Transcript Highlights:

• Homicide impacts at least 10 immediate family members.
• They, too, are impacted.
• impact to farmers that support this program.
• impact to farmers that support this program.
• cap while inflation was at 7% and 8%.

Committee: Joint Joint Committee on Ways and Means

Summary: The Joint Ways and Means Committee held its final public hearing on the FY26 state budget, with chairs and members emphasizing that public testimony would help shape the budget and asking speakers to keep remarks brief. Committee leaders introduced members, explained the hearing process, and repeatedly thanked residents, students, and advocates for participating. No votes were taken during the hearing. Testimony focused heavily on education funding and the Chapter 70 formula. Students from Amherst, Northampton, Gateway Regional, Chester Elementary, and other districts described budget-driven cuts to electives, special education supports, paraprofessionals, counselors, transportation, and building maintenance. They urged higher Chapter 70 aid, increased minimum aid, rural school aid, and a reopening or restructuring of the funding formula, arguing that current formulas leave many districts unable to meet student needs and force local layoffs and overrides. Other speakers urged funding or protection for a range of programs and facilities, including the Louis D. Brown Peace Institute for homicide survivor services, the Museum of African American History, the Massachusetts Commission for the Deaf and Hard of Hearing and CART/interpreter services, the Access to Counsel housing legal aid program, the Department of Mental Health and Pocasset Mental Health Center, and Pappas Rehabilitation Hospital for Children. One speaker opposed offshore wind-related spending and urged a reset of the state’s energy approach, while another advocated ending the aircraft sales tax exemption. Committee members responded sympathetically to many speakers, asked a few follow-up questions, and several expressed support for maintaining or expanding the programs discussed.

Transcript Highlights:

• And we also know that we have now embarked on a war that is impacting the Middle East, and we know how
• at the federal level and the impact in particular on human life...
• And we know that higher inflation is on the way.
• I think the impact on other areas in terms of people's lives and how AI impacts it is a little bit different
• all of us and how it's going to impact this.

Transcript Highlights:

• This will have impacts on our society.
• And those reductions would have real and immediate impacts.
• What was actual inflation this year? Mr.
• No, the growth in population and inflation was 49.3%.
• And that is, no formula programs are impacted.

Bills: HB4138 , HB4139 , HB4140 , HB4141 , HB4142 , HB4143 , HB4144 , HB4145 , HB4146 , HB4147 , HB4148 , HB4149 , HB4150 , HB4151 , HB4152 , HB4153 , SB1831 , SB1832 , SB1833 , SB1834 , SB1835 , SB1836 , SB1837 , SB1838 , SB1839 , SB1840 , SB1841 , SB1842 , SB1843 , SB1844 , SB1845 , SB1846

Committee: Joint Appropriations

Keywords: appropriations, education funding, health care, general fund, state budget, local funding, gaming, pari-mutuel, horse racing, regulatory assessment, first-time starters, budget implementation, federal funds, government services, budget stabilization, financial reporting, capital outlay, infrastructure, veterans services, highway construction

Transcript Highlights:

• Are you concerned about the economic impact of those?
• since are automatically getting inflation increases.
• inflation, some of the programs that have inflation built in to get everybody on the same sheet of music
• </c><00:23:53.840><c> some</c> way because that's what's impacting some way because that's what's impacting
• I also think that we can make an impact on it. I'm going to see what the proposals are.

Transcript Highlights:

• Inflation has hit this group particularly hard.
• Inflation has veterans who cannot work.
• inflation and so forth and everything inflation and so forth and everything that<00:56:13.599><c> goes
• a nice impact on our recount<01:03:07.119><c> process.
• of the tax as you would have with the inflation of the value of the home.

Committee: Senate Election Law and Municipal Affairs

Transcript Highlights:

• So it's a stronger impact.
• So that's the new line: recurring impact of permanent redirects.
• And so what the biggest driver is really medical inflation at this point.
• So inflation like we've seen everywhere else, it's just medical inflation tends to lag a little bit.
• It's what we know to be true in terms of medical inflation.

