Transcript Highlights:

• So, as you noted, the Distressed Hospital Loan Program, that is a loan program.
• But the trust hospital loan program had a bit more of a The trust hospital loan program had a bit more
• Is it the loan payments? What is it?
• hospital loan program.
• So the $300 million loan is interest free. There's no— I'm not talking about interest-free loan.

Summary: The committee heard AB 108, a budget bill junior that would amend the 2025 Budget Act to create a one-time $25 million General Fund grant program at HCAI for hospitals in immediate and significant financial distress, along with a technical change related to property tax deferments for eligible low-income seniors. Finance explained that eligible hospitals would need to show less than 10 days cash on hand, best efforts to exhaust other financing options, a payer mix of more than 50% government payers and uninsured patients, and nonprofit status, with expedited contracting and rulemaking exemptions so funds could be distributed quickly. Members repeatedly questioned whether $25 million was enough, how many hospitals would qualify, and whether the 10-day threshold was too narrow, while also raising broader concerns about hospital reimbursement rates, seismic compliance costs, federal policy changes, and the need for more up-to-date data and a longer-term solution. Several members and the LAO noted that the bill was intended as a short-term bridge to keep a very small number of hospitals open until July 1, while the larger distressed-hospital discussion would continue in the May Revision and next year’s budget. Some members argued the state should consider grants rather than loans more broadly, and others emphasized that hospitals serving Medi-Cal and uninsured patients, including safety-net facilities like MLK Community Hospital and Children’s Hospital Los Angeles, face structural pressures. Public comment was uniformly supportive of the bill, with the California Hospital Association, district hospital representatives, counties, and CHLA all backing the proposal and urging additional funding for distressed hospitals in the coming budget. The committee approved AB 108 on a roll call vote of 18-0 and held the roll open briefly to secure remaining votes before formally reporting the bill out.

Transcript Highlights:

• </c> own credit card or get a loan at 18. own credit card or get a loan at 18.
• </c> loan um sector specifically. loan um sector specifically.
• </c> longer qualify for loan forgiveness. longer qualify for loan forgiveness.
• </c> student loan deferment or Senator Mc. student loan deferment or Senator Mc.
• of graduate plus loans, and the changes to student loan repayment options.

Transcript Highlights:

• Then we underwrite the loan.
• Then we underwrite the loan.
• </c><00:48:04.400><c> is</c> by our loan committee then the loan is by our loan committee then the loan
• the loan program and starting a the loan the loan program and starting a business<01:31:07.679><c> and
• </c> to collect on on those loans? to collect on on those loans?

Committee: House Workforce, Labor, and Economic Development Finance and Policy

Transcript Highlights:

• In addition to his work as a loan officer, Mr.
• Second, the FSA loan guarantee program allows lenders to make loans to farmers who may not qualify for
• That carries over when it's time to go get a loan.
• into direct loans.
• limits for USDA loan programs.

Committee: Senate Agriculture, Nutrition, and Forestry Committee

Keywords: farm bill, rural economy, crop insurance, access to credit, young farmers, USDA funding freeze, agricultural policy, risk management

Summary: The meeting of the agricultural committee focused on significant concerns regarding the current state of America's rural economy, highlighting the need for a strong five-year farm bill to address the challenges faced by farmers, particularly young and beginning farmers. Key testimony was given by multiple stakeholders including agricultural leaders and young farmers, emphasizing issues related to crop insurance, access to credit, and the adverse impact of recent USDA funding freezes. Various members discussed the necessity of risk management tools that farmers rely on to secure financing, which is crucial for sustaining agricultural operations and supporting rural communities. The importance of timely legislative action was underscored, as many farmers reported struggles in the current economic climate, raising urgency for reforms within the Farm Bill framework.

Transcript Highlights:

• So we made one loan.
• The loans can be prepaid, so there is no prepayment penalty for paying off the loans.
• Be tracking are loan payments, project milestones, success of the underlying loan, because that's what
• To take on a loan.
• Madam Chair, we did a $50,000 loan in 2006, and now we know we've done about a $1.5 million loan.

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• Thank you, Senator Thomas. federal PPP loan or or something that uh federal PPP loan or or something
• So the floor is yours and go ahead. uh items and water and loan and four uh items and water and loan
• The base loan will be a 30-year loan with a 1% interest rate.
• be a 30-year loan The base loan will be a 30-year loan with<00:43:21.920><c> a</c><00:43:22.079><c>
• The base loan will be a 20-year loan with a 1.75% interest rate.

