Transcript Highlights:

• community banks rely on to make loans, and community banks do an outsized share of small business lending
• Once a dollar leaves for a stablecoin issuer, that is a dollar that a Texas community bank cannot lend
• To the small businesses and employers whose growth and payrolls depend on local lending, the scale is
• In closing, blockchain technology is here, and the deposits that fund Texas businesses and lending that
• Deposit in bank, therefore y'all can't continue to grow and lend to the extent that you once could.

Committee: Senate Business & Commerce

Transcript Highlights:

• or the requests come from either DOT or our partners in support of that mission, please give us and lend
• or the requests come from either DOT or our partners in support of that mission, please give us and lend

Summary: The Louisiana Advanced Aviation and Drones Advisory Committee met with a quorum and opened by noting that, under current law, the committee will sunset after the 2026 regular session unless legislation is passed to reconstitute it. Members discussed the need for a smaller, more workable committee structure in the future so quorum requirements would be easier to meet, and they added an agenda item to consider reconstitution and another for a legislative briefing. The June 2025 minutes were approved. Subcommittee reports focused heavily on counter-drone policy and advanced air mobility. Mr. Muley described the new counter-UAS effort, referred to as the “Let’s Go Act,” which would create a joint task force of state police, sheriffs, and municipal police chiefs to develop training standards and equipment standards for counter-drone operations. Members also discussed federal developments in the NDAA and DOJ’s role in authorizing mitigation capabilities for states with laws and training plans. Public safety members reported that training on recently enacted drone laws is underway in north Louisiana. The committee also heard a major update from Josh Deplanis, newly named Louisiana’s first advanced aeronautics director. He outlined Louisiana’s selection for the FAA’s Electric Vertical Takeoff and Landing/Advanced Air Mobility Integration Pilot Program, branded “Lift Off Louisiana,” and described plans for real-world operations beginning as early as August, centered on Houma-Terrebonne Airport. He also reviewed the state’s broader advanced air mobility strategic plan, including vertiport readiness, charging infrastructure, logistics, workforce training, and community engagement. Members emphasized Louisiana’s opportunity to influence FAA policy and international airspace issues related to operations over the Gulf and beyond 12 nautical miles. In final action, the committee adopted a resolution supporting reconstitution of LADAC, with revised proposed membership language reducing the committee from 15 members to 11 and setting a simple majority of six for quorum, with new appointments effective July 1, 2027. No public testimony was offered, and the meeting adjourned after the motion passed.

Transcript Highlights:

• And I know some of the amendments may lend to that, but how do you...
• And I know some of the amendments may lend to that.

Summary: The Senate Committee on Privacy, Digital Technologies, and Consumer Protection heard three bills. AB 412, the AI Copyright Transparency Act, would require generative AI developers to let copyright holders know whether their works were used in training. The author said the bill was narrowed by amendments to remove prescriptive technical language and focus on transparency rather than compensation or training restrictions. Supporters included voice actors, artists, labor groups, and technical experts who argued creators need a way to know if their work was used. Opponents, including business and tech groups, argued the bill was premature given unsettled copyright law and raised concerns about technical feasibility, scale, and ownership identification. After discussion, the committee passed AB 412 on a 6-2 vote and sent it to Judiciary. AB 2448 would require electronic health record vendors to enable technical safeguards so providers can better segregate sensitive reproductive and gender-affirming care information. The author and supporters, including Planned Parenthood, the Attorney General’s office, medical groups, and privacy advocates, said the bill builds on existing California privacy law and helps protect patients from misuse of sensitive health data. There was no opposition testimony. The committee passed AB 2448 on a 7-1 vote and sent it to Health. AB 2561 would prohibit changes to consumers’ preferred privacy settings without their consent, aiming to prevent apps and software from resetting privacy choices after updates. The author said the bill would reduce the burden on users and strengthen privacy protections. CalChamber and TechNet said they had moved from opposition to support after amendments were taken. The committee passed AB 2561 unanimously, 8-0, and adjourned after the final vote.

