Transcript Highlights:

• If the client is a financial institution or a mortgage lender, then its immediate successor in interest
• is included if the report is transferred to another lender.
• appraisal report to any person other than those three categories of clients, intended users, and lenders
• they want to up to the fire code, but they're not allowed to go into the theater because there's this cap
• staff could bring up the standing committee report form and call the roll when ready. there's this cap

Bills: HB2477 , HB2501 , HB2465 , HB2512 , HB2240 , HB2624 , HB2536 , HB2476

Committee: House Consumer Protection & Business

Keywords: real estate, appraisal, consumer protection, business operations, regulatory compliance, HB 2501, real estate disclosure, seller disclosure notice, residential property, home heating oil tank, oil tank insurance, pollution liability insurance agency, PLIA, heating oil contamination, remediation assistance, Washington real estate, property sale, buyer disclosure, seller obligations, oil heat

Transcript Highlights:

• Homebuilders have told us that lenders and investors, I think as we've heard from the other presenter
• There was a cap of 50% on accessory dwelling units. There was also a cap on co-living units.
• There was also a cap on co-living units.
• I think the cap is, forgive me, because my head is so fuzzy, I think it's about $2 million.
• There really isn't a share loan lender that is actively involved and eager to keep going.

Committee: Senate Housing

Summary: The committee heard presentations on several housing finance and permitting tools. Chattanooga described its payment-in-lieu-of-taxes (PILOT) affordable housing program, which ties property tax abatements to the number and affordability level of units provided, using a calculator based on market rents and HUD affordability levels. Senators asked about the 15-year term, auditing, and whether the program was attracting private market-rate developers; the presenter said the first mixed-income project would include 278 units with 42 affordable units and that annual compliance monitoring is conducted. Shoreline then described its MFTE and inclusionary housing approach, emphasizing that longer 20-year exemptions helped make projects pencil out and that most recent development has clustered around light rail station areas; city staff said they will study whether the program should be adjusted further and noted the importance of the new state inclusionary housing law. The Department of Commerce and MRSC discussed tax increment financing, proportional impact fees, and the CHIP program. Commerce explained that TIF can fund public improvements such as roads, utilities, parks, broadband, and some affordable housing or child care facilities, but jurisdictions should only use it when development is likely to occur and the public benefit justifies the investment. On impact fees, Commerce said fees should be proportional to the actual infrastructure demand of a project and based on capital facility plans; it also noted that fee reductions for affordable housing must be backfilled through CHIP. Senators asked for more information on CHIP funding levels, project selection, and how much of it supports affordable housing. Commerce also presented the first annual permit-timelines report under the 2023 permitting reforms, saying 2024 data showed timelines still exceeding statutory goals and that future reports will examine factors such as paper versus electronic processing and local reform efforts. Auburn and Bellevue highlighted local permitting innovations. Auburn said it has moved to fully electronic review, uses MyBuildingPermit.com, has internal performance standards, and offers a stock-plan program that can cut later review to about a week; staff said most stamped plans still require at least two review cycles and that the city is watching how middle-housing code changes affect development. Bellevue described a pilot with GovStream AI to use artificial intelligence for pre-application assistance, document triage, and plan-review support, with the goal of reducing back-and-forth and improving application quality. Finally, Seattle presented a pilot for accessory dwelling unit co-development in which a mission-driven partner would finance, build, and manage backyard ADUs for homeowners, with the owner eventually buying out the partner; senators raised questions about rent-setting, management fees, liability, and what happens if a homeowner sells early. The committee also heard from community land trust representatives, who explained how ground leases and resale restrictions keep homes permanently affordable and allow public subsidies to serve multiple generations.

Transcript Highlights:

• According to Nixon Peabody, premiums and deductibles for policies required by mortgage lenders and governmental
• It encourages faster payouts and requires mortgage lenders to inform homeowners about their procedures
• Faster payouts and requires mortgage lenders to inform homeowners about their procedures, which would
• The National Flood Insurance Program caps coverage at $250,000 for single-family homes and condos, even
• though we know the cost to rebuild would far exceed that cap.

