Video & Transcript Research : 'surplus distribution'

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AL

Alabama 2025 Regular Session

Alabama House Apr 24th, 2025

Alabama House Floor Meeting

Transcript Highlights:
  • of those funds. geographic distribution of those funds. geographic distribution of those funds.
  • are distributed around the state.
  • So again this the substitute will distribute $87 million to K will distribute $87 million to K will distribute
  • Then those funds will be distributed to all school funds will be distributed to all school funds will
  • And it's it's got distribute that money. And it's it's got distribute that money.
FL

Florida 2025 Regular Session

House in Session Apr 24th, 2025

Florida House Floor Meeting

Transcript Highlights:
  • BECAUSE OF THE STATE'S INTEREST IN PERMITTING DISTRIBUTION OF OBJECTIONABLE MATERIAL TO CHILDREN, IT
  • ITS POWER TO PROTECT THE HEALTH, SAFETY, WELFARE AND MORALS OF ITS COMMUNITY BY BORROWING THE DISTRIBUTION
Summary: The Florida House of Representatives conducted legislative business including prayer, pledge, and voting on multiple bills. Key legislation included HB 1105 expanding Florida Bright Futures Scholarship eligibility, HB 443 on charter school regulations (passed 83-23), and HB 1539 on materials harmful to minors (passed 81-29) after extensive debate about book challenges in schools. Other bills addressed education funding, law enforcement benefits, parole guidelines, and various local issues. The Speaker announced budget negotiations with the Senate have stalled, with disagreements over spending levels and tax cuts. The House will not meet this weekend as originally planned. Session adjourned until tomorrow at 10 AM.
TX

Texas 89th Regular

89th Legislative Session Apr 24th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • clerk read the bill HB number 2002 by Darby relating to the eligibility of an organization to receive surplus
  • electric customer of the procedure for requesting Vegetation management near a transmission or distribution
  • provide information on how customers can request vegetation management and air transmission or distribution
  • clerk read the bill HB number 1851 by Morales of Maverick relating to the disposition of certain surplus
  • Public schools in economically disadvantaged areas to purchase these surplus vehicles.
AR

Arkansas 2026 1st Special Session

ARKANSAS LEGISLATIVE COUNCIL (ALC) Feb 20th, 2026

ARKANSAS LEGISLATIVE COUNCIL (ALC)

Transcript Highlights:
  • down on the bottom there on the page, we're going to see our net general revenue available for distribution
  • number two, we'll see our cumulative deviation from the FNA net general revenue available for distribution
  • On the original forecast, they had $185 million surplus before we had the 160.
  • So this new forecast, DFNA, had a surplus of around $334 million, which I say will be reflected next
Summary: The meeting opened with prayer, approval of the prior minutes, and a monthly revenue report from the Bureau of Legislative Research. The report showed gross general revenue collections up year to date and net general revenue above forecast, with the increase attributed in part to income tax growth, a fiscal-year shift, and lottery-related collections. Members asked no questions, and no action was required on the revenue report. Several subcommittee reports were then presented and adopted, including executive, administrative rules, game and fish/state police, hospital/Medicaid/developmental disability, occupational licensing, PEER, revenue, state insurance programs, and personnel. The executive report noted a waiver request for Jackson County School District construction services and an audit with no findings. The administrative rules report covered agency directives, rulemaking updates, and a few rules pulled for later consideration. The revenue subcommittee held one District 4 tire removal contract until its next meeting, while the state insurance subcommittee reviewed the EBD contract with Boston Consulting Group and approved pharmacy formulary and drug recommendations. A substantial portion of the meeting focused on the State Insurance Department’s examination of pharmacy benefit managers, especially Navitus Health Solutions. Commissioners and staff explained that Navitus objected to producing certain claims data for self-funded plans, raising an ERISA preemption argument, and that the matter was being set for an administrative hearing, likely in April. Members questioned compliance, due process, and the implications of the objection, while the department said the state initiated the examination and was continuing to seek resolution. The committee also reviewed an Arkansas Teacher Retirement System agreement, with one member noting a potential conflict and abstaining. The meeting ended after members reviewed additional reports with no further action and adjourned.
AR

