Video & Transcript Research : 'Boot Capital'
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MN
Minnesota 2025-2026 Regular Session
House Transportation Finance and Policy Committee 2/12/25
Transportation Finance and Policy
Transcript Highlights:
- I'm the capital planning director at MnDOT, and I oversee the Corridors of Commerce program. Great.
- planning director um at I'm the capital planning director um at mind<00:37:05.160>
and <00:37: - Throughout the years, we have been a vocal champion for transportation funding in the capital bonding
- Throughout the years, we have been a vocal champion for transportation funding in the capital bonding
- Throughout the years, we have been a vocal champion for transportation funding in the capital bonding
CA
California 2025-2026 Regular Session
Assembly Utilities and Energy Committee Jun 24th, 2026
Utilities and Energy
Transcript Highlights:
- PG&E, for example, through 2030 is projecting $73 billion in capital expenditures, 9% annual increase
- Public bonds and securitization, with the idea being that we can find cheaper sources of capital for
- some portion of these future capital investments.
- There is not an unlimited amount of capital that can come to California.
- There is not an unlimited amount of capital that can come to California.
NH
Transcript Highlights:
- make New Hampshire more capital make New Hampshire more capital investment<00:07:41.840>
friendly - section 179 is just about capital section 179 is just about capital investment,<00:12:25.440>
- capex capital expenditures can take it. capex capital expenditures can take it.
- million, whatever on capital million, whatever on capital expenditures, expenditures, expenditures
- Creating jobs, capital, and investment in our state.
NM
New Mexico 2025 Regular Session
IC - Military and Veterans Affairs Oct 14th, 2025
Transcript Highlights:
- Sometimes counties or municipalities don't like to be the fiduciary, and it's tough to give you capital
- A lot of it comes in capital outlay for projects that are going on throughout the Navajo Nation, whether
- Being that I was the chairman of Indian Cultural Affairs, I know there were many times where capital
- New Mexico used to send money to the Navajo Nation, I believe it was under capital outlay, specifically
- You mentioned under When former Senator Lovejoy was in office, there used to be capital outlay funding
FL
Florida 2026 5th Special Session
Appropriations Committee on Higher Education Oct 8th, 2025
Transcript Highlights:
- about $60 million to restore the $100 million that we had the previous two years for workforce capitalization
- dollars that come along and support and get the long-term sustainability of those programs after those capital
- The first one is our workforce development capitalization incentive grant, or simply what we call workforce
- The first one is our workforce development capitalization incentive grant, or simply what we call workforce
- Now, what workforce capitalization does is it allows local educational agencies on the secondary and
Summary:
The Higher Education Appropriations Committee met for its first meeting of the session and heard presentations focused on workforce education in the Florida College System and district technical colleges. Members introduced themselves and discussed their personal connections to higher education, then heard from Department of Education senior chancellor Kevin O’Farrell, South Florida State College president Fred Hawkins, and Pinellas Technical College representative Mark Hunt. O’Farrell outlined the department’s budget request, including increases for adult education, Florida College System program funds, workforce development capitalization grants, apprenticeship and teacher apprenticeship programs, Open Door scholarships, and CAPE industry certification funding. He emphasized record growth in enrollments, completions, dual enrollment, and program offerings, and described grant-funded expansion in fields such as health sciences, manufacturing, logistics, aerospace, and AI-related programs.
Committee members raised concerns about whether current programs match actual labor-market demand, how artificial intelligence may reduce future human labor needs in some fields, and how the state should avoid unwarranted duplication of programs. O’Farrell said the department uses economic forecasts, employer demand data, and a CTE audit process to review programs and phase out those that do not meet performance thresholds. Members also asked for more detail on the teacher apprenticeship model, the transition from technical college clock hours to college credit, job placement and salary outcomes, and the LPN-to-RN pathway. O’Farrell said he would provide additional information later.
