Transcript Highlights:

• Um, and there will be a bonding bill.
• And so since some of those bonding bill.
• The bonding bill is $700 million.
• That The bonding bill is $700 million.
• </c> very good basic uh bipartisan bonding very good basic uh bipartisan bonding bill<00:10:36.480><c

Transcript Highlights:

• They are appropriation bonds. Obligation, not obligated—they're not general obligation bonds.
• They are appropriation bonds. There's a difference there.
• I think they have their own bonding authority. I think they do revenue bonds based...
• I think they have their own bonding authority.
• Issue revenue bonds. I'm not even in the state legislature. I question that. Issue revenue bonds.

Transcript Highlights:

• maximum fine for public nuisance to $500 per day, if not abated within one year, up from the current limit
• understand right now is currently they can charge up to $250 a day, but they can only charge an aggregate
• I just, my concern is limiting access to courts for people, and I do know that sometimes there are bad
• The statute of limitations is either two or four years here, which means if I want to sue over health
• As Representative Gottlieb pointed out, when you have the statute of limitations set at two to four years

Summary: The committee met with a quorum and first postponed CS for HB 781 at the sponsor’s request. It then heard and passed CS for HB 429, which codifies the existing process for terminating or cancelling motor vehicle dealer franchises and requires manufacturers to provide written sales and service performance criteria; the bill was supported by the Florida Automobile Dealers Association and was reported favorably 12-0. The committee next took up HB 983 on homeowners associations, where the sponsor described HOA fraud and abuse concerns and proposed expanding local law enforcement authority to investigate, inspect, and audit HOAs, easing recall procedures, and allowing prevailing-party attorney’s fees in recall disputes. Two amendments were adopted: one removing constitutionality-problematic Kaufman language, and another defining financial statements more comprehensively to improve HOA transparency. The bill drew support from Miami-Dade County and the Miami-Dade Sheriff’s Office and was reported favorably as amended 14-0. The committee also passed CS for HB 1343 on public nuisance abatement fines, which raises daily fines from $250 to $500, removes the $15,000 cap, adjusts foreclosure timing on unpaid nuisance liens, and allows attorney-fee calculations to include legal assistance time. Members discussed due process and notice concerns, and the sponsor said he would work on clarifying notice for both owners and nuisance-causing parties; the Orange County Sheriff’s Office supported the measure, citing violent crime tied to nuisance properties. CS for HB 643 on residual market insurers was then reported favorably without discussion. CS for HB 1183 on cybersecurity incident liability followed; it would shield government and private entities from liability if they substantially comply with cybersecurity standards, with the sponsor explaining that the bill was revised after a prior veto to define substantial compliance through policy letters, disaster recovery planning, and multi-factor authentication. Despite concerns about the breadth of the liability protection, the committee adopted an amendment and reported the bill favorably 13-1. PCS for HB 915, addressing advertisements for representation services, was also reported favorably 14-0. The bill targets misleading advertising by nonlawyers and notaries, especially in immigration-related services, requiring clear bilingual disclosures and allowing damages, fees, and injunctive relief for violations; it was supported by faith-based and civil rights groups. CS for HB 585 on former phosphate mining lands was then approved 14-0; the sponsor said it would create a defense to Water Quality Assurance Act strict liability for naturally occurring substances on former phosphate mine sites, require notice recording, radon surveys, and pre-suit radiation testing, and it would not apply retroactively to pending litigation. HB 6503, a claims bill for Mandy Penny Lemon, was also reported favorably 14-0 after brief sponsor remarks describing her severe injuries and homelessness following a 2018 incident. Finally, the committee considered HB 129 on pesticide-related products liability. A strike-all amendment was adopted that bars failure-to-warn claims for EPA-registered pesticide products when the label is consistent with EPA’s most recent human health risk assessment and carcinogenicity classification, while preserving claims if information was withheld, concealed, misrepresented, or destroyed to obtain or maintain the label. Supporters argued the bill provides certainty and respects EPA’s scientific labeling process; opponents warned it would effectively block access to courts and delay claims until after lengthy EPA investigations. After extensive debate, the committee reported the bill favorably as amended 13-1.

