Transcript Highlights:

• Yeah, on the alternate seating. >> He's going to ask you a question right now.
• 18.760> another in many sections, um because another in many sections, um because another alternative
• 20.200> simply<01:48:20.480> don't<01:48:20.640> have<01:48:20.800> a alternative
• is you simply don't have a alternative is you simply don't have a rule<01:48:21.040> set.
• for the program because they were continuously enrolled in another public school public education pathway

Keywords: 1189, house, all

Summary: The meeting began with quorum and seating issues, including the temporary appointment of Representative Shaw to fill in for a House member, followed by approval of the previous minutes and the consent calendar. Two items were then postponed to next month: Mechanical Licensing Board item 25-241 and Board of Veterinarian item 25-223. The committee then took up Department of Energy rulemaking on distributed energy resources interconnection procedures, including items 25-220 and related sections on fees, additional controls, and equipment. The Department explained revised language to address concerns that the original draft improperly suggested agency or PUC approval of utility fees; under the amended language, utilities would set fees designed to recover costs, with complaints handled through existing complaint procedures. Committee members and the Department discussed the statutory basis for that approach, including cost responsibility versus fee-setting authority. Public testimony was mixed. A small solar developer argued the rules still exceed statutory authority, impose unfair costs on customer generators, and allow utilities to shift transmission-related study costs onto interconnecting customers. Clean energy advocates supported the Department’s revised language but asked for clearer limits on charging customers for later-added controls, arguing costs should be tied directly to the customer’s interconnection and not to later utility-driven changes. Eversource supported the revised fee language, said most prior concerns were resolved, and recommended conditional approval, while also suggesting a minor wording change in the “Additional Equipment” section to clarify that only operational performance is covered.

Transcript Highlights:

• The Chair will alternate recognition between the parties, with time equally allocated between the parties
• The Chair will alternate recognition between the parties, with time equally allocated between the parties
• The chair will alternate<00:10:08.240> recognition<00:10:08.800> between<00:10:09.120><
• c> the alternate recognition between the alternate recognition between the parties<00:10:10.000><
• WEDI has created pathways to economic mobility, empowered working families, and helped build a more inclusive

Keywords: U.S. House of Representatives Floor Proceedings on Wednesday, June 10, 2026, 1012, house, all

Transcript Highlights:

• I will just continue to reiterate that since the proposed alternative to this is to cut the education
• I will just continue to reiterate that since the proposed alternative to this is to cut the education
• I will just continue to reiterate that since the proposed alternative to this is to cut the education
• I will just continue to reiterate that since the proposed alternative to this is to cut the education
• I will just continue to reiterate that since the proposed alternative to this is to cut the education

Keywords: 928, house, all

Summary: The committee first considered an amendment to add a new “Lakes” license plate to HB 2, with proceeds directed to the cyanobacteria fund for lake cleanup. Representative McGuire said the bill had already passed on consent and asked that it be included in HB 2; members discussed that it had also gone to the Senate. The motion to adopt the amendment failed on a 7-8 vote. The committee then took up an amendment imposing a 5% administrative fee on certain dedicated funds, with several exemptions for funds that could not legally or appropriately be charged, such as those involving federal money or bequests. Supporters said it would make the treatment of dedicated funds more consistent and raise roughly $31 million over the biennium for the general fund, while opponents questioned the number of carve-outs and who currently pays the administrative costs. The amendment failed on a 4-5 vote. Next, the committee reconsidered and then adopted an amendment changing the distribution of business profits tax and business enterprise tax revenue, reducing the share going to the Education Trust Fund from 41% to 30% and increasing the General Fund share. Supporters argued the Senate had overfunded the Education Trust Fund and that the change would help balance the budget without changing education spending levels; opponents said they could not support taking money from the Education Trust Fund. The amendment passed 5-3. The committee also adopted, by the same 5-3 margin, an amendment incorporating HB 741 language on open enrollment and student attendance in public schools, with supporters calling it House policy and opponents noting it had been a close, partly partisan vote in the House. Finally, the committee considered a change to the University System of New Hampshire budget that would reduce general fund appropriations by $40 million per year, offset in part by $15 million in previously approved unique dollars for a net reduction of $25 million per year. Supporters said the cut was necessary to balance the budget and that other options had been exhausted; opponents called it harmful to the university system and argued the committee should instead look to other areas, including education freedom accounts, for savings. The discussion continued, but the transcript excerpt ends before a final vote on the UNH item.

