Transcript Highlights:

• This change reduces all the permitting fees by 20% across all valuations, along with reducing the installation
• This change reduces all of the permitting fees by 20% across all valuations.
• The board voted to reduce the building permit fee table by 20% for all valuations.
• This decrease... ...voted to reduce the building permit fee table by 20% for all valuations.

Committee: Senate Commerce and Human Resources

Transcript Highlights:

• new section to Chapter 57-02 of the North Dakota Century Code, relating to limitations on taxable valuation
• This bill limits taxable valuation increases of a property to not more than 3% per year of the prior
• This bill limits taxable valuation increases of a property to not more than 3% per year of the prior
• year's valuation, unless a ballot measure to increase. of the prior year's valuation, unless a ballot
• And House Bill 1176 that we passed earlier has a 3% cap on levies instead of valuation.

Summary: The Senate met with a quorum present and handled a mix of conference committee appointments, appropriations bills, policy bills, and House amendments. Early in the session, the chamber appointed conference committees for SB 2399 and for House-amended SBs 2213 and 2354, and also named conference committees for HB 103, HB 1308, and HB 1169. The Senate then took up several appropriations measures, including HB 1612, which creates the North Dakota Center for Aerospace Medicine at UND; the Senate adopted an amendment shifting the funding to a one-time $250,000 Community Health Trust Fund appropriation with a required $250,000 match from other sources, and the bill passed 39-7. HB 1193, the “Back the Blue” grant, was amended to make the funding one-time and focus on officer retention, then passed 41-5. HB 1329, a government spending database proposal for school districts, was amended into a legislative study and passed 42-4. HB 1020, the water budget, received extensive amendments reducing and reallocating funding across major water projects, adding studies and oversight changes, and passed 45-0 with the emergency clause. HB 1581, a tribal tourism grant, also passed 40-6. The Senate rejected HB 1330, which would have authorized divestment from direct investments in Chinese companies; after debate over the prudent investor rule, trade impacts, and whether the bill singled out one nation in law, it failed 20-26. HB 1534, limiting property valuation increases, and HB 1266, adjusting the disabled veterans property tax credit, both failed unanimously or nearly so after committee recommendations against them. HB 1566, which would have created a regulatory framework for a product discussed as kratom, was amended on the floor to convert it into a study and then passed 31-15. The chamber also passed HB 2241 on charter schools after a House amendment changed the funding formula to the statewide average from the prior year, and HB 2022, the indigent legal counsel budget, after House changes added funding flexibility, offset lost fee revenue, and included a study on a public defender office. The Senate concurred in several House amendments and then passed a number of Senate bills. SB 2375, allowing joint negotiations between dental providers and insurers under Attorney General oversight, passed 44-2. SB 2251, clarifying that open records requests during state audits should be referred to the audited agency, passed 46-0. SB 2159, related to nuclear energy research, passed 43-3 after House amendments required Industrial Commission approval and consultation with the radioactive waste advisory council. SB 2155, changing gratis antelope license rules, passed 30-16 after debate over landowner rights and tag distribution. SB 251, setting fees and an audit for the Private Investigative and Security Board, passed 44-2. SB 2280, the prior authorization health insurance bill, passed 43-3 with a House-added study and consumer protections. SB 2023, the Racing Commission budget, passed 41-5 after a House change made internship funding one-time. SB 2232, changing prenatal substance exposure reporting requirements and related toxicology rules, passed 44-2. SB 2241, authorizing public charter schools, passed 39-7. The session ended while the Senate was still processing SB 2022’s final passage vote, but the bill had already cleared concurrence on House amendments.

