Transcript Highlights:

• With me today is Andrew Lucchetta from the Center for Responsible Lending, who...
• With me today is Andrew Lucchetta from the Center for Responsible Lending, who will provide a technical
• I’m Senior Policy Counsel at the Center for Responsible Lending.
• . ...which better aligns the bill with traditional consumer lending and avoids unintended impacts on
• That can reduce lending capacity in the very communities undergoing recovery.

Committee: House Banking and Finance

Transcript Highlights:

• Right, but for the mortgage lending piece that would be like for the direct lending that the commercial
• But by removing the statute's 1983-era restrictions on direct lending and use of public funds, SSB 6018
• We are not lending on the entire development. We are a participant lender as envisioned here.
• For decades, we know that state and federal policies, including redlining, exclusionary lending, and
• For decades, we know that state and federal policies, including redlining, exclusionary lending, and

Bills: SB6256 , SB6275 , SB5868 , SB5954

Committee: Senate Ways & Means

Keywords: tax exemptions, affordable housing, nonprofit, unoccupied property, housing policy, community reinvestment, economic development, local investment, financial assistance, SB 5868, superior court, judge, judgeship, judicial vacancy, court administration, Skagit County, Yakima County, RCW 2.08.061, Washington courts, county judges

Transcript Highlights:

• I will just tell you, based on my experience in banking, that back in the 90s... when home equity lending
• It's national companies that are lending the funds, and it's national title companies that work with
• One of the issues we've heard a lot of publicity about lately is problematic lending related to solar
• number of homes that have been foreclosed on, is very minimal in terms of the overall percentage of lending
• activity that occurs in Texas related to home mortgages and home equity lending.

Bills: HB1342 , HB2889 , HB3002 , HB3254 , HB4820 , HJR40 , HJR40

Committee: House Pensions, Investments & Financial Services

Keywords: private activity bonds, housing, residential rental projects, low-income, affordable housing, bond measures, funding equality, political subdivisions, public communications, election fairness, debt collection, consumer rights, disclosures, Fair Debt Collection Practices Act, settlement agreements, State Board of Education, group benefits program, health insurance, state employees, dependents eligibility

Transcript Highlights:

• Idaho Code 67-1210B, which deals with the state treasurer's authority to continue certain securities lending
• This was a transitional lending arrangement, and it was terminated in 2015.
• Idaho Code 67-1210B, which deals with the state treasurer's authority to continue certain securities lending
• This was a transitional lending arrangement, and it was terminated in 2015.

Committee: House State Affairs

Transcript Highlights:

• This is the only direct lending that we do.
• The participation lending vertical and the student loan vertical are really our two profitable verticals
• Student lending is highly regulated.
• Don, what is the market rate currently for student lending? Mr.
• That correlation between deposits and ability to do the lending programs is 100%.

Summary: The committee took roll, approved the March 18 minutes, and then received a compliance-report update on the Industrial Commission and related funds and programs. Staff reviewed the status of one-time appropriations and grant programs, including electric grid resiliency, lignite research, enhanced oil recovery, the Clean Sustainable Energy Authority, the salt cavern business-case study, and the new NDSU research and technology park grant. Members asked about funding balances, reimbursement timing, matching requirements, and how some commitments would affect the State Investment Fund and future biennia. Industrial Commission staff then gave a broader update on the agency’s administrative office, grant management system, leadership transitions at several commission agencies, and active grant rounds. They reported that the grant management system is nearing completion, that several agency leadership searches have concluded, and that the commission’s grant programs currently have 108 active grants totaling more than $165 million. They also described the Clean Sustainable Energy Authority round, the oil and gas research program’s enhanced oil recovery awards, the grid resiliency grants, the salt cavern study, and the research technology park program, noting that some projects are awaiting federal funds or additional matching cash. Ron Ness, speaking for the Oil and Gas Research Council, focused on the state of the oil industry and the enhanced oil recovery “Bakken 2.0” effort. He said production remains steady, but future growth depends on better infrastructure, longer laterals, and new EOR methods such as CO2, natural gas, and surfactants. He emphasized the importance of the Bakkeneast pipeline and related gas-utilization projects, the recent DOE funding that will return some money to the research council, and the need to modernize tax and incentive rules for CO2-based recovery. Members discussed the potential economic benefits for oil, agriculture, and manufacturing. The Bank of North Dakota then presented its compliance report and a broader strategic update. Bank leadership reviewed the bank’s mission, governance, participation lending, student lending, disaster programs, and legislatively directed programs, and said the bank is managing for a flatter deposit base and stronger liquidity because of fintech competition and changing market conditions. They reported improved earnings, with net income rising to about $231 million, and described Rough Rider Coin as a new internal payment rail for North Dakota banks and credit unions, not a public cryptocurrency. Members asked about student loan eligibility, disaster lending, and the bank’s capacity to support state programs while maintaining its balance-sheet and liquidity requirements.

