Transcript Highlights:

• from the record-shattering ending balance projected in the BRE, ...
• The projected ending balance in this BRE has a very different makeup.
• Other states that reported big balances are now experiencing deficits.
• This page simply shows the ESF balances in fiscal years 2022 through 2024 and estimated balances in fiscal
• Investment income just can continue to grow on top of the balance.

Bills: SB 1

Keywords: campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards

Summary: The Senate Finance Committee convened for its first hearing of the 89th regular session, confirmed a quorum, adopted committee rules by a 15-0 vote, and began review of Senate Bill 1, the state budget for fiscal years 2026-27. Chair Huffman outlined the committee’s organization, introduced staff, and described the budget as conservative and focused on one-time investments. She highlighted major SB 1 priorities including property tax relief, full funding for public education formulas, teacher pay, school safety, border security, Medicaid growth, dementia research, energy and water infrastructure, transportation, wildfire suppression, and other capital and public safety needs. Comptroller Glenn Hager presented the biennial revenue estimate, saying the state has $194.6 billion available for general-purpose spending in 2026-27, with a projected $23.8 billion ending balance from the current biennium. He cautioned that revenue growth is returning to more normal levels and that lawmakers should avoid committing short-term surpluses to ongoing expenses. He also explained that the Economic Stabilization Fund is projected to hit its constitutional cap, meaning an estimated $5.6 billion in severance tax and related revenue would remain in general revenue in the upcoming biennium rather than flow into the fund. Senators discussed whether to raise or rename the fund and the implications of keeping more severance-tax revenue in general revenue. The Legislative Budget Board then gave an overview of SB 1 and the budget’s major funding changes. LBB staff explained that the bill is essentially flat at $332.9 billion in all funds, but includes large method-of-finance shifts and major property tax relief. They detailed how prior property tax relief enacted in the 88th Legislature grew from an estimated $18 billion to $22.7 billion because of higher property values and hold-harmless provisions, and said SB 1 continues that relief with a total of $51 billion in ongoing and new property tax support. Members asked extensive questions about the automatic growth in school tax compression, the constitutional homestead exemption, COVID-era federal funding, Medicaid assumptions, and the sunset of the non-homestead circuit breaker. No additional votes or final budget actions were taken beyond adoption of the committee rules.

Transcript Highlights:

• But Republicans are ready to work on a responsible and balanced budget that's going to fund our priorities
• And it's out of order because our state economy is fundamentally out of balance.
• </c><00:15:48.480><c> We</c> had talked about balanced government.
• We had talked about balanced government.
• I would hope that his balanced budget.

Keywords: 1183, house

Transcript Highlights:

• Our new estimate anticipates an available balance of $4.1 million in account number 5152.
• At the end of the year, we will be able to provide you with the balance.
• We will be able to provide you with the balance of $4.1 million at the end of fiscal year 2025 and the
• The unexpended balances that have been previously provided, there is a mechanism that allows that to
• The request to amend right to include the balance of authority there is the fiscal on board and from

Bills: SB1, SB 1

Keywords: appropriations, budget, state funding, education, healthcare, infrastructure, campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards, 1185, senate, all

Transcript Highlights:

• And so I think from our perspective, trying to find and strike that right balance.
• And so I think from our perspective, trying to find and strike that right balance is the key.
• And so again, finding that balance is important for us. I don't know if that answers your question.
• SB 978 ultimately strikes the right balance.
• And it's a tough slog, you know, getting everything to understand and also to strike the balance.

Keywords: 987, senate, all

Transcript Highlights:

• . balance. balance.
• </c> myself the balance of the time. myself the balance of the time.
• </c> the balance of my time. the balance of my time.
• </c> balance of my time. balance of my time.
• </c> balance of my time. balance of my time.

