Transcript Highlights:

• This bill created the Texas State Buildings Preservation Endowment.
• The agency was also the very appreciative beneficiary of an endowed endowment that will allow us to enhance
• When we say that a third of it, a hundred million, it's going to act as an endowment, right?
• The endowment will be able to help with the properties that our agency manages.
• It's an investment so that we can endow, basically, future upkeep of the people's land here.

Bills: SB1 , SB 1

Committee: Senate Finance

Transcript Highlights:

• Chairman, I would move to send the gubernatorial reappointment of Robert Donaldson to the Idaho Endowment
• committee will consider voting on the gubernatorial reappointment of Irving Littman to the Idaho Endowment
• committee will consider voting on the gubernatorial reappointment of Irving Littman to the Idaho Endowment
• Chairman, I move that we send the gubernatorial reappointment of Irving Littman to the Idaho Endowment
• Littman to the Idaho Endowment Fund Investment Board be sent to the Senate floor with the recommendation

Committee: Senate State Affairs

Transcript Highlights:

• So is it accurate that this proposal removes $1 billion from a constitutionally protected health endowment
• is it accurate that once this $1 billion is removed, it is permanently removed from the original endowment
• When voters created the Tobacco Settlement Endowment Trust, they made a deliberate choice: protect the
• Currently, it's in a system as an endowment trust where it is protected from political divisiveness,

Bills: HB3327 , HB3711 , HB4104 , HJR1077 , HB3329

Committee: Senate Rules

Summary: The committee first considered House Bill 3711, which was described as a work in progress aimed at increasing transparency for taxpayers about instructional expenditures in school bond communications. Members questioned whether the bill changed what districts may bond for, and the author said it did not alter the bond process, only added communications. After title was struck, the bill passed committee 13-5. House Bill 4104, dealing with repeat peeping Tom and clandestine recording offenses, was presented with an amendment adding conduct involving three or more separate victims as a basis for felony treatment. The amendment was adopted after questions about its legal basis and a recent court decision. The bill as amended then passed committee unanimously, 18-0. The committee also took up House Joint Resolution 1077, which would send to voters a proposal to move $1 billion from the Tobacco Settlement Endowment Trust corpus into a new Oklahoma’s Futures Trust Fund. The proponent said the T-SET board would remain in place, the corpus would stay protected, and annual earnings from the new fund would be split between reinvestment and legislative appropriations for health and education. Opponents argued the measure would shift money from an independent endowment to a politically controlled process and could weaken existing T-SET programs. After debate, the resolution passed committee 14-4. Finally, House Bill 3327 proposed expanding the State Board of Education from seven to nine members, with appointments divided among the governor, speaker, and president pro tem, and allowing removal only for cause. Members raised questions about geographic representation and vacancy appointments, but the bill passed as amended 15-2. House Bill 3329, a trailer bill related to sunset legislation, added a July 1, 2027 sunset for the Board of Psychological Examiners after concerns about its handling of a complaint and a recent court ruling; it passed as amended 14-2, and the committee then adjourned.

Transcript Highlights:

• President, the state is not endowed with limitless resources at the moment. ...you may have read, Mr.
• President, the state is not endowed with limitless resources at the moment.
• President, the state is not endowed with limitless resources at the moment. you may have read, Mr.
• President, the state is not endowed with limitless resources at the moment.

