Video & Transcript : 'actuarial valuation' :

Page 26 of 114
MO

Missouri 2026 Regular Session

Local Government Mar 25th, 2026

Local Government, Elections and Pensions

Transcript Highlights:
  • The salaries, the base salaries, are based upon assessed valuations, and this has not been changed for
  • : this base is so similar to the prior bases that were several years ago... ...that the assessed valuation
  • As the bill sponsor mentioned, it's based on assessed valuation.
  • Well, assessed valuations have changed dramatically in the last 45 years.
  • And say, oh, well, we've added $100 million in assessed valuation.
Summary: The committee first met in executive session and unanimously voted Senate Substitute for Senate Bill 914 and House Committee Substitute for House Bill 3467 due pass. HB 3467 was amended before passage; the sponsor said the changes clarified that any tax authority would apply only if a tax change is actually approved, corrected county/city references, and fixed ballot-language issues involving sheltered workshops. Members generally praised the sponsor’s work, though one member noted concern about shifting more burden to sales taxes. The main public hearing was on H.J.R. 107, which would place before voters a constitutional question allowing Jackson County to consider separating Kansas City from the county or otherwise altering its charter government. Sponsor Rep. Steinmeyer argued the measure was about voter sovereignty and local control, citing prior Jackson County ballot measures and saying entrenched local power had blocked reform. Supporters echoed that Jackson County residents were frustrated with representation, taxes, and county governance. Opponents, including Kansas City and chamber representatives, argued the proposal was unnecessary, costly, procedurally unclear, and potentially destabilizing; several members also questioned the 10-year resubmission clause, the exclusion of local officials from the transition process, and the statewide fiscal impact. No action was taken on the resolution during the hearing. The committee then heard Senate Substitute for Senate Bill 975, dealing with ambulance district mergers and community paramedic/mobile integrated health services. Senator Black and supporters said the bill would help struggling rural ambulance districts merge without disrupting billing, contracts, or service, and would expand community paramedic care for low-acuity patients and hospital-at-home models. Several witnesses from ambulance and fire districts described successful programs and said the bill would improve patient care and help rural areas. Opponents, including ambulance and fire district representatives, supported the merger provisions but objected to Senate-added language they said would let districts provide community paramedic services across jurisdictional lines without memorandums of understanding, undermining local control and negotiating power. The hearing ended with testimony still ongoing after a recess for floor session; no vote on SB 975 was reported in the transcript.
CA
Transcript Highlights:
  • That is on an actuarial smoothed basis, meaning that we smooth investment earnings over five years.
  • That is on an actuarial smoothed basis, meaning that we smooth investment earnings over five years.
  • Finally, the bill does have to have an actuarial study or the COLA, excuse me, before it is granted.
  • SARA's actuary produced four cost studies.
  • SARA's actuary produced four cost studies with various pension COLA options, ranging from $30 million
Summary: The Senate Labor, Public Employment and Retirement Committee heard and advanced several bills covering workers’ compensation transparency, public pensions, prevailing wage, workplace harassment training, and employee benefits. AB 1048 would require disclosure of the contract justifying reduced workers’ compensation payments to medical providers; supporters said it would improve transparency without changing reimbursement rates, while opponents argued the problem was overstated and existing dispute remedies were sufficient. AB 1601 would give Sonoma County flexibility to target a cost-of-living adjustment for retirees rather than requiring an all-or-nothing COLA; county and union witnesses said retirees have gone without a COLA since 2008 and have lost purchasing power, and the bill passed unanimously. AB 1439 would commission a UC Berkeley study on labor standards in pension-funded real estate and infrastructure projects; labor groups supported it, while local governments, housing, and industry groups opposed it, and it passed on a 4-1 vote after one senator voted no in committee. The committee also heard AB 1697, which would delay implementation of a prior law restricting certain employment debt and pay-to-quit arrangements until 2027; the author said the delay would give employers, including professional sports leagues, time to adjust, while a financial services group sought a further delay to 2028. AB 1803 would require anti-hate speech content in existing workplace harassment training for employers with five or more employees; supporters cited rising antisemitic and other hate incidents and said the bill would help workers recognize and report hate, while opponents raised First Amendment concerns and argued existing harassment law already covers hostile conduct. AB 2120 would extend Los Angeles Unified’s selective certification hiring authority and allow retention of specialized employees in layoffs, and AB 2292 would bar providers from charging administrative fees for disability insurance and paid family leave certification forms; both drew support and were advanced without opposition testimony. AB 1198, the Fair Pay for Construction Workers Act, would require prevailing wage to be based on the time work is performed rather than the date a project is advertised for bid. Labor and contractor supporters said the current rule can lock in outdated wages and underpay workers on long projects and change orders, while cities, counties, and contractor groups warned it would create uncertainty, raise costs, and jeopardize projects funded by fixed grants or bonds. After testimony and questions, the committee voted to send all of the bills forward, with final recorded votes later showing unanimous or near-unanimous approval and several measures placed on call before the committee adjourned.
OK

