Transcript Highlights:

• years ago, but I was working for the Idaho State University Federal Credit Union, leading an indirect lending
• For the Idaho State University Federal Credit Union, leading an indirect lending team to establish indirect
• lending—that is, financing automobile loans through car dealers directly through the credit union.
• Over 23 months, I'm kind of proud to say we did $44 million in lending, and it was a good accomplishment

Committee: House Revenue and Taxation

Transcript Highlights:

• smaller mentoring program with our economic development team and have reached the maximum capacity of lending
• reviewed, they're given mentorship to grow, but they're also able to access a part of funding that can lend
• many people who are appointed to these councils have said they struggle to find the actual value they lend
• That it is an appointment to show up and... ...they lend via the appointment, that it is an appointment

Committee: Senate Appropriations Committee on Transportation, Tourism, and Economic Development

Summary: The Appropriations Committee on Transportation, Tourism, and Economic Development heard three bills after temporarily postponing SB 1524. The committee first took up CS for SB 1264, a broad economic development bill covering law enforcement recruitment bonuses, venture capital tax credits, data center tax exemptions, military land transfers, Space Florida procurement exemptions, and changes to regional planning councils. An amendment was adopted to remove sections tied to emergency management shelter plans so the bill would align with another measure. The main debate centered on the proposal to repeal regional planning council statutes; supporters argued the councils are duplicative and bureaucratic, while opponents said they provide valuable regional coordination, technical assistance, and grant support, especially for rural communities. The bill was reported favorably 13-1, with Senator Sharif voting no. The committee then considered CS for SB 1348, which streamlines motor vehicle services by expanding the role of tax collectors as DHSMV agents. Three amendments were adopted: one making the scalping of driver and motor vehicle appointment slots a misdemeanor, one increasing penalties for texting while driving and requiring a new distracted-driving course to remove points, and one allowing veterans with DV plates to use a sticker instead of a stencil or imprint. The bill received supportive testimony from tax collectors and law enforcement-related groups and was reported favorably without opposition. Finally, the committee heard SB 936, which directs the Department of Commerce’s workforce research bureau to conduct a recurring statewide study every three years on the effects of automation, robotics, and AI on Florida’s workforce. The sponsor said the study would have minimal fiscal impact and would help guide policy recommendations. With no opposition or debate, the bill was reported favorably. The committee then adjourned after brief closing remarks thanking staff and members.

Transcript Highlights:

• institution to use a social credit score when the bank or financial institution evaluates whether to lend
• we don't use social credit scores and that our banks are not allowed to use flimsy reasons about lending
• Our banks are not allowed to use flimsy reasons about lending money, but most importantly, I would hope
• institutions are private industries and therefore should have some leeway in deciding to whom they lend
• and to whom they do not lend.

Summary: The Senate opened with prayer, the Pledge of Allegiance, guest introductions, and a light April Fools proclamation directing the sergeant-at-arms to wear a silk top hat for the day. The chamber then agreed to the House request to adjourn from April 2 to April 7, and messages from the House were received, including transmission of some bills to the Governor. The body also briefly recognized visitors from the Arizona Psychiatric Society and the nominee to lead the Department of Emergency and Military Affairs. In Committee of the Whole, the Senate considered several bills. On the first calendar, it advanced HB 2120 on property tax exemptions and disability determinations, HB 2174 on insurance business and modeling data, HB 2289 on truth-in-taxation bond notices, HB 2861 on marital/postnuptial agreements, and HB 2903 on banks and financial institutions. On the second calendar, it advanced HB 208 on school libraries, HB 2040 on public educational institutions and adoption information, HB 2075 on school employee contracts, HB 2203 on public school reporting requirements, HB 2255 on school employee training, HB 2383 on school property leases and housing development, and HB 2903 again as amended. Several floor amendments were debated, including a successful hostile amendment to HB 2075 that was later rejected, and committee amendments to other bills were adopted. The Senate then took third-reading votes on multiple bills. HB 257, HB 2131, HB 2223, HB 2264, HB 2857, HB 2120, HB 2174, HB 2289, HB 2861, HB 2903, HB 2008, HB 2040, HB 2075, HB 2203, HB 2255, and HB 2383 all passed, with recorded roll-call votes and several members explaining their opposition or support. HB 2255 passed with the required three-quarters vote. The chamber also adopted the Committee of the Whole reports and transmitted the bills as appropriate. Before adjournment, Senator Miranda read a proclamation recognizing Farm Workers Day, and Senator Tothley offered a statement and moment of silence in memory of Passion Swartz, urging review of turquoise alert practices. The Senate then voted to adjourn until Thursday, April 2, 2026 at 10 a.m.

