Video & Transcript Research : 'directed trust'

Page 21 of 500
UT

Utah 2025 2nd Special Session

Public Utilities, Energy, and Technology Interim Committee - November 19, 2025

Public Utilities, Energy, and Technology Interim Committee

Transcript Highlights:
  • And that's kind of the direction that's moving.
  • Zero-trust architecture says we don't trust anything ever. It always has to... trusted.
  • Zero-trust architecture says we don't trust anything ever.
  • zero-trust architecture, 800-207.
  • You have to trust government not to turn on the switch.
Keywords: 985, all
MN

Minnesota 2025-2026 Regular Session

Committee on Judiciary and Public Safety - 01/27/25

Judiciary and Public Safety

Transcript Highlights:
  • Thank you, Senator Westlin. trust code and I do have um Lauren Baron trust code and I do have um Lauren
  • <00:01:31.520> and here who is from the probate trust and here who is from the probate trust
  • The next section is at line 7.26: Section 501C.0808, directed trusts.
  • c808 and this deals with um a directed c808 and this deals with um a directed trust<00:09:04.959
  • 06.640> allows<00:09:07.200> that trust so Minnesota trust law allows that trust so Minnesota
Keywords: 1187, senate, all
WY

Wyoming 2026 Regular Session

House Floor Session-Day 19, March 4, 2026-AM

Wyoming House Floor Meeting

Transcript Highlights:
  • And the trust is there.
  • And the trust is there.
  • And the trust is there.
  • And the trust is there. But to it free. And the trust is there.
  • I trust my pharmacists just as much as I trust my doctors.
Keywords: 916, all
MN

Minnesota 2025-2026 Regular Session

Minnesota House votes to pass SF571 4/24/25

Minnesota House Floor Meeting

Transcript Highlights:
  • trusts.
  • At least 35 that a trust can exist.
  • <00:01:44.759> trusts.
  • <00:01:45.759> It<00:01:46.079> increases related to directed trusts.
  • It increases related to directed trusts.
Keywords: 1183, house
KY
Transcript Highlights:
  • Are these revocable or irrevocable trusts, or are there any distinctions in the bill?
  • are these revocable or irrevocable trust are these revocable or irrevocable trust or<00:27:26.640
  • > of<00:28:45.600> a unable to be a direct beneficiary of a unable to be a direct beneficiary
  • <00:30:25.840> to retirement benefits to be directed to retirement benefits to be directed
  • is this a direct beneficiary run direct<00:32:26.200> uh<00:32:26.440> for<00:32:26.720
Summary: The committee first approved the prior month’s minutes after a roll call established a quorum. It then heard testimony on a draft proposal from Senator Robbie Mills to increase CERS retiree health subsidies for members retiring on or after July 1, 2003. The bill would raise the non-hazardous subsidy from $14.63 to $40 per month per year of service and the hazardous-duty subsidy from $21.94 to $50, with employee contribution rates adjusted based on the health trust’s funded status. Supporters from sheriffs, firefighters, police chiefs, and the Kentucky League of Cities said the change would improve recruitment and retention, better align the subsidy with the cost of a single health plan, and preserve the system’s financial footing through shared employer-employee costs and funding triggers. Committee members asked about the fiscal impact, the effect of funding levels above 150%, and how the subsidy would work for rehired retirees or employees who later take private-sector jobs. Mills and other witnesses said preliminary actuarial work was still forthcoming, that the bill was intended to be revenue-neutral or close to it, and that the subsidy would continue to be paid monthly; they also noted existing 2008 rules for rehired retirees and said the benefit would still be available even if a retiree later had other insurance. One member suggested looking at stable accounts as an additional option for special-needs planning in a later bill. The committee then heard Senate Bill 58 from Senator Robin Webb, which would allow state employees to designate a Special Needs Trust as a beneficiary for retirement benefits. Webb said the measure would help employees provide for disabled dependents without jeopardizing SSI or Medicaid eligibility, and that the bill follows federal special-needs trust rules. He said the proposal could be revenue neutral, but actuarial analysis was still pending and KPPA had asked for electronic rather than paper transfer provisions. Members questioned whether the authority already exists, how the trust would work, and whether stable accounts should also be considered; Webb said he would follow up with additional information.
FL

