Transcript Highlights:

• So, that was just based capital budgets.
• cost-effective manner preserving capital cost-effective manner preserving capital capacity<00:18
• expenditures,<01:04:31.920> it's It's not for capital expenditures, it's It's not for capital
• It seems that that might free up some capital or generate some capital, some working capital.
• Is it for capital What's its usage? Is it for capital expenditures?

Keywords: 0:00:01 Call to Order and Roll Call 0:00:28 Approval of Minutes 0:00:40 Information Items 0:01:13 Rpt from Postsecondary Institutions 0:26:46 Project Rpt from Finance and Admin Cabinet 0:30:53 Lease Rpt from Finance and Admin Cabinet 0:39:20 Rpt from OFM – KIA 0:52:42 Econ Development – EDF Grants 0:55:15 OFM Debt Issues 0:58:43 Informational Discussion 1:44:36 Adjournment, 958, all

Summary: The committee first handled routine business, including a quorum call, approval of minutes, and informational items on school district financing and KCTCS equipment purchases. It then considered two KCTCS capital projects after initially rolling them together and later unrolling them: a Fire Commission Fire Academy maintenance building project that had grown from an original $2 million authorization to $4.7 million because of design changes, soil issues, and higher mechanical costs, and a $1.5 million renovation of the Blake Lee building at Somerset Community College for a health science simulation lab. Members questioned the large cost increase on the fire academy project and the adequacy of front-end due diligence, while KCTCS said the project was bid and ready to proceed and that a 15% contingency had been included. Both projects were approved by roll call vote, with the Blake Lee project ultimately approved after the committee unrolled the items and took them separately. The committee next heard and approved a University of Kentucky public-private partnership for the Hamburg East Medical Office Building, a five-story, 220,000-square-foot facility with a not-to-exceed budget of $275 million. UK said the project is intended to expand outpatient access, consolidate some services, and support projected growth in patient volume; the building will house multiple specialties, urgent care, therapy, imaging, and a retail pharmacy. Members asked about possible community uses, consolidation of services, and whether the project would free up other space, and UK said it hopes to consolidate some services and free campus space. The project was approved by roll call vote. The committee then approved three UK lease renegotiations: a specialty pharmacy and infusion services lease at Wellington Way in Lexington, a Department of Ophthalmology and Visual Sciences lease at Conte Terrace, and a College of Social Work lease at McGrath Park Way. Members asked about rising lease rates, occupancy, and whether space needs should be reduced; UK and the lessor’s representative said the pharmacy space remains busy, the ophthalmology lease was lower than before, and the social work lease had been negotiated down from a higher request. The committee also approved a Department of Military Affairs project amendment for a Mutual Field Maintenance Shop Restoration project, increasing federal funding by $1 million to $4.5 million because of higher construction costs, and approved a Kentucky State University Shanty Hall renovation project funded by bond and HBCU Title III funds. Finally, it approved a new lease for the Office of Mines and Minerals in Pike County, a new lease for the Cabinet for Health and Family Services in Pulaski County, and a lease renewal for the Cabinet for Health and Family Services in Kenton County after questions about rent increases and office utilization; the cabinet said the Kenton County space still has limited vacancy and remains in use by field staff. The meeting ended as the Kentucky Infrastructure Authority began presenting six sewer and water loans and six cleaner water program grant reallocations, with members agreeing to roll those items for later consideration.

Transcript Highlights:

• Each facility represents significant capital investment and thousands of construction jobs.
• Each facility represents significant capital investment and thousands of construction jobs.
• 33:17.760> in significant capital investment in significant capital investment in thousands<00
• is uniquely positioned to uh capitalize is uniquely positioned to uh capitalize on<00:46:06.960>
• ,<01:19:48.960> advocating profession at the capital, advocating profession at the capital

Bills: HF1669, HF4709, HF3531, HF4048

Keywords: tax credits, sustainable aviation fuel, environmental policy, corporate franchise, Minnesota taxation, electricity generation, property tax exemption, renewable energy, incentives, economic development, fuel delivery, tax exemption, retail transactions, diesel exhaust fluid, fuel lubricants, healthcare tax, gross receipts tax, hospitals, chiropractors, healthcare providers

Transcript Highlights:

• The state funds 100% of upfront capital, and the system repays the state for the perpetual capital repayment
• Option two: keep the current governance structure and leverage the capital repayment stream.
• This is accomplished through pledging all or a portion of the capital repayment stream to support 30-
• The key differences here are who owns, who decides, who bears risk, and how capital is financed.
• Those identified $435 million in future capital improvement needs just in those 11 cities.