Transcript Highlights:

• And I know some of the amendments may lend to that, but how do you...
• And I know some of the amendments may lend to that, but how do you feel that this would be a bit easier

Committee: Senate Privacy, Digital Technologies, and Consumer Protection

Transcript Highlights:

• But that's the kind of stuff where we're talking about predatory lending.
• Predatory lending. We're not really talking about predatory solar people going around out there.

Committees: House Agriculture , House Agriculture, Food Production and Outdoor Resources

Transcript Highlights:

• prioritizes the public good by financing affordable housing, building decarbonization, home-hardening, and lending
• It's framed as a commission to rearrange the state's banking and lending functions.

Summary: The Assembly Committee on Economic Development, Growth, and Household Impact heard several bills focused on trade, affordability, and public finance. AB 2745 (Fong) would update California’s international trade and investment strategy, add a public advisory process, and allow regional trade hubs; supporters from the California Asian Pacific Chamber of Commerce and California Forward said it would help California compete globally and attract investment, while no opposition testified. AB 2366 (Avila Farías) would require state agencies to analyze cost-of-living impacts when adopting regulations and direct the LAO to develop guidance; supporters from the New California Coalition and the California Manufacturers and Technology Association argued it would improve transparency and help address affordability, while members noted concerns about implementation and unintended consequences. The committee also heard AB 2243 (Haney), which creates a commission to study whether California should establish a state public bank and how it might be structured. Supporters from the California Public Banking Alliance, climate groups, and other organizations said a public bank could reduce borrowing costs and finance housing, climate, and small business needs; the California Bankers Association and credit unions opposed the bill, arguing it could compete with private banks, duplicate prior studies, and raise unresolved regulatory and cost issues. Several committee members said they would support the study concept but wanted the bill amended so any final decision would return to the Legislature, and the author agreed to clarify that point and remove language related to extending local public bank licensing timelines. The committee also took up consent items AB 2048 (Calderon), AB 2583 (Hoover), and ACR 129 (Haney), which were approved without opposition. After quorum was established, the committee voted AB 2366 out on a 7-0 basis to Judiciary, AB 2745 out on a 7-0 basis to Appropriations, and AB 2243 out on a 7-0 basis to Finance, with the consent calendar also approved.

Transcript Highlights:

• I'm also on the faculty of the LEND program at Boston Children's Hospital.
• LEND stands for leadership, education, and neurodevelopmental-related disabilities, and I'm a self-advocate

Summary: The Disability Employment Subcommittee met with roll call, approved prior meeting minutes, and began with an inspirational quote from Jane Goodall about every individual mattering and making a difference. Members introduced themselves and described their roles in disability services, workforce policy, accessibility, and advocacy. The committee then welcomed Katia Alpanis and Dina Klumkina from the State Exchange on Employment and Disability (SEED), who explained that SEED provides technical assistance, research, peer-state examples, and policy support to help states improve disability employment outcomes. SEED presented seven broad policy areas where states are active: career readiness and work-based learning, behavioral health supports, stay-at-work/return-to-work programs, employer recruitment and accommodation supports, entrepreneurship and disability-owned business development, interagency coordination, and state-as-model-employer initiatives. They shared examples from other states, including scholarship and transition policies, peer support training, accommodation funds, procurement goals, and state hiring strategies. Members asked about SEED’s role in Massachusetts, digital accessibility, and the status of PEAT; SEED said PEAT has been refunded and that SEED’s role is policy-focused rather than implementation-focused, though it can connect Massachusetts with peer states and examples. The discussion then narrowed to two possible Massachusetts projects: developing a state-as-model-employer roadmap and creating a youth/young-adult employment and volunteer pipeline, especially for transition-age individuals. Members noted related state efforts, including the governor’s executive order reestablishing a disability policy subcommittee, the commission’s Meeting the Moment series, and the need to help people navigate upcoming work requirements and transition cliffs. SEED agreed to follow up with a questionnaire and draft briefs on Massachusetts analysis, career readiness, and state-as-model-employer policies, and the group planned an offline follow-up to define priorities and scope.