Florida 2025 Regular Session

March 13, 2025 - 01:00 PM

Transcript Highlights:
  • The bill directs the center to constantly evaluate and update the model.
  • Next, we'll hear CS for HB 385, trust from Representative Oliver.
  • This bill modifies the following sections relating to trust decanting.
  • the new second trust when applying Section 736.04117, Florida Statutes, to the second trust.
  • It revises the Florida Community Property Trust dealing with community property trusts.
Summary: The committee met with a quorum and heard five bills. HB 1097 would rename the Florida Catastrophic Storm Center at FSU as the Florida Center for Excellence in Insurance and Risk Management, transfer the public hurricane loss projection model from FIU to FSU, and provide recurring and nonrecurring appropriations to support independent insurance research and collaboration with OIR and other universities. Members discussed university roles, model oversight, independence from industry funding, and student/workforce benefits. The bill passed favorably on a roll call vote. HB 319 would create a regulatory framework for virtual currency kiosk businesses, requiring registration with the Office of Financial Regulation, consumer disclosures, and penalties for violations. Much of the discussion focused on fraud prevention, especially for seniors, and whether the bill should include transaction caps or stronger recovery tools; AARP supported the bill but urged additional protections. The bill passed favorably. CS/HB 385 made technical changes to the Florida Trust Code and Community Property Trust Act, including decanting, trustee claims, redemption by satisfaction, and homestead transfer treatment; an amendment conforming to the Senate version was adopted, and the bill passed favorably. CS/HB 97 would allow service of process for exploitation injunctions against unascertainable scammers through the same communication method used to contact the victim, such as text or social media, and would let courts freeze funds temporarily while the matter is heard. Testimony from elder law practitioners and AARP supported the bill as a tool against scams, while some members raised due process and overreach concerns; the bill passed favorably. HB 839 would shorten the overpayment recovery window for claims submitted to psychologists and HMOs to match other health providers, with the goal of improving parity and access to mental health care; an amendment was adopted, and the bill passed favorably. The meeting concluded with adjournment after the final roll call votes.
AZ
Transcript Highlights:
  • interest of trust beneficiaries.
  • trust land.
  • As part of its responsibility to administer state trust land in the trust best interest...
  • That is used; it can only be used for trust operations, things related to the trust.
  • That is used; it can only be used for trust operations, things related to the trust.
Keywords: 1182, all
Summary: The Joint Natural Resources and House Natural Resources, Energy and Water Committees of Reference heard the Arizona Auditor General’s sunset review of the Arizona State Veterinary Medical Examining Board. The audit found the board generally met some licensing requirements, but it did not timely investigate and resolve 49 of 159 complaints in fiscal year 2024, and it did not fully comply with conflict-of-interest disclosure and filing requirements. The Auditor General also identified weaknesses in continuing-education verification and other sunset-factor areas, and the board agreed to implement all 21 recommendations. Board staff said complaint volume has risen sharply since the pandemic, that the board’s process is slower because every case goes through an investigative committee and then the full board, and that it has already corrected some conflict-of-interest issues and is adding tools to improve continuing-education audits. The committee then heard testimony from the board’s executive director and from the Arizona Veterinary Medical Association. The executive director emphasized the board’s public-protection mission, described the shortage of veterinarians and veterinary technicians, and said the board is working to improve efficiency through a new e-licensing system and staff training. Members asked about the shortage of large-animal veterinarians, complaint backlogs, and whether the board could do more to recruit rural practitioners; the board said it lacks direct recruiting authority but supports multiple licensure pathways and loan-assistance efforts. The veterinary association supported the board’s oversight and said it is also working on rural and large-animal workforce issues through partnerships and advocacy. The committee then voted to recommend continuing the board for eight years, until July 1, 2034. The committee next took up the Arizona State Land Department, beginning with the Auditor General’s presentation on the department’s sunset review and prior special audit. The audit found the department had not updated its required five-year disposition plan since 2011, had sold more than 48,000 acres without an active plan, had allowed agricultural rental rates to go unchanged since 2006 despite market increases, and had not consistently inspected mineral-related leases or properly managed reclamation bonds. The Auditor General said these issues created risks of lost revenue, reduced transparency, and public-safety hazards, and recommended 18 corrective actions in the main review plus 34 additional recommendations on other issues; the department agreed to most recommendations but declined to adopt a written policy for commissioner-initiated land sales. Commissioner Robin Sahid said the department is working through audit recommendations, has created a rules team, improved its customer portal, and is pursuing new policies on water use, transportation-basin leases, and disposition planning. Members questioned the department about agricultural leases, groundwater valuation, the Fondomonte leases and reimbursement for improvements, the canceled Coyotes land auction, backlog and processing times, and the use of consultants and administrative funds. The commissioner said the department had over 2,000 applications in queue when she arrived, that it has made progress reducing the backlog, and that it is conducting stakeholder outreach on water-efficiency standards and lease addenda. No final vote on the land department continuation was taken in the portion provided.
NM

