Transcript Highlights:

• This bill simply helps to close that gap. So I'll give you a quick example.
• GPLET helps close the financial gap... ...those things to vertical density.
• GPLET helps close the financial gap of projects that are trying to build in the vertical nature.
• So the GPLET allows its rate of return to increase by 1% to 2%, which lets financing take place.
• The other states use a tool called tax increment financing to cause redevelopment to happen.

Bills: SB1090, SB1293, SB1414, SB1429, SB1503, SB1536, SB1633, SB1724, SB1764

Keywords: savings and loan, technical correction, Arizona Revised Statutes, financial institutions, prohibitions, GPLET, abatement, tax incentives, local government, property improvement, central business district, insurance, settlement demands, time limits, third-party claims, regulatory compliance, initiative, referendum, ballot measures, petition circulators

Summary: The committee first approved the February 2, 2026 minutes and held Senate Bill 1090. It then heard Senate Bill 1503, which would require pension fiduciaries and proxy advisory firms to act solely in the economic interest of plan participants and beneficiaries, prohibit ESG- or ideology-based voting, require disclosures and economic analyses in certain cases, and authorize attorney general enforcement. The sponsor said the bill was meant to protect investors and align with federal action. Testimony was mixed: a policy witness supported the bill, while representatives of ASRS and PSPRS said they were neutral but raised concerns about added costs, operational burdens, reporting requirements, possible conflicts with existing fiduciary duties, and increased litigation risk. After debate, the committee voted 4-3 to give SB 1503 a do-pass recommendation. The committee then considered Senate Bill 1293, which would prohibit GPLET school-district revenues from being abated during the eight-year abatement period. Supporters argued the bill would protect school funding and reduce state aid backfill costs, and a Goldwater Institute witness said it would also reduce gift-clause concerns by limiting subsidies that shift costs to other taxpayers. City and economic development representatives from Phoenix, Mesa, and the Greater Phoenix Economic Council opposed the bill, saying GPLET is an important redevelopment tool that helps finance projects in urban cores and that the change would reduce its effectiveness and slow revitalization. The committee adopted an amendment and then passed SB 1293 on a 4-3 vote. Next, the committee heard Senate Bill 1414, which gives insurers 30 days to review and respond to third-party settlement demands in bodily injury claims. Insurance representatives supported the bill as a commercially reasonable timeframe, while the Arizona Trial Lawyers Association opposed it, arguing that 30 days would become a minimum and could delay settlements for injured claimants; members discussed a possible 15-day compromise. The committee passed SB 1414 by a 5-2 vote. It also passed Senate Bill 1633, which creates an income tax subtraction for capital gains from the sale of a primary residence after a five-year residency; opponents warned it would mainly benefit wealthy homeowners and cost the state tens of millions annually, while the sponsor said it could help housing turnover. Finally, the committee passed SB 1429, as amended, allowing Senate and House leaders to designate board members for the Arizona Commerce Authority, SB 1536, which lets municipalities consolidate multiple street-light improvement districts, and heard SB 1724, which clarifies when property splits or consolidations trigger a limited property value recalculation to prevent tax-base manipulation.

Transcript Highlights:

• finance and policy bill. finance and policy bill.
• It also includes $2.7 million to fund a shortfall gap for the Fostering Independence grants, which will
• committee in the house, to and finance committee in the house, to all<00:08:10.720> of<00:08:
• He said they had a $235 million shortfall just last year, and they closed that gap through adding some
• We closed<00:10:07.080> that<00:10:07.280> gap<00:10:07.720> through<00:10:07.960

Keywords: 919, house, all

Summary: The House first took up a resolution commemorating Peace Officer Memorial Day and Police Week in Minnesota. Members read a series of “whereas” clauses honoring fallen peace officers, including the addition of three names to the Minnesota Law Enforcement Memorial Honor Roll, and recognizing the service of the state’s more than 10,000 peace officers. The resolution was adopted without objection. The chamber then moved to conference committee reports and calendar actions, including a Rules and Legislative Administration report placing several bills on the calendar for the next day. The main substantive item was the conference committee report on House File 4252, the higher education finance and policy bill. Supporters said the bill included $3 million for identity verification systems to combat enrollment fraud or “ghost students,” $2.7 million to cover a shortfall in the Fostering Independence grant program for foster youth, and $5,000 for tree replacement at Bemidji State University. They also noted the bill did not address the larger state grant shortfall, which several members described as a structural problem. During debate, supporters emphasized the need to stop enrollment fraud and protect foster students’ access to higher education, while also praising the conference committee process and public deliberations. Opponents criticized the bill for failing to fix the state grant deficit and argued that Minnesota students were not being prioritized. After discussion, the House adopted the conference committee report, gave the bill its third reading, and then repassed House File 4252 as amended by conference by a vote of 101 yeas to 33 nays.

