Transcript Highlights:

• We've been paying attention.
• For example, Cushing is still paying out of the LOM. They're paying a lot of ad valorem.
• They're already paying.
• A lot of folks pay sales taxes, and they also pay income taxes, so it to me, it seems to be the same
• We are saying you pay gross production. We do not have to pay out of a LOM.

Bills: SB1287, SB1983, SB1796, SB1806, SB1558, SB2135, SB483, SB1198, SB1265, SB2154, SB2139, SB1552, SB2118, SB1775, SB259, SB1344, SB1380, SB2007, SB1572, SB2074, SB1423, SB1425, SB1502, SB1503, SB1833, SB1561, SB1555, SB2044, SB1749, SB904, SB1565, SB1500, SB667, SB1484, SB1562, SB1644, HR1045, SB227, SB1627, SB1475, SB1966, SB2049, SB1531, SB80, SB1734, SB1630, SB1894, SB1975, SB1432, SB1437, SB1812, SB346, SB710, SB1489, SB1614, SB2045, SB1250, SB1304, SB1501, SB1946, SB592, SB65, SB1257, SB444, SB640, SB2178, SB1242, SB1642

Keywords: abstraction, licensing, Oklahoma Abstractors Board, criminal background, good moral character, SB1983, foster care, resource family partner, resource family partners, Department of Human Services, DHS, child welfare, foster homes, foster children, placement data, data sharing, de-identified data, aggregated data, sibling groups, placement disruptions

Transcript Highlights:

• </c><00:01:50.000><c> a</c> brings them into alignment for paying a brings them into alignment for paying
• </c> this, but pay your fair share, right? this, but pay your fair share, right?
• I'm not paying my fair share.
• Same car, same road, take a left, you don't pay it. Take a right, you pay it.
• </c> would be responsible for paying the tax. would be responsible for paying the tax.

Keywords: 1187, senate, all

Transcript Highlights:

• The practice of paying a protected wage.
• </c> programs paying subminimum wage. programs paying subminimum wage.
• </c> It is important for businesses to pay It is important for businesses to pay individuals<00:27:05.840
• Pay minimum wage know that funds are not available to pay the cost of minimum wages to people choosing
• /c><00:47:25.400><c> people</c><00:47:25.720><c> with</c> allows us to pay people with allows us to pay

Keywords: 1187, senate, all

Transcript Highlights:

• Now, if you don't pay by whatever... ...that's your rate.
• They're the ones that end up paying the discount.
• instead of 53 bills to pay.
• They tend to pay a little closer attention.
• Don't pay any tax at all, our homeowners. They're not going to pay a lot of attention.

Summary: The subcommittee met with a quorum, approved the prior minutes, and focused primarily on property tax statement issues tied to the primary residence credit and the 5% early-payment discount. North Dakota Association of Counties representatives said the current special-session language creates problems because the discount is being applied even when no taxes are ultimately owed, and because the discount is calculated before the PRC funds are actually received. They recommended reverting to the prior law so the discount is applied after the PRC, and noted that all four programmers said they could revert the software to the earlier version if needed. The committee also reviewed a bill draft to remove the legislative tax relief line item from the required contents of the property tax statement. Members agreed the current line item is not especially accurate or useful on the statement, and several members said the committee should go further by adding clearer taxpayer education, such as a pie chart or other supplemental breakdown of where property taxes go. County officials said some counties already provide supplemental charts or explanatory material, but others would need help with printing, mailing, or formatting. To support that idea, staff presented a second bill draft creating a grant program, administered through the Association of Counties with OMB as a pass-through, to reimburse counties for supplemental property tax statement information and related administration. After discussion, the committee voted unanimously to combine the two bill drafts into one recommendation and forward it to the full Tax Reform and Relief Advisory Committee. The subcommittee then voted to adjourn after directing staff to prepare its summary and recommended bill draft for the interim report.

Transcript Highlights:

• The legislation provides new tools to make sure that the data centers pay the full costs of power and
• Cost causers pay.
• So the new facilities or emerging facilities in the state are going to pay their costs.
• their fair share. ...and families while data centers pay their fair share.
• for transmission, and help pay for new generation.