New Mexico 2025 Regular Session

IC - Legislative Finance Aug 21st, 2025

Transcript Highlights:
  • And leverage partnerships like my trusted partnership.
  • So what would be the best direction we should take that in? Mr.
  • much more direct technical assistance to small water systems.
  • They go out; this is for the Water Trust Board.
  • The Water Trust Board does things correctly.
FL
Transcript Highlights:
  • CARE TRUST FUND.
  • AND $1,231,307,005 IN THE MEDICAL IN GRANTS DONATIONS TRUST FUND.
  • MEDICAL CARE TRUST FUND TO SUPPORT THE DISTRIBUTION OF THESE PAYMENTS.
  • AND 13,873,898 IN THE MEDICAL CARE TRUST FUND.
  • IN THE PREPAID HEALTH PLAN HOSPITAL DIRECT PAYMENT PROGRAM APPROPRIATION.
Keywords: 999, senate, all
UT

Utah 2025 2nd Special Session

Natural Resources, Agriculture, and Environment Interim Committee - November 19, 2025

Natural Resources, Agriculture, and Environment Interim Committee

Transcript Highlights:
  • This is a good step in a direction of addressing an issue with our weed... ...step in a direction of
  • Others were directed to the office.
  • , are we not, rather than trust lands?
  • We just heard that there's 12 beneficiaries that have trust lands.
  • But I think it's in the right direction.
Keywords: 985, all
FL

Florida 2026 5th Special Session

FL House Floor Session - 2025-06-16 (7:00PM Session)

Florida House Floor Meeting

Transcript Highlights:
  • Any charitable trust. So current law exempts testamentary trusts and private trusts.
  • We're merely adding charitable trusts to the menu of trusts that are exempt.
  • trust to be included with the testamentary and private trust?
  • or private trusts.
  • or private trusts.
Summary: The House met on the final day of session, swore in Representatives Boyles and Hodgers, and observed a moment of silence for the Minnesota House Speaker Melissa Hortman and her husband, as well as for Representative Rosenwald’s father. The chamber then moved into final budget work, with leaders outlining the plan to take up H.J.R. 5019, HB 7031, HB 5017, HB 5015, and then the general appropriations act once the Senate transmitted it. H.J.R. 5019, a proposed constitutional amendment to expand the budget stabilization fund, was explained and amended to raise the rainy day fund cap, require annual deposits, and allow withdrawals for critical state needs by a two-thirds vote; it passed 100-1. The House then adopted the conference report on HB 7031, the tax package. The bill repeals the business rent tax and aviation fuel tax, delays the natural gas fuel tax, creates or expands several sales tax holidays and exemptions, including permanent exemptions for disaster-preparedness items, hunting/fishing/camping items, and ammunition and firearms-related purchases, and makes changes to property, corporate income, local tax, and economic development provisions. Members debated the removal of recurring housing trust fund and transit-related revenue streams, the new ammunition exemption, and the data center tax changes; supporters argued the package reduces taxes and preserves annual budget flexibility, while opponents raised concerns about housing, transportation, and gun violence. The conference report passed 93-7. HB 5017, creating a debt reduction program funded by a recurring transfer to retire state bonds early, passed unanimously. HB 5015, the state group insurance conforming bill, which directs DMS to develop a formulary management plan and codifies the administrative health insurance assessment, also passed. The House then began explanation and questions on the fiscal year 2025-26 general appropriations act, described as a $115.1 billion budget that is down $3.8 billion from the current year and includes more than $12 billion in reserves. Subcommittee chairs summarized major spending areas, including pre-K-12 funding increases, health care funding for Medicaid, KidCare, nursing homes, opioid treatment, and mental health, transportation and economic development funding, environmental and water projects, higher education, state administration, justice, and information technology. Questions focused on school vouchers, inflationary pressures on school districts, and the adequacy of funding for housing, transportation, and other priorities.
VA
Transcript Highlights:
  • Pool taxes may be offset by interest earned on the trust fund.
  • That the trust fund balance does not get too low. It kicks in before we get there.
  • Now, I invoked the unemployment trust fund. The unemployment trust fund is administered by the VEC.
  • VEC routinely monitors the balance of the trust fund.
  • to the trust fund.
Summary: The Commission on Unemployment Compensation met with a quorum present, introduced new members and staff, and elected Delegate Destiny LeVere Bolling as chair and Senator Mike Jones as vice chair. The commission also adopted its electronic meeting policy. The Secretary of Labor and Virginia Employment Commission leadership then gave introductory remarks about the labor secretariat, VEC’s role, and the administration’s focus on workforce stability, transparency, and access to services. Staff provided a legislative update on recent unemployment-related bills. Marvie Ali reviewed the commission’s statutory duties and noted that HB 1320 and SB 759 increased the weekly unemployment benefit amount by $48 effective July 1, 2026, following a prior $52 increase in 2025 that together fulfilled the commission’s earlier recommendation to raise benefits by $100. She also summarized HB 1319, which would have set a 26-week maximum duration but was continued to 2027, the budget item providing $75,000 for actuarial support, and SB 433, which changed labor-dispute disqualification rules so certain locked-out workers may receive benefits. Staff also reported that the 2025 work group studying annual benefit adjustments did not complete its work, and members discussed reinstating it at a future meeting. VEC Deputy Commissioner Joanna Darkus presented an extensive overview of the unemployment insurance system, including eligibility rules, tax structure, benefit levels, claims trends, trust fund solvency, fraud prevention, and implementation of recent legislation. She said Virginia’s unemployment rate remains low by historical standards, but claim durations and benefit outflows have increased, and the trust fund balance factor is projected at 50.9%, near the statutory trigger for additional employer charges. Members asked about the taxable wage base, employer tax rates, solvency, staffing during the pandemic, and implementation of paid family and medical leave. Darkus said VEC is using ID.me, improving controls, and preparing for paid family and medical leave through regulations, staffing, IT procurement, public comment, and listening sessions. During public comment, a Virginia Poverty Law Center representative urged the commission to strengthen the UI system through state action, warning that federal funding and oversight are unreliable and arguing that Virginia should invest in benefits, administration, and modernization. The meeting ended with no further business and adjournment.
ND

