Transcript Highlights:

• At the time that this was being considered, forecasters had a bleak picture for New Mexico's future in
• There was a forecast that New Mexico would see growing oil and gas revenues for a period of a handful
• Changes help us forecast what we anticipate. Thank you all for joining us today.
• we did again this Year based on forecasts for the last five years.
• And we are forecasting in the future of what our ask is going to be this year However, with what we've

Keywords: 996, all

Transcript Highlights:

• 12, a recognizing a double counting of some funds that in the fund balance that came out in the forecast
• accidentally counted forecast were accidentally counted twice.<00:02:27.280> Uh<00:02:27.599>
• February forecast.
• February forecast.
• <01:53:35.599> was we've t the entire budget forecast was we've t the entire budget forecast

Keywords: 1187, senate, all

Transcript Highlights:

• So we're in the middle of our budget creation process for '26 and '27, so we don't have forecasts yet
• yet for the we don't have forecasts yet for the upcoming<01:24:29.320> bium<01:24:30.320>
• I understand that forecasts get refined with new data all the time, but you should be able to... look
• understand the timing of your forecasts understand the timing of your forecasts right right right
• <01:27:47.159> on talking about the forecast on talking about the forecast on revenues<01:

Keywords: 928, house, all

Summary: The committee heard a presentation from the University System of New Hampshire chancellor on the system’s budget, enrollment, finances, workforce role, and response to federal policy changes. The chancellor said the governor’s recommended budget would reduce university system funding by about $16.5 million over the biennium, or roughly 8.3%, and asked that state funding be held at the governor’s level. She described planned cost reductions already underway, including lower headcount, reduced benefits and retirement contributions, property sales, and lease reductions, and said the system expects to remove about $20 million from its cost structure in fiscal year 2026. A large portion of the discussion focused on enrollment and finances. The chancellor said fall 2024 enrollment was about 23,000, with New Hampshire enrollment increasing for the first time since 2013, and noted that the system remains a major workforce pipeline, with about 3,000 graduates entering the state workforce each year. She explained that net tuition has fallen over time because of declining enrollment and increased financial aid, while research grants and contracts have grown significantly. She also walked through endowment funding, explaining that payouts are based on a 12-quarter rolling average and are intentionally smoothed to reduce volatility; members asked for follow-up information on payout comparisons, administrative salaries, headcounts, and compensation per student. Members questioned the university about the relationship between state support, tuition, endowments, and research spending. The chancellor said the system has used state capital support to leverage major investments, including the UNH Life Sciences building, Plymouth’s Hyde Hall, and the Olson Advanced Manufacturing Center, and described partnerships with businesses such as Lonza and regional manufacturers. She also explained a long-running New Hampshire 529-related revenue stream that has built endowment support for scholarships, and said the system’s endowment now totals about $988 million. In response to questions about possible cuts, she said the system is considering academic program sharing, consolidation of specialties, online delivery, AI-assisted administrative efficiencies, and footprint reductions, but declined to name specific programs. The committee also discussed DEI-related issues and federal grants. The chancellor said the system is reviewing executive orders and a U.S. Department of Education Dear Colleague letter, and that general counsel is working through websites, programs, and more than 1,200 federal grants to ensure compliance. She said the system spends about $3 million on what it calls DEI-related offices and services, but emphasized that these services include disability support, veteran support, Title IX, ADA, and employment-law compliance, and that the system does not have race-based programs, separate housing, or separate graduation ceremonies. She reported that the system had received stop-work orders on four federal grants totaling about $700,000 and warned that reductions in federal direct or indirect costs could affect research, jobs, and innovation.

Transcript Highlights:

• Those are usually picked up in the forecast, and I'd ask the LBO or Miss Mingi, is that usually right
• Those are usually picked up in the forecast, and I'd ask the LBO or Miss Mingi, is that usually right
• They're also not something that is captured in the state budget forecast.
• usually picked up in the in the forecast usually picked up in the in the forecast and<00:48:31.200
• And I think that's um just a a forecast.