Hawkins described South Florida State College’s rural service area, low college-going rates, and difficulty recruiting and retaining faculty and staff because salaries lag behind local market alternatives and nearby school district pay. He said the college has had to turn away students in high-demand programs due to staffing and operational limits, while also noting strong outcomes in nursing, dental hygiene, EMT/paramedic, and radiography. Hunt said Pinellas Technical College serves about 5,000 students annually, including many dual-enrolled high school students, and reported a placement rate above 90% and strong local economic returns. He said many programs have waiting lists and that additional operational funding is needed to meet demand, maintain equipment, and keep pace with salary and cost increases. The meeting ended after public comment was opened and no further business was brought before the committee, and the committee adjourned.
NH
New Hampshire 2025 Regular Session
Capital Project Overview Committee (06/30/2025)
Transcript Highlights:
- It being 9:00 a.m., I'm going to officially call to order the Capital Project Overview Committee meeting
- Um, we seek your approval on $754,000 worth of maintenance capital investments.
- Um, the capital budget um last biennium had asked for a more detailed report from the community college
- Um, and again the information in aggregate is in there for the community college system, but the capital
- <00:26:27.120>
budget college system but the capital budget college system but the capital
Summary:
The Capital Project Overview Committee approved the minutes from its February 24 meeting and then received a briefing on the legislative parking garage from Terry Poff, Chief Operating Officer for the General Court. He reported that the pre-stressed concrete garage, being built with panels fabricated by Unistress in Pittsfield, Massachusetts, remains on schedule, with erection expected in late July through August and functional occupancy targeted for March 17, 2026. He said the garage will provide 409 spaces, security cameras, a communications repeater, and a maintenance plan developed from the outset. In response to questions, he explained nearby street excavation is for drainage vaults and oil-water separators, and that temporary closures will be needed during panel deliveries. He also said the garage was designed with future EV charging infrastructure in mind, but current charging stations would need to be located outside the secure facility; he has begun discussions with city officials about possible curbside charging options.
The committee then heard and approved a $754,000 capital request for Cannon Mountain/Franconia Notch State Park maintenance projects. The request, recommended by the Cannon Mountain Advisory Commission, covers lodge exterior repairs, lift maintenance, snowmaking pipe replacements and pump controls, and equipment purchases to improve maintenance operations. The committee approved the item after brief discussion.
Next, the Department of Transportation presented two toll-credit requests. The first, CAP 250007, sought toll credits to support transportation planning, regional planning commissions, GIS and asset-management work, and related federal planning requirements; members asked about coordination with Granite data and the effect of a prior budget decision on regional planning officers, and staff said the request would not affect the regular federally funded program. The committee approved the item. The second, CAP 25010, sought $245,000 in toll credits for bus terminal improvements, regional mobility management, a statewide transit assessment, and an intercity bus pilot intended to connect Keene with southern New Hampshire or Concord. Members asked about the subsidy structure and ridership reporting; staff said the intercity service would be a net-cost subsidy and agreed to provide updated ridership and route information. The committee approved this item as well.
At the end of the meeting, the committee noted that a quarterly capital projects report from DAS and the community college system was informational only, and members opted not to hear a separate presentation that day. The next meeting was set for September 29 at 9:00 a.m., with a request to invite HHS to discuss closed-loop referral system projects. Members also asked for future updates on the planned sale of the Cenuunu Center, and the committee adjourned after a motion carried.
TX
Transcript Highlights:
- Uh, the budget for the airport, including the capital spend, it's going to go up a lot in the future
- Um, well, if you look at our capital program, our capital program, you know, it fluctuates from year
- Electric utilities are highly capital intensive.
- Also, the water utilities are even more capital-intensive. They, they do.
- They just have higher capital expenditures and other operations.