Transcript Highlights:

• Section 25, pages 98 through 99, deal with a statement relative to alternative fuels policy.
• This is a statement of what the General Assembly views alternative fuels and alternative jet fuels as
• This is a statement of what the General Assembly views alternative fuels and alternative jet fuels as
• This is a statement of what the General Assembly views alternative fuels and alternative jet fuels as
• > jet alternative fuels and alternative jet alternative fuels and alternative jet fuels<00:41:02.160

Keywords: Meeting start 00:00:00 Roll Call 00:00:12 SB 28 Discussion 00:01:33 SB 28 Vote 00:04:05 SJR 26 Discussion 00:05:32 SJR 26 Vote 00:07:10 HB 741 Discussion 00:08:30 HB 741 Vote 00:14:00 HB 544 Discussion 00:15:40 HB 544 Vote 00:28:15 HB 775 Discussion 00:31:20 HB 775 Vote 00:56:00 HJR 33 Discussion 01:00:25 HJR 33 Vote 01:01:40, 958, all

Summary: The committee met on March 11, 2025, with a quorum present and first adopted a committee substitute for Senate Bill 28. The bill would create a framework for using $5 million previously set aside for agricultural economic development through the Kentucky Department of Agriculture, including loan and grant programs. Members asked about changes in the substitute, and the sponsor explained that it revised the board composition to include members with more experience in finance, lending, and economic development. SB 28 was approved 20-0 and reported favorably. The committee then approved Senate Joint Resolution 26, which directs the Department for Medicaid Services to provide the Legislative Research Commission a report on pharmacist pay parity and the cost of allowing independent pharmacists and pharmacies to be reimbursed by Medicaid for services within their scope of practice. The sponsor and Kentucky Pharmacists Association representative described it as a request for information rather than a policy change. The resolution passed 20-0 and was reported favorably. House Bill 741, relating to public water and wastewater systems, was next. The sponsor said the substitute incorporated Kentucky Infrastructure Authority recommendations, clarified best management practices, and allowed storm water inflow and groundwater infiltration reduction projects to be scored more fairly alongside water projects. Members discussed how the bill narrows eligibility to systems most in need and refines the scoring process for the program created last session. HB 741 passed 20-0, was reported favorably, and received a title amendment. The committee also considered House Bill 544, a branch budget bill amendment creating a new SAFE fund for the most recent Eastern Kentucky flood disaster, indexed to the relevant presidential disaster declaration. The bill would allow state money and other funds to support local governments, utilities, school districts, and other eligible recipients for recovery costs, planning, and short-term liquidity, with reimbursement provisions if FEMA or other sources later pay. Members discussed the amount of available funding, the use of prior SAFE fund balances, and the emergency clause. HB 544 passed 20-0, was reported favorably, and a title amendment was adopted. The committee then began House Bill 775, relating to development areas, and adopted PHS 2 and a committee amendment; the sponsor started explaining the bill’s provisions on development areas, tax increment financing, brewers’ electronic filing, distilled spirits property tax language, income tax reduction conditions, tourism development incentives, and other tax-related sections, but the transcript cuts off before final action on the bill.