Bills: SB5223 , SB5928 , SB6071 , SB5995 , SB5966 , SB5841 , SB6061 , SB5944 , SB5520 , SB6087 , SB6076 , SB5916 , SB6016 , SB6137 , SB6009 , SB5833 , SB6161 , SB5890 , SB5973 , SJM8015 , SB5816 , SB5053 , SB5249 , SB5536 , SB5834 , SB5837 , SB5872 , SB5879 , SB5899 , SB5925 , SB6019 , SB6148 , SB6190 , SB6237 , SB6086 , SB5574 , SB5873 , SB5992 , SB5924 , SB6134 , SB6263 , SB5395 , SB6282 , SB5905 , SB6302 , SB5950 , SB6074 , SB6096 , SB5970 , SB5609 , SB5827 , SB5838 , SB5845 , SB5862 , SB5880 , SB5901 , SB5922 , SB5943 , SB5971 , SB5975 , SB5981 , SB5982 , SB5984 , SB5988 , SB5994 , SB6034 , SB6035 , SB6070 , SB6097 , SB6110 , SB6246 , SB6248 , SB6278 , SJM8016 , SB5496 , SB6054 , SB5835 , SB5907 , SB6031 , SB6155 , SB6158 , SB6227 , SB5947 , SB6247 , SB6085 , SB6234 , SB6274 , SB6194 , SB5909 , SB5868 , SB6026 , SB5974 , SB6044 , SB5906 , SB6081 , SB6239 , SB5923 , SB6323 , SB6210 , SB6045 , SB6106 , SB5346 , SB6089 , SB6170 , SB5954 , SB5968

Keywords: criminal offense, fingerprinting, law enforcement, state regulations, public safety, wildfire risk, disclosure, safety, environmental policy, risk assessment, overpayment recovery, modernization, health care, legislation, zero emission, cargo handling, port district, environmental impact, grant allocation, healthcare

Transcript Highlights:

• other with respect, all the principles that you would hope that we all, as human beings, would really endow
• 00:03:33.519><c> beings</c><00:03:33.959><c> would</c><00:03:34.599><c> really</c><00:03:35.000><c> endow
• </c> all as human beings would really endow all as human beings would really endow but<00:03:35.920><

Transcript Highlights:

• </c><00:05:58.720><c> by</c> by kings or governments, but endowed by by kings or governments, but endowed
• </c><05:34:44.400><c> for</c> for the National Endowment for for the National Endowment for Democracy
• </c> Endowment for Democracy supports Endowment for Democracy supports initiatives<05:39:30.798><c> for
• Luna. >> The National Endowment for Democracy needs to change its name to the National Endowment for
• </c><05:42:15.680><c> for</c> coming from the National Endowment for coming from the National Endowment

Bills: HB7006 , HR992

Keywords: appropriations, national security, foreign aid, transparency, democracy, House Resolution 992, H.Res. 992, HR 992, rule resolution, procedural rule, Rules Committee, Committee of the Whole, previous question, motion to recommit, waiver of points of order, closed rule, structured rule, FY2026 appropriations, consolidated appropriations, federal spending

Transcript Highlights:

• So, Janet, we, members of the board, are working with Janet on rolling out a soft endowment campaign.
• So, Janet, members of the board are working with Janet on rolling out a soft endowment campaign.
• ><00:53:20.559><c> our</c> understanding the need to grow our understanding the need to grow our endowment
• Right now it's only about $8 endowment.
• </c> Janet on rolling out a soft endowment Janet on rolling out a soft endowment campaign.<00:53:44.480

Summary: The Committee on Culture and the Arts held an informational briefing with representatives from ʻIolani Palace and Bishop Museum to discuss how the Legislature can better support state-funded cultural institutions during the interim and into the next session. Chair Capella said the goal was to understand current needs, preserve Hawaiian culture and history, and expand educational access. No votes or formal actions were taken during the briefing. ʻIolani Palace’s representative described the Friends of ʻIolani Palace’s role as the nonprofit supporting repair, restoration, maintenance, and public education for the state monument. She said state operational funding and ARPA funds were critical to keeping the palace open, maintaining HVAC and other systems, and funding repairs that would otherwise fall to DLNR. She highlighted ongoing and planned projects including a fire suppression system, HVAC improvements, basement exhibit work, plumbing repairs, elevator replacement, etched glass restoration, and school-tour access. She also noted that a prior $150,000 CIP for windows and doors had not yet been released, and said the organization is exploring ways to bring more neighbor island students to the palace through transportation support, airline partnerships, and digital outreach. Bishop Museum’s representatives outlined the museum’s history, its role as the state museum of natural and cultural history, and its extensive collections in archives, archaeology, botany, entomology, zoology, and cryopreservation. They emphasized the museum’s work in preservation, research, environmental stewardship, and public education, including free access through Museums for All, daily programming, and cultural festivals and community events. They said state funding has been essential for staffing, IT security, fire suppression, and infrastructure needs, and that digitization of the museum’s 25 million objects is a major ongoing initiative to preserve and share Hawaiʻi’s history and knowledge.