Oklahoma 2026 Regular Session

Retirement and Government Resources Feb 10th, 2026

Retirement and Government Resources

Transcript Highlights:
  • We do have some actuarial data on this that shows it still is going to have a bit of a hit to the fund
  • I think we have some struggles on some of the actuarials as we did on the last one, because those actuarials
  • And so we need to make sure we're looking at what those actuarials state.
  • I think we have some struggles on some of the actuarials as we did on the last one, because those actuarials
  • And so we need to make sure we're looking at what those actuarial state.
Bills: SB1415 , SB1714 , SB1962 , SB26 , SB172
Summary: The Committee on Retirement and Government Resources heard several bills dealing with state employment, purchasing, and retirement policy. Senate Bill 1415, by Senator Brooks, would prohibit nondisclosure agreements when a state employee resigns or is terminated, with exceptions for statutorily protected confidentiality such as physician or attorney privilege. Members questioned how the bill would interact with whistleblower protections and sensitive information, but the bill passed 6-1. The committee then considered Senate Bill 1714, by Senator Jett, which would expand an existing state employee suggestion/incentive program to encourage agencies to identify cost savings and efficiencies, require agencies to review recommendations in good faith, and report back on accepted or rejected ideas. Members raised concerns about open meetings, employee notification, written documentation of suggestions, and possible disputes over the value of savings. The author agreed to work on amendments, the title was struck, and the bill passed as amended 5-2. Senate Bill 1962, by Senator Bullard, would move certain purchasing exemptions out of statute and into the administrative rules process so exemptions must be periodically renewed and justified. Supporters said this would reduce personality-driven exemptions and improve oversight, while concerns were raised about ongoing needs and emergency situations. The bill passed unanimously 7-0. The committee also passed Senate Bill 26, which would allow retired teachers to return to work after a 90-day break with a salary set by local districts and a 3% contribution back to the retirement system, and Senate Bill 172, which would tie cost-of-living adjustments for pension systems to funding benchmarks and a rolling average, rather than legislative discretion; both bills passed, with SB 26 passing 7-0 and SB 172 passing 6-1. The chair noted the committee expected at least one more meeting and hoped to finish the following week.
TX
Transcript Highlights:
  • Institutions must obtain an actuarial opinion from a credentialed actuary.
  • the financial integrity of self-funded student health plans and ensure they are backed by sound actuarial
  • Institutions must obtain an actuarial opinion from a credentialed actuary.
  • the financial integrity of self-funded student health plans and ensure they are backed by sound actuarial
  • Institutions must obtain an actuarial opinion from a credentialed actuary.
NH

New Hampshire 2025 Regular Session

Senate Election Law and Municipal Affairs (02/18/2025)

Election Law and Municipal Affairs

Transcript Highlights:
  • Yeah, so per is already there, so we've got $1,000 tax rate, $1,000 equalized valuation.
  • Right. impact number per $11,000 of equalized impact number per $11,000 of equalized valuation<00:21:
  • which is how your tax rate set valuation which is how your tax rate set yeah<00:21:51.120><c> so</c>
  • </c><00:22:01.520><c> her</c><00:22:01.840><c> $1,000</c><00:22:02.840><c> of</c> equalized valuation
  • her $1,000 of equalized valuation her $1,000 of equalized<00:22:03.880><c> valuation</c> right All right
TX

