Video & Transcript Research : 'interest calculation'

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WA
Transcript Highlights:
  • DNR calculates separate calculations for eastern and western Washington because the forest conditions
  • Harvest calculation? And is this approach consistent with best practices?
  • It completes various steps along this process of calculating the harvest.
  • My question would be involved around the wildfires and the calculations.
  • And so you're looking at that and how they calculate it, right?
Summary: The Joint Legislative Audit and Review Committee met on September 17, 2025, in hybrid format. After roll call, the committee initially lacked a quorum and deferred approval of the July 15 minutes until Representative Berg arrived; the minutes were then adopted. Members also discussed the proposed 2026 JLARC meeting schedule, including possible changes to address crowded July meetings and the annual tax exemption review workload. Staff presented the annual lodging tax expenditures report, noting that 213 municipalities received distributions in 2024, with 91% reporting compliance, $114 million awarded for more than 1,700 activities, and no independent verification of the self-reported data. Several members questioned the value and usefulness of the report, and the executive committee indicated it may recommend removing the statutory reporting requirement. The committee then heard the preliminary performance audit of the Office of Privacy and Data Protection, which found the office meets its statutory responsibilities and has high user satisfaction, but recommended updating the statute to better match the office’s current capacity and focus and improving performance measures to reflect long-term privacy outcomes rather than outputs. Members asked about FERPA and other federal privacy laws, and OPDP staff said they provide general privacy training and consultation but not law-specific training unless requested. The committee adopted the final report on Washington State recreational boating programs without recommendation, after staff reported that boating revenues support both general government and boating activities and that no participating agencies submitted formal comments. Members asked about boater safety education and possible overlap among the six agencies involved; Parks staff said education has reached more than 500,000 boaters and that fatalities and incidents have declined. The committee also reviewed planned study questions for a JLARC review of Labor and Industries’ enforcement of farm worker laws, with members raising scope questions about the term “farm worker” versus “agricultural worker,” and for DNR’s Eastern Washington sustainable harvest calculation, which JLARC will review as DNR completes its recalculation. Finally, staff outlined the 2026 tax preference performance reviews covering seven preferences, and members asked about racial equity, environmental impacts, disclosure of beneficiary savings, and how the reviews will measure effectiveness; the meeting adjourned before noon.
AL

Alabama 2025 Regular Session

Alabama House Apr 22nd, 2025

Alabama House Floor Meeting

Transcript Highlights:
  • To me, I don't think that's in the best interest of the Alabama legislature.
  • So, I'd really be interested in continuing that conversation. Yeah.
  • Take immediate steps to protect an interest that is essential for the life or physical health of the
  • End up over time, we can have some conflicts of interest at some point in time.
  • When you have certain levels or certain interests, there's a process that you go through.
TX

