Transcript Highlights:

• We're going to go to the report on the Economic Development Revolving Fund with **Fernando Martinez**
• The Economic Development Department was the state's recipient of those funds, and we entered into an
• They're not really research and development tech-focused funds.
• Fund One.
• The programs we discussed earlier through the Economic Development Revolving Fund would be the only programs

Transcript Highlights:

• of the minimum operating segment identified in the full funding grant agreement and the development
• in the event of of federal funding in the event of funding<00:15:46.360> freezes<00:15:46.800
• segment identified in the full funding segment identified in the full funding Grant<00:16:53.279
• <00:16:55.040> of Grant agreement and the development of Grant agreement and the development of
• of the minimum operating segment identified in the full funding grant agreement and the development

Keywords: 912, senate, all

Summary: The committees considered a large number of Senate bills, with many measures advanced either unamended or with technical or substantive amendments. Early action included SB 88 and SB 11 SD1, both passed unamended, and SB 562 SD1 and SB 642 SD1, which were passed with amendments reflecting agency testimony. SB 1133 SD1 was amended to remove duplicative county requirements and clarify tax credit carry-forward eligibility, while SB 1569 SD1 on sports wagering was deferred. Later, SB 933 on nonprofit/federal funding support drew strong testimony from nonprofit and health advocates emphasizing the risk of federal funding freezes and the importance of protecting services such as early learning, domestic violence support, housing, and workforce supports; the committee recommended amendments to define eligible organizations, require reporting, and include the Judiciary. SB 934 and SB 935 were also amended, with SB 934 tying mass transit funding to Honolulu project milestones and SB 935 revising retirement-system language to change “fewer than five years” to “five or more years.” The committees then took up additional measures with targeted amendments. SB 1033 was amended to clarify that the bill applies to legal entities, not individuals, though members noted concerns about closely held family corporations and asked that the issue be reflected in the committee report. SB 1166, SB 1249, and SB 1256 were advanced with amendments or committee-report notes reflecting concerns from the Attorney General, Hawaii Cattlemen’s Council, and Hawaii Farmers Union United, respectively. SB 1432 and SB 137, both relating to electric utilities, were amended to require retention of covered employees after mergers or acquisitions and to direct the PUC to consider whether proposed transactions further state policy goals. SB 157 on antitrust was narrowed to focus on coordinator conduct in rental housing markets, SB 252 on invasive species received a defective effective date, and SB 336 on defense of state employers and employees passed unamended. SB 536 on the Hawaii Community Development Authority was deferred to a later hearing, and SB 1064 on medical cannabis was heavily amended to authorize cultivator licenses with limits on canopy size, license counts, physician fees, and a special-fund appropriation for enforcement. In the Ways and Means portion, the committee passed several bills unamended, including SB 19, SB 124, SB 264, SB 345, SB 422, and SB 741 and SB 747 later in the agenda. SB 361 was amended to remove references to the attorney general and delete an appropriation section, SB 438 was amended to redefine buffer zones and landfill-unit language, and SB 441 and SB 494 were amended to blank appropriations and, in SB 494, assign charter-school audit responsibility to the state auditor. SB 659 was substantially amended to promote local procurement, including county-level geographic preferences and higher thresholds for locally sourced purchases, and SB 732 was amended to adjust film tax credit provisions, including the streaming-platform definition and sunset-related language. SB 819 was amended to replace references to “educators” with “teachers.” Throughout, most measures were adopted without recorded opposition, though several members noted reservations on particular bills.

Transcript Highlights:

• If it was just SIF funds, I would say, okay, we're giving you the SIF funds.
• If it was just SIF funds, I would say, okay, we're giving you the SIF funds.
• Chairman, no funds could be expended until the fund is $10 million.
• No, I just wanted to point out that the funding that goes into this bill is for professional development
• funding into DPI.