Committee: Senate Appropriations

Summary: The committee met to receive Amy Baker’s presentation on Florida’s long-range financial outlook for fiscal years 2026-27 through 2028-29. Baker said the forecast assumes continued but moderating economic growth, with Florida GDP slowing from recent highs, personal income remaining above average, wages continuing to rise faster than job growth, and population growth eventually slowing as the state approaches 2030 and the baby-boomer cohort fully ages into retirement. She also highlighted weakening housing and real-estate-related revenue, especially documentary stamp collections, along with low consumer sentiment as signs of caution in the outlook. Baker explained that the state’s near-term general revenue picture improved largely because of legislative actions taken in the prior session, including contingency releases, reversions, and other budget adjustments, rather than from major new revenue growth. She said reserves remain strong at nearly $15 billion, or just under 30% of general revenue, with the budget stabilization fund at its constitutional maximum. The main spending pressures identified were critical needs and other high-priority needs, led by a new recurring transfer to the emergency preparedness and response fund and by Medicaid, where rising service costs and medical inflation—especially behavioral analysis costs in managed care—are driving higher expenditures despite lower caseloads and a slightly better federal match. Members questioned the accuracy of the forecast, the Medicaid cost drivers, the treatment of the governor’s emergency fund, federal funding assumptions, and whether recent federal legislation was reflected in the numbers. Baker said the outlook assumes current federal funding paths continue, that the new federal tax/revenue law had not yet been fully incorporated because agencies were still reviewing it, and that the emergency fund line was calculated from recent appropriations without distinguishing specific uses. She also said the vetoed $750 million did not affect the budget stabilization fund because it reverted to unallocated general revenue. No bills were heard, no votes were taken, and the committee adjourned after the presentation and discussion.

Transcript Highlights:

• It's usually an inflated drug price set by the manufacturer.
• You know, as a cancer center, every day we see how prescription drug coverage and these decisions impact
• And these decisions impact our patients and their families.
• So the PBM has an important and critical role in a world of inflated prices, but there are conflicts
• Instead, they compete by inflating them and creating more discounts.

Committee: Senate Insurance

Summary: The Senate Insurance Committee met on May 13, 2026, adopted the May 6 minutes, and then took up several bills dealing with pharmacy benefit managers, prescription access, behavioral health coverage, and Citizens Property Insurance. HB 938, as amended, was the main PBM reform measure. After the committee adopted a large amendment set that narrowed the bill, members heard extensive testimony in support from Mark Bloom, Justin Joseph of Capital Rx, and Kathy Ue of Pontchartrain Cancer Center, all emphasizing transparency, pass-through pricing, reverse auctions, and patient access. Supporters described savings from reverse auctions and administrative models, while the cancer center testified that PBM-owned specialty pharmacy requirements can delay cancer medications and create financial hardship. The committee reported HB 938 favorably with amendments. The committee also heard HB 1154, which prohibits prior authorization for certain generic medications prescribed by qualified physicians, with a $250 cap discussed as a safeguard against higher-cost generics. The bill was supported by representatives from Ochsner Health and the Louisiana State Medical Society and was reported favorably. HB 909, which requires commercial coverage for behavioral health crisis services, was amended to clarify the insurers covered and then reported favorably with support from the Office of Behavioral Health and several outside groups. Testimony on HB 909 focused on reducing emergency room and law enforcement burdens and expanding crisis response capacity across the state. HB 1187, dealing with excess emergency assessment funds from Louisiana Citizens Property Insurance Corporation, was explained by the Insurance Commissioner as a way to transfer remaining Katrina-era assessment funds to the Fortified Roof Program. The committee reported the bill favorably. Finally, SB 511 and SB 512 were deferred and converted into a study resolution approach because there was not yet consensus on the underlying issue. The meeting then adjourned.