Summary: The committee first handled routine business, including a roll call, approval of the prior meeting minutes, and a set of informational reports. Those reports covered University of Louisville research equipment purchases, a Kent County school district debt issue for elementary school renovations, the University of Kentucky’s planned use of construction management risk for a new engineering building, APA certification reports for underwriter and bond counsel selection committees, and a KCNA status report on infrastructure upgrades and purchases. The main presentation was an informational update from the Louisville Arena Authority. Board representatives said the arena was created to drive economic development and reported about $1.4 billion in economic impact from 2010 to 2013. They explained the authority’s financial structure, including arena operating revenues, TIF revenues, debt service, and a long-term capital plan for major repairs and replacements. Members questioned the low net revenue figures, the long timeline before TIF revenues are projected to exceed debt service, the size of capital expenditure spikes, and the University of Louisville revenue-sharing arrangement. The authority said the $2.42 million annual UL payment is fixed under a 2017 refinancing agreement, while other amounts vary with ticket sales and related revenues. They also said the COVID-era state and Metro funds, combined with authority cash, were used to prepay debt and reduce interest, lowering the debt service schedule. The committee then considered and approved a new capital project for a new HVAC system for the student wellness center pool area. The project, presented by university staff, was approved by the board and required committee action. The committee took a roll call vote, and the project passed unanimously. Finally, Janice Thomas of the state budget office presented two tourism, arts, and heritage cabinet grid resilience projects at Kincaid Lake State Resort Park and Kentucky Down Village State Resort Park. Each project costs $7,834,600 and is funded mostly by a federal grid resilience grant, with the remainder from state utility infrastructure replacement funds and energy policy funds. Staff explained that the projects will move park electrical service ownership and maintenance to regional utilities, allowing the state to exit the infrastructure-management role while continuing to pay utility bills through normal metering. The committee approved the action item by voice vote.

Transcript Highlights:

• When I joined in September of 2000, we had made only 50 loans between 1992, September of 2000, 50 loans
• those loans.
• We buy a lot of school bonds, water system loans.
• an actual loan payment.
• and the loans?

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• We loan out money, we get it back, we loan it out again.
• the close of those loans.
• Once those neglo loans are those loans.
• </c> door once the loans are repaid. door once the loans are repaid.
• So, um, are you making loans to entities that can't get loans from any other?

Bills: HF2986 , HF3555

Committee: House Energy Finance and Policy

Transcript Highlights:

• It's a loan. The industry payday. It's a loan.
• And loan EWA and payday loan use.
• </c> loans to $100 and allows multiple loans loans to $100 and allows multiple loans a<01:10:42.000><
• Um, paying $50 a week in fees on their loans. Um, and I had to take out loans on loans.
• Um and I had to take out loans on loans.

Bills: HF2400 , HF1724 , HF3437 , HF4333 , HF2874 , HF4052

Committee: House Commerce Finance and Policy

Keywords: real estate, appraisers, disciplinary actions, sanction matrix, Minnesota Statutes, direct primary care, healthcare agreements, medical services, patient care, health insurance, mortgage fees, residential loans, commercial loans, finance regulations, investment properties, insurance, supplemental health insurance, short-term care, home health care, nursing care

Transcript Highlights:

• Loan program and<00:29:09.600><c> the</c><00:29:09.720><c> condominium</c><00:29:10.279><c> Loan</c>
• concerns with those loans.
• </c><00:31:17.240><c> I</c> cacer loans and if it's cacer loans I cacer loans and if it's cacer loans
• for traditional commercial loans.
• There's been numerous lawsuits regarding PACE loans, and I believe C-PACE loans also.

Committee: Senate Commerce and Consumer Protection

Summary: The committee opened by outlining testimony procedures and then heard SB 376 on tax credits, which would create a home fire safety improvement tax credit. Testimony from the Tax Foundation of Hawaiʻi urged that the concept would be better handled as a subsidy program and raised drafting concerns about unclear definitions and eligibility. Later, the committees agreed to pass SB 376 with amendments, including making the credit nonrefundable, clarifying third-party certification, deleting recapture-related language, and making technical changes. Members then heard SB 417, which would make unlicensed contractor work during or within five years after an emergency or disaster a class B felony. The Contractors License Board was listed for comments, and the Subcontractors Association supported the measure. The committees ultimately recommended passage with technical, non-substantive amendments and an adjusted effective date, and the measure was adopted. A substantial portion of the meeting focused on SB 782, which would require free and accessible voice communication services for incarcerated people and prohibit state agencies from profiting from those services, while also directing the PUC to set standards and providing funding for the SAVIN victim notification program. Supporters, including the Public Defender, ACLU of Hawaiʻi, Worth Rises, and others, argued the bill would reduce costs for families, improve reentry, and align adult corrections with the juvenile system. Opponents, including the Department of Corrections and Rehabilitation, the Hawaiʻi Paroling Authority, and SAVIN-related witnesses, warned that changing the funding structure could weaken victim notification and safety services. The committees deferred SB 782. The committee also heard SB 999 on fireworks, which would repeal permissible consumer fireworks uses, impose civil penalties and forfeiture remedies, and create a forfeiture special fund for safety education. The Department of Law Enforcement and Honolulu Police Department supported the bill, while fireworks industry representatives and others opposed it, arguing prohibition would be ineffective and urging stronger enforcement and education instead. The committees deferred SB 999 for further consideration, and SB 1136 on insurance was also deferred after insurers and the Department of Commerce and Consumer Affairs opposed it. In the later joint session with the Committee on Economic Development and Tourism, SB 744 on condominium loans was heard with support from the Hawaii Green Infrastructure Authority and banking groups, while one testifier raised concerns that the program could function like C-PACE financing and add risky debt to condominium associations; testimony and discussion continued on that measure.

