Transcript Highlights:

• development without using a mortgage lender.
• And we're wanting to look at production, not mortgage, not single-family mortgages, but production.
• I don't know that we've really done an analysis of the 50-year mortgage product.
• Refinancing has happened well within the existing 30-year mortgage term. And so it really is...
• A mortgage is a credit card.

Bills: HB2273 , SB5188 , HB2353 , HB2420 , HB2470

Committee: House Capital Budget

Keywords: embodied carbon, building materials, sustainability, construction, environment, broadband, infrastructure, loan assistance, economic development, technology access, HB 2353, predesign thresholds, capital construction, capital budget, major capital projects, Office of Financial Management, OFM, Washington state, state agencies, infrastructure planning

Transcript Highlights:

• any of you have ever looked at a 30-year mortgage and possibly refinanced into a 15-year mortgage.
• So my household, I have a mortgage.
• Because if you have a mortgage or we have a mortgage, we have a... ...we're talking about right now.
• Because if you have a mortgage or we have a bond, the mortgages that they would sell that the industry
• What I mean by that is just like your personal mortgage, you pay your personal mortgage before you pay

Committee: House House Appropriations Committee of Reference

Summary: The Committee of Appropriations met on January 21, 2026, and first considered House Bill 2116, which would appropriate $1 million in fiscal year 2027 to the Colorado River Litigation Fund. The sponsor and Arizona Department of Water Resources both supported the bill, describing it as a backup measure to protect Arizona’s Colorado River entitlements if post-2026 negotiations among the basin states fail. Members discussed how the bill relates to the governor’s separate Colorado River Protection Fund proposal, and staff clarified the two funds serve different purposes. The committee approved HB 2116 on a 17-1 roll call vote. The committee then took up House Bill 2053, which would provide $100,000 for updated stormwater recharge mapping and expand the work beyond state trust lands to private lands. An amendment in the chair’s name was adopted to extend the coordination timeline, broaden the agencies involved, and revise language about mapped sites and appropriable surface water. The sponsor said the bill is intended to identify more places to capture stormwater for recharge rather than letting most rainfall evaporate. ADWR testified neutrally, supporting the mapping effort but raising a concern about language that could be read as requiring the department to determine whether water is appropriable, which it said is a legal question for the courts. The amended bill passed 11-7. House Bill 2148, as amended, was then heard and approved 11-7. The bill would give the legislature authority to appropriate non-custodial federal monies and set requirements for those appropriations. The chair’s amendment excluded federal research grants to universities, university employees, and the Arizona Board of Regents. The sponsor framed the bill as a transparency measure, saying the legislature should know how federal funds are being spent. No outside testimony was offered, and the committee approved the measure after debate about legislative oversight of federal funds. After the bills, the committee received a lengthy JLBC presentation comparing the executive budget with the JLBC baseline. Discussion focused on revenue forecasts, tax conformity, sports betting, lottery and tourism revenue assumptions, SNAP administrative costs and error-rate penalties, developmental disability and Access caseload growth, and K-12 enrollment and ESA spending. Members repeatedly questioned the executive budget’s use of one-time funding for ongoing costs, especially for SNAP administration and DES staffing, and expressed concern about rising supplemental needs and the lack of long-term budget capacity. No votes were taken on the presentation.

Transcript Highlights:

• any of you have ever looked at a 30-year mortgage and possibly refinanced into a 15-year mortgage.
• So my household, I have a mortgage.
• Because if you have a mortgage or we have a mortgage, we have a...
• We have a mortgage or we have a bond, the mortgages that they would sell that the industry would buy
• What I mean by that is just like your personal mortgage, you pay your personal mortgage before you pay

Bills: HB2053 , HB2116 , HB2148

Committees: House Appropriations , House House Appropriations Committee of Reference

Keywords: stormwater, recharge mapping, water resources, groundwater, appropriation, Arizona, HB2116, Colorado River, litigation fund, water rights, Arizona water law, general fund appropriation, state budget, interstate water compact, Colorado River Compact, water litigation, A.R.S. 45-119, natural resources, water policy, river management

Transcript Highlights:

• My community just did a survey process.
• , a lengthy process for us.
• takes as it goes through the planning process.
• through the planning process.
• It starts to go through the approval process.