Transcript Highlights:

• when you think about if you go to buy a house and you're taking out a mortgage, we have a truth in lending
• ...removing from the truth-in-lending statements that people receive the amount of interest they're going
• When you buy a house, you have a truth in lending disclosure.
• Do you know if the City of Austin was thinking about being a lender and lending to businesses and consumers

Bills: SB414 , SB621 , SB2395

Committee: House Pensions, Investments & Financial Services

Keywords: bond election, ballot proposition, debt obligation, municipal bonds, local government finance, property tax, ad valorem tax, school district bonds, county bonds, special taxing district, voter information document, public debt, municipal finance, tax-supported debt, election ballot language, bond transparency, homestead tax impact, capital improvements, general obligation bonds, public bank

Transcript Highlights:

• I'm the executive director of the Responsible Business Lending Coalition.
• And here's what he said: 'The problems that we're starting to see in the small business lending market
• higher cost, less transparent credit products had already grown to be six times the volume of SBA lending

Summary: The Assembly Banking and Finance Committee met as a subcommittee at first because a quorum was not yet present, then proceeded with bill presentations and later formal votes once enough members arrived. The chair reviewed committee procedures, including how to submit written testimony and rules for witnesses and conduct. The agenda included AB 771, AB 1507 on the consent calendar, and AB 1166. AB 771 by Assemblymember Massetto was presented as a technical fix to California’s Uniform Commercial Code. Supporters said it would allow a mortgage or deed of trust to serve as a fixture filing without requiring an exact match to the debtor’s ID, reducing duplicate filings, fees, and administrative burdens. There was no formal opposition, and the committee voted due pass. AB 1507 was then adopted on the consent calendar with a due pass recommendation. AB 1166 by Chair Valencia addressed debt settlement protections for small business commercial financing recipients by extending existing California debt settlement standards from consumer loans to business loans. Supporters, including the Responsible Business Lending Coalition and several financing providers, said the bill would curb harmful practices and align incentives, while still allowing debt settlement services. Members asked about the private right of action and statutory damages, and the bill was approved due pass. The committee later reopened the rolls for absent members, recorded additional aye votes, and adjourned after completing the agenda.

Transcript Highlights:

• Banks were really eager to lend on a lot of these projects.
• They were really eager to lend on housing as well.
• And what we have now is it's very, very expensive to lend the money, very, very expensive to build a
• on housing as well uh the low to lend on housing as well uh the low interest<00:03:53.480><c> rates<
• the money very very expensive to lend the money very very expensive to build<00:04:51.960><c> a</c><

Committee: Senate Housing and Homelessness Prevention

Transcript Highlights:

• them will not participate. ...This particular option allows our state banks to have a new means of lending
• would allow the landowner to do is go to the state bank and say, "I have a cost-share program; you can lend
• We are lending the water enterprise fund, or the water Utility $17 million for a Nichols Project Reservoir
• Banks and the credit unions for lending.
• We lend money out, but it's got to come back in, so whoever's borrowing has to come back in.

Committee: House Economic & Rural Development & Policy Committee

Transcript Highlights:

• We could re-lend that money, so it was a very successful venture with the SBA program.
• It lends smaller amounts than local banks are typically lending and seeks to offer rates as affordable
• Lending to farmers that are transitioning to organic and regenerative practices.
• I'll tell you, when I started my business just over 25 years ago, nobody would lend me a penny at all
• Thankfully, they didn't lend me any money, because I've never carried that thing.

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• CalHFA also provides complementary lending and bond issuance, and HCD fills that final funding gap and
• CalHFA also provides complementary lending and bond issuance, and HCD fills that final funding gap and
• We finance or provide lending, permanent lending for multifamily affordable housing, primarily 9% and
• The balance is where we can balance out the risk of entitlement and the lending side, especially with
• A more predictable entitlement process and lending process in an unpredictable environment, right?

