Transcript Highlights:

• I don't think hanging our hat on a very old plan update is going to be sufficient for very competitive
• But she also understands that you're trying to expedite the development of bike and pedestrian projects
• While VTA workers may be making competitive middle-class wages, they work and hope to live in one of
• VTA has a very robust transit-oriented development program.
• Being able to have the opportunity to develop some of VTA's properties into mixed-use opportunities,

Keywords: 988, house, all

Transcript Highlights:

• Senate Bill 286 by Senator Duplessis provides relative to the New Orleans Downtown Development District
• If you don't have it at age 60, you'll never develop the cells.
• Senate Bill 281 by Senator Barrow provides for changes to the Baker Economic Development District.
• I'm Mayor Darnia. to the Baker Economic Development District. Good morning, sir. Good morning.
• Paulette Bailey Wilson with Baker Economic Development District, present, not wishing to speak.

Summary: The House Municipal, Parochial, and Cultural Affairs Committee met and advanced a series of local bills, mostly by unanimous voice vote after brief questions. SB 430 by Sen. Jenkins renewed the Shreveport-Bossier Convention and Tourist Bureau’s 1.5% hotel occupancy tax for 12-year periods by voter approval, with discussion about continued planning and coordination among tourism entities. SB 286 by Sen. Duplessis updated the New Orleans Downtown Development District statute by clarifying its status as a political subdivision, streamlining tax collection, removing staggered board terms, and clarifying bond renewal voting boundaries. The committee also favorably reported SB 198 by Sen. Mizell, requiring government projects in historic districts to follow local historic district rules for new construction; SB 172 by Sen. Luneau, expanding a planning-commission waiver process for certain property divisions to municipalities below 150,000 population; and SB 439 by Sen. Gerald Boudreaux, adding pre-screening for esophageal/Barrett’s cancer for firefighters and fire service employees. Testimony on the firefighter bill emphasized the health risks from carcinogen exposure and the value of early detection, and members expressed strong support. Additional bills advanced included SB 458 by Sen. McMath, creating a mechanism for local ethics-entity tax revenues in St. Tammany Parish to be transferred to the district attorney’s office if an inspector general office is created; SB 447 by Sen. Bass, changing Bossier City Police Department promotions from competitive to promotional seniority; SB 281 by Sen. Barrow, expanding the Baker Economic Development District boundaries to include additional commercial areas; SB 385 by Sen. Harris, changing appointments to the City Park Improvement Association board and allowing City Park to opt out of certain ORM insurance coverage; HR 84 by Rep. Walters, urging Shreveport to create an interest-free loan program for TSA workers during federal shutdowns; and SB 417 by Sen. Allain, adding two members to the St. Mary Parish drainage district board. All of these measures were reported favorably, with one member recusing himself from the City Park bill due to board membership. The committee then recessed briefly, noting several remaining bills would be deferred if sponsors did not arrive soon.

Transcript Highlights:

• The Skills Development Fund is the state's premier job training program designed to help businesses partner
• The ultimate goal is to enhance the capabilities, competitiveness, and Learning potential of the Texas
• In August of 2022, the US Economic Development Administration announced awards to 32 programs with a
• I was in city government doing economic development in the Valley for years with the Texas Department
• This program will be located at TWC and would provide one-time startup funds to support the development

Transcript Highlights:

• promote lawful and protected gambling activities for the purposes of promoting tribal economic development
• . ...gambling activities for the purposes of promoting tribal economic development, self-determination
• We have developed partnerships with other local agencies to collaborate and offer services like blood
• to the new controls that are envisioned here, the tribe is going through a process internally of developing
• We're simply requesting that we be able to do the same in order to stay competitive in our market.

