Transcript Highlights:

• This cap has remained unchanged since 2011, despite a 43% increase in inflation and a 69% increase in
• It would be more like a 60% or 70% increase in those deals.
• It will increase the number of units per development.
• The result of this loss is $174 million of assessed valuation, a 32% amount of my entire tax valuation
• The result of this loss is $174 million of assessed valuation, a 32% amount of my entire tax valuation

Bills: SB434, SB844, SB898, SB1177, SB1214, SB1454, SB1920, SB1927, SB1935, SB1965, SB2010, SB2046, SB2068, SB2073, SB2183, SB2260, SB3034, SB907

Keywords: SB 434, Harris County Hospital District, hospital district police, peace officers, commissioned officers, law enforcement authority, Health and Safety Code, Code of Criminal Procedure, public safety, hospital security, county hospital district, local government, Texas criminal procedure, district police, armed security, SB 898, low income housing tax credits, LIHTC, affordable housing, Texas Department of Housing and Community Affairs

Summary: The committee heard several bills dealing with local government authority, homeowners associations, hospital district policing, school AED inspections, special district annexation, public contracting penalties, and guaranteed income programs. Senate Bill 2073 by Sen. Zaffirini would clarify that appraisal districts may finance purchases, leases, or construction of real property for appraisal offices without prior approval from taxing units; it was supported by the Texas Association of Appraisal Districts and left pending. Senate Bill 1935 by Sen. Hinojosa would increase homeowner control of property owners association boards, require more transparency, limit fines and assessment increases, and require accessible meeting locations; HOA and builder representatives opposed it, arguing it would hinder maintenance and make dues harder to manage, and the bill was left pending. Senate Bill 434 by Sen. Miles would authorize Harris County Hospital District police officers, was supported by Harris Health, and was left pending. Senate Bill 1177 by Sen. Alvarado, as substituted, would require school AED inspections during fire inspections and reporting to school leadership; it was left pending. Senate Bill 1214 by Sen. Perry would update Concho County Hospital District law to align with current procurement and notice rules; it was left pending. Senate Bill 1965 by Sen. Middleton, for Sen. King, would tighten notice and proximity rules for special district annexations; district witnesses warned the bill could interfere with service to noncontiguous tracts, and the bill was left pending. The committee also took up Senate Bill 2046 by Sen. Bettencourt, which would increase criminal penalties for county purchasing act violations involving unauthorized separate or sequential purchases to evade competitive bidding, and create a tiered penalty structure based on contract amount. Former Harris County DA Kim Ogg, Deputy Attorney General Josh Reno, and James Quintero supported the bill, citing recent Harris County bid-rigging cases and arguing the current Class C misdemeanor penalty is too weak to deter misconduct; some members questioned whether the proposed thresholds were too low and whether stronger oversight, rather than higher penalties alone, would be more effective. The bill was left pending. Finally, Senate Bill 2010 by Sen. Bettencourt would bar counties and other political subdivisions from operating guaranteed income programs and address constitutional gift-clause concerns. Testimony split sharply: Ogg and Quintero argued such programs are unconstitutional, can be used for political data collection, and should not be funded with public money, while Paige Terry Barry defended the bill as protecting taxpayers and discouraging dependency. Senators also debated whether the state can restrict use of federal grant funds and whether local governments should be allowed to run such programs; the bill was left pending.

Transcript Highlights:

• Without amendment, this bill rewards violation of our law, giving special privileges and special valuation
• It could increase demand and market stability for grape farmers like myself, which we are struggling
• Uh, it could increase demand and market stability for grape farmers like myself, uh, which we are struggling
• but what this specific wording of it does, narrowing it down to 2 G permits, it gives them special valuation

Bills: SB8, SB650, SB667, SB779, SB1349, SB1355, SB1378, SB1585, SB1721, SB2312

Keywords: immigration enforcement, ICE agreements, sheriff grants, law enforcement, county jail, federal immigration law, China, Chinese-affiliated entities, Chinese military companies, People's Republic of China, Chinese Communist Party, divestment, state pension funds, public retirement systems, Teacher Retirement System, Employees Retirement System, Permanent School Fund, Texas Comptroller, foreign investment, national security