Transcript Highlights:

• So balancing it all out would be, you know, for an actuary to answer.
• So balancing it all out would be, you know, for an actuary to answer. President of Hart.
• The bill revises employer contribution rates for the normal costs and the unfunded actuarial liability
• of the Florida retirement system as determined by the July 1, 2024 annual valuation necessary to fund

Summary: The House convened with prayer, the Pledge of Allegiance, and a quorum present, then adopted the special order report and moved into a series of budget-related bills. The chamber first took up HB 5011/SB 2506 on environmental resource management and natural resources funding, where Democrats argued the bill would reduce recurring support for the Resilient Florida program, the Florida Wildlife Corridor, invasive species removal, and other conservation efforts. Supporters said the change would shift money from recurring to nonrecurring funding so the Legislature could reassess priorities each year and rely more on private-sector stewardship. After a strike-all amendment and conference posture change, SB 2506 passed 97-12. HB 5013, reducing state-funded property reinsurance reserves, passed 108-0, and HB 5501, redirecting documentary stamp tax distributions from housing and transportation trust funds into general revenue, passed 82-26 after extended debate over its impact on affordable housing and transportation funding. The House also passed HB 5015 on state group insurance, which requires DMS to develop a formulary management system and was described as producing significant savings; members raised concerns about prescription access and implementation, but the bill passed 109-0. HB 5201 on state financial accounting and HB 5203 on the Capitol Center both passed unanimously, as did HB 5009, which creates a Florida Accountability Office and reorganizes audit functions. The chamber then passed HB 7031, a major sales tax reduction bill lowering the state sales tax rate and several related rates; supporters framed it as permanent relief for all Floridians, while opponents said property tax relief would be more meaningful and that the sales tax cut would also benefit tourists and out-of-state visitors. HB 7031 passed 112-0. The House then began consideration of HB 501, the proposed fiscal year 2025-26 budget, totaling $112.9 billion and emphasizing reduced recurring spending and large reserves. Subcommittee chairs outlined their budget silos: K-12 education at $20.6 billion with teacher raises, school hardening, literacy, transportation stipends, and security funding for Jewish day schools; health care at $47 billion with full Medicaid and KidCare funding, opioid settlement spending, mental health beds, and senior services; transportation/economic development at $18.5 billion; agriculture and natural resources at $5.8 billion with reduced Everglades spending but continued water, resiliency, and land management funding; higher education at $8.7 billion; state administration at $2.9 billion; justice at $7.3 billion; and IT at $529 million for Florida PALM, FX, and other systems. Members then began questioning the K-12 budget, focusing on FEFP funding, proration, voucher growth, stabilization dollars, mental health and school safety funding, and whether districts would be held harmless under the proposed allocations.

Transcript Highlights:

• The legislature created the Office of Actuarial Services within ESD to report annually to the Advisory
• ESD recommends exploration of adopting an actuarial premium rate and shifting to an actuarial rate-setting
• The report also recommended using a forward-looking rate-setting approach that is based on actuarial
• Based on the office's annual report, and third, beginning in 2030, the actuarial report must provide
• This bill will move the rate-setting mechanism in paid leave to a forward-looking actuarial model.

Bills: SB6014 , SB5972 , SB5869 , SB5874

Committee: Senate Labor & Commerce

Keywords: pregnancy accommodations, pregnant workers, workplace accommodations, reasonable accommodation, undue hardship, lactation, breastfeeding, express milk, maternity leave, childbirth, pregnancy discrimination, employment law, labor and industries, L&I, confidential records, public records exemption, health care certification, workplace standards, employee rights, employer obligations

Transcript Highlights:

• And they say they're numbers we got from our actuary. That's great. That's all on your side.
• I would prefer to have our own actuary. What I'm hoping happens is nothing.
• What I'm hoping happens is we get an actuary.
• We have our own actuary that can meet at least twice a year, but more often if necessary, and through
• I would just say that I believe that our actuary may find different things than theirs do.