Keywords: 919, house, all

Summary: The Legislative Budget Caucus Public Commission met with a quorum present, approved the September 3, 2025 minutes, and then heard a presentation from Legislative Budget Office Director Christian Larson on proposed updates to the fiscal note uniform standards and procedures. The main changes clarified that agencies must still complete a fiscal note when a bill or section cannot be implemented because of federal law, with the note explaining the implementation issue and costing only the portions that can be implemented. A second change said technical comments about possible future litigation may be included in the narrative but not in the cost tables. Members discussed how these rules would apply when only part of a bill is unimplementable versus when an entire bill is, and whether requiring a note in those cases is the best use of agency time. The commission also approved a new procedure on funding-source assumptions for expanded programs, including assuming the current funding source unless the bill says otherwise and defaulting to the general fund if no source is identified. The updated standards and procedures were adopted by a 7-0 roll call vote, with Senator Wickland excused. The commission then received a second presentation from Director Larson on a possible analysis of the accuracy of fiscal estimates and budget items after enactment. He described this as a variance analysis comparing fiscal note estimates to actual fiscal impacts, intended to improve future estimates, inform the legislature, and increase accountability. He summarized practices in other states, noting that most variance reviews are ad hoc, while Utah and Tennessee have more formalized legislative reports; he also referenced an LBO pilot review done in 2022 based largely on Tennessee’s model. The presentation outlined possible report formats, including a single annual report, standalone briefs, or topic-specific reviews, and raised implementation questions such as who would select items for review, whether the analysis should be limited to fiscal notes, what statutory authority or data access would be needed, and what resources would be required from both agencies and the LBO. Members did not take action on the second presentation. Representative Anderson and Vice Chair Pratt commented that the proposal is complicated but potentially useful for improving future fiscal notes and transparency, and the chair indicated the discussion was for future consideration rather than an immediate decision.

Transcript Highlights:

• The ISO New England region forecast The ISO New England region forecast regional electricity use increasing
• And national forecasts project record electricity demand in 2026 and 2027, driven in part by data center

Keywords: 926, house, all

Transcript Highlights:

• earlier as needing we um had forecasted earlier as needing to<00:22:02.640> cover<00:22:03.520
• You know, I think, as Nathan said, we have to forecast for all the facilities that we have, 72 or 76
• have to forecast have to forecast for<00:27:55.960> all<00:27:56.160> the<00:27:56.280
• <00:28:22.600> on<00:28:23.240> on is fairly accurate uh forecasting on on is fairly
• accurate uh forecasting on on something<00:28:23.760> that<00:28:23.920> is<00:28:24.040

Keywords: 1191, senate, all

Transcript Highlights:

• And so, when the revenue forecast was done, there was no real adjustment for loss of revenue in the forecast
• That means that when the governor built his budget, he built it on that revenue forecast.
• <00:29:02.640> was<00:29:03.080> done, when the revenue forecast was done, when the
• that was done in revenue in the forecast that was done in July.<00:29:13.080> It's<00:29:13.200
• When we got back that revenue forecast.

Keywords: 927, senate, all

Transcript Highlights:

• Um, this is basically our forecast adjustment bill.
• That forecast fully funds statutory formulas under current law.
• align with the February uh 26 forecast. align with the February uh 26 forecast.
• > statutory That forecast fully funds statutory That forecast fully funds statutory formulas<01
• It doesn't have anything to do with the forecast bill. Okay, thank you. All right, thank you.

Keywords: 1187, senate, all

Transcript Highlights:

• That includes the large load forecasting, 5573 large load interconnection standards, net metering and
• Great." forecast to a realistic number. 5898 >> And we need to put them in statute, it looks like, I
• The criteria that we're talking about for this improved forecast, that they're meeting those criteria
• So the fact that there is a forecast of a lot more demand coming and the potential for bring-your-own
• error support to 6270 services today, which is to provide essentially forecast error support to 6271