Texas 89th Regular

89th Legislative Session May 10th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • So if you take 29 years, if actuarial soundness is 31 years, and we're adding...
  • Almost, we're well past actuarial soundness. No, I'm sorry, Representative.
  • Actuarial soundness is no more than 31 years.
  • So we would basically be saying then we are committed to keep TRS actuarially sound.
  • Actuarial information, I guess, from TRS that the fund will be sound. Correct.
KY
Transcript Highlights:
  • <00:10:18.720><c> analysis</c> actuarial analysis actuarial analysis um<00:10:20.880><c> where</c><00
  • </c><00:31:06.399><c> This</c> actuarial analysis of negligible.
  • This actuarial analysis of negligible.
  • </c> will say, is there an actuarial will say, is there an actuarial calculation<00:37:04.720><c> of<
  • ><c> determined</c> And additionally, the actuary determined And additionally, the actuary determined
Summary: The committee heard testimony from Rep. Ashley Tackett Laferty on a bill to extend minimum line-of-duty hazardous duty retirement benefits to certain CERS and KERS non-hazardous members who are injured in the line of duty and cannot return to that work. She used a video and examples from Eastern Kentucky first responders, including a deputy who lost a leg and an emergency management director who lost an eye, to argue that some injured officers and responders fall through the cracks because their employers did not elect hazardous-duty coverage. She said the proposal would provide 25% of pay to the disabled officer, plus 10% for dependent children and minimal health benefits, and noted estimated actuarial costs of about $2.9 million for CERS and $0.542 million for KERS, funded through small employer-rate increases. Members asked how far back the bill would reach, how many people might qualify, and whether the benefit would apply only to active employees or also to past injuries. Laferty said the bill would include a five-year window for recent situations and could potentially cover a total of 3,333 positions statewide that could be certified as hazardous, though benefits would only apply if the person was injured in the line of duty and disabled from returning to that work. Questions also focused on whether a non-hazardous employee could qualify if injured in a hazardous situation; Laferty said yes, if the position could be certified as hazardous, but only for the bill’s minimum benefits. Rep. Josh Calloway and others noted that local governments choose whether to pay the higher hazardous-duty contribution rates, which they said often drives the coverage decision. The committee then heard Rep. Daniel Gberg present a separate bill revising school leave rules so teachers and school employees may use accumulated sick leave to observe religious holidays not on the school calendar, with a required personal statement and advance notice. He said the change would address a longstanding inconsistency for teachers who observe non-Christian holidays and currently may have to choose between unpaid leave or improperly using sick days, and he said prior concerns about retirement service credit and maternity leave were reduced by other policy changes. The discussion ended without a vote, with members indicating they had the relevant materials and that the bill would be revisited later.
NH
Transcript Highlights:
  • </c> typical land valuation. typical land valuation.
  • . valuation. valuation.
  • That's all just part of the valuation of the property. >> Right. Okay.
  • That's the way That's the way valuation.
  • </c> part of the valuation of the property. part of the valuation of the property. &gt;&gt; Right.
Summary: The meeting opened with a quorum present and approval of the April 17 minutes. The commission then heard a presentation from attorney Jacob Rhodes of Cleveland, Waters and Bass on the history and legal basis of New Hampshire’s timber tax, explaining that timber was historically treated as part of real property, that a 1913 case confirmed that view, and that a 1949 constitutional amendment created a separate timber yield tax to discourage clear-cutting and support forest conservation. He described the tax as a tax on the yield when timber is severed, not an income tax, and noted that towns are reimbursed through a system based on Department of Revenue Administration market data and local reports of cut. Members and guests asked how “yield” is defined, how the timber tax interacts with current use, and whether carbon sequestration could be treated similarly. Testimony explained that current use generally is not affected by harvesting timber, that towns can tax standing timber under RSA 79:5 but rarely do because it is labor-intensive, and that carbon credits might be valued using a similar market-data approach. Several speakers discussed a prior bill drafted with DRA input that would have treated carbon more like timber, but noted it never fully advanced in the General Court and that the version ultimately discussed by the House differed from the earlier DRA-comfortable draft. The discussion also covered whether carbon sequestration agreements are effectively long-term leases or transfers of timber rights, with Rhodes suggesting that 99-year arrangements could be taxable transfers of real property under DRA rules, though he had not reviewed specific agreements. DRA staff said they do not currently have a timber-like survey mechanism for carbon and would likely need access to proprietary market data or a subscription service to build one. No formal vote was taken beyond approving the minutes; the commission appeared to agree to revisit the carbon/timber valuation issue and the draft bill at a future meeting.
CA

