Transcript Highlights:

• It doesn't say that the bonds—the bonds—the tax can still be imposed even past when the bonds are paid
• is paid off and in future bonds.
• The bonds are still being paid off.
• To only cover the bonds.
• used to pay the bonds.

Transcript Highlights:

• We're going through bond sale right now, or bond ratings.
• That in particular is more specific toward general obligation bonds and lottery bonds.
• advisor to sell state bonds to... ...our municipal advisor to sell state bonds to different investors
• For lottery bonds. For lottery bonds.
• For lottery bonds. For lottery bonds.

Summary: The task force met to focus on funding systems and incentive structures for a proposed regional waste infrastructure effort, including how a future WIPA framework might support solid waste planning in the Willamette Valley. Staff and members heard presentations from DEQ on the Clean Water State Revolving Fund, from Business Oregon on the Special Public Works Fund, and from Oregon State Treasury on state bonding capacity and the bond issuance process. Presenters explained how their programs are structured, how projects are scored or approved, what kinds of public entities and projects are eligible, and how interagency coordination and co-funding can work. DEQ emphasized that its revolving loan fund is driven by water-quality benefits and public-health criteria, while Business Oregon described a broader infrastructure loan program for public entities with no scoring system, and Treasury outlined the state’s debt-capacity process and the differences between general obligation and lottery bonds. Members used the presentations to discuss whether similar funding tools could support solid waste infrastructure, especially for transfer stations, regional hubs, and related facilities that may need to be built before Coffin Butte reaches the end of its lifespan. Several questions centered on whether public-private partnerships could qualify, whether equipment inside facilities could be financed, how repayment would work, and whether planning costs could be covered. DEQ and Business Oregon both said they could potentially collaborate on scoring or co-funding, but noted eligibility limits and the need for public ownership in many cases. Treasury said bond capacity is limited and competitive, especially for lottery bonds, and that project authorization generally runs on a two-year cycle, though unused authority can sometimes be reauthorized. In task force discussion, members debated whether the group should pursue a dedicated funding lane for the seven-county region rather than having local governments compete with other statewide needs. Some members stressed the importance of criteria to avoid stranded assets and to ensure funding is available when projects are ready, while others raised concerns about how cities and counties would generate revenue to repay debt during construction and early operations. The group also discussed flow control, system fees, and the need for regional collaboration among counties, cities, and haulers to create enough waste volume to support new infrastructure. Staff noted that pre-session filing materials for the legislature are due September 11, and the chair said the August meeting will focus on organizational structure and identifying partners. During public comment, Representative Kevin Mannix submitted written testimony supporting the WIPA concept and urging the task force to endorse it. Commissioner Bubba King of Yamhill County urged the task force to compare alternatives objectively and warned against adding bureaucracy before evaluating existing infrastructure and costs. Commissioners Kevin Cameron and Roger Nyquist of Marion and Linn counties described regional hub-and-spoke concepts, transfer stations, and intermodal options, emphasizing the need for planning, strategic siting, and collaboration with haulers and local governments.

Transcript Highlights:

• <00:09:10.080> bill this year to pass that bonding bill this year to pass that bonding bill
• midnight to go here's the bonding bill. midnight to go here's the bonding bill.
• say and this is it, the bonding bill. say and this is it, the bonding bill.
• <00:19:44.799> bill<00:19:45.039> for standalone bonding bill for standalone bonding
• certainly since we didn't get a bonding certainly since we didn't get a bonding bill<00:20:28.960

Keywords: 1187, senate, all

Transcript Highlights:

• However, it's, and that $1.3 million was in, I think, a previous bond bill.
• So this is the bond cap credit, not special obligation bonds.
• from the GO bonds.
• Certainly, if you're adding special obligation bonds, they'll look at the special obligation bonds and
• Bonds would be issued, so it's not a one-and-done.