Transcript Highlights:

• I'll call this Housing Finance and Policy Committee to order.
• That's a gap The region produced 16,000. That's a gap of<00:04:59.759> 20,000.
• city and private financing. city and private financing.
• :08.800> public Properties financed with layered public Properties financed with layered public
• Um and in a lot solve uh for that gap.

Bills: HF3425, HF3424, HF1385

Keywords: supportive housing, grants, housing assistance, funding, Minnesota Statutes, eviction, rent, nonpayment of rent, landlord-tenant, residential tenant, notice to quit, unlawful detainer, housing, lease violation, late fees, rental assistance, legal aid, tenant rights, Minnesota Statutes 504B.321, pre-eviction notice

Transcript Highlights:

• Okay, now I'll provide a summary of our funding gap analysis.
• Our approach to determine the annual funding gap is to...
• So the difference between those two is the gap.
• So the funding gap is large.
• ways to minimize additional growth of that gap and maximize return on investment.

Summary: The committee began with member introductions, then heard a presentation on a draft final report studying alternative funding mechanisms for sidewalks and related pedestrian infrastructure. Consultants said current local funding sources are insufficient, with most jurisdictions unable to complete planned sidewalk networks within 50 years. They evaluated four options: a sidewalk utility fee, a modified transportation benefit district sales tax, a new real estate excise tax option, and expanded stormwater fee use for ADA sidewalk ramps. The consultants recommended authorizing the modified TBD sales tax and new REET option, considering a sidewalk utility despite legal uncertainty, broadening any authorization to all pedestrian improvements, and not pursuing the stormwater fee option. Members asked about legal authority, fairness, revenue adequacy, and whether jurisdictions had been consulted; the presenters said state enabling legislation would likely be needed for a sidewalk utility and that fairness could be defined either by direct benefit or by need. The committee then received an update on the 2025 assessment of city transportation funding needs. The consultants reported that city transportation revenues have grown in some local and federal categories since 2019, but state revenues have remained relatively flat and smaller cities are especially affected by declining fuel tax revenues and limited tax bases. They estimated annual city transportation needs at $4.25 billion, average annual spending at $1.89 billion, and a funding gap of $2.37 billion, larger than in the prior study because of updated data, inclusion of system improvements, and higher preservation costs. Draft recommendations focused on reducing costs and improving efficiency, preserving and increasing state support, and expanding local funding options, including preservation-first spending, a permanent federal fund exchange program, streamlined review processes, better coordination with WSDOT, possible property tax flexibility, and exploration of new local tools. Members raised questions about design standards, the role of density and transit, federal compliance, and whether the report would identify specific consolidation or process changes. The committee also heard a project update on evaluating zero-emission vehicle and electrification programs funded by the Climate Commitment Act. Consultants said they had reviewed roughly 23 programs and projects across seven agencies and were now evaluating options to improve delivery, including process improvements, reorganizing programs, or consolidating governance and administrative functions. Early findings highlighted staffing shortages, duplication and variation across agencies, differing levels of risk, and the challenge of coordinating climate priorities across agencies with other core missions. Members asked about program outcomes, administrative costs, whether some programs should have exit strategies, and how to strengthen the EV Coordinating Council. Finally, WSDOT provided an implementation update on its new public-private partnership authority under SB 5801, saying work is underway to prepare governance, legal, policy, and organizational structures ahead of the January 1, 2027 effective date.

Transcript Highlights:

• > um<00:05:25.080> while finance and Senate Finance is um while finance and Senate Finance
• There's a big gap in terms of, you know, I guess, over the biennium.
• Those are really, really big gaps.
• That does not address the gap.
• That does not address the gap. That does not address the gap.

