Transcript Highlights:

• districts and one Board of Education tax levy to pay debt service, reported upcoming general obligation bond
• They reported an upcoming revenue bond to finance new projects in Henderson County and Jessamine County
• The project was originally authorized at $7 million in bond funds in the 2022-2024 budget.
• The bonds will not be KHC or Commonwealth debt.
• The bonds will not be KHC or Commonwealth debt.

Summary: The committee first handled informational reports on several bond and lease matters, including school district and board of education debt-service items, upcoming revenue bond issues in Henderson and Jessamine counties, and three advertised lease-space requests for state agencies. Members also reviewed prior lease transactions that had not been approved in November and December; the Finance and Administration Cabinet later canceled and rebid the Harlan County lease and moved ahead with the Perry County lease modification. Additional information items included a Kentucky Communications Network Authority quarterly capital projects report and Eastern Kentucky University asset preservation revisions. The committee then heard from Deputy State Budget Director Janice Thomas on four action items. She reported a $2.85 million USDA-funded renovation at Kentucky State University’s Betty White Building, a $294,000 increase for the Kentucky School for the Deaf’s Middleton Hall renovation, and a $6.1 million restricted-funds scope increase for the KCTCS Science Building Expansion in Elizabethtown. Members asked about how often the statutory 15% increase authority is used for school dormitory and cottage projects and about the competitiveness of construction bids; Thomas said bids are typically competitive but recent estimates have been difficult because of higher material and equipment costs. The committee approved the three action items unanimously and also received a no-action report on a $3.918 million Corrections project to repair and replace the KCIW kitchen drain line. Next, the Kentucky Infrastructure Authority presented seven loans and grants, all of which the committee approved unanimously. The package included sewer and water projects for Frankfort, Sturgis, Scottsville, Morganfield, Western Pulaski County Water District, and Springfield, plus an emergency $5.487 million Kentucky Waters grant for Eddyville after a catastrophic sewer plant failure and weather-related emergency declarations. The projects covered wastewater interceptor and treatment upgrades, sewer collection rehabilitation, water transmission main installation, and planning/design work, with loan terms ranging from five to 30 years and interest rates from 0.5% to 2.25%. Finally, the committee considered a $38.4 million Kentucky Housing Corporation conduit issuance for a 322-unit multifamily rental project in Jefferson County. A member asked how the committee participates in the transaction, and staff explained that it is a conduit issuance and not state debt. The committee then moved to approve the issuance.

Transcript Highlights:

• So if they have to raise more than the bond issue allows it.
• So we should manage the cash with some bonding if we could.
• The drinking water program has revenue bonds making up about 79% of that portfolio, and improvement bonds
• And the Clean Water Program has about 70% revenue bonds and 30% improvement bonds.
• I'm not necessarily saying we should have bonded it.

Committee: Joint Water Topics Overview Committee

Summary: The Water Topics Overview Committee met to review several interim studies and receive updates from the Department of Water Resources. The committee approved the March 26, 2026 minutes, observed a moment of silence for the late Representative Conmy, and welcomed Representative Hansen to the committee. Staff then reported that the watershed management study and the stormwater/wastewater study had both satisfied the presentation requirements in their study directives, with no further required testimony unless members wanted additional information. The department’s main presentation focused on major water projects and agency operations. Reese Haas and staff updated members on the NAWS project, the Southwest Pipeline Project, Devils Lake outlet operations, low-head dam safety work, floodplain management repository implementation, data center water use, and the 2027 Water Development Plan. Members asked detailed questions about NAWS funding sources, remaining project costs, capacity concerns for All Seasons and other users, and whether current construction is being designed for future demand. The department said NAWS remains on track for substantial completion by October, that remaining NAWS funding will come from a mix of federal, state, and local sources, and that current construction is designed for ultimate capacity while some future components will be adjusted for increased demand. A large portion of the meeting was devoted to the department’s cash management, Resources Trust Fund revenues, carryover balances, and the State Water Commission’s cost-share program. The department reported $340.6 million in carryover remaining, explained that much of it is already obligated to long-term projects, and noted that oil price forecasts and stripper-well exemptions will affect future revenues. Members raised concerns about large carryovers, affordability for local sponsors, and whether the state should continue obligating money multiple bienniums ahead. The department said it is working with the commission on a revised prioritization framework, including high/moderate/low project categories and a two-tier pre-construction/construction approach, to better manage obligations and affordability. The committee also reviewed Deloitte’s finalized studies on regional governance/finance and cost-share policy. Deloitte presented options for Southwest, NAWS, and Red River governance, with stakeholders generally favoring keeping NAWS largely as is, using the current Southwest model with improvements, and pursuing a more structured governance option for Red River. On cost share, the department said Deloitte’s recommended package would cover projected needs through the 2030s, but would require policy changes such as lower percentages for some project types, a 25% replacement-project rate with a cap, and possible bonding or delayed reimbursement strategies. No votes were taken on these policy questions, and the chair indicated the committee would continue the discussion at future basin meetings and the September Water Topics meeting.