Transcript Highlights:

• Um but it's banks are doing lending.
• So, Nathan, did you say that they are lending to you at the 15% rate, right?
• . >> Are they lending to you at all?
• </c> lending to you at the 15% rate, right? lending to you at the 15% rate, right?
• </c> &gt;&gt; Are they lending to you at all? &gt;&gt; Are they lending to you at all?

Committee: Senate Judiciary

Transcript Highlights:

• One of our newer programs is the meat and poultry intermediary lending program. It's a mouthful.
• One of our newer programs is the meat and poultry intermediary lending program. It's a mouthful.
• One of our newer programs is the meat and poultry intermediary lending program. It's a mouthful.
• One of our newer programs is the meat and poultry intermediary lending program. It's a mouthful.
• One of our newer programs is the meat and poultry intermediary lending program. It's a mouthful.

Bills: HF770 , HF857 , HF38 , HF1500 , HF43

Committee: House Agriculture Finance and Policy

Keywords: HF770, Rural Finance Authority, RFA, capital investment, state bonds, general obligation bonds, bonding bill, agricultural loans, farm loans, beginning farmer, new farmer, seller-sponsored loans, loan restructuring, agricultural improvement loans, livestock expansion, modernization loans, rural development, Minnesota agriculture, farm credit, chapter 41B

Transcript Highlights:

• What lending products are out there that allow us to buy a home that we’re building equity?
• Lenders don't want to lend.
• So construction lending is the engine that makes a development possible.
• So think of construction lending as the first domino.
• And our lending is the old traditional model from back in the '30s, right?

Summary: The committee heard testimony on several housing-related proposals and policy ideas. One speaker urged changes to the welfare property tax exemption for affordable housing, arguing that annual income recertifications are outdated and burdensome, and proposing a one-time qualification at move-in, streamlined monitoring through TCAC or HCD, and continued exemption protection for projects that remain in compliance. The witness said rising insurance costs and administrative burdens are hurting cash flow and threatening the viability of affordable housing operations. A major portion of the meeting focused on social housing and the SB 555 study. HCD described its ongoing study process, including public engagement with residents, practitioners, and experts, and noted that California already has many building blocks for social housing, such as public land tools, long-term affordability mechanisms, community land trusts, and tenant protections. Community land trust and housing policy witnesses argued that social housing will require legislative action, expanded public subsidy, tax abatements, public land, and simplified financing, and they emphasized the need to reframe the concept for the “missing middle” and middle-class households to build broader political support. Committee members discussed stigma around “social housing,” the need for a rebrand, and the possibility of a pilot program, especially on excess public land. The committee also heard a proposal for a certified professional plan-check system modeled on Vancouver, Canada. The presenter said California’s permitting delays, inconsistent reviews, and staffing shortages add cost and uncertainty even for streamlined projects, and proposed allowing state-certified private professionals to perform plan checks and inspections under state oversight while local governments retain zoning and enforcement authority. Members discussed local control concerns, infrastructure costs, and the need to reduce delays and uncertainty in the entitlement process. Finally, the committee heard testimony supporting changes to HCD loan disbursement so funds can be used during construction rather than only after completion. Witnesses said this would reduce interest costs, improve feasibility, and could produce additional affordable homes with existing funding. The discussion also referenced AB 1053 as the vehicle for implementing that approach.