Transcript Highlights:

• There's been a ton of inflation the past four years, let alone the past 40 years.
• There's been a ton of inflation the past four years, let alone the past 40 years.
• There's been a ton of inflation the past four years, let alone the past 40 years.
• There's been a ton of inflation the past four years, let alone the past 40 years.
• </c> Pac-Man there's been a ton of inflation Pac-Man there's been a ton of inflation the<00:14:05.800

Summary: The Budget Review Subcommittee on General Government met for its first meeting and heard budget-related presentations from the Auditor of Public Accounts and the Secretary of State, with the Treasurer beginning a presentation at the end of the transcript. Auditor Allison Ball reviewed her office’s 2024 and early 2025 work, including hundreds of county and state audits, several special examinations, and ongoing reviews such as the kinship care funding issue, the Kentucky Department of Education audit, and the Jefferson County Public Schools audit. She said her office is focused on waste, fraud, abuse, and legal compliance, and asked the committee to consider future budget changes, including aligning her appropriation with restricted funding and restoring a stronger performance-audit function. She also highlighted audits that exposed serious problems, including the Department of Juvenile Justice review, and said those reports are intended to serve as models for other entities to avoid similar failures. Secretary of State Michael Adams said his office is self-sustaining through fees and does not need tax dollars, but asked for greater access to its own revenues and more flexibility in using them. He highlighted the Safe at Home address confidentiality program, saying recent changes expanded protections for survivors of domestic violence, sexual assault, and human trafficking, and that the program has grown rapidly while remaining funded by offender fines. Adams also urged lawmakers to again adjust county election funding for inflation, noting the current per-voter and per-precinct amounts were set decades ago. In questioning, Representative Hart asked whether the Safe at Home program was self-funding; Adams replied that it covers only about 10% of its operating cost and said the best solution would be to let the office use more of the revenue it already collects rather than rely on tax dollars. Treasurer Martin Medcafe, introduced with staff member Russell Weber, praised the General Assembly’s fiscal discipline and described the Treasury’s work in managing state funds. He reported strong results from the Unclaimed Property Fund, saying the office returned $35.5 million to Kentuckians in its first year and $3.8 million in the first month of the current year, and said the State Investments Commission generated $682 million in returns last year. He also highlighted financial literacy efforts through the Kentucky Financial Empowerment Commission and said the Treasury is helping manage opioid settlement funds, which are now earning up to $200,000 per month through investment. No votes or formal actions were taken in the portion of the meeting provided.

Transcript Highlights:

• So all this bill does is bring those 2008 fees up to account for inflation. that are set.
• Can you walk us through that impact in your bill?
• Adjusted for inflation to 2019 as the bill proposes, that fee would go from $5 to $6.
• So that's a little bit of inflation every year that adds up. So we increase the dollar.
• And they just look at the different inflation rates that apply.

Transcript Highlights:

• It's important to understand the impact that this is currently having on Louisiana and the impact that
• But we experience those impacts in very direct ways.
• But when you impact, have come out, crack spreads, price of oil, things like that, but when you impact
• That's a different impact, right?
• That's a real impact too. Yes, sir.

Summary: The House Natural Resources Committee met with a quorum and first took up several property-transfer bills. House Bill 110, authorizing transfer of certain state property in St. Tammany Parish for a pocket park in Mandeville, was reported favorable without objection. House Bill 634, transferring state property in St. Martin Parish to Brownell Land Company LLC, was also reported favorable. House Bill 677, allowing the Tensaw Parish School Board greater flexibility to exchange school land for property of equal or greater value with certified appraisal requirements, was reported favorable after questions about the location and purpose of the exchange. House Bill 735, a cleanup bill transferring property from DOTD to LSU Health Shreveport to support expansion and parking near Mall St. Vincent, was likewise reported favorable. The committee then held an informational hearing on the effects of the Iran conflict on Louisiana’s energy sector. Secretary Dustin Davidson said the conflict has driven oil prices sharply higher, with consumers bearing the cost through higher gasoline and especially diesel prices, while producers and refiners may see short-term gains. He warned that diesel increases can signal broader economic slowdown and discussed global shipping disruptions, the Strait of Hormuz, and Saudi Arabia’s response. Members asked about Louisiana’s ability to benefit from higher prices, the timing of increased drilling, and the role of carbon capture and infrastructure investment. Davidson said higher prices could support more drilling and severance tax revenue if sustained long enough. Industry witnesses Tommy Fochay of LOGA, David Cresson of the Louisiana Chemical Association, Mike Moncla of LOGA, and LSU energy economists Greg Upton and Tyler Gray emphasized Louisiana’s role as a major LNG exporter, refiner, and petrochemical hub. They said geopolitical shocks create volatility, but Louisiana’s abundant natural gas, infrastructure, and export capacity position the state to help meet global demand. They urged stable policy, competitive taxes, pipeline and workforce investment, and caution on regulations. Upton and Gray presented data showing oil price spikes are likely temporary, futures markets expect prices to ease over time, rig counts respond with a lag, and Louisiana natural gas prices have remained relatively insulated so far. The committee adjourned after the presentations and questions.