Transcript Highlights:

• The bond directs the bulk of the funding to proven programs in California.
• Funds from the last statewide housing bond ran out last year.
• that we've received in previous housing bond issues.
• And California's debt capacity doesn't allow us to do a $100 billion bond.
• And California's debt capacity doesn't allow us to do $100 billion bond.

Committee: House Housing and Community Development

Transcript Highlights:

• The bonds and the bond interest are paid out of the budget, correct? Well, INS, yes. Mm-hmm.
• It's interesting you say voter-approved bonds.
• Charter schools are included because bonds are included.
• Okay. ...Same thing with revenue bonds.
• That's not from bonds; that's out of the general funds.

Bills: HB26 , HB73 , SB 14 , HB46

Committee: House Intergovernmental Affairs

Transcript Highlights:

• Members, Senate Bill 600 makes changes to Florida's bail bond and pretrial release laws and policies
• written authorization from the bail agent, bail bond agency, or the surety.
• But at the same time, that's why bond agencies exist and why, you know, I understand...
• But at the same time, that's why bond agencies exist and why, you know, I understand.
• I just wanted to say the clerks are appreciative of the bond association and our opportunity to have

Committee: Senate Criminal Justice

Transcript Highlights:

• say like in the like early 2010s but those and those were those are tacked on to the last housing bond
• before that bond we passed in 2018 that was funding all those major core programs was in 2006 so those
• We need a system where all financing, including tax credits and bonds, are packaged together and the
• tax-exempt bond program, thereby unlocking additional federal 4% tax credits.
• We do not have a bond that actually is moving forward right now.

Transcript Highlights:

• You know, costs for bonded capital projects are excluded.
• You know, costs for bonded capital projects are excluded.
• </c> bonded capital projects are excluded. bonded capital projects are excluded.
• It'll it'll still bonded capital costs.
• capital cost shall include principal or interest on bonds or notes only if the bonded indebtedness is

Committee: Senate Election Law and Municipal Affairs

Transcript Highlights:

• And so, we're not talking about surety bonds, right? These are professional bonds. Is that correct?
• And can the author explain the difference between surety bonds and professional bonds?
• Curious, do all 77 counties have the same process when it comes to setting bond?
• As far as setting bond, yes, but they may have different people doing it.
• statutory bond, then he will go before a judge on that appeal.

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

Transcript Highlights:

• The first priority for both revenue types is its stadium bond obligation.
• As of June 30, 2025, the authority's outstanding principal on its single remaining stadium bond was $135
• in a given month and use monies from its operating account to pay the remaining bond obligation amount
• continuing to accumulate cash reserves instead of using monies in its operating account to pay for bond
• in a given month and use monies from its operating account to pay the remaining bond obligation amount

Committee: House Commerce

Transcript Highlights:

• Sorry, the FI is fixed income bonds, like bonds.
• As we just heard from our investment council, they even use bonds, fixed income bonds, as a store of
• You look at bonds around the world, $318 trillion is stored in bonds.
• You'll get the S&P 500. 14.6%, silver 14.5%, gold 12.7%, and bonds.
• IEF is basically a 7 to 10 year trend Treasury bond fund.

