Transcript Highlights:

• <01:51:26.520> such<01:51:26.840> as for digital assets such as for digital assets
• They have an IOU from the asset.
• holding the underlying bare asset. holding the underlying bare asset.
• physical asset. physical asset. Senator<02:05:23.480> Duckworth.
• separate from their insured assets. separate from their insured assets.

Keywords: 1187, senate, all

Transcript Highlights:

• value, and our plan net assets went up, you know, 100 million because of the asset gains and unrealized
• you like this year our plan net assets you like this year our plan net assets went<00:10:01.200>
• <00:15:42.000> grow, memberships grow and the assets grow, memberships grow and the assets
• know, that's why we smooth asset gains. know, that's why we smooth asset gains.
• Um so yes 100% asset classes.

Keywords: 958, all

Summary: The meeting opened with a quorum call, the Pledge of Allegiance, a prayer, and approval of the prior meeting minutes. The first presentation was from Bo Craycraft of the Judicial Form Retirement System, who gave an update on investment performance, asset allocation, cash flow, and projected employer costs. He reported strong fiscal year 2025 investment results, with both the legislative and judicial retirement plans outperforming their actuarial assumed rates of return and benchmarks, driven largely by U.S. equity performance. He also noted the plans remained near their target asset allocation and continued to experience negative cash flow, though he said that was manageable in context of strong asset growth. Craycraft then discussed a recent experience study and actuarial assumption changes, especially a revised salary growth assumption and a higher cash balance interest credit rate. He said these changes increased projected employer costs, with contributions rising from about $700,000 to a projected $2 million in later years, though he expected the eventual 2025 valuation and investment gains to reduce that estimate. Members asked about mortality assumptions, the impact of the experience study on liabilities, and the sharp increase in the judicial plan’s projected employer cost. Craycraft explained that the increase was driven mainly by the updated assumptions and that no other major plan changes were involved. At the chair’s request, Craycraft also addressed the recent rise in Medicare Advantage premiums for the plan’s health coverage, saying the 2025 increase was largely tied to Part D changes and the Inflation Reduction Act and had been about 45%, but that future growth was expected to be under 5%. After his presentation, the committee moved to the Kentucky Public Pensions Authority update, where the next speaker began by saying the funds had exceeded actuarial assumed returns for the fiscal year.

Transcript Highlights:

• <00:29:43.360> to<00:29:43.600> a is limited to a is limited to a $325<00:29:45.279
• on the EMT aspect uh criteria is limited on the EMT aspect uh is<00:31:42.320> limited<00:31:
• about asset preservation.
• about asset preservation.
• These large capital assets.

Keywords: 1183, house

Transcript Highlights:

• > of<00:03:34.600> single-family By limiting the amount of single-family By limiting the amount
• the players are in this asset class. the players are in this asset class.
• effective date that are over the limit. effective date that are over the limit.
• Obviously, the limit here is 50.
• . assets. assets.

Keywords: 1183, house

Summary: The committee took up House File 2687, as amended by a DE1 amendment. The amendment narrowed the bill to prohibit private equity companies from buying single-family homes and to limit corporations and partnerships to owning no more than 50 single-family homes, with enforcement through the Attorney General’s office. The committee adopted the DE1 amendment, and the author, Representative Bajaj, described the bill as a step toward expanding homeownership and reducing corporate concentration in the housing market. Representative Bajaj and supportive testimony argued that corporate ownership of single-family homes makes it harder for first-time buyers and working families to compete, especially in lower-income neighborhoods, and can lead to absentee ownership and poor maintenance. Ellen Sahli of the Family Housing Fund cited research on single-family rentals showing that larger portfolios are associated with worse renter experiences, higher rents, and more repair problems. Rachel Ruby Jones testified in support based on her experience renting from Havenbrook, describing flooding, delayed repairs, safety concerns, and poor treatment by management, and said private equity ownership can shift risks and costs onto vulnerable tenants. Opposition focused on market effects and the bill’s scope. Mark Brunner of the Minnesota Manufactured Home Association said the language was too broad and could unintentionally affect manufactured home communities on leased land. Paul Eger of Minnesota Realtors warned that market prohibitions could create unintended consequences, especially in a cyclical housing market, and suggested alternatives such as tax incentives for sales to owner-occupants and more first-time buyer assistance. In member discussion, Representative Nash questioned whether the problem was widespread and pressed for details on enforcement and divestiture; Representative Agbaje said the current language is forward-looking, would not force existing owners below the cap, and would rely on lawsuits and remedies the Attorney General deems appropriate, with more detail to be worked out later. The chair indicated the bill would be laid over for further consideration and likely move next to Judiciary, with some discussion of whether Commerce should also be a stop.