Summary: The joint House and Senate committee meeting heard public testimony on tentative tribal-state gaming compact amendments for the Port Gamble S'Klallam Tribe and the Upper Skagit Indian Tribe. Staff from the Washington State Gambling Commission explained the compacting process, the role of ex officio legislative members, and that the amendments would next go to the Gambling Commission for a January 8, 2026 vote before possible governor review. The Port Gamble S'Klallam presentation emphasized how gaming revenue supports tribal government services, health care, housing, education, language revitalization, natural resources work, and community investment projects in Kitsap County. For Port Gamble S'Klallam, the proposed changes include expanded credit and wager limits, more gaming stations and player terminals, language for a second facility, and adoption of an electronic table games appendix similar to other tribes. Members asked about pre-screening for high-limit tables, including how the tribe would define problem gambling and self-exclusion; tribal counsel said internal minimum control standards were still being developed and more detail would follow. A question about green crab removal in Port Gamble Bay was deferred for follow-up because the natural resources director was not present. The Upper Skagit Indian Tribe described its history, sovereignty, gaming operations, and how gaming revenue supports member programs such as nutrition assistance, education aid, homeownership down payment help, and charitable giving in Skagit County. Its amendment would allow electronic table games after the tribe removed traditional table games due to staffing and cost pressures, with the goal of remaining competitive. Committee members also asked about air quality and smoking-related provisions in the compact; the tribe said it maintains separate smoking and non-smoking areas and supports smoking cessation efforts. Chairs from both chambers closed by thanking the tribes for their contributions to members, local communities, and natural resource protection.

Transcript Highlights:

• Housing is one of the hardest issues in Boston: tenants, landlords, homeowners, developers—you know,
• However, I want to briefly provide context for just how this petition was developed and how it was structured
• The petition was developed... All required local approvals under Boston's home rule authority.
• The petition was developed through extensive meetings of the council's Committee on Government Operations
• Furthermore, it should be stated that Boston's home rule petition was developed prior to the committee's

Keywords: 995, all

Summary: The Joint Committee on Election Laws held a hearing on ranked choice voting, focusing primarily on Boston’s home rule petition (H. 4262) and Bedford’s petition (H. 4916). Committee chairs Dan Hunt and Senator Keenan opened the hearing, explained the three-minute testimony limit, and noted that written testimony would also be accepted. The hearing featured testimony from a wide range of supporters, including advocacy organizations, community leaders, Boston City Council members, and Bedford residents. Witnesses generally argued that ranked choice voting would produce majority-supported winners, reduce vote-splitting and negative campaigning, encourage coalition-building, and give voters more freedom to rank candidates without fear of wasting their vote. Several speakers emphasized local control and said Boston and Bedford should be allowed to decide for themselves whether to adopt the system. Others highlighted potential benefits for women, historically marginalized communities, and voter participation more broadly. Boston councilors and supporters also described the city’s local approval process and said the proposal would still require voter ratification if enacted by the legislature. No opposition testimony was presented in the excerpt. The committee took no substantive vote on the bills during the hearing; after testimony concluded, the chairs thanked participants and the committee adjourned.

Transcript Highlights:

• Development Fund. The legislature Development Fund.
• The fifth one is developing a statewide economic development strategy.
• The fifth one is developing a statewide economic development strategy.
• The fifth one is developing a statewide economic development strategy.
• development point of view. development point of view.

Keywords: 916, all

Transcript Highlights:

• <05:25:40.798> by<05:25:40.958> the capital or RBC model developed by the capital or
• well-developed systems and standards. well-developed systems and standards.
• what we would call a competitive what we would call a competitive<06:00:16.558> price<06:00:16.920
• And in that competitive price quote.
• give you competitive pricing, we give<06:01:01.280> an<06:01:01.520> explanation<06:01

Keywords: 928, house, all

Summary: The committee first heard Senate Bill 47, sponsored by Sen. Regina Birdsell at the request of the Insurance Department. The bill would codify the department’s interpretation that a birth mother’s health insurance is the primary coverage for a newborn, unless the mother has no insurance or coverage under an employer-sponsored plan. Birdsell and Insurance Commissioner DJ Benton Court said the measure is a clarification of existing practice and intended to protect vulnerable newborns; a question from Rep. Miles clarified that if a young woman is on her parents’ policy, the newborn would generally be covered under that family coverage. The hearing on SB 47 was then closed. The committee then took up Senate Bill 121, introduced by Grant Bosi for Sen. Kevin Avard, which would require insurers to notify the Insurance Department when they stop writing an entire line of business or, in some cases, Medicare Advantage plans. Commissioner Benton Court said the bill arose from disruption in the Medicare Advantage market, where consumers, brokers, and the department were confused by carriers changing or ending offerings; he said the department wanted a simple notification requirement so it could better advise consumers. Members discussed network adequacy, county-based service areas, and the fact that the bill would make notice a condition of licensure, with possible fines or license action for noncompliance. Witness Paula Rogers of AHIP said her group supported the bill if amended, and the department indicated it would support a change from a 120-day notice period to 90 days to align with state rules; the committee planned to work on an amendment in subcommittee. Finally, the committee heard Senate Bill 247, introduced by Rep. Brian Cole, which would prohibit network exclusion of pharmacies that refuse to dispense prescriptions when PBM reimbursement is below acquisition cost. Cole argued the bill is meant to stop pharmacies from being forced to sell drugs at a loss, describing PBMs as middlemen and saying the measure is a compromise that protects local pharmacies. Members questioned whether consumers would pay more and whether pharmacies voluntarily enter PBM contracts; Cole responded that the bill would let pharmacies refuse unprofitable fills while consumers could still obtain the drug through mail order or other channels. He also said the issue has changed over time because the practice now affects a much larger share of generics and is concentrated among a few PBMs. The hearing remained open as questions continued, with no vote taken in the excerpt.