Arkansas 2026 Regular Session

ARKANSAS LEGISLATIVE COUNCIL (ALC) Feb 20th, 2026

ARKANSAS LEGISLATIVE COUNCIL (ALC)

Transcript Highlights:
  • down on the bottom there on the page, we're going to see our net general revenue available for distribution
  • number two, we'll see our cumulative deviation from the FNA net general revenue available for distribution
  • On the original forecast, they had $185 million surplus before we had the 160.
  • So this new forecast, DFNA, had a surplus of around $334 million, which I say will be reflected next
Summary: The committee met and opened with a prayer, then approved the prior meeting minutes and received the monthly revenue report from the Bureau of Legislative Research. The report showed gross general revenue collections up year to date and net general revenue above forecast, with the staff noting changes driven by casino gaming transfers, income tax growth, and a lottery-related collection. No action was required on the revenue report. Several subcommittee reports were then presented and adopted, including the executive committee, administrative rules, game and fish/state police, hospital/Medicaid/developmental disability, occupational licensing, PEER, revenue, state insurance programs, and personnel. Topics included a Jackson County School District cooperative purchasing waiver, rulemaking updates from several agencies, federal immigration and wildlife issues, SNAP and Medicaid waiver reimbursement rates, occupational authorization reviews, temporary appropriations and transfer requests, a tire removal contract held for later review, EBD pharmacy and medical drug recommendations, and personnel items. The PEER report also included questions to the State Broadband Director about a provider with delinquent property taxes; he said the provider would not be brought forward until the issue is resolved and that broadband grant payments are tied to performance milestones. The most extended discussion came during review of a State Insurance Department report on pharmacy benefit manager oversight. Commissioners and members questioned Navitus Health Solutions’ refusal to provide certain claims data for self-funded plans in an affiliate pricing examination. The department said the matter is being briefed and set for an administrative hearing, likely in April, and that the dispute centers on ERISA preemption and state authority to request the data. Members also asked about the status of the other PBMs under review and whether they had raised similar objections. After all reports were adopted or filed as reviewed, the meeting adjourned with no further business.
NM

New Mexico 2025 Regular Session

IC - Investments and Pensions Oversight Sep 12th, 2025

Investments & Pensions Oversight Committee

Transcript Highlights:
  • If revenues come in a little stronger than we anticipate, the reserves are there to catch that surplus
  • For just three years, half of that distribution from severance taxes will go to Behavioral Health and
  • To last and make sure that those distribution mechanisms and the investment earnings are aligned with
  • That will be starting this year, or has some of that distribution already happened?
  • It has oil and gas and energy dollars going in, and then it has very specific distributions.
MN

Minnesota 2025 1st Special Session

Committee on Higher Education - 04/08/25

Higher Education

Transcript Highlights:
  • to um the University of distributed to um the University of Minnesota<00:08:29.120> and<00:08
  • method so that the office distribution method so that the office of<00:28:10.080> higher<00:28
  • be distributed.
  • uh funds for that governs how a surplus uh funds for the<00:38:45.760> state<00:38:46.040>
  • of funds for the state grant program can be distributed.
Keywords: 1187, senate, all
OK

Oklahoma 2026 Regular Session

Senate Legislative Session Apr 16th, 2026 at 09:30 am

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • And that a copy of this resolution be distributed to the family of Oscar J.
  • And that a copy of this concurrent resolution be distributed to OKC Spark and the AUSL.
  • Those payments are distributed equally among all student populations, regardless of enrollment.
  • Distributions of the earnings it will make are going to be prohibited until a billion dollars is hit
  • Surplus money is not the government's to keep; it's our districts, and it's those that earned it and
NH
Transcript Highlights:
  • So there is time in that time surplus.
  • We have advocated reserves and surplus.
  • We have done a return of surplus.
  • Uh because we had unrestricted surplus.
  • <05:54:44.480> specifically from earnings and surplus specifically from earnings and surplus
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.
TX

Texas 89th 2nd C.S.

