Transcript Highlights:

• are told by our independent performance consultant that 50 basis points would put us clearly in the top
• And over a one-year basis, that 17.1% of total fund is just below the top five percentile.
• And over a one-year basis, that 17.1% of total fund is just below the top five percentile.
• So it's in the top six percent of all plans greater than a billion dollars for the last year.
• You've got tourism on top of it, but there you need an ability to...

Summary: The committee met to approve prior minutes and receive updates on the Legacy Fund transparency website and fund performance. Staff reported the website procurement was in contract negotiations, with a planned go-live around November 1, and that the site would provide downloadable, more transparent information on fund holdings, allocations, history, and legislative appropriations while protecting confidential data. The investment office then reviewed performance through January 2026, describing strong returns relative to benchmarks, noting real estate and fixed income as weaker areas, and explaining that the fund’s diversification and internal management had helped offset market volatility, including recent geopolitical impacts. Members also discussed the in-state investment program, especially the Bank of North Dakota’s CD-match allocation. Several members questioned whether the program had been static for years and whether the uncommitted balance should remain parked there if it was not being used. The committee voted to pause further transfers into the program until the Bank provides a report and the committee can consider possible statutory changes; the motion also requested a cost-benefit analysis from RVK, and it passed by roll call vote. In the afternoon, RVK presented its review of the investment policy statement as it relates to the in-state investment program. The consultant said it found no major policy impediments, and that implementers and stakeholders generally felt the program was proceeding as intended. RVK emphasized best practices such as third-party due diligence, competitive risk-adjusted returns, diversification, pacing, and exit strategies, while cautioning that required lower-return investments or spending commitments can create pressure on the fund’s long-term real value. The consultant also raised ancillary concerns about state-level concentration risk, the need to distinguish between public and commercial infrastructure, and the lack of a central repository for all state funding commitments to the same projects.

Transcript Highlights:

• I don't know off the top of my head, but I'd be glad to research that and get back with you.
• I don't know off the top of my head, but I'd be glad to research that and get back with you.
• don't<00:14:42.320> know<00:14:42.800> off<00:14:42.959> the<00:14:43.079> top
• c><00:14:43.320> my<00:14:43.400> head,<00:14:43.600> but I don't know off the top
• of my head, but I don't know off the top of my head, but I'd<00:14:43.839> be<00:14:43.959>

Keywords: The livestream event for this meeting cut off shortly after the meeting began. This is the complete copy pulled from back ups., 958, all

Transcript Highlights:

• And even though it says over in the top of 17, that role in the grade band would be a condition of their
• And even though it says over in the top of 17, that role in the grade band would be a condition of their
• And even though it says over in<01:24:46.159> the<01:24:46.239> top<01:24:46.480> of
• 47.760> that<01:24:48.080> role<01:24:48.320> in<01:24:48.480> the in the top
• of 17, the that role in the in the top of 17, the that role in the grade<01:24:48.880> band<01

Keywords: 916, all

Transcript Highlights:

• New Mexicans cannot afford government mandates stacked on top of rising healthcare costs.
• NAMI's national platform places at the top of our priority list that people with mental illness get help
• Finally, layering a private right of action on top of attorney general enforcement Increases litigation
• of which mine was stolen, the security clearances of hundreds of thousands of military members with top
• marijuana corrected, and that person theoretically Could that person not go get recreational marijuana on top

Bills: SB20, SB53, SB86, SB96, SB129

Keywords: prior authorization, pharmacy benefits manager, PBM, health insurer, prescription drugs, step therapy, formulary, auto-adjudication, electronic portal, appeals, medical necessity, serious mental illness, mental health, schizophrenia, bipolar disorder, major depression, substance use disorder, addiction treatment, cancer, autoimmune disorder

Transcript Highlights:

• Uh, bottom of page three, top of page four.
• That blue line up the top there was me about 18 months ago. I came out after 30 years.
• That blue<00:27:44.000> line<00:27:44.240> up<00:27:44.400> the<00:27:44.559> top
• there,<00:27:45.120> uh<00:27:45.279> that<00:27:45.440> was blue line up the top
• there, uh that was blue line up the top there, uh that was me<00:27:45.760> about<00:27:46.080

Keywords: 958, all

Summary: The committee heard House Bill 369, which would add post-traumatic stress disorder to an existing 2018 hyperbaric oxygen therapy-related law for veterans. Representative Scott Sharp and HBOT for KY Vets representatives testified that PTSD and traumatic brain injury often overlap, that veterans are frequently misdiagnosed, and that hyperbaric oxygen therapy has shown benefits in clinical trials and in Kentucky’s own funded program. Members asked whether the bill would require insurance coverage; the sponsors said it would not, and noted they are seeking broader approval through medical and congressional channels. The committee voted favorably on HB 369, with members expressing support based on personal experience and the needs of veterans and their families. The committee then considered House Bill 419, for which a committee substitute was adopted before testimony. Representative Suzanne Miles and Kentucky Fire Commission/KCTCS representatives explained that the bill would expand the fire commission board from 14 to 18 members, clarify that KCTCS’s 5% administrative fee applies collectively to all funds rather than separately to each fund, and allow excess funds to help cover out-of-pocket cancer screening costs for volunteer and paid firefighters. A question about board staggering was answered by explaining that staggered terms were originally used to avoid all terms ending at once and were expected to continue. The committee passed HB 419 with favorable expression. Later, USA Cares presented an update on how it has used prior state funding. The organization described its grant-based assistance for veterans and military families facing housing, vehicle, and utility crises, as well as career transition and housing-related support programs. Testimony emphasized that the aid helps prevent homelessness and reduce suicide risk, and the group reported it had used nearly all of the $2 million awarded in the last budget cycle to assist 364 families and more than 500 dependents. No vote was taken on the USA Cares presentation.

Transcript Highlights:

• This is, in fact, another bill for billionaires because the richest few at the top of the pyramid scheme
• Off the top of my head? Oh, no, like what are they? What kind of are they?
• So they are STOs that serve all— organization can you tell me who are the members of that off the top
• ago, before my time, to only costing 10%, right, because they were actually taking more money off the top
• copy of the press release, so I was just going to work my way through it, kind of starting from the top

Bills: SB1042, SB1043, SB1044, SB1135, SB1136, SB1142, SB1180, SB1221, SB1252, SB1254, SCR1003

Keywords: public funds, virtual currency, bitcoin, investment, Arizona Strategic Digital Asset Reserve Act, state treasurer, retirement system, state payments, cryptocurrency, Arizona law, payment methods, government transactions, property tax, tax exemption, Arizona Revised Statutes, digital currency, workers' compensation, death benefits, burial costs, spousal compensation

Transcript Highlights:

• The package included just three provisions: reducing the top marginal rate from 8.5 to 8.2%, repealing
• It cut the top PIT rate from 7.9% to 5.9% over five years.
• Requiring CIT combined reporting for multi-state corporations, creating a new top PIT bracket of 5.9%
• Requiring CIT combined reporting for multi-state corporations, creating a new top pit bracket of 5.9%
• This isn't a 2% on top of what's out there. This is just 2%.

