Transcript Highlights:

• An increase in the standard deduction by up to $1,500 per family in 2025.
• A small business owner weighing a doctor's visit against payroll.
• <08:10:23.200> Families doctor's visit against payroll.
• Families doctor's visit against payroll.
• It is a deduction that people have that generally have their incomes.

Keywords: U.S. House of Representatives Floor Proceedings on Wednesday, January 7, 2026, 1012, house, all

Transcript Highlights:

• Same thing with HR and payroll and all the other features and negotiations with unions and all the other
• all<01:22:15.560> the<01:22:15.719> other<01:22:16.159> features and payroll
• and all the other features and payroll and all the other features and<01:22:17.400> negotiations<
• and all those kind of has HR and payroll and all those kind of things<01:29:18.560> could<01:
• superintendent is in charge of payroll superintendent is in charge of payroll cash<01:58:24.480>

Keywords: 928, house, all

Summary: The committee began by announcing that afternoon hearings, including House Bill 283, would be moved to Representatives Hall because of expected public interest. It then took up House Bill 671, which would establish a kindergarten literacy readiness program. The bill’s sponsor, Rep. Mark Pearson, described the measure as a way to close gaps in early reading readiness and said it was intended as a first step, with only a placeholder appropriation while details are developed. He framed it as a targeted effort to help children who are not entering first grade ready to read. Testimony on HB 671 was largely supportive. Representatives asked about the bill’s structure, whether a specific program had been identified, how it would interact with play-based learning, and why the provider was limited to a registered nonprofit. Waterford.org representatives Teresa Rosenberger and Rob Riley testified in support, describing Waterford Upstart as a home-based, evidence-based early learning program already used in New Hampshire. They said the program provides adaptive instruction, family coaching, and technology support, including computers, tablets, internet access, and translation services in more than 100 languages. They also said the model has been successful in New Hampshire, including a Nashua pilot and later statewide efforts, and that similar legislation has existed in other states. Rep. Jonah Wheeler also spoke in support of the bill. The chair then closed the hearing on HB 671. After a fiscal note for HB 671 was distributed, the committee moved to House Bill 781, which would require school districts to adopt policies for a cell phone-free education and includes an appropriation. The transcript cuts off as Rep. Litchfield was introduced to testify on that bill, so no testimony, debate, or vote on HB 781 is included in the excerpt.

Transcript Highlights:

• There was a 5% deduction from my salary, which was my personal contribution to TRA.
• There was a 5% deduction from my salary, which was my personal contribution to TRA.
• With Tier 2 educators staying on the district payroll eight to nine years longer than Tier 1 educators
• With tier 2 educators staying on the<01:20:31.760> district<01:20:32.080> payroll<01:20
• eight to nine years the district payroll eight to nine years longer<01:20:34.400> than<01:20:

Keywords: 1187, senate, all

Transcript Highlights:

• But it may be in the ballpark of about 50,000 jobs, according to ADP, a national payroll service provider
• At the bottom, we're estimating the largest of those impacts to come from the increased standard deduction

Transcript Highlights:

• To finance Senate Bill 2867 by West relating to payroll deductions for employees of a public university