Transcript Highlights:

• That's an alternative type of policy. Recently, and I think North Carolina does that.
• That's an alternative type of policy, but also the value of the federal motor fuel tax has gone down.
• We do have more alternative fuel vehicles on the road.
• alternative products.
• There may be other alternatives out there, some legal, some not so legal, but alternative products are

Keywords: 994, senate, all

Summary: The Senate Finance Committee met with a quorum present and first approved the minutes from the January 15 morning meeting. The main agenda item was the Department of Revenue’s budget and revenue presentation from Secretary Eric Nelson, Deputy Secretary Peter Shirley, and Deputy Secretary Mark Mucco. Nelson said the state remains double-A rated with a positive outlook, the budget includes a 5% personal income tax reduction, and the 2027 general revenue estimate is $5.493 billion, up $170 million from the prior year. Shirley gave an economic overview, saying West Virginia is forecast to see continued but slowing employment growth, continued wage growth, gains in private education/health services and business services, declines in some sectors, improving labor force participation relative to the nation, and strong recent net in-migration. He also noted continued growth in natural gas production and a modest rebound in coal production, though coal faces longer-term demand pressure. Mucco reviewed revenue trends and said 2025 collections were about $5.5 billion, below the prior year but above estimate, with personal income tax and sales tax driving the surplus. He explained that the forecast incorporates the 5% PIT cut and annual conformity to the federal One Big Beautiful Bill Act, including changes such as Section 179 expensing, bonus depreciation, R&D expensing, business interest deductions, and a new manufacturing facility expensing provision. He also discussed the effects of tax credits, severance tax volatility, declining tobacco revenues, and health care provider tax changes tied to federal Medicaid rules. He said road fund revenues are largely flat absent policy changes, and county commission revenues are growing faster than state revenues. Members asked about when new economic development projects like NewCore would appear in the projections, how much 20,000 new jobs would matter, whether the department had a calculator for job-growth impacts, the status of recent tax cuts, road fund growth, tobacco/vape taxation, and whether migration data could be broken down by county. The witnesses said major projects are not yet in the S&P-based forecast but would likely add jobs, wages, and tax revenue over time; they estimated 20,000 jobs would be a significant increase. They also said the state is unlikely to hit the current personal income tax trigger in the near term. No substantive votes were taken beyond approving the minutes, and the committee adjourned after a motion carried by voice vote.

Transcript Highlights:

• This initiative would permit each appointing authority to designate alternates to convene, vote, and
• This is pertinent because the inability to appoint alternate members has created some challenges for
• This provision ensures that no vacancies disrupt board proceedings and allows alternates to step in as
• I urge a no vote and perhaps an alternative way to address this issue through future legislation.
• I want to just remind everybody this particular bill is focused on making sure that there's alternates

Summary: The Assembly convened after a quorum call, observed a moment of silence for Pope Francis, and later held a separate remembrance ceremony for the 110th anniversary of the Armenian Genocide. Members and guests heard extensive remarks in support of HR 25, which was adopted by voice vote after 70 co-authors were added. Speakers from both parties and several caucuses emphasized historical truth, remembrance, and solidarity with Armenian Californians, and the chamber also observed a moment of silence for the genocide victims. On the floor, members also passed AB 789 on health insurance rate oversight, ACR 56 recognizing Parkinson’s Disease Awareness Month, AB 652 on San Diego County Air Pollution Control District alternates despite opposition from one member over regional balance concerns, AB 1414 protecting renters from mandatory internet provider subscriptions, AB 931 regulating litigation finance agreements, AB 890 easing residency rules for foster youth moving counties, AB 40 clarifying emergency reproductive health care coverage with urgency, AB 322 encouraging school-based health and mental health reimbursement programs, and AB 639 narrowing the definition of dams for certain weir operators. Most measures passed by wide margins, including several unanimous votes. The consent calendar, including AB 1149, AB 484, AB 859, AB 1105, and AB 1384, was adopted without objection. The Assembly also handled procedural motions, committee notices, and bill re-referrals earlier in the day. The house then announced upcoming committee meetings and adjourned until Thursday, April 24 at 9 a.m.