Summary: The Assembly Select Committee on Housing Finance and Affordability held its first hearing of 2025 to examine California’s housing finance system, with opening remarks emphasizing the state’s severe housing shortage, high costs, and the need for practical recommendations to the Legislature and Governor. Co-chairs described the committee as an educational and problem-solving forum focused on financing housing production, first-time homeownership, mixed-income developments, and affordability across the income spectrum. Witnesses from state agencies and the development sector were invited to explain how housing is financed and where the system is breaking down. Panelists from the California Housing Partnership, the Business, Consumer Services and Housing Agency, the Tax Credit Allocation Committee/State Treasurer’s Office, CalHFA, and Related outlined the “capital stack” used to finance affordable housing, stressing that projects typically rely on multiple public and private sources, including federal and state low-income housing tax credits, tax-exempt bonds, state subsidies, local funds, and rental income. Speakers noted that affordable housing rents generally cannot support full project costs without public subsidy, and that recent federal changes—especially the expansion of the 4% and 9% tax credit programs and the reduction of the bond financing threshold for 4% credits—should allow California to finance substantially more units. CalHFA also described its homeownership programs, including My Home, Dream For All, and disaster-related mortgage assistance, as well as its multifamily lending and bond issuance programs. Several witnesses and committee members emphasized that the system remains too complex, too slow, and underfunded. They pointed to the need for more state funding, a housing bond, a permanent funding source, and better coordination among agencies, while also citing recent streamlining efforts such as AB 434’s SuperNOFA, AB 519’s one-stop-shop working group, and the planned California Housing and Homeless Agency reorganization. Members raised concerns about equity, access, missing-middle housing, gender and racial disparities, and whether current programs adequately serve extremely low-income households and those at risk of homelessness. No formal votes or actions were taken during the hearing; the discussion ended with committee members and witnesses agreeing that both funding and administrative reform are needed to increase production and improve affordability.

Transcript Highlights:

• I mean, either we negotiate with them and they agree, or they don't lend us their books or whatever.
• they don't lend us their books<01:02:40.240><c> or</c><01:02:40.440><c> whatever</c><01:02:41.319><c
• We can sell it, lend it however many times. I'm also encouraging that. Certainly.
• out more than the times they let us lend them out.
• ><c> let</c><01:05:30.279><c> us</c><01:05:30.440><c> lend</c><01:05:30.720><c> them</c><01:05:30.839

Committee: Senate Education

Summary: The joint committees heard Senate Bill 659, which would exempt the Department of Education from the electronic procurement system for purchases of fresh local agricultural products and local value-added processed agricultural or food products up to $100,000, and require geographic preference guidelines for locally sourced products. The Department of Education, Department of Agriculture, Hawaii Farm Bureau, and State Procurement Office all testified in support or support of the intent. DOE said the bill would give it short-term flexibility to buy local items not currently on the vendor list, such as poi and limu, while procurement staff said they would provide written comments and a corrected version of their testimony. Committee members questioned why the bill was needed, why the threshold would rise from the current $24,999 small-purchase limit to $100,000, and whether the department should instead amend its vendor list or RFP process. Members raised concerns about efficiency, administrative burden, whether the bill was a temporary fix for procurement planning gaps, and whether purchases would remain compliant with federal USDA rules if federal school-lunch funds were used. DOE responded that the measure would help it expand local purchasing, support farmers, and allow purchases of products not currently available through existing distributors, and said it was working with partners on food-safety certification and federal compliance. The committees then voted to pass SB 659 with amendments. The Joint Committee on Education approved it 3-2, and the Joint Committee on Agriculture and Environment later approved the amended measure 4-0. The chair noted an amendment and a deferred effective date, and the motion was adopted.

Transcript Highlights:

• Nonprofit and for-profit lending organizations which provide or are planning to provide loans for the
• and for-profit lending Nonprofit and for-profit lending organizations<00:40:52.400><c> which</c><00:
• Um, I think what you would see is that banks, you know, this is generally balance sheet lending.
• That it would lead to more conservative, or as conservative, lending, because what we're doing is the
• </c><01:08:16.159><c> a</c> know, I'd be more willing to lend a know, I'd be more willing to lend a family

Committee: House Housing

Transcript Highlights:

• And when their loved ones step up to lend a helping hand, it should always be a built-in mechanism that
• their municipality, so the employees of that municipality can go and direct their checks and make lending
• So, the Mass Alliance Against Predatory Lending has been, one would stay in the weeds, but I think we're
• mailed us one that we pay, but we don't have a mortgage that we legally have because of America Hose Lende
• America Hose Lende is not a lender, is not a commercial institution, is not a bank, and not a broker.