Keywords: 908, all

Transcript Highlights:

• One, and Capital One just acquired Discover.
• Maybe Capital One has done things in the past to alleviate the pressures on small business.
• One thing that Capital One does in particular, which is unique to our business model, is that we have
• What that would look like, you know, presumably with Capital One...
• That would look like, you know, presumably with Capital One's top-tier kind of travel kind of Venture

Keywords: 995, all

Summary: The Special Commission on the future of payments and sales transactions by credit card heard extensive testimony from credit union, banking, retail, restaurant, and payments-industry representatives about proposals to limit interchange fees, especially on the tax and tip portions of transactions. Several witnesses opposed state-level restrictions, arguing they would create a patchwork of rules, burden state-chartered institutions, raise compliance complexity, and ultimately reduce resources for fraud prevention, cybersecurity, rewards, and access to credit. Others, including retail and merchant advocates, said swipe fees are a significant and growing cost for small businesses and that states should consider reforms such as limiting fees on taxes and tips, allowing surcharging, improving transparency in merchant contracts, and studying collection costs more closely. Witnesses also discussed recent legal and regulatory developments, including Illinois’s interchange-fee law, OCC and NCUA interim rules, and the ongoing Visa/Mastercard antitrust settlement. Industry representatives said the Illinois law has been delayed and is likely preempted for most transactions, while merchant advocates argued the state efforts and court rulings show that networks and banks do not set fees competitively. The proposed antitrust settlement was described by some as a meaningful but limited merchant victory, with temporary fee reductions and expanded surcharge/steering rights, while others said it still falls short of structural reform. The commission members pressed witnesses on the practical effects of fees, the cost of cash, whether merchants can pass costs through, and whether small businesses are actually seeing benefits from the current system. Members repeatedly emphasized the need for a fair middle ground that protects both small businesses and the payment system. No substantive votes or policy actions were taken beyond accepting testimony, and the meeting ended with adjournment after all scheduled witnesses had spoken.

Transcript Highlights:

• We'll revert now to our discussion and public testimony on capital outlay.
• I thought it was important for our committee just to get an update on the capital outlay bill.
• We'll revert now to our discussion and public testimony on capital outlay.
• I thought it was important for our committee just to get an update on the capital outlay bill.
• Okay, let's go back to our capital outlay presentation.

Summary: The Senate Committee on Revenue and Fiscal Affairs met on May 11, 2026, approved the April 27 minutes, and then took up several House bills. HB 618, by Rep. McMakin, would update Louisiana Economic Development fees and filing charges by indexing them to inflation and allowing some discretion to waive or reduce fees for small businesses; it was reported favorable. HB 732, by Rep. Owen, drew extensive discussion because it combined two issues: temporary OMV relief for a hospice-related ID problem and a suspension of the new hybrid vehicle road usage fee. Members and the OMV commissioner raised constitutional and drafting concerns about waiving or eliminating obligations, and the committee discussed how newer vehicle classifications blur the line between electric, hybrid, and gas-powered vehicles. The committee ultimately reported HB 732 favorable, with the understanding that amendments and further work would be needed before floor action. The committee also reported favorable on HB 217 and HB 214 by Rep. Henry, which would authorize local governments to grant property tax exemptions for the rehabilitation of blighted property and place the related constitutional amendment before voters. Testimony emphasized that the measure is permissive for local governments, applies only after a property is formally blighted and rehabilitated, and is intended to encourage redevelopment while preserving some tax revenue. Members discussed the exemption level, duration, and the need for clearer definitions of blight, but no objections were raised. HB 593, also by Rep. Henry, would raise the maximum service fee for OMV public tag agent offices statewide; the commissioner explained that many offices are locally operated and that the increase would help cover costs, and the bill was reported favorable. Later, HB 514 and HB 961, by Rep. Foreman, were reported favorable. HB 514 would allow local governments, by referendum, to provide additional property tax relief for seniors who meet income and freeze requirements, with phased age-based eligibility steps; HB 961 would extend a similar concept to certain homesteads held in trust. Members discussed the optional local nature of the program and the need to avoid overly broad rules. HB 908, by Rep. Mina, would increase certain Secretary of State business services fees to support operations and system upgrades; agency officials said the fees had not been comprehensively adjusted since 2013 and remained below regional averages, and the bill was reported favorable. The committee then heard an informational update on the capital outlay bill from the Division of Administration, including the use of bundled projects for universities and DOTD, the status of P1/P2/P5 funding, and available cash capacity. Finally, HB 1010, by Rep. Deshotel, was reported favorable after brief discussion; it would require assessors to report property tax collections to the Louisiana Tax Commission for centralized public reporting.