89th Legislative Session Mar 14th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • relating to appealing the affirmative defense of prosecution, the criminal offense of the sale, distribution
  • One by Morales and Maverick relating to the disposition of certain surplus motor vehicles and other law
  • HB 2002 by DARB relating to the eligibility of an organization to receive surplus agricultural products
  • HB 2169 by Slawson relating to certain contracts for the lease, lien, license, sale, use, or distribution
  • HB 2275 by Morgan relating to the arbitration provisions and supers in surplus lines insurance contracts
NE
Transcript Highlights:
  • Written material may be distributed to the committee members as exhibits only while testimony is being
  • Please have at least 12 copies and hand them to the page or clerk for distribution when you come up to
  • Please have at least 12 copies and hand them to the page or clerk for distribution when you come up to
  • Maybe it becomes a property, a surplus property that can be sold, whatever. It's irrelevant.
  • that that after COVID not all the regional centers drew down their annual budgets and there was a surplus
Summary: The Health and Human Services Committee held an invited-testimony hearing on LR 425, which examines the Whitehall campus in Lincoln and possible long-term options for youth currently served there. Chair Brian Hardin explained that Whitehall houses two separate programs for adolescent males: a substance use program and a youth-who-sexually-harm program. Testimony from DHHS officials described Whitehall as a Joint Commission-accredited psychiatric residential treatment facility (PRTF) that provides about 40 hours of weekly programming, family involvement, school services, and community reintegration activities. Officials said the department is evaluating whether the programs should remain at Whitehall or move to another state-owned facility, with Hastings described as the department’s preferred alternative because it is more residential in design than a youth rehabilitation treatment center (YRTC).
AR

Arkansas 2026 Regular Session

ARKANSAS LEGISLATIVE COUNCIL (ALC) Jun 19th, 2026

ARKANSAS LEGISLATIVE COUNCIL (ALC)

Transcript Highlights:
  • As we go down, we're going to see the net available for distribution at $6.36 billion.
  • The net available for distribution is $6.36 billion.
  • they take into account this growth that we have seen here from February to May, and they have the surplus
  • The surplus for this fiscal year is $585.8 billion.
Summary: The meeting began with a quorum call, prayer, and approval of the previous minutes. Members then adopted a resolution honoring Lori McDonald of the Department of Human Services for nearly 28 years of state service, with remarks praising her legislative work, constituent services, leadership, and emergency response roles. McDonald thanked the committee, and the Senate also presented her with a citation, flag, and commemorative coin. The committee received the May 2026 revenue report, which showed gross adjusted collections of $7.76 billion year-to-date, up 4.4% from the prior year, and a projected surplus of $585.8 million. The executive subcommittee report was adopted, covering emergency rules for DHS and the Department of Education, school district waiver requests, committee fund allocations, cancellation of the July ALC meeting, and authorization for subcommittees to meet in July on urgent matters. The administrative rules report was also adopted after members noted that most rules were approved, with a few pulled by agencies or held. Members then heard a lengthy exchange on the Arkansas Education Department’s ClassWallet contract and delays in expense review for education savings account payments. Department officials said they were meeting regularly with ClassWallet, enforcing contract standards, keeping some reviews in-house, and adding staff and technology improvements to speed processing while maintaining oversight. The committee also adopted reports from Game and Fish and State Police, Hospital/Medicaid/Developmental Disabilities, Lottery Oversight, Occupational Licensing Review, Peer Review, Review, State Insurance Programs Oversight, and Personnel, including a Department of Commerce reallocation tied to a broader shared-services realignment. Under review of communications, members filed several retirement system investment items as reviewed, approved rural community grant funding, gave favorable advice for state park additions, approved special maintenance funding for state parks, and filed Office of State Technology service-rate changes as reviewed. The meeting concluded with no new business and adjournment.
MN
Transcript Highlights:
  • It also requires the Department of Revenue to recertify aid distributions to reflect those changes.
  • So, it is absolutely true distributions.
  • You take an $18 billion surplus. You take $10 in tax increases, and that's not enough.
  • You take an $18 billion<00:46:06.360> surplus.
  • You take $10 in tax billion surplus.
Keywords: 919, house, all
Summary: House File 4845 was presented as a tax modernization and local aid bill that would adjust Minnesota income tax brackets for inflation, add a new top bracket of 10.85% for high earners, and increase local government aid and county program aid beginning in 2026. Representative Hollins said the bill would strengthen local government funding and require the Department of Revenue to recertify aid distributions. The chair noted the bill would be laid over for possible inclusion in the 2026 tax bill. Supporters, including St. Paul Mayor Melvin Carter? no, Mayor Kelly Her of St. Paul, AFSCME Local 34, and Rebuild Minnesota, argued that cities and counties need more stable revenue to cover rising costs, public safety, human services, and property tax pressure. They said the bill would help local governments meet unmet needs and reduce reliance on property taxes. Opponents from the Minnesota Business Partnership and Minnesota Chamber of Commerce argued the new top rate would hurt competitiveness, talent recruitment, and business investment, especially because many businesses pay through the individual income tax code. Some testifiers also opposed directing more aid to cities that they said restrict housing development, while others urged the committee to address unfunded mandates and fraud instead of raising taxes. During member discussion, Representative Joyce opposed creating another bracket and suggested using cannabis tax revenue instead. Representative Wiener said the state has a spending problem and cited fraud concerns, while Representative Roach questioned whether the bill truly helped greater Minnesota and noted the current LGA appropriation is just over $644 million. Representative Hollins responded that the proposal would mostly benefit greater Minnesota by shifting more of the tax burden to high earners in the metro area. No vote was taken; the bill was laid over for possible inclusion in the 2026 tax bill.
NH