Transcript Highlights:

• So the beginning worth limitations.
• :34:54.800> over asset preservation list includes over asset preservation list includes over 150
• c><00:35:30.640> remain reason, asset preservation must remain reason, asset preservation must
• All capital assets are buildings.
• shows a history of the asset shows a history of the asset preservation<00:53:47.280> for<

Keywords: 1183, house

Transcript Highlights:

• There's only a limited amount of taxpayer dollars, and I'm making a strong policy decision here that
• But generally, this would be limited to one reasonable opportunity.”
• By limiting the number and duration of the reasonable opportunity periods, this bill actually exceeds
• And what it does is it imposes punitive limitations on people who are trying to follow the rules and
• And we're passing bills and trying to argue on how we can limit that.

Bills: HR267, HCR105, HCR107, HCR110, HCR113, HCR114, SB4, SB52, SB57, SB145, SB152, SB194, SB237, SB333, SB433, SB483, SCR37

Keywords: diabetes, amputation, amputations, diabetic foot ulcer, peripheral artery disease, PAD, wound care, podiatry, vascular disease, endocrinology, limb salvage, health policy, public health, healthcare costs, insurance coverage, Louisiana Department of Health, University of Louisiana at Lafayette, Louisiana Center for Health Innovation, patient education, screening

Transcript Highlights:

• not the underlying asset value. not the underlying asset value.
• liquid assets on the value of both hard and liquid assets.
• <01:09:08.839> of asset classes that the liquid assets of asset classes that the liquid assets
• One of those assets is land and minerals assets.
• 2.3 is in a financial asset. 2.3 is in a financial asset.

Keywords: 1187, senate, all

Transcript Highlights:

• They provide not only knowledge, great assets to California, but they also pay taxes.
• California's fairgrounds are valuable public assets.
• It's limited in scope to just five years.
• to 10 kilowatts and limit the exclusion to additions to existing property.
• The amendments limit the customer-site active solar system to 10 kilowatts and limit the exclusion to

Summary: The Assembly Committee on Revenue and Taxation heard several bills dealing with tax policy, local revenue authority, consumer protections, and incentives for development. AB 1726 would create catastrophe savings accounts for homeowners to save pre-tax dollars for disaster mitigation and recovery costs; it drew support from the Department of Insurance and the California Bankers Association, while the California Teachers Association opposed it because of the General Fund and Prop. 98 impact. The bill was referred to suspense. AB 1768 would authorize Los Angeles and Contra Costa counties to ask voters to approve local transaction and use taxes to offset projected federal funding cuts affecting health care and safety-net services; it received broad support from health providers and county representatives, opposition from one member and a resident, and passed the committee 5-2 to the Assembly Local Government Committee. The committee also considered AB 1790, which would repeal the Waters Edge corporate tax election and require worldwide combined reporting for multinational corporations. The author and supporters argued it would close a loophole, raise several billion dollars annually, and help fund schools, Medi-Cal, and other programs; opponents warned of double taxation, compliance burdens, retaliation from foreign governments, and job losses. After extensive testimony and member debate, the bill was referred to suspense. AB 2020 would provide a full property tax exemption for the primary residence of 100% disabled veterans and surviving spouses, and AB 2069 would create a targeted sales and use tax exemption to spur development projects at fairgrounds; both measures had support from sponsors and related organizations, no opposition, and were referred to suspense. Finally, AB 2705 would regulate third-party “asset finders” who help claim excess proceeds from tax sales by requiring written agreements, disclosure that claims can be filed free with the county, and a cap on fees at 10%. County officials and local government groups supported the bill as a consumer protection measure, while recovery companies and related firms opposed it, arguing the work is complex and the cap would reduce access to services. The committee moved AB 2705 to the Assembly floor on a 4-0 vote.

Transcript Highlights:

• HB number 1729 by Vasute relating to a limitation. read the bill.
• We are limiting them. We are not, we are silencing diverse voices.
• Our hands are pretty limited.
• But we do have a 10% limit on the Rainy Day Fund.
• There's no requirement for investing in specific assets. There's not a prescribed asset allocation.

