Transcript Highlights:

• integrity and having the voters trust you, that bill isn't going in definitely the wrong direction.
• The distribution to RTC just on the LAT gaming piece is $1,770,000.
• The distribution to RTC in FY27 would be $3,481,000 and some change.
• Distribution to RTC of Southern Nevada would be 1.775 for FY26 and then 3.6 roughly in FY27, but the
• We need to understand what products are legal for sales and distribution.

Bills: AB568, SB90, SB133, SB147, SB229, SB233, SB240, SB245, SB280, SB378, SB393, SB417, SB434, SB494, SB495, AB62, SB104, SB119, SB132, SB193, SB262, SB422, SB431, SB435, SB468, SB503

Keywords: higher education, Nevada System of Higher Education, operational expenses, instructional expenses, public funding, education funding, teacher grants, classroom supplies, instructional support, specialized personnel, civics education, Nevada Center for Civic Engagement, funding, youth programs, civic involvement, Southern Nevada, Clark County, Las Vegas Valley, regional planning, economic resiliency

Transcript Highlights:

• in our fuel distribution systems.
• , and I think of those children so confused and afraid when school should be a place that they can trust
• We want to make sure that not only is it illegal to distribute them or to promote them, but it's also
• Offer to sell, lend, give away, distribute, transmit, show, or transmute, have in his or her possession
• , custody or control with the intent to sell, lend, give away, distribute, transmit, show, or transmute

Bills: HB316

Keywords: Medicaid, healthcare, affordable care act, medical assistance, federal funding

Transcript Highlights:

• Help us trust that you are still at work, even in uncertain times.
• energy generation and distributed energy storage resources.
• That's our tax dollars, and we're asking them and trusting them to manage health care.
• So it comes down to whether we trust whoever is our Secretary of Health, because the Secretary of Health
• It's many tens of billions of dollars in contracts that are not vetted outside of LDH, and I trust that

Bills: HR265, HR266, HR267, HR268, HR269, HR270, HR271, HR272, HR273, HCR107, HCR108, HCR109, HCR110, HCR111, HR257, HR258, HR259, HR260, HR261, HR262, HR263, HCR105, HCR106, SCR30, SB57, SB157, SB202, SB237, SB276, SB450, SB465, SB501, SB525, HR3, HR80, HR197, HR243, SCR5, SCR35, HB4, HB623, HB944, HB986, HB1098, HB1222, SB34, SB164, SB172, SB198, SB208, SB232, SB281, SB286, SB317, SB322, SB334, SB380, SB385, SB409, SB417, SB421, SB430, SB439, SB447, SB458, SB510, SB398, HB646, HR84, HR188, HR205, SCR19, SCR3, SCR6, SCR18, SCR11, SCR22, SCR2, SCR20, SCR24, HCR6, HB301, HB359, HB657, HB675, HB680, HB727, HB302, HB819, HB1257, HB1258, SB8, SB10, SB11, SB12, SB13, SB14, SB16, SB17, SB18, SB20, SB21, SB22, SB40, SB48, SB55, SB69, SB75, SB77, SB78, SB85, SB102, SB115, SB133, SB140, SB148, SB151, SB165, SB169, SB170, SB185, SB197, SB200, SB217, SB235, SB278, SB280, SB291, SB300, SB303, SB315, SB324, SB330, SB411, SB416, SB420, SB436, SB438, SB449, SB455, SB456, SB477, SB489, SB521, SB45, SB58, SB71, SB81, SB92, SB100, SB109, SB141, SB156, SB181, SB203, SB204, SB205, SB207, SB213, SB214, SB216, SB229, SB257, SB274, SB290, SB304, SB374, SB379, SB396, SB410, SB425, SB427, SB429, SB479, SB522, HCR72, HB633, HB603, HB940, HB251, HB775, HB998, HB1191, HB625, HB1255, HB901, HR20, HR74, HCR65, HCR71, HB284, HB306, HB341, HB366, HB393, HB458, HB577, HB582, HB605, HB614, HB733, HB752, HB773, HB798, HB911, HB955, HB996, HB1035, HB1069, HB1113, HB1140, HB1180, HB1240, SB82, SB89, HB258, HB842, SB149, SB382, SB441