Summary: The committee heard public testimony on several housing-related bills. On SB 6054, Senator Hunt’s bill to prohibit common-interest community rules from blocking wildfire home-hardening materials, staff explained that HOA and condominium governing documents could still impose reasonable aesthetic rules, but not ones that make fire-resistant materials infeasible or more than 10% costlier. The sponsor described the bill as a response to HOA requirements for less fire-resistant roofs. Testifiers generally supported the goal but objected to the 10% cost cap, saying it could limit community-specific design choices and create unintended conflicts with aesthetic standards. The committee also heard SB 601 on scissor stairs in the building code. The sponsor and supporters from Futurewise, architects, and housing advocates said scissor stairs could make mid-rise and high-rise housing more efficient, reduce corridor space, and improve unit layouts without sacrificing life safety. They noted the design is used in places like Vancouver, B.C. and in some Washington venues, and argued the bill would help lower costs and increase housing supply. No opposition was presented during the hearing. For SB 6015 on permit-ready residential plans, staff said L&I would create a process for publishing approved plans for factory-built housing and certain small residential types, with local governments required to approve applications using those plans on qualifying lots starting in 2027. Supporters from builders, architects, Habitat for Humanity, and Sightline said statewide standard plans could reduce duplication, speed permitting, and help scale factory-built and potentially site-built housing. Counties and L&I were supportive in concept but raised concerns about mandating local adoption of model ordinances and about whether the bill should include site-built plans as well. The committee also heard SB 5470 on detached ADUs outside urban growth areas, with supporters saying it would help rural homeowners and intergenerational living, while Futurewise opposed the bill as written and sought tighter density, lot-size, and metering limits. Finally, the committee heard SB 5729, a permit-streamlining bill that would deem completeness for applications prepared by licensed professionals and limit local governments to three review cycles. Builders and business groups supported it as a way to reduce delays and costs, while counties, cities, and Futurewise argued it could lead to more denials, less communication, and unintended liability concerns. In executive session, the committee adopted the proposed substitute for SB 5884 and moved it forward with a do-pass recommendation to Ways and Means.

Transcript Highlights:

• The standardized award processes we have different award processes, RFPs, or NOFAs in different timeframes
• Award processes vary; we have different award processes, RFPs, or NOFAs in different timeframes that
• There's between 500 and 600 savings on the 3% mortgage versus about a 200 savings on a mortgage payment
• So, it's not a quick process.
• We could also improve inspection processes.

Bills: SB48 , SB64 , SB100

Committee: Senate Senate Finance

Keywords: State Fairgrounds District, fairgrounds bonds, public financing, bond authorization, gross receipts tax, gaming tax, tax-backed bonds, infrastructure funding, Albuquerque fairgrounds, State Fair Tid, economic development, municipal bonds, revenue pledge, capital projects, New Mexico finance, special education, office of special education, deputy secretary, public education department, IEP

Transcript Highlights:

• Through what process? Madam Chair, Senator O'Malley, the current process.
• That is created by the city through a public process.
• So there's a huge process that's going to go on.
• There was not transparency or a public input process.
• They are returned to the Mortgage Finance Authority upon sale of the home. to the Mortgage Finance Authority

Committee: Senate Senate Tax, Business & Transportation

Transcript Highlights:

• </c> exemptions within 30 days and to process exemptions within 30 days and to process the<00:04:33.520
• </c><00:14:58.720><c> to</c><00:14:58.880><c> process</c><00:14:59.199><c> the</c> an application. to
• process the an application. to process the application<00:14:59.760><c> and</c><00:15:00.000><c> bring
• ><c> an</c> A county agency processing an A county agency processing an application<00:15:06.639><c>
• </c> application is being processed. application is being processed.

Summary: The Senate Committee on Housing heard and then took action on a series of housing-related bills concerning HHFDC, HPHA, inclusionary zoning, nonprofit housing trusts, housing project exemptions, the rental housing revolving fund, and a new for-sale housing program. Testimony was generally supportive from HHFDC and HPHA, with additional support from groups such as Hawaii YIMBY, Grassroot Institute of Hawaii, Hawaii Appleseed, Housing Hawaii’s Future, Holo Collaborative, the Kobayashi Group, and others. On SB 2424, the Kobayashi Group argued the bill would help open housing to a broader pool of local households, including buyers slightly above income limits who still cannot afford market-rate housing. On SB 2342, the chair asked HHFDC for final figures on rental housing revolving fund appropriations since 2016 and was told the amount was about $1.1 billion, including conveyance tax revenue. In decision-making, the committee recommended passage of SB 2189 with amendments, noting concerns about transparency and accountability in HHFDC’s loan-award process; SB 2190 with amendments; SB 2234 with amendments; SB 2177 with amendments; SB 2194 unamended; SB 2342 with amendments; SB 2060 with amendments; and SB 2070 with amendments. The committee deferred SB 2195 and SB 2196 after testimony comments, and deferred SB 2063 because the chair said SB 2060 would be used instead as the vehicle for mixed-income subaccount changes. SB 2424 was discussed in hearing but then deferred in decision-making pending legal advice on issues including owner-occupancy, county income restrictions, buyback rules, and county council approval. The committee also heard testimony on SB 2062 and its proposed SD1, but deferred that measure because the relevant changes had already been incorporated into SB 2060 SD1.