Committee: Joint Joint Committee on Financial Services

Summary: The Joint Committee on Financial Services heard testimony on a wide range of insurance-related bills, with much of the discussion focused on affordable housing insurance, homeowners insurance practices, climate resilience, and consumer protections after property losses. Senators and representatives testified in support of a resolve to create a commission on affordable housing insurance (S. 768/H. 1279), arguing that rising premiums and deductibles are threatening the viability of affordable housing properties and new development. Supporters also backed bills to establish private flood insurance standards (S. 719), create climate-resilient home retrofit grants (S. 720), expand the MVP climate resilience program (H. 1310/S. 686), and protect urban trees and limit insurer-driven tree removals (H. 1316). Several lawmakers and advocates said these measures would help reduce risk, preserve insurability, and address the effects of increasingly severe storms and flooding. The committee also heard testimony on bills addressing insurer use of aerial imagery (H. 1242/H. 2142) and notice periods for nonrenewals or repairs (H. 4042 and related measures). Supporters said insurers should be allowed to use drones and satellite images but with stronger guardrails, including current photos, disclosure of risk factors, an appeals process, and time to cure defects. They argued that homeowners are sometimes blindsided by nonrenewals based on inaccurate aerial photos or given too little time to make repairs. Opponents from the insurance industry said aerial imagery is already regulated by the Division of Insurance, that additional statutory requirements could create confusion and litigation, and that existing notice rules already provide 45 days for nonrenewals and 60-day limits on cancellations. Industry witnesses also warned that some proposed timelines conflict with current law and could restrict useful underwriting tools. Another major topic was H. 1077, which would restrict solicitation by restoration companies and public adjusters at fire scenes. A homeowner described being approached immediately after a house fire by restoration and public-adjuster representatives and said the experience was intrusive and overwhelming; supporters said homeowners need time and space to make informed decisions after a disaster. Public adjusters and restoration contractors opposed the bill, saying they provide needed guidance, emergency mitigation, and claims assistance when homeowners are under stress, and that some existing protections already allow consumers to cancel contracts. The hearing ended after all listed witnesses testified, and the committee voted to close the hearing; no bill dispositions were taken during the session.

Transcript Highlights:

• insurance companies, and so I have some testimony related to more general financial discrimination by lenders
• So that means lenders can freely discriminate against political and religious groups. groups.
• reason other than failing to meet impartial and non-subjective objective standards established by the lender
• Lenders viewed residents of these neighborhoods as hazardous or too risky and would not issue them home
• To paraphrase a small cap, they said, "It ain't cheap."

Bills: SB312 , SB945 , SB946 , SB1367 , SB1861 , SB2044 , SB2337 , SB2403 , SB2819 , SJR54

Committee: Senate State Affairs

Transcript Highlights:

• The amount we have to raise is greater than our market cap.
• </c><00:18:48.240><c> asking</c> greater than our market cap asking greater than our market cap asking
• lenders are hesitant which could result lenders are hesitant which could result in<00:50:48.200><c> Project
• We're going to remove the caps on aggregate liability.
• We're going to remove the caps on aggregate liability.