Transcript Highlights:

• This illustrates the fund's intended role, not to replace private capital, but to catalyze projects that
• When founders, investors, lenders, and other private participants are willing to put real capital at
• risk, that helps validate the strength of the... participants are willing to put real capital at risk
• That helps ensure meaningful private capital remains at risk, and the state is acting as a catalyst,
• Packet Digital is well positioned to capitalize on that demand.

Keywords: 908, all

Summary: The Budget Section’s Commerce and Legal Services Division met to review the Department of Commerce base budget for the 2027-29 biennium and to receive an update on Commerce programs. Legislative Council staff first walked the committee through the “blue sheet” base budget summary, explaining the major line items, the large share of federal grant authority in Commerce’s budget, and the continuing appropriations that support several Commerce funds. Members asked how grant funding is coordinated across agencies, and staff said collaboration varies by program but is strong in areas like UAS and LIHEAP. Commerce Commissioner Chris Schilken then presented on current activities, focusing heavily on grant administration, transparency, and economic development programs. Members questioned how grant applicants are selected, whether Commerce tracks applications and return on investment, and how long grant awards take to reach recipients. The commissioner said Commerce uses scoring criteria, outside reviewers, a minimum 30-day application window, and typically completes awards within two to three months. A lengthy exchange followed over whether Commerce should open some grants only to intended recipients versus running competitive application processes; Commerce said it follows best-practice grantmaking and that its attorney in the Attorney General’s office approved that approach. Commerce also highlighted the North Dakota Development Fund, citing long-term investment and job creation results, examples such as Red Trail Energy, Packet Digital, Valiance, Corvent Medical, child care loans, and the Automate ND program. Members asked about acceptable failures, lessons learned, regional economic development coordination, and the expansion of the fund into non-primary sectors. Workforce Director Katie Ralston Howell then outlined a statewide workforce ecosystem review, a new governor’s workforce sub-cabinet, and three task forces focused on simplifying entry, warm handoffs, and data integration. She discussed the in-demand occupations list, Workforce Pell, apprenticeships, and efforts to better connect students with employers and higher education. Commerce also briefly reviewed housing programs and a new housing sub-cabinet. No votes were taken; the committee simply received testimony, asked questions, and adjourned after setting up the next meeting to hear the Attorney General budget in June.

Transcript Highlights:

• maintenance capital reserves, education capital reserves, but when it went to 5%, many districts said
• maintenance capital reserves, education capital reserves, but when it went to 5%, many districts said
• maintenance capital reserves, education capital reserves, but when it went to 5%, many districts said
• <04:01:18.880> reserve aside $500,000 for a capital reserve aside $500,000 for a capital reserve
• balance, place it into a capital balance, place it into a capital reserve?

Keywords: 1189, house, all

Transcript Highlights:

• <00:08:14.120> This<00:08:14.320> Capital,<00:08:15.440> I've<00:08:15.640><
• This Capital, I've toured very special.
• This Capital, I've toured many<00:08:16.120> of<00:08:16.160> the<00:08:16.240> capitals
• around the country many of the capitals around the country and<00:08:17.680> ours<00:08:18.080
• Investment and I was chair of Capital Investment and I don't<00:08:52.160> know<00:08:52.240>

Keywords: 919, house, all

Summary: Representative Torkelson gave a long farewell-style floor speech reflecting on his legislative career, thanking colleagues, staff, family, and voters, and sharing anecdotes from his early campaigns and years in office. He emphasized the importance of listening to constituents, working across party lines, and not holding grudges after disagreements. He also praised the Minnesota Capitol, Cass Gilbert’s design, and the renovation work, and noted his service on committees including Transportation, Capital Investment, Ways and Means, and redistricting. A major theme of the speech was bipartisanship and institutional respect. Torkelson described working with members from both parties, including House leaders and committee counterparts, and said the House’s tied balance had forced more work to the committee level and produced bipartisan outcomes. He warned against using redistricting as a political weapon and urged Minnesota not to follow that path. He also thanked specific staff members and mentioned his family, including his daughter, who works as a lobbyist. The speech did not involve a bill debate or recorded vote. It concluded with a call for legislators to keep learning from one another and to find practical paths forward while staying true to their values, ending with a quotation from Ecclesiastes and applause.