TX
Transcript Highlights:
- the primary funding mechanism, as this committee knows very well, for school districts to pay for capital
- Over $88 billion in school tax elections for capital projects was approved by Texans from 2020 to 2024
- For transparency, over $88 billion in school tax elections for capital projects was approved by Texans
- ..your first page there, and replaces subsection B1F on page two to include other data related to capital
- They don't have the capital, you know, they don't have big businesses and lots of folks that live in
Summary:
The Senate Education K-16 Committee heard several bills focused on school finance, transparency, student safety, and educator misconduct. SB 843 by Senator Kolkhorst would create a centralized TEA database for school bond elections, tax rates, and project details; supporters said it would improve transparency for taxpayers, while members discussed the fiscal note and suggested adding charter schools. SB 1224 by Senator Sparks would require superintendents to report alleged romantic, sexual, or abusive conduct between staff and students directly to law enforcement within 48 hours, with penalties for failure to report; testimony from advocates and survivors strongly supported the bill and urged that it also apply to private and charter schools. SB 747 by Senator Paxton on behalf of Senator King would require school district policies addressing AI-generated sexually explicit images of minors as cyberbullying and direct the School Safety Center to develop guidance; the committee heard emotional testimony from a student victim and discussed school authority to discipline off-campus conduct and the role of cell phones.
The committee also heard SB 1636 by Senator Hinojosa, which would limit use of interest and sinking tax revenues to debt service for voter-approved capital projects and not deferred maintenance; school finance witnesses raised concerns that the bill’s language could restrict needed facility maintenance spending and asked for a clearer definition of deferred maintenance. SB 2185, also by Senator Hinojosa, would expand access to the bilingual education allotment for dual-language programs; district officials and educators testified in support, saying it would remove barriers to funding and better support bilingual instruction. SB 604 by Senator West would require the Permanent School Fund Corporation to publicly track bonds backed by the state guarantee program that are downgraded to speculative or junk status, with West arguing the information would provide an early warning sign of district financial distress.
Across the hearing, much of the testimony centered on student protection and accountability in schools. Multiple witnesses described educator misconduct cases, failures to report abuse, and the need for outside law enforcement involvement rather than internal district investigations. Committee members repeatedly discussed extending reporting and safety requirements to private and charter schools, and several witnesses urged independent oversight. No bills were voted out; each measure heard was left pending, and the committee recessed subject to the call of the chair.
TX
Transcript Highlights:
- today and you know on behalf of myself and Senator Creighton We want to welcome you to your Texas capital
- treasurer of Galveston County, so it's also not every day that we have a... county up at your Texas capital
- It's great to see everyone up for. home and bring those Galveston County values to your Texas capital
- Bill, you've built in a section that has market capitalization requirements.
- Market capitalization pertains to how much value that asset has. as when combined all together.
Bills:
SJR34, SB10, SB18, SB19, SB21, SB72, SB140, SB262, SB370, SB480, SB495, SB627, SB703, SB767, SB790
Keywords:
parental rights, parents, children, custody, care and control, upbringing, family law, constitutional amendment, Texas Constitution, child welfare, education policy, medical decisions, parental authority, primary decision makers, family autonomy, education, Ten Commandments, public schools, religious display, First Amendment
NH
New Hampshire 2025 Regular Session
House Education Funding (09/09/2025)
Transcript Highlights:
- On the capital request—it's a capital request—and that's in law as well.
- <00:25:37.200>
costs <00:25:37.679>capital <00:25:38.080>costs have been capital - costs capital costs have been capital costs capital costs have<00:25:38.960>
been <00:25:39.200 - program to reduce that capital up front. program to reduce that capital up front.
- <01:03:57.599>
improvement <01:03:58.319>plan capital improvement plan capital improvement
Summary:
The subcommittee began its first meeting on retained education funding bills, focusing on HB 366, which concerns school building aid for eligible projects, and HB 295, which would make school building aid program funds non-lapsing. The chair framed the discussion around broader questions about how school building aid should work, noting the state’s limited available funding, the existing debt service obligations, and whether the current formula should continue or be changed. He also raised concerns about the state’s overall revenue constraints and the need to consider renovation, new construction, and possibly leasing within any future program.
