellations and delays are already causing layoffs, furloughs, rescinded admissions, and lost research capacity. UMass officials said the bill would help preserve faculty, postdocs, graduate students, and research programs in medicine, climate science, marine science, Braille instruction, and AI decision-making. They emphasized that the funding should be merit-based and that the state needs to act quickly to prevent talent from leaving Massachusetts. Business, labor, and industry groups, including MassBio, the Massachusetts Taxpayers Foundation, AIM, the AFL-CIO, and Building Trades, supported the bill, saying it would protect jobs, sustain the innovation ecosystem, and reinforce Massachusetts’ national leadership in research and life sciences. No vote was taken in the hearing.

Transcript Highlights:

• to the endowed Mesabi Range account, and the remainder, 75%, to the endowed scholarship account.
• </c> following formula. 25% to the endowed following formula. 25% to the endowed mineral<00:09:52.560
• </c><00:09:57.680><c> Msabi</c> at 50 million. 25% to the endowed Msabi at 50 million. 25% to the endowed
• </c><00:10:04.399><c> In</c> to endowed scholarship account. In to endowed scholarship account.
• </c><00:10:06.399><c> mineral</c> fiscal year 2012, the endowed mineral fiscal year 2012, the endowed

Committee: Senate Higher Education

Transcript Highlights:

• Even though individuals who've been buried have paid endowment fees, sometimes endowment fees that were
• Currently, the Bureau manages the endowment fund and the accounts associated with it.
• Ensuring public entities have access to both Endowment Fund Principle. administrative costs ensuring
• public entities have access to both endowment fund principle and income establishing the abandonment
• The cemetery bureau currently has authority if it determines in its annual audit of an endowment care

Summary: The Assembly Business and Professions Committee heard a lengthy agenda of Senate bills, with most measures ultimately advancing on party-line or broad bipartisan votes after substantial testimony and several amendments. Early in the hearing, SB 418 by Sen. Menjivar was presented as a health access bill to codify ACA nondiscrimination protections in state law and require coverage for up to a 12-month supply of medically approved hormone therapy; supporters framed it as protecting continuity of care amid federal threats, while there was no opposition testimony. The committee later also took up SB 456, which would exempt muralists from contractor licensing requirements for commissioned fine art murals; supporters said recent enforcement had chilled mural projects and harmed artists and communities, and the bill passed unanimously to Appropriations. SB 641, part of the wildfire response package, and SB 774, a sunset review bill for the Department of Real Estate and Bureau of Real Estate Appraisers, also advanced with support and no opposition. SB 775 and SB 776, sunset extensions for the behavioral sciences, psychology, and optometry boards, passed after witnesses described technical changes and the need to keep the boards operating. SB 777, dealing with abandoned cemeteries, drew testimony from local governments, industry, and counties; after amendments removed a local takeover mandate and shifted the bill toward a stakeholder working group and study process, opposition softened or was withdrawn and the bill moved forward to Local Government. SB 790, on interstate reciprocity for online higher education, generated the most debate, with supporters arguing California students and institutions need stronger consumer protections and access to the national reciprocity framework, while opponents said the bill’s terms conflicted with the existing compact; it passed as amended to Appropriations after committee members emphasized continued work on student protections. The consent calendar, including SB 389 and SB 861, was also approved, and the committee adjourned after additional vote changes were recorded.

Transcript Highlights:

• And then the last thing is enhancement number 59, endowment fund adjustments.
• The agency receives fixed distributions from their endowment funds.
• And then the last thing, enhancement number 59, endowment fund adjustments.
• So the agency receives fixed distributions from their endowment funds.
• Fund for an increase in disbursement from the endowment fund at State Hospital North.

Summary: The committee took up a series of Idaho Department of Corrections budget supplementals and FY 2027 enhancement requests. Members approved supplemental or ongoing funding for Hepatitis C treatment authority, county and out-of-state placement costs, medical services, management services replacement items and IT hardware, state prisons replacement items, and community corrections replacement items, with several motions passing by due pass recommendation after roll calls. In community corrections, the committee approved a reduced amount that excluded some vehicle replacements. The committee also approved a technical correction to the college and university budget to restore four FTP that had been omitted from yesterday’s motion. The committee then considered several Department of Health and Welfare items. It approved a budget-neutral fund source change for substance abuse treatment and prevention, moving $650,000 from the Liquor Control Fund to the Cooperative Welfare Dedicated Fund. In the Division of Welfare, members discussed SNAP administrative cost changes tied to H.R. 1, Medicaid expansion work requirements, and Medicaid eligibility system changes; the motion to fund all three items failed in the House committee, so no language advanced. The committee also approved psychiatric hospitalization supplemental funding to shift Idaho Behavioral Health Plan revenue from federal funds to dedicated funds. For FY 2027 mental health services, the committee approved a compromise package that reduced funding for a juvenile corrections clinical transfer and restored some mental health services staffing and Idaho Behavioral Health Plan costs, while adding Allenbaugh House funding through opioid settlement dollars. It also adopted language allowing certain transfers under state law and requiring separate reporting for children’s and adult mental health spending under the Idaho Behavioral Health Plan. For psychiatric hospitalization, the committee approved ongoing fund shifts for employee benefits, the Idaho Behavioral Health Plan, replacement items, and endowment fund adjustments. The meeting ended with notice of upcoming budget-setting work and a reminder for members to get any new motions to staff by early afternoon.