Texas 89th Regular

89th Legislative Session Apr 22nd, 2025

Texas House Floor Meeting

Transcript Highlights:
  • of Texans, what is in the interest of everyone. we serve and I would like to take a moment to recognize
  • The agriculture program and the interest rate reduction Program.
  • Obviously I'm more interested in the impact on us here in Texas and that is covered, however.
  • Turner to explain the bill. protecting Texans with disabilities and preventing conflicts of interest.
  • such conflicts of interest, but they're not explicitly prohibited. this bill closes that loophole and
KY
Transcript Highlights:
  • introduce is the cash balance interest introduce is the cash balance interest credit<00:15:06.880
  • This is so interesting. >> Thank you, Bo. This is so interesting.
  • worry about but it is interesting. worry about but it is interesting.
  • We have strong interest earnings.
  • The same thing than interest.
Keywords: 958, all
Summary: The meeting opened with a quorum call, the Pledge of Allegiance, a prayer, and approval of the prior meeting minutes. The first presentation was from Bo Craycraft of the Judicial Form Retirement System, who gave an update on investment performance, asset allocation, cash flow, and projected employer costs. He reported strong fiscal year 2025 investment results, with both the legislative and judicial retirement plans outperforming their actuarial assumed rates of return and benchmarks, driven largely by U.S. equity performance. He also noted the plans remained near their target asset allocation and continued to experience negative cash flow, though he said that was manageable in context of strong asset growth. Craycraft then discussed a recent experience study and actuarial assumption changes, especially a revised salary growth assumption and a higher cash balance interest credit rate. He said these changes increased projected employer costs, with contributions rising from about $700,000 to a projected $2 million in later years, though he expected the eventual 2025 valuation and investment gains to reduce that estimate. Members asked about mortality assumptions, the impact of the experience study on liabilities, and the sharp increase in the judicial plan’s projected employer cost. Craycraft explained that the increase was driven mainly by the updated assumptions and that no other major plan changes were involved. At the chair’s request, Craycraft also addressed the recent rise in Medicare Advantage premiums for the plan’s health coverage, saying the 2025 increase was largely tied to Part D changes and the Inflation Reduction Act and had been about 45%, but that future growth was expected to be under 5%. After his presentation, the committee moved to the Kentucky Public Pensions Authority update, where the next speaker began by saying the funds had exceeded actuarial assumed returns for the fiscal year.
MN

Minnesota 2025-2026 Regular Session

Committee on Education Finance - 03/04/26

Education Finance

Transcript Highlights:
  • <00:33:21.120> in on distributions to only interest in on distributions to only interest in
  • I don't know what our interests are.
  • <00:42:50.000> net legal framework meaning calculating net legal framework meaning calculating
  • The SBI is interest in dividends.
  • c><01:08:46.719> rolling calculated on a three-year rolling calculated on a three-year rolling
Keywords: 1187, senate, all
NH

New Hampshire 2026 Regular Session

Senate Children and Family Law (03/19/2026)

Children and Family Law

Transcript Highlights:
  • <00:45:11.760> of while preserving the best interest of while preserving the best interest
  • interest, excuse me, best interest interest, excuse me, best interest framework.<00:53:31.200>
  • <00:58:26.400> standard in the best interest standard in the best interest standard at<00:
  • which would be used for the calculation which would be used for the calculation of<02:10:00.159>
  • So since the calculating alimony.
Keywords: 1191, senate, all
ND

North Dakota 2026 1st Special Session

Higher Education Funding Review Committee Mar 25th, 2026 at 09:00 am

Higher Education Funding Review Committee

Transcript Highlights:
  • So looking at 2017 through 2021 and calculated 28 graduate. 17 through 2021 and calculated 28 graduates
  • The calculation wouldn't have changed.
  • That's just a placeholder for calculations.
  • Let's make for an interesting afternoon.
  • That's a federally recognized way to calculate the FTE.
Keywords: 908, all
OK