Keywords: 995, all

Summary: The Joint Committee on Bonding, State Assets, and Capital Expenditures held its first public hearing on House Bill 4257, a transportation bonding bill. The administration testified in support, describing the bill as a $1.185 billion authorization: $300 million for Chapter 90 municipal road funding and $885 million for statewide transportation capital programs. Officials said the bill would increase municipal aid by 50%, with $200 million distributed under the traditional Chapter 90 formula and $100 million based solely on road mileage to better help rural communities. They also highlighted $500 million for bridge and pavement lifecycle asset management, $200 million for culverts and small bridges, and $185 million for congestion, safety, ADA, sidewalk, and multimodal improvements. Committee members asked about how municipalities would apply, how the road-mile formula would affect rural towns, and how the bill would interact with federal funding uncertainty and debt financing. Administration witnesses explained that projects would be administered through MassDOT district offices and Grant Central, that the bill would not backfill rescinded federal funds, and that the proposal would likely use special obligation bonds backed by Fair Share revenues to reduce pressure on the Commonwealth’s general obligation debt limit. Members also pressed the administration on the shift from general obligation to special obligation financing and on whether the Chapter 90 increase keeps pace with inflation. Administration officials said the special obligation structure would be credit-rated separately and was intended to expand available capital without affecting the GO bond cap, while acknowledging that the Commonwealth’s debt portfolio would grow. They said the Chapter 90 increase would roughly restore purchasing power lost since 2012, though construction inflation has outpaced general inflation. Several members and witnesses emphasized the importance of the road-mile formula for rural communities and the need for technical assistance for small towns. The Massachusetts Municipal Association testified in strong support of the bill, calling Chapter 90 and the new infrastructure authorizations critical for cities and towns facing federal uncertainty and rising costs. The Massachusetts Aggregate and Asphalt Pavement Association also supported the bill, citing the importance of the funding for road and bridge work, the construction season, and the industry’s economic impact. A committee member asked about asphalt price inflation, and the witness said liquid asphalt costs rose sharply after COVID, including increases of around 20% in some years. At the end of the hearing, the chair said members would receive a poll by email to move the bill out quickly, and the committee then voted to adjourn.

Transcript Highlights:

• Baby bonds are a powerful tool to help address these challenges.
• Bonds, something that interests me, I guess.
• And baby bonds, as I mentioned, would not be an asset.
• No, the trust is the entire corpus of the baby bonds money, right?
• Baby bonds are significant government investments.

Keywords: 995, all

Summary: The committee first heard testimony on a proposed Massachusetts baby bonds program, including H. 3429, S. 2146, and the Treasurer’s related bill H. 48. Treasurer Goldberg and a broad coalition of advocates, researchers, health professionals, and people with lived experience said the program would create trust accounts for children born into low-income families or in DCF custody, with funds available at age 18 for education, homeownership, business startup, or other long-term asset-building uses. Supporters argued the program would help close the racial wealth gap, improve economic mobility, and not affect eligibility for financial aid or public benefits. Committee members asked about administration, investment returns, eligibility, and withdrawal rules; the Treasurer said the accounts would be held in trust and managed by her office with an advisory board, with funds accessible at 18 and usable through age 35 if the beneficiary remains a Massachusetts resident. No vote was taken during the testimony shown. The committee also heard testimony on legislation establishing Lobular Breast Cancer Awareness Day, including S. 2666 and H. 4625. Senator Ross, Representative Badger, physicians, survivors, and advocates described invasive lobular carcinoma as difficult to detect because it often grows in lines rather than forming a lump, can be missed on mammography, and is underfunded and underrepresented in research and clinical trials. Witnesses said the bill would codify an annual October 15 proclamation to raise awareness, improve diagnosis, and encourage more targeted research and treatment. Committee members asked why the disease is so hard to detect, and medical witnesses explained the imaging challenges and the lack of lobular-specific protocols. The witnesses urged favorable reports. The committee then took testimony on H. 4648, a bill concerning the purchase or lease of Fenn Farm in Stockbridge by the Stockbridge-Munsee community. Representative Davis, the Stockbridge Land Trust president, and the tribal president testified that the bill would remove a conservation restriction tied to a state MVP grant so the tribe could manage the land without a restriction that they said would conflict with tribal sovereignty and Indigenous stewardship practices. They said the parcel is a sacred site connected to Monument Mountain and that the restriction is unnecessary because the land is already surrounded by conserved property. The witnesses asked for favorable action on the bill. Finally, the committee heard testimony on H. 3416, a resolution urging Congress to create a national infrastructure bank. Representative Senna and several advocates argued that an off-budget infrastructure bank could finance major repairs and upgrades to roads, bridges, rail, water systems, broadband, and housing without adding to the state budget, while creating jobs and supporting economic growth. Witnesses cited historical precedents for national infrastructure banks and said Massachusetts could benefit substantially from such a program. The transcript shown does not include a committee vote or final action on the resolution.