Keywords: 908, all

Summary: The committee first heard Senate Bill 2265, which would provide the Fargo National Cemetery with up to a $3 million line of credit to help fund improvements such as indoor bathrooms, parking, a family gathering area, an office, a hearse garage, and a veterans gallery. Supporters said the cemetery has expanded rapidly since 2019, has already conducted about 1,000 burials, and needs better facilities for families and the Honor Guard; they also said the project would be subject to federal VA approval and, once completed, would be taken over by the VA. Members raised questions about the project’s cost, timing, funding sources, whether the bill should be a grant instead of a line of credit, and whether a chapel should be specifically included. No vote was taken on SB 2265 during the excerpt. The committee then took up Senate Bill 2230, which would have the Secretary of State mail active voters a guide on ballot measures at least 45 days before an election, with objective summaries, fiscal impacts, and arguments for and against each measure. Secretary of State Michael Howe said the office already receives many questions about ballot measures and would post the same information online and at polling places, while emphasizing the need to keep the material objective and consistent with election-law restrictions. Members generally supported the idea as a voter-education tool, and the committee adopted a due pass motion on SB 2230 by a 19-0 vote. Finally, the committee heard Senate Bill 2256, which would provide one-time state support for the NDSU Research and Technology Park in Fargo to expand its role in commercialization, robotics, precision agriculture, and defense-related technology. Park CEO Brenda Weiland explained that the park is a 501(c)(3) nonprofit spun out of NDSU, governed by a board with both university and industry representation, and that the new model is intended to bridge the gap between research and market-ready products without competing directly with private industry. Members asked about ownership, intellectual property, the planned partnership with Carnegie Mellon’s robotics center, and how the park would use the funding; the discussion focused on contracts, licensing, and the park’s intent to build technical capacity and attract companies. The excerpt ends before any vote on SB 2256.

Transcript Highlights:

• Indian Water Rights Fund.
• Also, I'd like to thank you for the raise funding, the Rural Air Service extension funding in House Bill
• And we are very grateful that New Mexico Economic Development Department just awarded funding to have
• by the Economic Development department or Mr.
• There was 60 co-ops that got funding from this program.

Transcript Highlights:

• Presumed ongoing amounts from the workforce development fund.
• fund to Inspire workforce development fund to Inspire MSP.<00:20:28.080> And<00:20:28.240>
• fund to a for a grant to the development fund to a for a grant to the city<00:57:41.760> of<00
• Fund, one time, to the Asian Economic Development Association.
• <01:07:14.480> the<01:07:14.640> agent development fund one time to the agent development

Keywords: 1187, senate, all

Transcript Highlights:

• We know that while this is a tight funding year, we know that without adequate resources we cannot fund
• This fund was funded at $8 million one time in the last budget cycle, and what an earlier speaker was
• <00:31:25.679> development nonprofit community development nonprofit community development
• Column B shows the fund where the funds come from.
• We do not anticipate any significant new federal funding for housing development or... uh as initially

Keywords: 1187, senate, all

Transcript Highlights:

• I invest the state's EIDL funds, as well as the EIDL funds for 2,200 local governments.
• Additionally, we fund our other Song-Brown programs. through special funds and one-time general fund
• And the level of funding they may need, whether that's for development, or some of them didn't require
• Payments Data Fund.
• Fund, with the remainder being special funds.

Keywords: 988, house, all

Transcript Highlights:

• It's also not state-restricted funds; it's restricted funds from the fire commission.
• with $12,919,400 in federal funds from the Federal Highway Administration and $80,600 road fund.
• with $12,919,400 in federal funds from the Federal Highway Administration and $80,600 road fund.
• or the infrastructure revolving fund or fund<00:30:02.159> B<00:30:02.480> program.
• The city of Mount fund B program.