Oklahoma 2026 Regular Session

Judiciary May 4th, 2026

Judiciary

Transcript Highlights:
  • Okay, I don't want to step on anybody else's interests, but I don't know.
  • Please identify yourself and what your interest is in this before you go into comments.
  • I don't want to go back to those days of doing the hand calculations.
  • So is there a calculation that can go online and say, okay, 20% goes to this, 15%?
  • So is there a calculation that can go online and say, okay, 20% goes to this, 15% comes from this?
Summary: The Senate Judiciary Committee met to conduct the statutorily required four-year review of Oklahoma’s child support guidelines, which DHS said had not been reviewed on schedule in recent years. Deputy Director Don Zellner of DHS Child Support Services presented data on the number of children served, child poverty, rising costs of raising a child, wage trends, and the volume of child support orders handled by DHS. He also explained how the current guidelines work, including income withholding, shared overnight deductions, daycare, medical, transportation, and self-employment adjustments, and noted that the guidelines are based on gross combined income and currently cap at $15,000 combined income. Committee members, especially Senator Boren, questioned whether the current model fairly reflects modern family economics, including the cost of housing, the impact of shared overnights, and whether visitation issues should be addressed alongside child support. DHS said the guidelines are over 25 years old, that other states generally use similar gross-income models with shared-overnight deductions, and that Oklahoma’s administrative courts have been more receptive than district courts to DHS’s lower-income deviation approach. Zellner said DHS has also updated its practices to better account for low-income obligors, including allowing zero orders in some cases and reducing imputed minimum-wage assumptions, which DHS said has improved collections. Members also asked about transparency and public access to the calculations. DHS said the formula and income chart are in statute, the calculator is available on the DHS website, and the Excel-based tool applies the statutory chart and deductions. A public commenter asked where parents could see how amounts are calculated, and DHS explained that the statutory chart and calculator are the main sources. The committee discussed possible future reforms, including higher income caps, possible changes to shared overnight rules, and whether extracurricular or special child-related expenses could be considered through judicial deviation. No vote was taken; the meeting ended with the chair noting it was the last Judiciary meeting of the 60th Legislature and adjourning the committee.
ND
Transcript Highlights:
  • But, um, the promotion fund is being calculated here.
  • This committee is pretty interested, so. It's okay.
  • , came back and said no calculation, no mill levies allowed.
  • There are some statutes that reference interest income.
  • There are some statutes that reference interest income.
Summary: The committee was called to order, the Pledge of Allegiance and prayer were offered, and the minutes from the previous meeting were approved. Members then received a memo summarizing major audit items and began hearing audit presentations from the State Auditor’s Office and private auditors on a range of state agencies and organizations. Several audits were reported as clean, including the Bank of North Dakota, the North Dakota Guaranteed Student Loan Program, the Office of the Governor, the Office of the State Treasurer, the Office of Management and Budget, the Department of Transportation’s flexible transportation fund, Lake Region State College, and the Department of Environmental Quality. The North Dakota Stockmen’s Association also received an unmodified opinion, though repeat findings were noted for limited segregation of duties and financial statement preparation due to its small staff. The Council on the Arts audit found two findings: payroll charged to federal awards without adequate timekeeping records, and unallowable expenditures from a restricted cultural endowment fund. The Department of Public Instruction audit identified unsupported scholarship applications in the paraprofessional-to-teacher program, though additional testing showed the funds were used for their intended purpose. The most extensive discussion centered on the North Dakota Racing Commission audit, which identified four findings: overspending the promotion fund’s 25% operating limit, grant conditions not being met, improper Breeders Fund awards, and improper procurement for advertising services. Racing Commission director Bruce Johnson acknowledged complacency and weak controls, said the agency would tighten procedures, and explained that the commission had since worked with procurement and would