California 2025-2026 Regular Session

Senate Insurance Committee Jun 24th, 2026

Transcript Highlights:
  • Also, the argument that this prediction is unfair or not actuarially sound breaks down because the bill
  • Also, the argument that this prediction is unfair or not actuarially sound breaks down because the bill
  • still allows for underwriting based on genetic. ...actuarially sound breaks down because the bill still
  • What I would say is that we are currently bound by, when we're talking about actuarial principles, right
  • We are currently bound by, when we're talking about actuarial principles, right, it has to correlate
Summary: The committee heard several insurance-related bills. AB 69, AB 1554, and AB 1680 all focused on California’s insurance market and the Fair Plan. AB 69 would require clearer notices to Fair Plan policyholders about coverage options, quarterly public reporting on clearinghouse programs, and additional broker/agent training to help depopulate the Fair Plan while preserving consumer choice. AB 1554 would require the California Earthquake Authority to post its annual report online and send it to relevant committees, and would direct the Insurance Commissioner to convene a working group on incorporating hazard mitigation into risk-transfer recommendations. AB 1680 would require the Fair Plan to comply with CDI examination findings, hire more staff, and improve clearinghouse operations; the Fair Plan moved from opposition to neutral after amendments, and the department said the bill would strengthen accountability and consumer protections. These bills were held pending quorum or taken up later, with authors requesting aye votes. AB 2198, by Assemblymember Rodriguez, would clarify title insurance rate-filing rules by specifying that title insurers file title rates and underwritten title companies file escrow rates, reducing duplicative filings and requiring rate schedules to be posted online. The California Land Title Association supported the bill, saying it codified longstanding practice and improved transparency, while the department continued discussions about possible revisions. The bill was left open for further questions and a later vote. AB 1795, by Assemblymember Gibson, would create statewide standards for inspecting, testing, and remediating smoke damage in wildfire-affected homes. The author and the Department of Insurance said the bill would establish science-based standards, protect survivors from unsafe reentry, require training and certification for relevant professionals, and improve claims handling; the department also described serious gaps found in its Fair Plan examination and recent wildfire claims. Insurers and some residents opposed or opposed unless amended, arguing the bill was still too broad, could raise costs, relied too much on industry standards, and left unresolved issues about legal standards, timing, and coverage. The bill remained under discussion, with the author saying negotiations would continue. AB 311, by Assemblymember McKinnor, would create an optional telematics-based auto insurance program to reward safer driving and improve road safety. Supporters, including road-safety advocates, victims’ families, and some insurance representatives, argued telematics could reduce speeding and distracted driving and save lives. Opponents, including privacy and consumer groups, argued the bill would create opaque surveillance pricing, undermine Prop. 103, and raise privacy and fairness concerns. After extensive debate, the committee passed the bill on a 3-0 vote and placed it on call. AB 1798, by Assemblymember Wilson, would bar life and disability insurers from using non-diagnostic genetic information from direct-to-consumer or other predictive genetic testing to deny coverage or raise premiums, while preserving use of medical history and family history and allowing consideration of certain high-value policies above $1.5 million. Supporters said the bill would reduce genetic discrimination and encourage testing; insurers argued genetic information is relevant to underwriting and warned the bill could raise costs and create inconsistencies. The committee chair and members noted the bill was close to agreement but still needed work, and the bill was moved with a 3-0 vote and placed on call.
NH

New Hampshire 2026 Regular Session

Senate Health and Human Services (01/08/2026)

Health and Human Services

Transcript Highlights:
  • It has actual meaning to our actuaries who review those rate increases.
  • So that may seem abstract, but to those actuaries it is not.
  • It is a very specific process grounded in actuarial science that is implicated there.
  • is grounded in actuarial science that is implicated<00:50:48.000><c> there.
  • .<01:17:43.679><c> I</c> actuaries.
TX