Transcript Highlights:

• mortgage</c> override mortgage existing mortgage override mortgage existing mortgage documents.<00:35
• The mortgage 60 days consent default of consent for mortgages in banks, we have been talking with the
• And we process is supposed to work.
• </c> process. And keep in mind, Mr. process. And keep in mind, Mr.
• </c><02:21:33.040><c> President,</c> process. And in terms of Mr. President, process.

Transcript Highlights:

• The amortization period, you can think about it like a house mortgage.
• A 15-year mortgage, a 20-year mortgage?
• You know, you think about the mortgage: 15-year versus a 30-year.
• the lifetime of a mortgage, you end up paying half the interest charges.
• So we're right now in the process of working with the 2025...

Transcript Highlights:

• With a conventional mortgage, there is a full list of consumer protections that are afforded to mortgage
• A prime example is how CalHFA had, or sorry, CalHFA had the CalAssist Mortgage Relief program in the
• Applications that are submitted before it is in place will have to be processed.
• Applications that are submitted before it is in place will have to be processed.
• in the housing element framework rather than creating a separate new reporting process.

Committee: House Housing and Community Development

Transcript Highlights:

• This bill would create an opt-in process for manufactured homeowners to have their homes titled, tax
• With a conventional mortgage, there is a full list of consumer protections that are afforded to mortgage
• A prime example is how CalHFA had, or sorry, CalHFA had the CalAssist Mortgage Relief program in the
• Applications that are submitted before it is in place will have to be processed.
• in the housing element framework rather than creating a separate new reporting process.

Summary: The Assembly Housing and Community Development Committee heard several housing-related bills. SB 996 by Senator Padilla would let manufactured homeowners opt to title their homes as real property, with supporters saying this would improve access to conventional mortgages, consumer protections, and lower-cost financing. SB 866 by Senator Blakespear would require cities and counties to include homelessness-related information in their annual housing element reports, with supporters saying the bill would improve transparency, regional coordination, and accountability around homelessness funding and services. The committee also heard SB 1090 by Senator Perez, which would impose a temporary moratorium in Altadena on certain state housing density laws after the Eaton Fire. Supporters, including Supervisor Catherine Barger and many Altadena residents, argued the bill would protect fire survivors from speculative investors and give families time to rebuild and return home. Opponents argued the bill could limit tools that homeowners need to finance rebuilding and could reduce future housing production. After extensive testimony, the committee passed SB 1090 to the Assembly Local Government Committee on a 10-0 vote. SB 1388 by Senator Durazo would create an Affordable Housing Risk Reduction Program to help affordable housing providers reduce insurance costs through technical assistance and risk-mitigation support. Supporters said rising insurance premiums are threatening the viability of affordable housing developments and existing units. The committee also reconsidered and then voted on SB 1092, which was taken up only for reconsideration and final vote; after a split vote, the bill ultimately passed the committee. Final recorded votes showed SB 866 and SB 996 passing unanimously, SB 1388 passing with one no vote and one not voting, and SB 1092 passing 7-5 after reconsideration.

Transcript Highlights:

• In 2003, we had a little bit of a change where an equity loan could turn into a reverse mortgage.
• Would you complete that sentence about the reverse mortgages?
• I know the reverse mortgage issue because a reverse mortgage is equity.
• They did not know that their mom and dad had taken out a reverse mortgage.
• Having already received SWIFT funding, this process is well underway.

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:

• All right, this bill requires loan originators, mortgage brokers, mortgage lenders, and money services
• on the bill, and hopefully they get addressed in the future, is it seems like it's requiring the mortgage
• This bill has a lot of cybersecurity requirements for money service... organizations, mortgage lenders
• moves forward, but I have an interest in keeping your bill alive as we move throughout the session process
• We don't want to become a burden to the public, and I totally get it with the mortgage companies.

Transcript Highlights:

• I hope through this process we fight.
• This bill begins the process... with local lenders and realtors.
• Uh, I hope we will continue to move those conversations forward through this process.
• Um I will just say to the this process.
• </c> the freedom to use different mortgage the freedom to use different mortgage products<00:42:54.640

Committee: Senate Housing and Homelessness Prevention

Transcript Highlights:

• A 15-year mortgage, a 20-year mortgage?
• You know, you think about the mortgage, 15-year versus a 30-year: the 15-year mortgage, your payments
• We keep a steady process in terms of funding the plan for 100 percent funded.
• then that information gets processed and supplied to the budget hearings in May.
• And then we are in the process of working on those rates right now. Okay.

