Bills: SJR60, SJR62, SJR65, SJR66, SJR67, SJR68, SCR27, SCR28, SCR29, SB1576, SB1577, SB1578, SB1579, SB1580, SB1581, SB1582, SB1583, SB1584, SB1585, SB1586, SB1587, SB1588, SB1589, SB1590, SB1591, SB1592, SB1593, SB1594, SB1595, SB1596, SB1597, SB1598, SB1599, SB1600, SB1601, SB1602, SB1603, SB1604, SB1605, SB1606, SB1607, SB1608, SB1609, SB1610, SB1611, SB1612, SB1613, SB1614, SB1615, SB1616, SB1618, SB1619, SB1620, SB1622, SB1623, SB1624, SB1625, SJR60, SJR62, SJR65, SJR66, SJR67, SJR68, SCR27, SCR28, SCR29, SB1576, SB1577, SB1578, SB1579, SB1580, SB1581, SB1582, SB1583, SB1584, SB1585, SB1586, SB1587, SB1588, SB1589, SB1590, SB1591, SB1592, SB1593, SB1594, SB1595, SB1596, SB1597, SB1598, SB1599, SB1600, SB1601, SB1602, SB1603, SB1604, SB1605, SB1606, SB1607, SB1608, SB1609, SB1610, SB1611, SB1612, SB1613, SB1614, SB1615, SB1616, SB1618, SB1619, SB1620, SB1622, SB1623, SB1624, SB1625

Keywords: SJR 60, Texas constitutional amendment, property tax exemption, ad valorem taxation, rainwater harvesting, graywater system, water conservation, water reuse, residential tax incentive, local government finance, county commissioners court, appraisal value, environmental incentive, November 2025 ballot, Article VIII, tax relief, healthcare workforce, education funding, higher education, economic growth

Transcript Highlights:

• in the Economic Opportunity Act, Congress established Upward Bound, the original federal college incentive
• in the Economic Opportunity Act, Congress established Upward Bound, the original federal college incentive
• Under those incentives, why would Morgan be interested in merging with Derby and lose that benefit?
• ,<04:06:03.560> didn't did provide some incentives, didn't did provide some incentives, didn't
• Act 46 did not realize a sufficient level of scale, even with incentives.

Keywords: 926, house, all

Summary: The House opened with a devotional by Representative Tiffany Lumley focused on lessons from horses and horsemanship, using the imagery to encourage legislators to lead, listen, stay patient, and remain attentive to constituents outside the chamber. The chamber then welcomed newly appointed Representative Kevin Scully of Burlington, who was sworn in and assigned to the Committee on Government Operations and Military Affairs. Members took up several procedural items and resolutions. Senate Bill 239, relating to a child abuse and neglect reporting working group and carrying an appropriation, was referred to Appropriations, and Senate Bill 157, relating to recovery residence certification and affecting state revenue, was referred to Ways and Means after a favorable report with amendment from Human Services. The House also read and adopted concurrent resolutions honoring the federal TRIO programs in Vermont, recognizing tourism economy day and the importance of the visitor economy, and honoring former Representative John Killacky of South Burlington for his artistic and legislative contributions. Multiple members offered personal remarks about John Killacky/Colacci, his arts career, activism, and service in the House, and guests connected to the resolutions were welcomed from the gallery. The House then concurred in the Senate proposal of amendment to House Bill 237, which would allow certain doctoral-level psychologists to prescribe medications. The committee explained the Senate’s changes, including revised training and rotation requirements, a later effective date, and a future OPR report, and said the bill was intended as one tool to address mental health provider shortages; the House agreed by voice vote. The chamber next began second reading of House Bill 955, a major education reform bill titled “next steps in transforming Vermont’s education system,” with the Education Committee describing mandatory cooperative education service areas, merger study committees, and related changes intended to improve efficiency, support local voice, and strengthen public education. No final action on H.955 was taken in the portion provided.

Transcript Highlights:

• call<02:18:02.319> it<02:18:02.880> is<02:18:03.040> an<02:18:03.280> incentive
• <02:18:03.599> in you want to call it is an incentive in you want to call it is an incentive
• we look at unintended consequences, the key unintended consequence is the creation of perverse incentives
• c> perverse consequence is the creation of perverse consequence is the creation of perverse incentives
• <02:25:37.439> If incentives within the system. If incentives within the system.