Transcript Highlights:

• received through March 1, 2026, for inclusion in the FY 2027-2028 Port Priority Construction and Development
• They can request much larger amounts from the state, and that will also help them become more competitive

Keywords: 965, house, all

Summary: The Joint Committee on Transportation, Highways and Public Works met to receive public testimony and act on port priority applications for inclusion in the FY 2027-2028 Port Priority Construction and Development Priority Program. After approving the March 9, 2026 minutes, the committee heard from Commissioner Andrew Kilshaw of the Office of Multimodal Commerce on two applications from the Avoyelles Harbor and Terminal District: a building addition and waterfront industrial improvements project, and a Workforce Training Center redevelopment project. He said both met program criteria and projected substantial state benefits, jobs, and high benefit-cost ratios. Committee members asked about the projected jobs, the unusually high benefit-cost ratio, and the status of other port projects. Kilshaw and DOTD’s Molly Bergoin said the program has a backlog of more than $200 million, but the department is working through it, with some projects nearing closeout. They also said the annual request cap has been increased and that a tiered funding approach is being considered to help projects compete for federal dollars. Members expressed support for expanding investment in ports and for a statewide strategic plan. Chairman Boriak moved to accept the port priority applications received through March 1, 2026, for inclusion in the FY 2027-2028 program. There was no objection, and the committee accepted the projects. The meeting then adjourned without objection.

Transcript Highlights:

• However, developers should not be given special opportunities for new development, and that's what his
• However, developers should not be given special opportunities for new development, and that's what his
• It's a proven fact that the prefrontal cortex is not fully developed until age 25.
• It is also very similar to current exemptions for economic development projects.
• I’m familiar with site selection and economic development, and I understand it.

Summary: The committee took up a long agenda of retained bills and several new measures, with most receiving favorable reports after amendments. Major debate centered on CS/SB 706, which preempts airport naming to the state and designates Palm Beach International Airport as the Donald J. Trump International Airport subject to FAA and trademark-related conditions. Senator Jones offered amendments to avoid private royalty benefits, but both failed. Senators Berman, Osgood, Jones, and Pizzo spoke against the bill, raising concerns about naming an airport after a sitting president, lack of local input, and ethical issues; Senator Mayfield defended the bill as cost-free to the airport and noted the naming agreement. The committee ultimately voted the bill favorably. The committee also approved CS/SB 546 on conservation land notice requirements and CS/SB 1014 on municipal utility service to properties outside city limits, both with amendments and some opposition from the Florida League of Cities on the utility bill. Several other bills were heard and reported favorably with little controversy. CS/SB 1500 would streamline uncontested probate proceedings; SB 962 would exclude farms and farm operations from certain zoning definitions tied to affordable housing preemption; CS/SB 820 would strengthen reporting for problem-solving courts; SB 840 would revise portions of last year’s hurricane-related land-use law to narrow its scope and sunset temporary restrictions; and SB 856 would require online property listings to show estimated ad valorem taxes, with an amendment excluding social media platforms and broadening liability protections. SB 110 would clarify homestead exemption eligibility for 98-year or longer residential leases. SB 394 would exempt certain underwriting managers handling limited facultative reinsurance from licensure requirements, and SB 434 would prevent wind-hardening improvements from increasing assessed value for residential property tax purposes. The committee also advanced several public-safety and transparency measures. CS/CS/SB 658 and 608, a combined water-safety bill, would require safety features for rental properties with pools or nearby water bodies and authorize DBPR enforcement; supporters framed it as a response to Florida’s high child-drowning rates, and Airbnb waived in support. SB 748 would place constitutional language on restoration of voting rights on sentencing score sheets, with broad support from voting-rights and civil-rights groups. CS/SB 824 would require annual reporting of unimproved school-district land inventories, and CS/SB 848 would create a framework for off-site stormwater treatment and related credits, with support from builders and mitigation bankers. The committee also heard CS/SB 1036 on school counselors, which clarifies certification requirements and performance criteria after a delete-all amendment.