Texas 89th Regular

State Affairs Mar 26th, 2025

State Affairs

Transcript Highlights:
  • You know, I talked about the human toll, but insurers have to rely on actuarial tables and assess risk
  • period, it makes transmission investments more predictable and efficient by applying a standardized valuation
  • fluctuation of the price of gold; it was actually confiscated when there was a fixed rate and a fixed valuation
Committee: House State Affairs
MA
Transcript Highlights:
  • So CPAs that understand the accounting end of it, and actuaries to really, especially for a life care
  • So if you're offering a Type A contract, you really want to be working with an actuary that's going to
  • make sure that you have sufficient actuarial reserve.
  • That's going to make sure that you have sufficient actuarial reserves to operate and sustain yourself
  • We run their financials through an actuarial software that takes into account their age, their assets
Summary: The Joint Committee on Aging and Independence commission meeting focused on continuing care retirement communities (CCRCs), with members and presenters discussing how the model works, consumer protections, and areas for future review. After member introductions, Jennifer Fuller summarized survey results showing the top priorities as financial viability and affordability, consumer protections and rights, and regulation/monitoring standards. The commission said those issues would guide its work plan, while also keeping staffing, definitions, and federal support on the radar. Alyssa Sherman of LeadingAge Massachusetts and Jim Freiling of Brookhaven at Lexington gave a detailed overview of CCRCs, explaining that they combine housing with health-related services under long-term contracts and typically require entrance fees plus monthly fees. They described the three common contract types: Type A/life care, where costs stay relatively stable if residents need more care; Type B, which offers some included or discounted care with higher costs later; and Type C, fee-for-service, with lower entrance fees but higher costs if care needs increase. They also discussed nonprofit governance, resident involvement, and the role of state and Attorney General disclosure requirements. Several members raised concerns about affordability, refund timing, and the need to distinguish true CCRCs from other senior housing marketed similarly; presenters said refunds are often tied to reoccupancy and that their organizations are collecting data on refund timelines and contract terms. The discussion also covered resident rights and governance, including whether residents should have seats on nonprofit boards. Christine Griffin said her community lacks resident board representation and urged the commission to consider a state requirement, while others said resident associations and direct engagement with boards can be more effective than mandatory board seats. Members also discussed transparency around monthly fee increases, financial screening before admission, and the importance of clear marketing so consumers understand what they are buying. No votes were taken. The meeting ended with logistical updates, including a tentative public hearing date of June 3, 2025, a note that the next meeting would focus on regulation and monitoring standards, and a reminder that the commission would continue refining its work plan based on survey feedback.
US
Transcript Highlights:
  • that it serves our farmers across all crops, and that important to the program itself, that it's actuarially
  • continue to work together to find more opportunity, to find more products that can work, that can be actuarially
  • Are the circumstances in which actuarially sound occurs? Are they increasing or decreasing?
  • More crops covered and be actuarially sound or is it become more difficult?
  • using the 508H process that the Act allows for, to be able to bring forth that data, to get that actuarial
Summary: The meeting of the agricultural committee focused on significant concerns regarding the current state of America's rural economy, highlighting the need for a strong five-year farm bill to address the challenges faced by farmers, particularly young and beginning farmers. Key testimony was given by multiple stakeholders including agricultural leaders and young farmers, emphasizing issues related to crop insurance, access to credit, and the adverse impact of recent USDA funding freezes. Various members discussed the necessity of risk management tools that farmers rely on to secure financing, which is crucial for sustaining agricultural operations and supporting rural communities. The importance of timely legislative action was underscored, as many farmers reported struggles in the current economic climate, raising urgency for reforms within the Farm Bill framework.
NM
Transcript Highlights:
  • Importantly, that current special valuation method is used agnostic of energy generation source.
  • Chairman, as I understand it, one of the key features is that the valuation is done consistently at the
  • state level for the special valuation method.
  • If it's split, then the valuation can be done on the same piece of property for one part of the energy
  • The special valuation method does, as Ricky indicated, only take into account cost in determining the
Summary: The committee first handled House Memorial 20, which was revised by committee substitute to broaden a proposed study group from renewable energy infrastructure to energy infrastructure more generally. The substitute added the Department of Indian Affairs and allowed the secretary of EMNRD to invite relevant federal agencies. Members generally supported the change, and the memorial received a do pass on a roll call vote. The main policy debate centered on House Bill 311, the Virtual Power Plant Act. The bill would require utilities and public utilities to develop virtual power plant programs that aggregate distributed energy resources such as batteries, smart thermostats, EV charging, and other devices to provide grid services. Supporters argued it would improve reliability, lower peak demand, and reduce long-term costs, while opponents, especially PNM, warned about feasibility, cybersecurity, third-party aggregator risks, cost recovery limits, and possible rate impacts. Committee members pressed the sponsor and expert on customer participation, third-party regulation, opt-in/opt-out protections, equity for low-income customers, and whether solar-only customers could participate. After extensive discussion, the bill passed 6-5. The committee then heard House Bill 329, which would create the Energy, Affordability, and Grid Reliability Council, a Blue Ribbon-style commission administratively attached to the PRC and funded with a $2 million appropriation. Supporters said it would bring together experts to study affordability, grid reliability, and modernization and produce recommendations for future action. Critics questioned the cost, overlap with the earlier memorial, the governor-appointed structure, and whether another task force was needed. The bill passed 7-4. Finally, the committee heard House Bill 309, which clarifies that energy storage property is valued under the special property tax method used for other electric generation, transmission, and distribution assets. Supporters from the storage and clean power industries said the change would reduce uncertainty and encourage investment. The transcript cuts off before the committee’s final action on HB 309.
NM
Transcript Highlights:
  • Currently, a homeowner can lose the statutory limitation on valuation, which is the 3% cap increase,
  • Currently, a homeowner can lose the statutory limitation on valuation, which is the 3% cap increase,
  • changed any improvements, what this bill does is it removes zoning changes as a reason to lift the valuation
  • What this bill does is it removes zoning changes as a reason to lift the valuation cap.
  • So if a home is still being used as a home, the homeowner should not be facing any sudden valuation spike
Summary: The committee first heard House Bill 103, which would prevent a homeowner from losing the 3% valuation cap solely because of a zoning change. The sponsor and supporters, including the New Mexico Business Coalition, Realtors, and the City of Albuquerque, said the bill would protect homeowners from unexpected tax increases when the property’s use has not changed. There was no opposition, and the committee approved HB 103 with a due pass recommendation by voice vote. The committee then considered House Bill 145, which extends the high-wage job tax credit sunset from 2026 to 2036. The sponsor and the Economic Development Secretary said the credit has been effective in attracting and retaining higher-wage jobs, especially because employers need long-term certainty. Business and economic development groups testified in support, while no one spoke in opposition. Members discussed the wage thresholds, the value of keeping a sunset for review, and the bill’s fiscal impact. The committee passed HB 145 on a 7-2 roll call vote. House Bill 247, a major capital outlay modernization bill, generated the most extensive discussion. The sponsor described the bill as a response to billions in unspent capital outlay balances and repeated reauthorizations, and proposed amendments to require ICIP inclusion for larger appropriations, limit reauthorizations, and change how water projects are handled. Public testimony was mixed: some rural and tribal representatives supported modernization but warned that the water provisions could harm small communities, fire suppression systems, flood-control dams, and other local projects. After debate, the committee adopted an amendment striking the water-related Section 2, then later passed the bill as twice amended with a due pass recommendation.
HI