Keywords: 981, all

Transcript Highlights:

• One is the plan closure rate adjustment program, and the other one is the performance-based incentive
• The second item is a performance-based incentive program.
• incentive program or PIP.<00:41:57.960> The<00:41:58.080> first<00:41:58.440> one
• > performance-based second item is a performance-based second item is a performance-based incentive
• This pays for quality incentive program.

Keywords: 1187, senate, all

Transcript Highlights:

• This bill provides key financial support, technical assistance, and incentives for Vermont businesses
• 20.280> and support, tech- technical assistance, and support, tech- technical assistance, and incentives
• c> Vermont<00:19:21.760> businesses<00:19:22.320> of<00:19:22.520> all incentives
• for Vermont businesses of all incentives for Vermont businesses of all sizes<00:19:23.760> through
• Section 9 is important for our workforce development and that takes the sunset on the medical student incentive

Keywords: 927, senate, all

Transcript Highlights:

• Um, incentives to be looking at to encourage companies to do this.
• <00:59:26.320> at<00:59:26.480> to Um incentives to be looking at to Um incentives
• There's an incentive package for licenses.
• There's an incentive package for licenses.
• incentivized to would be incentive incentivized to provide<01:02:37.440> accessibility<01:02:

Keywords: 1187, senate, all

Transcript Highlights:

• So there's a perverse incentive built in to giving the money to them.
• going to create a perverse incentive going to create a perverse incentive there<00:36:51.680>
• So there's<00:36:59.400> a<00:36:59.440> perverse<00:36:59.920> incentive<00:37:
• 00.520> built<00:37:00.920> in<00:37:01.160> to there's a perverse incentive built
• in to there's a perverse incentive built in to giving<00:37:01.640> the<00:37:01.720> money

Keywords: 1187, senate, all

Transcript Highlights:

• First, the fund creates more incentive for scam victims to report fraud to law enforcement and the Attorney
• Second, the fund gives the Attorney General's office more incentive to pursue these cases without the
• First, the fund creates more incentive First, the fund creates more incentive for<01:18:45.040><
• c> pursue<01:19:11.679> these<01:19:12.000> cases<01:19:12.719> without incentive
• to pursue these cases without incentive to pursue these cases without the<01:19:13.280> chance

Keywords: 1183, house

Transcript Highlights:

• existing ability for uninsured motorists to sue for non-economic damages, HB 4961 creates further incentives
• And the incentive is for them to continue doing that because it boosts their U.S.
• So they actually have every incentive to enroll fewer students. Right.
• Well, that's what I was thinking of increasing the incentive to enroll students.
• Well, that's what I was thinking of increasing the incentive to enroll students, more students in law

Bills: HB2242, HB2446, HB2799, HB4502, HB2920, HB2790, HB5620, HB5060, HB5076, HB5080, HB5081, HB5128, HB5130, HB3847, HB5116, HB2969, HB4546, HB4202, HB5624, HB3964, HB4803, HB872, HB4775, HB4777, HB4961, HB5570, HB2988, HB4260, HB1375, HB5009, HB5411, HB5134, HB4388, HB3095, HB1387

Keywords: constables, civil rights, local government, law enforcement, policy-making authority, affidavit, medical bills, civil actions, reasonable charges, healthcare services, judicial statistics, court performance, family law, civil cases, efficiency reporting, court security, emergency management, harassment penalties, judicial safety, court committee