Transcript Highlights:

• Freeman, for lending your time. Members, please join me in welcoming Dr. Freeman to the chamber.
• need to trust our partners in municipal government to help address this affordability crisis. ...to lend

Bills: SCR8 , SCR24 , SCR25 , SB1 , SB65 , SB315 , SB371 , SB372 , SB379 , SB400 , SB402 , SB406 , SB427 , SB487 , SB502 , SB509 , SB535 , SB610 , SB707 , SB740 , SB761 , SB840 , SB875 , SB893 , SB918 , SB925 , SB965 , SB987 , SB990 , SB995 , SB1006 , SB1018 , SB1073 , SB1106 , SB1121 , SB1194 , SB1253 , SB1300 , SB1343 , SB1362 , SB1379 , SB1447 , SB1532 , SB1555 , SJR36 , SJR12 , SJR57 , SCR25 , SCR22 , SCR12 , SCR24 , SCR8 , SB565 , SB372 , SB765 , SB62 , SB666 , SB707 , SB888 , SB687 , SB847 , SB1248 , SB740 , SB14 , SB1006 , SB504 , SB925 , SB1121 , SB995 , SB857 , SB305 , SB296 , SB284 , SB815 , SB1379 , SB1300 , SB1497 , SB1499 , SB1498 , SB65 , SB241 , SB304 , SB402 , SB621 , SB1023 , SB1024 , SB1106 , SB686 , SB112 , SB371 , SB204 , SB400 , SB609 , SB1447 , SB670 , SB502 , SB427 , SB850 , SB854 , SB413 , SB1555 , SB1362 , SB1346 , SB1033 , SB1220 , SB1073 , SB810 , SB987 , SB1539 , SB893 , SB447 , SB875 , SB406 , SB509 , SB985 , SB965 , SB1119 , SB1505 , SB24 , SB1194 , SB1253 , SB1215 , SB1532 , SB1302 , SB856 , SB650 , SB583 , SB673 , SB840 , SB213 , SB681 , SB1172 , SB1252 , SB378 , SB610 , SB918 , SB1343 , SB608 , SB487 , SB955 , SB957 , SB988 , SB990 , SB1019 , SB1021 , SB1120 , SB251 , SB958 , SB535 , SB761 , SB1 , SB541 , SB315 , SB379 , SB1018 , SB1737 , SB266 , SB1415 , SB1527 , SB125 , SB599 , SB1330 , SB53 , SB916 , SB896 , SB1352 , SB973 , SB785 , SB710 , SB472 , SB1450 , SB1502 , SB1566 , SB414 , SB1062 , SB1547 , SB961 , SB1038 , SB513 , SB578 , SB711 , SB746 , SB942 , SB1404 , SB1448 , SB1738 , SB108 , SB8 , SB318 , SB507 , SB533 , SB689 , SB1026 , SB1349 , SB1355 , SB1433 , SB1434 , SB1596 , SB1403 , SB1198 , SB1146 , SB763 , SB667

Transcript Highlights:

• to really look at test scores, reading scores, et cetera, for kids in certain grades, and what that lends
• What does that lend to for later?
• all of these aspects of our state education, workforce development, criminal justice, in a way that lends
• And it just, I think it lends itself to this one snapshot of a student when a student and a person goes
• And it just, I think it lends itself to this one snapshot of a student when a student and a person goes