Hawaii 2026 Regular Session

JHA Public Hearing - Wed Feb 4, 2026 @ 2:00 PM HST

Judiciary & Hawaiian Affairs

Transcript Highlights:
  • </c> same amount for DO for an actuarial same amount for DO for an actuarial study<01:45:04.400><c> to
  • </c> measure because it was for an actuarial measure because it was for an actuarial study<01:45:28.320
  • </c> who were you looking to do the actuarial who were you looking to do the actuarial studies<01:46:
  • meaning financial... >> As a non-actuarial, that's how I interpret it.
  • :34.639><c> financial</c> &gt;&gt; So by actuaries meaning financial &gt;&gt; So by actuaries meaning
Summary: The House Committee on Judiciary and Hawaiian Affairs heard House Bill 2095, which would provide supplemental appropriations for the Judiciary for the 2025-2027 biennium. Judiciary Administrative Director Brandon Kimura testified in strong support and outlined a request for about $6.4 million in supplemental operating funds, plus four permanent full-time position conversions. He grouped the request into security, services to court users, and staffing needs, including $3.25 million for supplemental armed private security at judiciary facilities statewide, nearly $200,000 for cybersecurity staffing and support, restoration of funding for substance use treatment purchase-of-service contracts, restoration of funding for the Office of Public Guardian on Kauaʻi, salary commission funding, a Kona court operations position, and two Court-Appointed Special Advocates positions converted from temporary to permanent. He also described five capital improvement requests totaling $55.4 million, led by $30 million for construction of a new South Kohala courthouse, $1.2 million each for air conditioning upgrades in Hilo and Kauaʻi, $15 million for elevator upgrades at Kahumanu Hale, and $8 million in lump-sum bond funds for emerging projects. Several organizations testified in support, including Parents and Children Together and the True Cost Coalition. Supporters emphasized the importance of the purchase-of-service funding for domestic violence and substance use treatment services and said the restoration would return funding to pre-COVID levels and help providers maintain capacity. Kimura explained that the Judiciary often shifts funds among contracts during the year to avoid service interruptions, but that the reduced funding has caused delays and operational problems for providers and probationers. Members asked detailed questions about the capital projects and operating requests. Representative Shimizu asked for more information on the lump-sum bond funds and the elevator project, and Kimura explained that the Kahumanu Hale request covers four remaining elevator shafts after earlier funding addressed the first five elevators. Representative Cochran asked about the absence of Maui County projects, and Kimura said the Judiciary is still planning for its older Maui facilities with DAGS. Chair Tarnas questioned the need for armed private guards and discussed whether court security should be prioritized within the Department of Law Enforcement; Kimura said the Judiciary needs additional personnel now and has not asked DLE to deprioritize other missions, though the chair suggested further coordination between the agencies. No vote or final action on the bill was taken in the portion of the hearing provided.
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Revenue Jun 21st, 2026 at 10:00 am