Summary: The Senate Committee on Business and Commerce held its first interim hearing on securing critical infrastructure and supply chain integrity, with a focus on Texas’s electric grid and the Lone Star Infrastructure Protection Act. The chair also highlighted Texas’s relatively low electricity prices and welcomed new committee members. ERCOT, the Public Utility Commission (PUC), and the Attorney General’s office were invited to explain how the state screens market participants and grid equipment for ties to China, Russia, Iran, and North Korea, and how the agencies respond to noncompliance. ERCOT testified that it has implemented the requirements of three related Senate bills by requiring attestations on corporate affiliations and on critical grid equipment and services. ERCOT said it has processed thousands of attestations, used additional requests for information and third-party verification tools such as Dun & Bradstreet, and terminated nonresponsive market participants. ERCOT also said it has not seen a case requiring direct Attorney General involvement, but it does refer matters to the PUC when needed. The PUC said it can investigate suspected violations and impose penalties of up to $1 million per violation per day, and that most investigations into late or missing attestations have been resolved through compliance, market exit, or removal by ERCOT. The Attorney General’s office said its role is currently limited to audits and court involvement, and that it lacks broad independent investigatory authority under the act. Members pressed the panel on whether the current system is too reliant on self-reporting and whether it adequately addresses indirect foreign influence, especially through supply chains for batteries, inverters, transformers, and other equipment with routable connectivity. ERCOT acknowledged that the current attestation process has gaps and said it plans to refine definitions of critical grid equipment and grid services, improve information requests, and continue stakeholder rulemaking. The panel also discussed possible legislative changes, including tying prohibitions to the Department of Defense Section 1260H list and the Texas Prohibited Technologies list, clarifying warranty and service access, and expanding the statute to cover grid services more directly. Several senators raised concerns about cost, reliability, and the extent to which foreign-sourced components remain embedded in Texas infrastructure, while others suggested incentives for domestic manufacturing and stronger verification tools, including possible work with national labs such as Sandia.

Transcript Highlights:

• base that was issued in the February forecast.
• additional $30 million over the forecast additional $30 million over the forecast base<00:01:54.560
• And in the tales fee for forecast.
• um directed in the February forecast um directed in the February forecast base.<00:02:08.080>
• And then the target in years 28 and 29 was no change from the February forecast base.

Bills: HF2300, HF2432, HF2445, HF2443, HF2439, HF3023, HF1615, HF2563

Keywords: HF2432, judiciary finance bill, public safety finance bill, corrections policy, crime victims, victim services, Minnesota victims of crime account, court fees, marriage license fee, financial crimes, fraud investigations, insurance fraud, Bureau of Criminal Apprehension, BCA, Commerce Fraud Bureau, wage theft, automobile theft prevention, nonprofit security grants, 911 funding, POST Board

Transcript Highlights:

• make an estimate and you could forecast make an estimate and you could forecast where<04:25:13.439
• So this is the challenge you have as far as forecasting the future.
• <04:26:40.640> the you have as far as forecasting the you have as far as forecasting the future
• That's why we're not forecasting any drop in poverty, so in that way we're being conservative.
• But we don't forecast any charter schools closing.

Keywords: 928, house, all

Summary: The Finance Division II committee heard a Department of Education budget presentation from Commissioner Frank Edelblut and CFO Tammy Valen-cour. The department outlined its organizational structure and emphasized that it functions largely as a flow-through agency for school funding. The commissioner reviewed general fund and Education Trust Fund items, including state aid, dropout prevention, special education, building aid, lease aid, charter schools, Education Freedom Accounts, and the district adequacy calculation. He also highlighted the public school infrastructure fund, saying the state has invested well over $50 million in school safety since 2018 for measures such as access controls, locks, and window film, and argued that safety spending should be ongoing rather than reactive. Members asked about the variability in the school infrastructure line, special education aid, and the Discovery Education learning platform. Edelblut explained that some safety funding had come from one-time surplus appropriations rather than the agency line, and said special education aid was underappropriated because districts submitted more invoices than expected; he said the governor added $16 million to address the shortfall. He also described CTE renovation funding, noting four projects were initially proposed but only Jaffrey and Milford were still moving forward, with local votes required and the state covering 75% of costs. He said Milford’s project was omitted from the governor’s budget by oversight. The department also reviewed enrollment trends, noting public school enrollment has fallen from about 230,000 students in 2002 to about 185,000 today. Edelblut clarified that charter students are not eligible for Education Freedom Accounts, while EFA students attending non-public schools are counted as EFA students. He described several one-time surplus-funded initiatives, including Student Clearinghouse, MTSSB work, civics curriculum development, computer science education, and adult education. He also discussed a $4 million CTE tuition and transportation grant, saying it was kept as a competitive grant rather than a formula grant to avoid creating an ongoing maintenance-of-effort commitment that could jeopardize federal Perkins funding. In the final portion, Edelblut identified prioritized needs in the department’s budget, especially funding for a state administrator for assessment to support the legislatively required civics assessment, and additional support for the Discovery Education platform. He said every school in the state is using the platform and cited more than 1.5 million educator engagements, while a member raised concerns about mixed reviews and uneven district awareness of the program. No votes or formal actions were taken during the presentation and question period.