Keywords: Pineville High School, Lady Rebels, softball, LHSAA, Louisiana High School Athletic Association, Class 5A, state championship, high school sports, student athletes, commendation, resolution, athletics, girls softball, championship team, Pineville, school recognition, sportsmanship, coach Allison Frye, Louisiana legislature, House Resolution

Transcript Highlights:

• Yes, so those were appropriated in fiscal year 23 but then carried forward and distributed to districts
• Continuing to page 6, item 6 is an informational item on historical and projected distributions from
• Which starts on page 6 and continues on to page 7 is information on the pension trust fund corpus.
• We have a pension trust fund that is currently... currently valued at approximately $210 billion.
• That shows our pension trust fund performance over time.

Bills: SB1, SB 1

Keywords: appropriations, budget, state funding, education, healthcare, infrastructure, campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards, 1185, senate, all

Transcript Highlights:

• There are eight states that distribute this information upon request.
• What that means is if there's a trust or corporation or other artificial entity who owns one property
• If a trust or corporation owns more than one property, they still get one vote.
• When can consumers trust government spending? That $1.5 million is our money.
• When can consumers trust government spending? That $1.5 million is our money.

Keywords: 1064, all

Transcript Highlights:

• currently we already have federal and state investment mechanisms, specifically around Social Security Trust
• There is a trust fund. When that trust fund falls below a certain amount... There is a trust fund.
• When that trust fund falls below a certain amount, those premiums are supposed to go up.
• Now, in 2021, when we passed the internet sales tax, the businesses aren't even paying for the trust
• That money is all going into the trust fund. So now your constituents... I will wrap it up.

Summary: The committee took up eight bills and memorials and reported each favorably. It first passed HM 4063, a memorial urging Congress to lay the groundwork for a federal sovereign wealth fund. Sponsor Rep. Anderson described it as a long-term economic security measure, while several members questioned how such a fund would be structured, governed, and balanced against paying down debt. Ranking member Hunschofsky and Rep. Spencer raised concerns about transparency, market disruption, and the lack of specific parameters. The memorial passed on a recorded vote. The committee then approved CS/HB 139, allowing pawnbrokers to use digital transaction forms, with SMG testifying in support as a modernization and pro-business change. It also adopted an amendment and passed HB 1157, which tightens reemployment assistance requirements by adding work-search, interview, identity, immigration, and availability checks; the amendment added protection for missed interviews due to emergencies and removed an email reporting requirement. The Florida AFL-CIO and Florida Center for Fiscal and Economic Policy opposed the bill, arguing Florida’s unemployment system is already overly restrictive and that the proposal would further limit access to benefits, while supporters said it would ensure claimants are actively seeking work and verify eligibility. Members also passed CS/HB 497 to create nonprofit agricultural organization medical benefit plans for farmers and ranchers, with support from Americans for Prosperity, the Florida Hospital Association, and the Farm Bureau; CS/HB 729 to authorize veterinary professional associates to perform limited duties under veterinarian supervision, with testimony from veterinarians and advocates citing access and workforce shortages; and HB 311, a right-to-repair bill for motorized wheelchairs, which drew strong support from disability advocates who described long repair delays, high costs, and the impact on independence and health. Rep. Tramont praised the wheelchair repair bill during debate, and the committee voted it favorably. Finally, the committee passed CS/HB 1549, an Office of Financial Regulation agency bill intended to help regulate financial institutions more efficiently, and CS/HB 715, which allows licensed roofing contractors to perform roof-to-wall connections during reroof or repair projects and extends the emergency cancellation window to 180 days after a declared emergency. HB 715 was amended to require a contract notice advising property owners to verify insurance coverage before signing when the work is tied to an insurance claim. Roofing industry groups and home inspection representatives supported the measure as a way to reduce costs and improve wind mitigation. At the end of the meeting, the chair announced the agenda was complete and the committee rose.