Transcript Highlights:

• They've locked in a site, and it takes away a bit of that competition in gamesmanship.
• The desire for sites has allegedly, or excuse me, allegedly led to unscrupulous competition for sites
• The desire for sites has allegedly, or excuse me, allegedly led to unscrupulous competition for sites
• One is the Outdoor Recreation and Development Association up at the Turtle Mountain Reservation that
• Adolescent development is all about building impulse control, which a lot of young people don't have.

Keywords: 908, all

Transcript Highlights:

• Consumers benefit significantly from various resale options in a dynamic and fiercely competitive online
• 15.640> Pro going after the robust and hopefully Pro going after the robust and hopefully Pro competitive
• > and<00:10:16.399> pro<00:10:16.640> consumer<00:10:17.079> online competitive
• and pro consumer online competitive and pro consumer online marketplaces<00:10:18.160> for<00
• contributions to um heavy development contributions to um heavy development and<00:58:06.520>

Keywords: 912, senate, all

Summary: The committee heard testimony on several transportation-related measures. SB 282 would increase penalties for using an uncrewed aircraft, or drone, in the commission of a felony. The Honolulu Department of the Prosecuting Attorney strongly supported the bill, saying drones are being used to facilitate crimes such as burglaries, sex offender registration violations, and even murders, and that the measure would create a stronger deterrent and address sentencing issues. Members discussed how drone use could be investigated and noted that a prior Uncrewed Aircraft Offenses Act already covers a range of drone-related offenses. Testimony also included support from a Kauaʻi County Council member and the Office of the Public Defender, and the bill was then set aside as the committee moved on. The committee also heard SB 1032 on campaign finance, which would amend restrictions on foreign nationals and foreign corporations making contributions and expenditures. Testimony was listed in support from labor, civic, and advocacy groups, with some opposition, but the measure was not debated further in the portion provided. SB 1160, a consumer protection bill on ticket resale, drew support from venues and event groups and opposition from the Chamber of Progress, which argued the bill should target scalpers and deceptive practices rather than legitimate resale platforms. The Attorney General suggested an amendment to limit the bill’s scope to Hawaiʻi events, citing Commerce Clause concerns. On SB 344, requiring skateboard users under 16 to wear helmets, the Department of Transportation, Honolulu Police Department, and the Kiki Injury Prevention Coalition supported the measure. SB 106, which would let pedestrians cross outside marked crosswalks when a reasonably careful pedestrian would see no immediate danger, drew mixed testimony: public health and equity advocates supported it as a safety and anti-profiling measure, while others opposed it, warning it could increase danger on wider, faster roads. Committee members questioned whether Hawaiʻi’s current law is more dangerous because pedestrians must step into the roadway before drivers are required to stop, and the discussion continued at length without a final vote in the excerpt. The committee also heard SB 10009 on accessible parking fines, with DCAB and DAGS supporting the intent; a member asked that any new fine revenue go to the state parking revolving fund. SB 820, shortening the vehicle title transfer deadline from 30 days to 14 days, drew opposition from the Public Defender and Honolulu Customer Services, who said the current deadline is reasonable and the bill did not clearly solve a problem. Later measures included SB 1095 on license plate decal restrictions, SB 215 on towing and immobilization fees, and SB 1117 on electric mobility rebates and age/helmet rules, which received support from transportation and safety groups, though the transcript cuts off before any final actions or votes on those bills.

Transcript Highlights:

• Department of Economic Development, Department of Economic Development, Tourism<00:13:58.959> in
• I put it in economic development.
• from economic [laughter] development. from economic [laughter] development.
• in developing Banyan Drive is foremost. in developing Banyan Drive is foremost.
• development. Chair delay. development. Chair delay.