Summary: The committee’s final day focused first on a historical overview of New Mexico tax packages by Pam Stokes of Legislative Council Services. She described how tax packages have alternated over the decades between tax relief, revenue raising, and tax reform, with examples ranging from the creation of the gross receipts tax in 1966 to major packages in 1981, 1986, 1991, 1994, 2005, 2019, 2022, 2024, and the vetoed 2025 package. Members discussed how tax policy often tracks revenue conditions, how packages can combine increases and decreases, and how local government gross receipts taxes and hold-harmless distributions have affected communities differently. Several members reflected on past packages, especially the 2004 food tax repeal and the 2013 film tax and manufacturing changes, and noted that tax policy can have major economic and political effects even when it is not “sexy” legislation. The committee then heard a proposal to expand the health care practitioner gross receipts tax deduction to include co-insurance, and to extend the sunset date. Sponsor Senator Figueroa said the bill was intended to help recruit and retain medical providers and build on prior deductions for co-pays and deductibles. Testimony explained that co-insurance is the patient’s share after the deductible, that providers currently absorb the gross receipts tax on those payments, and that the proposal would cost about $30 million to the state plus about $20 million to municipalities and counties, with the exact fiscal impact likely to be updated. Members raised concerns about the effect on local governments, whether insurers could be required to reimburse providers, whether the bill would actually attract doctors, and whether better evaluation measures and sunsets should be added. The sponsor said the bill was part of a broader set of efforts to address provider shortages and that the discussion would continue. Representative McQueen then presented a bill to update the Land Conservation Incentives Act. He and conservation partners said the program has protected more than 500,000 acres but has not kept pace with rising land values, especially for irrigated agricultural land in the Middle Rio Grande. The proposal would increase the percentage of conservation value eligible for the credit, raise the per-transaction cap from $250,000 to $2 million, and make the credit refundable rather than only transferable. Testimony emphasized that the program is voluntary, keeps land in private ownership and production, and helps land-rich, cash-poor landowners preserve farmland and water rights. Members asked about average credit amounts, how easements work, whether landowners could effectively buy land and then use the credit, and whether there should be inflation indexing or a statewide cap. The discussion also touched on water rights, fencing, and the role of conservation easements in protecting agricultural land and compact water deliveries. Finally, Senator Sharer previewed his 2% tax proposal with a historical presentation on New Mexico tax law, using props to illustrate the evolution from early territorial tax codes to the modern tax system. He argued that the state’s current tax structure is overly complex and that recent federal changes have disrupted the personal income tax base. The committee did not take any votes on the day’s presentations; the meeting was primarily informational, with members offering feedback and raising policy concerns for future sessions.

Transcript Highlights:

• Those were among the top categories.
• Those were the top, among the top categories. restaurant workers.
• Those were the top, among the top categories and the survey that we last conducted.

Summary: The Assembly Select Committee on Child Care Costs held its third hearing, focused on how transitional kindergarten (TK) fits into California’s mixed-delivery early learning system, with an emphasis on the Central Valley. Opening remarks stressed that TK and child care should complement each other, not compete, and that families need both part-day school-based options and full-day, year-round care. Committee members outlined hearing goals around aligning TK with existing programs, understanding family needs, and examining the economic impact of early learning on workforce participation and local economies. Panelists from the Legislative Analyst’s Office, Every Child California, Early Edge, Children Now, and others described TK’s rapid expansion to all four-year-olds, the growth in enrollment, and related changes to state preschool and after-school programs. Witnesses generally supported TK but warned that its expansion has shifted enrollment away from community-based providers, especially centers and family child care homes, creating financial strain, vacant classrooms, and staffing challenges. They urged stronger partnerships between school districts and community providers, more flexible licensing and facilities support, higher and more uniform reimbursement rates, permanent authority for state preschool to serve two-year-olds, and better compensation and training for educators across settings. Parents and providers testified about the importance of trusted, culturally and linguistically responsive care, the need for infant-toddler and home-based options, and the difficulty of affording child care when TK is not full-day or does not fit family schedules. Several speakers emphasized that many families still face long waits for subsidies and that reimbursement and payment delays threaten provider stability. Public comment echoed these concerns, with providers calling for true cost-of-care rates, more vouchers, support for transportation and nontraditional hours, and protection from insurance and facility costs that can force programs to close. State education officials said California’s UPK system works best when TK, state preschool, Head Start, and community-based providers are treated as a shared system, and noted that planning and implementation grants and local coordination efforts have helped build mixed-delivery partnerships. The hearing ended without formal votes or actions, but committee members indicated they would continue gathering input to inform future policy and budget decisions.