North Dakota 2026 1st Special Session

Water Topics Overview Committee Jun 10th, 2026 at 09:00 am

Water Topics Overview Committee

Transcript Highlights:
  • And discretionary, you had also directed us to fund our legislative directed studies out of discretionary
  • You had also directed us to transfer $40 million in cash from the Resources Trust Fund to repay the Water
  • And discretionary, you had also directed us to fund our legislative directed studies out of discretionary
  • You had also directed us to transfer $40 million in cash from the Resources Trust Fund to repay the water
  • So that's the governor's direction for us.
Keywords: 908, all
NM

New Mexico 2026 Regular Session

House - Appropriations and Finance Jan 21st, 2026 at 01:58 pm

House Appropriations & Finance

Transcript Highlights:
  • We increased the trust fund by 250,000. You're saying 26,000.
  • Someone who I trusted implicitly, just trusted to the max.
  • Chair, is what is the balance of the early childhood trust fund?
  • Health Trust Fund.
  • funds, behavioral health and a Medicaid trust fund.
Bills: SB2
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Children, Families and Persons with Disabilities Jun 21st, 2026 at 01:00 pm

Joint Committee on Children, Families and Persons with Disabilities

Transcript Highlights:
  • Has DPH lost any direct federal funds? We have.
  • I'm happy to say that DDS has very limited direct experience.
  • DDS has very limited direct exposure in terms of federal grants, which could have a direct impact on
  • The Children's Trust is not just a funder.
  • And they provide a lot of direct services to them.
Keywords: 995, all
Summary: The hearing was an informational and oversight session of the Joint Committee on Children, Families, and Persons with Disabilities, with chairs and members hearing agency updates from several commissioners. The Department of Public Health’s Bureau of Family Health and Nutrition described its maternal and child health work, including home visiting, early intervention, WIC, newborn hearing screening, and cross-agency efforts on prenatal substance exposure, respite care, children’s vision, and maternal health initiatives. DPH emphasized that federal grant cuts, layoffs, and the loss of data systems such as PRAMS would weaken services and planning, and members asked about Title V funding and the impact of federal uncertainty. The Massachusetts Commission on the Deaf and Hard of Hearing highlighted communication access services, interpreter and CART referrals, emergency after-hours support, family navigation, and independent living services. Commissioners and members discussed the shortage of ASL interpreters and the need to expand training pipelines, including partnerships with colleges and possible ASL programming for younger students. The Department of Developmental Services reported serving nearly 50,000 people and focused on youth and adult services, transition-age supports, autism services, self-direction, respite, and new high-acuity residential models. Members asked about respite availability, self-direction outcomes, and workforce shortages; DDS said it was expanding clinical capacity and provider rates while monitoring possible federal Medicaid, SNAP, and immigration-related impacts. The Commission for the Blind described services for about 28,000 legally blind residents, most of whom are older adults, including social rehabilitation, orientation and mobility training, children’s services, assistive technology, vocational rehabilitation, and Turning 22 supports. The commissioner discussed a UMass-based effort to build the workforce pipeline for blindness services and said the agency was watching federal restructuring but had not yet seen direct cuts. MassAbility’s leadership then warned about major federal changes affecting Social Security disability determinations, including staff restructuring, office closures, and a new overpayment repayment policy, and said the agency was preparing for possible increases in claims and uncertainty around reallotment dollars that help fund services. The Disabled Persons Protection Commission closed the hearing with an update on its abuse investigations and protective services for adults with disabilities. DPPC reported rising hotline calls and investigations, a growing caseload, its sexual assault response team, the abuser registry, and a new interagency protective services integration system funded by ARPA dollars through 2027. The agency also flagged new federal rules that could affect funding eligibility and said it may need statutory changes to comply. Members asked about funding, reporting pathways, and how complaints reach DPPC, and the commissioner said the agency uses both mandated reporting and proactive outreach to identify and respond to abuse.