Keywords: U.S. House of Representatives Floor Proceedings on Thursday, July 17, 2025, 1012, house, all

Transcript Highlights:

• One is to prohibit balance billing.
• We are committed to prohibiting balance billing. We are committed to stabilizing the EMS system.
• One is to prohibit balance billing.
• > committed to prohibiting balance committed to prohibiting balance billing.<00:13:31.920><c> We</c><
• </c> and that was again eliminate balance and that was again eliminate balance billing<00:14:37.440><

Keywords: 1191, senate, all

Transcript Highlights:

• Second, the task force determined that our ... of that balance and then 4% for some of of that balance
• </c><00:29:49.120><c> between</c> achieves an effective balance between achieves an effective balance
• </c><00:32:56.399><c> those</c> perpetual resource and balance those perpetual resource and balance those
• </c><01:03:43.440><c> the</c> purchasing power and further balance the purchasing power and further balance
• It would strikes the right balance.

Keywords: 1187, senate, all

Transcript Highlights:

• </c><00:04:05.840><c> in</c><00:04:06.000><c> that</c> the balance in that the balance in that account
• Um I think balancing into the tales.
• So, unencumbered balance is 5 million.
• forecast was a $1.6 billion positive balance in '26 and '27 and a $2.379 billion negative balance in
• Uh if um negative balance in 28 and 29.

Keywords: 1187, senate, all

Transcript Highlights:

• A balanced, workable budget for the future.
• Speaker, is that frequently they said, "Balance, balance, balance."
• Speaker, is that frequently they said, "Balance, balance, balance."
• Speaker, is that frequently they said, "Balance, balance, balance."
• :15.119><c> in</c> balance, that balance should be found in balance, that balance should be found in

Keywords: 1183, house

Transcript Highlights:

• And the balance is decreasing year over year as we get closer to that payoff date.
• And the balance is decreasing year over year as we get closer to that payoff date.
• We now have a balance of just over $11.5 million in the account.
• You'll note the balance is just under $5 million now.
• So we were at $103.7 million last year in the balance. Now we're at $64.7 million.

Keywords: 965, house, all

Summary: The Public Retirement System Actuarial Committee met on February 23, 2026, approved the December 18, 2025 minutes, and heard no public comment. The committee then reviewed actuarial valuation reports and, for most systems, accompanying experience studies. The actuaries reported generally favorable investment and demographic experience across the systems, with funded ratios improving and employer contribution rates declining in several plans. They also explained the role of funding deposit accounts, frozen unfunded liabilities in some plans, and how recent legislative changes, especially the move to five-year DROP periods in some systems, affected assumptions and costs. For the Louisiana Clerk of Court Retirement Relief Fund, the committee adopted the valuation and experience study, recognizing a fiscal 2027 minimum recommended employer rate of 14.75%. For the District Attorney’s Retirement System, it adopted the valuation and experience study and recognized a fiscal 2027 minimum rate of 3.00%. For the Firefighters’ Retirement System, the committee adopted the valuation and experience study, recognized a fiscal 2027 minimum rate of 25.5%, and noted that DROP balances left on deposit will earn the market rate of return of 11.7%. The committee also adopted the Municipal Employees’ Retirement System valuation for both Plan A and Plan B, recognizing fiscal 2027 minimum rates of 20.75% and 8.75%, respectively. It adopted the Municipal Police Employees’ Retirement System valuation and experience study, recognizing a fiscal 2027 minimum rate of 26.5%, a DROP crediting rate of 7.4%, and a policy range up to 29.35% for future contributions. For the Registrars of Voters Employees’ Retirement System, the committee adopted the valuation and experience study, recognized a fiscal 2027 minimum rate of 0%, and noted a $207,683 allocation to the Member Supplemental Savings Fund for fiscal 2026. Finally, it adopted the Sheriff’s Pension and Relief Fund valuation and experience study, recognizing a fiscal 2027 minimum rate of 7.75%. All motions passed without objection, and the meeting adjourned.

Transcript Highlights:

• And I think they want us to act to make sure that that power equation is balanced.
• um if you're paying your balanced um if you're paying your premiums<00:04:27.520><c> uh</c><00:04:27.600
• Now legislators are sharing their thoughts on how to balance the budget.
• We expect an available balance in fiscal years 2026-2027 of $616 million.
• this two-year cycle we do a balancing this two-year cycle we do a four-year<00:24:25.120><c> cycle</

Keywords: 1187, senate, all

Transcript Highlights:

• So I think this bill strikes a balance.
• So I think this bill strikes a balance.
• But that, to me, is a balanced approach.
• So I'm trying to find a balance. Thank you.
• Florida law reflects the same common-sense balance.

