Transcript Highlights:

• Are there other assets like Bitcoin? Can the CFO also invest in?
• Are there other assets like Bitcoin? Can the CFO also invest in?
• Currently, the state does invest in digital asset-related products.
• It can create the additional inflation hedge, add a non-correlated asset to the other assets that are
• But there's new concerns when we're adding in a new asset class.

Summary: The Insurance and Banking Committee met with a quorum and heard three bills. HB 487 would authorize the CFO and State Board of Administration to invest up to 10% of certain state funds in Bitcoin, require specified custody methods, allow Bitcoin lending under rule, and create a process for accepting taxes and fees in Bitcoin. The sponsor and several proponents argued it would diversify state investments, hedge inflation, and position Florida as a leader in digital assets. Members raised concerns about volatility, security, valuation, and whether Bitcoin was being singled out over other cryptocurrencies, but the bill was reported favorably after debate and a roll call vote. The committee then considered HB 7011, an Open Government Sunset Review measure for records of insolvent insurers. The bill would continue some exemptions but make additional records public, including underwriting files, risk-solvency assessments, corporate governance annual disclosures, and the names, benefits, and compensation of insurance executive officers. There was no public testimony, and members discussed privacy and safety concerns, but the bill passed and was reported favorably. Finally, the committee heard HB 1433 on hurricane mitigation grants and insurer regulation. The bill would tighten restrictions on former executives of failed insurers, raise capital requirements for new insurers, and require mitigation credits when homeowners receive Safe Florida Home funds. An amendment was adopted to require a licensed person to make final claim-denial decisions when AI or automation is used and to prioritize filings that lower rates. Consumer advocates supported the transparency and consumer protections, while industry representatives urged caution on the AI provisions. After debate, the amended bill was reported favorably. The meeting ended with closing remarks from the ranking member, vice chair, and chair reflecting on the committee’s work and likely final meeting of the term.

Transcript Highlights:

• All agencies will be under ASSET, including, as I said, cabinet agencies.
• All agencies will be under asset, including, as I said, cabinet agencies.
• So, and reporting back to ASSET. Follow up? You are recognized.
• If the state, if ASSET says this is a bad choice, are we going to fund it?
• But each agency working with ASSET is in control of their agency.

Summary: The Appropriations Committee met with a quorum present and considered three items. First, it heard and passed SB 158, which eliminates cost-sharing for diagnostic and supplemental breast examinations under the state employee health plan. Senator Berman described the bill as a way to remove financial barriers to early breast cancer detection, and several senators spoke in strong support, emphasizing the importance of follow-up screening and the life- and cost-saving value of early diagnosis. The bill was reported favorably by roll call vote. The committee then took up SPB 7024, a committee bill on state planning and budgeting. Senator Brodeur explained that the proposal modernizes and simplifies the state agency long-range planning process by focusing on key data points, removing stale measures, and improving how plans are presented to the Legislature. Senator Berman supported the bill, highlighting new provisions on implementation status and budget consequences if enacted laws are not carried out. The committee voted to submit the proposal as a committee bill and reported it favorably. Finally, the committee considered SPB 7026, a major overhaul of state information technology governance. Senator Harrell described a transition from the current Florida Digital Service structure to a new cabinet-level Agency for State Systems and Enterprise Technology (ASSET), with enterprise-wide standards, interoperability, procurement oversight, cybersecurity coordination, technical debt tracking, a testing laboratory, workforce development, and annual IT expenditure reporting. Members raised questions about procurement authority, judicial branch inclusion, existing contracts, cybersecurity, and staffing; Harrell said agencies would retain final procurement decisions but would have to follow enterprise standards, the courts were not included, existing contracts would continue, and the bill would add significant state IT staffing. Several amendments were adopted, including changes on CIO selection conflicts, removal of the Northwest Regional Data Center from a definition, reporting on deviations from standards, and technical updates related to the data center and workforce positions. Public testimony strongly supported the bill as a needed modernization of Florida’s fragmented IT system. The committee then reported SPB 7026 favorably as a committee bill. The meeting adjourned after members recorded their votes on the three items.