Bills: SJR 12, SJR 81, SCR 39, SB 22, SB 32, SB 241, SB 393, SB 414, SB 458, SB 464, SB 568, SB 583, SB 609, SB 660, SB 693, SB 731, SB 732, SB 746, SB 783, SB 785, SB 897, SB 993, SB 996, SB 1008, SB 1029, SB 1035, SB 1036, SB 1120, SB 1122, SB 1147, SB 1163, SB 1188, SB 1197, SB 1209, SB 1227, SB 1245, SB 1267, SB 1307, SB 1321, SB 1332, SB 1386, SB 1394, SB 1396, SB 1470, SB 1494, SB 1537, SB 1596, SB 1598, SB 1610, SB 1664, SB 1814, SB 1822, SB 1841, SB 1948, SB 2065, SB 2155, SB 2406, SB 2407, SJR 12, SJR 36, SJR 81, SJR 50, SJR 4, SCR 22, SCR 12, SCR 39, SB 765, SB 62, SB 666, SB 888, SB 687, SB 847, SB 1248, SB 504, SB 305, SB 296, SB 284, SB 241, SB 304, SB 1023, SB 204, SB 609, SB 670, SB 850, SB 854, SB 413, SB 1346, SB 1033, SB 1220, SB 1073, SB 810, SB 1539, SB 447, SB 1119, SB 1505, SB 1215, SB 1302, SB 583, SB 673, SB 681, SB 1172, SB 955, SB 957, SB 1120, SB 541, SB 266, SB 1415, SB 53, SB 1352, SB 785, SB 1450, SB 1502, SB 1566, SB 414, SB 1062, SB 711, SB 746, SB 1404, SB 1448, SB 507, SB 1026, SB 1349, SB 1355, SB 1433, SB 1434, SB 1596, SB 1403, SB 667, SB 1059, SB 1567, SB 310, SB 311, SB 505, SB 1209, SB 1210, SB 1470, SB 264, SB 1029, SB 1358, SB 1364, SB 1569, SB 1376, SB 1228, SB 519, SB 1350, SB 462, SB 827, SB 1585, SB 1396, SB 1484, SB 1273, SB 927, SB 1227, SB 1229, SB 1353, SB 1464, SB 1709, SB 1729, SB 1733, SB 1744, SB 1772, SB 1841, SB 1147, SB 1008, SB 2016, SB 1173, SB 1163, SB 996, SB 568, SB 1370, SB 1321, SB 1101, SB 860, SB 993, SB 693, SB 1610, SB 1537, SB 1332, SB 1307, SB 963, SB 493, SB 984, SB 619, SB 1122, SB 455, SB 522, SB 1057, SB 1239, SB 1254, SB 1255, SB 1259, SB 1341, SB 1664, SB 1877, SB 464, SB 1277, SB 32, SB 732, SB 660, SB 731, SB 921, SB 268, SB 1822, SB 1188, SB 1589, SB 397, SB 1058, SB 1036, SB 1267, SB 2112, SB 1930, SB 532, SB 1035, SB 2155, SB 508, SB 292, SB 291, SB 901, SB 1333, SB 1436, SB 1494, SB 964, SB 779, SB 1378, SB 2312, SB 1719, SB 1386, SB 287, SB 2143, SB 1245, SB 261, SB 1247, SB 1948, SB 2406, SB 2407, SB 1882, SB 1197, SB 1814, SB 618, SB 38, SB 393, SB 2065, SB 1371, SB 1394, SB 1365, SB 2243, SB 2226, SB 2039, SB 1919, SB 1895, SB 1598, SB 1493, SB 1810, SB 1791, SB 1706, SB 1644, SB 1238, SB 783, SB 458, SB 22, SB 651, SB 897, SB 1809, SB 1080, SB 745, SB 826, SB 989, SB 1320, SB 1437, SB 2320, SB 2289, SB 1171, SB 664, SB 1637, SB 2064, SB 868, SJR 40, SJR 27, SCR 38, SCR 37, SB 1079, SB 1243, SB 1504, SB 1851, SB 1879, SB 2237, SB 1257, SB 2034, SB 1522, SB 883, SB 249, SB 1318, SB 1151, SB 596, SB 1191, SB 226, SB 570, SB 870, SB 991, SB 60, SB 365, SB 1067, SB 1786, SB 326, SB 1401, SB 1592, SB 1728, SB 1265, SB 586, SB 529, SB 217, SB 209, SB 1923, SB 1559, SB 1839, SB 387, SB 1874, SB 1872, SB 1873, SB 1921, SB 1883, SB 1677, SB 95, SB 1620, SB 1838, SB 2024, SB 2429, SB 1999, SB 511, SB 2309, SB 2166, SB 871, SB 510, SB 33, SB 2420, SB 1860, SB 1541, SB 1316, SB 1314, SB 1313, SB 1426, SB 1398, SB 1869, SB 1750, SB 1871, SB 36, SB 855, SB 1233, SB 760, SB 2425, SB 2037, SB 1758, SB 1759, SB 2365, SB 1924, SB 762, SB 1271, SB 1818, SB 605, SB 1405, SB 1762, SB 1968, SB 1977, SB 2077, SB 2148, SB 2321, SB 1967, SB 1662, SB 1663, SB 2124, SB 2204