follow the rules more closely. Auditors also explained that the commission would now be audited every two years because of the findings. Another major discussion involved the University of North Dakota School of Law, where auditors found a lack of documentation supporting admissions decisions for post-baccalaureate programs. UND officials said they remain in good standing with the American Bar Association but agreed better documentation and tools are needed; the committee pressed for more transparency and follow-up on admissions criteria. The committee also received an update on Dakota College at Bottineau, where Minot State University reported that bank reconciliations had been brought current after a significant backlog and would now be maintained through shared services. Members requested a written follow-up report on the issues and corrective actions. Finally, the North Dakota Fair Association explained that its foundation has been dissolved and remaining funds were transferred to another nonprofit for continued support of the state fair, and the Department of Public Instruction provided an update on school meal debt, saying the reported amount was about $1.1 million from a partial district survey and that debt remains a local issue, though it could be revisited if school meal funding changes.
ND
Transcript Highlights:
  • That could be calculated. It's going to... Could be calculated.
  • interesting as well from my perspective.
  • But yes, we encounter some interesting scenarios.
  • It's just not taxable for that current mill levy calculation.
  • And I thought the most interesting slide... ...have been made.
Summary: The Tax Reform and Relief Advisory Committee met with a quorum, approved the March 17, 2026 minutes, and heard a lengthy update from Tax Commissioner Brian Croshys on property tax relief programs. He reviewed the Homestead Property Tax Credit, Disabled Veteran Credit, and Primary Residence Credit, noting increased relief after House Bill 1158 and House Bill 1176, but also discussing how some households “income adjust out” of eligibility over time. Members asked about indexing income thresholds, expanding eligibility by age alone, simplifying administration, county-level notices, and whether the county and state systems could be streamlined. Croshys said the programs are heavily used, largely administered at the county level, and that the department is still refining compliance and reporting; he also said there were no material findings or overarching concerns in the latest review. The committee agreed more detailed PRC information would likely come back in a September meeting, and the chair announced an afternoon recess for lunch before later reconvening. Shelly Myers then presented the statewide property tax increase report, the zero-growth report, and a statistical report on property values and tax levies by class. She explained how county auditors report levy and valuation data, how increases and decreases are counted, and identified counties and cities with the largest percentage changes in growth or decline. She also summarized recent trends: agricultural values remain relatively flat, while residential, commercial, and centrally assessed values have risen over the last five years; in 2025, residential property accounted for the largest share of statewide property tax levies, followed by commercial, agriculture, and centrally assessed property. Committee members asked about unusual zero-growth figures, the effect of annexation and land-use changes, and whether the 3% levy cap was forcing political subdivisions to use reserves or defer spending. Myers said many counties complied by using reserves, delaying capital projects, or limiting increases, and that some counties had not used their full cap. The committee then moved to the stripper oil extraction tax exemption. Commissioner Croshys reviewed the state’s oil tax structure and estimated the revenue impact of keeping stripper wells exempt from extraction tax while still paying production tax. He said the exemption saves operators hundreds of millions of dollars over a biennium, while the state still collects production tax on those wells. He also discussed projected impacts if the exemption were changed for future wells and noted that future outcomes depend on oil prices, production declines, and technology such as CO2 enhanced oil recovery. Nathan Anderson of the Department of Mineral Resources briefly explained the historical difference between the 35-barrel and 30-barrel thresholds for certain wells, citing differences in completion costs and lateral lengths. The committee then heard from EERC CEO Charles Gorecki, who presented an analysis of oil well life cycles and said most oil is produced before wells reach stripper status, but that refracturing or other reinvestment can significantly extend production and keep wells above the threshold for years.
TX