Keywords: 928, house, all

Summary: The committee heard a budget presentation from New Hampshire Lottery Director Charlie McIntyre and CFO Jim Durus. McIntyre said the Lottery has more than tripled its return to the Education Trust Fund since 2011, from $62 million to $207 million in FY 24, while keeping expenses relatively flat over time. He explained that the Lottery operates like a business, is heavily audited, and that the governor’s budget raises the FY 26-27 revenue estimate to $185 million, up about $12 million annually from prior estimates. He attributed FY 24’s unusually strong results to record Powerball sales driven by a spike in billion-dollar jackpots tied to higher interest rates, and said scratch tickets still make up most gross sales, though Powerball is the highest-margin product. Members questioned the Lottery about the difference between gross revenue and profit, the steep rise in operating expenses, and the reasons for requested budget increases. McIntyre said the main drivers were payroll, benefits, advertising, added regulatory responsibilities from expanded gaming, and a new Salesforce customer-tracking system. He also described requested capital needs, including an outdated security system, building access and ADA improvements, and upgrades to the front office for employee safety. He said the security system is still running on an old Windows 7-based setup and that the requested upgrade would modernize cameras and add redundancy. The discussion also covered staffing and gaming expansion. McIntyre said the Lottery has 84 employees including three commissioners, with 13 funded vacancies, and that it plans to fill positions as two new gaming rooms come online in Rochester and Derry. He said the Lottery’s revenue estimates were revised upward because sports betting in Massachusetts had less impact than expected and historic horse racing machines have been more profitable than forecast. He also explained the governor’s proposal to shift historic horse racing toward slot-style machines, saying the physical machines would look largely the same but the content and math would change, and that the state’s revenue share would increase under the proposal. No votes were taken; the committee mainly asked questions and received explanations about the Lottery’s budget and revenue assumptions.

Transcript Highlights:

• You know, I take school finance very seriously.
• Is I don't know that you mentioned it, but is there a gap between in the statewide a gap between what
• That's a pretty decent gap there.
• So, some of our school finance system in Texas is. enrollment based but the bulk of our school finance
• Yeah it's a method of finance so to the extent that so I think to the extent that that method of finance

Keywords: 1184, house, all

Transcript Highlights:

• The New Mexico Finance Authority was a natural for me.
• I have a strong background in finance, so it was a natural fit.
• How does it work between NMSU and the Board of Finance?
• So, Senator Duhigg, the Board of Finance...
• Marquita Russell from the New Mexico Finance Authority.

Transcript Highlights:

• Good morning, Amy Copeland, representing TEA School Finance.
• I want to ask about finance and special education.
• For the past 32 years, I've been working in school finance.
• I think it's important to note that the finances at a community college are different than finances at
• The gap between these funding numbers is coming from...

Keywords: 1184, house, all

Transcript Highlights:

• New Mexico Finance Authority in the Opportunity Enterprise Fund.
• Next is line number four to Mortgage Finance Authority.
• Finance Authority, to the Housing Trust Fund.
• This would put $20 million to the Mortgage Finance Authority, to the Housing Trust Fund.
• They said it would behoove them to be more practical with this type of financing.

Keywords: 996, all

Transcript Highlights:

• And again, this is from the TEA Statewide Summaries of Finance.
• It shows what that same summaries of finance-summary of finances shows. are the amounts of revenue given
• And this is also creating. increasing student learning gaps.
• Funding gap as well. Thank you.
• That's created a gap.

Bills: HB2, HB2

Keywords: public education, teacher compensation, certification, funding, school finance, educator rights, education funding, charter schools, staff compensation, state aid, retention allotment, disaster preparedness, emergency management, flooding, mass fatality, mass casualty, fatality tracking, body recovery, autopsy, justice of the peace

Transcript Highlights:

• In finance through education has been so simple.
• Senate Bill 350, do pass, and thus referred to the Finance Committee.
• Senate Bill 370, do pass, and that's referred to the Finance Committee.
• Senate Bill 445, do pass and thence referred to the Finance Committee.
• House Bill 89, do pass, and that's referred to the Finance Committee.

Transcript Highlights:

• [Music] I call this meeting of the House Housing Finance and Policy Committee to order.
• We know that financing sometimes just doesn't work.
• developers struggle to secure financing developers struggle to secure financing for<00:10:27.920
• <00:51:05.440> in we know there will be a value Gap in we know there will be a value Gap in
• loan and we've also um locked financing loan and we've also um locked in<00:51:34.559> a in a

Keywords: 1183, house

Transcript Highlights:

• Okay, now I'll provide a summary of our funding gap analysis.
• So the difference between those two is the gap.
• So the funding gap is large.
• ways to minimize additional growth of that gap and maximize return on investment.
• Is it trying to fill gaps, or is it... ...trying to fill gaps, or is it really trying to drive near-term

Keywords: 904, all

Transcript Highlights:

• Yes, George Harris, the Department of Finance.
• Christon Malhotra, Department of Finance.
• So we're kind of seeing a concern around a gap.
• Department of Finance. George Harris, Department of Finance.
• And I believe Department of Finance is going to, we'll start with Department of Finance, then LAO and

