Video & Transcript Research : 'Class D1'
Page 115 of 406
MN
Transcript Highlights:
- This rapid push towards automation risks hollowing out the middle class.
- This rapid push towards automation risks hollowing out the middle class.
- This rapid push towards automation risks hollowing out the middle class.
- <01:23:44.360>
in including a city of the first class in including a city of the first class - <01:53:43.760>
transit progress towards a world-class transit progress towards a world-class
NH
New Hampshire 2026 Regular Session
House Resources, Recreation and Development (02/11/2026)
Resources, Recreation and Development
Transcript Highlights:
- So with that, what I'm going to do is I've asked the two representatives of the eighth grade class to
- With this in mind, we, the eighth grade class of Bington Middle School, present to the members of this
- In many classes, we have been learning about the topic of legacy.
- After many lessons and progress, our eighth grade class has been more drawn to honoring Alan Shepard
- In many classes, we have been learning about the topic of legacy.
MN
Minnesota 2025 1st Special Session
House Higher Education Finance and Policy Committee 3/25/25
Higher Education Finance and Policy
Transcript Highlights:
- If classes are canceled due to low enrollment, which often happens last minute, or if professors put
- was full, a full-time instructor's class wasn't.
- And so he had to give his class over. So he didn't have insurance.
- And early in my teaching career around 2010, I was asked to take over a class.
- Midway through the semester, I class.
AZ
Transcript Highlights:
- Please share it with the class. Thank you, Mr. Speaker Pro Tem.
- That's how it helps middle-class America, middle-class Arizona.
- And we’re very, very middle-class retired people.
- What we do agree on is the middle-class tax cuts focus packages.
- All classes of people from all walks of life are represented in this package.
Summary:
The House convened, approved the journal, and spent much of the opening portion recognizing guests and interns from both parties, along with former lawmakers and a newly seated member, Representative Sylvia Allen. The chamber then took up House Concurrent Resolution 2065 honoring the late Alfredo Gutierrez. Members from both parties gave extended remarks about his life as a civil rights advocate, student activist, legislator, and mentor, and the resolution was unanimously adopted and transmitted to the Senate. Family members of Gutierrez were recognized in the gallery during the memorial tribute.
The House then moved into Committee of the Whole on the first budget-related measures. On House Bill 4138, the “feed bill”/budget operations measure, Democrats argued the budget favored corporations and data centers over seniors, health care, housing, universities, and vulnerable families, while Republicans defended it as a continuation of prior policy and said it preserved tax conformity and modest agency cuts. After debate and questions, the committee recommended the bill do pass and the House adopted that report, sending HB 4138 to engrossing.
The chamber next considered House Bill 4139, the amusement/gaming-related budget bill. Members debated whether it was essentially unchanged from last year’s budget language, with Republicans saying it was a continuation bill and that gaming-related provisions would support rural economies and tourism, while Democrats questioned the broader budget context and its effects on working families. The committee recommended HB 4139 do pass, and the House adopted that recommendation. The House then began debate on House Bill 4140, the state budget implementation bill, focusing on the budget stabilization fund and a proposed government efficiency initiative; discussion was still underway at the end of the transcript.
KY
Kentucky 2025 Regular Session
Interim Joint Committee on Local Government (11-20-25) - Reupload
Transcript Highlights:
- There's a KRS that requires most class D felony inmates and some class C felony inmates to serve their
- There's a KRS that requires most class D felony inmates and some class C felony inmates to serve their
- There's a KRS that requires most class D felony inmates and some class C felony inmates to serve their
- There's a KRS that requires most class D felony inmates and some class C felony inmates to serve their
- There's a KRS that requires most class D felony inmates and some class C felony inmates to serve their
Keywords:
Reupload to restore attendance roll call
Roll Call 00:00:00
Approval of Minutes from September Meeting 00:00:24
Presentation of the Kentucky Association of Counties Legislative Platform for the Upcoming 2026 Session 00:01:48
Discussion of Legislation Concerning Firefighter Death Benefits 00:35:43
Discussion of DNA Collection in Jails for Felony Arrests 00:45:52
Discussion of Federal Immigration Law Enforcement 00:54:18
Adjournment 01:15:39, 958, all
Summary:
The committee met for its sixth meeting, established a quorum, and approved the minutes from the October 21 meeting. The main agenda item was a presentation from Kentucky Association of Counties (KACo) leaders and county officials on jail funding and jail-system reform. Speakers said county jail costs have reached crisis levels, citing large and rising general-fund subsidies in counties such as Hardin, McCracken, and Warren, and noting that county general-fund contributions to jail funds have increased by 76% since 2019.