Bills: SB6171, SB5965, SB5982, SB6004, SB6010, SB5941, SB6050

Keywords: energy facilities, large energy consumers, regulation, environment, sustainability, retail bags, pollution, customer impact, consumer-owned utilities, clean energy, port districts, market customers, energy transformation, renewable energy, public entities, electric generation, contracting, SB 6010, Washington energy siting, EFSEC

Transcript Highlights:

• </c><00:45:26.800><c> And</c> to pay wages on time or in full. And to pay wages on time or in full.
• ,</c> which case you're entitled to more pay, which case you're entitled to more pay, or<01:07:06.080
• Thank you. pay for the the two hours. And I'll set pay for the the two hours.
• That is that is the hours of pay.
• </c> [clears throat] have to pay it out. [clears throat] have to pay it out.

Keywords: 1191, senate, all

Transcript Highlights:

• If you have a spouse or a child on there, the state pays 50% and the individual member pays 50%.
• Well, we pay for it. We do. You pay the state. The state. The taxpayers pay for it, okay?
• We pay monthly.
• So they will pay us.
• It's just that industry can pay.

Bills: SB 1

Keywords: campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards

Summary: The committee heard budget presentations from the Legislative Budget Board and agency officials on several agencies, starting with the Texas Historical Commission. LBB described a large biennial reduction driven mainly by the removal of one-time funding and discussed capital projects, rider changes, and exceptional items including Presidio La Bahia and the National Museum of the Pacific War. Senators asked about heritage trails, courthouse grants, unexpended balance authority, and the status of historical-site funding. Historical Commission leadership emphasized preservation, courthouse restoration, heritage tourism, coordination with the Alamo and other Texas Revolution sites, and requested additional IT, staffing, and vehicle funding. No votes were taken. The committee then reviewed the Pension Review Board and the Employees Retirement System. The Pension Review Board’s budget was largely unchanged aside from IT maintenance and salary adjustments, with an exceptional item for additional IT enhancements. Members discussed the Dallas Police and Fire Pension System’s funding dispute and the need for a workable restoration plan. ERS presented a much larger budget, including funding for the retirement system, the group benefits plan, and the legacy payment intended to reduce unfunded liability. Senators focused heavily on pension investment returns, benchmark comparisons, and rising health-care costs, especially pharmacy spending driven by GLP-1 drugs; ERS said the plan covers about 540,000 lives and that premiums would rise 8% while benefits remain unchanged. ERS also said it had no exceptional items, and committee members requested more detailed benchmark information. The committee also heard from the Texas Emergency Services Retirement System and the Cancer Prevention and Research Institute of Texas. TESSORS reported an unfunded liability, an infinite amortization period, and requested additional state support, staffing, and IT funding, including a statutory change to allow a higher contribution level; the agency warned that without more funding it may have to cut benefits. CEPRIT’s presentation covered its bond-funded cancer research and prevention portfolio, revenue-sharing from funded projects, and a request to increase salary limits for its CEO and chief scientific officer. Senators questioned CEPRIT’s accomplishments and return on investment, while CEPRIT cited screening, prevention, and research outcomes, including tens of thousands of detected cancers and precursors and hundreds of thousands of first-time screenings. The meeting ended after these presentations and questions, with no recorded committee action or vote.

Transcript Highlights:

• Paying for that, working and paying my bills, while also supporting...
• Paying for that, working and paying my bills, while also supporting $2,000,000. And supplies.
• Paying for that, working and paying my bills while also supporting two households and taking the classes
• , essentially paying twice just to work.
• I was locked in and paying out of pocket just to stay employed.