New Hampshire 2026 Regular Session

House Committee on Housing (02/03/2026)

Housing

Transcript Highlights:
  • Maybe I distributed it last time, I think. Yes, it was in our—I distributed it last time.
  • So, I did distribute it. I also emailed it to the whole committee.
  • So, I I did distribute<01:11:59.600> it.
  • relative to sale of surplus state land. relative to sale of surplus state land.
  • proceeds from the sale of surplus proceeds from the sale of surplus property<04:03:44.560> must
Keywords: 928, house, all
Summary: The subcommittee first took up House Bill 1598 and an amendment, 2026-0463H. Elliott Barry and Nick Norman testified that the amendment reflected a hard-fought compromise balancing concerns from all sides, and they urged no further changes. With no questions from members, the subcommittee voted unanimously to recommend the bill with the amendment to the full committee, 3-0, and closed the subcommittee. The housing committee then moved through several executive session bills. HB 1010 was amended with 2026-0274H, described as clarifying and implementing prior housing law (HB 631) governing residential units above office and retail space; the amendment was adopted unanimously and the bill was reported ought to pass as amended on a 17-0 vote and placed on consent. HB 65 was then voted ought to pass and also placed on consent, with members saying it was duplicative of the compromise reached on HB 1010. HB 1349 was reconsidered for a clarifying vote and again received unanimous support for its prior disposition, 17-0, and was placed on consent. The committee next took up HB 1523, which concerned homeowners associations. An amendment, 2026-0380H, removed Section 5’s Attorney General enforcement mechanism, added HOA conflict-of-interest approval language, and delayed the effective date to give stakeholders more time; it was adopted unanimously. The bill then passed 18-0 as amended and was put on consent. The committee also voted ITL on CACR 16, a constitutional amendment related to sleeping or homelessness issues, after debate over unintended consequences and whether it protected a basic right; the vote was 10-8, with a majority report assigned and a minority report to be written. Later, HB 108, dealing with inclusionary zoning, was voted ITL 10-8 after members argued the bill imposed unrealistic burdens and could halt development; a minority report was noted with amendment 0149H. HB 7, concerning ADUs and restrictive covenants, was also voted ITL 10-8 after discussion of unintended consequences and a proposed amendment to encourage second ADUs; it was sent to the regular calendar with a minority report and amendment 0289H. HB 1120, on water-related subdivision requirements, was ITL’d 17-1 and placed on consent, with one member noting a study amendment had been offered. HB 1143, addressing housing-provider obligations and municipal enforcement powers, was ITL’d 17-1 and placed on consent. Finally, HB 1145, a fee/tax proposal tied to housing development, was ITL’d 11-7; members debated whether it would discourage development, and a minority report was assigned.
MN