Texas 89th Regular

89th Legislative Session Apr 7th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • Generally, the minimum revenue calculation subject to the Texas Franchise Tax is for the Committee on
  • Generally, the minimum revenue calculation subject to the Texas Franchise Tax is for the Committee on
  • Generally, the minimum revenue calculation subject to the Texas Franchise Tax is for the Committee on
  • Generally, the minimum revenue calculation subject to the Texas Franchise Tax is for the Committee on
  • Generally, the minimum revenue calculation subject to the Texas Franchise Tax is for the Committee on
Keywords: 1184, house, all
ND
Transcript Highlights:
  • The calculation wouldn't have changed.
  • That's just a placeholder for calculations.
  • So what happens in this formula calculation we see here?
  • Let's make for an interesting afternoon.
  • That's a federally recognized way to calculate the FTE.
Summary: The Higher Ed Funding Committee met to review how North Dakota might identify and address low-producing academic programs and to discuss draft funding formulas for the university system. Lisa Johnson of the NDUS explained that the State Board of Higher Education is already developing a system-wide policy, using models from other states such as Texas, Virginia, North Carolina, Colorado, Kentucky, Ohio, and Connecticut. She described how low-producing programs are typically flagged by multi-year enrollment or completion thresholds, then reviewed for workforce demand, mission fit, cost, accreditation, and regional need before any action is taken. Committee members asked about what counts as a program, how costs are analyzed, whether certificates are included, how exemptions work for mission-critical or high-demand fields, and whether the board or legislature should set the rules. Johnson said the board is the appropriate body to lead the process, but legislators could use funding leverage if they wanted to encourage action; the chair asked the board to bring a detailed proposal to the June meeting. The committee then heard a Legislative Council presentation on a draft formula for UND and NDSU. The proposal uses fall census FTE enrollment, with a placeholder undergraduate rate of $7,000 per FTE and a graduate/professional rate of $10,500, plus incentives for completions in in-demand fields and research productivity. Alex from Legislative Council walked through the projected funding effects, noting that the model would increase funding for NDSU and reduce it for UND in the current biennium, with different results in the next biennium as enrollment changes are recognized. Members questioned the use of the placeholder rates, the definition of in-demand programs, the treatment of research funding, and the exclusion of state-appropriated dollars from the external grants calculation. The chair emphasized that the numbers were illustrative and that appropriators would set the actual dollar amounts later. A second draft formula for the other nine institutions was also reviewed. That model uses fall census FTE without a weighted economic factor, applies a higher undergraduate rate, and adds completion incentives for in-demand credentials and all other completions. Members noted that the formula would benefit some institutions, such as Bismarck State College, while reducing funding for others, such as Mayville State, and discussed whether the nine institutions should be treated more uniformly or split into smaller groups because of their different missions and sizes. Committee members and staff repeatedly stressed that the formulas are still being refined and that some institutions would likely need hold-harmless adjustments or other transition measures. The meeting ended with the chair directing the committee to continue the discussion later and to expect further work on both the low-producing program policy and the funding formulas.
ND
Transcript Highlights:
  • Any other interested parties want to speak to this issue?
  • It was kind of interesting because with the hospitals and the schools, It was kind of interesting because
  • Then 60% of the respondents used that adjusted-year calculation.
  • Just want to point your interest to the picture on the slide.
  • That was interesting. We put out the... That was interesting.
Keywords: 908, all
Summary: The committee met to continue its tax reform and relief study agenda, approved the December 3, 2025 minutes, and announced a new subcommittee to examine property tax statement issues with counties, auditors, and the tax office. Representative Headland was named chair, Senator Rummel vice chair, and Representatives Dressler and Dr. Dr. and Senator Patton were also assigned. The chair noted the group may need an additional meeting and thanked staff and attendees. A major portion of the meeting focused on economic development incentives. The Department of Commerce presented on the Renaissance Zone program and TIF districts, describing Renaissance Zones as locally tailored tools that combine local property tax relief with state income tax incentives. Commerce said the program has supported thousands of projects since 1999 and cited examples from Beach and Mandan showing increases in property and taxable value, business retention, housing, and downtown revitalization. Committee members raised concerns that smaller rural communities often lack the staff and expertise to apply, and Commerce said it provides outreach through conferences, office hours, and one-on-one assistance. League of Cities and local officials from Bismarck and Ellendale echoed the capacity issue, discussed how the programs have worked in their communities, and suggested possible reforms or more targeted support for small towns. Ellendale’s mayor also described two TIF districts, one for industrial infrastructure in Oaks and one for housing infrastructure tied to a data center project in Ellendale. The committee then turned to stripper oil taxation. The Tax Department gave a comparison of oil and gas tax structures in selected states, noting that most have some form of stripper or marginal well provision, while Alaska does not appear to have a specific stripper-well exemption. Members asked for more detail on definitions and North Dakota’s annual adjusted rate. The Department of Mineral Resources followed with a detailed presentation on North Dakota stripper wells, explaining the statutory thresholds, the 12-consecutive-month production test, and the fact that once a well qualifies it remains on stripper status even if production later rises. DMR said about 11,332 stripper wells are active, representing roughly 54% of wells and about 16% of state production, and emphasized that stripper status can extend well life, preserve tax revenue, and reduce orphaned wells. Committee members and industry witnesses discussed refracs, the economics of keeping marginal wells active, and the competitive disadvantage created by North Dakota’s oil price discount. No votes were taken on these informational items.
MN