Transcript Highlights:

• The first is to directly appropriate climate bond funding for the purposes specified in the bond, in
• Throughout the rest of the bond, the funds go to a department.
• On the other hand, most of the bonds had the exemption written into it.
• bond counsel.
• Backfilling reduces the amount of progress we've made with the bond.

Summary: The Assembly Budget Subcommittee heard the administration’s spending plan for Proposition 4’s climate smart agriculture and biodiversity chapters, along with related trailer bill language. CDFA outlined proposed funding for existing programs such as SWEEP, Healthy Soils, Urban Agriculture, and invasive species work, plus new or phased-in programs including year-round and mobile farmers’ markets, tribal food sovereignty, and regional farm equipment sharing. The Department of Conservation described funding for the California Farmland Conservancy Program and Working Lands and Riparian Corridors Program, while the Department of Finance and LAO discussed pending allocations and generally found the overall approach reasonable, though LAO suggested the Legislature may want more statutory guidance and reporting, especially for new programs. Members focused on implementation details, equity, and accountability. Questions covered how programs would serve vulnerable and disadvantaged communities, whether new solicitations would be reopened for previously oversubscribed grants, how outcomes are tracked, and how to structure guidance for new programs such as farm equipment sharing. The chair emphasized that the Legislature wants clearer direction on program design and noted that AB 2313 should guide implementation of the regional farm equipment sharing allocation. The committee also discussed the administration’s request to directly appropriate bond funds to departments and to exempt bond program guidelines from the Administrative Procedures Act; LAO supported the APA exemption with possible legislative guardrails for public notice and comment. The committee then heard on the farm-to-school proposal, with CDFA requesting $24.9 million General Fund for incubator grants, technical assistance, and network support. CDFA said the program has reached nearly half of California schoolchildren and has shown strong demand and positive evaluation results. LAO supported the core program but recommended rejecting the $3 million technical assistance component as too broad and suggested the Legislature consider using Proposition 98 for some of the funding. Members debated that point, with some expressing concern about using General Fund dollars for a new discretionary request during a tight budget year. The biodiversity and nature-based solutions chapter included funding for the Wildlife Conservation Board, state conservancies, and tribal nature-based solutions. WCB described major recent investments and proposed projects tied to 30 by 30, habitat restoration, tribal partnerships, and public access. Members raised concerns about long-term stewardship, the size of the WCB allocation, and whether the Legislature should receive more detail on how funds will be distributed. The committee also heard requests for Bolsa Chica wetlands maintenance and Rincon Island decommissioning funding from the State Lands Commission, with members questioning long-term liability, remediation costs, and the role of private oil operators. No votes were taken, and the hearing ended with public comment from stakeholders largely supporting the APA exemption, farm-to-school funding, biodiversity investments, and related conservation programs.

Transcript Highlights:

• Every year should be a bonding year. Every year should be a bonding year.
• in appropriation bonds for lead service<00:08:48.880> lines.
• dollars in appropriation bonds to be in dollars in appropriation bonds to be in the<00:09:25.040>
• <00:09:45.640> as cash or appropriation bonds as cash or appropriation bonds as Senator<00
• probably won't be a bonding bill.