Summary: The Postsecondary Education and Workforce Committee met on January 27 and first took executive action on three bills. House Bill 2311, which makes administrative changes to the Workforce Education Investment Accountability and Oversight Board, was reported out with a do pass recommendation after the Leavitt amendment was withdrawn; supporters emphasized transparency, accountability, and student success metrics, while one member opposed moving it forward and urged more interim work. House Bill 2324, which extends tuition waiver access for children of eligible veterans when a disability determination occurs after age 18, passed unanimously. House Bill 288, the Dietitian Licensure Compact, was amended to delay implementation until July 1, 2028 and then passed unanimously as a substitute bill; members cited workforce shortages and the value of broader licensure portability. The committee then held public hearings on several bills. House Bill 2422 would shift private security guard licensing fees from individual guards to their employers, eliminate transfer fees, and penalize companies that require reimbursement; the sponsor and workers testified that the current system burdens low-wage guards and contributes to high turnover, while some members asked about whether fees could instead be lowered or eliminated. House Bill 2438 would create the SEEDS scholarship for early childhood education students using up to $10 million from the GET account if it remains sufficiently funded; the sponsor described it as a targeted test of surplus GET funds to address early learning workforce shortages, and testimony from educators, providers, and advocacy groups strongly supported it, while WASAC said the bill may need technical changes to avoid conflicts with existing 529 rules. The committee also heard House Bill 2525, which would create a WSU heritage orchard program and registry for old or rare apple varieties; the sponsor and industry witnesses said it would preserve agricultural history, support research, and aid future breeding and education. Finally, House Bill 2586 would align Passport to Careers with federal financial aid formulas and automatically deem Passport-eligible youth financially needy for the Washington College Grant; the sponsor and WASAC said it would help foster youth and homeless students access aid earlier and more predictably, and multiple students and advocates testified in strong support. No final action was taken on the bills heard in public testimony during this portion of the meeting.

Transcript Highlights:

• The legislation provides new tools to make sure that the data centers pay the full costs of power and
• The new facilities or emerging facilities in the state are going to pay their costs.
• If you're paying attention to what's actually happening, however, it's clear that it's to line their
• for transmission, and help pay for new generation.
• their fair share of costs. there's also a risk that Large loads to commit to paying their fair share

Summary: The committee first met in executive session on Senate Bill 5941, which would exempt certain school districts from a Washington State Energy Code requirement for onsite renewable energy systems on large new commercial buildings or additions. The committee adopted Senator Short’s amendment narrowing the eligible school district definition from 1,000 or fewer students to 500 or fewer students, then approved the bill as amended and sent it to the Rules Committee with a do pass recommendation. The committee then held a public hearing on Senate Bill 6171, a proposed substitute addressing emerging large energy use facilities, primarily data centers. Staff explained that the bill would require utilities serving such facilities to adopt tariffs or policies to protect other ratepayers, require long-term contracts and full cost recovery, allow curtailment during emergencies, add reporting and sustainability requirements, create a fee to fund energy assistance, weatherization, and higher education programs, and impose new clean energy and labor-related requirements. The prime sponsor said the bill is intended to protect affordability, reliability, transparency, and the public interest as data center demand grows. Testimony was mixed. Supporters, including community action groups, environmental organizations, some utilities, Ecology, and student representatives, argued the bill would prevent cost shifting, improve transparency, support low-income energy assistance, and help manage grid and climate impacts. Opponents, including data center representatives, public utility district and business groups, and some local government and port officials, said the bill was too prescriptive, could raise costs, threaten competitiveness, duplicate existing utility practices, and interfere with existing CCA/CETA provisions and local flexibility. No vote was taken on SB 6171 during the hearing, and the meeting adjourned after public testimony.

Transcript Highlights:

• I didn't pay you. You got five bananas.
• I didn't pay you. You got five bananas.
• But the part is, I don't want to pay for it.
• They're still paying those debts in DOT.
• We're still paying for 550. We're still paying for the rail runner.

Bills: SB2

Keywords: SB 2, State Highway Project Bonds, highway funding, transportation bonds, state road fund, motor vehicle fees, vehicle registration fees, electric vehicle fee, EV surcharge, plug-in hybrid fee, weight distance tax, road construction, infrastructure financing, Department of Transportation, State Transportation Commission, bonding authority, county road funds, municipal road funds, transportation improvement program, state highways

Transcript Highlights:

• They weren't allowed to pay.
• We're paying 80 percent of state employees.
• Well, I think they Were paying 100 percent.
• Who's paying for the judge's insurance? The judges pay for their own.
• It's also how we pay for the interns that we have.

