Transcript Highlights:

• The net benefit is almost $9 million after paying those? That's correct.
• to the same extent that the current generation is benefiting.
• to the same extent that the current generation is benefiting.
• So this is really in the benefit of the plan.
• But the profits flow back here, we're still getting some benefit.

Committee: Joint Legacy and Budget Stabilization Fund Advisory Board

Transcript Highlights:

• I do think the cost-benefit analysis would be prudent. Any other discussion?
• I do think the cost-benefit analysis would be prudent. Any other discussion?
• The net benefit is almost $9 million after paying those? That's correct.
• to the same extent that the current generation is benefiting.
• So this is really in the benefit of the plan.

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:

• The net benefit is almost $9 million after paying those? That's correct.
• to the same extent that the current generation is benefiting.
• These are benefits that lie in front of you while you sit in these seats.
• So this is really in the benefit of the plan.
• But the profits flow back here, we're still getting some benefit.

Committee: Joint Legacy and Budget Stabilization Fund Advisory Board

Summary: The committee met with a quorum, approved the October 22 minutes, and received an update on the planned Legacy Fund transparency website. Jody Smith said the site is in contract negotiations after six bidders responded, with a target go-live around November 1 after added security review. The website is intended to provide downloadable, more detailed public information on the Legacy Fund, including historical changes, legislative allocations, and investment breakdowns. Members asked about comparables and data detail, and Smith said North Dakota would likely be the first state to offer this level of sovereign wealth fund transparency. Scott Anderson of the Retirement Investment Office then reviewed Legacy Fund performance through January 31, 2026, describing strong returns, low fees, and the benefits of diversification. He noted that real estate had been a drag on returns, but it is a small portion of the portfolio, and he discussed market effects from geopolitical events, inflation, credit spreads, and private credit. Members also questioned the in-state investment program and the BND CD-Match program. Representative Bosch moved to pause new transfers to the CD-Match program until the bank reports back, and the motion passed on a roll call vote. The committee also agreed to request a cost-benefit analysis from RVK on that change. After lunch, the committee heard from RVK consultant Jim Voidko on the investment policy statement, focused on the in-state investment provisions. He reported that, after interviews with implementers and stakeholders, RVK found no major policy impediments in the current IPS and no strong calls to change the size limits or core guardrails. He emphasized the importance of risk-adjusted returns, diversification, pacing, exit strategies, and governance, and warned that foregone returns or higher spending obligations can pressure the fund’s long-term mission. He also recommended clearer terminology around “infrastructure,” distinguishing public infrastructure from commercial infrastructure, and noted unresolved policy questions about nexus and economic diversification. The committee then began reviewing proposed IPS updates with Rio staff.

Transcript Highlights:

• and have members who would benefit from them.
• And so I can see the benefits of all that.
• We're not doing it to benefit big tech or California; we're trying to do it to benefit everyone.
• What can we do to make this benefit you?
• be one of economic benefit and development.

Committee: House Science, Technology & Telecommunications Committee

Transcript Highlights:

• There are many benefits to having just one statewide student information system.
• Some of the most important benefits are faster and easier student transfers.
• That is a big time saver as well and such a benefit for the family.
• So a lot of benefits, particularly to. state internal transfers.
• To ensure these benefits are realized, there are training requirements in place.

Transcript Highlights:

• We've already seen the economic benefits and the benefits to our community.
• It's just, it's really been a benefit.
• And the benefit is all the programming you can get. Year for this surcharge.
• There is also a significant water conservation benefit to these treatments.
• There is also a significant water conservation benefit to these treatments.

Bills: SB47 , SB110 , SB122 , SB143 , SB168

Committee: Senate Senate Conservation

Transcript Highlights:

• , which will result in reductions in actual SNAP benefits.
• Some individuals will roll off or see their benefits reduced.
• Our monthly benefits will be reduced, with 16,000 New Mexicans expected to lose SNAP benefits due to
• This is really designed to keep people on their benefits.
• I'm talking about for benefits.