Committee: Senate Commerce and Consumer Protection

Summary: The joint Senate hearing focused primarily on SB 1201, a wildfire measure that would create a wildfire recovery fund and allow securitization for electric utilities. Hawaiian Electric strongly supported the bill, saying it would help protect customers, property owners, insurers, and the broader economy from future catastrophic wildfire liability while improving the utility’s credit profile and lowering financing costs. Support also came from DCCA Consumer Advocacy, the Attorney General’s office on written comments, Ulupono Initiative, Clearway Energy Group, IBEW Local 1260, Par Hawaii, KIUC, the Chamber of Commerce Hawaiʻi, Plus Power, and numerous organizations and individuals. Opponents or commenters raised concerns about the liability cap, victim compensation process, and fund structure, including the Hawaiʻi Association for Justice, the Hawaiʻi Regional Council of Carpenters, and the Hawaiʻi Insurance Council; Henry Curtis of Life of the Land supported the concept of a fund but questioned the catastrophe threshold and whether the fund would be empty without a prudency finding. Much of the discussion centered on whether the proposed fund would actually help restore Hawaiian Electric to investment grade, with senators comparing the proposal to California’s wildfire fund. Hawaiian Electric said the bill was only one part of a broader process, alongside physical risk reduction and settlement finalization, and argued that without the bill the utility would not regain investment grade. Senators also questioned the proposed $1 billion fund size, the fairness of ratepayer contributions versus shareholder contributions, and whether customers should pay for consulting and administrative costs; Hawaiian Electric said its proposed amendment would remove those consulting-related charges. The company also said the fund would accrue interest and, if unused, could be returned to customers, and that there would be replenishment and supplemental contribution mechanisms if the fund were exhausted. The Attorney General’s office said it still had further amendments to discuss, and the departments had not yet resolved where the fund should reside administratively, though Hawaiian Electric said it believed DCCA was the appropriate place but was open to alternatives. KIUC requested two amendments. No vote or final committee action was taken during the hearing, and the measure remained under discussion with questions and proposed amendments still outstanding.

Bills: HB407 , HB871 , HB882 , HB2011 , HB3572 , HB3578 , HB4038 , HB4866 , HB4897 , HB4978 , HB5380 , HB5555 , HB5668 , HB5670 , HB5674 , HB5676 , HB5679 , HB5688 , SB673

Committee: House Land & Resource Management

Keywords: solar energy, residential construction, building code, municipal regulations, energy compliance, building codes, interconnection, education, funding, teacher support, student resources, school infrastructure, municipal requirements, environmental sustainability, municipalities, construction, agricultural operation, International Code Council, county regulations, construction fees

Bills: HB407 , HB871 , HB882 , HB2011 , HB3572 , HB3578 , HB4038 , HB4866 , HB4897 , HB4978 , HB5380 , HB5555 , HB5668 , HB5670 , HB5674 , HB5676 , HB5679 , HB5688 , SB673

Committee: House Land & Resource Management

Keywords: solar energy, residential construction, building code, municipal regulations, energy compliance, building codes, interconnection, education, funding, teacher support, student resources, school infrastructure, municipal requirements, environmental sustainability, municipalities, construction, agricultural operation, International Code Council, county regulations, construction fees

Bills: HB207 , HB235 , HB324 , HB449 , HB463 , HB502 , HB 1121 , HB1445 , HB1465 , HB1778 , HB1977 , HB2000 , HB2066 , HB2596 , HB207 , HB235

Committee: House Criminal Jurisprudence

Keywords: child protection, sexual offenses, obscenity laws, visual material, anatomically correct dolls, mannequins, robots, criminal offenses, sexually explicit material, minors, artificial intelligence, sexually explicit, doll, mannequin, robot, law enforcement, healthcare, insurance, affordable care, access

Bills: HB207 , HB235 , HB324 , HB449 , HB463 , HB502 , HB 1121 , HB1445 , HB1465 , HB1778 , HB1977 , HB2000 , HB2066 , HB2596 , HB207 , HB235

Committee: House Criminal Jurisprudence

Keywords: child protection, sexual offenses, obscenity laws, visual material, anatomically correct dolls, mannequins, robots, criminal offenses, sexually explicit material, minors, artificial intelligence, sexually explicit, doll, mannequin, robot, law enforcement, healthcare, insurance, affordable care, access

Transcript Highlights:

• But still, is there a cap?
• </c><01:07:06.319><c> on</c> how much is there going to be a cap on how much is there going to be a cap
• </c> Representative Moore: Is there a cap? Chair: No.
• So, is there some type of cap on it, or is it just automatic?
• So, is there some type of cap on owner.