Transcript Highlights:

• It's important to understand the impact that this is currently having on Louisiana and the impact that
• But we experience those impacts in very direct ways.
• But we experience those impacts in very direct ways.
• That's a different impact, right?
• Maybe there's been some oil production that's been impacted.

Committee: House Natural Resources & Environment

Transcript Highlights:

• Rising costs, shifting supply chains, tariffs, and inflation are not abstract ideas.
• We have had an estimate of $450 billion of federal impacts. $450 billion of federal impacts if they are
• From the federal government, as noted, that does not just impact—it is going to impact California quite
• Furthermore, the increasing cost of regulation goes beyond inflation.
• It includes... ...goes beyond inflation.

Summary: The Assembly Budget Subcommittee 5 on State Administration heard presentations from Go-Biz and the Department of Financial Protection and Innovation on the Governor’s budget proposals. Go-Biz described California Jobs First, the state’s 10-year economic development strategy, and emphasized support for small businesses, workforce development, and targeted investment in sectors such as ag tech, life sciences, semiconductors, and advanced manufacturing. Members raised concerns about federal policy changes, tariffs, tourism, housing, child care, and whether state incentives are truly additive; Go-Biz responded that it tracks federal actions closely, works with chambers and advocates, and uses programs like California Competes to target jobs that would not otherwise come to California. The committee then reviewed the proposal to restore the California Competes grant program with $60 million. Go-Biz said the grant would help businesses that cannot use the nonrefundable tax credit, and explained the program’s five-year contracts, milestone-based awards, and recapture provisions. The Legislative Analyst’s Office said the grant could be effective but recommended stronger oversight and clearer eligibility criteria, while also noting the 30% cap in trailer bill language may be too restrictive given the smaller funding level. Public testimony supported the grant and suggested considering refundability or transferability for the tax credit to broaden access for smaller and startup businesses. Members also heard the CHIPS-related proposal for $25 million to support Natcast’s semiconductor design and collaboration facility in Sunnyvale. Go-Biz and public witnesses argued the state investment would help secure a major federal research facility, retain engineering talent, and leverage billions in broader investment, while the LAO recommended rejecting the item because of its dependence on uncertain federal funding and the state’s budget condition. The committee also considered a $17 million continuation of CA RISE, which supports employment social enterprises; Go-Biz and several grantees cited strong job placement and workforce outcomes, while the LAO recommended rejection absent a more rigorous evaluation, noting prior LA RISE evidence did not show long-term employment gains. Finally, the Department of Financial Protection and Innovation presented budget requests for IT security and rent increases, and a trailer bill to raise fees across several programs. DFPI said decades-old fee schedules, inflation, and new regulatory responsibilities have created a structural deficit and warned the department could face insolvency without adjustments. The LAO recommended approving the fee increases only on a three-year limited-term basis and asked for more detailed revenue plans for programs not covered by the proposal, so the Legislature can assess actual collections and market impacts before making the changes permanent.

Transcript Highlights:

• </c> impact on our economy and our workforce. impact on our economy and our workforce.
• HF 3078 impacts a small amount of people but has a huge impact on their livelihoods.
• HF 3078 impacts a small amount of people but has a huge impact on their livelihoods.
• HF 3078 impacts a small amount of people but has a huge impact on their livelihoods.
• HF 3078 impacts a small amount of people but has a huge impact on their livelihoods.