Committee: House Legislative Health & Human Services Committee

Transcript Highlights:

• Notice of certain reprimands, judicial compensation, and related retirement benefits and reporting of
• 1840 by Gehan relating to the eligibility of certain individuals to purchase Medicare supplement benefit
• Relating to the pre-authorization of certain benefits by certain health benefit plan issues refer to
• HP 2319 by Hernandez relating to the cost of living increases applicable to certain benefits paid by
• HB 2387 by Leo Wilson relating to the entitlement of benefits for chaplains employed by certain fire

Transcript Highlights:

• The goal is to better align their benefits with the cost of the under-65 health plan.
• with the cost of the their benefits with the cost of the under<00:02:57.519><c> 65</c><00:02:58.519>
• </c><00:05:54.240><c> will</c> 10.5% funded the increase benefit will 10.5% funded the increase benefit
• And clearly we think that's a benefit. So, uh, any questions on point two?
• And clearly we think that's a benefit. Uh, any questions on point two?

Summary: The Senate Standing Committee on State and Local Government heard testimony on Senate Bill 10, which would revise CERS retiree health subsidies for members who began participating on or before July 1, 2003. Senator Mills said the bill was developed with employee and employer groups to improve retiree health benefits while protecting the system’s financial footing, using a shared-cost structure. Testimony from sheriffs, police chiefs, firefighters, and the League of Cities strongly supported the bill, emphasizing recruitment and retention, affordability of retiree health coverage, and limited taxpayer risk. Members echoed those points, and the committee approved SB 10 with a 9-0 favorable recommendation. The committee then took up Senate Bill 65, sponsored by Senator West, which would codify the Administrative Regulations Committee’s annual practice of placing certain deficient regulations into statute so they cannot take effect. West explained that the committee’s role is limited to finding regulations deficient or asking for deferral, and that SB 65 is the fifth version of this measure. He described the specific regulation at issue as a Medicaid Services rule that would have required behavioral health associates to hold a master’s degree; providers testified that it would reduce the workforce and harm behavioral health services statewide. West said the committee had deferred the matter eight times before deciding to side with providers. The bill received favorable expression and was reported out. Finally, the committee heard Senate Bill 104, sponsored by Senator Madon, concerning Kentucky Deferred Comp for state employees. The bill would establish a codified fiduciary standard, authorize fiduciary liability insurance, add self-correcting mechanisms to keep the plan in compliance with federal law, and allow self-directed brokerage accounts. Personnel Cabinet representatives said the changes would align the plan with other public pension plans, reduce risk, and offer participants a useful investment option with strong account growth among users. SB 104 also received favorable expression and was reported to the floor. The committee then adjourned.

Transcript Highlights:

• Uh, create a trust to, on their death, for retirement benefits to go into that and provide some level
• uh, this allows these trust funds to allow for that child to still receive, in cases like waiver benefits
• It does not affect like waiver benefits.
• </c><00:23:29.760><c> a</c><00:23:30.080><c> certain</c> trust is to benefit a certain trust is to benefit
• </c> state for Medicaid benefit. state for Medicaid benefit. &gt;&gt; Thank<00:25:18.480><c> you.

Committee: Senate State & Local Government

Transcript Highlights:

• Come on up, sir, benefit assistance and status of our state veterans nursing homes.
• Those are federal benefits, state benefits, and even local benefits for veterans.
• And I really want to connect them to the benefits they earn and deserve.
• You have our benefits guide; I'll talk about in a second in other ways.
• The older veteran population, very engaged in connecting to their benefits.