Keywords: 912, senate, all

Summary: The committee first heard SB 2627, which would exempt Hawaii Tourism Authority contracts and agreements for sports projects, events, and related marketing from the state procurement code and other competitive bidding requirements. HTA, DBEDT, and the State Procurement Office testified in support or with comments, while one individual offered general support for sports tourism. Senators focused on narrowing the bill so the exemption would apply more specifically to sports-related projects and marketing, rather than broad marketing activities, and discussed whether the bill should require notice to the State Procurement Office or approval by the chief procurement officer. Procurement officials said a reporting requirement would be the most expeditious option, while still allowing post-event monitoring and public posting of exemptions. Members also discussed whether the exemption should be limited to situations involving sole-source sports entities, such as major leagues or international sports organizations, to better justify bypassing procurement rules. The committee did not take a final vote in the portion provided, but members and testifiers agreed to continue working on the language. The hearing then moved to SB 2074 relating to state facilities and naming rights for the Aloha Stadium and Hawaii Convention Center. The Stadium Authority, HTA, and DBEDT testified in support, while the Outdoor Circle and other organizations opposed the measure. Opponents argued the bill could create fiscal and legal risk, echoing concerns raised in prior legislation and by the attorney general, and warned it would mark a major shift by treating public facilities as commercial branding opportunities. Supporters said naming rights could generate significant revenue to help fund the stadium project and reduce the burden on the state and developers. Senators questioned how signage would be handled, especially whether it would be exterior-facing or limited to inward-facing signage, and the Stadium Authority said it was willing to work with the Outdoor Circle on language that would preserve community aesthetics while allowing revenue generation. A senator cited a prior study estimating naming rights could bring in about $1.5 million per year over 20 years, and asked what that revenue would buy for the public; the Stadium Authority responded that it would help advance the project toward a larger, improved stadium. No final action was taken in the excerpt provided.

Transcript Highlights:

• There was money for the fertilizer development incentive program from two sessions ago.
• The development of the grant management system is one of our major projects.
• First of all, our Lignite Research Marketing and Development Program.
• And each biennium, the research technology park shall develop a plan for the use of the funds.
• We are in development stage right now. We're finalizing contracts.

Keywords: 908, all

Summary: The committee received a compliance and status update on Industrial Commission programs and the Bank of North Dakota. Staff reviewed appropriations and spending for several Industrial Commission funds and grant programs, including lignite research, oil and gas research, clean sustainable energy, grid resiliency, salt cavern analysis, and the new NDSU research and technology park grant. Members discussed the timing of reimbursements, uncommitted balances, and the structure of the pipeline capacity and enhanced oil recovery funding. The Industrial Commission also reported on its administrative budget, grant management system project, and recent leadership transitions across several agencies. Karen Tyler of the Industrial Commission described active grant rounds and the status of major projects. She said the Clean Sustainable Energy Authority approved three projects in its sixth round, with remaining uncommitted cash and loan capacity still available, though no new funding was appropriated this session. She also said the Oil and Gas Research Council approved six enhanced oil recovery projects and expects additional funding after a federal Department of Energy award replaces one project’s state funding. For grid resiliency grants, she said some projects have been funded, some commitments were returned or reallocated, and some DOE funds remain pending. She also updated the committee on the salt cavern business case study, which replaced an earlier larger development proposal, and on the NDSU research park grant, where the nonmatching portion was paid and the matching portion has moved slowly because the match must be in cash. Ron Ness then gave an extended presentation on enhanced oil recovery and North Dakota oil and gas trends. He said production remains steady, but future growth depends on infrastructure, especially gas takeaway and projects like the Bakken East pipeline. He argued that enhanced oil recovery using CO2, natural gas, surfactants, and other methods could extend Bakken production for decades, but that the state needs more CO2 supply, better storage, and updated tax and regulatory incentives. Members asked about lateral lengths, CO2 availability, pipeline impacts, and the role of the Strategic Petroleum Reserve, and Ness emphasized that the projects are intended to share technical learning across operators and attract follow-on investment. The Bank of North Dakota then presented its compliance report and strategic update. President Don Morgan said the bank’s mission remains to support North Dakota agriculture, commerce, and industry while cooperating with the state’s financial sector. He reviewed the bank’s main business lines: participation lending with community institutions, student loans, disaster lending, mission-based programs, and a new fintech-focused effort. Morgan said deposits are flattening, so the bank is managing balance sheet growth carefully, while still reporting improved net income and strong efficiency. He also introduced Rough Rider Coin as a bank-to-bank payment rail, not a public cryptocurrency, intended to speed and modernize payments within North Dakota’s banking and credit union system. Committee members asked about student loan eligibility, disaster program use, and how credit lines and liquidity would be affected if deposits shrink.