Committee: Senate Health Policy

Summary: The Health Policy Committee heard and advanced several health-related bills. SB 1546 on background screening for athletic coaches was explained as another extension of the deadline for coaches to be added to the background screening clearinghouse; it passed favorably with support from athletic and youth sports organizations. SB 958 on type 1 diabetes early detection was amended to match the House version, requiring the Department of Health to provide school districts, school boards, and charter schools with informational materials for parents; it was reported favorably as a committee substitute. CS/SB 1070 on electrocardiograms for student athletes drew extensive discussion about sudden cardiac arrest prevention, implementation timelines, costs, funding through private and public sources, and whether insurance, KidCare, or Medicaid should cover screenings; after supportive testimony from school and athletic groups, it was reported favorably as a committee substitute. The committee also heard SB 1060, which would create a joint legislative oversight committee for Medicaid managed care to review encounter data, financials, audits, and rebate calculations with assistance from an actuary and the Auditor General. The sponsor and several senators framed it as a transparency and verification measure in response to large mid-year Medicaid funding increases and concerns about network adequacy and vertical integration; it passed favorably. CS/SB 944, which shortens the insurer overpayment recovery look-back period for claims involving psychologists from 30 months to 12 months, also passed favorably with support from the Florida Psychological Association. SB 1370, moving ambulatory surgical centers into their own statute rather than under hospital licensure provisions, was supported by surgery center representatives and reported favorably. The committee approved SB 768, as amended, to narrow the foreign-country-of-concern licensure attestation for health care entities to direct controlling interests and clarify the “reasonable efforts” standard; it passed after questions about how the standard would work in practice. SB 1544 on opticianry prompted significant debate over whether the bill would limit nonlicensed staff in ophthalmology and optometry settings; after a proposed amendment was withdrawn and multiple witnesses spoke both for and against, the bill was temporarily postponed. Finally, the committee adopted a strike-all amendment to SB 1808 requiring health care practitioners and facilities to refund patient overpayments within 30 days, with enforcement through AHCA fines or professional discipline, and then reported the bill favorably.

Transcript Highlights:

• requires a report to be provided by the county auditor reporting each taxing district’s property valuation
• And so even though their valuation grew enough to make them eligible, because they weren't at that 60
• It was the change in valuation from the estimate to the actual.
• That was not an approved reason to get gap funding because of that change in valuation.
• So next year they can actually go up 4% if their valuation allows that, if the increase in their valuation

Committee: Joint Tax Reform and Relief Advisory Committee

Transcript Highlights:

• I've asked, I want my own actuary to work with to show the total cost of all these things that we're
• Only an actuary can show you that total cost of care.
• I've asked, I want my own actuary to work with to show the total cost of all these things that we're
• Only an actuary can show you that total cost of care.
• The speaker said he can prove it by showing what actuaries say and by understanding insurance.

Committee: House Appropriations

Summary: The House Appropriations Committee met on April 27 and first took up House Bill 175 and its companion House Bill 165, both dealing with lottery proceeds for veterans. HB 175 was amended to create a Veterans Service Grant Board within the Department of Veterans Affairs and direct $500,000 annually from Louisiana Lottery net proceeds into a Veterans Service Grant Fund, with unused money returned to the lottery proceeds fund that supports the MFP. Supporters, including the bill sponsor, The Boot Louisiana, LDVA Secretary Charlton McGinley, and Bastion Veterans Organization, argued the grants would help veteran services, workforce placement, mental health, housing, entrepreneurship, and retention of veterans in Louisiana. Members raised concerns about drawing from lottery proceeds that traditionally support education, but the committee adopted amendments and reported HB 175 favorably as amended. HB 165, the constitutional amendment companion, was also amended for technical and ballot-language changes and then reported favorably as amended for voter consideration. The committee then considered House Bill 457, which would authorize the Louisiana Department of Health and the State Fire Marshal to set minimum housing standards for homeless shelters, group homes, and halfway homes. The sponsor said the bill responded to a state auditor recommendation and to unsafe conditions in some facilities; he also explained an amendment changing the Fire Marshal’s duties from mandatory to permissive to reduce fiscal impact and allow agencies flexibility. Some members questioned whether local standards already existed and how enforcement and funding would work, while others supported the need for statewide minimum standards for human housing. The committee adopted the amendment and reported HB 457 favorably as amended. House Bill 488, by Representative Brough, sought to create a Belle Chasse Bridge Merit-Based Special Fund using recurring severance tax revenues from Plaquemines Parish to help buy out the Belle Chasse toll bridge and end what the sponsor described as excessive tolls and fees. He and several local witnesses, including business owners, a YMCA representative, and a parish council member, testified that the tolling arrangement had harmed access, businesses, and quality of life. The committee adopted a technical amendment clarifying the revenue source and then reported HB 488 favorably as amended. House Bill 566, which would prohibit state funds from supporting net-zero greenhouse gas initiatives tied to the 2022 Louisiana Climate Action Plan, drew significant debate over whether it would interfere with agency funding and economic development efforts; the sponsor argued the plan lacked legislative approval and should be repudiated, while members urged caution and suggested hearing from affected agencies. The sponsor agreed to consider deferring the bill, and the committee did not advance it at that time. House Bill 603, a constitutional amendment authorizing investment of state funds in digital assets and precious metals, was discussed as a way to hedge inflation and preserve value; members asked about limits and safeguards, and the bill was reported favorably. The committee then began hearing House Bill 763, a transparency measure creating a public database for settlement agreements involving state agencies.