Summary: The committee first heard a presentation from Major General James Hartzell of the Florida Department of Veterans’ Affairs on the agency’s outreach, benefits assistance, and state veterans nursing homes. He highlighted Florida’s large and growing veteran population, the decline in World War II and Vietnam-era veterans, and the increase in post-9/11 veterans moving to the state. Hartzell discussed the state veterans nursing home system, including a new Collier County facility that will include skilled nursing, assisted living, adult day health care, and outpatient therapy, and he said the department is also studying future adult day health care expansion and possible additional homes in underserved areas. He also reported on the dental program funded by the Legislature, saying 245 veterans were served in the first quarter of the fiscal year, with 1,631 procedures completed and more than $525,000 in savings, and he credited the added state veterans service officer positions with helping connect more veterans to benefits. Hartzell also noted a 13% year-over-year reduction in homeless veterans, emphasized mental health outreach through SaveFLVets.org and the Overwatch program, and announced a new deputy executive director, retired Colonel D.J. Reyes. Members asked about the need for additional veterans homes in South Florida, the criteria used to site new homes, the homeless veteran reduction, and whether adult day health care could be added at existing facilities. Hartzell explained that federal criteria focus on the availability of private skilled nursing beds for veterans 65 and older, and that adult day health care is state-funded and being studied for broader deployment. He also said the department tracks where homeless veterans are concentrated and works with local partners and organizations like Tunnels to Towers to provide housing and services that reduce recidivism. The committee also discussed Florida’s national reputation for veteran support, including Veterans Month and the state’s culture of veteran awareness. The committee then received a presentation from Kevin Guthrie, Executive Director of the Florida Division of Emergency Management, on disaster response, recovery, and technology systems. Guthrie described the State Emergency Response Team, the new Florida Central Operations and Coordination Office in Auburndale, and the new State Emergency Operations Center in Tallahassee, which is expected to be fully operational by spring 2026 and will significantly expand capacity and hardening. He reviewed recovery efforts for Hurricanes Helene, Milton, Debbie, Idalia, Ian, Irma, Michael, Dorian, Sally, Nicole, and others, including sheltering, travel trailers, debris removal, and FEMA reimbursement totals. Guthrie said Florida removed more than 31.6 million cubic yards of debris from Helene and Milton in 90 days on a 24/7 basis, and he described Elevate Florida, the Florida Recovery Obligation Calculation (FROC), the DEMES platform, and WebEOC as tools to streamline recovery, mitigation, and intergovernmental coordination. Members asked about flood-response resources for cities, the state’s use of pumps and mutual aid, and lessons learned from inland flooding after Milton. Guthrie said local governments should first use county and city mutual aid, then request state assistance when needed, and he encouraged more partnerships for staging and maintaining flood equipment. He also said future flood mitigation must address outdated development patterns, watershed flow, and the need for better drainage planning, while continuing temporary fixes and homeowner assistance programs. The committee ended with no votes or formal actions beyond adjournment.

Transcript Highlights:

• The second part is the state education benefit called the Hazelwood exemption.
• It relates to everything from education benefits associated with Hazelwood.
• Educate them on the benefits of being in politics, and it's quite an honor.
• to education benefits.
• at 61 days once you're incarcerated, your benefits go out the door.

Committee: House S/C on Defense & Veterans' Affairs

Transcript Highlights:

• The Committee on Ways and Means, to whom was referred the House bill relative to benefits for teachers
• Third reading of the bill, an act relative to benefits for teachers, House No. 4361.
• To qualify for the benefit, teachers must complete at least 30 years of credible service, serve as a
• They've earned this benefit. They deserve it.
• And taking those benefits hostage is something that's deeply concerning, Madam President.

Transcript Highlights:

• or drug benefits or something like that.
• But I will say that this certainly helps, and it has other benefits.
• I would like to see the federal law that, because Office of Group Benefits is supposed to be benefiting
• I've reached out to group benefits.
• I've reached out to group benefits.

Committee: House Insurance

Summary: The House Insurance Committee met on April 15 and first considered HB 909, which would require commercial health insurance coverage for behavioral health crisis services. Representative Spell and Office of Behavioral Health interim assistant secretary Dr. Holly Howitt described the Louisiana crisis response system, the goal of reducing emergency room and 911 use, and the need to expand provider participation beyond Medicaid. A technical amendment and a stakeholder-driven amendment allowing insurers to require documentation of crisis, medical necessity, and follow-up plan were adopted, and the bill was reported as amended with support cards from several health care and local government entities. The committee then advanced HB 1151, which changes investment limits for domestic insurers, especially life insurers, by capping equity holdings and aligning the rules with solvency concerns. After questions about whether the bill would increase profits at consumers’ expense, the author and Department of Insurance staff explained it was intended to provide guardrails and keep insurers solvent; the bill was reported favorably. HB 1154, dealing with prior authorization for certain generic medications, also received technical and substantive amendments. The bill would generally eliminate prior authorization for non-opioid generics, with a $250 wholesale acquisition cost cap and physician-specialty exceptions; it was reported as amended after support testimony from the Louisiana Dermatological Society and other health groups. HB 869, which sought coverage for injectable drugs used for glucose control or weight loss, prompted extended debate over cost, obesity, and long-term savings. Several members raised concerns about premium increases and the large fiscal note, while the author argued the bill was preventive and could save money over time. Representative Jordan proposed a 25% coverage amendment, but the committee declined to take up the substantive amendment that day, and the bill was voluntarily deferred to the next meeting. Later, the committee reported HB 1196 favorably, clarifying that screening colonoscopies remain screening even if polyps are found, and HB 1176 favorably, restoring Medicare Advantage coverage for certain integrative cancer care services. The committee also heard HB 771, which would have changed Medicare coordination rules for retirees who return to state employment, but staff explained the issue is governed by federal CMS rules and preemption concerns; the bill was voluntarily deferred so the author could review the governing law. HB 751, dealing with term life insurance disclosures, was likewise voluntarily deferred after the author said more work was needed and noted concerns about existing law and consumer understanding. At the end of the meeting, the committee also deferred HB 920 and HB 1199 to the following week and briefly stood at ease before moving on to other business.