Transcript Highlights:

• electric utilities, integrated resource plan, State Corporation Commission to investigate electric load forecast
• remained largely the same, and it was a directive to the SCC to initiate a proceeding to review load forecast
• It was a directive to the SCC to initiate a proceeding to review load forecasting practices by utilities

Keywords: March 14, 2026 - Regular Session Part 4, 976, house, all

Transcript Highlights:

• On line 207, you see the base that was in the February forecast, and on line 208, the governor had spent
• is on line 209; we are $50,000,000 in this biennium and $50,000,000 in tails above the February forecast
• decisions you must make are difficult, especially when presented with the challenge of the budget forecast

Transcript Highlights:

• This bill is the Health and Human Services Forecast Adjustments Bill.
• in the two forecasts since the end of the '25 session.
• It simply implements the forecast.
• . forecast forecast programs<00:14:27.880> appropriations programs appropriations programs appropriations
• It simply implements the forecast.

Bills: HF2136, HF4195, HF4548, HF4432, HF4174, HF3024, HF4389, HF3773

Keywords: youth intervention, grants, community support, early intervention services, nonprofit, Minnesota human services, forecast adjustment, budget forecast, appropriations, Medical Assistance, MinnesotaCare, Health Care Access Fund, general fund, behavioral health, housing support, General Assistance, Minnesota Supplemental Aid, MFIP, DWP, child care assistance

Transcript Highlights:

• So that was back in '23 that we forecast this with so many variables. We did our best.
• <00:48:47.960> biennium<00:48:48.600> based forecast for this current biennium based forecast
• , And if if this this again, our forecast, And if if this this again, our forecast, I'm<00:48:55.359
• <00:49:16.120> this was back in 23 that we forecast this was back in 23 that we forecast this
• We try to forecast to, I don't think.

Keywords: 958, all

Summary: The meeting opened with the pledge and prayer, a roll call established quorum, and members announced a Veterans Caucus meeting to follow the session. The committee also recognized distinguished veteran Joe Mash Masterson of Bardstown, who was praised for his Army service, long-time advocacy for veterans, and leadership in the American Legion and local veteran organizations. Masterson thanked his family, the American Legion Post 121, and the VA staff, and several members offered remarks honoring his service and the committee’s practice of recognizing veterans. The committee then briefly addressed a referred administrative regulation, 017 KAR 001 030, which leadership described as technical updates to existing policy; no vote was taken. After that, members heard testimony from KDVA and Finance and Administration officials on the ongoing HVAC replacement project at the Radcliffe Veteran Center. Officials said the system had been problematic for years, that design work began early to accelerate the project, and that the work was complicated by the need to replace the system in an operating nursing facility. They explained that the project was bid in March, awarded to Less Mechanical, and that protective measures, shop drawings, and equipment orders were underway. Committee members pressed officials on why the problem had taken so long to resolve, why the original system had been installed, whether the issue had been communicated regularly, and whether the state should be paying for a replacement in a relatively new facility. Officials said the original system’s components and warranties had failed, that they had tried to replace parts before moving to a full replacement, and that the system’s manufacturer and quality differed from a similar facility in Glasgow that had not had the same issues. They said the current phase one contract was about $6 million, with the remaining funds held for phase two to restore full occupancy; phase two design was nearly complete and could be bid later if funding is approved. Officials estimated phase one completion around January 2026 and full completion around March 2027, depending on funding and scheduling.