Summary: The committee heard House Bill 4961, which would bar uninsured motorists from recovering non-economic damages after a collision. The author said the bill is intended to create incentives to maintain insurance and to address what he described as an unfair system for insured drivers. Texans for Lawsuit Reform and Texas Eagle Forum testified in support, while the Texas Trial Lawyers Association opposed it, warning the bill could also affect pedestrians, passengers, children, and others who did not choose whether a vehicle was insured. The bill author clarified that passengers would be included in the bill’s coverage. No vote was taken and the bill was left pending. House Bill 5570 would extend a legislative attorney CLE exemption to attorneys appointed by the governor and confirmed by the Senate to boards or commissions. The author said the measure is meant to ease time burdens and encourage service, and a witness supported it as a modest incentive for public service. A committee member noted a discrepancy in the number of affected attorneys, and the author agreed to verify the correct figure. The bill was left pending. The committee also heard House Bill 2969, which would restrict the State Bar from adopting rules or penalties that unreasonably burden attorneys’ religious exercise or free speech based on sincerely held beliefs. The author and several witnesses from Texas Values, Alliance Defending Freedom, and Cecilia Wood argued the bill protects lawyers of faith from an ABA model rule they described as a speech code. No one testified against the bill, and it was left pending. House Bill 4260, which would prohibit county judges and county commissioners from practicing law in courts over which they have jurisdiction, drew opposition from the County Judges and Commissioners Association, which argued existing ethics rules already address conflicts and that the bill would burden rural officials. The author said the bill was prompted by concerns about judges using their office to pressure others. The bill was left pending. House Bill 5134 would limit Rule 202 pre-suit depositions to people who have suffered or reasonably expect actual damages and would allow attorney’s fees against abusive petitioners. The author said the bill is aimed at preventing harassment and fishing expeditions, especially in family-law disputes. Questions focused on how the standard would work and how it differs from current law; the author said the main change is fee-shifting and a clearer legislative directive. The bill was left pending. House Bill 3095, a committee substitute version of a similar uninsured-motorist bill, would bar uninsured motorists from recovering non-economic damages and limit economic recovery, with several exceptions. Trial lawyers argued it was unconstitutional because it capped economic damages and could unfairly affect innocent drivers, pedestrians, and older people who no longer drive. The author acknowledged constitutional concerns and said the bill would need further work; the committee withdrew the substitute and left the bill pending. Finally, House Bill 4388 would require all judges, including county judges who perform administrative duties, to remain subject to the Code of Judicial Conduct. Supporters said some elected judges avoid accountability by relinquishing judicial functions, while opponents argued the bill is too rigid and unnecessary because existing remedies already exist. House Bill 3964 would limit public nuisance claims to their historical role and bar such claims against lawful conduct, conduct already covered by other remedies, and products. The author and supporters said the bill is meant to prevent courts from using public nuisance to make policy, while opponents argued it would eliminate useful remedies and could affect local actions against environmental or product-related harms. The author said the bill would not affect statutory nuisance claims, private nuisance claims, or other causes of action, and would be amended to clarify some provisions. The bill was left pending.

Transcript Highlights:

• Um, reducing sustainable force incentive payments, uh, by 30%. safe to say that good majority of folks
• First, to share our concern and opposition to sections 4 and 7 affecting the calculation of incentive
• payments for the Sustainable Forest Incentive Act, or SFIA, which will reduce the payment rates and
• But I want to focus most of my time on the reductions to the Sustainable Forest Incentives Act found
• act found in article Forest incentives act found in article four<00:56:36.599> sections<00:56

Keywords: 919, house, all

Summary: The committee took up House File 2437, the governor’s proposed tax bill, and first adopted the A25-Z42 amendment to put the bill in the desired shape. Commissioner Paul Marquardt of the Department of Revenue then presented the bill as part of Governor Walz and Lieutenant Governor Flanagan’s budget, describing it as a response to budget pressures that would make the tax system more fair and stable while supporting economic development and jobs. Marquardt walked through the bill’s major provisions. These included sustainable aviation fuel policy, repeal of K-12 education credit assignment, elimination of the political contribution refund, expansion of the research and development credit, short-line railroad infrastructure modernization, changes to the state airport fund levy, replacement of attachments and appearances with distribution systems, a narrow personal property tax exception for low-income housing tenants, reduced aquatic invasive species aid, and a 34% reduction in PILT payments. He then focused on the sales tax article, saying it would lower the statewide rate by 0.75% while expanding the base to selected professional services such as accounting, banking, brokerage, and legal services, with business-to-business transactions exempt. He said the proposal would be effective for sales and purchases after September 30, 2025, and estimated a first-year rate-cut impact of about $99 million versus $215 million from the service expansion, while arguing that most households would see a net tax cut. He also noted other changes such as landlord penalty adjustments, a 30% reduction in sustainable aviation fuel incentive payments, repeal of local government cannabis aid, and repeal of the tax filing modernization account. Public testimony began with Kyle Playford of the Financial Planning Association of Minnesota, who strongly opposed the proposed sales tax on professional services, especially financial planning. He argued that financial planning is an essential service for retirement, investment, and long-term financial security, and said the tax would raise costs for consumers, reduce access for middle-class families, small business owners, and retirees, and put Minnesota firms at a competitive disadvantage. The chair then indicated that additional public testimony would continue before member questions.