Committee: House Investments & Pensions Oversight Committee

Transcript Highlights:

• In 1998, a billion-dollar bonding bill was passed.
• And that was probably very unheard of in 1998 to have that kind of a bonding bill passed.
• Today, that bonding bill would be worth $2 billion. Over two billion dollars.
• So, we are going to be happy we pass a bonding bill today, but it's a down payment.
• </c><00:13:39.839><c> bill</c> to be happy we pass a bonding bill to be happy we pass a bonding bill

Transcript Highlights:

• Secondly, Sections 1301 to 1302 concern Sound Transit 75-year bonds. This should look familiar.
• Sound Transit would still be authorized to issue bonds with terms up to 75 years.
• Going back to Sound Transit, a 75-year bond, at the very end in this explanation, it says, if a bond
• And that provision was in 6148, and it would say that any time Sound Transit were to issue a bond with
• So they could continue to get those grants, but the minute they started issuing debt or bonds over 40

Summary: The Transportation Committee met in executive session on Gross Substitute House Bill 2711, a transportation resources measure, after a staff walkthrough of the Senate striking amendment S-5820.4. Staff explained that the striker largely replaced the bill with provisions from Senate Bill 6352 and related transportation revenue and policy changes, including updates to mobile driver’s licenses, account interest provisions, recreational vessel and luxury vehicle tax clarifications, peer-to-peer tax administration changes, fuel tax timing changes, aircraft fuel tax and account changes, bicycle education grants, ferry payment-card fee authority, traffic safety camera revenue and rebuttable presumption rules, online driver education regulation, transit annexation tax/liability clarification, Sound Transit 75-year bond authority limits, stolen copper protections for light rail and DOT communications infrastructure, and a highway contracting threshold change. Staff also reviewed fiscal impacts, including revenue gains from trade-in value clarifications and aircraft fuel changes, and losses from the diesel tax delay, motorhome exemption, and repeal of the luxury aircraft tax. Members asked several clarifying questions, including the luxury RV tax threshold, how trade-in value is treated under the luxury vehicle tax, whether ferry debit-card fees are authorized, and the legality of passing card-processing fees to customers. Staff and counsel said the luxury vehicle tax applies to value over $100,000, trade-in value is added back for the luxury tax calculation, and the ferry provision is intended to clarify that both credit and debit card surcharges may be passed through. On the traffic safety camera section, staff described a revised approach that would require stronger proof from registered owners to rebut presumed responsibility, and on Sound Transit bonds, staff clarified that bonds over 40 years would be limited to federal transportation loan purposes and would affect eligibility for certain state grants. After caucus, the committee returned to executive session, waived the amendment posting deadline under Senate Rule 45, adopted the striking amendment, and then voted to advance ESHB 2711 as amended with a do pass recommendation to the Rules Committee. The motion carried, and the chair thanked staff before adjourning the meeting.

Transcript Highlights:

• I'm not going to address bond, so we're going to bound it to the grand jury.
• The 72-hour hearing, more like a bond hearing, and it's not an evidentiary hearing.
• The only difference is, in order to establish the bond hearing, you got to find probable cause.
• So if a crime is shown to have occurred with the probable cause hearing, then now we can address bond
• . whether or not we're going to grant no bond you as well.

Bills: HB537 , HB474 , HB527 , HB449 , HB380 , HB449 , HB380

Committee: Senate Judiciary

Keywords: preliminary hearing, criminal procedure, Aniah's Law, pretrial detention, defendant rights, property rights, law enforcement, removal procedures, unauthorized occupancy, trespassing, liability, off-roading, parks, participant safety, risk management, DNA, genetic testing, privacy, consent, criminal penalties

Transcript Highlights:

• So this is SB 190, the Heal Regional Cancer Center bonds.
• This bill allows NMFA to sell bonds that are backed by the existing tobacco tax.
• Bonding is an excellent finance mechanism to get these projects done.
• We just had the big bonding bill come in.
• It's an investment interest, just the same as stocks and bonds are.