Transcript Highlights:

• 23 million for DCT asset preservation. 23 million for DCT asset preservation. 77<00:02:59.519>
• Minnesota, 40 million for asset Minnesota, 40 million for asset preservation,<00:04:01.880> 35
• preservation, 1.3 million for for asset preservation, 1.3 million for Perpich<00:04:53.360> asset
• Perpich asset preservation. Perpich asset preservation.
• resources betterment uh or asset resources betterment uh or asset preservation,<00:05:03.040>

Keywords: 918, senate, all

Summary: The committee took up a large bonding bill and reviewed the final spreadsheet of capital investments. Chairs and members repeatedly thanked staff, House and Senate negotiators, and the Governor’s team for a collaborative process. The bill was described as a statewide package rather than a partisan one, with major funding for higher education asset preservation, DNR projects, public safety, transportation, the Met Council, veterans facilities, corrections, DEED/local projects, and a large water infrastructure section. House Fiscal staff and Senate fiscal staff walked through the bill line by line. Highlights included University of Minnesota and Minnesota State asset preservation, education and language immersion school funding, DNR trail and flood mitigation projects, public safety facilities, local road and bridge grants, Met Council parks and I/I grants, veterans home and armory funding, corrections projects including the Faribault vocational expansion, and many local economic development and public facility projects across Greater Minnesota and the metro. The bill also included Public Facilities Authority water and wastewater grants, housing rehabilitation funding, historical society grants, a Minnesota Zoo operating transfer, airport appropriations, and several cancellations of prior appropriations to help finance the package. Members generally praised the bill and the bipartisan work behind it. Some Republicans emphasized the one-time license fee reduction and affordability, while also saying DEED’s business development infrastructure funding was too low. Senator Nelson highlighted long-awaited transportation projects such as Highway 14 and township roads. Senator Dibble supported the transportation investments but criticized the bill for having no transit funding, calling that a major omission. No vote was recorded in the excerpt, but the discussion centered on final review and support for moving the bonding bill forward.

Transcript Highlights:

• of a strategic national digital asset stockpile.
• Like all financial assets, there is volatility associated with Bitcoin. and other crypto assets.
• So assets can fall in price.
• and the investment of those financial assets.
• So the 500 billion dollar threshold means that that asset has had enough individuals buy that asset.

Bills: SJR34, SB10, SB18, SB19, SB21, SB72, SB140, SB262, SB370, SB480, SB495, SB627, SB703, SB767, SB790

Keywords: parental rights, parents, children, custody, care and control, upbringing, family law, constitutional amendment, Texas Constitution, child welfare, education policy, medical decisions, parental authority, primary decision makers, family autonomy, education, Ten Commandments, public schools, religious display, First Amendment

Transcript Highlights:

• digital assets on a public blockchain. digital assets on a public blockchain.
• Not even a digital asset ConocoPhillips. Not even a digital asset use<00:52:01.360> case.
• digital assets. digital assets.
• We right now um only offer one asset. We right now um only offer one asset.
• that collateral as a real world asset. that collateral as a real world asset.

Keywords: 1189, house, all

Summary: The meeting opened with roll call, confirmation of a quorum, and approval of the April 6 and May 4 minutes, with minor corrections noted to the May minutes. The main presentation came from JD of Link Network, introduced by Dan Cohen, who described Link’s work with crypto.com and other market participants on tokenized money market funds and real-time settlement for institutional clients. JD gave a detailed history of his earlier work developing the Arca U.S. Treasury Fund and ArCoin, emphasizing that the project was built within existing SEC and 1940 Act frameworks and was intended to use blockchain technology for a traditional asset rather than create a crypto product. He said the effort involved years of discussions with the SEC, multiple custodians, and partners such as U.S. Bank, T-Zero Securities, and Tassat, and that the model eventually led to Link’s settlement system. He highlighted concerns that shaped the design, including regulatory compliance, privacy for institutional users, and the need to bridge traditional banking hours with 24/7 digital asset markets. The presentation also described Link’s features, including segregated and bankruptcy-remote fund structures, tokenized deposit and treasury fund settlement, and “yield in transit,” which allows interest to accrue and be distributed daily down to a two-second block. JD said the platform is being expanded for use cases such as exchange liquidity, cross-border capital movement, off-exchange collateral, stablecoin bridging, treasury management, and peer-to-peer settlement. He closed by posing policy questions for the commission about the use cases for stablecoins versus tokenized money market funds in New Hampshire and whether the state could issue or administer a security-based program with appropriate compliance controls.