Summary: The committee heard several health-related bills. SB 1082 would let providers or insurers in state-regulated commercial plans opt into the federal independent dispute resolution process for emergency out-of-network claims, with a late-filed amendment clarifying access to the state program in certain circumstances. The bill sponsor and emergency physicians said the measure would reduce litigation and improve payment resolution; the committee adopted the amendment and reported the bill favorably as a committee substitute. SB 1168 would centralize background screening work for the care provider clearinghouse at the Agency for Health Care Administration and update related screening rules, including sealed and expunged records for qualified entities. The sponsor said the change would speed turnaround and reduce duplication; an amendment was adopted, and the bill was reported favorably as a committee substitute. SB 1156 would move ambulatory surgical center regulation out of Chapter 395 into a standalone section of law, and it was reported favorably without amendment. SB 1480, as amended by a strike-all, would grandfather certain temporary certificate holders practicing in areas of critical need if federal designations change, allowing them to continue seeing current patients and potentially new patients in their existing area subject to board oversight. The committee heard support from health system representatives and reported the bill favorably. The final and most debated measure, SB 1756 on medical freedom, would require vaccine education materials and alternative schedules, expand school immunization exemptions to conscience-based objections, clarify limits on emergency vaccination orders, and allow pharmacists to dispense ivermectin behind the counter with written information. The sponsor and supporters framed it as parental choice and access, while physicians, public health advocates, cancer advocates, and parents of immunocompromised children warned it would lower vaccination rates and increase disease risk. The committee adopted a liability-related amendment, rejected a substitute amendment that would have required consultation for exemptions, and continued hearing public testimony opposing the bill; the transcript ends before final action on SB 1756.

Transcript Highlights:

• SB 122 strikes the right balance.
• SB 122 strikes the right balance.
• I appreciate wanting to have a balanced budget, but balancing budgets don't have borrowed money.
• Our view is that that strikes an appropriate balance in terms of, you know,... ...an appropriate balance
• Thank you. ...balanced approach in my opinion.

Summary: The Senate Budget and Fiscal Review subcommittee heard four budget trailer bills: AB 110, AB 122, AB 125, and AB 177. AB 110 was described as a budget bill junior identifying budget-related legislation. AB 122 would extend sales tax to electronically delivered or remotely accessed prewritten software, extend and later limit business tax credits, reduce the annual LLC/LLP/LP tax for first-year businesses for three years, and impose a 100% tax on certain federal anti-weaponization fund settlements. AB 125 would renew the managed care organization (MCO) tax for three years beginning in 2027 to support Medi-Cal and targeted provider rate increases. AB 177 would require the Department of Finance to return by March 1, 2027 with options for assessing large employers for the Medi-Cal costs of employees enrolled in the program, including at least one employer-paid premium option for firms with 250 or more employees, and would appropriate $1,000 General Fund for implementation. Administration witnesses said AB 122 modernizes the tax system and helps create general fund revenue, while AB 125 is needed to preserve Medi-Cal financing and targeted rate increases under new federal constraints from H.R. 1 and to avoid a budget hole if the MCO tax expires. On AB 177, Finance said the bill is only a study and does not itself impose a tax, but would direct the administration to develop options for future consideration. Supportive members argued the package is part of a balanced approach to address the structural deficit, protect health care and other safety-net programs, and ensure large corporations pay more of their share. They also said AB 177 is a necessary step toward asking large employers to help cover public health care costs for workers who rely on Medi-Cal. Opponents, led by Vice Chair Niello and several other Republicans, argued the state does not have a revenue shortage but a spending problem, warning that the proposals would raise costs on consumers and businesses, discourage innovation, and expand taxes beyond their intended scope. They criticized AB 122 as potentially taxing labor-like services and limiting research and development credits, and said AB 125 would increase premiums for commercial enrollees and employers. On AB 177, they questioned the lack of definitions and specifics, saying the bill is too vague and could eventually burden employers, including hospitals and part-time workers, without clear standards. No votes were taken in the portion of the hearing provided; the committee heard testimony and questions before public comment and later action.