Transcript Highlights:

• Cattle producers would have little or no incentive to engage in a lease with us to put their cattle on
• Cattle producers would have little or no incentive to engage in a lease with us to put their cattle on
• <00:34:05.200> property<00:34:05.519> owners<00:34:05.880> are incentives property
• owners are incentives property owners are voluntarily<00:34:06.760> engaging<00:34:07.240>
• As landowners, we are giving up a significant future financial incentive for development and agricultural

Bills: HF1698, HF632, HF1352, HF2197, HF618, HF1248, HF1697

Keywords: property tax, exemption, leased land, public use, commercial property, HF632, Minnesota property tax, conservation easement, conservation restriction, assessed value, property valuation, tax assessment, real property, land conservation, farmland preservation, natural areas, riparian buffer, water quality, water quantity, county assessor

Transcript Highlights:

• But I also just want to bring up here, I know they had various different incentives from the federal
• trying to get people to get second chances, the federal government recognizes there needs to be incentives
• different here I know they had various different here I know they had various different incentives
• from the federal government incentives from the federal government to<01:19:25.679> take<01:19
• recognizes there needs to be incentives recognizes there needs to be incentives and<01:19:39.560

Keywords: 1183, house

Transcript Highlights:

• This includes offering competitive salaries, providing financial incentives, and wanting to keep people
• in the profession and draft legislation that focuses on recruitment and retention and target the incentives
• This includes offering competitive salaries, providing financial incentives, and wanting to keep people
• This includes offering competitive salaries, providing financial incentives, and wanting to keep people
• in the profession and draft legislation that focuses on recruitment and retention and target the incentives

Keywords: 1183, house

Transcript Highlights:

• It would create the incentive to work quickly and hit a goal.
• It would create the incentive to work quickly and hit a goal.
• It would create the incentive to work quickly and hit a goal.
• It would create the incentive to work quickly and hit a goal.
• It would create the incentive to work quickly and hit a goal.

Keywords: 1191, senate, all

Transcript Highlights:

• , the drug I've got here, the person's on a $1,000 drug for four or five months, then there's no incentive
• So there's no incentive for them to want to change.
• <01:44:43.199> then<01:44:43.800> there's<01:44:44.040> no<01:44:44.280> incentive
• <01:44:44.679> for months um then there's no incentive for months um then there's no incentive
• c> them<01:44:56.760> to<01:44:56.880> want<01:44:57.000> to there's no incentive

Keywords: 1191, senate, all

Transcript Highlights:

• Massachusetts law, once it is passed, will add further legal support and market incentive for product
• manufacturers to label and ensure that all local companies also have that market incentive to do that

Keywords: 995, all

Summary: The Senate opened with the Pledge of Allegiance and then took up several bills and procedural matters. It adopted an emergency preamble and passed to be enacted a sick leave bank for Anisee Contreras of the Trial Court, and it also passed a bill reauthorizing the town of Swansea to issue additional on-premises liquor licenses. The chamber ordered several other bills to third reading, including a Wellesley bill on police and fire residency limits and a House bill on Commonwealth bond terms, along with multiple calendar items that were advanced without debate. The Senate then considered and passed the bill increasing access to disposable menstrual products in prisons, homeless shelters, and public schools. Senators Comerford and O'Connor spoke in strong support, describing the measure as a continuation of prior Senate action and a response to period poverty, with O'Connor highlighting community efforts by Free Period and related funding support. The bill was amended, ordered to a third reading, and passed to be engrossed by a unanimous roll call. The Senate also passed a bill on menstrual product ingredient disclosure after adopting a Ways and Means amendment; Comerford said the measure would require manufacturers to disclose ingredients and chemicals, citing concerns about PFAS and other harmful substances. That bill also passed to be engrossed by roll call. The chamber next took up a major public safety bill strengthening the move-over law. Senator Tarr described the bill as expanding protections to utility workers and disabled vehicles and adding escalating penalties, while Senator Feeney emphasized the dangers faced by workers on roadways and the need to protect them. Several proposed amendments were considered: one on municipally owned utility vehicles was adopted, while amendments on interior lights during stops, higher penalties, non-surchargeability, green lights for municipal emergency management vehicles, and public access to driving records were rejected or withdrawn. The amended bill was then ordered to a third reading and passed to be engrossed by a 39-0 roll call. The Senate also paused to honor the late Senator Edward J. Kennedy of Lowell, adopting a motion to adjourn in his memory after a tribute to his public service and community advocacy. Earlier, the chamber recognized a guest, Rocco LaGrasso, during Italian-American Heritage Month. The session ended with the Senate adjourning to meet again the following Monday at 11 a.m.