Summary: The House convened with a quorum, offered an invocation, led the pledges, and approved a series of routine motions, including excusing absent members and granting permission for several committees to meet while the House was in session. Members also adopted several memorial and recognition resolutions, including H.R. 1023 honoring Christian Beerbill, H.R. 1033 recognizing International Bereaved Mother’s Day, and H.R. 877 recognizing Urban League Advocates Day. The House also recommitted SB 17 and HB 4211 to committee and postponed SCR 27 and HB 2145 for later consideration. The chamber then took up a long third-reading calendar of bills covering a wide range of topics, including Sunset review measures, health care workforce and pricing, child custody and family law, Medicaid, rural ambulance grants, energy reporting, public information requests, trail development, virtual meeting disruptions, occupational licensing, protective orders, county leave pools, animal cruelty, infrastructure, and higher education. Most bills were explained briefly by their authors and passed with broad support, though several drew notable opposition, including HB 5265, HB 2402, HB 3000, HB 3237, HB 3326, HB 1056, HB 281, HB 3308, HB 1043, HB 1234, HB 1193, HB 294, HB 809, HB 334, HB 2037, HB 285, HB 1353, HB 3960, HB 4044, HB 4264, HB 2807, HB 3349, HB 4406, HB 1593, HB 1899, HB 1201, and others. Several bills prompted extended debate or amendments. HB 3237, extending public energy-use reporting for state and higher-education buildings, passed after questions about its public-sector-only scope and energy savings. HB 3326, addressing public service loan forgiveness credit for adjunct professors, initially failed on a 69-70 vote but later passed after verification and machine corrections. HB 3211, concerning optometrists in managed care plans, adopted a Buckley amendment before passing. HB 2213 on Texas Windstorm Insurance Association board composition adopted a Metcalf amendment requiring certain board members to be Texas residents. HB 412, dealing with harmful materials and sexual performance of a child, generated extensive questioning about its scope, existing legal standards, and effects on educators and medical professionals; the excerpt ends during that debate.

Transcript Highlights:

• This is where the assets and needs come from.
• This is where the assets and needs come from.
• asset mapping of our communities, not just of our students, the assets of our students, not just the
• assets of our educators in our schools... ...not just of our students, the assets of our students, not
• That seat-hours limitation means it's really hard.

Summary: The joint informational and oversight hearing focused on community schools in California, with members emphasizing that the purpose was to examine effectiveness, implementation, and sustainability rather than the Governor’s budget proposal. The California Department of Education described the California Community Schools Partnership Program, created in 2021 and funded with more than $4 billion, including planning, implementation, extension, and county coordination grants. Officials said nearly 2,500 schools are participating and highlighted the statewide technical assistance structure, including the State Transformational Assistance Center, eight regional centers, county offices, and CDE support. Researchers from the Learning Policy Institute and UCLA presented early findings and implementation data. LPI reported reductions in chronic absenteeism and suspensions, along with gains in math and English language arts, with especially large benefits for Black students and other historically underserved groups. UCLA described the Annual Progress Report as a statewide improvement tool showing growth in capacity-building, shared decision-making, whole-child supports, and continuous improvement. Members asked about how the reports measure outcomes, how to interpret outliers, and how to distinguish community schools effects from other concurrent initiatives; presenters said matched comparison methods and deeper case-study work are being used, with additional statewide findings expected in June. Panelists from Oakland Unified, LAUSD/UTLA, San Diego Unified, and advocacy organizations described key elements of success: integrated student supports, strong family and student engagement, collaborative leadership, community partnerships, and school-site decision-making. They gave examples such as wellness centers, dual enrollment, student senates, parent leadership, and community campaigns that built trust and increased participation. Members also raised concerns about sustainability, implementation fidelity, and whether community schools improve participation in LCAP processes. Presenters said major barriers include unclear early guidance, the need for a mindset shift away from top-down models, and uncertainty about long-term funding for coordinators and other staff. The panel’s recommendations centered on stable ongoing funding, stronger technical assistance, shared governance, and embedding community schools practices into district and county systems.