Transcript Highlights:

• state level is the distribution charges. state level is the distribution charges.
• Pages will collect and distribute the senator's amendment.
• <02:27:34.960> is talking about the public trust is talking about the public trust is clearly
• In 2017, we did not pass the Trust Act.
• <03:10:32.800> the will collect and distribute the will collect and distribute the senator's

Keywords: Senate streaming session for Monday, April 13, 2026, 960, senate, all

Summary: The Senate reconvened with a quorum and first honored Nancy Crawford with a resolution recognizing her 46 years of state service, including 20 years as Senator Pam Beidle’s chief of staff. Senator Beidle then spoke at length about her own retirement plans and public service, reflecting on her career in the House and Senate, her work on the Finance Committee, and thanking her staff and colleagues. The chamber unanimously journalized the remarks. The Senate then moved into business on House and Senate messages, including House Bill 139 and Senate Bill 311, and adopted a conference committee report on House Bill 1532, the Utility Relief/Reducing Energy Load for Inflation measure. The report was described as a broad energy and utility package that had already passed the Senate 38-4 and was said to address short-, medium-, and long-term issues, including rate relief, in-state generation, data center policy, consumer transparency, and low-income utility assistance. During debate on the conference report, the majority leader explained several changes from prior versions: no legislative ban on forecast test years, instead deferring to the Public Service Commission; removal of gas programs from Empower to avoid inequities across service territories; modest opening of the retail supply market with guardrails; and rejection of some floor amendments, including a gas line extension provision and a study amendment. The minority leader argued the bill offered only limited relief, focused too much on talking points and short-term savings, and said many bipartisan amendments were not retained. The majority leader responded that the bill would save ratepayers real dollars through provisions on utility adders, executive bonuses, FERC-related returns, and new generation, and urged adoption of the conference report.

Transcript Highlights:

• We store all the liquors, we distribute it out, we buy it.
• we make sure that we have Wyoming... ...we make sure that we have Wyoming specific data that we can trust
• Could conduct or commission studies that were trusted, objective, and third party.
• I'm with the Nrona Collective Health Trust out of Casper, and given Mr.
• The state would distribute them through Medicaid, and that might be something I also could pull up and

Keywords: 916, all

Transcript Highlights:

• Uh these are trusted<00:04:44.160> sources<00:04:44.680> of<00:04:44.800> education,
• <00:04:45.680> local trusted sources of education, local trusted sources of education, local
• And, Senator Pratt, we will have it distributed.
• Senator Pratt, we will have it Senator Pratt, we will have it distributed<00:12:00.600> the distributed
• the distributed the the the the the<00:12:02.600> bill<00:12:02.920> is<00:12:03.120><

Keywords: 1187, senate, all

Transcript Highlights:

• how that's distributed how that's distributed >> the<00:33:10.960> um<00:33:11.760>
• The impact trust fund is spending authority of $35 million. These three are special fund spending.
• The impact trust<00:52:55.359> fund<00:52:55.680> is<00:52:55.920> spending<00:52
• :56.240> authority<00:52:56.640> of<00:52:56.880> $35 trust fund is spending authority
• of $35 trust fund is spending authority of $35 million.<00:52:58.160> This<00:52:58.319> is