Transcript Highlights:

• It's only funded with non-P-98 general fund dollars, and the deposits function as principal in an endowment-style
• As principal in an endowment-style interest-bearing account.
• And it is a great honor to be able to share with you how the impact of the Educational Endowment Fund
• That's an example of how this endowment fund can make an impact for every single child in our country
• So it's like an endowment fund. So the interest only will be used for equalization purposes.

Summary: The Senate Committee on Elections and Constitutional Amendments heard several measures, beginning with SCA 5, which would create an Equalization Reserve Account to help reduce long-standing per-pupil funding disparities between basic aid and non-basic aid school districts. The author and supporters argued the measure would create a stable, endowment-style funding source using only interest earnings, while charter school advocates opposed it, saying the bill would exclude charters and could raise equal protection concerns. After the quorum was established, SCA 5 was approved and sent to Appropriations. The committee then heard SJR 18, a resolution condemning Citizens United and urging limits on corporate money in politics. The author argued that unlimited independent expenditures have increased corporate influence and dark money in elections, while there was little testimony in opposition. The resolution was approved and referred onward. The committee also considered two consent items, AB 1736 and AB 2421, which were approved together without debate. ACA 7 generated the most extensive discussion. The measure would revise the state constitution’s application of Proposition 209 in education, with supporters saying it would allow race-conscious tools to address persistent racial inequities in student outcomes and resource allocation, especially for Black students. Opponents argued it would weaken Proposition 209, invite discrimination, and likely fail politically and in court. After lengthy debate, the measure was approved and sent to Appropriations. The committee also approved ACA 18, which would add a second student voting seat on the UC Board of Regents, with supporters emphasizing student representation and opponents absent. Finally, AJR 29, opposing a federal executive order affecting vote-by-mail administration, was approved and sent onward. All measures on the agenda were ultimately advanced.

Transcript Highlights:

• The Legislature set aside 200 million dollars in a so-called taxpayer endowment fund.
• The state locks it away in another fund inside the capital and calls it an endowment or a benefit to
• The government always seems to have money to stash away, money to endow, money to reserve, money to hold
• rights,' right after taking 200 million of their money and locking it away in a so-called taxpayer endowment

Bills: SB1290 , SB1530 , SB1847 , HR1050 , SB169 , SB1377 , SB1990 , SB1991 , SB1778 , SB1579 , SB1992 , SB3 , SB2028 , SB1928 , SB2127 , SB2117 , SB1439 , SB1930 , SB330 , SB1191 , SB2110 , SB2134 , SB2069 , SB2095 , SB1613 , SB1246 , SB1976 , SB1346 , SB1509 , SB2071 , SB259 , SB1314

Keywords: 2-1-1 services, revolving fund, Department of Human Services, crisis pregnancy, abortion, legal funding, research funding, development rebate, Oklahoma Department of Commerce, tax incentives, higher education partnerships, Medicaid, ADvantage Waiver, home-based services, eligibility criteria, healthcare, senior services, Taiwan, Oklahoma, sister-state relationship

Transcript Highlights:

• The fund acts as an endowment fund created with the intent of eliminating state-imposed taxes.
• And they're using that, they're allowing their endowment funds to continue to create and build wealth
• American market crashes and gets destroyed, we have bigger problems than just what happens to our endowment
• Because most sovereign wealth funds or endowment funds use the model of 3% to 4%.