Transcript Highlights:

• And if I may, without integrating the housing portion of the Cap-and-Invest program, the Affordable Housing
• And more specifically, the proposal will have, out of the total volume cap for the state, it sets aside
• Our organization represents the full ecosystem of the affordable housing industry, including lenders,
• Like the LAO, we recommend a needs-based framework to guide any future allocation of bond cap between
• and investment. ...is intact, and that we recommend maintaining geographic equity cap and investing

Summary: The subcommittee opened with remarks on the Senate’s budget plan for affordable housing and homelessness, including a proposed $2 billion housing investment and full funding for HHAP rounds 7 and 8. The first major item was the administration’s housing reorganization and trailer bill package, which would codify the new Housing Development and Finance Committee (HDFC), consolidate multifamily housing finance programs into a one-stop application and award process, and shift some authority over bonds, tax credits, and the Affordable Housing and Sustainable Communities program. Administration officials said the goal was to reduce duplication, speed projects from award to construction, and improve accountability by aligning financing decisions. The LAO generally supported the streamlining concept but recommended changes to the proposed bond set-aside and earlier reallocation of unused bond authority, and suggested preserving flexibility for integrated applications and reporting back on the proposed 70/30 split for housing versus sustainable communities funding. Committee members, especially Senator Cabaldon, raised concerns that the new committee structure could add process and delay, and questioned whether the proposal was effectively repurposing the climate-oriented ASIC program into a housing finance tool without enough direct investment in core housing programs. Administration witnesses responded that the structure was meant to create transparency, public accountability, and simultaneous financing awards, and said the proposal was only a first step in a broader consolidation effort. Members also asked about specific programs such as the Joe Serna Farm Worker Housing Grant Program and the Sustainable Agricultural Lands Conservation Program, and staff said those would remain within the broader streamlined framework or the flexible sustainable communities allocation. The committee then heard from CDLAC and TCAC on federal tax credit changes and state housing finance. Staff explained that H.R. 1 increased the federal 9% LIHTC allocation and, more importantly, lowered the bond-financing threshold for 4% credits from 50% to 25%, allowing California to finance many more projects. They reported emergency regulations were adopted quickly to implement the change, resulting in 195 projects and more than 25,000 units in the 4% program, while the 9% program funded 58 projects and nearly 3,000 units. Members asked about the value of the state low-income housing tax credit program and rehabilitation projects; staff said state credits remain important for filling financing gaps and that a portion of bond and credit resources is now set aside for acquisition and rehabilitation. Finally, the Civil Rights Department reported on the effects of federal civil rights rollbacks and on three limited-term or expiring programs: California vs. Hate, the Community Conflict Resolution Unit, and Investigations and Conciliation Enhancement. Director Kevin Kish said federal closures and funding cuts have increased demand on the department, which now has more than 12,000 open matters, up from 8,700 a year earlier, and a six-month wait for intake interviews despite overtime triage and early case screening. Members urged continued funding for the programs, arguing they are essential as federal protections weaken; department staff said California vs. Hate connects callers quickly to support services, the conflict resolution unit fills a gap left by the shuttered federal counterpart, and the limited-term investigators have helped reduce wait times even as filings continue to rise.

Transcript Highlights:

• The lenders to finance these projects.
• </c> exceed 30 million per lender per year. exceed 30 million per lender per year.
• And also, once a a lender goes &gt;&gt; Okay.
• ,</c> another tool to the toolbox for lenders, another tool to the toolbox for lenders, it's<01:04:09.440
• The New Hampshire Community Loan Fund is a nonprofit lender.

Committee: House Housing

Transcript Highlights:

• In every program, you have an application intake system, and you have a lender work with that; a credit
• We only have one set of lenders and one set of credit analysts.
• that is important to understand about the program is that the Interim FAA is not the last resort lender
• Regarding county limits, we have caps for the housing development project: 50% per county.
• For commercial development, there are 25% caps on how much we will invest in a particular county. in

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• So the budget stabilization fund is over the statutory cap.
• It has a statutory cap of 15% against the previous year's revenues.
• right outside that $10,000 cap.
• And now it's under the new $40,000 cap.
• Higher means lenders expect it to be higher. And so what's higher?