Keywords: 00:02 Call to Order and Roll Call 00:45 Approval of Minutes 01:01 Information Items 06:25 Project Rpt from Postsecondary Institutions-KCTCS 10:50 Project Rpt from Finance and Admin Cabinet 18:08 Lease Rpt from Finance and Admin Cabinet 27:12 Rpt from OFM – KY Infrastructure Authority 33:56 Rpt from OFM – CED EDF Grants 47:20 Rpt from OFM – Office of Financial Mgmt 56:53 Adjournment, 958, all

Summary: The committee first handled routine business, including approval of the February meeting minutes and several information items. Those items covered university equipment purchases, school district and transportation-related debt issuances, Northern Kentucky University’s planned construction-manager/general-contractor delivery method for the medical examiner/crime lab relocation project, a lease-space advertisement, postsecondary asset preservation allocations, and lease-law compliance reports. Members then discussed the Northern Kentucky crime lab project in more detail; staff explained that the memorandum of agreement would cover the construction portion while the lease would cover operations, and members were told the project should move forward without procurement problems. The committee approved a Kentucky Community and Technical College System project to modify the fire academy maintenance building after the related dormitory project was set aside because of major cost overruns. KCTCS said the dormitory would be about $3 million over budget, so it would not be bid; instead, the maintenance building would be expanded to add showers and restroom/locker facilities, bringing that project from $2 million to about $3.2 million. The committee also approved a Transportation Cabinet project for the Hardin County I-65 southbound commercial motor vehicle station relocation, with members asking about the estimate, the lack of a direct prior example, and the fact that the loadometer equipment itself would be purchased separately and was not included in the construction estimate. Finance and Administration Cabinet lease items were then considered. The committee approved a Department of Public Advocacy lease in Christian County and a Transportation Cabinet vehicle regulation lease in Kenton County, both negotiated down from initial asking prices and both including utilities. Two lease modifications were reported without action: a Department of Revenue fit-up in Jefferson County and an expanded vehicle regulation lease in Adair County. Members also approved a package of Kentucky Infrastructure Authority items, including four loans and six Cleaner Water Program grant reallocations, covering sewer and water projects such as MSD’s Patty’s Run flood pumping station, Paducah-McCracken County’s wastewater treatment plant, Mount Washington’s lift station replacement, and Eminence’s wastewater plant expansion. Finally, the committee heard a batch of Kentucky Product Development Initiative economic development grants and approved the action items in one vote. The projects included due diligence and infrastructure work for industrial and site-development projects in multiple counties, with local match requirements and KEDFA approvals described for each. The committee also received three line-item water grants from House Bill 1 that required no action, and the meeting ended after the grant presentations and approvals.

Transcript Highlights:

• in funding for ALUNA.
• Getting the funds and all.
• And that funding, it's my understanding, so I want to get this: if the funding isn't in place for some
• We are looking for those funds to fund the new projects and the good relationship that we have.
• That may be an area where federal funding and federal matching funds remain available under the Current

Transcript Highlights:

• In the budget a few years back, we also received funding for workforce development dollars, roughly $65
• counties, some had desires to develop higher-level funding, and we weren't funded at that level for
• So, you know, we envisioned that when we developed this program, that it would fund, like, the initial
• with the county, some had desires to develop higher level funding, and we weren't funded at that level
• And so, you know, we envisioned that when we developed this program, that it would fund, like, the developed

Summary: The Assembly Budget Subcommittee on Health held an informational hearing on the Governor’s May Revision, focusing first on the Commission on Behavioral Health, then EMSA, and then the California Department of Public Health (CDPH). The Department of Finance said the state faces a third consecutive deficit and that the May Revision includes difficult trade-offs, including proposed eliminations or reversions of some behavioral health and public health funds. The LAO echoed concern about the structural deficit and said it was still awaiting some budget details before offering a full analysis. For the Commission on Behavioral Health, Finance proposed eliminating $20 million in Mental Health Wellness Act funds, arguing the money would help offset General Fund costs and noting future Proposition 1 innovation funding. The commission strongly opposed the cut, saying it would eliminate or delay launch-ready grants for early childhood supports, full-service partnerships, and peer respite, and would eventually end ongoing grant programming. Several advocates and commissioners testified that the funds support underserved communities and that Proposition 1 is not a substitute for the existing programs. The chair asked Finance to look for alternatives, but no vote was taken. EMSA presented mostly technical budget adjustments: increased authority for the California Poison Control System, a correction to EMSIS funding, and a reappropriation for enterprise services and data management. CDPH then reviewed a broader set of May Revision proposals, including reversions from the California Reducing Disparities Project, workforce development, STD prevention, hepatitis C prevention, hospice, and extreme heat funding, as well as a new generative AI pilot for health facility survey reporting. Members raised concerns about cuts to CRDP and gender health equity programs, especially because many grants are mid-contract and serve underserved communities; CDPH said the reversions were part of solving the deficit and that CRDP had been successful, while also clarifying that abortion.ca.gov would not be eliminated. Public comment was overwhelmingly opposed to the CRDP and related cuts, with many speakers describing the programs as life-saving and cost-effective. No formal votes or actions were taken during the hearing.