Transcript Highlights:

• Safety remains a top priority at Las Cruces. Public schools.
• We're always on call, and we're always on top.
• We are in the top tier around the state in literacy growth, definitely seeing the return on investment
• I mean, you build programs in education from the top down.
• It's not the top dictating how education should be delivered.

Transcript Highlights:

• Do you know off the top of your head?
• Madam Chair and Senator Townsend, I don't know off the top of my head.
• Starting at the top, it cut taxes, and it's projected to cut them by $4.5 trillion.
• It's been a lot of work, and we're proud of staying on top of this and trying to stay ahead of the curve
• To fracking injection wells in our region, on top of the air pollution that those industries are emitting

Transcript Highlights:

• this is not a cap because they've got the ability to go to the public and say it's a debate; it's a top-down
• My main concern, Senator, is that we're taking off 29% revenue right off the top with Senate Bill 10.
• Instead of just cutting off 29% off the top. If I could try one more time to get your vote, okay?
• And I mean, just from the two big things off the top of my head, the San Antonio Express and the KHOU
• It was going to go on top of the bluff, some of the most beautiful view corridors in the state of Texas

Bills: SB2, SB3, SB5, SB9, SB10, SB14, SB16, SB18, SB34, SB6, SB7, SB8, SB11, SB12, SB13, SB15, SB 2, SB 3, SB 5, SB 9, SB 10, SB 14, SB 16, SB 18, SB 34, SB 6, SB 7, SB 8, SB 11, SB 12, SB 13, SB 15, SB 17, SB 4, SB1, SB2, SB3, SB5, SB9, SB10, SB14, SB16, SB18, SB34, SB6, SB7, SB8, SB11, SB12, SB13, SB15, SB17, SB4

Keywords: flooding, public safety, outdoor warning sirens, disaster preparedness, emergency response, flood warning, outdoor sirens, local government, safety measures, flood management, emergency preparedness, municipal safety, disaster response, disaster relief, emergency funding, Meteorological forecasting, local government assistance, training facilities, hemp regulation, consumable products

Transcript Highlights:

• And over the next five years, she's going to make another $675,000 in bonuses and incentives, on top
• They are top-heavy, and we are so proud to be a part of that.
• however, cut money that was going to Lutheran Social Services because that CEO made $420,000, and their top
• That stacks on top of what they have already bargained for.
• make sure you give that operator a chance to Be a great operator and just don't pile more money on top

Transcript Highlights:

• I don't know the number off the top of my head, but I could just execute that yesterday.
• It says Murphy on the top. Right there. Yeah. I'm sorry. Oh, yeah.
• It says Murphy on the top. top. top. Right<01:06:39.920> there.<01:06:41.359> Yeah.

Keywords: 1191, senate, all

Transcript Highlights:

• I will say that this bill is a top priority of the commander task force as well as the administration
• I will say that this bill is a top priority of the commander task force as well as the administration
• I will say that this bill is a top priority of the commander task force as well as the administration
• I will say that this bill is a top priority of the commander task force as well as the administration
• I will say that this bill is a top priority of the commander task force as well as the administration

Keywords: 1183, house

Transcript Highlights:

• insurance, as far as issues that I hear from my constituents, insurance consistently is still at the top
• As issues that I hear from my constituents, insurance consistently is still at the top, particularly
• And I, too, knocked 15,000 doors, and this was the absolute top issue.
• And I too, I knocked 15,000 doors and this was the absolute top issue.
• If you have more than 5% ownership and interest in an insurer, all the way up to the top, the whole holding