Keywords: 919, house, all

Summary: House and Senate capital investment leaders held a public discussion focused primarily on lead service line removal and the need for a new bonding bill. Rep. Fue Lee and Chair Jeff Franzen said Minnesota’s existing state and federal lead-line funds will be exhausted by the 2026 construction season, warning that without action there would be no lead removal program in 2027. They framed the issue as a bipartisan public health and infrastructure priority, emphasizing that no amount of lead is safe and that regular capital investment is needed to keep communities moving forward. Testimony from Raquel Vasquez of St. Paul Regional Water Services, Bradley Peterson of the Coalition of Greater Minnesota Cities, and Joel Smith of LiUNA Minnesota and North Dakota described the scale of the problem and the progress made so far. Vasquez said St. Paul’s pilot program is working, with costs coming down and about 6,000 of roughly 26,000 local lead service lines expected to be replaced by the end of the season, but warned that 18,000 to 20,000 would remain without more funding. Peterson said there are about 100,000 known lead service lines statewide and more than 200,000 still being assessed, with replacement costs averaging $10,000 to $15,000 per line. Smith stressed that funding gaps would stall momentum, leave at least 90,000 lead pipes in the ground, and cost the state thousands of union jobs. In response to questions, Sen. Sandy Pappas said she supports including $100 million in appropriation bonds for lead service lines in the Senate bonding proposal, while acknowledging the need is closer to $250 million. House leaders said they were discussing the size and contents of the bonding bill and were considering both general fund cash and appropriation bonds, with affordability for homeowners a key concern. The chairs also discussed broader bonding priorities, including other water, sewer, road, and facility projects, and noted that decisions would depend on whether leadership can reach agreement on a final bonding package before the end of session.

Transcript Highlights:

• What most school districts do is they hire bond counsel, and bond counsel offers all of it.
• You're just getting bond counsel handling it all.
• You said current law they can wrap the fee into the bond, but what if the bond fails?
• I want to understand the context of how the current structure works when a bond fails, how bond counsel
• did have to pay for the bond counsel.

Keywords: 1182, all

Transcript Highlights:

• it's an incredibly safe um, uh, bonding it's an incredibly safe um, uh, bonding opportunity<00:03
• <00:08:40.399> bill didn't pass a pension um bonding bill didn't pass a pension um bonding
• bonding bonding grant.<01:22:32.199> Yeah.
• We're going to have a bonding bill, right? We're going to have a bonding bill, everybody.
• bonding bill, everybody. Let's do it. bonding bill, everybody. Let's do it.

Keywords: 1187, senate, all

Transcript Highlights:

• That means they were a revenue bond, a water and sewer that relies solely on revenue bonds.
• So if you go to issue, um, say revenue bonds or water bonds.
• We had some general obligation bonds from a previous bond issue that we that we refinanced and then 3
• The bonds are for 30 years.
• It's about private activity bonds, uh, the easier of the bonds that we're gonna hear today.

Transcript Highlights:

• <00:11:08.000> to that's 2.8 million of Geo bonds to that's 2.8 million of Geo bonds to support
• 3 like the GO bonds do.
• because it's a type of GO bond.
• 3 like the GO bonds do.
• because it's a type of GO bond.

Keywords: 1183, house

Transcript Highlights:

• It's bonding tour season at the Senate. Today, senators start the second leg of the bonding tour.
• Bonding things are absolutely critical.
• <00:01:43.920> them<00:01:44.159> to bonding committee there allows them to bonding
• <00:02:49.920> money the Senate is to make the bonding money the Senate is to make the bonding
• I think we should be doing a bonding I think we should be doing a bonding bill<00:03:16.720>

Keywords: 1187, senate, all

Transcript Highlights:

• So first, FY27, our bonding capacity has increased.
• So, sometimes we interject bond and mill levies.
• So, sometimes we interject bond and mill levies.
• So, for example, we in November 2025, we passed the voters approved 350 million of bonds worth of bonding
• So, the 350 million for example, the first bond sale for that is we're going to do this in bonds, four

Transcript Highlights:

• It's very limited to a common bond.
• It's very limited to a common bond.
• per for the bond per shity Bond correct per for the bond per shity Bond correct correct<00:57:36.880
• Just to be clear, this proposed language is additional bonding over top of existing bonding that coal
• bonding over top of existing bonding bonding over top of existing bonding that<01:08:35.199>