KACo outlined a three-part legislative approach for the upcoming session: incentivizing regional jails, clarifying responsibility for pre-trial felony detainees, and redefining the model for housing state inmates in county jails. On regional jails, they proposed one-time state construction funding, statutory changes to allow former county jails to serve as 96-hour holdover facilities, broader participation of jailers on regional jail authority boards, an increased supplement for closed county jails, and a one-time payment for counties that close local jails and join regional facilities. Union County Judge Adam Onan described his county’s savings from contracting with Webster County and said regionalization can reduce costs where feasible.
Harlan County Judge Executive Dan Mosley focused on pre-trial felony detainees, saying counties bear the full cost of housing people awaiting trial for long periods, sometimes years, and that pre-trial time is later credited toward state sentences. He argued the state benefits from that credit and referenced prior bills that would have reimbursed counties for time-served credit. Shelley Hampton then proposed replacing the current per diem model for state inmates with contracts requiring the Department of Corrections to pay actual housing costs and to support programming such as substance abuse treatment, cognitive behavioral programming, re-entry services, workforce training, and academics. No votes were taken on the jail proposals, and the meeting ended with the presentation and discussion of the county recommendations.
MN
Transcript Highlights:
- What this credit is designed to do is to encourage the middle class to be able to purchase and sustain
- premiums, keep paying those premiums, and keep that coverage and protect themselves as the middle class
- to be able to encourage the middle class to be able to<00:01:52.560>
purchase <00:01:53.079>- is to offer incentives for middle class is to offer incentives for folks<00:02:20.920>
and <00- Representative Lee said the tax credit is meant to incentivize middle-class folks to invest in their
- is to offer incentives for middle class is to offer incentives for folks<00:02:20.920>
MN
Minnesota 2025 1st Special Session
House Workforce, Labor, and Economic Development Finance and Policy Committee 2/18/25
Workforce, Labor, and Economic Development Finance and Policy
Transcript Highlights:
- <00:35:34.880>
in had you know Health occupation class in had you know Health occupation class - He added that he was impressed that the educational institutions wanted to have full classes, that they
- that they wanted to have full classes that they wanted to have full classes they<01:01:37.160>
- nurse to<01:03:41.760>
co- <01:03:42.039>te <01:03:42.599>a <01:03:42.880>class - at the high school to co- te a class at the high school level<01:03:45.160>
so <01:03:45.760>< - nurse to<01:03:41.760>
Keywords:
HF110, Adrian Independent School District, Independent School District No. 511, school construction, sales tax exemption, use tax refund, refundable exemption, construction materials, capital improvements, school roofing, playground remodel, retaining walls, plumbing, bathroom remodel, locker room remodel, window replacements, local tax relief, general fund appropriation, Minnesota chapter 297A, retroactive tax refund
HI
Hawaii 2025 Regular Session
FIN/WAM Joint Info Briefing - Tue Jan 21, 2025 @ 1:00 PM HST
Hawaii House Floor Meeting
Transcript Highlights:
- which is our people occupied tax class which is our people that<00:24:17.120>
live <00:24:17.360 - When you add in what you would consider the residential investor tax class, they constitute about 75%
- today in total the vacation rental class today in total the vacation rental class combined<00:26
- 00:26:35.919>
tax call it the residential investor tax call it the residential investor tax class - about class they constitute about 75%<00:26:40.640>
of <00:26:40.799>our <00:26:41.080>
NH
Transcript Highlights:
- <01:27:28.800>
So, incorporates class A misdemeanors. - So, incorporates class A misdemeanors.
- if they're not a member of that class. if they're not a member of that class.
- You're still here. class. I don't I'm just asking what's class.
- And as a student and representative of the class of '29, we do not want this bill to pass.
TX
Transcript Highlights:
- So you could go to GED classes or be working on your high school equivalency.
- That could include also CTE classes.
- She referenced classes, but it's not a class or two classes.
- She referenced classes, but it's not a class. wraparound services.
- She referenced classes, but it's not a class or two classes.
MN
Transcript Highlights:
- The classification tier rates for class 1C homestead resorts is modified.
- And for purposes of class 2C managed forest land, property subject to a conservation easement is allowed
- The classification tier rates for class 1C homestead resorts is modified.
- And for purposes of class 2C managed forest land, property subject to a conservation easement is allowed
- Districts with class 4C seasonal recreational property.