Keywords: 996, all

Transcript Highlights:

• And people often say renters don't pay property taxes. It's not true.
• They think what they pay.
• I think about this: if I don’t pay my property taxes for 25 years and I pay...
• If that’s the case, there’s no recourse; nobody’s going to pay the tax at all.
• is just awful because nobody would pay.

Summary: The Select Committee on Property Taxes held its first meeting with opening remarks from the co-chairs and ranking member framing the committee’s task as developing property tax legislation for next session. Staff then gave a high-level overview of Florida property taxes, explaining how ad valorem taxes work, the roles of property appraisers, tax collectors, taxing authorities, value adjustment boards, and the Department of Revenue, and reviewing key concepts such as just value, assessed value, exemptions, taxable value, millage rates, homestead exemptions, Save Our Homes, and portability. The presentation also emphasized that property tax law is largely rooted in the Florida Constitution and that local governments choose millage rates, which affects collections. No public comment was taken. The committee then discussed five Speaker-proposed concepts. Proposal 1 would require cities, counties, and special districts to hold a referendum on eliminating property taxes on homestead properties; members raised concerns about local funding, public safety, special districts, renters, and the need for extensive voter education, with some suggesting countywide elections or town halls instead. Proposal 2 would create a new $500,000 homestead exemption for non-school taxes and a $1 million exemption for seniors 65+ or long-term homesteaders; members split between seeing it as meaningful relief for seniors and warning it could devastate local tax bases, especially in lower-value or rural counties, while also potentially trapping older homeowners in place. Proposal 3 would authorize the Legislature to raise homestead exemptions by general law; some liked the flexibility, but others worried about statewide one-size-fits-all impacts, political difficulty in reversing changes, and the need for local revenue replacement. Proposal 4 would change assessment caps for homestead and non-homestead property; several members said it would not provide enough relief and could shift burdens to rental properties and non-homestead owners. Proposal 5, eliminating foreclosure on homestead property for tax liens, drew the strongest opposition, with members saying it would undermine lien priority, mortgage and title systems, and incentives to pay taxes. Throughout the meeting, members repeatedly stressed the need to understand local fiscal impacts, including police, fire, infrastructure, and other services funded by property taxes, and to consider alternative revenue sources or offsets if taxes are reduced. The co-chairs said the committee is still in the information-gathering stage, that all ideas remain on the table, and that members should do “homework” by meeting with local taxing authorities and learning how property taxes are set and spent in their districts. The meeting ended with no votes on the proposals and adjournment after a motion to rise.

Transcript Highlights:

• This park, even though it has a lot of visitors, it doesn't pay for itself.
• It's their property, so they actually help pay for that.
• This park, even though it has a lot of visitors, it doesn't pay for itself.
• It's their property, so they actually help pay for that.
• It's their property, so they actually help pay for that.

Summary: The Joint Finance-Appropriations Committee first heard a budget presentation for the Department of Parks and Recreation. Legislative staff explained the agency’s structure, dedicated funds, and a proposed FY27 supplemental to transfer about $9.8 million in grant funds from a consolidated program into the current park operations program after a prior reorganization. The agency’s FY27 request also included dedicated-fund enhancements for additional park personnel, trail maintenance staff, and one-time improvements, with no general fund request. Director Susan Buxton described major capital projects completed with prior appropriations, including campground, marina, lodge, trail, and accessibility upgrades across the state, and said the investments had increased capacity and visitation. Committee members asked about access for Idaho residents, reservation pricing, and the effect of charging out-of-state users more. Buxton said the new reservation system is more mobile-friendly, out-of-state pricing has increased availability for residents, and a University of Idaho study is evaluating the impact. She also said the agency expects more campsites, boat slips, and day-use areas than originally projected. Members discussed the agency’s OHV education campaign, trail maintenance, and the new observatory at Bruneau Dunes State Park. No formal action or vote was taken during the Parks and Recreation presentation. The committee then reviewed the Office of the State Public Defender budget. Legislative staff summarized the agency’s staffing, fund balance, and FY27 requests, including six new trial attorney positions, secure hosted data storage, and laptop/data migration costs. Director Stephen Frederickson said the statewide system is now stable after a difficult transition from county-based defense, with vacancies down to about 7 percent and 55 new employees hired since July 1. He warned that further budget reductions would likely be absorbed through training cuts first, but could eventually force reductions in contract attorneys and increase caseloads, which he said would risk attorney turnover and constitutional problems. Members asked about county MOUs, Twin Falls staffing shortages, attorney levels, child protection cases, training, and the impact on county costs and property taxes. No vote was taken, and the committee adjourned after announcing the next day’s agenda.