Keywords: 958, all

Summary: The committee met with a quorum, approved the minutes, and then reviewed a long agenda of administrative regulations, most of which were advanced with staff-suggested amendments and no objection. Early items included the Kentucky Public Pension Authority’s 105 KAR 1:451, which updates reporting language and adds the contractor wizard for certain employers, and a large package of Board of Veterinary Examiners regulations that revise fees, facility and AHP registration requirements, continuing education, liability, and practice rules. The Board of Speech-Language Pathology and Audiology’s compact-related regulation and the Board of Licensed Professional Counselors’ complaint and compact rules were also reviewed and approved with amendments, along with fish and wildlife rules affecting elk hunting, youth deer season length, bear-dog approvals, and foxhound enclosure permits. The committee also approved transportation, education, workplace standards, horse racing, and several health and human services regulations, including Medicaid waiver reimbursement updates and a child care regulation that sends certain large claims to the Office of Inspector General for review. Several agencies briefly explained their regulations when members asked questions. Fish and Wildlife said the elk population is strong and the baiting change is intended to support harvest monitoring and fair chase, while the longer youth deer season was meant to give young hunters more opportunity. The Department of Community-Based Services said the $10,000 and $5,000 claim thresholds were meant to clarify rare cases involving possible fraud or unresolved recoupment issues. The Department of Financial Institutions’ 808 KAR 5:305 drew the most discussion: it would allow certain state-chartered credit unions with a low-income designation to participate in federal programs, including limited non-member deposits and supplemental capital, but the regulation was deferred again amid continued discussions. The Kentucky Bankers Association testified against the credit union regulation, arguing that allowing non-member deposits conflicts with existing statute limiting credit union deposits to members and other credit unions, and that an administrative regulation cannot override that statutory restriction. Committee members heard the agency’s explanation that the proposal is intended to help underserved communities and that the non-member deposit authority would be limited, but no final action was taken because the item was deferred. The meeting otherwise concluded with the remaining regulations being called, discussed briefly, and approved or advanced without objection.

Transcript Highlights:

• ...when revenue bonds might be a better means of financing than a general obligation bond.
• bonds, and that's because revenue bonds are debt of the University.
• versus, say, state GO bonds.
• The pharmacy school at Hilo was partially funded with revenue bonds mixed with GO bonds.
• bonds and the things bonds mixed with go bonds and the things that<00:30:15.200> make<00:30:15.600

Keywords: 910, house, all

Summary: The committee first heard House Bill 707, which would create a state income tax deduction for contributions to Hawaii 529 college savings accounts and conform state law to federal changes allowing 529 funds to be used for K-12 expenses. The Department of Taxation said it could administer the bill as written. The Hawaii State Council on Developmental Disabilities supported the measure but asked that ABLE accounts be included and that the program title be changed; the Department of Taxation indicated the title issue could be a problem because the bill’s expanded purpose may not fit the current program name. No vote was taken. The committee then heard House Bill 617, which would fund a Bachelor of Science in Nursing program at the University of Hawaiʻi Community Colleges. UH Community Colleges supported the bill, and Maui nursing staff testified that faculty recruitment is challenging but manageable, clinical placements are available, and the campus already has a statewide RN-to-BSN pathway; they said the new program would create two tracks, including a four-year BSN option. Members also heard support from several organizations, including the Office of Hawaiian Affairs, nursing groups, and health care associations. No action was taken. Next were several UH-related measures. HB 718 would fund faculty and staff positions at the John A. Burns School of Medicine; the dean and other supporters testified in favor. HB 1279 would create a medical education liaison position tied to Project ECHO; the Attorney General raised constitutional concerns about statewide concern and grant standards, while an individual witness supported the concept but suggested the bill should focus on liaison/support functions rather than program administration. HB 1169 would consolidate conference center revolving funds, and HB 1168 would authorize up to $800 million in UH revenue bonds; UH’s CFO said both were procedural/housekeeping measures and supported them. On HB 1168, members questioned debt service, possible uses, and whether deferred maintenance would be included; the CFO estimated annual debt service could be about $33 million to $41 million at current rates, said likely uses could include student housing and research facilities, and said deferred maintenance was not the current strategy. The CFO also explained that revenue bonds require both legislative authorization and a Board of Regents resolution approving the project and amount. Finally, the committee heard HB 548, which would authorize revenue bonds and appropriations to acquire the St. Francis School campus for UH Mānoa. UH supported the bill but noted the property is privately owned and not known to be for sale. A supporter described the site as a unique 11-acre parcel contiguous to the main campus and urged the committee to seize the opportunity for future generations. No vote or final action was taken on the bills in the transcript.