MN
Minnesota 2025-2026 Regular Session
Committee on Jobs and Economic Development - 03/16/26
Jobs and Economic Development
Transcript Highlights:
- We also have a coding class for students who are otherwise missing out on critical STEM skill sets.
- <00:35:18.160>
for <00:35:18.400>students We also have a coding class for students - So, for example, our coding classes are led by former robotics faculty members within Minnesota.
- So, for example, our coding classes are led by former robotics faculty members within Minnesota.
- So, for example, our coding classes are led by former robotics faculty members within Minnesota.
ND
North Dakota 2026 1st Special Session
Child Custody Review Task Force Feb 23rd, 2026 at 10:00 am
Transcript Highlights:
- finally settled, he has reported that his ex-wife is still creating various to attend co-parenting classes
- Chairman, if I might, my scheduling order for divorces always includes a parenting class.
- Chair, but I'm trying to wrap my head around the Parents Forever class because I was in the situation
- Chair, but I'm trying to wrap my head around the parents forever class because I was in the situation
- You know, in those situations where someone absolutely is unable to pay for a class like that, right
Summary:
The Child Custody Review Task Force met with a quorum, approved the prior meeting minutes, and reviewed a memorandum compiling member suggestions for possible legislation. The memo grouped ideas into topics including creation of a family court, expanded education for parents, attorneys, and judges, expedited hearings for parenting-time violations, limiting law enforcement involvement in custody disputes, creating parenting time expediters, and adopting more uniform court procedures. Members also discussed whether to form subcommittees, but the task force decided to continue working as a full committee rather than create subcommittees at this time.
The committee then heard testimony from Dr. John Perez, a mental health professional, who described his personal custody experience and his professional work with families he believes have been affected by parental alienation. He argued for stronger education, faster court response times, and better tools to address intentional interference with parenting time. Members questioned him about his case history, the concept of parental alienation, and whether specialized family courts or judges with family-law training could help. Dr. Perez said a dedicated family court and faster hearings would likely have helped his situation.
The task force spent substantial time discussing the possible creation of a family court. Judge Hovey supported the idea of a specialized family court or at least a study of one, saying family cases are distinct from ordinary adversarial litigation and that judges with family-law experience could better handle them. Several members agreed that a family court could improve consistency, expertise, and speed, but others cautioned that the task force’s current directive is focused on enforcement of existing orders rather than broader custody policy, and noted that voters had previously rejected equal shared parenting proposals. The group also discussed expedited procedures for parenting-time disputes, with Judge Hovey suggesting a 30-day hearing timeline may be workable.
On education, members generally supported requiring parents to complete a parenting education course and adding educational materials explaining court process, child support, and what judges can and cannot do. Mr. McLean suggested a short instructional video for litigants and more family-law education for judges and attorneys, while Ms. Moldenhauer said education could be incorporated into scheduling orders or mediation orders. Members also discussed the Parents Forever course, including whether it should be mandatory in all counties and whether cost is a barrier; no vote was taken on any of these proposals.
NH
New Hampshire 2025 Regular Session
Public Higher Education Study Committee (11/12/2025)
Transcript Highlights:
- that path to maybe make it so that you can have your two-year degree and then get those advanced classes
- <00:20:28.640>
that <00:20:28.799>are those advanced classes that are those advanced - classes that are necessary<00:20:29.200>
in <00:20:29.280>the <00:20:29.440>four-year - third year or whatever that you have the same content and you have the same understanding of the classes
- Whatever that you have the same content and you have the same understanding of the classes and the...
Summary:
The committee met to review the annual report on collaboration between the University System of New Hampshire and the Community College System of New Hampshire, and the meeting began with approval of the prior minutes and a gubernatorial proclamation recognizing the community college system’s 80th anniversary. Both chancellors praised the proclamation and described the report as a statutory follow-up to the public higher education task force. They said the two systems have built a close working relationship and that the collaboration is intended to continue, though progress may be limited by resources and staffing changes.
Much of the discussion focused on transfer pathways and new academic models. The chancellors said House Bill 1530 helped drive the creation of more than 100, and possibly about 130, “universal pathways” between the systems, with a reported 30% increase in community college associate-degree graduates transferring to the university system in the last academic year. They also discussed direct-admit outreach for community college graduates, early college and CTE-to-workforce pathways, and the development of three-year bachelor’s programs at Plymouth State and in some health-care fields. Members asked about nursing, allied dental health, and radiologic technology, and the chancellors said they are exploring whether some programs can be streamlined, while noting that nursing’s requirements may limit how short a pathway can be.