Members and the Department of Education representative discussed whether school building aid is a state or local responsibility, the current backlog of projects, and the condition of school facilities statewide. Tim Carney of the Bureau of School Facilities described his background and answered technical questions about current programs. Representative Luno argued that under the ConVal decision the state has responsibility for school buildings, including construction and renovation, and that the program also serves an equity function by helping districts with less property-tax capacity. Representative Papich urged the committee to focus on policy structure and fairness rather than just available dollars, saying the current system creates winners and losers and suggesting a simpler per-capita or similar allocation model, while acknowledging a possible transition for projects already in the pipeline.
The discussion also covered CTE facilities and leasing. Carney explained that charter schools, and possibly CTE centers, can receive limited leasing aid, and that CTE capital requests are funded through a state capital process, while federal Carl Perkins funds cannot be used for construction. He and others described a separate rotational funding approach for CTE centers, but several members said that model can leave programs waiting too long and may not match changing workforce needs. The chair and others noted that a report from a related study group on CTE policy and funding was still pending, and that its absence could affect legislation for FY28. No votes were taken and no bill was acted on in the portion of the meeting provided; the discussion ended with interest in modeling alternatives, reviewing the waiting list, and examining the tradeoffs of reducing upfront state aid versus funding more projects overall.
MN
Transcript Highlights:
- Madam Chair and members, my name is Carl Hunt with Capital Resources of Corrections.
- Pre-design is the precursor to building our capital request in the future years.
- the precursor to building our capital the precursor to building our capital request<00:45:59.280
- All capital assets are buildings.
- <01:15:39.040>
on ready uh most often uh can capitalize on ready uh most often uh can capitalize
MN
Transcript Highlights:
- Treasury awards $5 billion to community development entities, CDEs, like Advantage Capital and about
- >
impact <00:46:07.599>investor Advantage Capital is an impact investor Advantage Capital - <00:46:41.119>
just parts of the country where capital just parts of the country where capital - they need and have access to the capital they need and they<00:47:33.040>
have <00:47:33.119>< - And like Alex was mentioning, um, we're struggling to find working capital cash to double our size of
Keywords:
individual income tax, retirement contributions, tax corrections, annuity contracts, tax year attribution, tax credit, economic development, community investment, data disclosure, Minnesota regulations, tax increment financing, municipal authority, job creation, transferred increment, public hearing, nonresident employees, income tax exemption, Minnesota taxation, employment duties, tax withholding
MA
Massachusetts 2025-2026 Regular Session
Senate Session Jun 21st, 2026 at 11:00 am
Massachusetts Senate Floor Meeting
Transcript Highlights:
- And one of the most significant debates we had was about what do we do with excess capital gains funding
- President, if we had our way, that account would have been less than 85% funded from excess capital gains
- My good friend, the decision. 25% funded from excess capital gains.
- Were it so in our nation's capital?
- We can allocate some of the money from the excess capital gains revenue—money that's already above our
Summary:
The Senate first adopted an emergency preamble for H. 4521, establishing a sick leave bank for Kathleen Roder of the Office of the Chief Medical Examiner, by standing vote, with 8 in favor and none opposed. The chamber also suspended rules to refer several petitions to committee, including a resolution to rescind prior Article 5 constitutional convention applications and a petition on officer training related to stage suicides. Committee reports moved several bills forward, including legislation clarifying the duties of the Adjutant General and enhancing access and support for military-connected families, both with new drafts, and a bill designating Veterans Suicide Awareness and Remembrance Day, which was ordered to a third reading.
A major portion of the session focused on the House’s nonconcurrence in the Senate’s amendment to the fiscal year 2025 supplemental budget and the appointment of a conference committee. Senators from both parties debated how to respond to the federal government shutdown and the threatened lapse in SNAP benefits, with repeated calls for the Commonwealth to use available state resources to prevent hunger, protect vulnerable residents, and seek federal reimbursement. Several members criticized the governor’s use of taxpayer-funded communications on the issue, while others defended the administration’s limited initial response and emphasized fiscal constraints. The Senate ultimately insisted on its amendment and appointed a conference committee consisting of Senators Rodrigues, Comerford, and O’Connor.