Keywords: Appropriations - Room 216, 18 February, 2026; 11:00 AM, 925, all

Summary: The committee began with process instructions about using committee substitutes, identifying bills with reverse repealers, and taking up noncontroversial items in blocks. It then approved Senate Bill 3051, the DFA budget, which included LBR-level funding with a reverse repealer and agency-by-agency allocations for the status of women, DFA, tort claims, state property insurance, BEAM, and Mississippi Home Corporation. Senate Bill 3052, the governor’s support budget, was also approved as a final-action bill without a reverse repealer, with members noting the reduction from the prior year was tied to lower federal funding. The committee then handled the IHL budget bills. Senate Bill 3053, the general support bill, included a 3% across-the-board raise for IHL professors and $20 million for repair and renovation at universities, plus $5 million for UMMC; it passed as a committee substitute with a reverse repealer. Senate Bill 3054, the original IHL-related bill, passed without a committee substitute. Bills 3055 through 3059 were taken up in block and approved, providing 3% increases for A units at Alcorn State and Mississippi State. Senate Bill 3060, student financial aid, added about $7.7 million for scholarship costs, including MESG, MTAG, and Winters-Reed loan repayment, and passed as a committee substitute. The committee also approved the larger IHL budget bill with a reverse repealer and discussed, but did not fund, a UMMC cancer center request at that stage. Subcommittee 3 presented education-related bills. Senate Bill 3062 was approved at LBR with a reverse repealer and included a large transfer from the education enhancement fund. Senate Bill 3063 added $15 million for repair and renovation and $8.11 million for faculty pay raises, and passed as a committee substitute with a reverse repealer. On Senate Bill 3064, the Employment Security Commission budget, members discussed whether the committee substitute included a reverse repealer and noted they might revisit that on the floor if needed; the bill was advanced. Subcommittee 4 then took up Senate Bills 3065, 3066, 3068, and 3069 in block and approved them: Ethics Commission funding increased for salary realignment and a database; Judicial Performance Commission language was tightened to freeze the director’s salary and ensure youth court oversight funds were used solely for that purpose; Tax Appeals Board funding was increased to restore cuts and vacancy funding; and Workers’ Compensation Commission funding rose to cover commissioner salary increases and related language changes. Later, the committee approved Senate Bill 3067 for the Department of Public Safety, which included a reverse repealer, LBR-level funding, additional money for furniture for the new headquarters, and reappropriation language. Senate Bill 3071, the GCRF bill, was approved with a reverse repealer and reappropriation language for prior-year projects. Senate Bill 3072, the Department of Mental Health budget, was approved with a reverse repealer and included $12 million for the Canopy project, prior-year invoice funding, and language tied to mental health-related legislation. Finally, Senate Bills 3073 through 3075 were taken up in block for licensing boards, with increases for the Chiropractic Examiners, Dental Examiners, and Pharmacy boards, including funding for licensing system updates, vacancy funding, and expansion of the pharmacy recovery program.

Transcript Highlights:

• And so I trust in our author to continue those conversations and some of the issues raised here, both
• But I trust in you and know that you have an incredible ability to bring those coalitions together to
• It requires jurisdictions to distribute a meaningful share of multifamily and lower-income housing.
• It requires jurisdictions to distribute a meaningful share of multifamily and lower-income housing in
• higher-income areas, mandates rezoning when the site distribution fails to meet AFFH requirements even