Summary: The joint hearing focused on California’s child care, preschool, and transitional kindergarten oversight, with chairs emphasizing the state’s Master Plan for Early Learning and Care and the need to break down silos between programs. CDSS and CDE reported progress toward the plan’s goals, including universal access to TK for all four-year-olds next school year, expanded access for low-income three-year-olds, and more children with disabilities being served in state preschool. They also noted ongoing work on quality rating/review reform, funding structure changes, and the need to address rates, workforce shortages, and federal uncertainty around Head Start. Testimony from advocacy groups and providers largely supported expanding access while simplifying the system. Children Now, Every Child California, and the California Budget and Policy Center argued that California still has uneven access, especially for infants, toddlers, and three-year-olds, and urged investments in mixed delivery, inclusion, full-day options, and a cost-of-care rate methodology. Every Child California recommended consolidating part-day and full-day contracts, streamlining eligibility priorities, making the two-year-old option permanent, and funding staffing incentives. Parent testimony highlighted how child care gaps and county-to-county transfer delays can disrupt work, safety, and children’s stability, and providers described low reimbursement rates, the need for health and retirement benefits, and support for delinking subsidy rates from private pay. The second panel addressed universal transitional kindergarten. The Learning Policy Institute reported rapid TK expansion, with most districts now offering TK, but said access still depends on facilities, staffing, and whether programs are available at all school sites. The Department of Finance said the governor’s budget would fully implement TK by adding funding for all eligible four-year-olds and lowering the adult-to-child ratio from 12:1 to 10:1. The Legislative Analyst’s Office said the administration’s enrollment and cost assumptions were optimistic and estimated lower TK enrollment growth and lower costs for the ratio change. CDE supported the expansion and urged continued funding for UPK coordinators, teacher development, and mixed-delivery planning grants. Members questioned facilities shortages, staffing competition, and how to ensure TK expansion does not displace CSPP or Head Start classrooms. No formal votes or actions were taken in the hearing.

Transcript Highlights:

• and their ability to finance affordable housing? Thank you for the question, Senator.
• HOME, as you know, it's another financing structure to allow deals to pencil out.
• And so it is a critical source of gap financing, and so it is important.
• What do we want that gap to look like? I'd, you know, 20% for land costs, 25%...
• You point to a year or a time where there was a healthy gap between building and buying?

Keywords: affordable housing, government investment, barriers, legislative solutions, public testimony

Summary: The committee meeting focused on addressing the significant issue of affordable housing in America. Members expressed concern over the persistent barriers faced in the housing sector, despite substantial government investment aimed at alleviating these issues. It was highlighted that government interference plays a critical role in complicating the housing landscape, and discussions revolved around potential legislative approaches to mitigate these challenges. Several witnesses provided testimony, contributing to a thorough exploration of the topic.

Transcript Highlights:

• Alameda Health System's governance, the Board of Supervisors and community stakeholders identified gaps
• Alameda Health System's governance, the Board of Supervisors and community stakeholders identified gaps
• So had you, did you look at remitting this through the gap in that?
• So had you look at remitting this through the gap in that?
• These costs routinely make otherwise feasible projects impossible to finance.

Summary: The Assembly Local Government Committee heard a long agenda of local government, housing, transportation, and public safety bills. Early items included SB 762, which would give certain local governments a voter-approved path to seek additional local sales tax authority to address fiscal pressures; SB 1400, which would modernize Alameda Health System governance and give Alameda County more flexibility and oversight; and SB 1408, which would authorize Contra Costa County to place a renewal of its transportation sales tax on the ballot. Supporters for those bills included local officials, county representatives, labor groups, fire and police organizations, and transit advocates, while no organized opposition was presented on those measures in committee. The committee also heard SB 1272, which would give homeowners more time to correct certain inherited code violations and allow an affidavit process for buyers who did not know about the violation at purchase. The bill drew support from the California Apartment Association and opposition from code enforcement and county groups, who argued it would reduce local enforcement discretion and create health and safety risks. After questions about disclosure and enforcement, the committee approved SB 1272 as amended and re-referred it to Appropriations. SB 1055, dealing with procurement flexibility for Pajaro flood control and levee repairs, also passed as amended and was sent to Appropriations. Later, the committee approved SB 1379, which would separate the Riverside County Sheriff-Coroner and create an independent medical examiner system. The author and supporters argued the change was needed for transparency and independence in in-custody death investigations, while opponents raised labor, cost, and governance concerns; some opposition was softened after the author agreed to employee-protection amendments. The committee also passed SB 1172, limiting consultant compensation and adding transparency rules for local tax-sharing agreements, and several housing bills from Senator Grayson: SB 1003 on pro-housing infrastructure financing districts, SB 1014 on early disclosure of infrastructure requirements for housing projects, and SB 1169 on extending tentative vesting map validity. The committee took votes on consent items and later add-ons, with most measures passing on bipartisan or unanimous votes and several being re-referred to Appropriations or Housing and Community Development as appropriate.