Committee: House Special Committee on Tax Reform

Transcript Highlights:

• so um what we are so house endowments so um what we are so house will<04:00:20.840><c> too</c><04:00
• This is Page 165, Community Conservation Endowment, in the dedicated funds handout.
• Oh, I thought it was the endowment. That's the other sources. Got it.
• </c><04:15:38.000><c> for</c> of money goes into an endowment for of money goes into an endowment for
• </c><04:16:53.479><c> that's</c> oh I thought it was the endowment that's oh I thought it was the endowment

Summary: The committee first heard from the Personnel Appeals Board, which explained that it became an independent state agency after Senate Bill 487 and was presenting its first standalone operating budget. The board described its quasi-judicial role in hearing appeals from classified state employees over disciplinary actions such as warnings, suspensions, and terminations, and said it handles about 25 to 35 cases a year, with some cases lasting longer because of their complexity. Members also outlined the need for a chair and vice chair who are attorneys, the board’s current staffing and space needs, and its plan to move away from reliance on Administrative Services for office support and website functions. The board requested about $353,500 for fiscal year 2026, including startup costs, routine operating expenses, and two new part-time positions: a program director and a paralegal. Members said the budget reflects the new independent status, includes funding for only four board members rather than the authorized five, and is designed to avoid full-time staffing costs and benefits. Legislators asked about the cost per case, the board’s relationship to DAS, whether appeals must go through the board before court, and how often cases are appealed further. The board said appeals must first go through it, that court appeals are infrequent but have increased recently, and that the board’s process is intended to resolve disputes more quickly and less expensively than court litigation. Committee members also asked about the board’s caseload, outcomes, and staffing. The board said that in the prior year there were 22 cases, with four decisions overturned in favor of employees, nine dismissals, and nine settlements, and that many disputes are resolved before reaching the board through a multi-step internal process. A member noted the governor and council had recently approved a new board member and were expected to approve a fifth soon. The discussion ended with questions about the board’s website and records access, which members said would need to be moved from Administrative Services as part of the agency’s transition. The committee then moved to the New Hampshire Council on Developmental Disabilities. The executive director explained that the council is 100 percent federally funded under the Developmental Disabilities Assistance and Bill of Rights Act and develops a five-year plan to address the needs of people with intellectual and developmental disabilities. She said the council works with state agencies and advocacy organizations on quality-of-life issues, accessibility, voter rights training, and plain-language or easy-to-read materials, and that 60 percent of its membership must be individuals with disabilities or family members/guardians. She also described the council’s funding structure, including reimbursement to the state for operating costs, and noted that it currently has three full-time and three part-time positions, with no new positions requested but one full-time position being eliminated and replaced after a pandemic-era staffing change did not work out as planned.

Transcript Highlights:

• There would be another, say, 13 to 15 percent from income off of our endowment.
• Are we giving y'all that kind of endowment?
• So think of what a similar endowment could do as an impact on healthcare.
• We don't have the deep endowments.
• So that endowment will be the answer to the needs that we have.

Bills: SB1 , SB 1

Committee: Senate Finance

Transcript Highlights:

• So for our endowment donors, we send out annually a list of their endowed fund and the payouts that was
• So for our endowment donors, we helpful.
• So for our endowment donors, we send<00:24:14.720><c> out</c><00:24:14.960><c> annually</c><00:24:15.760
• <00:24:17.240><c> their</c> send out annually list of uh their send out annually list of uh their endowed
• will write thank-you letters to the donors individually, and also for some of the other types of endowments

Committee: House Higher Education

Summary: The House Committee on Higher Education heard several Senate concurrent resolutions related to University of Hawaiʻi programs, audits, and workforce development. Testimony on SCR 50, which urged establishment of a Bachelor of Science in Nursing program at the Maui campus, was strongly supportive, with witnesses citing the state’s nursing shortage and Maui’s acute physician and nurse shortages. The committee later recommended passage with a technical HD1 amendment, and the measure was adopted unanimously by the members present. The committee also heard SCR 137, SCR 138, and SCR 142, all involving proposed audits. SCR 137 sought a performance audit of the University of Hawaiʻi Foundation; the Foundation opposed it, and the chair recommended deferral after noting the legislative auditor’s view that the office lacks jurisdiction over the private nonprofit. SCR 138 proposed a management and performance audit of the Office of the Vice President for Academic Strategy, and SCR 142 proposed an audit of the UH Mānoa athletics department. UH representatives provided comments on both, with athletics explaining existing NCAA-required financial audits, internal performance evaluations, and a strategic plan that includes self-review. The committee ultimately recommended passage of SCR 138 and SCR 142 with technical HD1 amendments. For SCR 192, which proposed a veterinary medicine expansion working group, UH and other witnesses discussed the idea of exploring a Doctor of Veterinary Medicine program, but the chair said a community college is not the appropriate venue for a doctoral program. The committee recommended substantial HD1 changes removing Windward Community College from the title and shifting the effort to the UH system level, adding the UH president or designee and a Hilo campus representative to the working group; the amended resolution was adopted. The committee also heard SCR 193, calling for community colleges to identify bachelor’s degree and workforce pathways aligned with regional needs, and SCR 203, which sought exploration of an Alzheimer’s disease research center and federal funding requirements; both drew supportive comments and no opposition. The meeting recessed briefly for lack of quorum, then reconvened for decision-making and adopted the chair’s recommendations on the measures considered.