Transcript Highlights:

• Next, we have testifying virtually Kaylee Mundale, Community Lending Coordinator for Exodus Lending.
• Hi, Kaylee Mundale here from Exodus Lending.
• I serve as a Community Lending Coordinator for Exodus Lending.
• It is shaped by decades of racial and economic exclusion, redlining, discriminatory lending, and policies
• ,</c><00:07:23.200><c> and</c> redlining, discriminatory lending, and redlining, discriminatory lending

Transcript Highlights:

• the credit unions to do additional member business lending again to help the underserved in that area
• Those are typically a temporary deposit to help credit unions really help with the lending piece, again
• again to help kind of the lending again to help kind of the underserved<00:30:41.360><c> in</c><00:30
• piece again going help with the lending piece again going back<00:31:25.039><c> to</c><00:31:25.240>
• For example, they cannot... they can only be used for certain purposes, such as lending, for example,

Summary: The committee met with a quorum, approved the minutes, and then reviewed a long agenda of administrative regulations, most of which were advanced with staff-suggested amendments and no objection. Early items included the Kentucky Public Pension Authority’s 105 KAR 1:451, which updates reporting language and adds the contractor wizard for certain employers, and a large package of Board of Veterinary Examiners regulations that revise fees, facility and AHP registration requirements, continuing education, liability, and practice rules. The Board of Speech-Language Pathology and Audiology’s compact-related regulation and the Board of Licensed Professional Counselors’ complaint and compact rules were also reviewed and approved with amendments, along with fish and wildlife rules affecting elk hunting, youth deer season length, bear-dog approvals, and foxhound enclosure permits. The committee also approved transportation, education, workplace standards, horse racing, and several health and human services regulations, including Medicaid waiver reimbursement updates and a child care regulation that sends certain large claims to the Office of Inspector General for review. Several agencies briefly explained their regulations when members asked questions. Fish and Wildlife said the elk population is strong and the baiting change is intended to support harvest monitoring and fair chase, while the longer youth deer season was meant to give young hunters more opportunity. The Department of Community-Based Services said the $10,000 and $5,000 claim thresholds were meant to clarify rare cases involving possible fraud or unresolved recoupment issues. The Department of Financial Institutions’ 808 KAR 5:305 drew the most discussion: it would allow certain state-chartered credit unions with a low-income designation to participate in federal programs, including limited non-member deposits and supplemental capital, but the regulation was deferred again amid continued discussions. The Kentucky Bankers Association testified against the credit union regulation, arguing that allowing non-member deposits conflicts with existing statute limiting credit union deposits to members and other credit unions, and that an administrative regulation cannot override that statutory restriction. Committee members heard the agency’s explanation that the proposal is intended to help underserved communities and that the non-member deposit authority would be limited, but no final action was taken because the item was deferred. The meeting otherwise concluded with the remaining regulations being called, discussed briefly, and approved or advanced without objection.

Transcript Highlights:

• a few more options for folks when they're looking to try to buy an investment property and use a lending
• </c><00:19:04.240><c> How</c> lending doesn't belong in Minnesota.
• How lending doesn't belong in Minnesota.
• This bill has nothing to do with predatory lending whatsoever, and I wanted to be clear and take a firm
• whatsoever, and I wanted to be lending whatsoever, and I wanted to be clear<00:19:34.720><c> and</c>