Transcript Highlights:

• This balance is a primary goal of the legislation that extended the program.
• And so we just need to balance those.
• And CARB is really seeking to find this balance between ambition and affordability.
• So I think CARB is really hitting for a balance here. And then there is climate ambition.
• I think that's an important balance to be very, very important balance to be very deliberate about.

Summary: The Joint Legislative Committee on Climate Change Policy heard an overview from CARB on proposed amendments to California’s Cap-and-Invest program, which was reauthorized through 2045 by AB 1207 and SB 840. CARB said the draft rules are intended to preserve affordability, market certainty, and progress toward the state’s 2030 and 2045 climate targets. The agency described the program’s main features, including the declining emissions cap, utility and industrial allowance allocations, offset changes, the allowance price containment reserve, and new reporting and oversight requirements. CARB also said the rulemaking is on a public comment timeline, with board consideration planned for late May and an effective date targeted for September 1, 2026. Committee members focused heavily on electricity affordability, the planned shift of free allowances from natural gas utilities to electric utilities, and whether the proposal would raise rates for investor-owned and publicly owned utilities. CARB said the proposal is meant to protect ratepayers from compliance costs and that the utility allocation is based on updated data showing utilities are greener than before, but members and utility representatives argued the transition should happen faster and that the current draft could reduce expected revenues and disrupt long-term planning. Members also pressed CARB on carbon capture and sequestration, asking that the regulations clearly recognize it as a compliance pathway, and on whether the SB 905 rulemaking for carbon capture should move forward on schedule. A second major topic was industrial allocations, especially for refiners and other sectors at risk of leakage. CARB said it is keeping all industries at high leakage risk through 2030, maintaining the current cap-adjustment approach, and leaving room for additional comments and data on whether refiners need more allowances to avoid economic leakage and preserve in-state refining. Members also questioned how imported gasoline is treated, and CARB explained that transportation fuel is regulated at the rack and through the low-carbon fuel standard, while cap-and-invest covers in-state tailpipe and smokestack emissions rather than full life-cycle emissions. CARB said it is open to using additional data, including SB 253 reporting, to improve fuel carbon-intensity estimates. The panel of outside experts largely agreed that the program must balance affordability, ambition, and leakage concerns, but they differed on how much allowance value should go to utilities, industry, and the Greenhouse Gas Reduction Fund. The Legislative Analyst’s Office emphasized that the Legislature should scrutinize CARB’s allocation choices now because they will be hard to change later. An IEMAC representative said the proposal appears to shift more allowance value to industry and utilities, which could reduce GGRF revenues, while EDF argued the cap could be tightened further in the near term without triggering price containment. SCAPA, representing publicly owned utilities, warned that the proposal would reduce utility allowances and could raise costs for ratepayers and undermine early decarbonization investments. No votes were taken at the hearing.

Transcript Highlights:

• This balance is a primary goal of the legislation that extended the program.
• This balance is a primary goal of the legislation and of all of our actions.
• This balance is a primary goal of the legislation that extended the program.
• And so we just need to balance those.
• ; it's a much harder balance to actually strike.