Members also raised concerns about whether transfer pathways could affect university enrollment, but the university chancellor said declining enrollment is more likely due to a smaller pool of college-age students and broader competition, not the transfer programs. Another topic was the ERP/technology platform recommendation from the task force: the university system is moving to Workday, while the community college system is working to align business practices and move from an on-premises system to a cloud-based solution. Officials said a shared enterprise system could create efficiencies in the future, but it is not expected in the short term; student-facing tools like Canvas are already shared. The committee also discussed House Bill 112, which would require passing a civics test for graduation, and the chancellors said they support civic education but see implementation challenges. No votes or formal actions were taken beyond approving the minutes and receiving the report.
TX
Texas 89th Regular
Congressional Redistricting, Select Jul 28th, 2025
Congressional Redistricting, Select
Transcript Highlights:
- I'm an Air Force veteran, a proud union member, a working-class organizer, and a Black woman who has
- Hazardously, when you buy or bury urban, suburban, working-class, veteran, and minority neighborhoods
- I'm here for all of the regular working-class families that go to church at St.
- Someone clearly failed government class. And as... ...ill-equipped to hold public office.
- Class dismissed. Chair, the witness is excused. Chair calls Joseph Schuessler.
KY
Kentucky 2025 Regular Session
House Standing Committee on Primary and Secondary Education (3-5-25)
Transcript Highlights:
- Terroristic threatening in the third degree is a class A misdemeanor.
- Terroristic threatening in the first and second degree is a Class D felony.
- Terroristic threatening in the third degree is a class A misdemeanor.
- Terroristic threatening in the first and second degree is a Class D felony. committed suicide uh last
- <00:21:47.159>
D <00:21:47.880>Felony And second degree is a Class D felony.
Summary:
The committee first took up House Bill 669, sponsored by Representative Smith, which was presented as a response to a September shooting incident in his district that led to school closures and missed instructional days. Smith said the bill was intended to help school districts recover lost days caused by extraordinary emergencies and not to set a broad precedent. Members asked whether districts had adjusted calendars to make up time, and Smith said many had already extended days or moved calendars into June. The committee then voted to pass House Bill 669, with all members present voting yes.
The committee next heard House Bill 621, as amended by a committee substitute that removed a homeschooling-related section and left only the school-threat provisions. The bill would allow courts to impose a fine on parents when a child is adjudicated for terroristic threatening if law enforcement incurred excessive costs, and it would require a mental health assessment for the child. Representative Duvall and Officer Steve Chappelle supported the measure, arguing that online school threats spread fear, disrupt attendance, pull law-enforcement resources from other schools, and should create more parental accountability. Representative Riley also supported the accountability goal, citing lost instructional time and a recent student suicide tied to online issues.
Several members raised concerns about the bill’s scope and due process. Representative Josh Callaway questioned why this offense should be the starting point for parental fines and warned about a slippery slope in holding parents liable for children’s crimes. Representative Willner said the bill seemed more like a judiciary issue, questioned whether punishment can make parents better parents, and asked about diversion programs and the meaning of the detention language. Representative Tipton pointed to existing statutes on mental health assessments and terroristic threatening penalties, and said the committee substitute would alleviate many concerns. Scott West, speaking for Kentucky Policy and the Kentucky Association of Criminal Defense Lawyers, argued that the mandatory detention language would remove judicial discretion and that the parental fine provision could conflict with existing due process protections requiring notice, a hearing, and a finding that lack of supervision was a substantial factor in the child’s delinquency. The transcript does not show a final vote on House Bill 621 in the portion provided.
KY
Kentucky 2025 Regular Session
House Standing Committee on Families & Children (2-20-25)
Transcript Highlights:
- options to the sentencing options for the judge, specifically services like counseling, parenting classes
- options to the sentencing options for the judge, specifically services like counseling, parenting classes
- and parenting classes and they fail<00:52:05.839>
and <00:52:05.960>they <00:52:06.119> - Sometimes they need to go to parenting classes because they're eventually going to be integrated, so
- so because they're parenting classes so because they're eventually<00:57:55.520>
going <00:57:
Keywords:
00:00:00 Call to Order/Roll Call
00:01:20 Discussion of 25RS HB 479
00:03:22 Roll Call Vote on 25RS HB 479
00:04:51 Discussion of 25RS HB 574
00:21:49 Roll Call Vote on 25RS HB 475
00:23:41 Discussion of 25RS HB 291
01:04:38 Roll Call Vote on 25RS HB 291
01:05:42 Adjournment, 958, all
Summary:
The House Standing Committee on Families and Children met and first took up House Bill 479, which would require one hour of dementia training for DCBS workers. Representative Derrick Lewis and the Alzheimer’s Association said the bill was a straightforward, bipartisan effort to address dementia awareness and improve worker training, with no fiscal impact. Members spoke in support, including remarks about personal family experiences with dementia and the importance of recognizing symptoms early. The committee voted 11-0 to pass the bill with favorable expression.