Transcript Highlights:

• >> Representative Bonner: So there is in statute some portions that actually do have a pathway for dispute
• specific part. >> Representative Bonner: So there is in statute some portions that actually do have a pathway
• trainee is field, the trainee is being a trainee is the<00:21:04.480> only<00:21:04.880> pathway
• to<00:21:05.919> becoming<00:21:06.320> a<00:21:06.480> licensed the only pathway
• to becoming a licensed the only pathway to becoming a licensed independent<00:21:07.600> professional

Bills: SF1750, HF4250, HF3938, HF3904, HF3642

Keywords: common interest community, CIC, homeowners association, HOA, condominium, planned community, cooperative, unit owner, association board, declarant, declarant control, special declarant rights, assessment lien, foreclosure, late fees, fines, attorney fees, resale disclosure, annual report, maintenance plan

Transcript Highlights:

• These two bills in combination would remove woody biomass from the alternative energy supply definition
• very strongly support these bills because we feel that the incentive that has been created, the alternative
• gas emission reduction standard. ...from the alternative energy portfolio standard and the greenhouse
• They're expensive, so you get an incentive of an additional alternative energy credit.
• Biomass should not be counted as alternative energy, clean energy, or in the emission standards from

Keywords: 995, all

Summary: The hearing focused mainly on two subjects: expansion of the Massachusetts bottle bill and bills to remove woody biomass from state clean-energy and greenhouse-gas programs. On the bottle bill, supporters from municipal, environmental, public health, and local government groups argued that the 5-cent deposit is outdated, redemption rates have fallen, and expanding coverage to more beverage containers—especially water, sports drinks, and small alcohol bottles—would reduce litter, cut plastic waste and microplastics, and save cities and towns money. Several speakers also backed raising handling fees for retailers and redemption centers, and some supported restoring a Clean Environment Fund so unclaimed deposits would support recycling-related purposes. Opponents, including the Massachusetts Beverage Association and the National Waste and Recycling Association, argued that curbside recycling and transfer-station systems are more convenient, that the targeted containers are valuable to local recycling programs, and that the proposal would shift costs onto consumers and municipalities. Committee members questioned witnesses about redemption rates, handling fees, the 2014 ballot question, and whether the bill had changed from prior sessions. The biomass portion drew strong support from Springfield officials, state legislators, environmental advocates, and public health groups. They said woody biomass should not count as clean energy because burning wood produces particulate pollution and carbon emissions, and they warned that current law contains a loophole that could help finance the proposed Palmer Renewable Energy biomass plant in Springfield. Witnesses emphasized Springfield’s air-quality and asthma burdens, the public health impacts of PM2.5, and the need to close the loophole before a January 1, 2026 deadline. One forest-industry witness supported a separate bill promoting modern wood heat with pollution controls, arguing it is cleaner than older wood systems and has minimal ratepayer cost, while noting that those credits would be affected if the governor’s broader energy affordability bill repeals the alternative energy portfolio standard. No votes were taken during the hearing. The chairs managed testimony by alternating between the bottle bill and biomass topics, asking speakers to keep remarks brief and to note when they agreed with prior testimony. Several legislators also testified in support of the bills, and committee members asked follow-up questions on deposit levels, retailer handling fees, recycling economics, and the public-health rationale for the biomass restrictions.

Transcript Highlights:

• I'll go to her alternate. Senator Scott. Senator Scott. Okay. Senator Mark Johnson.
• His alternate, Senator Boyd. Senator Boyd. Senator Penzo? Senator Pinsow. Senator Bryant?
• Not seeing Senator Kroll, I'll call his alternate. Senator Stone. Senator Hickey? Aye.
• Not seeing Representative Shepard, I'll go to his first alternate, Representative In-It.
• Representative Shepard, I'll go to his first alternate. Representative Inatt.