Transcript Highlights:

• It also holds private institutions accountable by revealing foreign investments in their endowments.
• Division I champions, as the proud daughter of the late Coach Andrew Aul... investments in their endowments
• with the investments in their endowments with the current<00:21:30.480><c> Administration</c><00:21:
• for what purpose does the gentle lady for what purpose does the gentle lady from<02:13:57.800><c> Iowa
• </c><02:13:58.159><c> seek</c><02:13:58.520><c> recognition</c> from Iowa seek recognition from Iowa

Bills: HJR75

Keywords: HJR75, H.J.Res. 75, Congressional Review Act, CRA, Department of Energy, DOE, Energy Efficiency and Renewable Energy, energy conservation standards, commercial refrigerators, commercial freezers, refrigerator-freezers, appliance standards, energy efficiency, federal regulation, regulatory disapproval, small business compliance, manufacturers, commercial refrigeration, Public Law 119-9

Transcript Highlights:

• Next new section is for the Arts Endowment Fund under Department of State on page 23.
• This creates a new Arts Endowment Fund enabling language that says a special fund appropriation is established
• Next new section is for the Arts Endowment Fund under Department of State on page 23.
• This creates a new Arts Endowment Fund enabling language that says a special fund appropriation is established
• New section Diamond State Port Corporation; new section Arts Endowment Fund; new section Unclaimed Property

Committee: Joint Capital Improvement

Summary: The committee met to finalize the FY27 bond bill, beginning with a roll call and a detailed review of updated appropriation amounts. The Comptroller General walked through major changes across agencies, including additions for OMB, the Department of State, DNREC, Agriculture, Education, and Transportation, and explained the funding sources that would cover the total $1.256 billion package. Members then debated several large items, especially the $110 million appropriation for the Diamond State Port Corporation, the $35 million Legislative Hall addition, the $20 million Community Reinvestment Fund, and the $30 million land and building acquisition line. Questions focused on the port project’s costs, expected jobs, return on investment, and whether the state would face future commitments; Secretary of State Charney Patitofunded Chances and other officials testified that the port expansion would create construction and permanent jobs and support long-term economic growth, while some members remained skeptical and objected to the process and spending priorities. The committee also discussed school construction funding, with officials explaining that additional money would forward-fund projects already in the pipeline and help districts that had been turned down for certificates of necessity. Other items reviewed included funding for park improvements, marina acquisition, the Plummer Center demolition and transfer, the Pyle Center sewer project, the Site Readiness Fund, affordable housing, the Arts Endowment Fund, an unclaimed property task force, and various transportation and community transportation projects. Several members raised concerns about county distribution, minority-party involvement in negotiations, and the scale of certain appropriations, but the majority defended the package as statewide investment and economic development. The committee then voted on the Section 1 addendum and a series of new and replacement epilogue sections, including provisions for the port project, Legislative Hall minor capital improvements, land acquisition, affordable housing, the Community Reinvestment Fund, downtown development districts, the Rite Aid demolition, the Site Readiness Fund, school construction formula review, and enhanced school capital funding. Most motions carried, with a few recorded no votes or abstentions on the main addendum. The meeting concluded with a motion authorizing technical corrections by the Comptroller General’s office, followed by closing remarks thanking staff and members for their work and noting that this was likely the final bond committee meeting for some participants before adjournment.