Transcript Highlights:

• I've asked, I want my own actuary to work with to show the total cost of all these things that we're
• If you actually have an actuary...
• I've asked, I want my own actuary to work with to show the total cost of all these things that we're
• Only an actuary can show you that total cost of care.
• Only an actuary can show you that total cost of care.

Bills: HB165 , HB175 , HB198 , HB272 , HB457 , HB488 , HB566 , HB603 , HB763 , HB902 , HB909 , HB971 , HB981 , HB1066 , HB1125 , HB1154 , HB1231

Committee: House Appropriations

Keywords: HB165, lottery proceeds, Lottery Proceeds Fund, Veterans Service Grant Fund, constitutional amendment, veterans, military veterans, veterans' benefits, veterans services, family support, state lottery, education funding, Minimum Foundation Program, problem gambling, compulsive gaming, state treasurer, ballot proposition, constitutional referendum, lottery revenue, Louisiana resident veterans

Transcript Highlights:

• And even if you're doing extra, which some might say we're doing right now beyond the actuarial rate,
• So whatever the actuarial rate is, which I forget what the actuarial rate is—29%, something probably
• Now, if the board changed the funding policy back to what it historically has been with the actuarial
• This is an increase based on increases in health care costs and actuarial projected increases.
• This year, the actuaries were telling us, projecting a 13% increase trend.

Committee: House Budget

Transcript Highlights:

• That means that We're actuarially sound. That definition of actuarial soundness is in statute.
• And unfortunately, that analysis from our actuary did create some confusion.
• That means that we would be no longer actuarially sound.
• Lastly, headcount is part of your actuarially soundness determination.
• Sorry for the abbreviation there, that's Unfunded Actuarial Accrued Liability.

Committee: House Appropriations

Transcript Highlights:

• That's actuaries, um, uh, staff.
• </c> in the case of Medicaid actuarial in the case of Medicaid actuarial services.<00:30:59.919><c> We're
• a whole team of actuaries and do that<00:31:02.720><c> work.
• And to me, for the actuarial services.
• </c> &gt;&gt; to um to certify from an actuarial &gt;&gt; to um to certify from an actuarial standpoint