Transcript Highlights:

• and procedures that adhere to the state accounting manual requirements, specifically that the board limit
• We've limited the number of people, according to the state accounting manual, we've limited the number
• The lack of comprehensive processes limits their ability to ensure complaints are timely investigated
• The first priority for both revenue types is stadium bond obligations.
• For tourism revenues, these lower priorities include the Arizona Office of Tourism... ...stadium bond

Committee: Senate Senate Regulatory Affairs & Government Efficiency Committee of Reference

Transcript Highlights:

• Brown, if I may ask a question myself, would there be a way to possibly put some type of time limit in
• </c><00:10:11.040><c> in</c><00:10:11.240><c> there</c> put some type of time limit in there put some
• type of time limit in there that<00:10:11.720><c> you</c><00:10:11.800><c> know</c><00:10:12.000><c>
• It's really kind of an industrial revenue bond twist to residential development.
• Senate Bill 50 gives local governments the power to issue bonds, notes, and other obligations for the

Summary: The committee first took up Senate Bill 162, a measure on unemployment insurance fraud. The sponsor said the bill would create a clearer process for state unemployment staff to refer suspected fraud cases, especially smaller-dollar cases that may not draw federal attention, and would help protect employers and the integrity of the unemployment system. Testimony from Brian Sikma supported the bill as a common-sense anti-fraud proposal, but several senators raised concerns that suspending benefits during an investigation could unfairly burden claimants, especially if the claim later proves legitimate. The sponsor and witness said the bill was intended to allow quick adjudication and that benefits could be reinstated after review, and the sponsor noted the referral process would include identifying information and details about the suspected fraud. The committee then voted on the bill; it passed with favorable expression, 8-1, and was sent to the floor. The committee then returned to Senate Bill 1, which would create a Kentucky Film Office and Film Commission and fund the office with a portion of the state transit tax and production-related fees. Senator Wheeler and invited guests described the bill as an economic development and tourism measure meant to expand Kentucky’s film industry, attract productions statewide, and build on existing tax credits. Witnesses, including Mary K. Po... and Misty Wrigley Miller, said a state film office would help market locations, provide a searchable database for producers, and make it easier for rural communities to compete for productions. They cited an economic impact study showing about $200 million in film-related economic activity in 2022, with additional ripple effects and tax revenue, and argued the office would help create jobs and workforce opportunities for Kentuckians. Members generally praised the concept of Senate Bill 1 and compared Kentucky’s potential to Georgia’s film industry growth. Witnesses said Kentucky already has strong incentives but needs a dedicated office and commission to better promote the state and coordinate production activity. The discussion emphasized that the commission would help ensure a return on investment and that local crews and businesses would benefit from more productions. The transcript ends during continued discussion of the bill and questions from senators, with no final vote on Senate Bill 1 shown in the excerpt.

Transcript Highlights:

• Our programs are free for all participants, which limits access to traditional funding.
• Some of the specific goals and outcomes that would be measured are unclear. the limited amount of time
• It's just the financing or the color of money would be general obligation bond funds.
• Also, the May revision proposes to use interest earnings from previous bond issuance to support $5.8
• These funds are interest earnings from very old bonds and will not increase the state's debt burden.

Transcript Highlights:

• TAB 13 SB 1674 ON UNRATED BONDS. WILL BE PRESENTING THE BILL.
• THIS BILL DOES NOT EXPAND AUTHORITY BUT REINFORCES EXISTING LAW AND APPLIES ONLY TO ISRAEL BONDS AND
• TO EXPLAIN THE AMENDMENT. >> THIS AMENDMENT FURTHER CLARIFIES ADULT LANGUAGE ONLY APPLIES TO ISRAEL BONDS
• AS IT RELATES TO QUESTIONS ABOUT FINANCE, BONDING, CAPITOL PROJECTS, THINGS LIKE THAT.
• THAT INCLUDES ALL THE COST, MAINTENANCE OPERATION, BONDS, ALL THE COSTS.

Transcript Highlights:

• they can bond against.
• </c> issuing bonds. issuing bonds.
• </c> unless they own property to bond unless they own property to bond against. against. against.
• </c><03:09:54.520><c> Such</c> for the payment of such bonds. Such for the payment of such bonds.
• The bonds, notes, and other 4-609.

Transcript Highlights:

• Rural low income areas that can't get enough bonding capacity to build.
• That will have to happen before any bonds are issued. So Mr.
• with the requirement that the legislature approve propose issuances and bonds.
• Thus, the property tax would not be a suitable bonding pledge.
• It'll go out to bonding.