Transcript Highlights:

• <00:40:57.480> the allow us to uh help develop the allow us to uh help develop the currently
• <00:42:53.760> and home funds Economic Development and home funds Economic Development and
• year communities and developers year communities and developers requested<00:54:48.400> over<
• <01:10:51.159> of would also fund development of would also fund development of Supportive
• <01:11:02.560> work developing work developing work skills<01:11:04.520> Minnesota<01:11

Keywords: 1187, senate, all

Transcript Highlights:

• interests have been trying to use the legislative process to come down here and wipe out their competition
• But when I reactivated the Greater Arizona Development Authority, we unlocked the opportunity for places
• We have approved over 60,000 single-family homes for development in the West Valley, with more to come
• We can craft water policy that protects our most precious resource while advancing economic development
• While advancing economic development and security, we can guarantee Arizona remains the best place in

Keywords: 1182, all

Summary: The transcript is the opening joint session of the Arizona Legislature’s 57th Second Regular Session, featuring remarks from House and Senate leaders and Governor Katie Hobbs. House and Senate leaders emphasized a conservative governing agenda focused on affordability, public safety, parental rights, accountability, school choice, election integrity, and water policy, while also highlighting plans for tax cuts and cooperation across chambers. Governor Hobbs centered her address on the “Arizona promise,” stressing affordability, security, and freedom. She highlighted prior actions on job growth, medical debt relief, housing, public safety, border security, water management, and economic development, and announced new proposals including a middle-class tax cut package, a capacity and efficiency initiative to save state funds, a new active management area for La Paz County, a Colorado River Protection Fund, elimination of the data center tax exemption, a housing acceleration fund, and an Arizona Affordability Fund funded in part by a short-term rental fee. She also called for more accountability in the ESA program and for renewing Prop. 123 to support public schools. The governor and legislative leaders also addressed political violence, honoring retiring Senator Lela Alston and recognizing public safety and firefighting personnel. No formal votes or legislative actions were taken in the session; it concluded with the joint session being dissolved after the governor’s remarks.

Transcript Highlights:

• So the 1776 presidential competition.
• developed by Wyoming educators. developed by Wyoming educators.
• <01:09:52.560> their through that book, they develop their through that book, they develop
• develop that education? develop that education?
• development. And that can be done. development. And that can be done.

Keywords: 916, all

Transcript Highlights:

• interested land development however interested land owners<00:51:15.520> routinely<00:51:16.040
• It just said that these lands will not be developed in the future to Blandin's purpose.
• The student loan educational assistance was developed by IRS Code Section 127 some years ago, and what
• educational assistance uh was developed educational assistance uh was developed by<01:02:51.920>
• <01:06:02.520> and<01:06:02.720> attract remain competitive and attract remain competitive

Keywords: 1187, senate, all

Transcript Highlights:

• So how do we develop policy that undoes the harms of colonization? Can the state do that?
• Since then, our program has focused on three areas: teacher development, developing teachers.
• We work specifically with school districts and develop MOUs with them.
• So we rely heavily on developing partnerships with school districts.
• In the current year, our goal is to continue working on developing embedded professional development

Transcript Highlights:

• The developer and home builder.
• Development projects were being confronted, usually at the last minute of a development project, being
• asked to pay for or develop these off-site costs.
• That's a benefit beyond just the new development.
• And bankroll the actual cost of development.

Transcript Highlights:

• Jill Clark, director of development. Angel Angel Toa, of development.
• program, several leadership development program, several leadership development program, several graduates
• The Economic Development Rellos. The Economic Development Rellos.
• development from middle school to that development from middle school to that development from middle
• Um so you competitive with their labor. Um so you competitive with their labor.

Bills: HJR 4, HJR 6, HB 195, HB 13, HB 143, HB 135

Keywords: occupation tax, securities, financial regulation, tax exemption, legislative amendment, capital gains tax, realized gains, unrealized gains, investment income, asset sale, capital assets, wealth tax, estate tax, trust tax, tax limitation, constitutional amendment, Texas Constitution, Article VIII, property tax, sales tax