Summary: The committee was convened to review Idaho’s economic outlook and general fund revenue projections for fiscal years 2025-2028, with members instructed to submit “homework” revenue estimates by noon the next day so staff could compile committee averages and medians for deliberations and a final recommendation to JFAC. Opening remarks emphasized the committee’s constitutional charge, the use of the binder materials and online packet, and that the committee would meet again the next day to discuss and vote on the revenue projection recommendation. Staff and agency presentations focused on the state’s budget and revenue picture. Legislative Services Office staff described structural imbalance concerns, noting that statutory spending changes and earmarked sales tax distributions have crowded out flexibility, while cash reserves remain substantial. The Division of Financial Management’s economist explained the official revenue forecast, including revised treatment of sales tax and tax relief fund accruals, and said the forecast largely held steady overall even as corporate and individual income tax categories shifted. She also discussed the impact of the federal One Big Beautiful Bill Act on SALT deductions and said recent corporate collections had rebounded sharply, suggesting timing and behavior changes rather than a broad economic downturn. Outside economists and labor experts painted a generally stable to positive economic picture. Zions Bank’s economist said the Federal Reserve is likely near the end of major rate cuts, long-term rates and mortgage rates remain elevated, tariffs have risen sharply, but inflation has not yet shown broad tariff-driven acceleration; he described the national labor market as slowing but not contracting and said 2026 could be a rebuilding year. The Idaho Department of Labor reported that Idaho’s unemployment remains historically low, job growth is steady, wage growth is moderating from overheated pandemic-era levels, and the state’s labor market remains healthier and more balanced than the national picture. The committee also heard from Idaho Power’s economist, who began a presentation on broader economic conditions and utility-related demand trends before the transcript ended.

Transcript Highlights:

• Chair and committee members, I'm Jessica Jensen, Senior Attorney with Cap City Law in Olympia.
• It makes it impossible for me to be able to certify to lenders that we are complying with all applicable
• So one thing to think about this is that because they're not putting their own money in, they have lenders
• That because they're not putting their own money in, they have lenders and funders that could be public
• And in that situation, those lenders and funders want to ensure that there is ongoing oversight.

Summary: The Senate Housing Committee held public hearings on four bills and then took executive action on several measures and two gubernatorial appointments. At the start, the committee waived the five-day notice rule for Substitute House Bill 2354, Engrossed Substitute House Bill 2266, and Second Substitute House Bill 2590. The committee also heard public testimony on House Bill 1859, which would expand affordable housing on property owned by religious organizations by lowering the affordability threshold needed to qualify for a density bonus. Supporters, including the sponsor, faith leaders, and local officials, said the current 100% affordability requirement has made projects difficult to finance and that the bill would better unlock underused church land for housing. The committee then heard Engrossed Substitute House Bill 2266, which would further standardize where and how permanent supportive housing, transitional housing, indoor emergency housing, and shelters can be sited, while limiting local barriers and allowing some negotiated conditions near schools or when local governments provide significant support. The sponsor and supporters from King County, housing providers, the Attorney General’s office, disability advocates, medical professionals, and others argued the bill would reduce discriminatory or inconsistent local siting rules and expand needed housing. Some local government representatives supported the bill but asked for additional amendments to preserve local flexibility, require on-site contacts, and clarify how operating conditions and funding agreements would work. The committee also heard House Bill 2590, which would revise rules for limited equity cooperatives so they can better function as a long-term affordable homeownership model and remain exempt from certain Washington Uniform Common Interest Ownership Act requirements. Supporters said the bill would help preserve manufactured housing communities and other cooperative housing while maintaining affordability and oversight. House Bill 2354, a trailer bill to WACOIA, would make technical changes affecting common interest communities, including EV charging and heat pump cost responsibility, reserve studies, and audit thresholds; the Washington State Community Association’s Institute testified in support. In executive session, the committee confirmed gubernatorial appointments Aaron T. McGrath and Ann T. Malone and voted do-pass recommendations for EHB 1687, SHB 2269, and HB 2304, all subject to signatures.

Transcript Highlights:

• that this growth rate is normally capped.
• , and is often capped by the companies today.
• Okay, so let me talk for a second about these cost caps.
• These caps are voluntary, so they're not required by existing legislation.
• So the triangles were the contracts without caps.