Summary: The Senate Committee on State Affairs resumed consideration of several pending bills, first taking up Senate Bills 667, 1349, 1585, and 2312. After inviting testimony had already been heard, no members of the public came forward to testify on any of those measures, and the committee closed public testimony and left all four bills pending. The committee then heard Senate Bill 1355, which Senator Parker explained as a committee substitute aimed at helping Texas distillers recover unpaid invoices from wholesalers. The substitute would require distillers to invoice at the time of purchase, send a demand letter if payment terms are violated, and allow complaints to be filed with the Texas Alcoholic Beverage Commission, which could determine an appropriate penalty based on the facts. Natasha Dehart of Bent Distilling Company testified in support, describing serious cash-flow problems and unpaid invoices from a Texas wholesaler that had forced layoffs, late vendor payments, and operational strain. No one testified against the bill, and it was left pending. The committee also heard Senate Bill 1378, a narrowly tailored local bill for a Carrollton facility recently acquired by Sazerac that employs more than 1,000 Texans. Senator Parker said the bill would create a limited exemption to avoid forcing the company to shut down or move because of current permit restrictions, while preserving the three-tier system and preventing the company from selling wine to itself. A Texas Alcoholic Beverage Commission resource witness said the bill was drafted so it would not open the door to broader industry changes. Mason Moreland testified against the bill as filed, arguing it gave special treatment to one company and failed to address broader problems in the wine industry, including direct-to-consumer sales and permit issues. After questions from senators, public testimony closed and SB 1378 was left pending. The committee then recessed subject to the call of the chair.

Transcript Highlights:

• It seeks to address the increasing incidents of the detrimental effects of light pollution on Kentucky's
• And I like about this bill is that it's all of that information on valuation up front in the negotiating
• that it's all of that<00:10:05.720> information<00:10:06.320> on<00:10:06.400> valuation
• on valuation that up front<00:10:08.360> in<00:10:08.520> the<00:10:08.600> negotiating
• 658 would require the Transportation Cabinet to promulgate ordinary and emergency regulations to increase

Keywords: Meeting Start 00:00 Attendance Roll Call 00:30 HB 571 Discussion 01:29 HB 571 Roll Call Vote 04:02 HB 542 Discussion 06:01 HB 542 Roll Call Vote 10:21 HB 142 Discussion 13:30 HB 142 Roll Call Vote 22:47 HB 212 Discussion 24:00 HB 212 Roll Call Vote 25:40 HB 658 Discussion 27:01 HB 658 Roll Call Vote 32:02, 958, all

Transcript Highlights:

• Again, dramatic increase. I believe that’s virtually a doubling.
• property valuation. property valuation.
• equalized valuation. equalized valuation. and<00:51:42.960> it<00:51:43.200> would
• Again,<00:53:09.040> dramatic<00:53:09.599> increase.
• I believe Again, dramatic increase.

Keywords: 928, house, all

Summary: The Education Funding Committee Subcommittee on Adequacy and Funding Sources opened its second meeting by reviewing four retained bills assigned to it: HB 651, HB 772, HB 491, and HB 734. The chair said the goal was to compare the bills across the board, consider whether any one of them should be the committee’s recommended vehicle, and then vote on a recommendation to the full committee. He noted the bills would move out before November 21 and be taken up on the House floor in January, while related LSRs were also being developed for the coming session. Representative Ames argued that HB 651 should be the main vehicle because it would substantially raise the adequacy base and adjust differential aid categories to better reflect real school costs, including poverty, special education, and English learner needs. He described the bill as building on court guidance and said the current funding formula is far below actual district needs. He also supported HB 491 as a study vehicle to examine revenue options, saying the legislature needs informed choices about how to pay for the changes. Representative Damon strongly backed HB 651 and HB 491, citing constitutional obligations, the Conval and Rand rulings, and large projected funding increases for districts such as Claremont, Windham, and communities in the chair’s district if HB 651 had passed earlier. Representative Fellows said he has an LSR similar to HB 491 that would study existing and new revenue options using criteria such as revenue potential, administrative cost, affected groups, implementation timeline, and implementation cost, with input from revenue administration and outside agencies. Representative Papich Muller emphasized constitutional separation-of-powers concerns, reading Article 83 and saying he was not comfortable with the broad claim that “cherish” clearly mandates a specific spending level, though he said he intends to follow Supreme Court guidance. Representative Ricky read testimony from a local school board member arguing that the state already imposes many mandates on schools while providing the least funding in the country, and that HB 651 would help restore meaningful local control. No final vote or action was taken in the portion provided, though the chair had indicated the subcommittee would vote before adjournment.