Transcript Highlights:

• </c><02:22:46.560><c> rural</c> is disproportionately impacting rural is disproportionately impacting
• With and inflation tripled last month.
• <02:55:13.840><c> of</c><02:55:14.080><c> life,</c> costs impact all aspects of life, costs impact all
• c> zero</c><02:59:38.800><c> emissions</c> impacted by these zero emissions impacted by these zero emissions
• It's the inflation is up over 10%.

Transcript Highlights:

• at the federal level and the impact in particular on human life,...
• And we know that higher inflation is on the way.
• In terms of the impact on the contribution rate, let's consider if the returns are lower than 6.8%.
• I think the impact on other areas in terms of people's lives and how AI impacts it is a little bit different
• all of us and how it's going to impact this.

Summary: The Assembly Committee on Public Employment and Retirement and the Senate Committee on Labor, Public Employment, and Retirement held a joint hearing required by law to receive an independent report from the California Actuarial Advisory Panel on CalPERS. Opening remarks emphasized CalPERS’ role in providing retirement security for roughly two million members and the importance of actuarial assumptions to state budgeting and long-term pension health. Scott Tarando, CalPERS chief actuary and a CAP member, presented the report with Michael Cohen of CalPERS’ investment office available for questions. Tarando explained the statutory disclosure requirements under Government Code Section 2029, including sensitivity analysis around CalPERS’ 6.8% discount rate, and discussed how investment return assumptions and the 20-year amortization period affect contribution rates, unfunded liabilities, and budget volatility. He said shorter amortization periods would raise near-term costs but reduce long-term interest costs, and noted that CalPERS’ current approach is intended to smooth contribution changes over time. He also described the timing of the annual valuation process, explaining that contribution rates for a given fiscal year are based on the most recently audited year-end data and are approved by the board before being used in the budget process. Members asked about the relationship between average employee service life and amortization, whether more current data could be used, the effect of AI and labor-market changes on future assumptions, whether retirees’ benefits change with annual valuations, and CalPERS’ funded status. Tarando said the average expected working lifetime is about 11 to 12 years, while CalPERS uses a 20-year amortization period; he also said retiree benefits are set at retirement and do not change based on later valuations. He estimated CalPERS’ funded status had risen from the mid-60% range about 10 years ago to around 79% at June 30 and above 80% more recently. Cohen said CalPERS had complied with federal information requests and that no formal federal review had been released. During public comment, a county association representative praised the improved funded status and PEPRA reforms. The chairs closed by reiterating fiduciary responsibility and the need to protect CalPERS’ long-term stability, and the meeting adjourned.

Transcript Highlights:

• But Decker's impact extends beyond the city's infrastructure.
• He impacted thousands of students during his 42-year teaching career.
• </c> Tech athletic Hall of Fame he impacted Tech athletic Hall of Fame he impacted thousands<00:22:36.279
• This bill is named for Laken Riley, but it has an impact far greater.
• </c><01:17:03.400><c> that</c> the Border we've seen the impact that the Border we've seen the impact

Transcript Highlights:

• at the federal level and the impact in particular on human life... ...At the federal level, and the
• impact in particular on human life, the president's policies are causing energy shocks.
• And we know that higher inflation is on the way.
• I think the impact on other areas in terms of people's lives and how AI impacts it is a little bit different
• and how it's going to impact this.