Summary: The committee first held a work session on cryptocurrency kiosks, with the Department of Financial Institutions and Spokane City Council describing how virtual currency kiosks operate, where they are located in Washington, and the rapid growth in transaction volume. DFI said the machines are being used heavily in scams, especially against older and vulnerable consumers, and cited FBI fraud data showing substantial losses. DFI outlined possible consumer protections in pending legislation, including stronger disclosures, a $1,000 daily transaction limit, and a fee cap. Spokane City Council described its unanimous ordinance banning new kiosks and requiring removal of existing ones, citing local scam reports and the difficulty of recovering funds once they are sent through crypto wallets. Committee members asked about how the machines are used, whether the hardware itself is vulnerable, and whether stronger warnings or screening requirements could help. The committee then reviewed home equity sharing agreements, or CHISAs/HESAs, following a legislative report. The report’s author said these products provide homeowners a lump sum in exchange for a share of future home value or appreciation, with no monthly payments, but can be difficult for consumers to understand and can produce highly variable settlement costs. The report found the market has grown quickly in Washington, that many consumers using the products had financial hardship, and that many did not fully understand how settlement amounts were calculated. DFI said it views the products as mortgage-like and is moving forward with rulemaking, including counseling and clearer disclosures. Industry representatives said the products are equity-based rather than debt-based, support access to home equity for people who may not qualify for traditional loans, and said they are working with DFI on standardized disclosures, counseling, and annual settlement estimates. Senators raised concerns about consumer understanding, cost caps, and whether the products should be treated as mortgages under state law. In the final work session, the committee heard an overview of Washington’s space economy from Amazon Leo, Blue Origin, Stoke Space, Space Northwest, and Green River College. Speakers highlighted major investments in Washington facilities, manufacturing, testing, and workforce training, and described the state as a hub for aerospace and satellite activity. They emphasized job creation, supply-chain spending, and education partnerships, including technician certification and apprenticeship-style programs. Several speakers urged the legislature to expand tax incentives to include space companies, support grants and workforce programs, and consider a state space commission or similar long-term coordination effort. The committee thanked the presenters and noted time constraints before ending the hearing.

Transcript Highlights:

• It also sets new student loan limits, capping Parent PLUS loans at $20,000 per year and ending Grad PLUS
• But the major lenders do not anticipate having new loan models ready for at least another month or two
• be required to pay some percentage to the lenders in a risk-share model.
• And now they're being capped at 20%.
• And now they're being capped at 20%.

Committee: House Higher Education

Summary: The Assembly Higher Education Committee held an oversight hearing on the impact of federal actions on California higher education, with opening remarks from the chair and members emphasizing shared governance, student access, and the importance of protecting California’s public systems. The first panel included leaders from CSU, UC, California Community Colleges, and the University of the Pacific, who described major disruptions from federal policy changes, including grant terminations, changes to Pell and loan programs, the elimination of Grad PLUS loans, tighter loan limits, and uncertainty around immigration, CalFresh/SNAP, and Medicaid-related rules. UC and CSU leaders said federal research and student-support cuts threaten research capacity, workforce pipelines, and services for low-income, first-generation, undocumented, and international students, while the community colleges highlighted uncertainty around TRIO, HSI/MSI/AANAPISI grants and the need to preserve student services and economic mobility. Members asked about the scale of funding losses, intersegmental partnerships, workforce impacts, indirect cost caps, H-1B hiring costs, and the effect of federal changes on health care and research. Witnesses said the federal environment has created instability, delayed planning, and could reduce access to graduate and professional education, especially in health fields and other high-need professions. Several witnesses urged the Legislature to support research bonds, housing and capital outlay, and continued state investment to offset federal retrenchment. The committee also discussed how cuts could affect student debt, food insecurity, and the diversity of future cohorts, with witnesses warning that the changes could narrow access and weaken California’s workforce pipeline for years. The second panel focused on equitable access. The California Student Aid Commission described state efforts such as Cal Grant, the Middle Class Scholarship, the Golden State Teacher Grant, and a proposed state FAFSA alternative for students who cannot access federal aid, while urging reforms to Cal Grant, better integration with CalFresh, and more support for foster youth and adult learners. The Los Angeles Community College District reported that federal cuts and policy uncertainty are discouraging students from applying for aid, threatening TRIO and MSI/HSI-funded services, and putting basic needs, transfer support, and workforce programs at risk. The Association of Independent California Colleges and Universities said federal loan caps, research cuts, and attacks on DEI and HSI funding are harming access and retention, especially for first-generation and low-income students, and called for stronger state support, including transfer aid and a state-backed loan option. The CSU Academic Senate also testified that abrupt federal changes to MSI and related programs have disrupted student research, summer programs, and equity-focused initiatives, with one campus example losing $2.7 million in student-centered funding on short notice.