Committee: Joint Joint Committee on Financial Services

Summary: The Committee on Financial Services heard testimony on several bills focused on consumer debt, mortgage regulation, credit unions, and foreclosure prevention. The Attorney General’s Office strongly supported the Debt Collection Fairness Act (S. 735/H. 1275), saying it would curb abusive debt collection, prevent stale claims, limit civil arrest warrants, modernize wage garnishment rules, and reduce judgment interest rates. Senator Eldridge and legal aid advocates echoed that support, while the Massachusetts Bankers Association and the Massachusetts Mortgage Bankers Association supported bills on credit union mission/competition, consumer privacy in mortgage applications, subprime loan definitions, UCC updates, and protections for vulnerable adults, but opposed foreclosure mediation proposals and several credit union expansion measures, arguing they would distort competition and add unnecessary burdens. A large portion of the hearing focused on foreclosure prevention bills (S. 765/H. 1090), with testimony from homeowners, housing organizers, and legal advocates describing predatory lending, confusing servicing practices, health harms, and displacement caused by foreclosure. Supporters said a statewide pre-foreclosure mediation program would give borrowers and lenders a chance to reach alternatives such as loan modifications or repayment plans, and cited local experience in Lynn where mediation reportedly produced high rates of foreclosure alternatives. Opponents from the banking industry argued Massachusetts already has strong foreclosure protections and that a new mandatory process could delay resolution without added benefit, though they also noted a 2024 pilot should be evaluated first. The committee also heard strong support for H. 1282/S. 684, which would update the Massachusetts Uniform Commercial Code. State Street and a bankruptcy attorney said the changes are needed to keep commercial law current with electronic transactions, tokenized assets, and blockchain technology, and to maintain competitiveness with other states. The hearing concluded after public testimony, with no bill votes taken during the session; the chair thanked speakers and the committee voted to adjourn.

Transcript Highlights:

• Uh, so if you go back just quickly in 1998, the legislature put in place a cap on payday lending, $500
• ><c> payday</c> legislature put in place a cap on payday legislature put in place a cap on payday lending
• </c><00:02:06.719><c> What</c><00:02:06.880><c> we</c> Lending $500 out or two loans.

Committee: Senate Banking & Insurance

Transcript Highlights:

• administers state or federal funds, its operating costs are completely self-supported through its lending
• So thinking about this from two different but related perspectives: for lenders, construction lending
• higher risk than traditional mortgage lending.
• It would incentivize liquidity providers to provide more capital for construction lending.
• It would incentivize liquidity providers to provide more capital for construction lending.

Transcript Highlights:

• administers state or federal funds, its operating costs are completely self-supported through its lending
• mortgage lending.
• that may occur on eligible construction loans, which would incentivize them to offer construction lending
• It would incentivize liquidity providers to provide more capital for construction lending.
• It would incentivize liquidity providers to provide more capital for construction lending.