Transcript Highlights:

• We have a massive gap in verification of assets.
• Anyone that has $50,000 in liquid assets.
• We are only two, one of two states without asset limits.
• But wait, Senator Shamp [member_1634], didn't you say the federal government has asset limits of no more
• So this exemption, So this exemption for the asset limit for ABD Medicaid eligibility is a huge policy

Keywords: 1182, all

Summary: The Senate Committee on Health and Human Services held a fourth hearing in its ongoing review of alleged fraud, waste, and abuse involving AHCCCS/Access and DHS, with a major focus on Medicaid eligibility verification for the aged, blind, and disabled (ABD) population, behavioral health and sober living oversight, and payment delays to providers. Senator Shamp presented findings she said showed major gaps in ABD asset verification, including claims that only a fraction of enrollees were checked and that many ineligible members may remain on the rolls. She urged referrals to law enforcement, tighter verification requirements, better PARIS data sharing, and legislative changes to close what she described as a compliance and taxpayer-risk gap. Reva Stewart also testified that patient brokering and fraudulent recruitment of vulnerable people, including Native Americans, continues through social media and other channels, and she called for stronger enforcement and transparency. Heather Dukes, representing behavioral health and sober living operators, argued that the state’s response to fraud has become overly punitive toward legitimate providers. She said ADHS often sends technical paperwork deficiencies straight to enforcement instead of allowing plans of correction, that zoning approvals are being questioned despite not being within ADHS authority, and that long Access approval timelines are creating licensing and billing delays. ADHS Deputy Assistant Director Tiffany Slater said the department has seen a large volume of unlicensed complaints, that it is trying to improve staffing and data systems, and that some enforcement tools have been expanded for sober living homes. She also said many sober living operators are in recovery themselves and provide low-cost housing and support rather than direct billing to Access. Access Director Virginia Roundtree said the agency is trying to balance fraud prevention with support for legitimate providers. She reported steps such as daily internal huddles, live dashboards, added project management support, an outside review of the Division of Fee-for-Service Management, and a new external claims vendor to help reduce backlogs. Senators pressed her on a specific provider’s long-delayed payments and prepayment review, and she said the agency would provide answers early the following week. Access staff also described provider resolution roundtables and said unadjudicated claims had been reduced to zero, though members questioned whether that was due to denials rather than resolution. The hearing ended with the chair announcing legislation to preserve the American Indian Health Plan as a fee-for-service option while requiring Access to contract administrative and care management functions to another entity, citing structural failures in Access’s ability to operate the plan safely and effectively.

Transcript Highlights:

• <01:15:37.239> there there's a lot of different assets there there's a lot of different assets
• happen in the future that digital assets happen in the future that digital assets cuz<03:47:50.319
• > a<03:47:56.199> good have digital assets now we have a good have digital assets now we
• changed their mood about digital assets changed their mood about digital assets that<03:48:39.920
• to<04:06:15.000> a has mutual funds but it's limited to a has mutual funds but it's limited

Keywords: 928, house, all

Summary: The subcommittee first dealt with a brew pub license bill and corrected some sponsor/subcommittee roster confusion before voting to pass it without discussion. The main item of debate was a bill allowing patrons to take purchased alcoholic beverages into restrooms. The bill sponsor argued the current ban is outdated, rarely enforced, and can leave patrons vulnerable if they set drinks down and leave them unattended; he said establishments could still post their own rules if they wished. Liquor enforcement officials said they were neutral overall, noting both the risk of drinks being left unattended and the practical concerns of underage drinking, over-service, and restroom monitoring. Testimony split between those who saw the law as a non-issue and those who viewed it as a safety measure. One member said he had never seen anyone take alcohol into a restroom and opposed changing the law, while others cited drink-spiking concerns and suggested alternatives such as safe zones behind bars, drink covers, and alert apps. Industry representatives said many operators would prefer to keep the law as-is because it helps with policing drinking in their establishments, though they acknowledged the motivation behind the bill. Several members also raised drafting concerns, saying the wording was confusing about whether the rule applied to patrons or establishments. The committee ultimately voted 5-2 to recommend the bill ought to pass. Afterward, members discussed amending the language to clarify that establishments could still prohibit the practice, but one member suggested a simpler fix would be to strike the word “restroom” from the prohibition entirely. The committee then unanimously voted to reconsider its action so the language could be revised later, and the amendment discussion was left for a future meeting.