Transcript Highlights:

• staffing, I'm pleased to announce that our office has now grown to just over 200 employees, a 30% increase
• Not only can it increase the cost for consumers, but it also may reduce incentives to install those needed
• When the agency returned, it increased the price.
• When the agency returned, it increased the price, rejected a lower independent appraisal, and continued
• They have gone to seek financing four times, and in that time, the valuation of the property has increased

Summary: The committee met as a subcommittee for much of the hearing because it initially lacked a quorum, then later established one and began taking votes. The state auditor gave a status update on ongoing audits, including several JALAC-requested audits in progress, other statutory audits, staffing growth in his office, and the number of new JALAC audits his office could start in the coming months. The committee also heard that one audit request on Prop. 28 was held, and another PUC-related request was moved off consent and heard on the regular calendar. Members then heard and discussed several audit requests. Senator Cervantes presented a request to audit California fusion centers, with witnesses from the FBI and ACLU supporting the need for transparency and oversight; opponents argued the request was politically motivated and could interfere with counterterrorism work. Senator Allen presented a request on CPUC enforcement of Rule 21 interconnection timelines for solar and storage projects, supported by industry and school representatives who described long delays and financial harm, while CPUC staff said the issue was being addressed through workshops and a formal proceeding. Senator Perez presented a request to audit Caltrans’ administration of the former SR 710 extension properties and affordable sales program, citing tenant complaints about maintenance, pricing, and transparency; Caltrans said it was working to complete sales and improve administration. Senator Umberg presented a request to audit the Orange County Board of Education over transparency, contracting, litigation spending, charter oversight, and whistleblower issues, while board representatives said there was no factual basis for an audit and that existing legal remedies had not been invoked. After quorum was established, the committee approved the consent-calendar DMV license revocation audit and then approved the PUC utility timeliness audit and the Caltrans SR 710 audit. The fusion center audit was left on call after a split vote, and the Orange County Board of Education audit continued with testimony from the board’s representatives after the committee had already moved on to other business.

Transcript Highlights:

• Thank you very much. increase of approximately 470 million I increase of approximately 470 million I
• on what the equalized valuation on what the equalized valuation adjustment<01:44:29.360> does
• correct and um and so by increasing so correct and um and so by increasing so so<01:46:13.119> my<
• <01:47:02.560> is equalized valuation is equalized valuation is identical<01:47:04.760>
• on we can even take on the increases on we can even take on the increases that<02:02:23.639>