Committee: House Education

Summary: The committee first heard HB 690 by Rep. Amedee, which would prohibit education agencies and vendors from contracting with foreign adversaries, foreign terrorist organizations, or their agents, and would apply to education service providers, vendors of educational products, and some schools. Supporters argued the bill would protect school tax dollars and prevent foreign influence, especially from the Chinese Communist Party, citing similar actions in Florida and Texas. Some members raised questions about due process, how ineligibility would be determined, and whether payments would stop before appeals were resolved. A technical amendment changing “terrorists” to “terrorist” was adopted, and HB 690 was reported as amended without objection. The committee then took up HB 1078 by Rep. Freiberg, which would allow higher education institutions to offer standalone online courses, not just online programs tied to a degree, and to offer online programs even when there is no equivalent on-campus program. LSU officials said the bill would give flexibility for professional and workforce-related courses and certificates. Members asked about tuition-setting, prerequisites, and whether non-degree students could enroll. The bill was reported favorably without objection. HB 113 by Rep. Phelps, which sought retroactive application of the uniform 10-point grading scale to students who were ninth graders in 2023-2024, drew significant concern. Members questioned fairness, inconsistency if only some districts could recalculate grades, and the fiscal impact of retroactivity. Phelps said he had intended to capture that cohort and was willing to work with the Department of Education, but after debate the committee voted 2-9 against reporting the bill, so the motion failed. The committee also heard HB 632 by Rep. Spell on LA FIRST data sharing. The bill would streamline how student data is shared for the state’s longitudinal data system, and amendments were adopted to remove a five-year look-back and clarify data matching and de-identification. Members debated privacy, opt-out rights, and whether the bill should require or merely allow districts to participate; concerns were raised about sharing personally identifying information and the lack of clear opt-out protections. Rep. Carlson offered an amendment to change “shall” to “may,” but later withdrew it so the bill could be deferred for further discussion. Finally, HB 1132 by Rep. Carver, carried by Rep. Carlson, was introduced to expand lab school authorization within the University of Louisiana system; an amendment was offered to limit the change to new schools established after August 1, and discussion began on that amendment as the transcript ended.

Transcript Highlights:

• to really look at test scores, reading scores, et cetera, for kids in certain grades, and what that lends
• What does that lend to for later?
• all of these aspects of our state education, workforce development, criminal justice, in a way that lends
• all of these aspects of our state education, workforce development, criminal justice, in a way that lends
• And it just, I think it lends itself to this one snapshot of a student when a student and a person goes

Bills: HB113 , HB342 , HB632 , HB690 , HB1003 , HB1078 , HB1132 , HB1146

Committee: House Education

Keywords: grading scale, education reform, students, public schools, academic policy, data sharing, student information, privacy, education, LA FIRST, foreign adversaries, terrorism, contracting, school funding, overcapacity, school board, charter schools, education policy, local superintendent, tuition

Transcript Highlights:

• I just wanted to add in that section, which lends further support to this bill, and we ask the committee
• I just wanted to add in that section, which lends further support to this bill, and we ask the committee
• 00:32:54.519><c> that</c><00:32:54.760><c> section</c><00:32:55.240><c> which</c><00:32:55.480><c> lends
• </c> to add in that section which lends to add in that section which lends further<00:32:56.320><c> support

Committee: Senate Labor and Technology

Summary: The joint hearing covered Senate Bills 470, 828, 730, and 1383. SB 470 would create a deferred retirement option program for police officers. The Employees Retirement System warned it could worsen the system’s $14.1 billion unfunded liability by stopping employer and employee contributions during the DROP period, and the Attorney General raised possible tax-qualified status, Internal Revenue Code, and age-discrimination concerns. Police and other supporters testified in favor, but the committees ultimately recommended deferring the bill indefinitely. SB 828 would expand workers’ compensation medical benefits for firefighters to cover an additional respiratory condition. The Department of Labor and Industrial Relations and the Hawaii Firefighters Association supported the measure, citing occupational exposure and health risks. The committees recommended passage with amendments, and the motion was adopted by both committees. SB 730, which concerns allowance on service retirements, drew support from the Department of Human Resources Development and the Department of Law Enforcement, but also comments from the Attorney General and ERS. DHRD said the bill could help recruitment and retention but requested more time to work on language with ERS, Budget and Finance, and the AG’s office. The committees postponed decision-making until Friday, February 7, at 3:15 p.m. in Conference Room 225. SB 1383, relating to fire protection, received broad support from the Governor’s office, Department of Defense, DLNR, Hawaiian Electric, and others. The committees agreed to pass it with amendments, including language suggested by the Hawaii Insurance Council on wildfire-related insurance issues and a committee report link to the Lina fire forward-looking report, phase three. The amended recommendation was adopted by both committees. Later in the meeting, the committees also heard SB 1360 and SB 1361 on ERS administrative and reporting matters, SB 340 on HLRB enforcement authority, and SB 997 on energy; SB 1360 and SB 1361 were presented as housekeeping measures, SB 340 drew disagreement between the Attorney General and HLRB over enforcement authority, and SB 997 was amended to incorporate prevailing-wage renewable energy rate language from SB 743 and then passed with amendments.