Summary: The Assembly Committee on Housing and Community Development heard a long agenda focused mainly on housing production, higher education facilities, homelessness, and permitting reform. Early items included AB 6, which would direct HCD to convene a working group on allowing three- to ten-unit “missing middle” housing to be built under the Residential Code rather than the Building Code; AB 48, a higher education bond proposal that would fund campus repairs, modernization, disaster recovery, and student/employee housing; and AB 76, which would clarify a Chula Vista university innovation district exemption so the project can include academic buildings and housing without conflicting with surplus land rules. Supporters emphasized affordability, cost savings, student housing needs, and access to education, while members raised questions about implementation, affordability requirements, and project scope. The committee later took votes on these items, with AB 6, AB 48, and AB 76 all moving forward on unanimous or near-unanimous votes to Appropriations. Members also heard AB 595, which would create a state homeownership tax credit pilot to support affordable for-sale housing. The author and supporters argued that California’s homeownership rate is at historic lows and that the bill would help close racial wealth gaps by financing homes working families can buy. The committee approved AB 595 and sent it to Appropriations. The consent calendar, including several other housing-related bills, was also approved unanimously. A major portion of the hearing was devoted to AB 1165, the California Housing Justice Act of 2025, which would require ongoing state investment and a financing plan to address homelessness and housing affordability. The author and witnesses described the scale of homelessness, the limits of one-time funding, and the need for sustained, accountable funding streams. After testimony from housing advocates and people with lived experience, the committee passed AB 1165 on a 10-0 vote to Appropriations. Finally, the committee heard AB 609, a CEQA reform bill that would create a simplified exemption for qualifying infill housing projects in already developed areas. Supporters framed it as a targeted way to reduce delays and costs for housing near jobs and transit, while opponents from environmental justice, labor, and tribal groups warned it could reduce public participation, weaken protections for disadvantaged communities, and create consultation concerns for tribal cultural resources. The author said the bill would not change zoning or affordability tools and would continue to work with opponents on amendments. The bill was moved forward after extensive discussion, with members noting ongoing negotiations on tribal consultation and labor concerns.

Transcript Highlights:

• I am a semi-retired land use attorney, although I've been doing mostly estate and trust work recently
• estate<00:18:37.520> and<00:18:37.960> uh<00:18:38.320> and<00:18:38.480> Trust
• <00:18:38.760> work estate and uh and Trust work estate and uh and Trust work recently<00:
• We have a fuel distribution section that maintains 87 fuel sites statewide.
• <00:38:59.560> section<00:39:00.160> that have a fuel distribution section that have

Keywords: 928, house, all

Summary: The Public Works and Highways Committee held an orientation meeting focused on introducing members, outlining committee norms, and hearing an overview from the Department of Transportation. Chair David Mills emphasized the committee’s long-standing bipartisan working style, asked members to share contact information for short-notice scheduling, and noted that the committee would need to complete as much work as possible before the building is vacated later in the year. Members introduced themselves and described backgrounds in engineering, construction, planning, local government, military service, education, and business. Several members highlighted prior service on planning boards, school boards, zoning boards, or in transportation-related fields as relevant to the committee’s work. Members repeatedly described the committee as collegial and nonpartisan, with most bills going to the consent calendar. The chair also noted that the committee’s work centers on state infrastructure, including roads, bridges, highways, and buildings. Representative Cluder, the ranking member, and others echoed that the committee is effective because it talks issues through and resolves disagreements collaboratively. One member mentioned a recent trip that reinforced the importance of infrastructure resilience after storms and rebuilding efforts in other states. Department of Transportation officials, led by Assistant Commissioner and Chief Engineer David Rodrig, gave a detailed organizational and operational overview. They described DOT’s structure, mission of “transportation excellence,” and major responsibilities across highways, bridges, rail, transit, aeronautics, maintenance, and administration. Rodrig reported 1,651 permanent positions and 404 vacancies, 2,160 state bridges with 115 on the Red List, 4,600 centerline miles of roadway, 25 public airports, 11 transit systems, and 194 active state-owned rail lines. He also outlined FY 2024 spending, project development activity, highway maintenance operations, fleet and fuel systems, and the distinction between the highway fund and DOT’s budget, including the role of federal funds and the turnpike enterprise fund. No votes were taken and no bills were acted on during this orientation meeting.

Transcript Highlights:

• if we keep it at the house trust level? if we keep it at the house trust level?
• Health Trust is the largest one.
• <05:15:32.718> The health trust external actuaries. The health trust external actuaries.
• <05:43:32.638> So, as a sponsor interlocal trust. So, as a sponsor interlocal trust.
• provide quotes except for health trusts. provide quotes except for health trusts.