Transcript Highlights:

• Officer and finance director. We're very pleased that you're here.
• Good morning, Chair Small, members of the legislature, Finance Committee.
• So the answer is, sir, we won't close this gap just through education.
• There is a bit of a gap, but that gap that we would have at 10 years out, 85% of it or. 80% of it is
• To determine how we would finance and capitalize this project.

Transcript Highlights:

• So, closing that gap.
• So, closing that gap.
• So, closing that gap.
• So, closing that gap.
• There still is a $62 closing that gap.

Bills: HF2431, HF2438, HF2783, HF1943

Keywords: higher education, college affordability, student aid, state grants, North Star Promise, scholarships, financial aid, Minnesota State, University of Minnesota, Office of Higher Education, tuition relief, work-study, child care grants, hunger-free campus, food insecurity, student parents, pregnant students, parenting students, sexual misconduct, Title IX

Transcript Highlights:

• <00:26:55.360> and Wooder, director of finance and Wooder, director of finance and operations
• The compounding gap has become structural.
• education funds to cover the gap. education funds to cover the gap.
• We across all areas of public finance.
• Council member to do independent finance Council member to do independent finance information<01

Bills: HF3790, HF3654, HF3371, HF3470, HF1099

Keywords: education finance, lease levy authority, graduation ceremonies, school districts, Minnesota Statutes, local revenue, funding increase, education, state appropriation, local control, HF3371, local optional revenue, school finance, general education aid, school district funding, referendum revenue, referendum market value, equalization aid, state aid, property tax levy

Transcript Highlights:

• Allison Hewitt, Department of Finance. I'm not in a position... Department of Finance.
• Nicole Griffith, Department of Finance. Joshua Winters, Department of Finance. Nothing to add. LAO.
• Kayla Landman, Department of Finance.
• Okay, Department of Finance. Matthew Perkey with the Department of Finance. Nothing further.
• We are consistently working with the Department of Finance on what those gaps might look like in following

Keywords: 987, senate, all

Summary: The committee held an informational hearing on the Governor’s May Revision proposals for labor, public safety/judiciary, and transportation, and no votes were taken. In Part A on labor, the Employment Development Department reviewed proposals for EDD Next document management system funding, updated UI loan interest costs, disability insurance and paid family leave benefit and administration adjustments, WIOA funding changes, UI administrative and benefit changes, school employee benefit adjustments, an EMT training reappropriation, and a technical correction tied to EDD Next. PERB discussed funding tied to AB 28 and AB 1, including litigation-related workload and new jurisdiction over legislative employees. DIR presented proposals for legal unit reclassifications, two major IT modernization projects, a new Cal/OSHA emerging technologies unit, a COIA reappropriation, and trailer bill language on electronic assessment payments and the DWC director salary cap. CalHR proposed additional funding for a consolidated employee assistance program contract, and CalPERS and CalSTRS presented budget adjustments tied to investment costs and state contribution changes. Members focused heavily on UI debt and interest payments, asking the administration for a plan to reduce the outstanding loan and relieve employers. Finance said no specific repayment plan was included in the May Revision, while LAO said the state’s UI tax structure is structurally insufficient and that any debt payoff should be paired with tax-system reform. Senators also questioned EDD Next costs and timelines, PERB’s caseload and staffing needs, and DIR’s emerging technologies unit, with LAO noting that the unit would appear focused on physical workplace safety rather than broader AI labor issues. CalHR said the new EAP contract would consolidate services, improve access to clinicians, and lower costs relative to the current model. CalPERS defended higher external management fees as part of a strategy to pursue higher net returns, while some members pressed for more transparency about private investments; CalSTRS said it was not prepared to address investment-strategy questions at this hearing. Public comment in Part A was dominated by advocates urging support for an immigration enforcement emergency relief fund, along with comments supporting the Jails to Jobs proposal, the Apprenticeship Innovation Fund, and additional PERB funding. The chair noted that many of the immigration-related requests might fall under other committees and said staff would follow up. In Part B, Finance and LAO outlined judicial branch and DOJ May Revision items, including funding for court interpreter services, appellate court security, lactation room implementation delays, courthouse construction reappropriations, and DOJ budget increases. LAO recommended approving the language-access proposal with a report on reducing interpreter cost growth and reducing the General Fund backfill for state court facilities by $10 million on an ongoing basis.