Transcript Highlights:

• reporting requirements for certain school districts, and authorizing the Career Technical Education Incentive
• reporting requirements for certain school districts, and authorizing the Career Technical Education Incentive

Summary: The Assembly Education Committee heard several Senate bills focused on student health, access, equity, and career preparation. SB 608 by Sen. Menjivar would expand access to condoms and related sexual health resources for students in grades 7–12 and direct the Department of Education to align with the California Healthy Youth Act. Supporters argued the bill would help address high STI rates among youth and remove barriers to access, while opponents raised concerns about parental authority, local control, and encouraging early sexual activity. The bill was approved on a 6-1 vote and sent to the Health Committee. SB 965 by Sen. Blakespear would prohibit libraries from requiring a parent to be physically present for a 16- or 17-year-old to obtain a library card, while still allowing libraries to require parental consent or signature. Supporters said the current rule creates unnecessary barriers for teens and school research projects, and the California Library Association said it was now neutral after amendments. The committee passed the bill 6-0 to Appropriations. SB 998 by Sen. Gonzalez would define and expand the duties of discrimination prevention coordinators in the state’s Office of Civil Rights, including adding a disability coordinator and deputy coordinators focused on anti-Black, anti-Asian, anti-Latino, and anti-Native American discrimination. Testimony emphasized the need to address rising hate incidents and discrimination in schools, especially for Black, LGBTQ+, AAPI, and other marginalized students. The bill was approved and sent to Judiciary with amendments to be processed there. SB 845 by Sen. Perez, which expands work-based learning and youth apprenticeship opportunities, also received broad support from education, workforce, and industry groups and passed unanimously to Labor and Employment. The committee also approved a consent calendar of additional bills and adjourned after all items were acted on.

Transcript Highlights:

• prevents them from passing that cost on directly to the patient, which then gives basically a perverse incentive
• PBMs are probably going to have an incentive to create a buffer for themselves to make sure that they're

Summary: The Senate Finance Committee met with eight members present and deferred HB 127. It then considered a series of bills, most of which were reported favorably without opposition. HB 22 revised COLA rules for the clerks of court retirement system, allowing more frequent COLAs when the system is better funded; HB 324 made judicial stipends permanent and added future COLAs subject to available funding; HB 233 increased jury mileage reimbursement; HB 47 reorganized assessor retirement COLA statutes; HB 533 allowed St. Tammany Parish to transfer unused witness-fee account balances to the 22nd Judicial District Court; HB 980 adjusted eligibility for the Firemen’s Supplemental Pay Board; HCR 45 urged Congress to clarify ARPA deadlines for water projects; HB 559 increased court costs in the 4th Judicial District; HB 290 recreated the Department of Treasury and related entities in statute; and HB 382 addressed Joint Legislative Committee on the Budget review authority over Group Benefits plans. The committee also reported HB 1157 favorably, creating a financing bank mechanism for infrastructure projects, and HB 575 favorably, giving youth aging out of foster care preferred access to surplus state vehicles through the Louisiana Property Assistance Agency. Several measures drew more discussion. HB 1236, dealing with pharmacy benefit managers and professional dispensing fees, prompted extensive testimony from the sponsor, the Legislative Fiscal Office, the Department of Insurance, independent pharmacies, and PBM representatives. Supporters said it clarifies and strengthens enforcement of existing PBM law and protects independent pharmacies; opponents argued the bill’s requirement that PBMs bear dispensing-fee costs would be difficult to implement and could raise premiums. The sponsor said he would work on amendments, including clarifying language and a delayed effective date, and the bill was nevertheless moved favorably. SB 25, on registrar of voters compensation, was amended to a revised pay structure and then reported favorably. HB 47 and HB 533 were also presented as funding and administrative cleanups for retirement and court-related accounts, with local support noted. The committee also heard HB 233 on jury duty mileage reimbursement, which the sponsor said updates a 1961 rate and would be funded locally at an estimated average increase of about $4,000 per judicial district. HB 324 on judicial salaries was described as self-funded by the judiciary and subject to available funding, with no budget impact. HB 575 on foster youth transportation was presented as a non-appropriation measure aimed at helping youth aging out of foster care by giving them preferred access to surplus vehicles. HB 382, which concerns the Joint Legislative Committee on the Budget’s role in approving Group Benefits plans, was reported favorably with little discussion. The meeting ended after a motion to adjourn.