Transcript Highlights:

• Generally, this bond authorization bill focuses on GO and GO appropriation only.
• Bond part generally<00:42:22.079><c> this</c><00:42:22.440><c> Bond</c><00:42:22.760><c> authorization
• </c><00:42:23.440><c> Bill</c> generally this Bond authorization Bill generally this Bond authorization
• Generally, the bond bill is limited to general obligation bonds.
• So, to avoid any confusion, we'd like the bill to represent just GO bonds. Okay, I understand.

Committee: House Finance

Transcript Highlights:

• </c> table in terms of tax exempt Bond table in terms of tax exempt Bond financing<01:27:03.840><c> and
• but because they're financed with tax-exempt bonds, you know, people buy those bonds on the public market
• </c> they're financed with tax exempt bonds they're financed with tax exempt bonds um<01:28:12.360><c
• </c><01:28:14.239><c> on</c> um you know people buy those Bonds on um you know people buy those Bonds
• we put back into the issuing these bonds we put back into the bond<01:29:08.639><c> indentures</c><01

Committee: House Housing

Transcript Highlights:

• The charter school portion, as 3253 relates to bonding and bonds being issued.
• The formula is not for bonds, but it's to get money through this formulary in place of bonds where they're
• It is the information about limits on how the funds can be invested, and this says included, not limited
• You know, the treasurer has limits to be cautious for cash flow, etc.
• How can we be sure that these funds are limited in terms of limiting potential conflicts of interest

Bills: HB3257 , HB3176 , HB3544 , HB3619 , HB3546 , HB1782 , HB2293 , HB4358 , HB3081 , HB3983 , HB3790 , HJR1023 , HB4139 , HB3297 , HB3041 , HB3673 , HB4105 , HB3338 , HB3048 , SR33 , SCR21 , SCR20 , HB4030 , HB4031 , HB4032 , HB4034 , HB4036 , HB4037 , HB4038 , HB4040 , HB4041 , HB4042 , HB4043 , HB4045 , HB4046 , HB4047 , HB4048 , HB4044 , HB4050 , HB4051 , HB4052 , HB4053 , HB4054 , HB4056 , HB4057 , HB4071 , HB4065 , HB4067 , HB4072 , HB2992 , HB4338 , HB4170

Transcript Highlights:

• Bonds don't have to be re approved until the bond ends.
• In this case, the ballot must inform voters of the intent to bond the revenues and explain what the bond
• I see that there are I see that there are bonding deadlines here as it relates to >> meeting, too.
• the bonds are completed in.
• That's the deadline that it appears local governments will have to issue these bonds.

Transcript Highlights:

• The state appropriation limit and the cap tend to be the two primary reasons that limited our ability
• We hit the cap on the limit.
• So we not only hit the cap, but we also hit the limit for the state appropriations limit.
• The appropriations limit limits the growth in spending to population...
• Not, you know, the bond markets.

Summary: The Senate Budget and Fiscal Review Committee held an informational hearing on California’s Budget Stabilization Account, or Rainy Day Fund, with opening remarks focused on the state’s long history of revenue volatility and the role reserves play in smoothing downturns. The Legislative Analyst’s Office explained that California’s personal income tax base is highly volatile because high-income earners’ income is tied to capital gains and other fluctuating sources, and that Proposition 2’s current reserve rules set aside 1.5% of General Fund revenues plus a share of excess capital gains, but cap constitutional deposits at 10% of General Fund taxes. The LAO said its analysis evaluates reserve policy over decades and found the current system would cover about 30% of funding shortfalls in a 90th-percentile downturn scenario over 50 years, which is an improvement over no reserve but still inadequate. The LAO recommended raising the reserve cap substantially, ultimately to 50% by 2055, with an immediate increase to 20% and gradual increases thereafter. It also suggested either replacing Proposition 2’s deposit formulas with broader rules that capture volatility across all tax revenues or, alternatively, depositing all excess capital gains rather than only a share. The Department of Finance said the Governor’s prior proposal similarly sought to raise the cap from 10% to 20% and exclude reserve deposits and withdrawals from the state appropriations limit, arguing those two constraints limited the state’s ability to save during recent revenue surges. Other panelists and members discussed whether reserves should be paired with broader structural changes, including unemployment insurance reform, safety-net funding, infrastructure reserves, and the projected surplus temporary holding account. The California Budget and Policy Center supported reserve reform but emphasized balancing savings with current needs and noted other tools such as revenue increases, borrowing from special funds, and the new surplus-holding account. Members debated the causes and effects of Proposition 13, the appropriations limit, business departures, and whether reserve policy should be more directly tied to protecting Californians’ access to health care, food assistance, child care, and other core services. No votes or formal actions were taken, as the hearing was informational only.