Transcript Highlights:

• So allowing them to use longer-term TIFIA loans... increased costs.
• So does Sound Transit plan on doing a five-year deferment on this loan?
• So under the loans, they let you pay off all bondholders first.
• So TIFIA loan, Sound Transit currently can only borrow 33% of the project for a TIFIA loan.
• So TIFIA loan, Sound Transit currently can only borrow 33% of the project for a TIFIA loan.

Bills: SB6148

Committee: House Transportation

Keywords: regional transit authority, RTA, transit bonds, general obligation bonds, revenue bonds, bond maturity, debt limit, 25-year cap, regional mobility grant program, public transit financing, transportation funding, Washington RCW, bond issuance, municipal finance, infrastructure finance

Transcript Highlights:

• The details of the loan are that CalSTA is required to loan up to this $590 million amount to the Metropolitan
• It is a 12-year loan term with the first two-year loan... Program, or TIRCP.
• It is a loan, not a bailout. There have been needs identified.
• Why in particular are we doing it here specifically for this loan?
• Hence, the important aspect of this being a net-neutral loan.

Committee: House Budget

Transcript Highlights:

• </c> happens when a borrower um when a loan happens when a borrower um when a loan is<00:10:36.079><c
• And it could be something where um loan.
• </c> by and tack it on to the end of the loan by and tack it on to the end of the loan or<00:10:50.480
• ,</c><00:10:51.920><c> lower</c> or stretch it out over the loan, lower or stretch it out over the loan
• Mortgages are expensive loans to lose.

Bills: SF0114 , SF0102 , SF0117

Committee: House Corporations, Elections & Political Subdivisions

Transcript Highlights:

• But again, try to put the cost and saying it's, oh, it's a low-interest loan. It's still a loan.
• </c> for a loan. for a loan.
• But again, try to put the cost and saying it's, oh, it's a low-interest loan. It's still a loan.
• But again, try to put the cost and saying it's, oh, it's a low-interest loan. It's still a loan.
• Chair votes I, I vote I. ...it's, oh, it's a low-interest loan. It's still a loan.

Bills: HB1618

Committee: Senate Agriculture and Environment

Summary: The committees held a joint hearing on HB 1618 HD1, which would create and fund a cesspool conversion revolving loan fund administered by the Hawaii Green Infrastructure Authority to help homeowners upgrade, convert, or connect cesspools. Testimony was overwhelmingly in support from state agencies and advocacy groups, with witnesses emphasizing that cost is the main barrier to cesspool conversion and that recent Kona flooding underscored the public health and pollution risks of cesspools. One testifier suggested the fund should actively pursue outside funding sources, and another urged an effective date that would allow counties to contribute sooner. A member raised concerns about whether loans would be affordable and whether other financing tools, such as tax credits, should also be considered; another member opposed the bill as not adequately addressing district-level sewer and septic issues. The committees ultimately recommended passage with amendments, including changing the effective date to July 1, 2050, and the motion was adopted. The joint Judiciary and Ways and Means committees then considered HB 2592 on the Mauna Kea Stewardship and Oversight Authority. The chair outlined amendments to clarify that the authority would assume property and liability associated with transferred assets, preserve existing liability rules, transfer conditional use permits if not already transferred, allow lease extensions before transfer, and set reversion triggers if the authority fails to adopt a management plan by June 30, 2028, or administrative rules by December 31, 2029. Members asked about preserving the public trust and whether the amendments would keep the Board of Land and Natural Resources’ role intact; the chair confirmed the fee and board role would remain unchanged. The committees voted to pass the bill with amendments, and the recommendation was adopted. The committees also took up HB 2033, making further amendments to clarify the definition of state, delay certain effective dates, allow rental and U-Drive lessors to avoid liability by identifying renters, delete one section, and add administrative hearing language and bus-camera clarifications. HB 1888 was amended to expand protections for educational workers to include sports officials, define sports official, make intentional bodily harm a felony with enhanced penalties for repeat offenses, and authorize the attorney general to assist with restraining orders. Both measures were recommended for passage with amendments and adopted. Later, several bills were moved with little or no discussion: HB 1515, HB 1713, HB 1718, HB 2022, and HB 2385 were recommended for passage unamended; HB 2375 was deferred; and HB 1741 was amended to reflect Honolulu’s concerns, narrow study requirements, add exemptions and a delayed implementation date, and was recommended for passage with amendments. The committees adopted the recommendations on these measures, with some members noting reservations or prior opposition on certain bills.