Bills: SB190 , SB152 , SB77 , SB150 , SB151 , SB156 , SB172 , SB182 , SB185 , SB212 , SB170 , SB133 , SB174 , SB163

Committee: Senate Senate Tax, Business & Transportation

Transcript Highlights:

• Okay, now whether it's a bond issue... that Senator Mays is talking about right on bonded debt whether
• is the real problem because once the you're going to pay those bonds come, you know, 30 years or 35,
• So, and we're trying to limit that by saying you can't bond for longer and 15 years or 20 years, but
• I guess we should anticipate legislation dealing with some more guardrails on bonding. and also find
• Alvarado, Betancourt, Bardwell, Bond, Booker. 30 ayes, no nays. The rule is suspended.

Bills: SJR2 , SB4 , SJR36 , SJR2 , SB4 , SJR1 , SJR5 , SB9 , SB40 , SJR2 , SB4 , SR98 , SJR40 , SJR41 , SJR42 , SJR43 , SJR44 , SJR45 , SJR46 , SJR47 , SCR13 , SB6 , SB13 , SB21 , SB826 , SB827 , SB828 , SB829 , SB830 , SB831 , SB832 , SB833 , SB834 , SB835 , SB836 , SB837 , SB838 , SB839 , SB840 , SB841 , SB842 , SB843 , SB844 , SB845 , SB846 , SB847 , SB848 , SB849 , SB850 , SB851 , SB853 , SB854 , SB855 , SB856 , SB857 , SB858 , SB859 , SB860 , SB861 , SB862 , SB863 , SB864 , SB865 , SB866 , SB867 , SB868 , SB869 , SB870 , SB871 , SB872 , SB873 , SB874 , SB875 , SB876 , SB877 , SB878 , SB879 , SB880 , SB881 , SB882 , SB883 , SB884 , SB885 , SB886 , SB887 , SB888 , SB889 , SB890 , SB891 , SB892 , SB893 , SB894 , SB895 , SB896 , SB897 , SB898 , SB899 , SB900 , SB901 , SB902 , SB903 , SB904 , SB905 , SB906 , SB907 , SB908 , SB909 , SB910 , SB911 , SB912 , SB913 , SB914 , SB915 , SB916 , SB917 , SB918 , SB919 , SB920 , SB921 , SB922 , SB923 , SB924 , SB925 , SB926 , SB927 , SB928 , SB929 , SB930 , SB931 , SB932 , SB933 , SB934 , SB935 , SB936 , SB937 , SB938 , SB939 , SB940 , SB941 , SB942 , SB943 , SB944 , SB945 , SB946 , SB947 , SB948 , SB949 , SB950 , SB951 , SB952 , SB953 , SB954 , SB955 , SB956 , SB957 , SB958 , SB959 , SB960 , SB961 , SB962 , SB963 , SB964 , SB965 , SB966 , SB967 , SB968 , SB969 , SB970 , SB971 , SB972 , SB973 , SB974 , SB975 , SB976 , SB977 , SB978 , SB979 , SB980 , SB981 , SB982 , SB983 , SB984 , SB985 , SB986 , SB987 , SB988 , SB989 , SB990 , SB991 , SB992 , SB993 , SB994 , SB995 , SB996 , SB997 , SB998 , SB999 , SB1000 , SJR40 , SJR41 , SJR42 , SJR43 , SJR44 , SJR45 , SJR46 , SJR47 , SCR13 , SB6 , SB13 , SB21 , SB826 , SB827 , SB828 , SB829 , SB830 , SB831 , SB832 , SB833 , SB834 , SB835 , SB836 , SB837 , SB838 , SB839 , SB840 , SB841 , SB842 , SB843 , SB844 , SB845 , SB846 , SB847 , SB848 , SB849 , SB850 , SB851 , SB853 , SB854 , SB855 , SB856 , SB857 , SB858 , SB859 , SB860 , SB861 , SB862 , SB863 , SB864 , SB865 , SB866 , SB867 , SB868 , SB869 , SB870 , SB871 , SB872 , SB873 , SB874 , SB875 , SB876 , SB877 , SB878 , SB879 , SB880 , SB881 , SB882 , SB883 , SB884 , SB885 , SB886 , SB887 , SB888 , SB889 , SB890 , SB891 , SB892 , SB893 , SB894 , SB895 , SB896 , SB897 , SB898 , SB899 , SB900 , SB901 , SB902 , SB903 , SB904 , SB905 , SB906 , SB907 , SB908 , SB909 , SB910 , SB911 , SB912 , SB913 , SB914 , SB915 , SB916 , SB917 , SB918 , SB919 , SB920 , SB921 , SB922 , SB923 , SB924 , SB925 , SB926 , SB927 , SB928 , SB929 , SB930 , SB931 , SB932 , SB933 , SB934 , SB935 , SB936 , SB937 , SB938 , SB939 , SB940 , SB941 , SB942 , SB943 , SB944 , SB945 , SB946 , SB947 , SB948 , SB949 , SB950 , SB951 , SB952 , SB953 , SB954 , SB955 , SB956 , SB957 , SB958 , SB959 , SB960 , SB961 , SB962 , SB963 , SB964 , SB965 , SB966 , SB967 , SB968 , SB969 , SB970 , SB971 , SB972 , SB973 , SB974 , SB975 , SB976 , SB977 , SB978 , SB979 , SB980 , SB981 , SB982 , SB983 , SB984 , SB985 , SB986 , SB987 , SB988 , SB989 , SB990 , SB991 , SB992 , SB993 , SB994 , SB995 , SB996 , SB997 , SB998 , SB999 , SB1000