Transcript Highlights:

• or pay the retention amount.
• They're providing recommendations on what to pay for the claim.
• So it's not that we're not paying for any cleaning, and we are paying for smoke damage.
• And if it's covered, we're going to pay for that.
• You won't have to pay as much in insurance, right?

Summary: The Assembly Insurance Committee held an oversight hearing on the California Fair Plan, focusing on its rapid growth, financial stability, rate adequacy, and role in the homeowners insurance market. Committee members described the Fair Plan as increasingly functioning as a “safety net” rather than a true insurer of last resort, while Fair Plan representatives said the plan was created by statute, is privately funded by member insurers, and is now taking on more business because of non-renewals and limited availability in the admitted market. They emphasized that the plan offers residential and commercial coverage, but not a full HO-3 homeowners policy, and said expanding into that product would require major new staffing, vendor, and claims infrastructure. A major topic was pricing and assessments. Fair Plan officials said their rates have historically lagged their projected costs, especially because reinsurance costs were not fully recoverable in rates until recently. They reviewed recent filings, including a 2023 filing that was reduced from an estimated 80% need to a 35.8% request after working with the Department of Insurance. They also discussed the plan’s reinsurance tower, a new catastrophe bond, and the $1 billion assessment triggered by the 2025 Los Angeles fires after losses exceeded available capital. They said AB 226 helped secure a $600 million line of credit to reduce assessment risk, and they thanked lawmakers for supporting that measure. Members raised constituent concerns about coverage limits, underinsurance, and misinformation from agents. Fair Plan officials said they do not deny applicants because their homes exceed the plan’s $3.3 million limit; instead, policyholders can combine Fair Plan coverage with excess insurance. They said broker training and webinars are being expanded to address misunderstandings, and they noted that raising the cap would depend on achieving actuarially sound rates and sufficient financial capacity. Members also asked about smoke claims from the 2025 fires; the Fair Plan said it has paid covered smoke claims under California law, reviewed closed claims, and removed the “sight and smell” language from its policy form after litigation and CDI action. Public commenters from the insurance industry, builders, agriculture, and nonprofit service providers largely urged faster depopulation of the Fair Plan, more adequate rates, and reforms to the clearinghouse process. Some warned that the Fair Plan is now competing with the admitted market because it can be cheaper in some areas, while others said the plan is still essential because the private market is not serving high-risk or specialized properties. The hearing ended without a vote or formal action, but committee members and Fair Plan representatives agreed to continue working on rate, transparency, and depopulation issues.

Transcript Highlights:

• Would their workers' comp benefits now be reduced by whatever the private policy pays?
• I mean, when it comes to what should an employer have to pay?
• No, the employer is paying what they needed to pay.
• He still has to pay back Medicare.
• That employee is still going to have to pay back ERISA the $20,000.

Keywords: 959, house, all

Transcript Highlights:

• If I go to the coin shop right around the corner and pay $500 in one cent, I don't have to pay.
• The state would still pay in dollars. It would pay it onto the platform.
• However, we don't pay for things generally with cash.
• We are not allowing people to pay us in gold or to deposit, make deposits in gold, or pay taxes with
• But the state wouldn't be paying gold. The state would be paying dollars to the platform.