Transcript Highlights:

• Basically, it is an endowment for the state.
• Basically, it is a endowment for the state.
• But when I hear the term endowment, I get a little concern because...
• When I think about endowments, I think about how endowments are used in institutions, right?
• No one can dip into the fund until endowments have similar controls.

Committee: House Special Committee on Intergovernmental Affairs

Summary: The Special Committee on Intergovernmental Affairs held public hearings on three measures. House Bill 2289, sponsored by Rep. Owen, would create a real estate fund to let the state more quickly sell and buy property, with proceeds from sales and other monies deposited for future real property acquisitions. Rep. Owen and Office of Administration witness Hanna-Swan said the current process is too slow and cumbersome, especially when the state needs to consolidate or relocate offices; Rep. Walshmore raised concerns about siloing funds during tight budget years, while supporters said the fund would improve flexibility and efficiency. No vote was taken. The committee then heard House Joint Resolution 189, sponsored by Rep. Wellenkamp, proposing a Missouri sovereign wealth fund, or “Show Me Prosperity Fund.” Wellenkamp argued the state needs a long-term investment vehicle to address infrastructure and fiscal pressures, with the Treasurer investing in private markets under strict controls and the fund eventually replacing tax revenue once it matures. Members questioned the source of initial funding, the investment rules, the audit provisions, and whether the fund could be used for broader state spending; no witnesses testified in opposition or support, and no action was taken. Finally, the committee heard House Bill 2906, sponsored by Rep. Mayhew, which would raise dollar limits for certain Office of Administration construction, renovation, maintenance, and repair contracts and authorize master agreements for architecture, engineering, and land surveying services. Mayhew and OA said the changes would account for inflation and reduce delays by prequalifying vendors for two-year periods instead of repeating the RFQ process for small projects. An engineering industry witness supported the bill as an efficiency measure, and committee members asked about the contract limits, the master agreement structure, and how the numbers were chosen. The hearing concluded without a vote.

Transcript Highlights:

• losing the funding for that satellite network facility and about her ability to travel all the way into Iowa
• losing the funding for that satellite network facility and about her ability to drive all the way into Iowa
• :24:24.040><c> own</c> many other dollars including our own many other dollars including our own endowment
• 01:24:26.120><c> we</c><01:24:26.239><c> see</c><01:24:26.400><c> a</c><01:24:26.560><c> very</c> endowment
• money and we see a very endowment money and we see a very significant<01:24:27.480><c> return</c><01

Committee: House Higher Education Finance and Policy

Transcript Highlights:

• Further, the endowments paid in the past Interments, therefore, are not profitable.
• Further, the endowments paid in the past years are no longer sufficient to cover ongoing expenses.
• First, it would formally define an abandoned endowed care cemetery.
• Endowment Care Cemetery privately run may wash its hands of the failure of the abandoned cemetery and
• Financial shock associated with the sudden transfer and sudden inheritance of an abandoned endowment

Committee: House Business and Professions

Transcript Highlights:

• We tipped them into the Hathaway and the endowed professor accounts.
• </c><00:26:33.440><c> Charlie</c> the endowed professor accounts.
• Charlie the endowed professor accounts.
• </c><00:26:35.440><c> I</c> Scott wanted the endowed professors.
• I Scott wanted the endowed professors.

Bills: SF0018 , SF0036 , SF0047

Committee: House Education

Transcript Highlights:

• Further, the endowments paid in the past Interments, therefore, are not profitable.
• Further, the endowments paid in the past years are no longer sufficient to cover ongoing expenses.
• First, it would formally define an abandoned endowed care cemetery.
• SB 1312 stands up a process whereby an owner of an abandoned endowment care cemetery, privately run,
• may Endowment Care Cemetery privately run may wash its hands of the failure of the abandoned cemetery