Transcript Highlights:

• <00:09:02.880> it they have title to whatever assets it they have title to whatever assets
• those assets from my creditors.
• insulate those assets from my creditors. insulate those assets from my creditors.
• reach those assets. reach those assets.
• that I put in trust, then I reach assets that I put in trust, then I those<00:14:00.160> assets

Keywords: 958, all

Summary: The Senate Judiciary Committee met with a quorum and took up Senate Bill 50, sponsored by Chair Storm and President Stivers, a broad probate and trust measure. Stivers and attorney Barry explained that the bill updates Kentucky probate and intestacy procedures to better fit electronic filing and modern family structures, adjusts inheritance tax classifications to reflect longer lifespans and more complex family relationships, and adopts newer trust tools used in other states, including electronic wills and directed trusts. They also described a domestic asset protection trust provision, saying it is intended to level the playing field with other states and is not meant to help people evade existing creditors; they noted one non-uniform section may have fiscal impact and could warrant referral to Appropriations and Revenue. Members asked about the asset protection trust language, especially whether it could shield assets after a lawsuit is pending or threatened. Barry said the bill would not allow transfers to defeat existing or threatened claims and that the protection only applies where there are no such claims at the time of transfer. Senators also discussed whether the trust could be used for spendthrift-style family planning, with Barry noting trusts can already be drafted for that purpose and that the bill is not aimed at that issue. Senator Thomas requested more detail on the inheritance tax changes, and Stivers explained that the bill would move more beneficiaries into the no-tax category because estates now often pass to older children, grandchildren, and step-relatives, creating unexpected tax liability. He and others said the changes were meant to reflect modern family patterns and longer life expectancy, and Thomas said he was not opposed to the tax changes but wanted the public to understand them. Tim Shank of the Kentucky Bankers Association testified that the bankers were not opposing the bill overall but had concerns about the domestic asset protection trust section, particularly its treatment of existing mortgages and creditor claims. He said the bill’s notice and claim-extinguishment provisions could create unintended consequences for mortgage holders, and he urged changes to protect existing debt. In response, Senator Thomas questioned whether a lender that takes no action for the bill’s six-month-to-two-year claim period should lose its claim, but Shank replied that federal mortgage rules and payment status could complicate that assumption. The discussion ended with acknowledgment that the mortgage issue was likely unintended and would need further review.

Transcript Highlights:

• <00:32:48.919> program minkler our Capital asset program minkler our Capital asset program
• In addition to our diverse asset types, our assets are extensive and geographically dispersed across
• <00:35:19.480> extensive<00:35:19.960> and asset types our assets are extensive and
• asset types our assets are extensive and geographically<00:35:21.400> dispersed<00:35:22.079>
• million in 20125 natural resources asset million in 20125 natural resources asset preservation<00

Keywords: 1187, senate, all

Transcript Highlights:

• asset limit had complex asset test rules that, prior to its elimination, may have discouraged potential
• asset limit had complex asset test rules that prior to its elimination may have discouraged potential
• in how it tests assets. ...how it tests assets and so any level of asset test would still have some
• I'm very concerned with the elimination of the asset test.
• Oppose the IHSS cuts, oppose Medi-Cal assets.