Transcript Highlights:

• The assets.
• The firms in this state do not have the assets; the assets are held at a higher level, really.
• <01:41:06.960> are assets are assets are lost<01:41:09.239> um<01:41:10.239> the
• this I'm trying to find the limiting this I'm trying to find the limiting factor<04:23:12.040>
• see including but not limited see including but not limited to<04:23:26.159> uh<04:23:26.279

Keywords: 928, house, all

Summary: The committee first heard testimony on House Bill 167, a PFAS-related measure to add ski, snowboard, and boat wax to the state’s list of banned consumer products containing PFAS. The sponsor said the product is already banned in many other places, alternatives exist, and the concern is that these products go directly into water rather than landfills. She cited high PFAS levels in several New Hampshire lakes and argued the bill would help stop further contamination. A member of the public also described personal experience with ski wax products disappearing from the market, suggesting PFAS may have been the reason. The chair then closed the hearing on HB 167. The committee next opened a hearing on House Bill 312, dealing with college athletes’ name, image, and likeness (NIL) rights. Representative Moffett explained the bill was prompted by the U.S. Supreme Court’s NCAA v. Alston decision and was modeled on New Jersey law. He said the bill would prevent colleges from restricting NIL compensation, require athletes to use licensed attorneys or registered sports agents, and limit certain endorsements involving addictive drugs, adult entertainment, firearms, and weapons. He framed the measure as a proactive response to a changing college sports landscape and noted possible future conflicts involving schools, agents, and endorsements. Committee members raised several concerns and suggested changes. One member questioned the bill’s exclusion of two-year institutions, another objected to the weapons restriction, and others asked how the bill would affect scholarships. The sponsor said the intent was to protect scholarships, especially athletic scholarships, and clarified that need-based scholarships were not meant to be affected. He also acknowledged discomfort with the endorsement restrictions and said the committee might want to broaden or revise the language. The hearing remained open for further consideration, with no vote taken in the excerpt.

Transcript Highlights:

• Senate Bill 131 by Senator Pressly, professions and occupations, limiting recovery of attorney fees,
• assets by the holder, sale, and liquidation of assets.
• digital assets by the holder, sale, and liquidation of assets.
• digital assets by the holder, sale, and liquidation of assets.
• digital assets by the holder, sale, and liquidation of assets.

Bills: HR252, HR253, HR254, HR255, HR256, HCR103, HCR104, HR244, HR245, HR246, HR247, HR248, HR249, HR250, HR251, HCR101, HCR102, SCR40, SCR60, SB112, SB131, SB145, SB194, SB268, SB307, SB312, SB319, SB333, SB341, SB346, SB464, SB466, SB488, SB495, SB503, SB507, SB509, HR9, HR196, HCR27, HCR28, HCR50, HCR62, HCR67, HCR71, HCR78, HCR81, SCR20, HB123, HB251, HB625, HB662, HB709, HB769, HB775, HB783, HB895, HB1011, HB1057, HB1155, HB1186, HB1224, HB1245, HB1247, HB1253, HB1254, HB1255, HB1256, SB8, SB10, SB11, SB12, SB13, SB14, SB16, SB17, SB18, SB20, SB21, SB22, SB40, SB48, SB55, SB69, SB75, SB77, SB78, SB85, SB102, SB115, SB133, SB140, SB148, SB151, SB165, SB169, SB170, SB185, SB197, SB200, SB217, SB235, SB278, SB280, SB291, SB300, SB303, SB315, SB324, SB330, SB411, SB416, SB420, SB436, SB438, SB449, SB455, SB456, SB477, SB489, SB521, SB97, SB105, HR171, HCR49, HCR65, HCR72, HR37, HCR64, HR170, HR191, HR206, HR207, HR208, HR217, HCR11, HCR53, HCR60, HCR66, HCR68, SCR19, SCR3, SCR6, SCR18, SCR11, SCR22, SCR2, HCR6, HB64, HB68, HB92, HB130, HB258, HB633, HB801, HB61, HB98, HB102, HB139, HB142, HB170, HB185, HB194, HB199, HB231, HB247, HB294, HB336, HB474, HB661, HB842, HB852, HB66, HB153, HB165, HB326, HB387, HB455, HB513, HB603, HB660, HB719, HB762, HB766, HB802, HB816, HB833, HB940, HB950, HB975, HB1028, HB1039, HB1051, HB1053, HB1080, HB1201, HB1215, HB1228, HB1251, HB1252, SB1, SB23, SB32, SB42, SB43, SB46, SB51, SB110, SB113, SB150, SB154, SB161, SB218, SB220, SB221, SB253, SB289, SB310, SB351, SB399, SB404, SB502, SB26, SB28, SB29, SB30, SB41, SB44, SB64, SB84, SB87, SB93, SB98, SB107, SB118, SB142, SB192, SB195, SB199, SB219, SB222, SB234, SB241, SB255, SB275, SB277, SB292, SB294, SB306, SB314, SB482, HCR32, HB798, HB998, HB1084, HB1223, HB59, HB955, HB1191, HB1234, HB646, HB824, HB341, SB397, SB442, HB901, HB79, HR20, HR74, HB284, HB306, HB366, HB393, HB458, HB577, HB582, HB605, HB614, HB682, HB733, HB752, HB773, HB911, HB926, HB996, HB1035, HB1069, HB1113, HB1140, HB1180, HB1240, SB47, SB82, SB89, SB149, SB382