Minnesota 2025-2026 Regular Session

Energy Committee Meeting - 2026-04-09

Energy Finance and Policy

Transcript Highlights:
  • <00:30:22.480> what 3 um they didn't actually calculate what 3 um they didn't actually calculate
  • Uh, that is a very interesting suggestion.
  • I thought it was really interesting, and this line of questioning has been interesting too.
  • <00:51:50.000> line<00:51:50.160> of really interesting and this line of really interesting
  • Um questioning has been interesting too.
Bills: HF4770
Summary: The committee approved the March 26 minutes and then took up House File 4770, as amended by an A1 technical amendment. The bill was presented as a proposal to help Liberty Diversified International and Liberty Paper in Becker plan for replacement steam and energy supply as the Shuro facility closure approaches in 2030. Testimony described Liberty Paper’s current closed-loop steam arrangement with Shuro, the need to study future fuel and technology options, and the potential use of anaerobic digestion, biomass, construction and demolition waste, and food waste to produce steam and possibly power. Members asked about feedstock availability, the need for a feasibility study, possible backup natural gas use, and whether waste heat or wastewater heat could be useful. The bill was laid over as amended. The committee then heard a presentation from CenterPoint Energy on Minnesota heating demand and electrification. CenterPoint staff said affordability and reliability are central concerns and outlined how the utility manages customer costs through energy efficiency, contracting, storage, peak shaving, and conservation. Dr. Joel Lynch presented research on peak heating with natural gas and the “missing piece” in Minnesota’s electrification puzzle, explaining that Minnesota’s cold climate makes winter heating demand especially challenging and that replacing natural gas would require substantial new electric capacity and renewable resources. He compared his work with prior national and state studies and said the analysis used Minnesota-specific gas throughput, COP assumptions across several electrification scenarios, and January renewable capacity data. Lynch summarized preliminary findings that Minnesota’s peak gas heating throughput could be up to 40 gigawatts, with electric resistance heating implying roughly 36 gigawatts of new demand, and lower but still substantial demand under heat-pump scenarios. The presentation was informational only; no vote was taken on the CenterPoint presentation. The meeting ended with House File 4770 laid over and the energy demand presentation continuing.
AL
Transcript Highlights:
  • Uh like interest rate reductions.
  • That was calculated based on 2024 error rates, and we get to calculate it based on 2025 or 2026.
  • about the interest on state deposits. about the interest on state deposits.
  • interest on that. interest on that.
  • calculate it for that period of time. calculate it for that period of time.
Keywords: 924, joint, all
MN
Transcript Highlights:
  • Senator showing some interest in that. Senator showing some interest in that.
  • calculation is the same between the two. calculation is the same between the two.
  • So we have a calculation.
  • So we we have a calculating this.
  • <01:59:54.639> Pavement in this calculation. Pavement in this calculation.
Keywords: 1187, senate, all
WY

Wyoming 2026 Regular Session

House Education Committee, February 27, 2026

Education

Transcript Highlights:
  • In the interest up for public testimony.
  • <00:15:51.440> So<00:15:51.839> it's calculated by our consultants.
  • So it's calculated by our consultants.
  • <00:39:03.359> then that manner uh and the the interest then that manner uh and the the interest
  • ,<01:10:41.520> um, elective teachers are calculated, um, elective teachers are calculated
Bills: HB0159
NH

New Hampshire 2025 Regular Session

House Labor, Industrial and Rehabilitative Services (04/22/2025)

Labor, Industrial and Rehabilitative Services

Transcript Highlights:
  • It because they're calculated the same.
  • <00:40:43.200> You Um, it would be interesting. You Um, it would be interesting.
  • <00:56:12.799> average basis and your uh calculated average basis and your uh calculated average
  • If we get out to um making calculated.
  • that benefit differently or calculate that benefit differently or calculate<01:12:02.640> a<01
Keywords: 1189, house, all
FL