Keywords: 928, house, all

Summary: The Education Funding Committee met in executive session and first took up HB 193, which limits the maximum credits per course eligible for the Dual and Concurrent Enrollment Program. Representative Ladd said the bill clarifies that eligible courses may not exceed four credits and was requested by the community college system. Representative Earth offered an amendment to make the bill effective on passage, which the committee adopted 18-0. The committee then approved HB 193 as amended by an 18-0 OTPA vote and placed it on the consent calendar. The committee next retained HB 295, concerning School Building Aid program funds, after Representative Spillsbury said the building aid bills were complex and needed more work. The motion to retain passed 18-0, with the chair explaining that retained bills can be revisited later and that related language could be moved among building aid bills. HB 354 was not acted on because the chair said the Department of Education and others had suggested possible changes that should be worked out first. HB 366, another school building aid bill, was also retained 18-0 for the same reasons as HB 295. The committee then considered HB 494, which funds the math learning communities program. Representative Earth offered an amendment to flat-fund the program, reducing the proposed increase by a net $50,000 and keeping funding at current levels for the biennium. After discussion about budget pressures and the program’s role in supporting math instruction and professional development, the amendment passed 18-0, and the bill as amended was approved 18-0 and placed on consent. Finally, the committee took up HB 515, which would repeal charter public school eligibility for state school building aid. Representative Popovici-Muller moved inexpedient to legislate, arguing charter schools should not be treated differently from other public schools, while Representatives Luno and Damon opposed the motion, saying charter schools differ in governance and financial risk and should not receive limited state building aid. The motion failed 10-8, so HB 515 was sent to the regular calendar. The committee assigned Representative Damon to the minority report and Representative Popovici-Muller to the majority report, with a noon deadline the next day. The committee then began HB 716, an appropriation for the dual and concurrent enrollment program. Representative Ladd described the program as a successful affordability measure that saves families money and supports college access. Representative Earth offered an amendment to flat-fund the program at current levels, reducing the proposed increase by $500,000 in each year of the biennium. Shannon Reed of the Community College System said the change could limit enrollment or the number of funded courses, though students could still take additional courses at their own expense. Representative Ladd explained the program’s tuition structure and said the funding would help meet demand; the transcript cuts off before the final vote on HB 716.

Transcript Highlights:

• <00:32:28.720> because issue the titles does increase because issue the titles does increase
• Have you had to increase staff? >> Yep. Have you had to increase staff?
• So, yeah, theft is increasing, values are increasing. I'm going to stick with the 20. Anybody else?
• <01:27:00.400> I'm increasing, values are increasing.
• I'm increasing, values are increasing.

Keywords: 1189, house, all

Transcript Highlights:

• plan can use the new assumptions in the valuation a year later.
• Thank you, Miss Wilson. actuarial valuations. The use of the actuarial valuations.
• <00:03:27.760> or them for use in the next valuation or them for use in the next valuation
• <00:03:34.720> So in the valuation a year later. So in the valuation a year later.
• So the increasing group of future hires.

Keywords: 1187, senate, all

Transcript Highlights:

• No tax increase. Senate Bill 190 does not raise taxes.
• It does not increase the tobacco tax or create any new taxes.
• It's a significant increase on SB 151 is not a technical cleanup bill.
• It's a significant tax increase on investment.
• This is a tax increase on New Mexico employers.

Bills: SB190, SB152, SB77, SB150, SB151, SB156, SB172, SB182, SB185, SB212, SB170, SB133, SB174, SB163

Keywords: cancer treatment, revenue bonds, Gila Regional Medical Center, Nor-Lea General Hospital, healthcare funding, telecommunications, low-income assistance, lifeline, broadband, rural broadband, universal service fund, public regulation commission, PRC, 911 surcharge, telecommunications relay service, VoIP, mobile service, internet affordability, digital equity, digital inclusion

Transcript Highlights:

• Over the last 10 years, while my budget has increased by 110%, my call volume has increased by 150%.
• EMS, like many other tech centers,... is facing the same challenges: increasing costs of materials and
• We're talking about increasing the cap from 10 to 15 percent. 10 to 15 percent.
• We have an ever-increasing overall budget and revenue.
• It remains there and is growing substantially just because of the... ...increased authority that we've

Bills: SB868, SB1337, SB1371, SB1377, SB1426, SB1620, SB2064, SB2065, SJR4, SJR 4

Keywords: SB 868, rural volunteer fire department assistance program, volunteer fire department assistance fund, Texas Government Code, wildfire, wildland fire, high-risk wildfire area, fire suppression, rural fire departments, volunteer firefighters, emergency response, public safety, grant allocation, appropriations, disaster preparedness, tax penalties, interest calculation, overpayment, tax law, refund process

Transcript Highlights:

• This bill rewards violation of our law. giving special privileges and special valuation to Sazerac. company
• It could increase demand and market stability for grape farmers. like myself, which we are struggling
• What this specific wording of it does, narrowing it down to 2G permits, it gives them special valuation