Summary: The committee first approved the June 9 minutes, then reviewed a deferred personnel contract involving workers’ compensation claims administration. Staff explained that the roughly $50 million figure included about $48 million for claims payments and up to $1.45 million per year for administrative services, with billing based on a fee schedule for specific services rendered. Senator Meredith raised concerns about the vendor’s history, the scoring and bid process, and prior allegations involving the company; the administration responded that the procurement had been conducted under 45A through open competition, with outside scorers and no finding of wrongdoing tied to this contract. Meredith moved to disapprove Contract 167, Hart seconded, and the committee voted 5-2 to disapprove it. The committee then deferred a Western Kentucky University personal services contract because the vendors were still not registered with the Secretary of State’s office. Hart moved to defer the contract until the August 2026 meeting, Meredith seconded, and the motion carried. The committee also approved the agenda covering the various contract lists and deferred items. Next, the committee heard from the Cabinet for Health and Family Services on several personal services contracts for medical staffing and related services. Secretary Steven Stack and staff explained that staffing shortages often require outside vendors, that the contracts were competitively bid under 45A, and that the cabinet uses a streamlined vendor pool for specialized needs such as actuaries, auditors, and technical consultants. The committee approved Contracts 52 through 55 without objection. Discussion then began on Contract 61, with Meredith expressing concern that the committee lacked enough detail to judge whether the services could be performed in-house or whether the exchange of resources was appropriate; Stack said the contract was intended to provide efficient access to specialized outside expertise. The transcript cuts off before a final vote on Contract 61 is shown.

Transcript Highlights:

• I mean, yes, it goes into the calculation, and the actuaries have fun deciding what it is, but if we
• But if they didn't do the actuary with that in there, then that would make the actuary incorrect, maybe
• that's why the actuary is different than what you think it is. years of creditable service that part
• incorrect maybe that's why the actuary incorrect maybe that's why the actuary<00:33:10.960><c> is</c
• </c><00:35:34.320><c> are</c> different that but if the actuaries are different that but if the actuaries

Summary: The committee reviewed selected House Bill 2 provisions, focusing first on the group two pension reform language and whether it matched prior legislation and the fiscal note. Members discussed two main issues: the treatment of extra and special duty pay in the pension calculation for employees hired before 2011, and the annuity multiplier after 15 years of creditable service. Several members said the HB 2 language was intended to restore prior law and protect against pension “spiking,” while others worried the draft and fiscal note may not have fully reflected current law, potentially affecting the cost estimate. The discussion repeatedly emphasized the need to avoid underfunding or double counting and to make sure Finance had the correct actuarial assumptions. No vote was taken; the committee agreed to flag the issues for Finance and to clarify the fiscal note. Members also discussed the vested-rights language, which was described as an explicit definition of vesting and a restriction on future legislative changes to compensation calculations after three years of service. Some viewed it as a policy protection with no immediate fiscal impact, while others noted it had been included in prior legislation and should be clearly understood before the bill moved forward. The committee also briefly referenced prior pension legislation, including House Bill 436 and House Bill 727, and noted that HB 2 was being used to carry forward related pension repair provisions. The committee then turned to an OPLC-related section transferring building, plumbing, electrical, and fuel gas inspector positions from OPLC to the Department of Safety’s Fire Marshal’s office. Testimony explained that the nine inspector positions are funded from the licensing fund, and that the move was justified as a public-safety function better aligned with the Fire Marshal’s mission because the inspections are statewide code-enforcement work rather than facility-specific licensing work. The discussion ended with a note that the remaining HB 2 changes run through 2034 and a brief announcement about memorial arrangements for C.J. Gerard.

Transcript Highlights:

• So this grant is looking at the equalized valuation per FNR pupil, and so it's property over poverty,
• So this grant is looking at the equalized valuation per FNR pupil, and so it's property over poverty,
• So this grant is looking at the equalized valuation per FNR pupil, and so it's property over poverty,
• Um, if that number is under 1.64 million, you get an equalized valuation...
• </c> that's measured as equalized valuation that's measured as equalized valuation per<01:03:49.920><