ND

North Dakota 2026 1st Special Session

Water Topics Overview Committee Jun 10th, 2026

Water Topics Overview Committee

Transcript Highlights:
  • 20.5% into the Resources Trust Fund.
  • And discretionary, you had also directed us to fund our legislative directed studies out of discretionary
  • You had also directed us to transfer $40 million in cash from the Resources Trust Fund to repay the Water
  • Directed Studies out of discretionary.
  • You had also directed us to transfer $40 million in cash from the Resources Trust Fund to repay the water
Summary: The Water Topics Overview Committee met to review several interim studies and receive updates from the Department of Water Resources. The committee approved the March 26, 2026 minutes, observed a moment of silence for the late Representative Conmy, and welcomed Representative Hansen to the committee. Staff then reported that the watershed management study and the stormwater/wastewater study had both satisfied the presentation requirements in their study directives, with no further required testimony unless members wanted additional information. The department’s main presentation focused on major water projects and agency operations. Reese Haas and staff updated members on the NAWS project, the Southwest Pipeline Project, Devils Lake outlet operations, low-head dam safety work, floodplain management repository implementation, data center water use, and the 2027 Water Development Plan. Members asked detailed questions about NAWS funding sources, remaining project costs, capacity concerns for All Seasons and other users, and whether current construction is being designed for future demand. The department said NAWS remains on track for substantial completion by October, that remaining NAWS funding will come from a mix of federal, state, and local sources, and that current construction is designed for ultimate capacity while some future components will be adjusted for increased demand. A large portion of the meeting was devoted to the department’s cash management, Resources Trust Fund revenues, carryover balances, and the State Water Commission’s cost-share program. The department reported $340.6 million in carryover remaining, explained that much of it is already obligated to long-term projects, and noted that oil price forecasts and stripper-well exemptions will affect future revenues. Members raised concerns about large carryovers, affordability for local sponsors, and whether the state should continue obligating money multiple bienniums ahead. The department said it is working with the commission on a revised prioritization framework, including high/moderate/low project categories and a two-tier pre-construction/construction approach, to better manage obligations and affordability. The committee also reviewed Deloitte’s finalized studies on regional governance/finance and cost-share policy. Deloitte presented options for Southwest, NAWS, and Red River governance, with stakeholders generally favoring keeping NAWS largely as is, using the current Southwest model with improvements, and pursuing a more structured governance option for Red River. On cost share, the department said Deloitte’s recommended package would cover projected needs through the 2030s, but would require policy changes such as lower percentages for some project types, a 25% replacement-project rate with a cap, and possible bonding or delayed reimbursement strategies. No votes were taken on these policy questions, and the chair indicated the committee would continue the discussion at future basin meetings and the September Water Topics meeting.
MN