Transcript Highlights:

• amends Idaho Code to increase the maximum allowable term for certain commercial leases on state endowment
• Doppie to the Idaho Endowment Fund Investment Board. The gubernatorial reappointment of Jerry L.
• Doppie to the Idaho Endowment Fund Investment Board, term April 11, 2025, to expire April 11, 2029.
• Doppie, I represent myself, here for my reappointment to the State Endowment Fund Board.
• Well, I've been on there for 10 years and really enjoyed myself, and that endowment fund does a really

Committee: Senate State Affairs

Transcript Highlights:

• Further, the endowments paid in past years are no longer sufficient to cover ongoing expenses.
• Further, the endowments paid in past years are no longer sufficient to cover ongoing expenses.
• First, it would formally define an abandoned endowment care cemetery.
• It would then establish a mechanism for a city, county, or city and county to declare an endowment care
• The bill's liability protections, authority to utilize endowment care funds, and compliance flexibility

Summary: The committee heard a long agenda of local government and housing-related bills, with testimony often centered on regional coordination, permitting reform, and local control. SB 802 by Senator Ashby would require Sacramento-area jurisdictions to form a joint powers authority to coordinate homelessness and housing response; supporters argued the region has long lacked accountability and coordination, while Sacramento County, Folsom, and others opposed the mandate as an unprecedented state-imposed JPA. The bill drew extensive support from local officials, business groups, service providers, and advocates, and opposition from county, city, and nonprofit representatives who said a local process was already underway. Committee members expressed support for the concept, but the bill was held pending a quorum and later discussed again with strong encouragement for regional collaboration. The committee also heard SB 222, SB 677, SB 908, SB 226, SB 828, and SB 1193. SB 222 would streamline permitting for residential heat pump and water heater installations; supporters said it would lower costs and speed clean-energy adoption, while local government groups argued the main barrier is upfront cost, not permits. SB 677 would curb what the author described as abusive appeals and delays in affordable housing approvals, with developers testifying about frivolous subdivision map appeals and TEFRA hearing delays; the California Native Plant Society sought an amendment to preserve appeals on habitat lands. SB 908 would simplify permits for energy-code-compliant window replacements, and SB 226 would clarify financing authority for a West Sacramento baseball stadium proposal; both passed unanimously. SB 828, prompted by the Esparto fireworks warehouse explosion, would tighten fireworks storage and licensing rules, expand inspection and seizure authority, and increase fines; it also passed unanimously after testimony from fire officials and a pyrotechnic operator who opposed it unless amended. SB 1193, a county-specific Alameda County transparency bill, generated the sharpest debate. The author argued it would prevent waste, favoritism, and conflicts of interest in discretionary spending by requiring board approval, a public spending log, and clearer whistleblower procedures. Alameda County and county associations opposed it as overly broad and burdensome, saying existing processes already provide transparency and that the bill would reduce flexibility during fiscal stress. After committee questions about the bill’s purpose and the county’s current practices, the measure passed 7-0, with the author indicating willingness to accept an amendment restoring a four-fifths vote threshold. The committee then moved out of order to SB 1090, which would impose a temporary moratorium on state housing density laws in Altadena through 2030 in response to post-fire displacement concerns. The author said the bill is intended to protect long-term residents from investor-driven redevelopment after the Eaton Fire, while acknowledging amendments to align the moratorium with affordable housing development timelines. The transcript cuts off during the presentation of this bill, so no final action is shown for SB 1090 in the excerpt.