Summary: The Assembly Committee on Public Employment and Retirement and the Senate Committee on Labor, Public Employment, and Retirement held a joint hearing required by law to receive an independent report from the California Actuarial Advisory Panel on CalPERS. Opening remarks emphasized CalPERS’ role in providing retirement security for roughly two million members and the importance of actuarial assumptions to state budgeting and long-term pension health. Scott Tarando, CalPERS chief actuary and a CAP member, presented the report with Michael Cohen of CalPERS’ investment office available for questions. Tarando explained the statutory disclosure requirements under Government Code Section 2029, including sensitivity analysis around CalPERS’ 6.8% discount rate, and discussed how investment return assumptions and the 20-year amortization period affect contribution rates, unfunded liabilities, and budget volatility. He said shorter amortization periods would raise near-term costs but reduce long-term interest costs, and noted that CalPERS’ current approach is intended to smooth contribution changes over time. He also described the timing of the annual valuation process, explaining that contribution rates for a given fiscal year are based on the most recently audited year-end data and are approved by the board before being used in the budget process. Members asked about the relationship between average employee service life and amortization, whether more current data could be used, the effect of AI and labor-market changes on future assumptions, whether retirees’ benefits change with annual valuations, and CalPERS’ funded status. Tarando said the average expected working lifetime is about 11 to 12 years, while CalPERS uses a 20-year amortization period; he also said retiree benefits are set at retirement and do not change based on later valuations. He estimated CalPERS’ funded status had risen from the mid-60% range about 10 years ago to around 79% at June 30 and above 80% more recently. Cohen said CalPERS had complied with federal information requests and that no formal federal review had been released. During public comment, a county association representative praised the improved funded status and PEPRA reforms. The chairs closed by reiterating fiduciary responsibility and the need to protect CalPERS’ long-term stability, and the meeting adjourned.

Transcript Highlights:

• Grant continued: “My community just did a survey process.
• , lengthy process for us.
• takes as it goes through the planning process.
• through the planning process.
• It starts to go through the approval process.

Bills: SB6001 , SB6015 , SB6054 , SB5470 , SB5884 , SB6018 , SB6027 , SB6028

Committee: Senate Housing

Keywords: building code, scissor stairs, safety regulations, construction standards, statebuilding regulations, residential building, construction permits, housing development, planning efficiency, state regulations, wildfire, home hardening, fire-resistant materials, fire-hardened building materials, common interest communities, homeowners association, HOA, condominium, condo association, wildland urban interface

Transcript Highlights:

• House File 3479, an act relating to mortgage foreclosures. The second engrossment.
• In Minnesota, prior the mortgage sale.
• </c><00:34:54.159><c> The</c> mortgage. That's called redemption. The mortgage.
• </c> keep the house and continue mortgage keep the house and continue mortgage payments<00:35:09.760>
• The third is the process all over again.

Transcript Highlights:

• Also, many lenders are now refusing to write mortgages for condos if the association has underfunded
• Assembly Member Koloza discussed the importance of this bill relative to mortgage underwriters.
• This evaluation should be informed by mortgage industry stakeholder input.
• So even that, you know, the lien process and the collections process, I think, has to be elevated because
• And our responsibility is not just the process. Created with dignity, purpose, and potential.

Committee: House Judiciary

Transcript Highlights:

• Drill down one more layer for me and explain. collateralized mortgages to those properties.
• , add-ons to mortgages, is the affordability conversation.
• So there was a lot of thought process.
• So there was a lot of thought process.
• It was a multiple month planning, was a lot of thought process.