Transcript Highlights:

• So we are not asking about moving funds from Merced to Bakersfield because we have the funds to build
• to that funding source.
• funding materialize.
• that funding materialize.
• And I think anything beyond that, there is a large funding gap, a very large funding gap.

Keywords: 987, senate, all

Summary: The Senate Transportation Committee held an informational hearing on the California High-Speed Rail Authority’s 2026 draft business plan, with testimony from the authority, the Legislative Analyst’s Office, and the High-Speed Rail Inspector General. Chair Cortese framed the hearing around major changes since the 2024 plan, including a new CEO, revised scope for the Merced-to-Bakersfield initial operating segment, the loss of about $4 billion in federal funds, and the authority’s push for private investment, value capture, and public-private partnerships. The authority’s CEO said the project is now in a more disciplined phase, with most major structures in the Central Valley underway or complete, track procurement moving forward, and an updated target of revenue service for the initial operating segment by early 2033. He also highlighted cost-saving “optimization,” direct procurement of materials, and plans to pursue ancillary revenues from real estate, energy, broadband, and logistics. Committee members pressed the authority on several issues, including proposed station relocations in Merced and Bakersfield, reduced double-tracking, the need for tax increment or other value-capture tools, utility relocation authority, permitting delays, transparency, and whether the project can still qualify as true high-speed rail. The CEO said the station locations are still under discussion with local governments, that the project will still be built to high-speed standards, and that the authority is seeking legislative changes to reduce delays and enable financing. Senators also questioned the loss of federal funds, the use of future cap-and-invest revenues, and the feasibility of private financing; the authority said the project can proceed without the withdrawn federal money but that it will keep applying for grants and exploring ways to bring future revenue forward. LAO and the Inspector General were sharply critical of the draft plan. They said it does not fully comply with newer statutory requirements in SB 198 and AB 377, especially because it assumes a different Merced station location and a largely single-track segment without clearly identifying those as scope changes. They also said the plan omits key funding details, including borrowing costs that could total billions, and relies on assumptions about future legislative changes, financing, and project savings that may not materialize. The Inspector General said the draft plan falls short on required business-plan elements, including comparable cost estimates, a complete funding plan, and projected procurement milestones. In response, the authority committed to address the OIG’s findings in the final business plan and to provide a written response on compliance before the plan is finalized.

Transcript Highlights:

• And then in fiscal year 2024-25, they received $2 million from the Workforce Development Fund.
• the Workforce Development Fund, and Senate File 1151 is requesting one-time funding of $400,000 in fiscal
• <01:32:06.480> Fund<01:32:07.199> to the Workforce Development Fund to the Workforce
• Fund over the Workforce Development Fund over the banum<01:42:56.159> was<01:42:56.440> appropriated
• from the Workforce Development Fund.

Keywords: 1187, senate, all

Transcript Highlights:

• We're here to talk about developing New Mexico's geothermal energy as economic development.
• While we develop and promote the longer-term development of advanced geothermal electricity, that final
• A geothermal roadmap, kind of a cookbook, so to speak, will be developed to help geothermal developers
• development fund and geothermal project revolving loan fund toward clean energy industrial heat projects
• Environmental Defense Fund. And Dr.