Joint Committee on Revenue

Transcript Highlights:
  • That is why we've again included our central valuation provision, which will help relieve workforce challenges
  • That is why we've again included our central valuation provision, which will help relieve workforce challenges
  • that I would like to address are Sections 55 through 59, which are the sections that centralize the valuation
  • changes in technology, the regulatory environment, and court-accepted appraisal methodology, the valuation
  • Therefore, MAAO does agree that extending central valuation to these companies would be more efficient
Summary: The Joint Committee on Revenue held a hybrid hearing on several property and local tax bills. The main focus was H.56, the Municipal Empowerment Act, which the Healey-Driscoll Administration, the Massachusetts Municipal Association, MAPC, and Salem Mayor Dominick Pangallo supported as a package of local options and administrative reforms. Supporters said municipalities need more tools to relieve pressure on property taxes and fund services, citing proposed increases to local meals and lodging taxes, a new local vehicle excise surcharge, senior property tax relief, one-year override flexibility for emergencies, and central valuation of telecom and utility property by DOR. The administration said the bill was based on municipal listening sessions and was intended to give cities and towns optional, not mandatory, revenue tools. Opponents, including the National Federation of Independent Businesses, argued the tax increases would hurt restaurants, hotels, tourism, and small businesses and add to affordability concerns. The committee also heard testimony on H.3211, dealing with deeds excise receipts, from Norfolk County Commissioner Richard Staidi. He said Norfolk County is financially stable but needs additional revenue for major capital needs at its agricultural school, especially a new cafeteria and other aging facilities, and also to support county programs such as veteran transportation services. On S.2020, a bill to allow settlements of tax liability, Greater Boston Legal Services, the Asian American Civic Association, and several individual taxpayers urged creation of a more workable offer-in-compromise process at DOR. They said the current system is too subjective, requires an unaffordable $5,000 threshold, lacks clear standards and appeal rights, and leaves low-income taxpayers stuck with unmanageable debt, license suspensions, or business closures. Supporters said the bill would give both taxpayers and DOR a practical way to resolve liabilities and bring people back into compliance. The committee also took testimony on S.1966, which would require nonprofits selling property to disclose any back-tax obligations to buyers. Senator Peter Durant said the bill was prompted by a personal experience in which a tax bill arrived after a nonprofit property purchase was already completed, and he argued the disclosure would prevent buyers from being surprised by retroactive tax liability. No votes were taken during the hearing, and the chair closed the session after hearing from all scheduled witnesses.
CA