Keywords: parental rights, education, constitutional amendment, school choice, child education, tax exemption, ad valorem, tangible personal property, income production, border security, southern border, federal immigration policy, illegal immigration, cartels, transnational cartels, fentanyl, drug trafficking, human trafficking, Operation Lone Star, Texas border

Summary: The meeting primarily focused on educational reforms, particularly in special education funding. Notably, Senator Bettencourt laid out the transformative impacts of Senate Bill 568, which aims to lift a historical cap on special education funding that affected approximately 775,000 students. The discussions included plans for an intensity-based funding model that could ensure fair distribution of resources depending on individual needs, thereby enhancing educational support for diverse learning requirements. Senators acknowledged past failures in the special education framework, emphasizing the necessity of moving towards a system that is transparent and focused on delivering adequate services.

Transcript Highlights:

• government has long fought for affordability with demand-side policies such as the home mortgage interest deduction
• That includes prevailing wage compliance, weekly certified payroll reporting, on-site labor interviews

Keywords: affordable housing, government investment, barriers, legislative solutions, public testimony

Summary: The committee meeting focused on addressing the significant issue of affordable housing in America. Members expressed concern over the persistent barriers faced in the housing sector, despite substantial government investment aimed at alleviating these issues. It was highlighted that government interference plays a critical role in complicating the housing landscape, and discussions revolved around potential legislative approaches to mitigate these challenges. Several witnesses provided testimony, contributing to a thorough exploration of the topic.

Transcript Highlights:

• So just as an employer will have their employee complete the tax payroll deductions for their taxes,

Keywords: 912, senate, all

Summary: The Committee on Labor and Technology heard testimony on several measures. Senate Bill 327, relating to internships, drew broad support from the Department of Education, Department of Labor and Industrial Relations, University of Hawaiʻi, DBEDT, P20, HFIA, Hawaiʻi Electric, the Hawaii Primary Care Association, and the Chamber of Commerce, with suggested amendments to clarify the internship purpose, limit some responsibilities to the state executive branch, and address staffing and reporting details. The committee later recommended passing SB 327 with amendments, including changes to the internship language, private-sector references, work-hour limits, reporting requirements, and a deferred effective date for further discussion. Senate Bill 716, relating to the Hawaii Employment Security Law, received support from the Department of Labor and Industrial Relations as a step toward modernizing unemployment insurance, and the committee recommended passage with housekeeping and technical amendments. Senate Bill 717, relating to collective bargaining, would allow certain exempt employees to grieve suspensions or discharges. The City and County of Honolulu and the Department of Human Resources Development said the issue should remain a collective bargaining matter, while HGEA and United Public Workers supported the bill. DHRD opposed changing the statute and pointed to existing internal complaint procedures. The committee nevertheless recommended passing SB 717 with amendments and deferred the date for further discussion. Senate Bill 742, relating to data sharing, would create a data sharing and governance working group within the Office of Enterprise Technology Services and include appropriations. OETS, the Executive Office on Early Learning, the University of Hawaiʻi, DOE, Hawaiʻi Kids Can, Hawaiʻi P-20, and others supported the measure, with OETS estimating a total cost of about $2.64 million, including software, consulting, and six FTE. The committee recommended passage with amendments and a deferred effective date, and noted the budget request in the committee report. The final measure, Senate Bill 855, relating to the Hawaii Retirement Savings Act, would shift the program from opt-in to opt-out and appropriate startup funds; former Senator Brian Taniguchi and AARP supported it, while Retail Merchants of Hawaiʻi and the Tax Foundation of Hawaiʻi opposed it over costs and burdens on small businesses and concerns about adding mandates before the program is implemented. The committee recessed briefly on a proposed AARP amendment, then returned and indicated support for the opt-out language before taking the bill up for decision-making.