Transcript Highlights:

• July of 2023, we have supported 50 businesses through technical assistance, workshops, and direct lending
• , micro-lending, over $1.1 million, while leveraging over $6 million in private funds, grants, and owner
• These loans are called revolving loan funds, and so that is the point: we lend out to the community,
• 12:50.279><c> traditional</c> otherwise qualify for traditional otherwise qualify for traditional lending
• post loan once they are approved lending post loan once they are approved and<00:12:54.079><c> we</c

Bills: HF110 , HF111 , HF263 , HF105

Committee: House Workforce, Labor, and Economic Development Finance and Policy

Keywords: HF110, Adrian Independent School District, Independent School District No. 511, school construction, sales tax exemption, use tax refund, refundable exemption, construction materials, capital improvements, school roofing, playground remodel, retaining walls, plumbing, bathroom remodel, locker room remodel, window replacements, local tax relief, general fund appropriation, Minnesota chapter 297A, retroactive tax refund

Transcript Highlights:

• you know, if that one backing is in a demand deposit account at a financial institution, uh, we can lend
• you know, if that one backing is in a demand deposit account at a financial institution, uh, we can lend
• If that one backing is in a demand deposit account at a financial institution, uh, we can lend those
• </c><01:53:14.560><c> Custodia</c><01:53:15.199><c> bank</c> lend out any assets there.
• Custodia bank lend out any assets there.

Summary: The commission met on November 12 and first approved the September 17 and October 15 draft minutes unanimously after brief discussion. Members also identified themselves for the record, including a new member from Bumpsk Bank, a staff attorney from the Secretary of State’s Bureau of Securities Regulation, a prior crypto commission participant, and a uniform law commissioner involved in tokenization projects. The main presentation was by UNH law professor Seth Orinberg, who discussed the federal GENIUS Act and the pending Clarity Act and how they affect New Hampshire’s options in the digital asset space. He described the GENIUS Act as governing payment stablecoins/stable tokens, defining them as blockchain-based assets used primarily for payments, redeemable for a fixed amount of national currency, and required to maintain stable value. He said the law creates three possible state roles: hosting federally qualified issuers, becoming a state qualifier for issuers up to a $10 billion threshold, or exploring state-backed issuance as a sovereign. He noted that the state-qualification path would require conforming legislation, examination capacity, and coordination with Treasury, while the sovereign-issuer theory is legally uncertain and may become a test case. Orinberg also outlined the core compliance framework he said applies to covered issuers: 100% reserve backing in high-quality liquid assets, monthly public reserve reporting, no yield or interest-like rewards, segregation of reserve assets, immediate redemption at face value, and anti-money-laundering/know-your-customer obligations. He then turned to the Clarity Act, describing it as a broader market-structure bill that would create categories such as digital asset, digital commodity, digital security, and ancillary asset, with self-certification procedures for issuers. He said the two federal laws together would separate payments from investments, preempt inconsistent state standards for covered payment stablecoins, and likely reshape the boundaries of state authority over digital assets.