Transcript Highlights:

• Now, we get to hear from the early childhood development fund.
• The Head Start federal fund is an annual recurring amount, and the Preschool Development Grant ended
• Now, if we do get preschool development funding from the federal government, if it's written into the
• We do get preschool development funding from the federal government.
• for Head Start and matching funding for Head Start and preschool<01:24:40.320> development<01

Keywords: Meeting Start 00:00:00 Attendance Roll Call 00:00:07 Chair Comments 00:00:36 Approval of Minutes 00:04:01 Volunteers of America 00:04:21 Soil and Water Conservation/Energy and Environment Cabinet 00:14:52 Kentucky Office of Drug Control Policy/Justice & Public Safety Cabinet 00:21:05 Kentucky Department of Agriculture 00:26:01 Early Childhood Advisory Council 00:45:18, 958, all

Summary: The Tobacco Settlement Agreement Fund Oversight Committee met to review how tobacco settlement dollars are being used and to press recipients for detailed information on total funding, administrative versus program spending, and measurable outcomes. The chair emphasized that the committee was not there for general program overviews, but to assess return on investment and whether each program should continue to receive tobacco settlement support. The committee approved the minutes from its December 22, 2025 meeting and then heard presentations from several agencies and organizations. Volunteers of America Mid-States described its southeastern Kentucky restorative justice program, which uses an evidence-based New Zealand model for juvenile cases in nine counties. The group reported tobacco settlement funding of $516,000 in FY24 and $233,500 in FY25, representing about 17% and then about 5% of the program budget, respectively. It said the funding helped expand the program from 13 cases in 2021 to 180 youth served, and cited an independent evaluation showing recidivism of 24.5% compared with 40.4% in AOC data, along with a cost of a little under $20 per day versus detention and other placements. Some members questioned whether the program fit the tobacco settlement funding categories and suggested it might be better supported through other justice-related funding sources. The Energy and Environment Cabinet’s Division of Conservation explained that tobacco funds support $1 million in direct aid to conservation districts and $2 million in cost-share projects for farmers, with 5% of the cost-share appropriation allowed for administration, or about $100,000 in FY26. Officials said the direct-aid line was moved into tobacco funding in 2019, reducing money available for farmer cost-share, and described a multi-year project approval and reallocation process. Senator Webb asked for a more specific breakdown of the $850,000 direct-aid amount, and the cabinet said it would provide that information. The Kentucky Office of Drug Control Policy reported that in FY24 it expended just under $30 million across tobacco funds, general funds, restricted funds, and a one-time federal grant, with less than 2% used for administration. Officials said most tobacco settlement money goes to Kentucky ASAP local boards in all 120 counties, supporting prevention, treatment, and some law enforcement work. The Department of Agriculture then began its presentation, describing strategic investments, loan programs, county funding, administrative costs, and a reported return of about $2.30 for every dollar spent, but the transcript cuts off before that presentation was completed.

Transcript Highlights:

• Bill 1589 relating to the stadium Development Special Fund.
• and Legacy fund where I develop and Legacy fund where I develop and Implement<00:43:35.079> strategies
• as well as the economic development revitalization fund.
• economic development revitalization fund.
• c><00:50:06.079> is economic development by the fund is is economic development by the fund is