Bills: SB8, SB650, SB667, SB779, SB1349, SB1355, SB1378, SB1585, SB1721, SB2312, SB 8

Keywords: immigration enforcement, ICE agreements, sheriff grants, law enforcement, county jail, federal immigration law, China, Chinese-affiliated entities, Chinese military companies, People's Republic of China, Chinese Communist Party, divestment, state pension funds, public retirement systems, Teacher Retirement System, Employees Retirement System, Permanent School Fund, Texas Comptroller, foreign investment, national security

Transcript Highlights:

• and many of them had not seen increases and many of them had not seen increases in<00:08:51.519>
• huge increases in their grants. huge increases in their grants.
• They won't gain the extra 10. valuation alone. So basically the low valuation alone.
• neutral didn't increase the uh the cost. neutral didn't increase the uh the cost.
• of a low equaliz equalized valuation. of a low equaliz equalized valuation.

Keywords: 1191, senate, all

Transcript Highlights:

• So it's a 2.8 increase for the second one.
• So it's a 2.8 increase the second one.
• We have one contract renewal and amendment for property valuation services. >> Any qu? >> Yes, sir.
• We we will increase time extension only.
• and amendment for property valuation and amendment for property valuation services. services. services

Keywords: 924, joint, all

Transcript Highlights:

• Um, they shall not be revised, changed, or redistributed, or increased.
• distribution of the appropriation to be 75% on a per capita basis, 25% using the inverse assessed valuation
• . inverse assessed valuation.
• And it's that 75% for the per capita, and then the 25% by the inverse assessed valuation factor.
• So, 75% generally around population, 25% around the inverse of assessed valuation.

Keywords: 916, all

Transcript Highlights:

• <01:12:22.960> 118% costs increased 118% costs increased 118% $1.2<01:12:25.840> million
• We're seeing increasing needs.
• <03:51:01.319> excluding<03:51:01.960> facility increases excluding facility increases
• construction so that annual increases construction so that annual increases align<03:51:05.279><
• Increasing SWEPT means increasing property taxes for everybody and reducing state aid.

Keywords: 928, house, all

Summary: The hearing focused on HB 563, which would revise the education funding formula for pupils receiving special education services by replacing the current single special education amount with three differentiated categories. Representative Rick Ladd, the prime sponsor, said the bill largely tracks a House-passed version from the prior session with minor figure adjustments, and explained that the proposal uses projected FY26 amounts for three categories based on time in general education versus more intensive placements. He also noted that the bill does not address catastrophic aid directly, but that special education aid, CAT aid, and proration all remain issues for later work sessions. Ladd and supporters argued that weighted categories better reflect actual costs and are more sustainable than treating all IEPs the same. Representative Margaret Drye said the approach was one of the best ideas from the education funding subcommittee and urged the committee to support differentiated aid. Representative Ames asked how the category amounts were derived, and Ladd said Category A follows the FY26 base, Category B is a higher weight, and Category C is a still higher weight for more intensive services, though he acknowledged the exact multipliers were developed earlier and could be revisited. He also said the committee would continue discussing whether the weights are appropriate and how they interact with CAT aid. Testimony from Bonnie Dunham strongly opposed the bill. She argued that funding based on placement rather than actual service need would create incentives to move students into more restrictive settings, could stigmatize children with labels such as "Category C," and would undermine the least restrictive environment requirements under federal special education law. She described her son’s experience in inclusive settings as beneficial and said the bill would have penalized the district for serving him there. In response to questions, she said schools and parents should base funding on the child’s actual needs and costs, not on placement, and urged the committee to recommend the bill inexpedient to legislate.