The chamber also passed several local and special bills, including measures exempting Natick’s assistant fire chief from civil service, authorizing sewer service in Sharon, changing the term of the elected moderator in Holden, updating Medford’s linkage exaction program, and establishing sick leave banks for Candy J. Pike and Kathleen Roder. The Senate later adopted amended resolutions calling on the President of the United States to release contingency funds for SNAP during the shutdown, adopted an order to adjourn to the following Monday, and then adjourned.
MN
Minnesota 2025-2026 Regular Session
Minnesota House passes omnibus cannabis bill 5/17/26
Minnesota House Floor Meeting
Transcript Highlights:
- only people who are currently operating right now are either very lucky or they already had liquid capital
- <00:08:58.960>
is <00:08:59.200>access <00:08:59.720>to <00:08:59.880>capital - cannabis business is access to capital. cannabis business is access to capital.
- ><00:09:36.080>
were <00:09:36.240>had <00:09:36.560>liquid <00:09:36.960>capital - or they already were had liquid capital or they already were had liquid capital to<00:09:37.520>
Summary:
Senate File 4401, a cannabis bill, was presented as a broad maintenance package developed through months of work with more than 80 stakeholders, including small businesses, labor, tribal representatives, medical licensees, and the Office of Cannabis Management. The author said it makes a series of technical and policy adjustments, including support for small businesses, hemp QR codes, privacy protections, event coordinator changes, clearer product definitions, investor and timeline changes, and a bridge for hemp businesses to enter cannabis. It also addresses medical cannabis access by renaming medical combination licenses as macro licenses, eliminating the grow-and-sale ratio, correcting canopy estimates, requiring key products to be stocked, and creating a first step toward a medical psilocybin program with a report and federal funding directive.
Representative West supported the bill overall but criticized the canopy reduction for medical combination licenses, arguing it changes the rules midstream and could lead to litigation and taxpayer costs. He said the bill helps social equity applicants by allowing more outside investment and described the hemp provisions as a way to save that industry. The author responded that the bill right-sizes a temporary system and reflects stakeholder agreement on needed changes.
After discussion, the author again urged a green vote and thanked staff and prior cannabis workers for their help. There were no amendments at the desk, the bill was given a third reading, and the House passed Senate File 4401 by a vote of 92 ayes to 42 nays, with the title agreed to.
AZ
Arizona 2026 Regular Session
04/29/2026 - House Republican Caucus Calendar #21
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
Summary:
House Republican caucus met on April 29 to review the FY 2027 budget package and several related “budget implementation” bills, with Chairman Livingston noting that HB 2415 was being held. Staff and members walked through HB 4138, the General Appropriations Act (“feed bill”), which appropriates about $17.96 billion from the general fund and includes one-time fund transfers, 5% lump-sum reductions for most agencies, funding for the state health insurance plan, school facilities, child care, correctional officer stipends, public safety, and other prior-year items. Members emphasized that the budget reflected House and Senate negotiations after the governor left budget talks, and Republican leaders framed it as a package that lowers taxes, shrinks government, and funds priorities such as K-12, child care, foster care, and public safety.