Summary: The program focused first on Minnesota’s energy and affordability agenda, with Senator Nick Frentz discussing the state’s clean-energy leadership, rising electricity demand, and the Senate’s 100% clean energy framework. He said Minnesota’s clean energy growth supports jobs, lowers costs for ratepayers, and includes recent wins such as sustainable aviation fuel tax treatment in the supplemental budget. Frentz also said the Senate passed an energy omnibus bill that continues clean-energy permitting reforms, promotes conservation and demand response, and includes a nuclear study rather than lifting the nuclear moratorium. Frentz spent much of the interview defending data centers as both a challenge and an opportunity. He said large hyperscale projects can create major construction jobs and substantial local property-tax revenue, while a 2025 law requires data-center companies to contribute to low-income energy assistance and report water use. He pointed to the Google data center planned for Pine Island as an example, saying it is air-cooled, will pay $5 million a year, and will fund 1,600 MW of clean energy at its own expense, which he argued could save Xcel ratepayers money over time. He also said climate change is already driving higher costs through homeowners insurance and storm damage. The second segment highlighted Senator Zach Duckworth’s housing and banking bills. Duckworth said Senate File 4168 would make it easier to finance investment properties by giving buyers more flexibility to roll closing costs and lender fees into payments, while keeping strong protections in place for primary residences. He emphasized that the bill is not about predatory lending and is intended to expand options for informed investors. He also described Senate File 4652 as an anti-fraud, no-cost measure that lets bank customers name a trusted contact so banks can alert someone if suspicious activity is detected. Duckworth said both bills passed unanimously in both chambers, and he credited quick action and good working relationships across the aisle for their success. The program closed with a broader reflection on the end of session and the Senate’s political climate. It noted that 15 senators are retiring and two are leaving for higher office, and that final floor votes often split along party lines, including one bill passing 34-33. Several retiring senators used farewell speeches to urge civility, compromise, and putting people first, while the segment emphasized that despite partisan conflict, quiet bipartisan cooperation still produced much of the session’s enacted legislation.

Transcript Highlights:

• We provide 70% of the ag lending in the state and 60% of the small business lending in the state.
• </c> rely on local lending relationships. rely on local lending relationships.
• </c><01:32:09.760><c> in</c> Um, we provide 70% of the egg lending in Um, we provide 70% of the egg lending
• The bill is going to provide a small modicum of relief, and that's going to make ag lending and small
• </c><01:34:06.239><c> more</c> lending and small business lending more lending and small business lending

Bills: HF331 , HF916

Committee: House Taxes

Transcript Highlights:

• Currently, these banks can lend only up to 15% of their capital to any single customer.
• As was mentioned, the bill increases the current legal lending limit.
• Their states all allow lending up to 20%.
• As was mentioned, the bill increases the current legal lending limit.
• Their states all allow lending up to 20%.

Committee: Senate Commerce

Transcript Highlights:

• The new mortgage lending authority granted by the bill is intended solely to streamline financing for
• I appreciate the residential loan component being taken out, but if there's commercial lending that's
• happening here... ...and if there's commercial lending that's happening here that is not backstopped
• I just do want to make sure it does not become a competition to private lending banks, but today I will

Bills: HB1974 , HB2118 , HB2236 , HB2269

Committee: House Housing

Keywords: land bank, land banking authority, affordable housing, housing crisis, housing supply, public corporation, public housing authority, nonprofit housing, tax-foreclosed property, blight remediation, redevelopment, anti-displacement, equity, redlining, racial segregation, deed restriction, affordability covenant, property tax exemption, excise tax exemption, predevelopment

Transcript Highlights:

• may accept or reject any part or all of a program package based on the evaluation of the eligible lending
• I know that the lending institution has to qualify, the treasurer has to approve them first to even be
• So this bill allows lending institutions to prioritize based on, from the text of the measure, it says
• To the extent that it's not actually written in the bill, that would be up to the lending institution
• That would be up to whether or not The financial lending institution wants to participate and wants to

Bills: HB2268 , HB3000 , HB3043 , HB3066 , HB3078 , HB3143 , HB3144 , HB3244 , HB3298 , HB3320 , HB3467 , HB3321 , HB3329 , HB3431 , HB3464 , HB3499 , HB3500 , HB3586 , HB3590 , HB3650 , HB3671 , HB3695 , HB3700 , HB3701 , HB3764 , HB3767 , HB3834 , HB3931 , HB3934 , HB3940 , HB3944 , HB3979 , HB3985 , HB4113 , HB4294 , HB4302 , HB4317 , HB4324 , HB4359 , HB4426 , HB4427 , HB4430 , HB4431 , HB4434 , HJR1077 , SR42 , SR35 , HJR1023 , HB1225 , HB1374 , HB1381 , HB1590 , HB1675 , HB2153