Transcript Highlights:

• The State Highway Project Bonds bill will also be on our docket.
• Is the bonding Senate Bill 2? Thank you. Mr.
• was a bond, and now it's bond plus tax plus fees, plus this, plus that.
• in that bond are out, and there are 17 projects in there through 33.
• There will be very limited additional work.

Committee: House House Appropriations & Finance

Transcript Highlights:

• There's also various revenue bonds and interfund loans.
• </c> obligation bonds. obligation bonds.
• And so, it would be the developer bonds.
• </c><00:31:58.920><c> after</c><00:31:59.200><c> a</c> Um, the bonds are defeased after a Um, the bonds
• So, um there's a lot of limitations.

Committee: Senate Taxes

Transcript Highlights:

• So we've had limited amount of time.
• </c> When the bonds are issued, yes. All right.
• </c><00:57:38.360><c> calculation</c> and institute a new bond calculation and institute a new bond calculation
• </c><01:03:37.040><c> in</c> could face stricter pollution limits in could face stricter pollution limits
• </c> require pollution permits and to limit require pollution permits and to limit the<01:03:51.760><

Summary: The committee met for an initial natural resources hearing with a quorum present and introductory housekeeping, including prayer, roll call, and recognition of guests. Chair Smith outlined ground rules for questions and then invited Kentucky Power and American Electric Power representatives to the table to discuss a proposed plan involving the Mitchell Power Plant and future generation needs in Eastern Kentucky. Witnesses Cindy Wiseman, Alex Vaughn, and AEP CEO Bill Fehrman said the company’s goals are to stabilize and lower rates, reduce rate volatility, and expand generation in the Commonwealth. They explained that Kentucky Power seeks legislative authority to securitize its 50% interest in the Mitchell coal plant, describing securitization as a refinancing mechanism that would lower annual plant costs by about $34 million and help offset roughly one-third of the expected cost of adding new generation in Kentucky. They emphasized that the proposal is not intended to close Mitchell, and said Kentucky Power currently has no plan to divest its interest; the company still needs the plant to serve customers while it pursues additional dispatchable generation in Kentucky. Members pressed the witnesses on the plant’s book value versus fair market value, whether the Mitchell interest had ever been assigned a nominal value, how any divestiture proceeds would be handled, whether Kentucky Power owns Wheeling Power, and how long Mitchell can continue operating. The company said it values Mitchell at net book value for accounting purposes, not fair market value, and explained that Wheeling Power is a separate AEP affiliate and that West Virginia affiliates have already proposed securitization of their share. Witnesses said Kentucky Power’s interest cannot technically operate past 2028 without additional environmental control investment, while the West Virginia side is depreciating through 2040. They also described the financing timeline, saying securitization would require enactment of legislation, a PSC financing order, bond issuance, and then parallel work to acquire or build new generation, with any reinvestment terms to be addressed through the regulatory process.

Transcript Highlights:

• </c><00:10:01.320><c> in</c> grazing is generally very limited in grazing is generally very limited in
• Conservation easements also limit development potential.
• Conservation easements also limit development potential.
• Conservation easements also limit development potential.
• </c> city of nisat implemented a road Bond city of nisat implemented a road Bond cycle<01:05:15.799><

Bills: HF1698 , HF632 , HF1352 , HF2197 , HF618 , HF1248 , HF1697

Committee: House Taxes

Transcript Highlights:

• The state appropriation limit and the cap tend to be the two primary reasons that limited our ability
• So we not only hit the cap, but we also hit the limit... We hit the cap on the limit.
• So we not only hit the cap, but we also hit the limit for the state appropriations limit.
• The appropriations limit limits the growth in spending to population...
• The appropriations limit limits the growth in spending to population growth and income growth, which

Committee: Senate Budget and Fiscal Review

Transcript Highlights:

• We no longer have bond money.
• We've done two rounds of the bond B-chip. Yes.
• , in March we did the bond round two.
• I think it's over $200 million that we did with our tribes just for the bond alone.
• While this may be helpful for flexibility, it kind of limits legislative oversight.