Transcript Highlights:

• Meet the goals and expectations set out in the bond language.
• The first is to directly appropriate climate bond funding for the purposes specified in the bond, in
• Throughout the rest of the bond, the funds go to a department.
• On the other hand, most of the bonds had the...
• Backfilling reduces the amount of progress we've made with the bond.

Keywords: 988, house, all

Transcript Highlights:

• had a general obligation bond in nearly 20 years, nor lease revenue bonds since 2011.
• and lease revenue bonds.
• projects. college bond projects.
• It was about an equal amount of lease revenue bonds and G.O. bonds.
• to lease revenue bonds.

Keywords: 988, house, all

Transcript Highlights:

• So once a bond project, always a bond project. So now the dollars cannot go.
• The governor's recommendation is for GO bonds only, but the statute is written to allow for both GO bonds
• Sections 4 and 5 infrastructure bonds.
• in housing infrastructure bonds. in housing infrastructure bonds. So<00:37:16.680> Ms.
• that the housing infrastructure bonds that the housing infrastructure bonds are<00:37:20.840>

Keywords: 1187, senate, all

Transcript Highlights:

• I'd like to present the June bond sale, uh, starting on page 119.
• was looking at our previous bond sale in December.
• So, currently, the way we manage our bonds is through a few Excel spreadsheets.
• So, uh, building a better timeliness of the bonds, but again not tying up the old bonds, um, and then
• Uh, we're also moving to monthly audits of our bonds and share data.

Transcript Highlights:

• The concept of baby bonds is simple but powerful.
• Baby bonds are an antidote to this.
• Baby bonds are an antidote to this.
• Baby bonds address the root cause of poverty.
• In short, baby bonds is preventive medicine.

Keywords: 995, all

Summary: The Joint Committee on Financial Services heard testimony on several bills focused on financial security, banking regulation, and payment-card fees. Treasurer Deborah Goldberg supported the Massachusetts baby bonds proposal (H. 48) and also endorsed bills on matched savings (H. 1158/S. 737) and retirement planning/Secure Choice (H. 1143/S. 722), arguing these measures would help address wealth inequality, build assets, and improve retirement readiness. Supporters of baby bonds included policy experts and health advocates from Children’s Health Watch and Boston Medical Center, who said early-life asset building could improve long-term economic and health outcomes for children in low-income families. AARP also urged passage of the retirement planning bill, citing the large share of private-sector workers without access to an employer retirement plan. Representative Donato testified for H. 1143, describing it as a voluntary retirement-savings opportunity for workers at small employers. The committee also heard testimony on H. 3933, concerning the Massachusetts Credit Union Share Insurance Corporation, from former Bank Commissioner Mike Hanson, who defended the state’s full deposit insurance system for credit unions and savings institutions as a longstanding consumer-protection model. The Massachusetts Bankers Association raised concerns about the bill’s technical provisions and broader credit union/bank competitive issues, while the Cooperative Credit Union Association supported related legislation allowing modest compensation for credit union directors (S. 821/H. 1338) and flexibility for state financial institutions to grow through partnerships (S. 723). Bankers opposed those credit union bills, arguing they would upset a level playing field and blur long-standing distinctions between banks and credit unions. A major portion of the hearing focused on H. 1259/S. 688, which would prohibit card interchange fees on the tax and gratuity portions of restaurant transactions. Restaurant owners and the Massachusetts Restaurant Association testified in favor, saying the fees are a significant and growing expense, especially as most customers now pay by card; they argued the bills would save restaurants money without affecting state revenue. Credit union, banking, and payments-industry representatives opposed the bills, saying interchange helps fund fraud protection and payment infrastructure, that the proposal would create compliance burdens and likely litigation, and that it would mainly affect Massachusetts-chartered institutions while national banks could be preempted. Committee members noted that a commission on payment-card fees is being established and said the issue would be studied further. The hearing also included support for a separate bill on virtual credit cards for dental providers, with dentists saying automatic virtual-card payments impose hidden processing fees and fraud risks.