Summary: The committee heard a work session on earthquake insurance, beginning with background from the Office of the Insurance Commissioner. OIC staff explained that earthquake and earth movement are generally excluded from standard property policies, that earthquake coverage is usually purchased through endorsements or standalone policies with high deductibles and relatively high premiums, and that surplus lines are a limited backstop market not covered by the state guarantee fund. They also described parametric insurance and captive insurance as more specialized products generally suited to commercial or governmental buyers rather than ordinary consumers. A second panel of insurance and banking experts focused on commercial earthquake exposure, especially for older buildings, collateralized loans, and potential knock-on effects to banks and consumers if a major quake caused widespread damage. Members asked about consumer impacts, mitigation incentives, inventories of vulnerable buildings, and whether legislation such as prior work on unreinforced masonry could help reduce risk. The Washington Bankers Association said earthquake insurance is expensive and that affordability is a major concern, while also noting banks participate in disaster-recovery planning and would be affected by major regional losses. No votes or formal actions were taken. The committee then received a presentation from the Washington State Institute for Public Policy on its cannabis and Initiative 502 research. WSIPP staff described the agency as a nonpartisan research institute that conducts legislative-directed studies and explained that its long-term I-502 assignment includes periodic reports leading to a final benefit-cost evaluation in 2032. Staff summarized findings from a 2023 report showing that cannabis possession convictions fell sharply after legalization, though some racial disproportionalities persisted, and that closer retail access was associated with higher reported adult cannabis use, more fatal traffic crashes involving drivers from nearby areas, and higher rates of cannabis use disorder diagnoses among Medicaid enrollees. A 2023 youth-focused report found that students attending schools near retailers were more likely to report cannabis use, had more unexcused absences, and were less likely to graduate on time. In the newest 2025 Medicaid study, staff said retail access was associated with higher probabilities of cannabis use disorder diagnoses, related hospitalizations, inpatient treatment, and co-occurring mental health diagnoses, with event-study analysis suggesting the increases appeared after retailers opened rather than before. Members asked about racial disproportionality, the meaning of cannabis use disorder diagnoses, THC and impairment, whether the findings reflected medical versus recreational use, and how the results should be interpreted in light of broader trends and data limitations. No formal committee action was taken.

Transcript Highlights:

• It has the authority to make loans or deposits with mortgage lenders for the purpose of making mortgage
• It removes a requirement that loans and mortgage loans issued by the commission must go through a mortgage
• Is there any language to limit the amount of mortgage...
• It does not allow that to provide direct mortgages to single-family home buyers. Thank you.
• COVID was tough on our criminal justice process, but it was only a part of the issue.

Summary: The committee held a public hearing on a series of housing, education, workforce, and court-related bills. On Substitute Senate Bill 5884, staff described changes to a sales and use tax deferral for redeveloping vacant or underused land into affordable housing, including broader eligible property definitions and lower affordability thresholds in designated areas. Testimony was mixed: builders opposed language they feared could encourage project labor agreements, while Spokane and Kent representatives supported the bill but asked for flexibility on affordability mix requirements. On Senate Bill 6256, which expands a property tax exemption for nonprofit low-income rental housing to include certain co-located community uses during construction and extends the pre-construction exemption period, testimony was strongly supportive from housing nonprofits and local housing partners, with questions focused on clawback provisions. The committee also heard Substitute Senate Bill 6027, which expands allowable uses of local housing and supportive housing sales tax revenue, adjusts a REET exemption timeline, broadens emergency housing definitions, and changes use of the Affordable Housing for All account. County, housing, and nonprofit witnesses said the bill would help preserve housing and services amid federal funding uncertainty, though Snohomish County asked for an amendment to allow rental assistance. Substitute Senate Bill 6018 would revise the Housing Finance Commission’s authority, including direct lending and bond counsel terms; commission staff said it would modernize outdated restrictions and improve financing flexibility. Substitute Senate Bill 6028 would create a revolving loan fund for mixed-income homeownership projects; supporters said it would help smaller infill projects pencil, while staff noted the loans would be subordinate and carry some risk. Later, the committee heard Senate Bill 6275 on the community reinvestment program, which would require periodic plan updates, reporting, and a WSIPP study, while also expressing legislative intent to continue at least $100 million annually in the account. Advocates, workforce groups, legal aid providers, and small business owners testified that the program supports communities harmed by past disinvestment and should be made permanent and more accountable. Substitute Senate Bill 5961 would move the Imagination Library program from DCYF to OSPI; early literacy advocates and local partners supported the transfer as better aligned with school readiness. Substitute Senate Bill 5969 would integrate IEP transition plans with high school and beyond plans, and a prior critic said amendments addressed her concerns. Second Substitute Senate Bill 5292 would shift PFML premium rate-setting to the annual actuarial report and raise the reserve target; labor and industry witnesses supported the change, while a policy group opposed the program’s costs. The committee also heard Senate Bill 5868 to add one superior court judge each in Skagit and Yakima counties. Judges and county officials testified that caseloads, population growth, and backlogs justify the additions, and county leaders said they had already budgeted for their share. Finally, Substitute Senate Bill 5827 would allow service members to use pre-discharge certification to claim veterans’ civil service preference; the sponsor said it would solve a timing problem for transitioning service members. No votes or final committee actions were taken in the transcript, as the meeting consisted of bill briefings and public testimony.