Transcript Highlights:

• through the settlement and achieving that $200 million valuation.
• in Staffing and uh and an increase in Staffing and uh budgets<00:41:17.640> in<00:41:17.760><
• And this increases the valuation threshold of development subject to a special management area minor
• <00:50:53.640> the<00:50:53.880> valuation<00:50:54.680> threshold<00:50:55.559>
• of increases the valuation threshold of increases the valuation threshold of development<00:50

Keywords: 912, senate, all

Summary: The committee first took up SB 534, a measure concerning development in Kakaʻako Makai involving the Hawaii Community Development Authority and the Office of Hawaiian Affairs. The chairs explained that the hearing was decision-making only and no testimony would be accepted, though members could ask clarifying questions. The chair outlined amendments to clarify HCDA’s approval process, require an environmental impact statement before residential development proposals are submitted, require Department of Health documentation on hazardous substances, and specify that only OHA-owned parcels would be eligible for certain residential development with a 400-foot height limit and maximum floor area ratio of 10.0. The amendments also addressed affordability, owner-occupancy, association fees, and a special fund, while noting Attorney General concerns that the fee could be construed as a tax and suggesting further review by Judiciary and Ways and Means. Members discussed the affordability threshold, with one senator suggesting 160% AMI instead of 140% due to high housing costs and concern that essential workers could be priced out. Others raised concerns about Native Hawaiian affordability, the long-term effect of perpetuity restrictions, and whether the process would protect OHA’s interests. An HCDA representative said 140% AMI was used in existing reserve housing rules and that lower thresholds could make development economically infeasible. OHA and other supporters said the proposal was still early in planning and emphasized the need for public hearings, community input, and compliance with environmental and remediation standards. The committees voted to pass SB 534 with amendments: Water and Land approved it 4-1, and Hawaiian Affairs also adopted the chair’s recommendation, with one member excused and one voting no. The meeting then moved to SB 3, relating to water resource management. The bill would authorize the Commission on Water Resource Management to retain independent legal counsel, create an executive director position, allow challenges to emergency orders under certain conditions, establish fines for water use offenses, and revise emergency and shortage declaration procedures; Red Hill-related provisions were noted as removed from this version. Testimony was largely supportive, including from DLNR, the Board of Water Supply, OHA, and Sierra Club, with OHA stressing the measure’s importance to Native Hawaiian water rights and past litigation. A Department of Hawaiian Home Lands representative supported the bill with amendments and recommended explicit language directing the commission chair or designee to advocate for water rights and reservations for homelands. The chair indicated the committees would use the prior Senate-passed version as the basis for further action, and the discussion then moved on to SB 130, a search-and-rescue reimbursement bill.

Transcript Highlights:

• They are not allowed to increase the costs for political subdivisions.
• And so every time we lowered our assumed rate of return, our unfunded liability increased.
• <03:53:51.239> page increased page increased page 12<03:53:53.760> the<03:53:53.960>
• future and as a result of this valuation future and as a result of this valuation that's<04:01:49.000
• <04:35:42.199> each decreas increasing each decreas increasing each year<04:35:44.719>

Keywords: 928, house, all

Summary: The committee held an orientation for new and returning members of the House committee on agencies and administration, with introductions from members and staff. Chair Carol Maguire outlined her expectations for hearings: keep questions focused on the bill, be respectful to witnesses, and use the committee’s orientation opportunities to learn about the jail staff, retirement system, and Office of Professional Licensure. Members also discussed related assignments on other bodies, including the Joint Legislative Committee on Administrative Rules and the Joint Committee on Employee Classification, and noted that some members already serve on those panels. A substantial portion of the meeting focused on the State Building Code and the committee’s upcoming workload. Members explained how the state code is intended to provide a common baseline while allowing limited local options, and why municipalities must formally adopt and publish any local amendments. They reviewed several anticipated bills: a consolidation bill to gather building-code enforcement materials in one place, a bill to update the state energy code, a bill to restrict municipal adoption of building-code changes, and a bill to update the electrical code. Members also discussed how building codes apply to older homes and commercial buildings, and why code updates are important for safety and clarity. The chair said the committee had 36 bills currently scheduled, including many early bills that must move by March 6 because they will be heard by two committees. She said the committee would use subcommittees for harder bills, with three subcommittees this year: pensions, licensing, and likely state building code. She also outlined the hearing schedule, including lighter bills on February 12 and the expectation of executive sessions later in the month. No votes were taken during the orientation, but members were told that public hearings do not require a quorum and that hard copies of bills would be distributed by committee staff.