Transcript Highlights:

• But if they do get remarried, then that is a benefit that ends there.
• That's why the benefit cannot continue. Thank you, Mr. Chair. Representative Roberts.
• There were no benefits for me staying in Missouri at that particular time in life.
• This isn't just about veterans' benefits, and he nailed it on the head.
• In his version, if a county opts in, it must provide the full 100% benefit.

Committee: House Veterans and Armed Forces

Summary: The committee met with a quorum and first went into executive session, where it adopted committee substitutes and voted do pass on House Bills 383, 2940, and 1869 by unanimous roll-call votes. The chair then moved to public hearings and announced shortened testimony times because of the late hour. A large portion of the hearing focused on several nearly identical proposals to provide property tax relief to disabled veterans and, in some versions, surviving spouses. Representatives Jobe, Crosley, Bolerking, Schmidt, and Jones described different approaches: tiered exemptions based on VA disability ratings, homestead-based exemptions, county opt-in or opt-out provisions, sunsets, and in some bills relief tied to assessed value or personal property/vehicle taxes. Committee members raised questions about acreage limits, transfer of benefits to new residences, remarriage of surviving spouses, annual recertification, and whether counties should have discretion. Several witnesses in favor, including veterans and veterans’ advocates, urged broader eligibility, especially for 100% permanent and total veterans and those with individual unemployability, and argued the benefit would help veterans remain in Missouri. A public advocate opposed the bills on fiscal grounds, citing large projected costs to local governments, school districts, and state funds. The committee also heard testimony from veterans and advocates on the importance of recognizing spouses and families, and on the need to avoid burdensome county administration. Representative Schmidt presented two related bills, one offering a percentage-based property tax discount and another creating a homestead tax credit with county participation and a market-value cap; members discussed combining the measures and revising sunset and spouse language. Representative Jones presented bills extending relief to 100% disabled veterans and to personal property/vehicles, emphasizing that counties could opt in and that the credit should not shift costs to other taxpayers. The hearing ended before the final witness finished, and the committee adjourned.

Transcript Highlights:

• And also a veteran that's 100% disabled, and so therefore he saw the benefit in this.
• Yes, the amendment is to narrow the scope of the benefits defined under veteran benefits. to bring down
• the fiscal note of the costs of these benefits.
• Veterans receive copious sums of money in education benefits and job training.
• I am a recipient of VA benefits, no doubt.

Committee: House Veterans and Military Affairs Division

Transcript Highlights:

• their testimony, that they should be treated the same as any other firefighter and their retirement benefits
• for accidental disability death benefits under Chapter 32, Section 9-1.
• The claim that was filed was denied for death benefits by the State Board of Retirement.
• Kids here have benefited from my perspective, empathy, and worldview.
• I am here to testify in support of House Bill 2757, an act to ensure fairness in retirement benefits

Committee: Joint Joint Committee on Public Service

Summary: The Joint Committee on Public Service held a hearing on a wide range of credible service and retirement-related bills, with testimony largely focused on allowing public employees to buy back prior service time or receive more appropriate retirement classifications. Bills discussed included retirement buyback for Joint Base Cape Cod firefighters (H. 4317), clarification of call firefighter buyback rights (H. 2883/S. 1915), veterans’ buyback (H. 2957), a Bridgewater State University police death-benefit/heart-law issue (filed by Rep. Gallagher), unpaid parental leave buyback for municipal employees (H. 2946), school nurse creditable service (H. 2887/S. 1787), former private/parochial school teacher buyback (S. 1900/H. 2873), Massport police retirement classification (S. 1888), contract employee buyback (H. 2795), Retirement Plus late entry (H. 2792), CVTE/teacher-related buyback issues (H. 2762), Peace Corps/AmeriCorps creditable service (H. 2927), and institutional school teacher retirement fairness (H. 2757). Several speakers also referenced related bills for teachers and nurses that had been heard previously or were filed in parallel in the other branch. Testimony was overwhelmingly in support of the bills. Speakers argued that the measures would correct inequities, recognize prior public service, and help recruit and retain workers in hard-to-fill public jobs. Firefighters described the unique federal-to-state transition at Joint Base Cape Cod and said some members were left out of earlier buyback opportunities. Veterans, teachers, school nurses, correctional educators, and Massport police all described service requirements, administrative gaps, or outdated statutory language that they said unfairly limited retirement credit or placed them in the wrong retirement group. Several witnesses emphasized that the proposals were fiscally responsible because employees would pay the cost of the buybacks, and some noted that similar bills had been filed repeatedly in prior sessions. Committee members asked a few clarifying questions, mostly about why certain employees had been excluded under current law or how the retirement provisions would work. No opposition testimony was presented. The hearing concluded after all scheduled witnesses testified, with the chairs thanking participants for their service and the committee voting to adjourn.