Minnesota 2025 1st Special Session

Committee on Education Finance - 04/01/25

Education Finance

Transcript Highlights:
  • <00:05:22.479> Those MDE for distribution to schools.
  • Those MDE for distribution to schools.
  • I think it's mentioning that the surplus after the February forecast in the first biennium is roughly
  • after the February forecast in surplus after the February forecast in the<00:18:31.440> first
  • ,<00:37:44.480> no<00:37:44.720> other the funds are distributed, no other the funds
Keywords: 1187, senate, all
AL
Transcript Highlights:
  • It directs surplus funds from the Alabama 21st Century Fund toward energy infrastructure and economic
  • Any amount above those payments must be transferred to SIDA. the use of these surplus funds.
  • The bill transfers accumulated surplus funds from the 21st Century Fund in the following amount: $50
  • It provides for their distribution in the state of Alabama's new licensure category for both existing
NH

New Hampshire 2025 Regular Session

House Finance Division II (03/14/2025)

Transcript Highlights:
  • That's what they would get paid, so that to me is somewhat of a surplus statement adjustment.
  • That's what they would get paid, so that to me is somewhat of a surplus statement adjustment.
  • statement for the house so the Surplus statement for the house finance<01:02:50.200> committee's<
  • <01:23:33.159> of Beyond just the uh distribution of Beyond just the uh distribution of stickers
  • <01:24:40.000> at<01:24:40.119> the A couple million-dollar surplus at the end.
Keywords: 1189, house, all
Summary: The Finance Division II work session focused on organizing the committee’s remaining budget work and reviewing a set of recommended changes to House Bills 1 and 2. Mr. Landrian explained the committee’s tracking sheets and draft amendment package, noted that the division was being asked to find roughly $200 million in reductions, and said the governor’s lottery proposal in House Bill 2 could help offset part of that target. Members also discussed how revenue estimates tied to fee changes would be handled, with the chair saying the committee could seek Ways and Means input but would ultimately decide the estimates itself. The committee then considered four mostly technical amendments to House Bill 2. It voted unanimously to delete Section 81, which duplicated CCSNH dual and concurrent enrollment language already moving in House Bill 192; to delete Sections 143 and 144, which duplicated police standards and training extra-duty language already in House Bill 778; to adopt a correction to Section 151 that removed an inadvertently repeated sentence; and to delete Section 178 because the same Lottery Commission language already appears in House Bill 1. The committee also agreed to approve Section 4 of House Bill 1, the Lottery Commission boilerplate language, while deferring action on Section 2 of House Bill 1 until the university and community college budget is settled. A substantial portion of the meeting was spent planning upcoming work sessions and discussing possible revenue measures. The committee planned to invite Fish and Game on Monday to review a large set of follow-up materials and to discuss a possible amendment requiring hunters and trappers to pay the license fee before taking free training classes, with a second chance to retake the class if needed. Members also discussed possible fee adjustments for Safety and Fish and Game, including using dedicated-fund fees to reduce reliance on general funds and help stabilize the Highway Fund and Fish and Game Fund. The chair emphasized that all actions were recommendations until the committee’s final deadline and encouraged members to review draft language carefully before voting.
TX

Texas 89th Regular

89th Legislative Session Apr 2nd, 2025

Texas House Floor Meeting

Transcript Highlights:
  • Direct the journal clerk to distribute to members on the list of each amendment.
  • And Article 9A, four, direct the journal clerk to distribute to the members the list of each amendment
  • how much in tax our state has overcollected from its citizens and businesses such that we have a surplus
  • I do know we have a surplus. I don't know the number.
  • Chairman Hunter state earlier that we have a balanced budget. this state, if we have a $24 billion surplus
WA