Summary: The committee heard several bills, beginning with SB 1312 by Senator Richardson on abandoned endowed-care cemeteries. Richardson described vandalism, theft, and neglect at abandoned cemeteries and said the bill would define abandonment, create a process for local governments to declare a cemetery abandoned, and allow the Bureau to act as conservator of endowment funds. Support came from Marin County, while county and special district groups opposed or had concerns, arguing the bill could shift burdens to local governments or public cemetery districts without enough safeguards. Members expressed general support but noted the need for further work; the bill was discussed but no final vote was taken in the excerpt. The committee then took up SB 758 by Senator Umberg, which would restrict retail sales of nitrous oxide to curb misuse. Supporters, including the League of California Cities, narcotic officers, counties, pediatricians, and other local governments and health groups, said easy access at smoke shops and convenience stores has fueled recreational abuse and health harms. There was no opposition testimony, and members voiced strong support for a statewide approach over city-by-city bans. The bill was well received, with the author closing in support. Dr. Weber-Pierson presented SB 1094, a health care affordability bill on biosimilars and biologic substitution. The bill would allow pharmacists to substitute biosimilars under certain conditions, require advance notice to providers and patients, and add reporting on savings; the author said amendments would strengthen provider notice and preserve the ability to mark prescriptions “do not substitute.” Supporters from health plans, insurers, pharmacies, labor, business, and some provider groups argued the bill would lower costs and expand access. Opponents, including dermatology and rheumatology groups and biotech interests, warned about non-medical switching, prior authorization delays, and patient harm. After extensive discussion, the committee voted 13-0 to pass SB 1094 to the Committee on Health. The committee also passed SB 849 by Dr. Weber-Pierson, which would bar reinstatement of physicians who surrendered their licenses while a sexual misconduct accusation was pending. The Medical Board and California Medical Association were generally supportive or neutral, and members praised the bill’s patient-protection focus. SB 993 by Senator Ochoa Bogh, which limits routine disclosure of identifying information for mental health professionals in correctional and psychiatric settings while preserving complaint processes, also passed unanimously to Appropriations. SB 1002 by Senator Niello, extending the David Hall Act to allow certain patients in remission to continue telehealth care with out-of-state specialists, drew strong patient support but opposition from the Medical Board and CMA over licensure and oversight concerns; the committee voted it out on a split roll with some members not voting. Finally, SB 1263 by Senator McGuire, aimed at protecting wildfire survivors and workers by requiring licensed, trained contractors for post-disaster residential debris removal, received support from labor and the Contractors State License Board, with contractors raising a narrower amendment concern about scope.

Transcript Highlights:

• This constitutional amendment proposes a reconsideration to the approach of how we manage our endowment
• It does not change the endowment fund.
• When I'm reading the different sections here, there's the state-owned endowment land section, and then
• there's the state-owned endowment land section... ...the sections here, there's the state-owned endowment
• So in both instances, whether it be with the changes to the management of endowment and state lands or

Committee: House State Affairs

Transcript Highlights:

• Now that program is called the Consolidated Endowment Fund, or the CEF.
• They invest the DD Endowment Trust Fund. They invest in the Opportunities Scholarship Fund.
• We can provide them more resources today and in the future to deliver... ...their endowment.
• Before UNCO, and since the 1980s, UW has managed its endowment in-house.
• On the legal side, we have almost 6,000 individual endowments.

Bills: HB2565 , HB1607 , HB2254 , HB2385 , HB2531 , HB2543

Committee: House Appropriations

Keywords: investment, gifts, grants, University of Washington, funding, higher education, recycling, waste reduction, environmental policy, sustainability, municipal regulations, HB 2254, Washington, Health Care Authority, partnership access line, psychiatric consultation line, first approach skills training, behavioral health, mental health, assessment

Transcript Highlights:

• Now that program is called the Consolidated Endowment Fund, or the CEF.
• They invest the DD Endowment Trust Fund. They invest in the Opportunities Scholarship Fund.
• I think they've got the expertise to do a fantastic job managing UW's endowment.
• Before UNCO, and since the 1980s, UW has managed its endowment in-house.
• On the legal side, we have almost 6,000 individual endowments.

Summary: The House Appropriations Committee held a public hearing on House Bill 2565, which would require University of Washington gifts, grants, and similar funds to be invested through the Washington State Investment Board instead of UW’s internal investment office. Staff and the prime sponsor argued the change would lower fees and improve returns, while UW’s representatives opposed the bill, citing concerns about donor intent, legal restrictions on thousands of individual endowments, and differences in portfolio management and liquidity needs. No questions were raised in the hearing, and no action was taken on the bill at that time. The committee then moved into executive session on several bills. On Third Substitute House Bill 1607, related to recycling and waste reduction, members adopted a technical amendment but rejected amendments that would have directed unredeemed deposits to the Working Families Tax Credit and litter programs, added accountability requirements for grants, or created a SNAP-related benefit. The bill was then reported out of committee with a do pass recommendation on a 17-13 vote. On Second Substitute House Bill 1622, concerning bargaining over public employers’ use of artificial intelligence, members adopted one amendment updating the AI definition and rejected three others that would have narrowed bargaining triggers or limited the bill to technologies with demonstrable material impacts. The bill was reported out with a do pass recommendation on a 19-11 vote. The committee also advanced House Bill 2254, which would cover administrative costs for the Partnership Access Line assessment, and House Bill 2385, which extends timelines for the Medicaid access program after federal changes affected implementation; both were reported out with do pass recommendations. House Bill 2531, continuing and adjusting the ground transportation quality assurance fee structure, also passed out of committee. Finally, House Bill 2543, allowing county clerks to increase certain fees to cover court-related costs, was reported out with a do pass recommendation on a 22-6 vote. The committee adjourned after completing its business.