Transcript Highlights:

• Decentralized finance applications seek to recreate traditional financial services, like lending, borrowing
• reserves must include Treasuries, it creates new demand for U.S. debt, reinforcing dollar dominance and lending
• a lot of varying types of very complex, but relatively easy to use smart contracts, which enable lending

Summary: The Assembly Banking and Finance Committee held an informational hearing on digital asset innovation, with opening remarks framing cryptocurrencies, blockchain, stablecoins, tokenization, and decentralized finance as a growing part of the financial system. Dennis Porter of Satoshi Action Fund presented on the market size, institutional adoption, use cases such as remittances and small-business payments, and policy developments at the federal and state levels. He also discussed risks including volatility, cybersecurity, and illicit use, while arguing that clear regulation can support innovation and consumer protection. State Controller Malia Cohen then updated the committee on implementation of SB 822, California’s unclaimed digital asset law. She explained that the law applies to custodial accounts, not self-custodied wallets, and requires holders to conduct outreach before dormant digital assets are transferred to the state in native form. Committee discussion focused on how abandonment is determined, what counts as account activity, the expected timeline for notices and custodian procurement, and the administrative costs and staffing needed to run the program. Controller staff said the state is still building procedures, working with Oregon, and expects a significant increase in claims once the program is operational. Porter returned with a proposal for a California digital asset reserve fund built on unclaimed digital assets under SB 822. He argued the fund could be cost-neutral, use only high-quality digital assets, and include guardrails such as an advisory board, audits, and public reporting. Committee members expressed interest in diversification and consumer protection, but also raised concerns about volatility, documentation, and market downturns. The hearing ended after public comment from industry and advocacy representatives, including support from the California Blockchain Advocacy Coalition, the Crypto Council for Innovation, and Coinbase, all urging clear, technology-neutral policy to keep innovation and jobs in California.

Transcript Highlights:

• Decentralized finance applications seek to recreate traditional financial services, like lending, borrowing
• reserves must include Treasuries, it creates new demand for U.S. debt, reinforcing dollar dominance and lending
• a lot of varying types of very complex, but relatively easy to use smart contracts, which enable lending

Committee: House Banking and Finance

Transcript Highlights:

• I'd even just for lending about an introduction to a I USF education is designed to future-proof students
• We provide a commitment in providing expedience in lending changing from intense 8 Corp opportunities
• Psychology and I have sipping had lending expedience and future KTM stressed. >> Thank you, Martino.

Transcript Highlights:

• Additionally, they help community-based financial institutions to increase their lending by injecting
• Additionally, they help community-based financial institutions to increase their lending by injecting
• “And I think Andrea had this in her earlier presentation around soft lending and how to make it easier

Committee: House Technology, Economic Development, & Veterans

Summary: The committee held a work session focused on the effects of tariffs on Washington’s economy and agriculture. An OFM economist said tariffs are raising prices, reducing output and jobs, and lowering state revenue, with the most affected sectors including aerospace, food and beverage manufacturing, and agriculture. Members asked about newer trade deals, crop-specific impacts, inflation versus some deflationary effects in fuel, and whether the net employment effect was negative; the witness said retaliation by other countries largely eliminates any tariff benefits and that updated analysis would be needed as tariff rates change. Washington Department of Agriculture staff then described how import tariffs raise costs for farm inputs such as equipment, parts, packaging, and fertilizer, while export retaliation has hurt key markets, especially China and, in some sectors, Canada. They said Washington agriculture is highly export-dependent, with major exports including wheat, potatoes, apples, cherries, dairy, and wine, and noted that some growers support tariffs on competing imports because they see them as leveling the playing field. Commerce officials followed with an overview of small business export assistance, financing, business recruitment, and industry-sector support, emphasizing the importance of federal STEP funding, foreign consulting networks, and state efforts to attract investment and help businesses adapt to tariff pressures. The committee then heard a series of emergency management updates. The Military Department described 2025 disaster response, including the denied bomb cyclone disaster declaration, wildfire activity, and concerns that FEMA is shifting more responsibility and cost to states and locals, with possible reductions or restructuring of preparedness, mitigation, and disaster grants. Members discussed the need for a funded state disaster assistance framework, mitigation priorities such as unreinforced masonry and tsunami shelters, and language-access support. A cybersecurity briefing followed, outlining the state’s advisory committee, grant program, and plans for a volunteer cyber incident response team, with concerns about the loss of MS-ISAC funding and the need to preserve state matching funds. Finally, emergency management staff reviewed disaster resilience and tsunami preparedness, saying federal support is becoming less reliable while state programs face budget pressure. They highlighted mitigation grants, outreach, and planning work, including tsunami vertical evacuation structures and coastal evacuation mapping, and said Washington’s tsunami program depends heavily on NOAA and FEMA funding. The session concluded with a detailed update on World Cup and counter-drone planning, including federal security grants, fan zones, base camps, and the need for authority to mitigate unmanned aerial systems; members asked how local jurisdictions would participate and what mitigation tools might be used. No formal votes or legislative actions were taken.