Summary: The hearing began with opening remarks on the Governor’s May Revision for child care and human services, with committee members and advocates stressing that the budget should not be balanced on the backs of low-income families, children, and providers. Legislative members and public witnesses strongly opposed the proposed suspension of the child care COLA, reductions to the Emergency Child Care Bridge Program, and the lack of codified rate reform tied to the alternative methodology. Several speakers also urged more support for providers affected by the Eaton fire and other disasters, and called for child care to be funded at the true cost of care and for additional slots to be restored. Administration, LAO, and Department of Education staff described the child care proposal as maintaining existing funding levels while adding administrative resources to prepare for federally required prospective payment changes and single-rate reform. The administration said the May Revision would suspend the 2025–26 COLA and reduce Bridge Program funding to align with utilization, while the LAO raised questions about the size and purpose of the proposed rate-reform and prospective-payment funding and recommended rejecting a Department of Technology exemption. CDE supported continued early education investments but said it would need additional resources if prospective pay were extended to state preschool, and it objected to a proposed reallocation of preschool funds for inclusive education grants. The committee then moved to the IHSS portion of the May Revision. DSS outlined five major proposals: capping provider work hours at 50 per week, eliminating IHSS for undocumented adults age 19 and older, shifting certain Community First Choice reassessment penalties to counties, reinstating the Medi-Cal asset test as a conforming IHSS reduction, and automating the termination of IHSS when Medi-Cal eligibility ends. DSS also discussed funding to implement a federal HCBS access rule and a separate reassessment of IHSS administrative methodology that found counties would need additional administrative funding. Finance said the proposals were intended to slow program growth and improve sustainability, while the LAO said it was still analyzing the package and raised concerns about implementation, county workload, and the potential loss of services. Committee members and public commenters criticized the IHSS cuts, especially the overtime cap and the elimination of services for undocumented adults and people affected by the asset test. Advocates argued that IHSS workers and recipients depend on these services, that county administration is already underfunded, and that the proposals could destabilize vulnerable consumers. The chair closed by saying the committee would continue to fight for child care and would not pause on child care, and the meeting recessed before moving on to the remaining May Revision items.

Transcript Highlights:

• like private equity, real estate, and real assets.
• capital preservation for different types of assets.
• To net asset value growth.
• BlackRock, the world's largest asset manager, owns $9 trillion in assets under management overall.
• They're putting Bitcoin as a reserved asset as well.

Transcript Highlights:

• from the reliable portion of the assets from the reliable portion of the assets that<00:48:03.960
• shuo<00:53:15.000> or a depreciated assets say like shuo or a depreciated assets say like
• regardless of whether the asset regardless of whether the asset contributes<01:03:32.839> to<
• utilities to build reliable assets utilities to build reliable assets ensuring<01:04:49.400>
• not but could you close uh an asset like not but could you close uh an asset like that<01:14:47.840><

Keywords: 1183, house

Transcript Highlights:

• It's about 3.2% of the asset allocation. Okay.
• So it's a very well-performing, durable asset class.
• Legacy Fund, the Legacy Fund asset allocation...
• The asset allocation section maps directly to the asset allocation section.
• The asset allocation section maps directly to the asset allocation section of the previous policy statement

Keywords: 908, all

Transcript Highlights:

• We're just trying to manage the assets. That that are under the stewardship.
• History shows that long-term illiquid investments tend to be other assets.
• Texas would have a powerful asset, part. Investment engine part democratic.
• Funding not just innovation, but infrastructure, energy, and other long-term assets.
• And when those assets produce a return, Every Texan reaps the direct financial rewards.

Bills: HB104

Keywords: property tax, ad valorem tax, tax rate election, voter-approval tax rate, no-new-revenue tax rate, de minimis rate, local government, special district, tax increase, tax notice, public hearing, tax code, Health and Safety Code, Texas property taxes, taxing unit, election threshold, two-thirds vote, majority vote, budget approval

Transcript Highlights:

• We're just trying to manage the assets that are under the stewardship of the ESF and the Comptroller.
• Individuals, unfortunately, do not have access to institutional asset managers.
• Yeah, I mean, the way I think about it is illiquid assets typically outperform liquid assets because
• Is lower than many others and is a conservative, prudent amount to invest in illiquid assets.
• Is invested in other assets than just... Yeah, you're correct on that.

Bills: HB 104, HB2054, HB3459, HB3745, HB4486, HB4488, HB4601, HB104

Keywords: Texas Future Fund, investment review board, economic stabilization, innovative technology, national defense, HB 2054, Texas volunteer fire department assistance fund, Rural Volunteer Fire Department Assistance Program, volunteer fire departments, wildfire mitigation, wildland fire, rural fire protection, insurer assessment, insurance premium tax, state appropriations, firefighting grants, emergency services, high-risk wildfire areas, Texas Comptroller, Texas Government Code

Transcript Highlights:

• So and reporting back to asset. >> You're recognized.
• >> If the state, if asset says this is a bad choice, I we going to fund.
• So those decisions should the Supreme Court want to become part of asset?
• Well, when asset develops the standards.
• But each agency working with asset is in control of their agency.