Summary: The subcommittee held its first meeting on homeowners property insurance, with members from both parties introducing themselves and repeatedly noting that insurance affordability, roof condition, claims handling, and storm recovery are top concerns for their districts. Chair Yeager said the meeting was intended as an educational discussion rather than a legislative debate, and introduced a panel that included Insurance Commissioner Mike Yaworski, consumer Chad Carr, agent Mary Catherine Lawler, insurer executive Melissa Burt DeVries, and policyholder attorney Chip Merlin. The panel and members discussed major cost drivers in Florida homeowners insurance, including inflation, home age, roof age, mitigation features, claims history, litigation costs, reinsurance, and the Florida Hurricane Catastrophe Fund. Commissioner Yaworski said underwriting has become more sophisticated and that litigation costs, reinsurance, and replacement-cost inflation all affect premiums; he also said litigation is down about 30% and average requested rate increases have fallen from about 22.1% in 2022 to 0.8% today. DeVries said age of home, replacement cost, roof age, and coverage choices can materially change premiums, and explained that reinsurance is a major expense passed through to consumers. Merlin emphasized transparency concerns, argued that insurers are increasingly individualizing risk, and said consumers often struggle with coverage limits, deductibles, and claim denials. Members asked about flood coverage, hurricane deductibles, managed repair programs, mitigation credits, new insurer capitalization, and whether savings from reforms are reaching consumers. Yaworski explained that flood is generally excluded from homeowners policies and covered separately, that hurricane deductibles are mandatory in Florida and usually around 5%, and that the office tracks savings from reforms through rate filings and insurer discussions. He said the state is updating mitigation discounts and monitoring new entrants closely for solvency and market conduct. Several members and panelists said recent reforms have helped reduce some abuses and litigation, but many consumers are still seeing higher premiums because replacement costs and reinsurance remain elevated. No votes or formal actions were taken.

Transcript Highlights:

• So land use reform is at the absolute top of the list.
• Anselm housing survey has repeatedly shown this is the top public policy issue.
• Anselm housing survey has repeatedly shown this is the top public policy issue.
• Anselm housing survey has repeatedly shown this is the top public policy issue.
• Anselm housing survey has repeatedly shown this is the top public policy issue.

Keywords: 1189, house, all

Transcript Highlights:

• We've got the experts from industry, from the top industry leaders, and they are going to be asked to
• We've got the experts from industry, from the top industry leaders, and they are going to be asked to
• So shell access is essentially the top level control of your—just to put it in our...
• We will start at the top. We'll just, I think it's easiest. We just start at the top.
• We'll go back to the top for Mr. Ward. Yeah. Thank you for coming back. Okay.

Keywords: 988, house, all

Transcript Highlights:

• So that's about one-half of all water losses from the top 10 water losers.
• One-half of all water losses from the top 10 water losers.
• You add on top of that, as you just mentioned, and as Dr.
• top priorities.
• The brown or black squiggly line at the top is the land surface.

Keywords: 1185, senate, all

Transcript Highlights:

• This will be a 750,000-gallon composite water tower: a concrete pedestal with a steel tank on top.
• This will be a 750,000-gallon composite water tower: a concrete pedestal with a steel tank on top.
• This will be a 750,000-gallon composite water tower: a concrete pedestal with a steel tank on top.
• This will be a 750,000-gallon composite water tower: a concrete pedestal with a steel tank on top.
• top or steel tank on top. top or steel tank on top.

Keywords: 1187, senate, all

Transcript Highlights:

• state and the city separately both invested significant dollars into this huge event venue that is top
• event<00:10:30.399> venue<00:10:30.720> that<00:10:30.959> is<00:10:31.200> top
• class in the event venue that is top class in the country<00:10:33.120> and<00:10:33.440>
• <00:19:18.960> class again, keeping the facility in top class again, keeping the facility
• in top class condition,<00:19:20.160> you<00:19:20.480> may<00:19:20.720> be<00:

Bills: HF4912, HF4664

Keywords: electronic pull-tabs, pull-tabs, tipboards, gambling tax, Minnesota Racing Commission, Thoroughbred, horse racing, Minnesota-bred horses, breeders, owners, racing purses, industry subsidy, gambling revenue dedication, problem gambling, compulsive gambling treatment, general fund appropriation, state affiliate National Council on Problem Gambling, racing incentives, equine industry, public officers