Summary: The committee opened with the State Controller’s Office May Revision requests, including funding for Fiscal book-of-record stabilization, a Broadcom IDMS licensing adjustment, the California State Payroll System, ACFR reporting automation, and $3 million for unclaimed property outreach. Testimony emphasized progress on Fiscal becoming the state’s accounting book of record in July, faster ACFR publication, and the move to electronic unclaimed property claims. Members asked about the size of the unclaimed property fund and how quickly money is transferred to the General Fund; the Controller’s office said about $15 billion is held, with most excess transferred regularly, and the LAO noted the fund is the General Fund’s fourth-largest revenue source. No concerns were raised by Finance or the LAO, and the item was closed after no public comment. The committee then heard the administration’s proposal to tax prewritten digital software and software-as-a-service, with Finance saying it would modernize sales tax treatment and raise an estimated $450 million General Fund and $560 million local revenue in 2026-27. The LAO supported modernizing the tax but suggested broader digital goods coverage and a business-use exemption; industry and taxpayer groups opposed the proposal, warning of higher costs for consumers and businesses. Members also heard CDTFA’s administrative request tied to the proposal, plus a separate CDTFA budget reduction reflecting lower operational needs; that reduction was presented as a savings item and drew positive reactions. Next, the committee considered federal conformity for “Trump accounts,” which would align California tax treatment with federal rules for tax-deferred children’s accounts and avoid tracking burdens for families. The LAO recommended approval, and the item drew no opposition. The committee also heard a proposal to cut the first-year $800 annual business tax to $400 for LLCs, LPs, and LLPs; Finance argued it would lower startup costs and encourage new business formation, while the LAO said the benefit was not well targeted and could subsidize entities that would form anyway. Members discussed the policy tradeoff, and public commenters split between support for small business relief and concern about revenue loss. The final major revenue item was a permanent business tax credit limitation, capping credits at the greater of $5 million per corporation or 50% of pre-credit liability, while excluding the low-income housing tax credit and personal income tax credits. Finance said it would raise significant revenue from large profitable corporations, and the LAO said it was a reasonable option but noted it would mainly affect the R&D credit and could have future implications for programs like California Competes. Public testimony was sharply divided, with business groups opposing the cap and anti-poverty advocates supporting it as a way to recapture revenue. The committee also heard FTB’s CalFile realignment request, which would return most of the direct-file-related resources to the General Fund while retaining a smaller staff to improve CalFile, and the California Arts Council’s request to reauthorize the Keep Arts in Schools voluntary contribution fund, which members and advocates supported despite relatively modest annual donations. The hearing continued with GoBiz proposals on civic media funding, CA RISE reappropriation, and a semiconductor facility reversion, with the LAO supporting the latter two and members raising questions about the civic media program’s scope, outreach, and inclusion of broadcast and ethnic media.

Transcript Highlights:

• capacity, of our cash on hand, and lends it to housing projects in particular, but can lend almost any
• capacity, of our cash on hand, and lends it to housing projects in particular, but can lend almost any
• capacity, of our cash on hand, and lends it to housing projects in particular, but can lend almost any
• </c><01:49:21.320><c> power</c> another 30 million in lending power another 30 million in lending power
• The VHFA money will be lending income.

Transcript Highlights:

• The new mortgage lending authority granted by the bill is intended solely to streamline financing for
• But if there's commercial lending that's happening here that is not backstopped by financial institutions
• I just do—we often make sure it does not become a competition to private lending banks—but today I will

Summary: The House Housing Committee met to executive several bills, with staff outlining proposed substitutes and key changes before members took a caucus break. House Bill 1974, the land bank bill, was described as removing several original provisions such as county authorization requirements, advisory boards, planning strategies, annual audits, surplus-property prioritization, and a grant program, while adding annual reporting and a real estate excise tax exemption. House Bill 2118, which would limit common interest community associations from imposing more restrictive use covenants than those in place when a unit was acquired, had no amendments but was not moved forward at this time. House Bill 2236, dealing with Housing Finance Commission authority, was explained as clarifying that the commission may not act as a retail mortgage lender or make loans for owner-occupied home purchases or refinancing, except for certain down-payment assistance loans, while adding an intent section to emphasize that the commission is not meant to compete with private lenders. Members debated whether removing language about using public funds could create taxpayer risk or a de facto state bank, but supporters said the changes modernize outdated law and clarify the commission’s role. House Bill 2269, concerning middle housing and on-site sewage systems in LAMIRDs, would restore broader county authority for middle housing in LAMIRDs while limiting sewage-system options based on whether the county is rural or non-rural. The committee voted to report House Bill 1974 out with a due pass recommendation by a 10-7 vote, with several members opposing or voting without recommendation over tax concerns. House Bill 2236 also passed out of committee with a due pass recommendation by a 13-4 vote after similar debate over public-funds language. House Bill 2269 passed unanimously by voice vote, and the committee adjourned after completing its executive action.

Transcript Highlights:

• I myself am celebrating my 31st year in residential lending and I've helped tens of thousands of families
• in residential lending.
• I myself am celebrating my 31st year in residential lending, and I've helped tens of thousands of families
• in residential lending.