Transcript Highlights:

• As the forecast came in for this particular event, May 16th and then ultimately into the 17th overnight
• in for this Uh, as the forecast came in for this particular<00:10:33.600> event,<00:10:34.079
• in in every county and our guys forecast in in every county and our guys were<00:10:55.200> were<
• Uh one of the things that<00:10:59.360> was<00:10:59.600> forecast<00:11:00.000> with
• <00:11:00.240> this<00:11:00.640> uh that was forecast with this uh that was forecast

Keywords: 00:00:39 Roll Call 00:02:57 Severe Weather Damage 00:39:00 Work Zone Safety 00:47:12 Local Assistance Road Program 01:10:18 Admin. Regs 01:15:37 Aviation Impact Study, 958, all

Summary: The committee’s first interim meeting opened with roll call, a quorum, and a briefing from Transportation Cabinet officials on the Cabinet’s response to severe weather and tornadoes in Kentucky, especially the May 16–17 storms that caused deaths and widespread damage in Pulaski and Laurel counties, with an additional tornado noted in Washington County. Secretary Jim Gray, State Highway Engineer James Ballinger, and District 11 engineer Chris Jones described how crews in all 120 counties were placed on alert, how roads were cleared of debris, and how KYTC coordinated with emergency management, law enforcement, local governments, and utilities to restore access and power. They reported major impacts on roads, signals, and other infrastructure, including the EF4 tornado path through Pulaski and Laurel counties, and said KYTC also helped with debris hauling, airport cleanup, and delivery of water and meals. The officials gave specific recovery figures for Laurel County, including 1,800 loads of construction and demolition debris hauled, about 11,000 tons and 22,000 cubic yards removed, with roughly 50% of vegetative debris cleared at that point. They said all state roadways in Laurel County were reopened, the London-Corbin Airport was returned to flight operations by Sunday, and a transition plan was underway for Laurel County Fiscal Court’s contractor to take over debris operations. Gray also noted that KYTC had helped issue replacement IDs, licenses, registrations, and titles at no cost in disaster areas, and said the Team Kentucky Storm Relief Fund had raised nearly $1.5 million from more than 6,000 donors. Members praised KYTC staff as first responders and thanked them for their quick response and coordination. Several legislators recounted local impacts in Washington, Pulaski, and Laurel counties, including blocked roads, rescue challenges, looting concerns, and the scale of property damage. One member asked how KYTC inspects bridges and infrastructure after disasters to check for hidden damage, and officials said the process depends on the event and can include bridge inspections and checks of tall infrastructure such as light poles. No votes or formal committee actions were taken during the discussion.

Transcript Highlights:

• amendment updates the budget reserve account floor, essentially, that sets the amount that every forecast
• to check to ensure that the budget reserve has reached before any surpluses are provided in any forecast
• 00:42:51.960> amount<00:42:52.760> that<00:42:53.640> every<00:42:53.960> forecast
• sets the amount that every forecast sets the amount that every forecast needs<00:42:54.880> to
• provided in any forecast. provided in any forecast.

Keywords: 1187, senate, all

Transcript Highlights:

• And this forecast is based on the estimated life of each of the assets.
• And this uh forecast<00:05:12.320> is<00:05:12.639> based<00:05:13.039> on forecast
• is based on forecast is based on uh<00:05:15.520> the<00:05:15.840> estimated<00:05:16.720
• question for you though. >> As I look on page six, the some of your 30-year capital expenditure forecast
• expenditure forecast. expenditure forecast.

Keywords: 0:00:02 Call to Order and Roll Call 0:00:30 Approval of Minutes 0:00:49 Information Items 0:01:54 Louisville Arena Authority 0:24:50 Project Rpt from Postsecondary Institutions - MSU 0:26:35 Project Rpt from Finance and Admin. Cabinet 0:37:52 Lease Rpt from Finance and Admin. Cabinet 0:40:13 Rpt from OFM – KIA 0:56:00 Rpt from OFM – EDF Grants 0:58:45 Rpt from OFM – OFM 1:01:46 Adjournment, 958, all