Summary: The committee first reviewed a list of bills already marked ready for due pass, including several House bills (HB 1010, 1018, 1020, 1023, 1041, 1055, 1077) and Senate bills (SB 4, 16, 24, 55, 59), along with a few items in the budget packet. The JBC Personnel Subcommittee report was then taken up, and Senator Rice offered a substitute motion to separate out the governor’s staff-related item for a separate vote and a roll-call division. After discussion about the request and the underlying personnel issue, the substitute motion failed on a roll-call division, and the committee then adopted the personnel subcommittee report as a whole. The committee next heard questions for Treasurer John Thurston on House Bill 1034 and the Treasurer’s office budget request. Members raised concerns about salary increases for executive staff, the size of raises under the approved pay plan, office hours, and whether the office was prioritizing raises appropriately. Thurston said the salaries were within the previously approved pay plan, that the request was for full funding of that plan with a negotiated 10% amount, and that office hours remained the same though vault tours had been adjusted for scheduling. Several members expressed dissatisfaction with the increases, while others noted the compromise reached with committee leadership. The committee then adopted the letter for HB 1034. The committee also considered special language items, including a proposal tied to extension office improvements through a DFA-administered program for the Division of Agriculture, which was described as unfunded. That item was adopted. The committee then moved through the remaining ready items, giving do-pass or adopt motions to SB 29, SB 51, HB 1034, HB 1010, HB 1018, HB 1020, HB 1023, HB 1041, HB 1055, HB 1077, SB 16, SB 23, SB 24, SB 55, and SB 59. SB 4 was set aside as not ready. The meeting adjourned with notice that the committee would reconvene in 15 minutes in another room to handle special language.

Transcript Highlights:

• This was the assisted living bill that dealt with the PathWays rollout, and we were trying to really,

Keywords: 964, all

Transcript Highlights:

• Oz, the CMS administrator, he he stated Medicaid is not and cannot be a backdoor pathway to subsidize

Bills: HB3057, HB3130, HB4113, HB3310, HB3314, HB3985, HB4486, HB3040, HB3407, HB4343, HB2981, HB3764, HB3765, HB3767, HB3982, HB3321, HB3322, HB3323, HB4126, HB4130, HB4170, HB3345, HB2941, HB3062, HB3244, HB3298, HB2977, HB3304, HB3299, HB3297, HB4260, HB3906, HB3648, HB3319, HB2933, HB3544, HB1322, HB4104, HB4105, HB4106, HB4107, HB4108, HB3974, HB3134, HB3055, HB3115, HB3471, HB3497, HB3500, HB3505, HB3755, HB4202, HB4226, HB4236, HB4139, HB4144, HB4422, HB4423, HB4317, HB4321, HB4322, HB3176, HB3239, HB3263, HB3673, HB3794, HB3796, HB4265, HB4266, HB2123, HB3048, HB2445

Keywords: government reporting, information technology, child welfare, environmental policy, state agency compliance, gender transition, minors, health services, punitive damages, parental rights, health care providers, voter registration, voter eligibility, felony disenfranchisement, restoration of voting rights, formerly incarcerated, reentry, parole, probation, supervision

Transcript Highlights:

• So it's important that they get into that positive pathway once released from prison.

Summary: The Senate Committee on Education Postsecondary met with a quorum present and considered several bills and one appointment. SB 720, by Senator Osgood, would allow formerly incarcerated Florida residents to retain their residency status for tuition purposes so they can qualify for in-state rates after release. Senator Osgood and supporter Eddie Fordham testified that the bill addresses documentation barriers faced by long-term incarcerated people and supports reentry and rehabilitation; several organizations waved in support. Senators Jones and Rodriguez spoke in favor, and the bill was reported favorably. The committee also heard SB 372, by Senator Trumbull, which would extend the state employee tuition waiver program to sheriff’s office employees on a space-available basis. The Florida Sheriffs Association supported the measure, and it was reported favorably. SB 176, by Senator Berman, would require public postsecondary institutions to provide clearer, publicly available procedures for reporting threats to physical safety and identifying responsible contacts and protective steps. Support came from several education and faculty groups, and the bill was reported favorably by unanimous roll call. Members then recommended confirmation of Douglas Broxton to the State University System Board of Governors. Finally, SB 816, by Senator Bradley, would establish the University of Florida Diabetes Institute in statute to advance diabetes research, education, prevention, and outreach. Senators emphasized the institute’s potential to improve outcomes and attract grant funding, and the bill was reported favorably. The committee then adjourned.