Keywords: 928, house, all

Summary: The committee first heard Senate Bill 47, sponsored by Senator Regina Birdsell at the request of the Insurance Department. The bill would clarify that a birth mother’s health insurance is the primary policy for a newborn’s care unless the mother has no coverage or no employer-sponsored coverage. Birdsell and Insurance Commissioner DJ Benton Court said the measure simply codifies the department’s long-standing interpretation of existing law. Representative Miles asked whether the coverage would extend to a grandchild if a young woman on her parents’ plan had a baby, and Birdsell said it would. The hearing on SB 47 was then closed. The committee next heard Senate Bill 121, introduced by Grant Bosi for Senator Kevin Avard. The bill requires insurers to notify the Insurance Department when they stop writing an entire line of business or, in some cases, when they change Medicare Advantage offerings. Benton Court said the bill was prompted by disruption in the Medicare Advantage market, where consumers and the department were confused by carriers exiting, changing plans, or narrowing offerings. He said the department does not regulate Medicare Advantage itself, but does license the carriers, and the notice requirement would help the department advise consumers; he also said noncompliance could affect a carrier’s license and could lead to fines. Members discussed the notice period, and the department and AHIP indicated support for changing it from 120 days to 90 days to align with federal timing. The hearing was closed with plans to work on an amendment in subcommittee. Finally, the committee heard Senate Bill 247, introduced by Representative Brian Cole, which would prohibit network exclusion for pharmacies that refuse to dispense prescriptions when PBM reimbursement is below acquisition cost. Cole said the bill is meant to stop pharmacies from being forced to sell at a loss. Members questioned whether pharmacies voluntarily enter PBM contracts, whether the bill would raise consumer prices, and whether it would mainly affect independent pharmacies. Cole and others said the issue has changed over time because PBMs now control a much larger share of the market, and that the bill would let pharmacies refuse loss-making fills and direct patients to mail order instead. The discussion also noted that the bill excludes Medicare and Medicaid and that the current proposal does not create a middle-ground option for patients to pay a premium at the counter.

Transcript Highlights:

• Um, we have been working with UNM and the political science department to track trust in in our election
• process over the years, and over the years trust has consistently grown in our election process.
• Um, we may be responsible at least in part in terms of distributing those, um, so we know we're looking
• But with, with distributing it and, uh, getting information out, I understand that it, it could be.
• Maybe it's not as big of a hit as it gets distributed out, um, in the grand scheme of things.

Transcript Highlights:

• Now I'll get into the interaction between gaming manufacturers, distributors, distribution.
• He'll also be working with you to get some of that off the website and just get it distributed to our
• Number five is fines, fees, and forfeitures that go to the Common Schools Trust Fund.
• Just a question on the fines and forfeitures that go to the State Common School Trust Fund.
• That would also go to the state tuition fund or the Common Schools Trust Fund.

Keywords: 908, all

Transcript Highlights:

• She added that the vast majority of local water distribution systems are severely overtaxed, so it makes
• systems are severely water distribution systems are severely overtaxed,<01:08:25.319> it<01:08
• And I'm comfortable today um moving forward with it and trust that people will keep working on it as
• with<01:13:47.640> it<01:13:47.800> and<01:13:48.040> and<01:13:48.520> trust
• <01:13:49.000> that forward with it and and trust that forward with it and and trust that

Keywords: 1187, senate, all

Transcript Highlights:

• First, using disinformation to erode trust in election systems.
• First, using disinformation to erode trust.
• We are in year 10 of a steady campaign to degrade Americans' trust in our electoral system.
• And as leaders, voters look to everyone in this room for trusted information.
• in this room for trusted information. in this room for trusted information.

Keywords: 1187, senate, all

Transcript Highlights:

• Please distribute those to the committee. >> Clerk. >> Yes. Thank you.
• Um, we I distributed the committee.
• fiscal impact and I will distribute fiscal impact and I will distribute those<01:21:33.760> to
• I trust the people at DRRA to come back with solutions that are both legal and workable.
• ,<03:13:40.239> and vaccine ordering, distribution, and vaccine ordering, distribution, and

Keywords: 1189, house, all

Transcript Highlights:

• But one thing we can do now is to look at the distribution of changes in output per worker over the past
• The distribution across industries is pretty much the same.
• First of all, we have seen in news you can trust or not trust.