Florida 2025 Regular Session

December 2, 2025 - 08:30 AM

Transcript Highlights:
  • In the interest of not only public safety but public health, in the interest of mental health, like what
  • was mentioned earlier, In the interest of not only public safety but public health, in the interest
  • Antone who asked about how... ...calculate it. And when I think it was Rep.
  • So. ...to me that you can calculate lost wages for an unborn fetus.
  • Amongst what this bill does not change is how loss of earnings are calculated.
Summary: The committee first heard HB 133, which would lower the minimum age to purchase a long gun from 21 to 18. The sponsor said the bill restores the rights of law-abiding 18-year-olds. Public testimony was sharply divided, with supporters from Gun Owners of America and Florida Carry arguing that adults 18 and older should have equal Second Amendment rights and that current law is inconsistent with other adult responsibilities, while opponents, including gun violence prevention advocates, students, parents, and Parkland-related speakers, said the bill would reverse a post-Parkland safety measure and increase risks of suicide, accidental shootings, and school violence. Several members debated the bill, with opponents emphasizing Parkland, the Florida State shooting, and public polling showing broad opposition; supporters stressed parental responsibility, mental health, and constitutional rights. HB 133 was then reported favorably on a roll call vote of 13 yeas, with several members voting no. The committee then took up CS/HB 289, which would revise Florida’s wrongful death law to allow parents to recover damages for the death of an unborn child. The sponsor said the bill is intended to let grieving parents seek civil remedies, and members questioned how it would apply in situations involving surrogacy, rape, ectopic pregnancy, medical care, and damages calculations. The sponsor said the bill would not allow suits against the mother, would not apply to lawful non-negligent medical care, and would be handled through ordinary wrongful death damage proof before a jury. Public testimony was again split: supporters from pro-life and faith groups said the bill recognizes unborn children and aligns Florida with many other states, while opponents from civil liberties, reproductive rights, and advocacy groups warned it could be used to target abortion providers, helpers, and even families or businesses in miscarriage-related cases, and could be weaponized by abusive partners. The transcript ends during testimony on HB 289, with no final vote shown in the excerpt.
NH

New Hampshire 2026 Regular Session

House Finance Division I (02/09/2026)

Transcript Highlights:
  • So, um, calculation for the state.
  • It's just part of that calculation.
  • It's just part of that calculation.
  • It's just part of that calculation.
  • It's just part of that calculation.
Keywords: 928, house, all
Summary: The committee first heard testimony on House Bill 1042, which would increase the BFA contingent credit limit. State Treasurer Monica Misipelli explained that under RSA 66, state debt capacity is tied to unrestricted revenue and that guaranteed debt counts in the calculation even though it is contingent rather than direct debt. She said the state currently has about 4.2% to 4.3% debt-to-revenue ratio, about $120 million in additional capacity, and that approving the bill’s proposed increase would reduce available capacity for future state borrowing, including capital budgets. She noted the BFA has a long history of using guarantees without a state payout, but said the legislature should consider whether the full additional $250 million is needed and whether unused guarantee authorizations, such as one for the Pease Development Authority, should be reviewed in the future. Committee members asked whether guarantees have the same effect as actual debt for bonding capacity, and the treasurer confirmed that they do for purposes of the formula. Members also asked about the usual level of debt relative to the statutory 10% cap, and she said the state generally stays well below that limit. BFA Executive Director James Key Wallace then testified that the request was driven by rising project costs, inflation, and the need for more runway so the agency does not have to return to the legislature in an emergency. He said the BFA is self-supported, has never had a guarantee paid out by the state, requires collateral and reserves, and believes the appropriate range is closer to $400 million to $450 million; he also said a Senate bill would raise the limit to $400 million. He added that the BFA’s pipeline includes projects from about $15 million to $100 million and that housing availability is an important factor in business location decisions. After closing the work session on House Bill 1042, the committee opened House Bill 241, a bill on health insurance coverage for pain management services for chronic pain. Representative Dave Nagel, the prime sponsor, gave extensive background on his long career in pain medicine and said the bill is intended to improve access to non-opioid therapies and evidence-based pain management. He described the broad population affected by chronic pain and opioid use disorder, and said the proposal has long had bipartisan and stakeholder support. No vote or final action was taken on House Bill 241 in the portion of the meeting provided.