Summary: The committee first took up SB 794, as amended by a late-filed strike-all, which would require a human being to make insurance claim denial decisions and prohibit artificial intelligence from being the sole basis for a denial. The sponsor said the bill was intended to preserve human oversight while allowing innovation in claims processing. Public testimony included support from the Florida Insurance Consumer Advocate and the Florida Medical Association, along with one speaker urging additional protections for homeowners. The committee adopted the strike-all and reported SB 794 favorably with committee substitutes. Members then heard SB 134, which removes the $500 threshold on the sales tax exemption for bullion, making sales of gold, silver, and platinum bullion fully exempt and eliminating certain dealer documentation requirements. Supporters argued the change would reduce a regressive tax and help consumers preserve savings; the sponsor estimated a revenue impact of about $300,000. The bill was reported favorably. The committee also adopted a strike-all on SB 888, which directs the Office of Insurance Regulation to create a more consumer-friendly homeowners insurance website with premium comparison information, market data, rate filing access, and educational resources. The sponsor and Leader Boyd said the goal was to improve transparency and help consumers navigate a stabilizing market. SB 888 was reported favorably with committee substitutes. The final bill heard was SB 1578, covering mammograms and supplemental breast cancer screenings. The sponsor said it would expand coverage requirements in ACA plans and private insurance policies, including annual mammograms for women ages 40 to 50 and supplemental screening coverage, while noting Medicaid already provides these services. The Florida Insurance Consumer Advocate waived in support, and the bill was reported favorably. After the bills, the committee held a lengthy panel discussion on gold and silver as legal tender and transactional money, with testimony from officials from Utah and Florida, industry representatives, and advocacy groups. Panelists discussed constitutional authority, consumer protections, depository oversight, taxation issues, and possible transactional platforms for precious metals. No further action was taken after the discussion, and the committee adjourned.

Transcript Highlights:

• They don't pay a cost when that happens, but builders pay a cost when they fail.
• Again, but that homeowner now pays these impact fees, and do they still continue paying the same tax
• Well, they pay the same water rates, yes. They pay the same water rates.
• So they'll pay a lower rate if they pay more up front? No, it's in the impact fee calculation.
• They are paying for everything.

Keywords: 1184, house, all

Transcript Highlights:

• paying the loan back.
• </c> paying uh for the first couple of years. paying uh for the first couple of years.
• </c> to pay for a second um we have to pay to pay for a second um we have to pay for<01:15:46.159><c>
• </c> though we pay for LMPD, we've had to pay though we pay for LMPD, we've had to pay again<01:16:11.760
• Place paying property taxes to pay the cost of remediating the site.

Keywords: Meeting Start 00:00:03 Roll Call 00:00:08 Discussion of Indiana Residential Infrastructure Fund 00:01:27 Discussion of Affordable Housing Trust Fund 00:33:30 Discussion of Urban Infill 01:12:37 Approval of Minutes from July Meeting 01:39:00 Adjournment 01:39:42, 958, all