Keywords: consumer protection, credit card fees, cash transactions, rounding practices, transparency, low-income, economic impact, residential construction, building codes, inspection practices, housing costs, task force, HR254, House Resolution 254, Ty Hebert, Acadiana Legislative Delegation, Louisiana State University, LSU, graduation, commendation

Transcript Highlights:

• assets, even allowing a freeze of the exploiter's assets.
• The bank is holding the assets as long as they can because they know it's fraud, but they're limited
• The assets as long as they can because they know it's fraud, but they're limited as far as how long they
• can hold these assets.
• When the order goes over to the bank to tell them continue to freeze these assets, the assets have already

Summary: The Committee on Children, Families, and Elder Affairs met with a quorum and first took up SB 398, which would create a statewide public health awareness campaign through the Department of Elder Affairs on Alzheimer’s disease and related dementias. Senator Burgess said the campaign would focus on early detection, brain health, risk reduction, clinical trial access, and community resources. The committee heard supportive testimony from a caregiver, AARP, the Alzheimer’s Association, and others, with members discussing the need for culturally responsive outreach and continued funding. SB 398 was reported favorably by roll call vote. The committee then heard SB 106, which would strengthen Florida’s exploitation injunction law for vulnerable adults by allowing service of an unascertainable exploiter through the same communication method used to contact the victim, such as text, Facebook Messenger, or WhatsApp. Senator Martin explained the bill as a way to close a loophole that lets scammers evade traditional service, and witnesses from the Florida Bankers Association and the Florida Bar’s Elder Law Section supported it, describing how the bill could stop ongoing thefts more quickly while preserving due process. Members asked about gift card scams, clerk workload, and the definition of an unascertainable respondent. SB 106 was reported favorably. The Department of Children and Families then presented an update on the Adoption Benefits for Qualifying Adoptive Employees Program, describing its expansion over time and the current one-time lump-sum benefit structure for eligible adoptive parents. The presentation covered eligibility rules, open enrollment, funding history, and the program’s impact on adoption placements, with members asking why tax collectors were included but other constitutional offices were not, and whether foster relatives could qualify. Finally, the committee considered SPB 7012, a committee bill addressing child welfare workforce shortages, treatment foster care for high-acuity children, and improved data collection on commercially sexually exploited children. The bill would direct DCF to recruit former public safety workers for CPI and case manager roles, create a treatment foster care pilot in two judicial circuits, and require more detailed, analyzable data and capacity studies. The bill drew support from child welfare advocates, with some members urging DCF to return with a more developed framework; it was adopted as a committee bill and reported favorably.

Transcript Highlights:

• And then it says accounting for assets in a new area that has not been developed.
• What is the process for figuring out the accounting for the assets?
• their own assets, require more coordination in new areas.
• And then it says accounting for assets in a new area that has not been developed.
• Which means prevention of limitations on their use without reason.

Bills: HF4807

Keywords: overweight vehicles, aggregate mining, local ordinance restrictions, legislative audit, transportation, resource inventory

Transcript Highlights:

• about asset condition projects. about asset condition projects.
• in capacity in asset condition projects? in capacity in asset condition projects?
• asset replacement project.
• asset replacement project.
• of land but may have limited Yeah. of land but may have limited Yeah.