Minnesota 2025 1st Special Session

Committee on Environment, Climate and Legacy - 02/13/25

Environment, Climate, and Legacy

Transcript Highlights:
  • <00:02:26.800> fund resource natural resources trust fund resource natural resources trust
  • State agencies get awarded as direct State agencies get awarded as direct Appropriations<00:19:14.200
  • But it will not come out of this portion of the trust fund.
  • So LCCMR, Environment and Natural Resources Trust Fund, under the purview of LCCMR, has a direct and
  • for<00:25:03.640> the funds be direct and necessary for the funds be direct and necessary
Keywords: 1187, senate, all
CO

Colorado 2026 Regular Session

Colorado House 2026 Legislative Day 118 May 12th, 2026

Colorado House Floor Meeting

Transcript Highlights:
  • in the cancer trust, while more than 200 are not in the trust at all.
  • trust are not interchangeable.
  • The trust continues to add members. The Cancer Trust delivers fast, reliable...
  • Either way is why the trust was created. I mean... is why the trust was created.
  • Trust... Trust benefits kick in upon a firefighter's diagnosis.
Keywords: 981, all
MN

Minnesota 2025 1st Special Session

Senate Floor Session - 02/27/25

Minnesota Senate Floor Meeting

Transcript Highlights:
  • This bill will clarify the duties and responsibilities for different parties in directed trusts, which
  • Instead of relying on a single trustee, directed trusts allow multiple people with special expertise
  • a<00:18:28.360> new in directed trusts which was a new in directed trusts which was a new
  • <00:18:34.159> trusts<00:18:34.559> allow<00:18:34.880> multiple trustee directed
  • trusts allow multiple trustee directed trusts allow multiple people<00:18:35.679> with<00:18:
Keywords: 1187, senate, all
FL

Florida 2026 Regular Session

FL House Floor Session - 2025-06-16 (7:00PM Session)

Florida House Floor Meeting

Transcript Highlights:
  • Any charitable trust. So current law exempts testamentary trusts and private trusts.
  • We're merely adding charitable trusts to the menu of trusts that are exempt.
  • Charitable trust to the menu of trusts that are exempt. Representative Rayner for a follow-up.
  • trust to be included with the testamentary and private trust?
  • or private trust.
Summary: The House convened on the final day of session, observed a moment of silence for the Minnesota House Speaker Melissa Hortman and her husband, and for Representative Rosenwald’s father, then swore in and seated new members Boyles and Hodgers. The Speaker also outlined the chamber’s end-of-session priorities, including action on the budget and related conforming bills. The House then took up H.J.R. 5019, a constitutional amendment to expand Florida’s budget stabilization fund by raising the cap, requiring annual transfers, and allowing withdrawals for critical state needs. After sponsor explanations and questions about what would qualify as a critical need and how the fund might respond to possible federal funding cuts, the House adopted an amendment that added more flexibility for suspending transfers and withdrawals. The joint resolution then passed on final passage. Members next considered HB 7031, the tax package conference report. The bill repeals the business rent tax and aviation fuel tax, delays the natural gas fuel tax, creates or extends several sales tax exemptions and holidays, and makes changes affecting property taxes, local taxes, pari-mutuel taxes, and revenue distributions. Debate focused heavily on the new permanent exemption for ammunition and hunting-related items, the elimination of recurring housing trust fund and transit-related distributions, and the shift of some funding from recurring to nonrecurring status. Supporters argued the package provides tax relief and preserves annual budget flexibility, while opponents criticized the ammunition exemption and the reductions in recurring housing and transit support. The conference report was adopted and the bill passed. The House then passed HB 5017, which creates a debt reduction program funded by a recurring transfer from general revenue to retire state bonds early, and HB 5015, the state group insurance conforming bill, which directs DMS to develop a formulary management plan and codifies the administrative health insurance assessment. Finally, the chamber began explanation and questions on the General Appropriations Act conference report for fiscal year 2025-26, described as a $115.1 billion budget that is down from the current year and includes more than $12 billion in reserves. Subcommittee chairs summarized major budget areas, including K-12 education, health care, transportation and economic development, agriculture and natural resources, higher education, state administration, justice, and information technology, highlighting funding for school choice, Medicaid, housing, transportation infrastructure, Everglades restoration, workforce programs, cybersecurity, and technology modernization.