Keywords: 912, senate, all

Summary: The joint hearing covered three measures on the 1 p.m. agenda. SB 817, relating to out-of-state offices, drew support from DBEDT and several community groups, with questions focused on the requested funding, staffing level, whether the office would expand broadly, and whether the Philippines was being singled out. SB 1578, relating to international affairs, received support from DBEDT and the Attorney General, with the chair noting the bill was intended to help DBEDT analyze Hawaii’s international partnerships and plan next steps. SB 1639, establishing Hawaii Beach Day, had limited testimony and was moved along without substantive debate. SB 582, relating to DBEDT, was also heard with support from state agencies and a few individuals, and was described as a vehicle for organizational and funding changes affecting the State Foundation on Culture and the Arts, including moving some positions and programming to general funds and narrowing the works-of-art special fund's uses. The committees then took up recommendations. All three measures were advanced with amendments: SB 817 was amended to include technical changes and a defective effective date of July 1, 2025; SB 1578 was amended to address the Attorney General’s concerns, make the commission subject to Senate confirmation, and add technical changes and a defective date; and SB 582 was amended to incorporate provisions from SB 1577, clarify SFCA authority over performing arts, shift SFCA positions and programming to general funds, restrict the works-of-art special fund, and add a defective date. Each committee voted to adopt the chair’s recommendations, with no reservations or no votes noted in the Transportation and Culture and the Arts committee and only Senator Dela Cruz voting no on SB 817 there; in the Economic Development and Tourism committee, SB 817 passed with Senator Kim in reservation and Senator Awa voting no, while SB 1578 and SB 582 passed with Senator Awa voting no. The later 10:00 a.m. agenda hearing focused on SB 1589, relating to the stadium development special fund, and SB 1629, relating to taxation. On SB 1589, the Attorney General asked for clarification of section 3, particularly the proviso about remaining monies lapsing to the general fund if the New Aloha Stadium Entertainment District is terminated before completion; the interim stadium manager explained the bill would allow spending of $49.5 million already in the special fund for consultant, construction management, quality assurance, and contingency costs. On SB 1629, testimony was sharply divided: supporters, including film industry and business representatives, said the measure would support local film production, restore prior GET treatment, and help attract studio development; opponents argued the bill was vague, overly favorable to a specific project, and lacked oversight and accountability. The hearing ended with extensive questioning about whether the bill was effectively tailored to a particular studio project and how it related to other film tax credit measures, but no final committee action on SB 1589 or SB 1629 was included in the transcript excerpt.

Transcript Highlights:

• This would allow the fund to be used for an approved industrial development site as defined for the West
• This bill creates the Airport Hangar Grant Program and the Airport Hangar Development Fund, which is
• It's a new special revenue sub-fund of the Economic Development Project Fund, which is overseen by the
• This bill creates the Airport Hanger Grant Program and the Airport Hanger Development Fund, which is
• It's a new special revenue sub-fund of the Economic Development Project Fund, which is overseen by the

Keywords: 994, senate, all

Transcript Highlights:

• We took this and we're successful in acquiring funding to hire a new program development and evaluation
• We did secure funding in 2022 to hire three statewide community economic development agents, so they
• And, and the TF fund should give you the money to, to develop that or to, to market that so you can go
• So starting on page 4, under the use of the Capital Development Program Fund.
• Uh, capital development fund that we talked about earlier, um, or better vetting, right?

Transcript Highlights:

• From securing much-needed funding and accelerating local approvals to opening new sites to development
• They found 35 different funding sources to get to 85% of the funding for their projects.
• for Cal Home, whether it's funding for student housing, funding for transition youth housing.
• Under the current structure, funding may be passed from the state government to developers just to have
• for pre-development activities.