Transcript Highlights:

• No, I mean, I would agree with the Senate President, and certainly we have looked at these incentives
• Speaker DeVille makes a motion to adopt the incentive expenditure forecast. Without objection.

Summary: The Revenue Estimating Conference met with four members present and first approved the prior meeting minutes and recognized the FYI end-of-balance of $577,077,871 as nonrecurring revenue. The main business was revising the state revenue forecast for FY 2026, FY 2027, and the long-range outlook. The Division of Administration recommended a $113 million reduction to the FY 2026 State General Fund forecast and a $104 million reduction for FY 2027, citing weaker-than-expected individual income tax collections, softer corporate income tax receipts, and some weakness in general sales tax, partly offset by stronger motor vehicle sales tax and higher mineral-related revenues tied to oil prices. The Legislative Fiscal Office presented a somewhat different but broadly similar forecast, with modest net increases to the general fund bottom line in the current year and next year, emphasizing caution on income and corporate taxes and more optimism on sales, severance, royalties, and some other revenue streams. A substantial portion of the discussion focused on the causes of the income tax shortfall, especially withholding and refund patterns after tax changes that lowered rates. Department of Revenue officials explained that withholding tables had been set with a cushion that may be producing larger refunds, and said changing the tables could quickly reduce overwithholding, though the effect would take time to show up. Members also discussed corporate collections, the lingering effects of the franchise tax repeal, the role of settlements and audits, and the extent to which collections are voluntary versus enforcement-driven. The Department of Revenue said corporate collections still had key filing and estimated-payment milestones ahead in May and June, and that refund and audit activity related to the former franchise tax would continue for some time. The conference then adopted the Division of Administration’s FY 2026 forecast, the FY 2027 recurring forecast, and the long-range forecast, along with the proposed inflation rates for the Millennium Trust and parish severance allocation. Members also adopted the incentive expenditure forecast, noting that the reported amount is only the REC-reported portion and that larger tax exemption amounts come off the top before appropriations. The Treasurer reported a General Fund cash balance of about $404.1 million as of May 5, 2026, and an interfund borrowing base of about $9.18 billion, saying cash levels were similar on average to the prior year. The meeting ended with a note that another REC meeting might be needed depending on the May 16 election, and the conference adjourned without objection.

Transcript Highlights:

• No, I mean, I would agree with the Senate President, and certainly we have looked at these incentives
• Speaker DeVille makes a motion to adopt the incentive expenditure forecast. Without objection.

Keywords: 965, house, all

Summary: The Revenue Estimating Conference met with four members present and first approved the December 11, 2025 minutes. Members then recognized the FYI end-of-balance of $577,077,871 as non-recurring revenue. The main business was revising the state revenue forecast for FY 2026, with the Division of Administration recommending a reduction of about $113 million, driven primarily by weaker individual income tax collections, softer general sales tax receipts, and a substantial cut to corporate income tax forecasts. The Legislative Fiscal Office presented a somewhat different but still cautious outlook, and members discussed withholding rates, refund growth, corporate collections, and the effects of the franchise tax repeal and tax reform changes. After questions to the Department of Revenue about collections, refunds, enforcement, and settlements, the conference adopted the Division of Administration’s FY 2026 forecast. The conference then reviewed the FY 2027 recurring forecast. The Division of Administration again recommended a reduction, this time about $104 million, citing continued caution on individual income and corporate taxes, while the Legislative Fiscal Office projected a net increase of about $127 million, largely from sales tax, severance, royalties, vehicle sales tax, and other revenue streams. Members discussed the practical budget impact of the revised forecasts, including the need to reduce spending and the difficulty of funding a possible teacher stipend if a constitutional amendment fails. The FY 2027 recurring forecast was adopted. Members also adopted the long-range forecast, the proposed inflation rates for the Millennium Trust and parish severance allocation, and the incentive expenditure forecast. The incentive discussion noted that reported incentive costs reduce available revenue before appropriations, and members raised the possibility of reviewing or capping such incentives. The Treasurer’s Office then reported that the General Fund cash balance was $404.1 million as of May 5, 2026, and the interfund borrowing base was about $9.18 billion, with cash positions generally similar to the prior year. The meeting ended with a note that another REC meeting might be needed after the May 16 election, followed by adjournment.