Transcript Highlights:

• </c> this is a risky investment using bonding this is a risky investment using bonding dollars.<00:40
• </c><00:41:20.079><c> only</c><00:41:20.240><c> way</c> bonding because bonding is the only way bonding
• </c> In summary, the governor's 2026 bonding In summary, the governor's 2026 bonding proposal<01:10:13.199
• So, for example, we're here asking for bonding dollars for our capital assets.
• </c><01:29:47.520><c> money</c> is not going to match bonding money is not going to match bonding money

Committee: House Capital Investment

Transcript Highlights:

• </c><00:09:10.800><c> authority</c> sufficient bonding authority sufficient bonding authority um<00:09
• :22.320><c> authority</c> know perhaps that bonding authority know perhaps that bonding authority could
• </c> expenditure, but we'd have bonding expenditure, but we'd have bonding authority<00:09:38.080><c>
• When I bonded<01:56:34.880><c> land</c><01:56:35.360><c> in</c><01:56:35.679><c> Rochester,</c> bonded
• </c><01:56:59.520><c> and</c> purchase the land through bonds and purchase the land through bonds and

Committee: Senate Finance

Transcript Highlights:

• The funding and bonding capacity, I'd like to read this.
• These were going to be the ones we sell bonds for.
• have sold some of the bonding packages and some of those bond proceeds for.
• and use that new revenue to pay back bonds.
• or sponge bond capacity at all.

Transcript Highlights:

• </c> of discussion about the state's bond of discussion about the state's bond rating. rating. rating
• </c><00:21:34.800><c> rating</c><00:21:35.080><c> in</c> the impacts of the state bond rating in the
• impacts of the state bond rating in having<00:21:35.800><c> a</c><00:21:35.840><c> structural</c><00:
• </c> what is the impact of the state's bond what is the impact of the state's bond rating<00:21:41.240
• Mingay about whether or not we typically talk about fraud in determining bond ratings.

Transcript Highlights:

• The planned projects will be eligible to receive seed money from state revenue bonds coordinated with
• The partnerships will enter into repayment plans so the bond funds are then repaid over time.
• Yeah, we are, we are, so some, well, the revenue bond would be state funded. State funded.
• I asked the question because revenue bonds, by definition, are not paid by the general fund, but we've
• had some perversion in the exercise of revenue bonds over the last couple of decades where they've been

Committee: Senate Business, Professions and Economic Development