Summary: The Department of Education’s Bureau of School Finance provided an adequacy-funding training for Division II, led by Mark Mello. He walked the committee through the adequacy formula using Albany, Allenstown, and Alton as examples, explaining average daily membership, base adequacy aid, and differential aid for free/reduced-price meals, special education, and English language learners. He also noted a recent change requiring home-education differential aid and emphasized that these aid streams are generally unrestricted district funding rather than money tied to specific students or programs. A major focus was the ongoing litigation over the adequacy base amount and the statewide education property tax, or SWEPT. Mello explained the historical basis of the current base amount, the 2008 legislative report that set the original methodology, and the later court ruling that the adequacy amount should be $7,356, which is now before the Supreme Court. He also described how SWEPT currently raises a fixed statewide amount of $363 million and how that revenue is used to offset the state’s adequacy obligation. For the example towns, Albany and Allenstown receive state adequacy grants because their SWEPT revenue is below their calculated adequacy cost, while Alton is an excess SWEPT community because its local SWEPT revenue exceeds the cost of adequate education. The discussion then turned to the pending “excess SWEPT” issue in the Supreme Court and what would happen if excess collections had to be remitted to the state. Mello said the Department is preparing a hypothetical walkthrough and explained that, if the court upholds the Superior Court ruling, DRA would likely be directed to collect excess SWEPT. Members raised concerns about whether SWEPT must be used for educational purposes and about the cash-flow burden on towns if money had to move from municipalities to the state and then back to districts. Mello and members discussed possible administrative workarounds, such as credits against other state aid distributions, and noted that the committee would continue reviewing the mechanics if the court decision comes down during budget work.

Transcript Highlights:

• and the Actuarial predictions have been pretty spot on.
• So, the actuaries come to us, they give us a range of estimates.
• Because the actuaries had new claims data that had come through in December and provided updated numbers
• So, the closer we get to the next fiscal year beginning, the newer claims data that the actuaries have
• I can give you historical and actuarial evidence that will support a 10.1 or a 22.2 utilization growth

Transcript Highlights:

• Rates are set using actuarial principles and must be designed to limit fluctuations and encourage accident
• Senate Bill 6136 requires L&I to publish the actuarial indicated rate for each workers' compensation
• If L&I limits the maximum premium rate increase for any class below that actuarially indicated rate,
• And basically, it's last year, L&I had an actuarial rate that was an average of 13%.
• Last year, L&I had an actuarial rate that was an average of 13%.

Summary: The Labor and Workplace Standards Committee held public hearings on several Department of Labor and Industries request bills and related workplace measures. Senate Bill 6039 would allow L&I to send notices electronically with an opt-out option; Senator Curtis King and L&I supported it as a simple modernization and the committee heard no opposition. Senate Bill 6136 would require L&I to publish actuarially indicated workers’ compensation rates and explain when rates are capped below those levels; Senator King and employer groups described it as a transparency bill, while L&I said it would disclose how reserve funds and rate caps affect different classes. Senate Bill 6188 would expand L&I’s authority over asbestos certification rulemaking beyond rules specifically required to match federal standards; Senator Victoria Hunt and L&I argued this would strengthen worker safety and training, while the Building Industry Association raised concern about diverging from federal rules and asked for narrower authority. Senate Bill 6014 would create a Public Records Act exemption for people involved in pregnancy-accommodation complaints or investigations and fix a cross-reference in last year’s pregnancy accommodation law; Senator T’wina Nobles and Moms Rising said it would restore intended protections and privacy for pregnant and postpartum workers. The committee also heard testimony on Senate Bill 6058, which would give L&I discretion to investigate wage complaints under the Wage Payment Act and assess penalties for willful violations when it initiates an investigation; L&I supported the bill and noted a House amendment to reduce costs and avoid conflict with another wage-recovery measure. For Senate Bill 6136, hospitality, construction, and self-insured employer representatives all supported the measure as a transparency step, with the self-insurers noting the impact of PTSD presumptive claims on rate classes. For Senate Bill 6188, L&I said the bill would let the department set stronger certification standards for asbestos workers and supervisors, while BIAW argued the bill should be limited to specific EPA model standards rather than removing the current statutory limitation. In executive session, the committee took action on five bills. On Engrossed Second Substitute Senate Bill 5061, which requires annual prevailing-wage adjustments in public works contracts, an amendment allowing change orders for wage increases over 5% failed, a one-year effective-date delay was adopted, and the bill passed 7-2 as amended. Substitute Senate Bill 5874, allowing ESD to waive penalties for minor unemployment-insurance reporting errors, passed 9-0. Senate Bill 5944, making missed-appointment payments part of bargained compensation for language access providers, passed 9-0. Substitute Senate Bill 5972, expanding binding interest arbitration for correctional officers in city and county jails, rejected two amendments that would have limited the binding effect and required consideration of local fiscal ability, then passed 8-1. Engrossed Substitute Senate Bill 6302, addressing misclassification of independent contractors on public works projects, passed 9-0. The committee then adjourned.