Transcript Highlights:

• initiatives, state purchasing, all kinds of things go through the Office of Administration, state employee payroll
• Bills like the gentleman from District 125 has a bill for a tax deduction for farmers, the gentleman
• I went for books and payroll and all that good stuff, just up and disappears.
• I went for books and payroll and all that good stuff, just up and disappears.

Keywords: 959, house, all

Summary: The House convened with prayer, the Pledge of Allegiance, approval of the previous day’s journal, and a series of special guest introductions recognizing family members, interns, students, public servants, and community advocates. Committee reports and Senate messages followed, including Senate refusals to concur on a large number of amendments to Senate Bill 1421 and the appointment of a conference committee on House Bill 2818. The main floor action centered on the state budget, especially House Bill 2 (public education). The budget chair explained the conference report’s funding mix for K-12 schools, including $8.4 billion for public education, changes to the foundation formula, use of blind pension funds, and possible ARPA dollars later in the process. Members debated whether the report underfunded schools by $45 million or more, with opponents arguing the state was not fully funding the formula and supporters saying total school funding remained at record levels and that the issue was the source of funds rather than the total amount. A substitute motion to send HB 2 back to conference failed 62-89, and the conference report was then adopted 83-68; the bill was third read and passed 83-68. The House then took up House Bill 2003 on higher education, where the conference report largely restored the governor’s recommendation and directed the department to develop a new funding formula by the end of the year. Members discussed performance-based funding, scholarships, apprenticeships, and the need for a slower transition to any new model. The conference report passed 119-28, and the bill was third read and passed 109-32. House Bill 2004, covering Revenue and Transportation, included about $20 million for rural roads and other transportation funding; members discussed constitutional concerns, MoDOT projects, and a small local safety fix. The conference report passed 128-21, and the bill was third read and passed 127-27.

Transcript Highlights:

• fiscal responsibility, and whereas the governor of New Hampshire is positioned to review all state payroll
• fiscal responsibility, and whereas the governor of New Hampshire is positioned to review all state payroll
• fiscal responsibility, and whereas the governor of New Hampshire is positioned to review all state payroll
• 42.639> as<02:18:42.760> well<02:18:42.920> as<02:18:43.000> to state payroll
• expenditures as well as to state payroll expenditures as well as to balance<02:18:43.439> and

Keywords: 1189, house, all

Transcript Highlights:

• They only pay property tax and payroll taxes.
• Our insurance benefit at that time read that it would cover 50% of the allowable after the deductible
• Only $2,000 of that went toward our deductible and out of pocket, and then insurance didn't pay anything
• their child's hearing aids simply because this well-intentioned law is outdated in the era of high deductible
• era of high deductible insurance plans. era of high deductible insurance plans.

Keywords: Meeting Start 00:00:00 Call to Order and Roll Call 00:00:23 Kentucky Bankers Association 00:02:32 How to Read and Understand KRS 6.948 Health Mandate and Federal Cost Defrayal Impact Statements 00:25:40 Proposed Amendments to Kentucky's Essential Health Benefit-Benchmark Plan 00:50:18 Proposed Health Insurance Legislation for the 2026 Session 01:04:22 Reimbursement for Covered Benefits Delivered Through the Psychiatric Collaborative Care Model 01:01:46 Coverage of Eating or Feeding Disorders 01:18:47 Coverage of Hearing Loss 01:25:31, 958, all