The committee then heard House Bill 574, the “Baby Maya” child protection bill, sponsored by Representatives Dossett and Lewis. The bill would require reporting when a child is born to a parent who previously had children removed for neglect or abuse, create a rebuttable presumption allowing the Cabinet for Health and Family Services to make an initial safety determination, authorize emergency custody procedures, and name the measure the Baby Maya Law. Sponsors said it was intended to add guardrails after the Baby Maya case and stressed that it would not automatically remove children or add new mandatory-reporter penalties. Members asked about hospital involvement, HIPAA, and information-sharing; the Cabinet commissioner said the agency would be open to better data-sharing with hospitals, but currently has no such system. The bill passed 12-1 with favorable expression.
Finally, the committee considered House Bill 291, the Family Preservation and Accountability Act, with a committee substitute. The bill would expand sentencing alternatives for primary caregivers convicted of nonviolent offenses, allowing judges to consider family status and use options such as counseling, parenting classes, and related services. Supporters argued it would keep families together, reduce harm from parental incarceration, and save money; one witness cited a report estimating $4 million in direct incarceration savings and broader economic benefits. Another witness, Amanda Hall, gave emotional testimony about the long-term harm of parental incarceration and said access to help would have been better for her family than prison. The committee adopted the committee substitute and passed the bill 12-1 with favorable expression.
KY
Kentucky 2025 Regular Session
Senate Standing Committee on Licensing and Occupations (2-18-25)
Transcript Highlights:
- The first offense is a Class B misdemeanor. The second offense is a Class A misdemeanor.
- The third and subsequent offenses are Class D felonies.
- c><00:24:37.720>
misdemeanor <00:24:38.679>slap <00:24:39.039>on offense is a Class - <00:24:41.320>
A the hand second offense is a class A the hand second offense is a class A - and subsequent subsequent<00:24:45.440>
offenses <00:24:46.360>are <00:24:46.720>class
Keywords:
Call to Order 00:00:00
Roll Call 00:00:35
SB 22 Discussion 00:01:20
SB 22 Vote 00:11:45
SB 100 Discussion 00:15:07
SB 100 Vote 00:38:53
SB 88 Discussion Only 00:42:11
Adjournment 01:03:52, 958, all
Summary:
The Senate Standing Committee on Licensing and Occupations met on February 18, 2025, and first took up Senate Bill 22 by Senator Reginald Thomas, which was presented as a cleanup measure following prior cosmetology reforms and a Legislative Oversight and Investigations report. The bill would allow cosmetologists to retake exams multiple times with a one-month wait, authorize the Board of Cosmetology to immediately close facilities that intentionally use unlicensed workers while preserving due process, give the board flexibility to hire an executive director based on qualifications rather than licensure, and recognize certain out-of-state or territorial cosmetology licenses. Board officials said the changes were intended to improve fairness, equality, and administrative due process. Senators asked about retesting fees and whether partial retests could dilute standards; Thomas clarified that the exam is cumulative and must be retaken in full. The committee approved SB 22 with all favorable votes, and Senator Meredith explained his support as a workforce and fairness issue.
The committee then heard Senate Bill 100 by Senator Jimmy Higdon, as substituted, concerning tobacco, nicotine, and vapor product retail licensing and enforcement. Youth advocates from the University of Kentucky testified in support, describing youth nicotine use as a public health crisis and urging stronger enforcement, annual compliance checks, retailer licensing, and tougher penalties for illegal sales to minors. Higdon said the bill would create a Division of Tobacco, Nicotine, and Vapor Products Licensing within ABC, require licenses for retailers, authorize inspections and confiscation of contraband, impose escalating criminal and civil penalties for unlicensed sales and sales to minors, publish a list of licensed retailers, and dedicate fine revenue to enforcement and youth education. He said the measure targeted bad actors rather than responsible retailers. A retailer witness also supported licensing but raised concerns about contradictory product definitions that could sweep in hemp and medical marijuana vapor products, and asked that the bill be delayed until after an expected Supreme Court decision affecting federal vapor-product rules. The transcript ends during discussion of SB 100, before any committee vote on that bill.