Keywords: HB2268, Oklahoma Health Care Authority, OHCA, appropriation, General Revenue Fund, PACE, Programs of All-Inclusive Care for the Elderly, elderly care, aging Oklahomans, long-term care, Medicaid, health care funding, provider reimbursement, rate increase, low-income seniors, senior services, integrated care, emergency measure, cosmetology, barbering

Transcript Highlights:

• I moved here to help a small credit union start their business lending, and then I've been moved out
• And I have a long background in commercial lending, and I've owned a couple of my own businesses and
• And I have a long background commercial lending and I've owned a couple of my own businesses and have
• I'm not sure if this is allowed, but I would also lend my support to both Michelle and Will as well.
• I'm not sure if this is allowed, but I would also lend my support to both Michelle and Will as well.

Committee: Senate Economic Development and Tourism

Summary: The Senate Committee on Economic Development and Tourism heard several governor’s nominations for advisory and regulatory boards. The first group included William Smith, Michelle Ige, and Kayana Neman for the Community-Based Economic Development Advisory Council; Leland Park and Cynthia Hobson for the Small Business Regulatory Review Board; and Nicole Kacal for the Hawaiʻi Technology Development Corporation board. DBEDT and related witnesses testified in support of all nominees, and each nominee described experience in small business, finance, community engagement, or technology. Much of the discussion focused on strengthening Hawaiʻi’s economy through small business support, financial literacy, and better access to capital and grants. Committee members questioned nominees about priorities for Hawaiʻi Island and the state more broadly. Topics included agricultural infrastructure, value-added food production, shared processing facilities and commercial kitchens, workforce housing, and ways government and nonprofits can partner to help small businesses navigate permitting, licensing, and grant processes. Several nominees emphasized community impact, measurable outcomes, and practical regulatory reform. Nicole Kacal also discussed diversifying the economy beyond tourism, expanding technology and AI opportunities, and creating locally governed training and research pathways so workers can adapt to changing jobs. At the end of the hearing, the committee voted to recommend advice and consent for all nominees. The nominations for GM 608, GM 609, GM 612, and GM 613 were adopted by voice vote, with Senators Kim and Fevella excused. The committee then voted separately on GM 794 for Nicole Kacal, and that recommendation was also adopted. The hearing concluded with adjournment.

Transcript Highlights:

• </c> lending license. lending license.
• Credit is lending, so that says that lending institutions can't discriminate.
• And so that's why it's changed to lending institutions.
• And so that's why it's changed to lending institutions.
• </c> financial institution's lending policy. financial institution's lending policy.

Transcript Highlights:

• This is the only direct lending that we do.
• The participation lending vertical and the student loan vertical are really our two profitable verticals
• Student lending is highly regulated.
• Don, what is the market rate currently for student lending? Mr.
• That correlation between deposits and ability to do the lending programs is 100%.

Summary: The committee received a compliance and budget update on Industrial Commission agencies and programs, including the Industrial Commission administrative office, the Oil and Gas Research Program, the Clean Sustainable Energy Authority, the State Energy Research Center, the Research Technology Park grant program, and related funds. Staff reviewed spending and balances for items such as electric grid resiliency grants, lignite research, enhanced oil recovery, the salt cavern business case study, and the new NDSU research and technology park grant. Members also discussed timing, carryover balances, matching requirements, and how some programs are structured to reimburse projects over several years rather than spend funds immediately. Karen Tyler of the Industrial Commission described the agency’s administrative budget, the grant management system nearing completion, and the transition to standalone audits and staffing after separating from other agencies. She also outlined the status of active grant rounds across lignite, oil and gas, renewable energy, outdoor heritage, and clean sustainable energy programs. Members asked about the length of active grants, demand for clean energy funding, and the possibility of future grant rounds. Tyler and members also discussed the salt cavern study, the need to better define its commercial value, and the research technology park grant’s cash-match requirement. Ron Ness then testified on enhanced oil recovery and broader oil and gas market conditions. He said North Dakota production remained steady, but future growth depends on infrastructure, longer laterals, and better use of natural gas and carbon dioxide for EOR. He described the state’s EOR grant round, the use of federal DOE funding to replace part of a state-funded project, and the expectation of additional grant rounds. Members asked about CO2 supply, storage, and the economics of using legacy fields and pipelines to extend oil production and support agriculture and industrial uses. The committee also heard from Bank of North Dakota President Don Morgan, who reviewed the bank’s mission, governance, lending verticals, disaster programs, and new initiatives. He said the bank is seeing deposit growth flatten and is responding to fintech competition by focusing on liquidity, risk management, and a new payment infrastructure initiative called Rough Rider Coin, which he emphasized is not crypto and not a public coin, but a banking payment rail for North Dakota institutions. Members asked about student loan rates, disaster lending, and how the bank’s lines of credit and balance sheet capacity are affected by deposit trends. Morgan said the bank remains profitable and continues to support agriculture, commerce, and industry through participation loans, student lending, and state-directed programs.