Summary: The Interim Joint Committee on Banking and Insurance met for its first interim meeting, established a quorum, approved routine opening items, and welcomed a new committee assistant and a legislative intern. The committee first heard a Kentucky Bankers Association presentation from Tim Shank and John Cooper focused on the state’s housing shortage, which they described as affecting all 120 counties and especially low- and moderate-income and workforce housing. They urged support for a proposed $20 million banker-backed revolving fund, paired with tax credits, to finance new housing construction; they said the program would be flexible, could support alternatives such as manufactured housing, and would use below-market loans with tax credits vesting over five years only after units are completed. They also asked for extension of the historical tax credit carryforward from five to seven years and for continued support of new market tax credits, arguing that supply-chain delays make the longer period necessary for historic rehabilitation projects. The bankers also raised concerns about credit unions, arguing that because credit unions do not pay the same taxes as banks, they should not be allowed to acquire healthy state-chartered banks or hold state and local deposits. They cited the recent purchase of First State Bank of Middlesborough as an example, saying the transaction would reduce state, county, and city tax revenue and weaken local tax bases. In response to committee questions, the presenters said local regulations, zoning, parking, sidewalk, and utility easement issues can significantly delay housing projects, and they emphasized that state policy and infrastructure support are needed to help address affordability and development barriers. The committee then shifted to a Department of Insurance presentation by Commissioner Sharon Clark on how to read KRS 6.948 health mandate and federal cost defrayal impact statements. Clark explained that the mandate statements were created in 1998 so legislators would have actuarial estimates of how proposed health insurance mandates would affect administrative costs, premiums, and total costs, and she noted that later legislation added federal cost-defrayal analysis. She also reviewed the background of the Affordable Care Act’s essential health benefits framework and said the department’s statements are intended to help lawmakers make informed decisions on proposed health coverage mandates. No votes or formal actions were taken during the portion of the meeting provided.

Transcript Highlights:

• Start compensation, that the new paid break law is causing issues with losing funding by having to deduct
• We're including that time in our payroll systems, but we have no other way of tracking and subtracting
• that<00:58:14.160> time<00:58:14.800> in<00:58:15.160> our<00:58:15.800> payroll
• We're including that time in our payroll We're including that time in our payroll systems,<00:58

Keywords: 1187, senate, all

Transcript Highlights:

• The city of Laramie, for example, wants to increase its payroll by at least 3/4 of a million dollars
• Larmy, for example, wants to increase Larmy, for example, wants to increase its<00:16:15.440> payroll
• 16.560> 3/4<00:16:17.199> of<00:16:17.279> a<00:16:17.519> million its payroll
• by at least 3/4 of a million its payroll by at least 3/4 of a million dollars<00:16:18.480> per
• Deducted on their income tax returns.

Keywords: 916, all

Bills: HR310, HR314, HR316, HR317, HR321, HR275, HR276, HR279, HR282, HR286, HR289, HR292, HR295, HR302, HR319, HCR112, HR307, SCR59, SCR61, SCR62, SCR68, SCR69, SCR70, SCR54, SCR55, SCR64, SCR75, HCR79, HCR104, HB75, HB410, HB719, HB750, HB944, HB1098, HB1220, HB1252, HB359, HB210, HB468, HB1117, SB382, HB368, HB552, HB732, HB870, HB1236, SB29, SB42, SB43, SB149, SB208, SB274, SB300, SB312, SB387, SB389, SB401, HR74, HB998, HB901, HR20, HCR65, HCR71, HCR98, HB284, HB306, HB341, HB366, HB393, HB458, HB577, HB603, HB605, HB614, HB625, HB646, HB733, HB752, HB773, HB798, HB911, HB955, HB996, HB1035, HB1069, HB1113, HB1140, HB1180, HB1191, HB1240, HB1255, SB82, SB89, SB97, SB123, SB237, HB36, HB42, HB74, HB119, HB159, HB258, HB259, HB302, HB414, HB459, HB848, HB956, HB1017, HB1028, HB1095, SB217, SB283, SB469

Keywords: oil and gas, orphan wells, inactive wells, shut-in wells, marginal wells, plugging and abandonment, well decommissioning, site remediation, site restoration, Oilfield Site Restoration, OSR program, financial security, bonding, taxpayer liability, public liability, offshore wells, onshore wells, coastal erosion, Department of Conservation and Energy, natural resources

Bills: HR310, HR314, HR316, HR317, HR321, HR275, HR276, HR279, HR282, HR286, HR289, HR292, HR295, HR302, HR319, HCR112, HR307, SCR59, SCR61, SCR62, SCR68, SCR69, SCR70, SCR54, SCR55, SCR64, SCR75, HCR79, HCR104, HB75, HB410, HB719, HB750, HB944, HB1098, HB1220, HB1252, HB359, HB210, HB468, HB1117, SB382, HB368, HB552, HB732, HB870, HB1236, SB29, SB42, SB43, SB149, SB208, SB274, SB300, SB312, SB387, SB389, SB401, HR74, HB998, HB901, HR20, HCR65, HCR71, HCR98, HB284, HB306, HB341, HB366, HB393, HB458, HB577, HB603, HB605, HB614, HB625, HB646, HB733, HB752, HB773, HB798, HB911, HB955, HB996, HB1035, HB1069, HB1113, HB1140, HB1180, HB1191, HB1240, HB1255, SB82, SB89, SB97, SB123, SB237, HB36, HB42, HB74, HB119, HB159, HB258, HB259, HB302, HB414, HB459, HB848, HB956, HB1017, HB1028, HB1095, SB217, SB283, SB469