Transcript Highlights:

• It clarifies the medical loss ratio treatment for actuarial and insurance accounting stability, and it
• for actuarial and insurance accounting<00:18:07.160><c> stability,</c><00:18:08.240><c> and</c><00:18
• It adds actuarial and operational guidelines.
• It adds actuarial and operational this.
• It adds actuarial and operational guidelines. guidelines. guidelines.

Committee: House Commerce and Consumer Affairs

Transcript Highlights:

• So 722 relates to House Bill 329 that we did last year, moving some utilities over from a valuation property
• If it was a valuation and a county had a new substation built there, that would increase the valuation

Committee: House Revenue and Taxation

Transcript Highlights:

• The valuation of the house would still be the same. Yes, sir. >> So, Mr.
• is still the bottom line but the tax is still the same.<00:03:50.319><c> The</c><00:03:50.640><c> valuation
• The valuation of the house would same.
• The valuation of the house would still<00:03:52.319><c> be</c><00:03:52.480><c> the</c><00:03:52.720>

Summary: The joint conference committee on House Bill 45 met to reconcile changes to the long-term homeowner property tax exemption. Members reviewed the original bill, which removed the exemption’s sunset, adjusted the signup/reporting date and procedures, clarified treatment for homeowners who sold one house and bought another, changed valuation language from assessed value to fair market value, and added a $3 million cap. The committee also discussed Senate amendments and a proposed cleanup amendment intended to prevent stacking the long-term homeowner exemption with a separate voter-approved homeowners’ property tax initiative if that initiative becomes law. Members asked about the difference between using “shall not qualify” versus a repealer, and were told the repealer was removed to avoid creating a trigger-bill issue if the initiative does not pass. Questions also focused on whether the catch title’s “limitation” language referred to the $3 million cap, and it was explained that the language could apply both to the cap and to the restriction on using both exemptions. One senator asked what Senate language was being deleted, and the response was that the committee was removing language that had gone too far, including a 25% exemption provision that was outside the scope of this bill and would be handled later in the interim. After discussion, the committee moved to concurrence. A roll call vote was taken, and all six members present voted aye. The committee announced concurrence and adjourned.

Transcript Highlights:

• share, the ability to benefit from economies of scale, and then exit the investment for a higher valuation
• c><00:04:40.639><c> higher</c> exit the investment for a higher exit the investment for a higher valuation
• > Theoretically,</c><00:04:42.880><c> PE</c><00:04:43.280><c> firms</c><00:04:43.680><c> can</c> valuation
• Theoretically, PE firms can valuation.

Transcript Highlights:

• Our actuaries explored various alternatives to mitigate this challenge, including a late enrollment penalty
• Our actuaries explored various alternatives to mitigate this challenge, including a late enrollment penalty
• c><00:19:29.720><c> you</c><00:19:29.840><c> a</c><00:19:30.000><c> 39-page</c><00:19:30.919><c> Actuarial
• </c> and they gave you a 39-page Actuarial and they gave you a 39-page Actuarial report<00:19:32.000>
• > are</c><00:37:46.640><c> providing</c><00:37:47.640><c> uh</c> Of appraisers who are providing valuation

Bills: HF2335 , HF2400 , HF2401 , HF2522

Committee: House Commerce Finance and Policy