Transcript Highlights:

• The VA, it was IRS, it was SBA.
• Who do they contact to just get SBA help, for instance?
• people remotely through a collective of volunteer organizations, as my physical situation doesn't lend

Bills: HB4

Committee: House Congressional Redistricting, Select

Transcript Highlights:

• Van Horn, staff to this committee, is briefing you on Senate Bill 5109, which concerns the mortgage lending
• collected at the time of recording each deed of trust, and that $1 surcharge is to support the mortgage lending
• Revenues from the mortgage lending fraud prosecution account are used by the Department of Financial
• prosecutor's offices for the investigation and prosecution of fraudulent activities related to mortgage lending
• million in fiscal year 27 and $2.5 million per biennium thereafter would be deposited into the mortgage lending

Summary: The Appropriations Committee held a public hearing on several bills. Senate Bill 5109 would raise the mortgage lending fraud prosecution surcharge on recorded deeds of trust from $1 to $5 and remove the 2027 sunset on the surcharge and account. Committee staff said the change would generate additional revenue for county auditors and the Department of Financial Institutions to contract with prosecutors; King County and the Washington Association of Prosecuting Attorneys testified in strong support, saying the current funding has eroded and the bill would better sustain mortgage fraud prosecutions. A question was raised about whether other budget funding could serve a similar purpose, but supporters said the dedicated surcharge/account structure was the best fit. No vote was taken. The committee also heard Engrossed Substitute Senate Bill 5500, which would require DCYF’s biennial child care report to include a current cost-of-quality study in addition to the market rate survey. Testifiers from Child Care Aware of Washington, child care providers, and the early education design team supported the bill, saying the market rate survey alone does not capture the true cost of providing quality care. Staff said the bill would have a small fiscal impact for DCYF. The committee then heard Substitute Senate Bill 5834 and Senate Bill 5835, both Department of Retirement Systems request bills: one would broaden use of pension fund interest earnings for fund-protection expenses beyond the 2025-27 biennium, and the other would raise the threshold for lump-sum payment of small monthly benefits from $50 to $250. Neither bill drew public testimony, and staff said the fiscal impacts were minimal. Later, the committee heard Engrossed Senate Bill 5872, which would create the Pre-K Promise Account for ECAP funding and allow gifts, grants, and donations to be used solely to expand the program. Supporters including rural health coalitions, the Balmer Group, and Snohomish County said the account would help expand access to early learning, especially in child care deserts; DCYF estimated staffing costs to administer the account. Substitute Senate Bill 6007 would direct WSIPP to study DCYF’s child welfare screening tools and their effects on outcomes, with a reported cost of about $234,000; there was no public testimony. Engrossed Substitute Senate Bill 6019 would clarify home care agency rate-setting and require that no more than 20% of Medicaid home care rates go to administrative costs, with DSHS saying there would be no fiscal impact. Labor and caregiver witnesses supported it as a parity and accountability measure. Finally, Senate Bill 6065 would allow school districts in binding conditions or enhanced financial oversight to use transportation vehicle funds more flexibly, including temporary loans or permanent transfers with approval; a rural education representative supported the bill, and staff said OSPI would incur only modest administrative costs. The committee took no final action and adjourned after the hearings.