Summary: The committee first handled routine business, including a roll call, approval of the prior meeting minutes, and a set of informational reports. Those reports covered University of Louisville research equipment purchases, a Kent County school district debt issue for elementary school renovations, the University of Kentucky’s planned use of construction management risk for a new engineering building, APA certification reports for underwriter and bond counsel selection committees, and a KCNA status report on infrastructure upgrades and purchases. The main presentation was an informational update from the Louisville Arena Authority. Board representatives said the arena was created to drive economic development and reported about $1.4 billion in economic impact from 2010 to 2013. They explained the authority’s financial structure, including arena operating revenues, TIF revenues, debt service, and a long-term capital plan for major repairs and replacements. Members questioned the low net revenue figures, the long timeline before TIF revenues are projected to exceed debt service, the size of capital expenditure spikes, and the University of Louisville revenue-sharing arrangement. The authority said the $2.42 million annual UL payment is fixed under a 2017 refinancing agreement, while other amounts vary with ticket sales and related revenues. They also said the COVID-era state and Metro funds, combined with authority cash, were used to prepay debt and reduce interest, lowering the debt service schedule. The committee then considered and approved a new capital project for a new HVAC system for the student wellness center pool area. The project, presented by university staff, was approved by the board and required committee action. The committee took a roll call vote, and the project passed unanimously. Finally, Janice Thomas of the state budget office presented two tourism, arts, and heritage cabinet grid resilience projects at Kincaid Lake State Resort Park and Kentucky Down Village State Resort Park. Each project costs $7,834,600 and is funded mostly by a federal grid resilience grant, with the remainder from state utility infrastructure replacement funds and energy policy funds. Staff explained that the projects will move park electrical service ownership and maintenance to regional utilities, allowing the state to exit the infrastructure-management role while continuing to pay utility bills through normal metering. The committee approved the action item by voice vote.

Transcript Highlights:

• Weather forecasting models, you can say that it's going to rain with 70, 80% chance of rain tomorrow,
• Weather forecasting models, you can say that it's going to rain with 70, 80% chance of rain tomorrow,
• Weather forecasting models, you can say that it's going to rain with 70, 80% chance of rain tomorrow,
• Weather forecasting models, you can say that it's going to rain with 70, 80% chance of rain tomorrow,
• :47:03.760> say<00:47:03.920> that forecasting models, you can say that forecasting models

Keywords: Meeting start: 00:00 Roll call: 00:05 HB 227 discussion: 01:10 HB 227 voting: 49:38, 958, all

Summary: The committee met with a quorum to consider House Bill 227, a time-sensitive measure focused on social media use by minors. The bill sponsor, Rep. Matt Lockett, and supporters including counsel for Alliance Defending Freedom, the Attorney General’s office, and the Family Foundation argued that social media is addictive and harmful to children, contributes to mental health problems and exploitation, and that the bill would give parents more control while regulating addictive features rather than banning speech. Supporters said the bill is narrowly tailored, content-neutral, and designed to withstand constitutional scrutiny; the Attorney General’s office said it would defend the bill if challenged and described ongoing multi-state litigation against major platforms. One committee member also described seeing inappropriate AI-generated content on a 16-year-old’s phone as an example of the problem the bill seeks to address. Opposition testimony came from the Foundation for Individual Rights and Expression, NetChoice, and the Computer and Communications Industry Association. They argued the bill raises First Amendment concerns because it conditions minors’ access on parental consent, regulates how private platforms communicate with users, and could function as a de facto speech ban. They also warned that the age-estimation requirement could force platforms to collect more sensitive data, creating privacy and security risks, and that the ban on “addictive features” was overly broad and could sweep in personalized feeds, notifications, autoplay, and other common tools. Opponents said the bill could especially harm vulnerable youth who rely on online access for community or safety information and urged the committee to craft a constitutional alternative. During questions, members asked how the state could enforce the law against national companies and were told enforcement would come through the Attorney General within Kentucky and potentially through multi-state litigation. Members also discussed the bill’s practical effects, including advertising revenue from youth users and the need for guardrails to protect children. The discussion continued with questions about the bill’s scope, parental consent, age estimation, and liability provisions, but no final vote or other committee action was shown in the excerpt.

Transcript Highlights:

• We forecast every year this at the Farm Bureau Convention there in Louisville.
• So we are forecasting a little over eight billion dollars for 2025, and we're forecasting about the same
• > at<00:08:35.519> the<00:08:36.159> uh<00:08:36.880> Farm forecast every
• year this at the uh Farm forecast every year this at the uh Farm Bureau<00:08:37.519> Convention<
• So<00:08:40.000> we<00:08:40.240> are<00:08:40.479> forecasting<00:08:41.279>

Keywords: Meeting Start 00:00:00 Attendance Roll Call 00:00:18 University of Kentucky Department of Agricultural Economics Presentation 00:02:18 Farm Credit Mid-America Presentation 01:12:41, 958, all