Summary: The Housing Task Force heard a presentation from Anita Sanford of the Homebuilders Association of Kentucky and Sheri Cybert of Indiana’s Residential Infrastructure Fund about Indiana’s low-interest loan program for local housing infrastructure. They described the program as a voluntary, locally driven model that helps communities finance roads, sewers, sidewalks, traffic lights, turning lanes, and other infrastructure needed for new housing development. Sanford emphasized that infrastructure and regulation are major drivers of housing costs, citing estimates that infrastructure can account for up to 30% of a home’s cost and regulations another 25%, and said the association is studying Kentucky-specific regulatory costs. She also noted that every $1,000 added to new home construction can price out about 2,000 Kentucky households. Cybert explained that Indiana’s program, administered through the Indiana Finance Authority, began in 2023 with $75 million appropriated over two years and has since closed 17 loans totaling $60.7 million, with more than 2,700 projected housing units. The program reserves 70% of funds for rural communities and 30% for urban communities, requires applications from local governments rather than developers, and asks communities to show need through a market study, describe the infrastructure and housing to be built, and provide preliminary engineering plans and a repayment source. She said the loans currently carry an interest rate around 3.5%, reset quarterly, and that the program has generated about $25 million in savings to communities compared with private borrowing. She also described recent Indiana legislative changes that encourage higher density and other zoning reforms, and said a majority of those local ordinance changes must be adopted for an application to be fundable. Members asked about the ordinance requirements, the funding split between rural and urban areas, repayment mechanisms, and whether there were caps on project size. Cybert said repayment is worked out case by case, often through existing or project-specific TIFs, temporary tax agreements, or letters of credit, and that the program has no cap on request size or income/affordability restrictions. She said the largest request funded was $19 million for a 700-unit project. Co-chair Mills and others discussed whether Kentucky could adopt a similar model and what it would cost, while Sanford and Cybert said they were still refining budget estimates. Later, Scott Welch, president of the Homebuilders Association of Kentucky, testified that upfront infrastructure costs are a major barrier in his projects, citing a $1 million pump station and road-widening and utility relocation costs as examples, and said an infrastructure fund would help get projects off the ground.

Transcript Highlights:

• They do not pay that HIC amount today, but they will start paying that effective July 1, 2026.
• ><c> uh</c><00:29:48.720><c> July</c> will start paying that effective uh July will start paying that
• </c> health insurance moved from being a pay health insurance moved from being a pay as<00:37:25.599>
• </c> critically important benefit from a pay critically important benefit from a pay as<00:54:16.160>
• And then also school districts and other employers that are paying 3% of their members' pay toward the

Keywords: Meeting Start: 00:00:01 Attendance Roll Call: 00:01:26 Approval of Minutes: 00:02:27 Investment, Cash Flow, and Legislative Update: Bo Cracraft – Judicial Form Retirement System: 00:03:12 Ryan Barrow – Kentucky Public Pensions Authority: 00:21:52 Beau Barnes – Teachers’ Retirement System: 00:34:31 Adjournment: 01:07:25, 958, all

Summary: The meeting opened with the Pledge of Allegiance and prayer, followed by a roll call confirming a quorum and approval of the prior minutes. A special guest, Dave Eager, was welcomed before the committee moved to presentations from retirement system officials. Bo Craycraft, executive director of the Judicial Form Retirement System, gave a quarterly update on investment performance, asset allocation, and cash flow. He said the plans had held up well amid market volatility, with fiscal year-to-date returns above benchmark and long-term returns remaining strong. He explained that the plans are targeted to a 70% equity/30% fixed-income allocation, that some cash is being held for cash-flow management, and that negative cash flow is expected because of funding and contribution levels. He also said Senate Bill 183, dealing with proxy voting and economic analysis for certain votes, was not expected to materially affect the plans because of their small number of holdings and Bear Trust’s long-term investment approach. Ryan Barrow and Erin Surrod then presented for the Kentucky Pension Authority. They reported positive quarterly performance across the retirement and insurance funds, though results varied by period and remained tied to broader market conditions. They said recent asset-allocation changes had been completed and the funds were now within target ranges. On cash flow, they noted some plans remained negative or near zero, with one plan benefiting from a large appropriation. In the legislative update, they described House Bill 30 as codifying an exclusion from pension-spiking calculations for across-the-board raises, and Senate Bill 10 as increasing retiree health insurance subsidies and changing employee health insurance contribution rules for certain CERS members beginning in 2026. They also said Senate Bill 183 would likely have limited impact, though the agency would review voting policies and incorporate any required economic-analysis procedures.

Transcript Highlights:

• us versus what regular insurance pays us is very low.
• us versus what um regular they pay us versus what um regular insurance<00:52:35.280><c> pays</c><00:
• </c> that, they need to have a job that pays. that, they need to have a job that pays.
• So uh yeah, I just don't pay enough.
• </c><01:05:02.400><c> for</c> local residents in tower are paying for local residents in tower are paying

Keywords: 1187, senate, all