Keywords: 999, senate, all

Transcript Highlights:

• in recurring funding to implement a department-wide fleet tracking solution to monitor its wheeled assets
• All these little blue dots here are tracked assets that we have in the department.
• We have over 4,000 assets in our fleet, ranging from airboats to aircraft, to swamp buggies, to ATVs,
• Over the last four years, we’ve replaced over 700 assets in our fleet.
• The technology provides an accurate depiction of asset inventory.

Summary: The Committee on Government Oversight and Accountability met with a quorum and heard several presentations on state fleet management. The Department of Agriculture and Consumer Services described its new fleet tracking rollout using AT&T/GeoTab devices, funded with $804,000, to monitor vehicle location, fuel use, idle time, driver behavior, and maintenance needs in real time. Members asked about whether the system was unique to FDACS and whether it duplicated reporting to the Department of Management Services; the agency said it was still implementing the system and would follow up on those questions. The Florida Fish and Wildlife Conservation Commission presented on its large and diverse fleet, including more than 4,000 assets, and explained that it uses both the statewide FleetWave system and the Samsara telematics platform. FWC said FleetWave is used for monthly reporting and replacement tracking, while Samsara provides real-time location and diagnostics, reducing administrative burden and improving accountability. The Florida Department of Highway Safety and Motor Vehicles and Florida Highway Patrol then outlined their fleet operations, emphasizing that most assets support law enforcement, that multiple manual systems create data inaccuracies, and that they are seeking a $750,000 increase to modernize fleet management with telematics, automated receipt processing, and a centralized database to improve safety and efficiency. The committee also considered SPB 7010, which would authorize the Department of Financial Services and local governmental entities to allow post-tax Roth contributions in deferred compensation plans, in addition to existing pre-tax contributions. After a brief explanation, there was no debate or public testimony, and the committee voted to submit the bill as a committee bill. The roll call showed the measure was favorably reported, and the meeting then adjourned.

Transcript Highlights:

• <01:51:26.520> such<01:51:26.840> as for digital assets such as for digital assets
• They have an IOU from the asset.
• holding the underlying bare asset. holding the underlying bare asset.
• physical asset. physical asset. Senator<02:05:23.480> Duckworth.
• separate from their insured assets. separate from their insured assets.

Keywords: 1187, senate, all

Transcript Highlights:

• <00:04:13.680> preservation million in asset preservation million in asset preservation investments
• Asset preservation projects are improvements to existing state assets to address life and safety hazards
• As you can see, asset preservation funds are invested across the state.
• <00:06:40.160> preservation eligible to receive asset preservation eligible to receive asset
• The governor is recommending asset The governor is recommending asset preservation<00:06:45.280>

Keywords: 1183, house

Transcript Highlights:

• assets in that funding value of assets in that funding sufficiency<00:46:23.599> measurement.
• exclusively using market value of assets exclusively using market value of assets in<00:46:30.960
• You said that every year you need to sell from your asset base about 3.6% of that asset base to be able
• base about 3.6% 6% of of that asset base about 3.6% 6% of of that asset<01:08:14.880> base<01
• sell 3.6% of your assets to meet that. sell 3.6% of your assets to meet that.

Keywords: 1187, senate, all

Transcript Highlights:

• We've seen what happens when large asset managers hijack corporate governance; they use proxy votes to
• The problem is, if asset managers have a fiduciary responsibility to their shareholders to vote...
• Again, if we were to talk about their net zero asset management commitments to push all assets toward
• In addition to that, I will just note that while BlackRock has left net-zero asset managers,...
• which collectively manage approximately $24.5 trillion in assets as of the end of 2024.

Bills: SB312, SB945, SB946, SB1367, SB1861, SB2044, SB2337, SB2403, SB2819, SJR54

Keywords: public school funding, education, budget allocation, financial transparency, state law, local control, fiduciary responsibility, public retirement systems, investment management, proxy voting, financial factors, insurance, political shareholder proposals, fossil fuels, greenhouse gas emissions, environmental regulation, discrimination, credit extension, social credit, value-based standards

Transcript Highlights:

• Asset preservation projects are improvements to existing state assets to address life and safety hazards
• funding for the capital asset funding for the capital asset preservation<00:53:55.280> and
• priority is asset preservation. priority is asset preservation.
• asset.
• As of today, asset preservation.

Keywords: 1187, senate, all