Transcript Highlights:

• Uh, we've increased the employer rate, and we're increasing it year over year for the next few years.
• uh and we're increased the employer rate uh and we're increasing<00:13:06.480> it<00:13:06.639
• So all those things are increase.
• Did that not increase the years.
• the um it then I like the word increase the um it did<00:20:32.559> increase<00:20:32.720>

Keywords: Finance - Room 216, 20 January, 2026; 10:30 AM, 925, all

Summary: The committee heard an update from PERS Executive Director Higgins, who reported that the system has about $38 billion in assets, earned roughly 11.7% last fiscal year, and is about 57% funded. He thanked lawmakers for a newly passed $1 billion funding bill and emphasized that funding the existing system remains the top priority. Higgins also noted that the board’s actuarially recommended contribution is about 26% of payroll, while the system is currently receiving about 18.4%, and said PERS will return later in session with a few requested bills. Higgins addressed several policy topics under discussion this session, including return-to-work rules, first responders, and Tier 5. He said return-to-work changes are possible if the law is changed and funding implications are addressed. For first responders, he said any special treatment should be done within PERS rather than by creating a separate system, with the affected group and parameters clearly defined and fully funded. He also said the new Tier 5 hybrid plan is being implemented on track for March 1 and is projected to improve the system’s long-term financial position by reducing future liabilities and helping pay down the unfunded liability. Members then questioned Higgins about the system’s funding policy, the 30-year closed amortization period used in the ADC calculation, and whether that approach should be revisited in light of recent funding actions and changes in assumptions. Higgins said the board reviews the policy annually, that the closed amortization approach was chosen to better pay down the unfunded liability, and that the annual valuation and experience studies already incorporate recent funding changes, Tier 5, and the phased employer-rate increases. He acknowledged that a significant new infusion of funding could justify reviewing the amortization period, but cautioned against changing it too often because it could undermine progress toward paying down the unfunded liability.

Transcript Highlights:

• <00:04:37.840> at were increasing at were increasing at $5,000<00:04:40.199> okay<00
• to 75 hundredths of 1% increase.
• So they increased it.
• So they increased it.
• So they increased it.

Keywords: 928, house, all

Summary: The committee took up House Bill 2 provisions affecting the New Hampshire Retirement System, focusing on Group 2/Tier B retirement changes in pages 25 through 39 of the bill. NHRS Executive Director Jan Goodwin and deputy chief counsel Mark Kavanaugh explained that the 2025 bill is largely similar to prior versions and to HB 727, with the main difference being that the 2025 version does not include the earlier increase in the maximum benefit. They also said the fiscal note for HB 2 is based on earlier actuarial work and that an updated valuation was expected later in the week. A major topic was whether the bill accidentally removed an anti-spiking or special-duty compensation limit. NHRS said the omission appears to be a scrivener’s error caused by moving language between Group 1 and Group 2 definitions, and they planned to flag it in the fiscal note. Members also reviewed the bill’s intent to restore Tier B members to pre-2011 benefit rules, including changes to earnable compensation, average final compensation, and the comp-over-base rule. Some members questioned whether restoring those older rules was appropriate, arguing the 2011 changes were meant to curb pension spiking and that undoing them could be problematic. The committee also discussed the bill’s cost and funding assumptions. NHRS said the 2025 bill would reduce unfunded actuarial liability by about $98.2 million and would have a more favorable effect than the 2023 version, while employer contribution impacts would remain relatively small. Members noted the bill assumes annual appropriations of $27.5 million for 10 years, but House Bill 1 currently provides only $5 million in the first year, and NHRS had not yet analyzed the effect of that shortfall. No votes were taken in the portion provided; the discussion was informational and focused on clarifying the bill’s language, intent, and fiscal impact.

Transcript Highlights:

• This bill will significantly increase the number of sites available.
• Chairman, you've asked the authors to drop the minimum wage increase.
• Thresholds or double-density concepts increase theoretical development capacity.
• Policies such as SB 79 from 2025 do help increase housing development near public transit.
• SB 79 from 2025 does help increase housing development near public transit.

Keywords: 987, senate, all