Summary: The committee heard AB 736, a proposed $10 billion Affordable Housing Bond Act of 2026, with Assembly Member Buffy Wicks and numerous housing, local government, labor, and advocacy groups testifying in strong support. Supporters said the bond would fund multifamily housing, permanent supportive housing, homeownership, preservation, farmworker, tribal, and other programs, and argued that the state needs new capital because prior bond funds are exhausted and many shovel-ready projects are waiting. Habitat for Humanity California opposed the bill unless it was amended to dedicate 10% of bond proceeds to Cal Home for affordable homeownership, and several senators said they supported the bond but wanted Cal Home strengthened. The committee voted do pass to Senate Appropriations, with the measure placed on call for absent members. The committee also heard SB 1361 by Senator Durazo, which would limit local governments from using SB 79 transit-oriented housing requirements as a reason to stall or condition planned transit projects. Los Angeles Metro, the Building Trades, and several cities and advocacy groups supported the bill, saying it would protect transit investments, jobs, and federal funding from opposition tied to future density around transit stops. Several groups that had initially opposed or been concerned about the bill, including West Hollywood, Streets for All, Greenbelt Alliance, California YIMBY, and the Bay Area Council, withdrew opposition or moved to neutral after amendments. The committee approved the bill as amended to Senate Local Government, with the measure also placed on call. Senator Grayson presented SB 1003, creating an Infrastructure Partnership Financing Program to help local governments and developers fund infrastructure needed for infill housing, and SB 1014, which would require local agencies to provide early, good-faith estimates and itemized lists of required on-site and off-site improvements for housing projects. Both bills were supported by housing advocates, Habitat for Humanity, SPUR, and industry groups, who said the measures would reduce uncertainty, late fees, and project delays. The committee advanced both bills as amended to Senate Appropriations, placing them on call. The committee also took up SB 908, which streamlines energy-code-compliant window replacement and limits aesthetic review, especially for residential replacements; it passed as amended to Appropriations after support from affordable housing and green building groups and no opposition. Later, Senator Allen presented SB 1092 and SB 1093 on mobile home park preservation and post-disaster protections. SB 1092 would give residents notice and an opportunity to make a competing bid when a park owner intends to sell, with supporters arguing it would help preserve unsubsidized affordable housing and protect displaced residents, while park owner representatives argued it would devalue properties, create litigation risk, and interfere with market transactions. SB 1093 would require more communication, access, and consideration of rebuilding or closure after disasters, and would restore certain resident reimbursement rights; supporters cited the Palisades fire and survey data showing residents lacked information and access, while opponents said the bill imposed onerous timelines, liability issues, and penalties and could force owners into rebuilding or compensation assumptions they disputed. Both bills were discussed at length, but the transcript ends before final recorded votes on them.

Transcript Highlights:

• funds and closing funds.
• funds and closing funds.
• funds and closing funds.
• funds and closing funds.
• Economic development funds and closing funds. Those are two cash programs you provide to us.

Keywords: The first few minutes of this meeting was missed on the live stream. This upload restores those few minutes, 958, all

Summary: The subcommittee met with Secretary Jeff Null and General Counsel Matt Wing of the Cabinet for Economic Development for an overview of the cabinet’s main economic development tools, strategy, and compliance practices. Null said the cabinet uses a data-driven approach focused on competitiveness, site readiness, wages, workforce training, and long-term assets such as roads, rail spurs, water, and sewer improvements. He emphasized that the cabinet tries to balance attracting new employers with supporting existing businesses, and said compliance is a core value of the agency. Null walked members through several programs, including the closing fund, Kentucky Business Incentive (KBI), Bluegrass State Skills Corporation training support, and the KIA sales-tax refund tool for construction materials and equipment. He said the closing fund has received $80 million over two years for projects generally involving at least $10 million in investment, though some flexibility exists. He also explained that Bluegrass State Skills funding is typically about $2,000 to $3,000 per job and can be used flexibly for training, including sending Kentucky workers to be trained elsewhere or paying trainers to come to Kentucky. He described KBI as a pay-as-you-go, incremental tax credit tied to actual jobs and investment, and said the legislature’s tiered refundable credit structure allows more targeted use of incentives in heritage and non-heritage counties. A substantial portion of the presentation focused on compliance and monitoring. Null said incentive agreements are written with commercial terms and spell out jobs, investment, wages, and training commitments. The cabinet requires regular reporting, invoices, and sampling, and can use clawbacks or suspend benefits if companies fail to meet obligations or lose required environmental permits. He said the Kentucky Economic Development Finance Authority reviews incentive applications in public meetings and often requires company representatives to answer questions before preliminary approval is granted. No votes or formal actions were taken during the meeting.

Transcript Highlights:

• As a premier federally funded engineering lab, Sandia conducts innovative research and development to
• It's been funded by the Economic Development Administration, Tech Hub.
• Hub, Elevate Quantum, as well as state matching funds, and some education funds.
• This is a non-reverting fund intended to support the efforts of the office, provide matching funds for
• The funding for that investment was one-time funding; it was one-year funding, and I think it's really