Keywords: oil and gas, orphan wells, inactive wells, shut-in wells, marginal wells, plugging and abandonment, well decommissioning, site remediation, site restoration, Oilfield Site Restoration, OSR program, financial security, bonding, taxpayer liability, public liability, offshore wells, onshore wells, coastal erosion, Department of Conservation and Energy, natural resources

Transcript Highlights:

• That is income and deductions.
• That is income and deductions.
• /c><01:02:55.120> that<01:02:55.440> are<01:02:55.680> largely with higher deductibles
• that are largely with higher deductibles that are largely what<01:02:56.920> we<01:02:57.040>
• Payroll, rent, food, licensing requirements do not pause when funding becomes uncertain.

Keywords: 1187, senate, all

Transcript Highlights:

• They use labor brokers and shell companies to under-report payroll, misclassify workers, and dodge workers
• Six months after moving in, the home floods, the buyer has to pay out their deductible, and the insurance

Keywords: 995, all

Summary: The Joint Committee on Financial Services held a public hearing with about 43 witnesses and a 1:00 p.m. hard stop, and the chair repeatedly asked speakers to keep testimony to three minutes. Much of the hearing focused on S. 747/H. 1336, which would extend paid family and medical leave and unemployment insurance to graduate student workers. Supporters included legislators, union leaders, graduate workers from MIT, Harvard, BU, WPI, UMass Lowell, and others, and legal advocates. They argued graduate workers perform full-time teaching and research work, pay taxes, and should not be excluded from basic safety-net benefits; several witnesses described personal hardships involving childbirth, serious illness, mental health crises, funding cuts, or fear of losing income. Testifiers also said the change would be revenue-neutral or revenue-generating and would not create major administrative burdens for universities, which already provide similar benefits to other employees. The committee also heard testimony on insurance-related bills. Christopher Stock of the Massachusetts Insurance Federation supported H. 1113 on public adjusters and H. 1345/S. 753 on flood-zone notifications for homebuyers, but opposed H. 4112, which would add a $2 surcharge on home insurance policies to fund fire cistern programs. The Metropolitan Area Planning Council strongly supported H. 1345, saying flood disclosure is needed because Massachusetts lacks statewide flood-notification requirements and flooding risks are increasing. Karen Alvarado supported H. 4352 on travel insurance, and John Fielding supported H. 1186 on pet insurance; both said the bills would create uniform regulatory frameworks and consumer protections. Rep. LeBoeuf testified for H. 4061 on workers’ compensation premium fraud, describing the bill as a transparency measure to combat fraud in construction by creating a public certificate-of-insurance database and QR-code verification system. Joe Bright of the carpenters’ union also supported H. 4061, citing fraud, misclassification, and the harm to injured workers. The hearing also included testimony on H. 4112, a bill to create a statewide fire suppression water resource fund and cistern program. Rep. Hogan and a Stowe fire chief described drought, brush fires, and the need for dedicated cisterns in communities without municipal water systems, saying the tanks provide reliable water for firefighting and are relatively low-tech once installed. Committee members asked questions about tank capacity, siting, maintenance, and funding. No votes or formal actions were taken during the hearing.

Transcript Highlights:

• The bill ensures that leave is provided. either without loss of salary or deduction from vacation, sick
• I think they have to pay too much in payroll, in property tax, and so they're concerned.