Washington 2025-2026 Regular Session

Select Committee on Pension Policy Sep 16th, 2025

Select Committee on Pension Policy

Transcript Highlights:
  • We wanted to show how this line movement occurs without that expected surplus...
  • We wanted to show how this line movement occurs without that expected surplus from that system.
  • And that gives us an expected surplus of about $2.5 billion. It's a great position.
  • When we talk about overfunding, when we talk about an expected surplus versus a real surplus, hopefully
  • When we talk about overfunding, when we talk about an expected surplus versus a real surplus, hopefully
Summary: The committee approved the July minutes and then received an informational presentation from the Office of the State Actuary on the financial condition of the state retirement systems. The actuary reported that employer contribution rates are generally declining, helped by strong investment returns and reduced funding for PERS 1 and TERS 1, while funded ratios have continued to improve; on a combined basis the plans were reported at 100% funded in 2024, with open plans above 95% and legacy plans varying by system. The presentation also reviewed projected rates and funded ratios under current assumptions, noted that pension costs are taking a smaller share of the state general fund, and discussed risks from investment volatility, policy changes, and demographic experience. Committee members asked about savings from lower rates, deferred asset smoothing, and how Washington compares with other states. The committee then considered the state actuary’s recommendation on long-term economic assumptions and adopted all four recommendations by roll call votes: inflation at 3.0%, general salary growth at 3.5%, membership growth for Plan 1 funding at 1.0%, and investment rate of return at 7.25%. The actuaries explained that the inflation and salary growth increases were driven largely by higher long-term inflation expectations, while the investment return recommendation matched the current statutory assumption. Members discussed the timing of the Pension Funding Council’s decision, the effect of tariffs and inflation uncertainty, and how assumption changes would affect future contribution rates and budgets, particularly for open plans. Staff then gave an update on the LEOFF 1 study, explaining the difference between being “ahead of schedule” and truly overfunded, and summarizing responses received from DRS, the State Treasurer, and the State Investment Board on the merger and restatement proposals. DRS said both bills could be administered, though the merger bill’s COLA banking provision would be challenging until its new system is ready; the Treasurer urged caution, especially about the restatement bill and the use of one-time funds; and the Investment Board said removing assets from the trust would have some transaction costs but likely small impacts. The committee discussed whether to invite additional agencies and local government groups to testify, and staff said more responses, including from Ice Miller and the State Actuary, were expected for the October meeting. Finally, the committee heard a briefing on PERS 1/TERS 1 COLA policy and related bills from the last session. Staff reviewed the committee’s prior ongoing COLA recommendation, the SCPP-endorsed bills that would have created a one-time 3% COLA followed by an ongoing COLA, the Senate merger bill, and a separate ad hoc COLA bill. Public testimony largely supported Plan 1 COLAs and stable contribution rates, while several speakers urged caution about transferring LEOFF 1 surplus assets or merging legacy plans, and others raised concerns about climate risk and the pension fund’s investments. No further committee action was taken on the COLA item during this portion of the meeting.
CA
Transcript Highlights:
  • California's agricultural sector is so productive that there is a surplus of products.
  • SB 881 ensures that surplus agricultural products aren't wasted and instead help feed Californians in
  • There's still cost borne by farmers when they're dealing with unmarketable or surplus foods, and this
  • We can distribute the food through a system that benefits both sides.
Summary: The Assembly Revenue and Taxation Committee met as a subcommittee, then later established a quorum and heard several tax-related bills. Chair Gibson reviewed committee procedures, including the suspense file for bills with revenue impacts over $150,000. SB 881 by Sen. McNerney would extend the farmer-to-food-bank tax credit through 2032 and the emergency food for families voluntary tax contribution through 2033; supporters from food banks, agricultural groups, local governments, and climate organizations said it would reduce food waste and help address food insecurity, with no opposition on the record. The bill was moved to suspense. SB 1406 by Sen. McNerney would target the so-called Montana tax loophole used to avoid California vehicle taxes and fees; supporters said it would recover up to $20 million annually and improve enforcement, while an opposition group warned the shell-company language could affect legitimate small businesses and passive owners. That bill was also sent to suspense. SB 1349 by Sen. Gonzalez would direct the Legislative Analyst’s Office to review major state tax expenditures and evaluate whether they are meeting their intended goals. Supporters, including the California Teachers Association, tax reform advocates, school employees, and local governments, argued that California’s roughly $94 billion in annual tax expenditures need more accountability, especially given the state’s budget pressures. The committee approved SB 1349 on a due-pass-as-amended motion to the Assembly Appropriations Committee. The committee also approved two consent items, SB 1436 and SB 1437, on a due-pass motion. Later, SB 1249 by Sen. Richardson proposed a $3,000 tax deduction for seniors ages 86 to 90 through 2032, with supporters from LeadingAge California saying it would help older adults cope with rising costs; the bill was referred to suspense. SB 1151 by Sen. Cervantes would codify infant formula as a food product for sales tax exemption purposes; the author and supporters said it would protect families from uncertainty and preserve tax relief for an essential product. Members discussed the high cost of formula, and the bill passed on a due-pass-as-amended motion to Appropriations. The committee then completed its business and adjourned.