Summary: The Assembly Committee on Public Employment and Retirement and the Senate Committee on Labor, Public Employment, and Retirement held a joint hearing required by law to receive an independent report from the California Actuarial Advisory Panel on CalPERS. Opening remarks emphasized CalPERS’ role in providing retirement security for about two million members and the importance of pension funding to the state budget, especially amid economic uncertainty, market volatility, federal policy changes, and concerns about future fiscal pressure. Scott Tarando, CalPERS chief actuary and a CAP member, presented on the statutory disclosure requirements in Government Code Section 2029. He explained that CalPERS’ current discount rate is 6.8%, that lower investment returns increase contribution rates and unfunded liabilities, and that the plan uses a 20-year amortization period for new unfunded liabilities. He said CAP has recommended a reasonable amortization range of 15 to 20 years and that CalPERS’ longer smoothing period helps reduce volatility in employer contributions. He also explained the timing of actuarial data: the valuation used for current contribution rates is based on the prior fiscal year’s audited data, with the next year’s rates developed later in the annual cycle. Members asked about the relationship between average employee service life and amortization, whether current market and AI-related changes could justify using more current data, whether pension benefits change when valuations are updated, and how CalPERS’ funded status has changed over time. Tarando said retiree benefits do not change based on annual valuations, that the system’s funded status has improved from roughly the mid-60% range about a decade ago to around 80% or higher more recently, and that CalPERS is monitoring possible long-term workforce effects from AI but sees no immediate need to change assumptions. Michael Cohen of CalPERS said the system complies with information requests and is independently audited annually, but there has been no formal federal review released. In public comment, a representative of county governments praised the improved funded status and PEPRA reforms. The hearing concluded with remarks reaffirming fiduciary responsibility and the importance of protecting CalPERS beneficiaries.

Transcript Highlights:

• The community is going to have a lot of impacts.
• The community is going to have a lot of impacts.
• , would have fiscal impact.
• fiscal impact.
• We understand the impact and the urgency.

Bills: SB5987 , SB6170

Committee: Senate Transportation

Keywords: SB 5987, SB5987, Fairfax Bridge, State Route 165, SR 165, Carbon River, WSDOT, Washington State Department of Transportation, emergency bridge replacement, infrastructure failure, transportation emergency, climate commitment account, climate investment account, clean energy, climate funding, greenhouse gas reduction, environmental justice, renewable energy, building electrification, industrial decarbonization

Transcript Highlights:

• We didn't know what the impact would be, but that's had some effect on the economy.
• That was adjusted down for the several pieces of tax legislation that impacted revenues, and also the
• The new conformity bill actually has a little bit of a larger impact, or projected impact, in the 2027
• But in 2020, that's when we start to see the impact on the general fund from Medicaid expansion.
• And as you grow and inflation goes up, we're seeing that we're flat.

Committee: Senate Health and Welfare

Transcript Highlights:

• There's been inflation since then.
• There's been inflation since then.
• There's been inflation since then.
• </c> increased far faster than inflation. increased far faster than inflation.
• </c> times the overall rate of inflation. times the overall rate of inflation.

Summary: The House met in Annapolis on February 27, 2026, with 128 members present. After a prayer, the chamber adopted the previous day’s journal and recognized a resolution honoring Brunswick High School’s first Tech Challenge team, Minerva’s Mechanics, for winning the FTC Regional Championships and qualifying for the World Championship in Houston. The resolution was read and adopted with applause. The main legislative item was House Bill 355, concerning the Education, Sexual Abuse and Assault Awareness and Prevention Program and human and sex trafficking; the House adopted the favorable committee report and ordered the bill printed for third reading. The next bill, House Bill 534 on nonpublic school transcripts and prohibiting punitive measures related to student debt, also received a favorable report. Debate then centered on an amendment offered to HB 534 that would have tied school funding to student choice for students in repeatedly one-star-rated schools and allowed parents of habitually violent or disruptive students to consider military boarding school options. The sponsor argued Maryland’s public schools, especially in Baltimore City, were failing students despite heavy spending, citing low literacy, violence, and the book Failure Factory; several members echoed concerns about school performance, bureaucracy, and the need for educational freedom. Opponents and procedural speakers said the amendment was not germane to HB 534, which they described as a narrow bill about transcript access for students leaving nonpublic schools with unpaid fees, often students with disabilities. The floor leader urged the body to resist the amendment and stick to the bill’s actual subject. Despite multiple members explaining their votes in support of school choice and criticizing the Blueprint and school outcomes, the House ultimately took a roll call on the amendment after a voice vote was challenged. The transcript cuts off during the roll call and does not show the final recorded result on the amendment.