Keywords: 1191, senate, all

Transcript Highlights:

• Market value of assets—that's what the assets are actually worth in the market on the valuation date.
• There is no asset smoothing in this plan, so there's no smoothed assets.
• Market value of assets, that's what the assets are actually worth in the market on the valuation date
• There is no asset smoothing in this plan, so there's no smoothed assets.
• So the actuarial value of assets would be limited to be within that 30% corridor, so that it remains

Summary: The Pension Funding Council met on June 23, 2026, for a work session that began with an overview of the Higher Education Supplemental Retirement Plan (SRP) and a 2025 accounting valuation of that plan. Staff explained that the SRP is a closed defined benefit supplement for higher education employees hired before the 2011 closure, with employer contributions currently pre-funding benefits in institution-specific trusts while institutions still pay benefits on a pay-as-you-go basis. The State Actuary’s office reported that the plan’s accounting position has improved, with combined market assets of about $245 million against $377 million in accrued liability, and that strong market performance since 2022 has increased the asset-to-liability ratio. The office emphasized that this was an educational accounting valuation, not a funding valuation for rate-setting. The council then received the 2025 actuarial valuation report for the state retirement systems. Actuaries reviewed the recent demographic experience study, noting updated assumptions for mortality, retirement, termination, and salary growth, and said the net impact on most plans was small. They reported that most plans’ funded ratios improved, with all plans at least 94% funded and several at or above 100%, and that contribution rates for the 2027–2029 biennium are generally lower than current rates. They also noted that future rates could be affected by market volatility as deferred gains are recognized over the next few years. During public comment, a representative of the Association of Washington Cities urged the council to consider rate reductions to help local governments facing budget pressures. In executive session, the council first approved a motion directing the Office of the State Actuary to perform an actuarial evaluation and analysis of each institution’s Higher Education Supplemental Retirement Plan, including institution-specific contribution rates, asset sufficiency, and funding policy options, due by July 1, 2028. The council then adopted the 2027–2029 pension contribution rates based on the 2025 actuarial valuation report. Both motions passed 5-0, with one member excused. The meeting concluded with no further business.

Transcript Highlights:

• Currently, there's both an income and an asset test. This removes solely the asset limit.
• Removed both the asset limit and raised the income threshold. last year, correct?
• Removed both the asset limit different.
• So, last time I introduced the bill, the asset limit for an individual was $9,400.
• the asset limit for an individual bill, the asset limit for an individual was<00:09:21.920> $9,400

Keywords: 1191, senate, all

Transcript Highlights:

• <00:09:02.880> it they have title to whatever assets it they have title to whatever assets
• those assets from my creditors.
• insulate those assets from my creditors. insulate those assets from my creditors.
• reach those assets. reach those assets.
• that I put in trust, then I reach assets that I put in trust, then I those<00:14:00.160> assets

Keywords: 958, all

Summary: The Senate Judiciary Committee met with a quorum and took up Senate Bill 50, sponsored by Chair Storm and President Stivers, a broad probate and trust measure. Stivers and attorney Barry explained that the bill updates Kentucky probate and intestacy procedures to better fit electronic filing and modern family structures, adjusts inheritance tax classifications to reflect longer lifespans and more complex family relationships, and adopts newer trust tools used in other states, including electronic wills and directed trusts. They also described a domestic asset protection trust provision, saying it is intended to level the playing field with other states and is not meant to help people evade existing creditors; they noted one non-uniform section may have fiscal impact and could warrant referral to Appropriations and Revenue. Members asked about the asset protection trust language, especially whether it could shield assets after a lawsuit is pending or threatened. Barry said the bill would not allow transfers to defeat existing or threatened claims and that the protection only applies where there are no such claims at the time of transfer. Senators also discussed whether the trust could be used for spendthrift-style family planning, with Barry noting trusts can already be drafted for that purpose and that the bill is not aimed at that issue. Senator Thomas requested more detail on the inheritance tax changes, and Stivers explained that the bill would move more beneficiaries into the no-tax category because estates now often pass to older children, grandchildren, and step-relatives, creating unexpected tax liability. He and others said the changes were meant to reflect modern family patterns and longer life expectancy, and Thomas said he was not opposed to the tax changes but wanted the public to understand them. Tim Shank of the Kentucky Bankers Association testified that the bankers were not opposing the bill overall but had concerns about the domestic asset protection trust section, particularly its treatment of existing mortgages and creditor claims. He said the bill’s notice and claim-extinguishment provisions could create unintended consequences for mortgage holders, and he urged changes to protect existing debt. In response, Senator Thomas questioned whether a lender that takes no action for the bill’s six-month-to-two-year claim period should lose its claim, but Shank replied that federal mortgage rules and payment status could complicate that assumption. The discussion ended with acknowledgment that the mortgage issue was likely unintended and would need further review.