Transcript Highlights:

• So it's important that they get into that positive pathway once released from prison.

Bills: S0176, S0372, S0720, S0816

Keywords: campus safety, higher education, university safety, college safety, student safety, threat assessment, violence prevention, credible threat, campus security, law enforcement notification, emergency response, public universities, Florida College System, student conduct, workplace violence, security escorts, incident reporting, title IX-like safety procedures, institutional safety policy, school violence

Summary: The Committee on Education Postsecondary met with a quorum present and considered several bills and one confirmation. Senate Bill 720, relating to resident status for tuition purposes for previously incarcerated Floridians, was presented by Senator Osgood and supported by testimony from Eddie Fordham, who described his own reentry and college experience and the difficulty of proving residency after long incarceration. Senators Jones and Rodriguez spoke in favor, emphasizing rehabilitation and access to education. The bill was reported favorably by roll call vote. The committee then approved Senate Bill 372, which would extend the state employee tuition waiver program to sheriff’s office employees on a space-available basis, with support noted from the Florida Sheriffs Association. Senate Bill 176, dealing with campus emergency management, conduct, and workplace violence policies, was also reported favorably after discussion focused on clearer reporting protocols, protective measures, and timely updates for students, faculty, and staff; several groups waved in support. Members also voted to recommend confirmation of Douglas Broxton to the Board of Governors of the State University System. Finally, Senate Bill 816, establishing the University of Florida Diabetes Institute in statute to advance research, prevention, care, education, collaboration, and outreach on diabetes, received supportive testimony from medical and university representatives and favorable comments from senators, including remarks about research, federal funding, and improved outcomes. The bill was reported favorably, and the committee adjourned without objection.

Transcript Highlights:

• It increases the communication between a brain area in the reward pathway and one involved in memory

Transcript Highlights:

• And it could create a hazardous waste crisis if clear pathways for management are not already. in place

Keywords: 988, house, all

Transcript Highlights:

• Representative Garrett is going to start that for us in a second and talk about the three pathways to

Keywords: 924, joint, all

Transcript Highlights:

• And now on line 212, there's an increase to the Pathways to Prosperity program of $2,888,000 each biennium
• on line 212 there's an increase<00:14:05.360> to<00:14:05.600> the<00:14:05.760> pathways
• <00:14:06.240> to<00:14:06.399> prosperity increase to the pathways to prosperity increase
• to the pathways to prosperity program<00:14:07.839> of program of program of 2,888,000<00:14:
• one thing we tried to do was to put some additional funds into several competitive grant programs: Pathways

Bills: HF3228, HF2441

Keywords: workers' compensation, insurance programs, employee protection, Minnesota statutes, safety regulations, prevailing wage, certified payroll, payroll reporting, construction contracts, public works, project registration, labor standards, contractor compliance, subcontractor reporting, state government, Department of Administration, Commissioner of Labor and Industry, Metropolitan Council, highway construction, public construction

Transcript Highlights:

• THIS PROVIDES HOMEOWNERS MORE TIME FOR MORE ALTERNATIVES TO PREPARE FOR THE UPCOMING SALE.
• ALTERNATIVE JUDICIAL SALES RECORDS CAN IMPROVE ALTERNATIVE SALE METHODS IF THEY ARE AND RESULT IN HIGHER
• WHEN DID THE COURT START ALLOWING ALTERNATIVE SALES NOT THROUGH THE CLERK OF COURTS?
• THEY CALL IT, THE ALTERNATIVE SALES PROCEDURE.
• ON THE FORECLOSURE ISSUE I AGREE HOUSES SHOULD NEVER HAVE BEEN SOLD THROUGH THIS ALTERNATIVE SALE. >>

Keywords: 999, senate, all

Transcript Highlights:

• that only allows local governments in counties with more than 80,000 residents to use cost-saving alternatives
• no choice but to spend taxpayer dollars on newspaper ads, while larger counties can use these alternatives
• In addition, if you look at the bill language that exists, it also gives you an alternative if you don't
• you<00:18:41.559> an that exists it also gives you an that exists it also gives you an alternative
• if you don't have access and alternative if you don't have access and you<00:18:44.360> see<00

Keywords: 958, all

Summary: The committee met with a quorum and took up four bills. House Bill 131, sponsored by Representative Meredith, would give former second-class city fire departments more flexibility in firefighter scheduling. Meredith explained the committee substitute would allow a hybrid “1323” schedule while preserving existing collective bargaining agreements and affecting only 13 cities. There was no opposition or public testimony, and the committee adopted the substitute and passed the bill with a favorable expression. House Bill 256, sponsored by the chair, was presented by Representative Flry and Kentucky Land Title Association President Eric Case. The bill sets a 40-year statutory limit on certain dormant title interests to clear old encumbrances and make titles more marketable, while not specifically excluding coal and mineral interests. The committee adopted the substitute and then passed the bill with a favorable expression. House Bill 290, sponsored by Representative Wilson, would update county law library funding rules to allow local bar associations to use library funds for online legal services, addressing unused balances in some counties. The chair and others said the change would better use the resource for attorneys and the public. The committee approved the bill with a favorable expression. House Bill 368, sponsored by Representative Decker, would let smaller counties and local governments use the same alternative public notice methods already available in larger counties, such as posting notices on government websites after a brief newspaper notice. Supporters from county and city groups said the change would save money, improve efficiency, and help with transparency, while Kentucky Press Association Executive Director David Thompson said newspaper publication costs are relatively small and urged the legislature to set standards for government websites before expanding online notice options. The transcript cuts off during Thompson’s testimony, and no final committee action on HB 368 is shown.

Transcript Highlights:

• unchanged across all the alternative unchanged across all the alternative forecasts<00:36:10.800
• In the the alternative scenarios.
• I don't have alternatives.
• limited the number of um of alternative limited the number of um of alternative forecast<01:41:21.679
• there's no meaningful alternative there's no meaningful alternative scenario<01:46:31.920> for

Keywords: 958, all

Summary: The meeting focused on reaching consensus on official Kentucky revenue estimates for fiscal years 2026 through 2028, using updated S&P Global economic forecasts compared with the September presentation. Staff explained that the updated forecast relied partly on alternative data because of the federal government shutdown, and they walked through changes in national and Kentucky economic assumptions across control, optimistic, and pessimistic scenarios. The control forecast was described as slightly more optimistic in the near term but more cautious in fiscal 2027 and 2028, with GDP growth revised up for the current year and down somewhat in the outer years. The pessimistic scenario now assumed a two-quarter recession beginning in the current quarter, while the optimistic scenario was given a higher probability weight than before. The presenters highlighted several Kentucky-relevant variables that changed since September, including weaker manufacturing employment, weaker housing starts, weaker consumer sentiment, and lower expected non-farm employment in fiscal 2026. At the same time, wage and salary disbursements were revised upward in fiscal 2027, reflecting higher disposable income from tax changes, and real consumer spending was expected to be stronger in the near term. They also discussed assumptions about tariffs, business profits, the Federal Reserve, unemployment, oil prices, retail sales, vehicle sales, exports, and consumer sentiment, noting that some indicators were little changed while others shifted materially. Consumer sentiment was attributed to affordability concerns, tariff impacts, and a general sense of malaise, but was expected to improve in later years from a low base. Members asked follow-up questions about why the forecast worsened in later years and about the consumer sentiment assumptions. Staff responded that the forecast assumed larger take-home pay and refunds from tax withholding changes, along with some easing of tariff effects, which they believed would help offset a negative wealth effect from stock market declines. They also noted that S&P Global’s December forecast, which had already been published, was essentially consistent with the presentation and that the firm believed its earlier assumptions had tracked recent data well. No vote or final action was recorded in the portion provided, but the discussion was aimed at settling the revenue estimates that will underpin the upcoming branch budget bills.