Transcript Highlights:

• You can see how our endowment numbers—these are new endowments that support scholarships and programs
• You can see how our endowment numbers, these are new endowments that support scholarships and programs
• The next bullet there are 25—it's actually 27 new endowments. We've set up two...
• The next bullet there are 25—it's actually 27 new endowments.
• chairs or endowed faculty positions. ...and endowed chairs or endowed faculty positions to take some

Summary: The committee met on the Minot State campus for a presentation from President Shirley and several university leaders on enrollment, academics, workforce initiatives, and partnerships. Shirley reviewed the university’s financial audits, noting mostly clean results with only minor technical findings in recent years, and highlighted Minot State’s major programs, specialized accreditations, and ties to Minot Air Force Base and NCAA Division II athletics. Members asked about education workforce shortages, athletic tuition waivers, dual credit incentives, and the university’s in-state tuition policy for all students. Shirley also discussed the university’s recruitment efforts, including the Hometown Pride and Academic Excellence scholarships, campus visit growth, and the Emerging Scholars dual-credit reimbursement program. A major focus was workforce development and new academic offerings supported by legislative Workforce Education Innovation Funds. Shirley described the new Innovation Engineering program, which was developed with industry input to train broadly skilled engineers for western North Dakota, and said it had already drawn more applicants than expected. Dr. Crystal St. Peter presented a new master’s program in counseling that integrates mental health and addiction counseling to address statewide provider shortages, with a hybrid format to reach rural students. Members asked about licensure requirements, internship hours, and job placement for graduates. Shirley also outlined a new nursing simulation center and health sciences space in downtown Minot, made possible by state support and the purchase of the former Trinity Health Center West building. The committee also heard about Minot State’s efforts to build pipelines into education and special education, including the Aspire program for rural high school students and an online paraprofessional-to-special-education degree pathway. Shirley said these programs, along with new articulation agreements and a large Bush Foundation grant, are intended to address teacher shortages and keep students in North Dakota. No formal committee votes or actions were taken during the presentation; the session consisted of informational updates and member questions.

Transcript Highlights:

• The fund acts as an endowment fund created with the intent of eliminating state-imposed taxes.
• They're using that, they're allowing their endowment funds to continue to create and build wealth for
• American market crashes and gets destroyed, we have bigger problems than just what happens to our endowment
• Because most sovereign wealth funds or endowment funds use the model of 3% to 4%.

Committee: House Special Committee on Tax Reform

Summary: The committee first heard House Bill 2923, which would give homeowners a temporary property tax exemption of up to four years on qualifying home improvements between $7,500 and $75,000, so long as the property is the owner’s homestead and the required intent and completion forms are filed. The sponsor said the bill is meant to encourage reinvestment in homes, including after catastrophic events, and said the fiscal note showed no impact. Members asked about the bill’s effect on assessors, taxing districts, school districts, the definition of homestead, and whether the state would reimburse lost revenue. Testimony in support argued the bill would reduce ambiguity in new-construction assessments, encourage repairs and improvements, and help homeowners avoid being penalized for fixing damaged homes. Concerns were raised about routine maintenance, the four-dwelling language, possible burdens on assessors, and whether the bill could affect senior tax freezes. The hearing on HB 2923 ended without a vote. The committee then went into executive session on House Bill 3256, adopted a committee substitute, and voted the substitute do pass by a roll call of five yes and one no. Discussion focused on criminal penalties in the bill, with the ranking member objecting to those provisions and noting that other states do not include them. The sponsor explained changes in the substitute, including broader retail-establishment language, explicit coverage of sports venues and concert halls, and removal of banks and credit unions from the bill. Members suggested further floor amendments and additional review of other states’ statutes. Finally, the committee heard Senate Joint Resolution 95, which would create the Show Me Prosperity Fund as a constitutional endowment intended to eventually replace all state-imposed taxes with investment earnings. The senator said the fund would be seeded by a one-time appropriation, managed by the treasurer, audited by the auditor, and protected from borrowing or diversion, with distributions capped at 3 percent. Supporters said the proposal would use compound growth to create long-term tax relief and eventually make Missouri the first state to eliminate state taxes; one witness called it straightforward and honest. Members questioned the size of the needed appropriation, how the fund would work if state income tax changes separately, whether state law allows the needed investments, and how the fund would avoid becoming unstable if distributions begin before it is large enough. No opposition testimony was offered, and the hearing concluded without action on SJR 95.

Transcript Highlights:

• Finally, the endowment. You have our heartfelt gratitude for including in the base.
• The endowment for infrastructure. Thank you very much.

Committee: House Appropriations - S/C on Article III