Summary: The committee heard an overview and discussion of CARB’s proposed amendments to California’s Cap-and-Invest program, implemented under AB 1207 and SB 840. Chairs and members emphasized the program’s role in meeting climate targets while balancing affordability, and CARB described the proposal as intended to preserve market certainty, strengthen cost containment, address utility affordability, and support the state’s 2045 carbon-neutrality goal. CARB also noted the public comment period, the planned board hearing, and the goal of an effective date of September 1, 2026. Members questioned CARB on several implementation issues, including whether the rulemaking would be completed on time, the treatment of carbon capture and sequestration, the timing of the transfer of allowances from natural gas utilities to electric utilities, and the impact on ratepayers. CARB said it was on track to meet the May deadline, that CCUS/CDR could be further refined in the proposal and would also be addressed in a separate SB 905 rulemaking later in the year, and that it was seeking to protect ratepayers while inviting more utility data during the comment period. The committee also discussed refining-sector leakage risk, gasoline imports, and how imported fuel is accounted for under cap-and-invest versus the low-carbon fuel standard. A second panel of outside experts and stakeholders then testified. The Legislative Analyst’s Office and IEMAC representatives explained the major statutory changes, including putting offsets under the cap, shifting allowances from natural gas to electric utilities over time, and changing how allowance value is divided among utilities, industry, and the Greenhouse Gas Reduction Fund. They stressed that CARB has significant discretion in setting the allowance “pie,” and that more free allocations to utilities or industry reduce GGRF revenues. EDF’s representative argued the proposal should be adopted this spring, said the utility transition should happen faster, and urged a tighter near-term emissions cap. SCAPA, representing publicly owned utilities, opposed the proposed utility allocation changes, saying they would reduce expected allowances, undermine long-term planning, and could force higher rates or reduced decarbonization investments.

Transcript Highlights:

• This will be accomplished by appropriating available cash balances for non-recurring expenditure, including
• Taking cash balance for non-recurring uses? Yes. So, Mr.
• Taking cash balance for non-recurring uses? Yes. So, Mr.
• Chair, Representative, you know that it is a difficult balancing act.
• Chair, Representative, you know that it is a difficult balancing act.

Keywords: 996, all

Summary: The committee met with quorum and took up only HB 3, the Department of Transportation Appropriation Act of 2026 for FY27. The bill was presented as an amended budget that would increase NMDOT’s operating budget by about $132.6 million, or 10.2%, using available cash balances, additional projected revenue, and contingent revenue tied to Senate Bill 2, the highway bond bill. Staff walked through the amendment section by section, explaining changes to project design and construction, highway operations, program support, modal programs, federal and interagency transfer lines, corrected performance-measure language, and added budget adjustment authority for the current and next fiscal years. Several members raised concerns about the late circulation of a revised amendment and the appearance of multiple bill versions, arguing the committee had not had enough time to review the changes and that the process may have violated the 24-hour rule. Others asked for clarification on how the budget distinguished between rehabilitation and maintenance, and DOT staff explained that major rehabilitation is generally tied to STIP projects while maintenance is handled through district-level plans and contracts. Members also discussed the use of cash balances for non-recurring spending, the impact of electric vehicles on road revenue, and the need for more maintenance, litter cleanup, fencing, and beautification funding. DOT and executive representatives noted the amendment includes a significant maintenance increase and said additional non-recurring funding could also come through House Bill 2 and the capital bill. The committee first rejected a substitute motion to delay action, then adopted the amendment and later voted due pass on HB 3 as amended. Public comment was opened, but no one spoke in support or opposition. After passage, members explained their votes, with some supporting the bill as a needed transportation investment and others objecting to the process and the compressed review timeline.

Transcript Highlights:

• I achieve a balance between the creditor and the debtor.
• There has to be a balance in the system.
• But I think that what I see here is it's really an issue of having balance.
• We're concerned that this bill, as it stands, does not create that balance.
• That would be a good balance.

Bills: HB1193, HB2495, HB2733, HB3104, HB3395, HB4325, SB3009

Keywords: HB 1193, informal marriage, common-law marriage, declaration of informal marriage, confidentiality, privacy, county clerk, vital statistics unit, Family Code, Health and Safety Code, marriage records, public records, personally identifying information, PII, legal representative, Texas marriage law, child enrollment, parent rights, managing conservator, education

Transcript Highlights:

• It was after the fracking revolution took place that we started accumulating balances.
• So assuming that we'll continue on a trend, we can be balanced between natural gas and oil prices.
• We did make a transfer this past biennium from unencumbered balances that were remaining at the end of
• It's oil and gas revenue, investment, interest earnings, and the balance of the fund.
• If you increase the cap, that balance will be 39.

Bills: SJR4, SJR 4

Keywords: economic stabilization fund, state finance, constitutional amendment, budget management, financial security, term limits, state offices, governor, lieutenant governor, election reform, 1184, house, all

Transcript Highlights:

• , balances have also increased, and the Department of Financial Services is able to invest those funds
• So as a result of high balances and higher interest rates, we have seen more in that source.
• at how to leverage those balances in a way that maximizes the return.
• They'll be much lower as the interest rates come down and as balances come down as well.
• They'll be much lower as the interest rates come down and as balances come down as well.