Bills: HB1952, HB3258, HB3524, HB3851, HB4478, HB4613, HB4703, HB4742, HB4744, HB4809, HB4864

Keywords: county appraisal district, board of directors, governance, taxing units, public representation, penalty, property report, taxation, timely filing, chief appraiser, appraisal district, ad valorem tax, property appraisal, tax protests, unequal appraisal, property rights, property tax, public employees, protest leave, appraisal review board

Transcript Highlights:

• District of Columbia Council wants to deny its citizens the ability to enjoy the increased standard deduction
• District of Columbia Council wants to deny its citizens the ability to enjoy additional charitable deductions
• in constituents experiencing delayed retirement processing at OPM and at federal agencies and at payroll
• in constituents experiencing delayed retirement processing at OPM and at federal agencies and at payroll
• in constituents experiencing delayed retirement processing at OPM and at federal agencies and at payroll

Keywords: U.S. House of Representatives Floor Proceedings on Tuesday, February 3, 2026, 1012, house, all

Transcript Highlights:

• Members, very similar to what this bill does, it allows food service establishments to do deduct $2 from
• Thank you very much. conservation through a tax deduction for restaurants who recycle oyster shells.
• the front end is going to say, here's my engagement letter, here's directing the a refund, I will deduct
• deductible I Am NOT a tax person I am an electrician, okay that Being said, to my knowledge, ma'am, to
• It's amending sections of law that require the comptroller to deduct overpayments from underpayments

Bills: HB19, HB30, HB851, HB1663, HB1681, HB1769, HB1937, HB1979, HB2428, HB2433, HB2825, HB3159, HB3424, HB3486, HB3487, HB3504, HB3605, HB3879, HB3994, HB4382, HB4752, HB5444, HB5446, HB5447, HB3199, HB4847, HB19

Keywords: local government debt, property tax, ad valorem tax, bond election, certificate of obligation, anticipation note, school district tax rate, voter-approval rate, debt service cap, municipal finance, county bonds, flood control district, hospital district, public works, tax transparency, property tax notice, November uniform election date, general obligation bonds, local debt reform, taxpayer notice

Transcript Highlights:

• So, moving to the illustrations of level percent of payroll.
• So moving to the illustrations of level percent of payroll.
• that assumption to 2.25% in recognition of the declining payroll.
• of payroll amortization.
• We are using active member payroll to make that debt payment.

Keywords: 959, house, all

Summary: The Joint Committee on Public Employee Retirement held a hearing focused on the Missouri State Employees’ Retirement System (MOSERS) and its long-term financial condition. MOSERS staff and its investment consultant reviewed the system’s structure, membership, funding policy, and investment approach. They reported a June 30, 2025 funded ratio of 55.4%, with about $17.4 billion in liabilities and $9.6 billion in assets, and explained that the board certified a 32% employer contribution rate under its minimum contribution policy, up from 30.25%, which will increase state appropriations. They also described the system as mature, with more retirees and inactive members than active employees, and said declining payroll growth has made it harder to improve funding. The presentation emphasized that recent board actions were intended to strengthen the plan over the long term, even though they increased near-term costs. Those changes included lowering the assumed investment return over time to 6.95%, updating mortality assumptions, moving from an open to a closed amortization schedule, and adopting a minimum employer contribution policy. The investment consultant said MOSERS historically used a more risk-balanced asset allocation than many peers, which helped explain weaker relative returns during a long period when public equities outperformed; the board has since shifted toward a more equity-oriented allocation. He said recent performance has improved, with the portfolio outperforming its policy index and ranking better against peers in the short term, though longer-term peer performance remains a concern. Committee members questioned why the funded ratio had declined over roughly 20 years and whether past investment and actuarial assumptions were too optimistic or too conservative. MOSERS officials responded that the current board is trying to correct earlier decisions and that the present strategy is more in line with industry practice. Members also discussed a proposed MOSERS bill package that would automatically refund small balances to terminated non-vested members and increase deferred compensation auto-escalation, with officials saying the refund provision would improve efficiency and return small balances sooner. The committee also briefly discussed ongoing litigation involving Catalyst Capital; MOSERS said attorney fees have been about $20 million so far, the case remains on appeal, and the damages amount is sealed. No formal votes were taken, and the committee adjourned after questions and discussion.