Keywords: 1182, all

Summary: At the April meeting of the Finance Advisory Committee, staff presented an updated state revenue forecast that was more cautious than January’s because of heightened economic uncertainty tied to the Iran conflict and broader national risks. The general fund’s available resources were revised down from $577 million in January to $378 million in the April forecast, with the lower estimate driven by reduced revenue projections while spending assumptions were unchanged. Staff said the outlook depends heavily on how long the Middle East conflict lasts and noted that a prolonged disruption could weaken the forecast further, while a quick resolution could improve conditions. George Hammond of the University of Arizona gave a broad economic overview, highlighting geopolitical risk, elevated oil and gasoline prices, sticky inflation, weak Arizona job growth, and uncertainty around federal policy, tariffs, immigration, and AI-related investment. He said Arizona’s recent job growth has been very weak and concentrated mainly in health services, while most other sectors lost jobs, and he attributed much of the slowdown to low hiring rather than layoffs. He also discussed population growth, noting that Arizona remains above the national average but is increasingly dependent on net migration as natural increase slows, and he warned that housing affordability remains strained even as Phoenix inflation has moderated. Panelists generally echoed the cautious outlook but pointed to some offsets. Liz St. Clair said Arizona’s near-term revenues could benefit from tourism tied to spring training and the Final Four, though higher fuel costs could dampen discretionary spending. Other panelists noted that the federal policy environment, tariffs, and immigration changes are likely to restrain growth, while productivity gains, especially from technology and AI, may help businesses maintain output. Several members also discussed housing, saying single-family permits have fallen while rental supply has improved affordability, and they raised concerns about labor-force growth, wage disparities, and the reliability of recent employment data revisions. No formal votes or actions were taken.

Transcript Highlights:

• One thing we can do now is look at the distribution of changes in output per worker over the past couple
• The distribution across industries is pretty much the same.
• First of all, we have seen in news you can trust or not trust.

Summary: The Finance Advisory Committee received an update on the state revenue forecast and broader economic conditions. Staff said the April forecast was more cautious than January’s, citing greater uncertainty from the Iran conflict and other macroeconomic risks. Available general fund resources for the four-year period were revised down from $577 million in January to $378 million in April, with no change to expenditure estimates. George Hammond of the University of Arizona then presented on the national, state, and local economy, emphasizing risks from geopolitical conflict, tariffs, federal policy uncertainty, labor supply constraints, and elevated housing costs. He said Arizona job growth had been weak and driven mainly by health care, while inflation in Phoenix remained moderate but shelter and consumer commodity prices were still elevated. He also noted that population growth is increasingly dependent on net migration as natural increase slows. Panelists generally echoed the cautious outlook. Liz St. Clair said Arizona’s near-term revenue outlook still had some support from tourism and a strong spring season, but rising fuel costs and the duration of the Middle East conflict could pressure discretionary spending and revenues. Jim Rounds argued the economy was likely headed for a soft landing, though he warned that federal borrowing, inflation, workforce shortages, and energy reliability remain concerns; he also criticized leaving the Rainy Day Fund unused. Danny Court said the housing market remains under pressure on the ownership side, while rental supply and industrial demand have been relatively strong, and he noted sticky inflation and immigration declines as additional risks. Doug Walls explained that large employment benchmark revisions were affecting Arizona’s job numbers, and said the latest report showed slower but more balanced growth, though labor force declines and a higher unemployment rate were concerning. Lorenzo Romero added that business activity appears resilient in the low-hire, low-fire environment, but warned about debt burdens, uneven wage growth, and ongoing uncertainty. No votes or formal actions were taken.