TX
Transcript Highlights:
- One thing we're doing is interviewing every recruit in every class: Why are you here at DPS?
- Our recruiting is—our last four or five classes, really the last three years—our classes are majority
- Our two classes right now, we have 280-some-odd recruits in class right now as we speak.
- Each class, over 65, 66% is from Region 3, and most of those in the Rio Grande Valley.
- But 60-some percent of our classes now seem to, every class, seem to be from Region 3.
Bills:
SB 1
Keywords:
campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards
Summary:
The Senate Finance Committee heard a presentation from the Legislative Budget Board on the Texas Department of Public Safety’s Article 5 budget. LBB recommended $3.7 billion in all funds for 2026-27, a 5.2 percent decrease from the base, while FTEs would rise by 856.7. Major items included funding for driver license services, DPS facilities, troopers and recruit schools, crime labs, vehicle and aircraft operations, border security, and rider changes. The committee also reviewed DPS exceptional items not included in the recommendation, including additional staffing, technology, and facility requests.
Members focused heavily on driver license operations, criticizing long wait times, call abandonment, and repeated staffing increases without clear process improvements. LBB said the agency’s call-answer rate was about 9 percent in fiscal 2024, with average hold times around 34 minutes, later reduced to roughly 22-25 minutes. Senators questioned whether more FTEs alone would solve the problem and urged a broader efficiency study and better use of technology. DPS officials said they were pursuing process changes, including appointment-system upgrades, online pre-population of forms, and remote issuance options, while noting that Real ID requirements and population growth continue to drive demand.
DPS leadership then outlined the agency’s priorities: completion of the Williamson County training academy, recruitment and retention of troopers, capital needs for vehicles and aircraft, and expanded responsibilities at the Capitol complex and the Alamo. Officials said the new trooper funding would help address staffing shortages, public safety, and border operations, and that overtime and deployment patterns had been adjusted to reduce burnout and improve flexibility. They also discussed Operation Lone Star, saying DPS spending is largely overtime, travel, and fuel, and that the agency continues to coordinate with federal partners while awaiting clarity on possible federal reimbursement for border security costs. Senators also raised concerns about oilfield theft, cartel activity, high-speed pursuits, bilingual pay, and the Texas Ranger Hall of Fame and Museum, and DPS said it would follow up on some of those issues.
ND
North Dakota 2025-2026 Regular Session
Legacy and Budget Stabilization Fund Advisory Board Mar 31st, 2026
Transcript Highlights:
- across the real estate sectors, over time, typically real estate is a very durable, returning asset class
- Supply and demand like any other asset class, you know, you can imagine each little individual space
- So it's a very well-performing, durable asset class.
- That said, this is, I believe, an asset class that's here to stay. It's going to have legs.
- If we look at the Legacy Fund performance detail, this just gives you an idea by asset class.
Summary:
The committee met to approve prior minutes and receive updates on the Legacy Fund transparency website and fund performance. Staff reported the website procurement was in contract negotiations, with a planned go-live around November 1, and that the site would provide downloadable, more transparent information on fund holdings, allocations, history, and legislative appropriations while protecting confidential data. The investment office then reviewed performance through January 2026, describing strong returns relative to benchmarks, noting real estate and fixed income as weaker areas, and explaining that the fund’s diversification and internal management had helped offset market volatility, including recent geopolitical impacts.
Members also discussed the in-state investment program, especially the Bank of North Dakota’s CD-match allocation. Several members questioned whether the program had been static for years and whether the uncommitted balance should remain parked there if it was not being used. The committee voted to pause further transfers into the program until the Bank provides a report and the committee can consider possible statutory changes; the motion also requested a cost-benefit analysis from RVK, and it passed by roll call vote.
In the afternoon, RVK presented its review of the investment policy statement as it relates to the in-state investment program. The consultant said it found no major policy impediments, and that implementers and stakeholders generally felt the program was proceeding as intended. RVK emphasized best practices such as third-party due diligence, competitive risk-adjusted returns, diversification, pacing, and exit strategies, while cautioning that required lower-return investments or spending commitments can create pressure on the fund’s long-term real value. The consultant also raised ancillary concerns about state-level concentration risk, the need to distinguish between public and commercial infrastructure, and the lack of a central repository for all state funding commitments to the same projects.