Transcript Highlights:

• These are dollars that help pay for soft capital, hard capital.
• They're flexible dollars, but they're needed to address school capital. We've included that.
• I mean, we hear all day long at this capital about the desperate need that parents have for child care
• Staff, Representative Livingston and members, House Bill 4141 is the FY 2027 capital outlay bill that
• So a lot of these capital projects have a long time horizon, even to get to the point to draw down that

Keywords: 1182, all

Transcript Highlights:

• But if you look at the historic and Actually, we had some bumps because of APA funding in our capital
• And then the carryover for FY25 is $1.5 million, which is legacy capital funds.
• Because we're spending our upper money first, we haven't made a draw on our legacy capital yet.
• And being able to submit that through the long-range capital planning commission and work that through
• So, just your continued support and funding of the long-range capital planning commission.

Keywords: 914, all

Transcript Highlights:

• Good morning, Chair Ghea, members of the Public School Capital Outlay Committee, staff, and the PSFA.
• take In today's meeting, you would be hearing about the new applications submitted for this round of capital
• We have two other middle schools that are not within ranking position to apply for Capital Outlay.
• We have a new deputy director of capital operations, Mr. Sean Murray.
• So the assigned team has shown the CFO, financial coordinator, capital specialist, and three others,

Transcript Highlights:

• Good afternoon, Sam Oud, with Capital Advocacy, on behalf of Bosch, in strong support today.
• Diaz with Capital Advocacy on behalf of Housing California. S.R.
• Diaz with Capital Advocacy on behalf of Housing California, in support. Thank you.
• These projects are very, very capital intensive. They’re hard to build.
• Chair, members, S.R.V.S.R.V.A. with Capital Advocacy here on behalf of Nextera Energy in support.

Summary: The Assembly Committee on Revenue and Taxation heard several bills focused on transit funding, veterans’ tax relief, clean energy incentives, housing development costs, and tax conformity. SB 63 would authorize a Bay Area regional sales tax measure for transit agencies facing fiscal shortfalls; supporters said it was needed to avoid major service cuts, while the California Taxpayers Association opposed it on Proposition 13/218 concerns. SB 56 would exclude veterans’ disability compensation from income calculations for the disabled veterans’ property tax exemption, and SB 296 would expand property tax relief for 100% disabled veterans and certain surviving spouses; both drew broad veterans’ support. SB 86 would extend and expand the California Alternative Energy and Advanced Transportation Financing Authority sales and use tax exemption program, including fusion energy, and SB 302 would conform state tax law to federal clean energy credit monetization provisions; both were backed by industry, labor, and clean energy advocates. SB 328 would cap Department of Toxic Substances Control fees on contaminated-soil remediation for infill and master-planned housing projects, with housing groups arguing the current fee structure can make projects infeasible. SB 711 would update California’s tax conformity date to January 1, 2025 to reduce complexity and inconsistencies with federal law, and was supported by tax professionals and business groups. Several bills were held or sent to suspense, while others advanced with amendments. After quorum was established, SB 63 passed the committee 4-2 and SB 86, SB 302, SB 328, and SB 711 were referred to suspense, with SB 86 and SB 302 later approved out of suspense with amendments. SB 56 was held in committee, SB 296 was made a two-year bill, and SB 284 and SB 723 were held. The committee also approved a number of additional suspense-file bills, including SB 293, SB 359, SB 419, SB 587, SB 603, SB 663, SB 710, and SB 785, while SB 591 was approved with amendments and SB 353 was made a two-year bill. The hearing concluded with the committee adjournment after final roll calls and bill actions.

Transcript Highlights:

• from the public school fund is levied on the ad valorem tax that goes into the fund to be used for capital
• You've implemented lots of one-time projects and capital improvements.
• Capital outlay, classroom instructional, insurance facilities, transportation, and defer maintenance.
• This includes system funding for ongoing capital projects and deferred maintenance, along with funding
• for Tuskegee University and other universities for maintenance and capital projects. ...maintenance.