Committee: Senate Community Affairs

Summary: The Committee on Community Affairs met with a quorum and heard two bills, a confirmation, and two agency presentations. SB 48 by Senator Gates would require local governments to allow voluntary accessory dwelling units, preserve homestead exemption for the owner-occupied portion, limit parking restrictions, require 30-day minimum leases, extend density bonuses for military-family housing, and allow reusable tenant screening reports. The bill drew strong support from the Florida Association of Mortgage Professionals and several others, and it was reported favorably on a unanimous roll call. SB 34 by Senator Sharief would expand the Historic Cemetery Program, particularly to help historic African-American cemeteries preserve and maintain themselves by allowing sale of excess vacant land only if proceeds are used for long-term upkeep; it also passed unanimously and was reported favorably. The committee also recommended confirmation of Fox Henderson to the Florida Housing Finance Corporation Board of Directors by unanimous vote. In addition, the Department of Commerce presented on the Community Development Block Grant Disaster Recovery program and Rebuild Florida, describing more than $4.3 billion in HUD disaster recovery funds since 2017, housing repair and replacement efforts that have completed more than 5,200 homes, and infrastructure and mitigation projects across the state. Members asked about average project costs, contractor oversight, corrective actions for deficient work, and clawbacks from a prior vendor; Commerce said it had ended the earlier vendor relationship, imposed about $3.6 million in financial consequences, and now uses stronger oversight and competitive procurement for contractors. The Division of Emergency Management then presented on Elevate Florida, a federal mitigation program that allows homeowners to apply directly for elevation, reconstruction, acquisition, or wind-mitigation projects, with a 75/25 federal-homeowner cost share and no state funds used. Director Kevin Guthrie said the program is intended to reduce repetitive flood losses, keep homeowners in their communities, and serve as a national model; he reported more than 12,000 applications, about 1,500 prioritized for review, 500 on a wait list, and 305 submitted to FEMA for final approval. Members asked about assistance for seniors who cannot meet the 25% match, the wait-list process, contractor selection, and the mix of project types, and Guthrie said contractors were selected through competitive procurement and that most projects are elevations, though some may become reconstructions or acquisitions depending on inspection results. The committee adjourned after the presentations.

Transcript Highlights:

• MMCDC brought experience and scale to the program, having 54 years of experience in lending and housing
• MMCDC brought experience and scale to the program, having 54 years of experience in lending and housing
• Specifically, we have been providing first mortgage lending and down payment assistance for 27 years,
• </c> training technical assistance lending training technical assistance lending and<00:11:22.399><c>
• </c> training technical assistance lending training technical assistance lending grants<01:26:56.679>

Committee: Senate Housing and Homelessness Prevention

Transcript Highlights:

• </c> and then lend it out in in that way. and then lend it out in in that way.
• The special purpose depositories are uninsured state-charter depositories that engage in non-lending
• The special purpose depositories are uninsured state-charter depositories that engage in non-lending
• So that's just a really critical function of banking is that ability to lend on low-cost deposits.
• So that's just a really critical function of banking: that ability to lend on low-cost deposits.

Summary: The meeting began with roll call and introductions of commission members and guests, followed by approval of the agenda and a motion to approve the February 10 minutes with a correction clarifying that one quoted statement was misattributed. The commission then moved into presentations. The main presentation came from the Conference of State Bank Supervisors on implementation of the federal GENIUS Act for stablecoins. The speaker reviewed the OCC’s recent 367-page proposed rule, noting it raises many open questions and design choices for states, and discussed expected upcoming rulemaking from the FDIC, Federal Reserve, and Treasury. The presentation focused on six areas: permissible issuer activities, reserve assets and redemption, risk management and supervision, treatment of state-qualified issuers, capital/operational backstops, and foreign issuers. It also flagged unresolved issues around Bank Secrecy Act/AML requirements and the meaning of “digital asset service provider” activities. A substantial portion of the discussion addressed yield restrictions, with the presenter explaining the OCC’s broad definition of yield and its rebuttable presumption against issuer-affiliated or related third-party yield arrangements. The speaker said this likely forecloses many existing white-label structures but leaves some room for third-party payments depending on distance from the issuer, and noted ongoing Senate debate over similar provisions. The presentation also covered reserve valuation, liquidity and diversification requirements, redemption timing, and supervisory expectations such as third-party oversight, IT security, exam cycles, and reporting. No additional votes or formal actions were taken beyond approving the amended minutes.