The caucus then reviewed a series of mostly standard budget bills: HB 4139 on gaming/racing assessments; HB 4140 on federal monies, the budget stabilization fund, and ACE initiative savings reporting; HB 4141 on capital outlay, highway construction, airport funding, and rural transportation match funds; HB 4142 on commerce and lottery distributions; HB 4143 on corrections reporting; HB 4144 on environmental provisions and water-related fund uses; HB 4145 on state employee health insurance premiums and DES reforms; HB 4146 on higher education funding provisions; HB 4147 on SNAP administration and error-rate reduction; HB 4148 on K-12 inflation adjustments, school facilities, and ASDB property-sale oversight; HB 4150 on county expenditure flexibility and state office rent rates; HB 4151 on the Department of Revenue’s integrated tax system funding and related charges; HB 4152 on tax conformity, deductions, and repeal of several renewable-energy tax preferences and the Rio Nuevo diversion; and HB 4153 on transportation reporting. Discussion repeatedly centered on health plan solvency, SNAP/ACCESS eligibility and fraud controls, school funding, rural transportation, and tax conformity and relief.
The caucus also took up several blue-sheet bills: HB 2035 on extended-family placement notifications in child welfare cases; HB 2170 restricting certain PRC-controlled companies from state IT contracts; HB 2249 expanding Parents’ Bill of Rights provisions; HB 2573 on DUI interlock/restricted-license rules and psychotherapy definitions; and HB 2873, which was amended to allow withdrawal of referendum petitions before ballot qualification. HB 2415 was held. The Speaker closed by praising the caucus for its budget work, saying the package delivers tax relief, protects vulnerable populations and public safety, and reflects months of Republican negotiations, and the meeting adjourned to the floor.
AL
Transcript Highlights:
- 47.919>
the <00:07:48.400>House Over 40 years ago, they moved the House chamber from the capital - That's the circular side<00:18:05.600>
of <00:18:05.760>the <00:18:06.000>capital - side of the capital for the members. side of the capital for the members.
- work was pivotal in bringing numerous companies, more than 4,000 jobs, and more than $500 million in capital
- work was pivotal in bringing numerous companies, more than 4,000 jobs, and more than $500 million in capital
FL
Florida 2026 5th Special Session
Appropriations Committee on Transportation, Tourism, and Economic Development Nov 19th, 2025
Transcript Highlights:
- We understand that the number one challenge small business is going to face is access to capital.
- We understand that the number one challenge of small business is going to face is access to capital.
- Thank you. ...to capital. So we have our State Small Business Credit Initiative.
- By backing that loan from the state, we're able to help them get that access to capital.
- The Florida Opportunity Fund is the state's venture capital...
Summary:
The committee heard two informational presentations: one from the Department of Commerce and one from the Florida Department of Transportation. Jason Mahon of Commerce outlined the state’s economic development strategy and tools, emphasizing Florida’s GDP growth, business formation, and strengths in manufacturing, high-tech, defense, life sciences, and international trade. He described programs such as the State Small Business Credit Initiative, the Rural Community Investment Program, the Florida Opportunity Fund, the Rural Infrastructure Fund, the Job Growth Grant Fund, performance-based tax credits, and disaster recovery loans, and cited examples including ServiceNow, Williams International, NeoCity, and Point Blank Enterprises. Members asked about small-business grants, foreign investment interest, workforce needs, and whether additional tools are needed; Mahon said most Commerce programs are loan-focused and noted ongoing workforce and site-readiness challenges.
Jennifer Marshall of FDOT then reviewed major transportation projects and the Moving Florida Forward initiative, highlighting congestion relief, express lanes, bridge and interchange work, and accelerated delivery methods. She cited projects such as Golden Glades, I-95 improvements, the NASA Causeway Bridge, the DuPont Bridge, I-4 corridor work, the First Coast Expressway, the Howard Frankland Bridge, A1A seawall work, and Turnpike projects, along with examples of cost savings and schedule acceleration. Senators asked about how express lane locations are chosen, toll revenue use in South Florida, the status and cost of the I-395 downtown Miami project, and whether EV and rideshare access to express lanes should be preserved. FDOT said it would follow up on several of those questions, and the committee adjourned without taking any legislative action.
TX
Texas 89th 2nd C.S.
Trade, Workforce & Economic Development Apr 9th, 2025
Trade, Workforce & Economic Development
Transcript Highlights:
- We we show you registered as Benjamin Hiller testifying on behalf of HBK Capital Management and that
- of capital markets in the United States.