Transcript Highlights:

• Operating expenses are predominantly made up of employee costs, like salaries and benefits, and then
• I do represent a group of counties that pool together for health benefits that are covered under this
• The rule establishes a uniform order of benefit determination to reduce duplication of benefits and ensure
• insurance benefits for a covered life, if an individual, if that individual, if that... ...insurance
• Chairman: on page 104 there's the provision regarding covered benefits and limitations, and it changes

Committee: Senate Commerce and Human Resources

Transcript Highlights:

• It doesn't add any benefits, just... ...solidifies what we currently have.
• Had I passed away during COVID, there would be no benefit to my family.
• I mean, so we're saying that retirement plans have no benefit to retention?
• One of those is the assignment for the benefit of creditors.
• can assign its assets for the benefit of a creditor. Yield for questions.

Bills: HB3041 , HB4428 , HB4429 , HB1064 , HB3265 , HB3721 , HB3028 , HB3313 , HB3588 , HB3020

Committee: House Banking, Financial Services and Pensions

Summary: The Banking, Financial Services and Pensions Committee met and announced that several bills would be laid over, including HB 4225 and HB 4263, while also noting that actuarial follow-up reports on prior referrals were still being revised. The committee then worked through a long agenda, with members frequently noting schedule conflicts and the chair alternating between bills and committee business. The meeting adjourned after the agenda was completed, with the chair saying the committee would return the following week with a longer agenda, likely including additional pension bills. Several bills related to payment processing and pension governance were heard and passed. HB 3041 would allow merchants to pass along credit card surcharges up to the amount charged by the card company, with the author noting some businesses face fees of 4% to 5%; it passed 9-0. HB 4428 and HB 4429, both dealing with shareholder proxy advisors for pension funds, passed 8-1 and 9-0 respectively; supporters said the bills would require fiduciary standards and transparency, while the speaker referenced opposition from GreenAmerica.org as evidence of the bill’s value. HB 3028, which lets technology center districts and public schools pass on credit card service fees, also passed 7-0. The committee also advanced several pension-related measures. HB 3265, requested by the Police Pension Board, defines who qualifies as a mental health specialist for disability evaluations; testimony explained the change would let the board use psychologists because psychiatrists are harder to contract with, and the bill passed 7-0. HB 3721 would adjust the DROP benefit for public safety officers so surviving spouses can claim it if the officer dies before electing the option; the author said it has no actuarial cost, and it passed 7-0. HB 3313, a defined contribution retirement bill, would raise contribution levels, eliminate vesting delays, and add retirement planning and lifetime income options; members questioned whether it would affect retention or other retirement plans, and it passed 8-0. Other bills addressed creditors, housing, and financial exploitation. HB 3588, a Uniform Law Commission request bill on assignment for the benefit of creditors, was described as codifying existing case law and passed 8-0. HB 1064, which would restrict large institutional investors from buying single-family homes in Oklahoma, was amended in concept during discussion to narrow the hedge fund definition and remove a resale requirement; supporters framed it as protecting homeownership, while opponents raised concerns about restricting sales and the evidence for housing impacts, and it passed 5-2. Finally, HB 3020, the Protections for Financial Exploitation of Protected Adults Act, would let financial institutions place temporary holds and act in good faith when they suspect fraud against vulnerable adults; members asked about training and safeguards, and it passed 9-0.

Transcript Highlights:

• </c> ultimately get their earned benefits. ultimately get their earned benefits.
• </c> benefits and food stamps in this body. benefits and food stamps in this body.
• on SNAP benefits, too.
• on SNAP benefits, too.
• </c> benefits of history as well as healing. benefits of history as well as healing.