Transcript Highlights:

• And ultimately, most of those are occurring as both a grant and a loan: 90% grant, 10% loan for all the
• It can't exceed more than 10% of the loan. On an equipment loan, it can be 100%.
• So we have Just a couple of loans.
• We've made 20 loans. We've made three loans from that over time, totaling about $12.5 million.
• We actually identified the Child Care Revolving Loan Fund because we'd only made one loan of $50,000,

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• </c><00:08:46.320><c> debt</c> that supports student loan debt that supports student loan debt Counseling
• </c><00:26:35.279><c> repayment</c> it works like um other loan repayment it works like um other loan
• They um from... provides loan repayment for provides loan repayment for um<00:31:58.679><c> public</c
• So, the largest loan repayment program that we administer is the shortage loan repayment program.
• </c> program this program provides loan program this program provides loan repayment<00:47:15.720><c>

Committee: House Higher Education Finance and Policy

Transcript Highlights:

• Is this being thought of as a 0% loan or what kind of loan are we talking about? Talking about?
• For those who would have loans with interest associated with whatever loans they already took out.
• Be the entity paying the current loan regardless of the loan, if it's a private loan, a parent loan,
• a student loan, any kind of loan?
• We had combined one of our loans. We had a parent loan.

Transcript Highlights:

• And so it may be working with them to decrease the loan size, which then obviously decreases the loan
• the nature of those loans, is, I think, very commendable.
• , given the nature of those loans, right around 2%, which, given the nature of those loans, is, I think
• You do track loan activity by region or by county, right? Yes.
• , and we guarantee those loans.

Committee: Senate Rules

Transcript Highlights:

• Is it a loan?
• The payoff of that loan will end in June, and so we won't be pulling any money off of this loan until
• This loan, this specific $4.7 million, what are you using those loan proceeds for?
• The payoff of that loan will.
• This loan, this specific $4.7 million, what are you using those loan proceeds for?

Committee: All ALC-PEER

Summary: The committee met with a quorum, opened with a prayer recognizing the death of Reverend Jesse Jackson, and then worked through a series of appropriation and transfer requests. In Section B, it approved a $273,000 temporary appropriation for the Department of Labor and Licensing. In Section C, it approved two Infrastructure Investment and Jobs Act requests: $280 million for the Department of Transportation and $195 million for the State Broadband Office to support Arkansas BEAD broadband grants, including an extra help position. Members questioned the broadband awards, provider amendments, buildout timelines, accountability, and the status of unawarded locations; the broadband director said no provider had requested speed changes, awards would be monitored with milestone-based payments, and remaining locations would be addressed later as federal guidance is received. The committee also approved transfers in Section D, including $458,000 for the Department of Correction, $25 million for Department of Education programs such as declining enrollment and teacher incentive funding, and $229,000 for Shared Administrative Services project management support. In Section E, the committee considered a $4.7 million budget stabilization trust fund loan for the Office of State Technology to implement ServiceNow and related IT modernization, cybersecurity, and governance tools. Members pressed agency officials on repayment, cost savings, and whether the loan would simply roll over existing costs; officials said repayment would come through agency rates over a five-year period and that the new payment would be lower than the current loan being retired. The committee voted to give favorable advice to the Governor on the loan request. In Section F, the committee reviewed cash fund requests for wage and hour claims, unclaimed property, and a heritage grant; in Section G, it reviewed a $1.1 million federal grant to expand college and career coaching in rural districts; in Section H, it reviewed pay plan and performance fund requests totaling millions across multiple agencies; and in Section I, it reviewed budget manual formatting changes. The latter part of the meeting focused on reports, especially the Medicaid trust fund. DHS and DFA officials reported the fund balance had declined from prior years and was down to about $394 million after seven months, with further decline expected by year-end. Senators and representatives asked about the appropriate reserve level, the impact of pending Medicaid rules and legislation, FMAP changes, and whether additional funding would be needed in the upcoming budget. Officials said projections are updated regularly, more than 10 rule packages remain pending with CMS, and the governor and legislative leaders will discuss additional capital needs during budget development. Members also discussed the importance of balancing Medicaid spending with new federal funding and maintaining flexibility for critical areas such as labor and delivery. The committee then adjourned without further action on the reports.

Transcript Highlights:

• and the nurse loans?
• Most loan recipients continue to experience Payments on their loan.
• And how does that impact future loans? So it does mean that we're not getting the loans repaid.
• How does that impact future loans? So it does mean that we're not getting the loans repaid.
• So it does mean that we're not getting the loans repaid.