- Preferably relocate their corporate headquarters to Texas and 3, help build capital markets in our state
- Uh, all this has actually been done with, uh, completely private capital.
- Uh, this is part of our family office and, uh, we continue to do that, uh, with a private capital.
ND
North Dakota 2025-2026 Regular Session
Tax Reform and Relief Advisory Committee Jun 23rd, 2026
Transcript Highlights:
- Some counties delayed capital improvements and deferred asset purchases.
- They're constantly comparing where they can best monetize the capital that they deploy.
- Any way to rank the best return for their investment capital. They'll rank all of those out.
- Any way to rank the best return for their investment capital. Basin. They'll rank them by state.
- Any way to rank the best return for their investment capital. Yeah. Further questions for Mr.
Summary:
The Tax Reform and Relief Advisory Committee met with a quorum, approved the March 17, 2026 minutes, and heard a lengthy update from Tax Commissioner Brian Croshys on property tax relief programs. He reviewed the Homestead Property Tax Credit, Disabled Veteran Credit, and Primary Residence Credit, noting increased relief after House Bill 1158 and House Bill 1176, but also discussing how some households “income adjust out” of eligibility over time. Members asked about indexing income thresholds, expanding eligibility by age alone, simplifying administration, county-level notices, and whether the county and state systems could be streamlined. Croshys said the programs are heavily used, largely administered at the county level, and that the department is still refining compliance and reporting; he also said there were no material findings or overarching concerns in the latest review. The committee agreed more detailed PRC information would likely come back in a September meeting, and the chair announced an afternoon recess for lunch before later reconvening.
Shelly Myers then presented the statewide property tax increase report, the zero-growth report, and a statistical report on property values and tax levies by class. She explained how county auditors report levy and valuation data, how increases and decreases are counted, and identified counties and cities with the largest percentage changes in growth or decline. She also summarized recent trends: agricultural values remain relatively flat, while residential, commercial, and centrally assessed values have risen over the last five years; in 2025, residential property accounted for the largest share of statewide property tax levies, followed by commercial, agriculture, and centrally assessed property. Committee members asked about unusual zero-growth figures, the effect of annexation and land-use changes, and whether the 3% levy cap was forcing political subdivisions to use reserves or defer spending. Myers said many counties complied by using reserves, delaying capital projects, or limiting increases, and that some counties had not used their full cap.
The committee then moved to the stripper oil extraction tax exemption. Commissioner Croshys reviewed the state’s oil tax structure and estimated the revenue impact of keeping stripper wells exempt from extraction tax while still paying production tax. He said the exemption saves operators hundreds of millions of dollars over a biennium, while the state still collects production tax on those wells. He also discussed projected impacts if the exemption were changed for future wells and noted that future outcomes depend on oil prices, production declines, and technology such as CO2 enhanced oil recovery. Nathan Anderson of the Department of Mineral Resources briefly explained the historical difference between the 35-barrel and 30-barrel thresholds for certain wells, citing differences in completion costs and lateral lengths. The committee then heard from EERC CEO Charles Gorecki, who presented an analysis of oil well life cycles and said most oil is produced before wells reach stripper status, but that refracturing or other reinvestment can significantly extend production and keep wells above the threshold for years.
CA
California 2025-2026 Regular Session
Senate Budget and Fiscal Review Subcommittee No. 4 on State Administration and General Government May 7th, 2026
Transcript Highlights:
- CalIP ensures that great organizations like Access Plus Capital can continue to do that work.
- CalIP ensures that great organizations like Access Plus Capital can continue to do that work.
- Without tools like CalIP, many child care providers would not be able to access the capital needed to
- My name is Amanda Sanchez, and I am here as the co-founding director of Capital Creative Alliance, a
- My name is Amanda Sanchez, and I am here as the co-founding director of Capital Creative Alliance, a