Transcript Highlights:

• Additionally, they help community-based financial institutions to increase their lending by injecting
• Additionally, they help community-based financial institutions to increase their lending by injecting
• And I think Andrea had this in her earlier presentation around soft lending and how to make it easier

Summary: The committee held a work session focused on the effects of tariffs on Washington’s economy, agriculture, and small businesses, followed by updates on emergency management, cybersecurity, disaster resilience, tsunami preparedness, and World Cup security planning. Office of Financial Management economist Abdelamintrawe Trieri said tariff increases are expected to raise prices, reduce output and employment, and lower state revenue over a four-year horizon, with the hardest-hit sectors including aerospace, food and beverage manufacturing, and agriculture. Members asked about updated tariff scenarios, crop-specific impacts, inflation versus deflation in different goods, and whether some manufacturing sectors could benefit; staff said updated numbers would need to be rerun as tariff rates changed. Washington Department of Agriculture representative Ryan Hamm described how tariffs raise costs for farm inputs such as equipment, parts, packaging, and fertilizer, while also affecting exports of key commodities like wheat, potatoes, apples, cherries, dairy, and wine. He said some sectors support tariffs on competing imports, but retaliation and market restrictions have hurt exports, especially to China and, in the wine sector, Canada. Department of Commerce representative Andrea Chartock outlined export assistance, business finance, recruitment, and industry-sector development programs, and proposed expanding tariff-resilience support through market diversification, supply-chain optimization, and efforts to attract investment and federal funding. She also noted uncertainty around delayed federal STEP funding for small business export assistance. Emergency Management Division Director Robert Ezell warned that federal disaster and mitigation funding is becoming less reliable, citing the denied bomb cyclone disaster declaration, delays in FEMA grant processing, and possible restructuring of FEMA that could shift more responsibility to states. He said Washington may need stronger state-funded public assistance, individual assistance, and mitigation programs, along with broader coordination among state agencies and local governments. Cybersecurity staff described state efforts to support local governments through the Cybersecurity Advisory Committee, threat intelligence sharing, vulnerability assessments, and a proposed volunteer incident response team, while noting the loss of MS-ISAC funding and the importance of continued state matching funds for cybersecurity grants. Hazard mitigation and tsunami staff emphasized the need for sustained investment in flood, wildfire, earthquake, lahar, and tsunami resilience, including vertical evacuation structures and language-access outreach. Ezell also briefed the committee on World Cup security preparations and federal grants for counter-unmanned aircraft systems, explaining that the state can buy mitigation capabilities but current authority to use them remains largely federal; the committee asked follow-up questions about fan zones, training, and the meaning of drone mitigation. No votes were taken, and the meeting ended with adjournment after the presentations and questions.

Transcript Highlights:

• What appeared in here before was that once a subsidy was repaid, it then went back for market rate lending
• The Finance Authority, though it has the name 'Finance', doesn't operate with a lot of lending capital
• SSBCI allows you to use the dollars in a variety of ways: venture capital, capital access, direct lending

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• When you lend from the retiree account, you risk its insolvency.
• In the short-term stabilization, the state could lend the fund money. The state could put money in.
• But isn't there a possibility that the union itself could lend the money, maybe instead of being so active
• Lend the money, maybe instead of being so active politically in spending millions upon millions of dollars

Committee: Senate Senate Budget and Appropriations