Transcript Highlights:

• Mortgage lenders take a secured interest in a property.
• </c> the fee areas of the bill, the fee caps the fee areas of the bill, the fee caps and<01:07:39.839
• I the fine capping and provisions.
• So it's not necessarily putting a cap on it because it is a percentage of that.
• So it's not necessarily putting a cap on it because it is a percentage of that.

Transcript Highlights:

• I'll bring up a couple of items related to fiscal oversight and the 30% cap.
• Finally, for the trailer bill language, about the 30% cap on awards, there are various tradeoffs involved
• with having a cap on awards.
• But since the proposal is 60% cap on awards, it's not a big deal.
• of the reduced size of the program the cap would be more restrictive for GO-Biz.

Transcript Highlights:

• quasi-partner, who I know you'll hear from later, MassHousing Partnership, just yesterday met with lenders
• As a portfolio lender, we service all of those loans in-house.
• We are also the largest risk-share lender in the country.
• The banks and lenders participating commit to basically their own discount on the mortgage rate, so it
• , To support both immediate investments and, crucially, additional growth in the capital bond cap for

Committee: Joint Joint Committee on Housing

Summary: The Joint Committee on Housing opened its second hearing of the session with remarks from Chairs Haggerty and Cyr emphasizing that the hearing was a broad look at Massachusetts’ housing crisis rather than a single bill. They highlighted topics including zoning, permitting, rental assistance, public housing, homelessness prevention, and housing production. The first witness, Housing and Livable Communities Secretary Augustus, reviewed implementation of the Affordable Homes Act and the state’s new housing plan, citing a 1.6% vacancy rate, a projected need for 222,000 new homes over 10 years, and ongoing efforts such as ADUs by right, fair housing enforcement, eviction record sealing, seasonal communities planning, and new funding for affordable housing, public housing, and the Momentum Fund. He also discussed infrastructure support for municipalities, technical assistance for ADUs, and concerns about possible federal funding cuts. Committee members questioned the secretary about ADU financing and technical assistance, the likely unit yield from the Affordable Homes Act, infrastructure barriers in suburban and rural communities, public housing waitlist management, supportive housing, and federal budget risks. MassNAHRO then testified that public housing authorities are facing rising operating and capital costs, a statewide waitlist nearing 300,000, and uncertainty over federal Section 8 and HUD funding. Witnesses described recent state support for operating subsidies, capital improvements, vacancy turnover teams, and resident service coordinators, while warning that proposed federal cuts could sharply affect voucher issuance and agency operations. CDAC’s executive director Roger Herzog described the agency’s role as a quasi-public source of early-stage financing and technical assistance for nonprofit housing developers, noting its loan capital, supportive housing bond programs, home modification loans, and preservation work under Chapter 40T. He said CDAC has helped produce or preserve more than 55,000 units and stressed the importance of patient capital and preservation tools. CHAPA CEO Rachel Heller urged the committee to focus on production, preservation, planning, and political will, supporting goals for affordability, supportive housing, and homeownership, and endorsing policy changes such as YIGBY, clearer site plan review rules, stronger fair housing funding, and more support for vouchers and public housing. MassHousing then outlined its financing role, including mortgage lending, down payment assistance, the Community Climate Bank, and the Momentum Fund, while noting that permitting delays, capital gaps, and possible federal changes could affect production. Members also asked about transparency, prevailing wage compliance, and a recent internal restructuring related to diversity and business engagement.