Keywords: 924, joint, all

Transcript Highlights:

• Senator Aino again would like to invite our members to the fourth floor from 1 p.m. to 3 p.m. for the Capital
• fourth floor from 1 p.m. to 3 p.m.<00:18:45.039> for<00:18:45.200> the<00:18:45.440> capital
• <00:18:45.840> C<00:18:45.919> capital<00:18:46.320> connect p.m. for the capital
• C capital connect p.m. for the capital C capital connect event.<00:18:47.760> Thank<00:18:47.919

Keywords: 912, senate, all

Transcript Highlights:

• Capital and the right support matter.
• The SBA's flagship 7(a) loan program provides small businesses with working capital that can be used
• SBA loans provide long-term low-interest capital to homeowners, renters, entrepreneurs, and nonprofits
• It creates greater access to capital. It provides more... to capital.
• And for the first time since 2006, we are unlocking new capital that financial institutions can invest

Keywords: U.S. House of Representatives Floor Proceedings on Tuesday, June 23, 2026, 1012, house, all

Transcript Highlights:

• This year, the money is coming from capital outlay projects.
• This year, the money is coming from capital outlay projects.
• SB9 is also a six-year cycle, and this is mostly used to maintain our capital.
• And So, last cash flow drives capital delivery.
• As we've talked about before, the assessed So, last cash flow drives capital delivery.

Transcript Highlights:

• Is it proper to not capitalize those in a sentence? I just..."
• I would have capitalized it because I probably overcapitalize most things.
• <01:06:58.000> I writing I would capitalize it. I writing I would capitalize it.
• . capitalized. capitalized.
• those things ought to be capitalized. those things ought to be capitalized.

Keywords: 1191, senate, all

Transcript Highlights:

• Senator Martin, last week when we started hearing this bill, there was some discussion about capital
• This bill establishes the capital offense outside of the current statutory framework of commercial sex
• This bill establishes the capital offense outside of the current statutory framework of commercial sex
• And finally, this bill incorporates language from the capital sexual battery provision to specify that
• If somebody is arrested, oftentimes they get out on bond, unless they're accused of a capital offense

Summary: The Senate convened with prayer, the Pledge of Allegiance, and several recognitions, including remarks from Senator Berman outlining Democratic priorities such as education, health care, environmental protection, and opposition to rollbacks on child labor, book access, and gun safety. The chamber also recognized military guests and an intern before moving to the special order calendar. Several bills were temporarily postponed, including measures on human trafficking, waste management, Bright Futures, Medicaid oversight at one point in the flow, and mammogram coverage, though the Medicaid oversight bill was later taken up and passed. The Senate passed a series of bills, often after substituting House companions and adopting technical amendments. Among the major measures approved were the dangerous dogs bill (the Pam Rock Act), which tightened penalties and procedures after fatal attacks; a local government land regulation bill that streamlined comp plan review and defined impact-fee circumstances, though members raised concerns about quasi-judicial hearing limits and local costs; a vessel-related bill combining boating safety and voter-freedom provisions; a blood clot screening and treatment bill creating the Emily Adkins Family Protection Act; fleeing and eluding penalties; concealed carry and firearm possession rules for certain officers and service members; timeshare management reforms; and public education on background screening requirements. The chamber also approved bills on disability history and awareness instruction, manufacturing and a related fee bill, utility service restrictions, educational opportunities for military children, health facilities authorities, and veteran and spouse nursing home beds. The disability instruction bill drew extended debate about the use of the term “disability,” inclusion, and whether the measure was consistent with broader DEI debates; it passed unanimously after emotional testimony from the sponsor and families. The manufacturing and utility bills focused on statewide economic policy and preemption of local restrictions, while the military children bill was presented as a student-driven proposal. Most measures passed with strong bipartisan support, with recorded votes ranging from unanimous to 33-3 on the firearm bill and 26-8 on the land regulation bill.

Transcript Highlights:

• Uh right now at the Drury Hotel capital.
• ,<00:21:11.120> affordable increased access to capital, affordable increased access to capital
• the distribution of grants and capital the distribution of grants and capital access.<00:53:57.359
• Uh I the cutting capital expenditures.
• <01:37:50.960> are<01:37:51.119> awful capital intensive and margins are awful capital

Keywords: 1187, senate, all

Transcript Highlights:

• We still anticipate hearing the capital investment and pension bills, but those, as you know, often come
• We still anticipate hearing the capital investment and pension bills, but those, as you know, often come
• We still anticipate hearing the capital investment and pension bills, but those, as you know, often come
• We still anticipate um hearing the<00:07:45.520> capital<00:07:45.840> investment<00:07
• :46.240> and<00:07:46.479> pension the capital investment and pension the capital investment

Bills: SF1832

Keywords: economic development, small business, workforce training, grants, entrepreneurship, equity, community support, 1187, senate, all