Summary: The Senate Committee on Finance and Tax convened with a quorum present, heard an introductory presentation of committee staff, and then received a staff briefing from Azar Khan on Florida’s state tax structure and revenue outlook. The presentation covered fiscal year 2023-2024 revenues, noting more than $127 billion in total state revenue, with general revenue exceeding $48 billion and sales and use tax making up the largest share. It also compared Florida’s tax burden to other states, highlighted Florida’s low per-capita revenue ranking and strong business formation numbers, and reviewed major and minor revenue sources, tax rates, and the revenue estimating conference process. Members asked about what drives revenue growth, including population, tourism, construction, and auto sales, and about Florida’s regressivity, corporate income tax participation, and investment earnings on state balances. Khan said the state’s revenue picture remains positive and stable, but that future growth is slower than during the COVID-era spike; he also explained that some negative forecast changes were tied to legislative actions such as the insurance premium tax credit, while others reflected lower tobacco consumption and severance activity. He noted that revenue and spending forecasts are separate and that budget-side growth is driving concerns raised in other state economic projections. The committee also discussed possible tax package ideas for the upcoming session, including tax holidays and homeowner relief, but no specific proposals were acted on. The chair announced the committee would not meet the following week and that the next meeting would be in week three of February. The meeting concluded with no objections to a motion to adjourn.

Transcript Highlights:

• Do we unwittingly create a balance? The amount of litigation?
• So there's a balance. ...that's where the wrinkle lies.
• So there's a balance there.
• I think I really want us to strike this balance well. I really want us to strike this balance well.
• And that's the balance we're trying to achieve.

Bills: HB99, HB49, HB164, SB30, SB43, SB50, SB136

Keywords: medical malpractice, malpractice reform, patient's compensation fund, PCF, health care liability, tort reform, damage caps, punitive damages, hospital liability, physician liability, nurse practitioner, certified nurse-midwife, outpatient facility, ambulatory surgical center, urgent care, free-standing emergency room, insurance surcharge, superintendent of insurance, New Mexico hospitals, medical review process

Summary: The committee first took up House Bill 99, which would make changes to the Medical Malpractice Act, especially around punitive damages. The chair and sponsor said the bill would not be voted on that day and that public comment would wait until Monday, when a fuller presentation and any recommended substitute would be considered. Dr. Brooke Baker, a physician-lawyer, gave a long presentation on physician wellness, malpractice stress, and the effect of litigation on staffing and burnout, while also discussing hospital ownership structures, private equity, and rural hospital vulnerability. She argued that punitive damages are often pled too broadly in New Mexico, that the amendment language was unclear about which entities would be capped, and that better oversight and internal quality systems—not punitive damages—are the better tools for addressing bad actors and unsafe care. Committee members from both sides asked extensive questions about the patient compensation fund, indemnification, corporate structures, the effect of caps on insurance and recruitment, and whether the bill would protect physicians’ personal assets. No vote was taken on HB 99, and the committee recessed before moving to the next bill. The committee then returned to House Bill 49, a public safety measure increasing penalties for felons who possess firearms. The sponsors and law enforcement witnesses said the bill is aimed narrowly at serious violent felons who are already prohibited from having guns, and that it would align state sentencing with federal law and give police and prosecutors a stronger tool against repeat violent offenders. An amendment was offered to narrow the bill further, add destructive devices, and make the offense a second-degree felony rather than escalating to first degree on repeat offenses. The amendment was adopted without opposition. Public testimony on HB 49 was largely opposed. The Law Office of the Public Defender argued the bill criminalizes possession without a new act of violence, that current law already punishes felon-in-possession conduct, and that New Mexico has repeatedly increased penalties without evidence of reduced gun crime. The ACLU of New Mexico also opposed the bill, saying increased penalties are not a proven deterrent. The transcript cuts off as additional online opposition testimony was beginning.