California 2025-2026 Regular Session

Senate Energy, Utilities and Communications Committee Apr 21st, 2026

Energy, Utilities and Communications

Transcript Highlights:
  • lack of a better word, from constituents of mine about some of our community challenges, property valuation
  • decreases, community challenges, property valuation decreases, lost revenue to our school districts
  • They are doing that for San Francisco in our valuation case that is under Public Utilities Code Section
  • So in our valuation case, that is under Public Utilities Code Section 1400.
  • So, like, for example, this is a statement from the CPUC's decision and the valuation proceeding around
Summary: The committee heard several energy, water, and utility bills. SB 919 by Senator Grayson would extend the biomethane monetary incentive program through 2030 and authorize additional funding to support renewable natural gas projects by reducing interconnection costs. Supporters said high interconnection costs and the current tax treatment are major barriers to methane reduction projects; opponents, including TURN and environmental groups, raised ratepayer cost concerns and objected to rate-basing and additional public funding. The author said amended language would remove the rate-basing provisions and instead urge the CPUC to act quickly on its pending decision. SB 931 by Senator Laird would reauthorize the Community Impact Mitigation Program for the Diablo Canyon plant through 2030 to continue funding local emergency preparedness, fire protection, public safety, and school district costs. The County of San Luis Obispo and labor groups supported the bill, while TURN opposed it as a statewide ratepayer subsidy that could be funded from existing PG&E revenues instead of higher rates. Members discussed the bill in the context of the 2022 Diablo Canyon extension deal and the possibility of a future longer extension. SB 1215 by Senator Cortese would direct the CPUC to set deployment targets for EV charging in multifamily housing and evaluate progress, with amendments aimed at affordability and limiting system upgrade costs. Supporters said renters are largely locked out of home charging and that prior utility programs proved cost-effective; no opposition testified. SB 1359 by Senator Stern would require more deliberate CPUC review before major gas system investments, emphasizing electrification and non-pipeline alternatives. Gas utilities and several industry groups opposed it, arguing it could undermine the obligation to serve, create safety and reliability risks, and change the regulatory compact. The committee also heard SB 1125 by Senator Menjivar, presented by Senator Gonzalez, which would establish a statewide low-income water rate assistance program upon appropriation. Water agencies, environmental groups, and local governments supported the measure, while one member expressed concern that it lacked a funding source and could not overcome Proposition 218 limits; the bill was moved to Appropriations and the roll was left open. Finally, SB 1098 by Senator Perez would restrict the use of long-running memorandum and balancing accounts by investor-owned utilities, require exceptional circumstances for new accounts, and add sunset and cost-sharing requirements. Consumer advocates and large energy users supported tighter oversight, while the utilities and business groups opposed the bill as too rigid and potentially harmful to flexibility for wildfire, emergency, and safety-related costs.
KY
Transcript Highlights:
  • </c> Anything that exceeds the actuarial assumptions has been a big investment.
  • Actuarial assumptions were cited as one of the culprits.
  • Our actuaries, we work hand-in-hand with them. So that, in my opinion, has been corrected.
  • </c> the actuary amount and above and beyond. the actuary amount and above and beyond.
  • </c><00:36:06.560><c> hand-in-hand</c> Um our actuaries we work hand-in-hand Um our actuaries we work
Summary: The committee held its first official interim meeting after merging the General Government and Finance, Personnel, and Public Retirement committees, establishing a quorum and opening with the pledge and prayer. Members then received a briefing from KPPA representatives Ryan Barrow and Aaron Sarock on the state retirement systems, including KERS, CERS, and SPRS, and on the importance of fully funding the actuarially determined employer contribution, supplemental appropriations, and investment earnings in reducing unfunded liabilities. They said the systems have made progress toward a statutory closed amortization target of 2049 and emphasized that supplemental funding lowers current employer contribution rates but does not change that end date. A major topic was federal and state reemployment-after-retirement rules for retirees who return to work with participating employers. KPPA explained that retirees must have a bona fide separation from service, no prearranged agreement to return, and generally a one-calendar-month break in service for retirees on or after January 1, 2024. If a member fails to comply, retirement benefits can be voided, payments stopped, health coverage ended, and benefits repaid. The presenters also noted that rehired retirees do not earn a second retirement account, and employers rehiring them must pay employer contributions and, in non-exempt cases, reimburse health insurance costs. Members asked about the scale of rehired retirees and the difference between employer contribution and health insurance reimbursement amounts. KPPA said that in fiscal year 2025 there were over 3,500 rehired retirees in CERS and over 5,000 in SPRS, with substantial employer contributions and health reimbursement payments collected. They also explained that some positions are exempt from these chargebacks, including school resource officers and certain law enforcement positions that meet statutory criteria. The committee discussed House Bill 213, which allows cities, sheriffs’ departments, and post-secondary institutions to offer health insurance to rehired officers if authorized by the governing body, effective August 1, 2026, and clarifies the fiscal-year basis for certain exemption limits. No votes were taken.
KY
Transcript Highlights:
  • ambulance state directed program, which is a result of House Bill 152. and we have to um have our actuary
  • ambulance state directed program, which is a result of House Bill 152. and we have to um have our actuary
  • ambulance state directed program, which is a result of House Bill 152. and we have to um have our actuary
  • </c> but okay, they have to do the actuarial but okay, they have to do the actuarial studies.<01:16:17.040
  • So, how can they establish the payment rates if they don't have the actuarial information necessary to
Summary: The committee met with a quorum and first approved the minutes from its May 13 meeting. Members then reviewed a deferred contract with the Kentucky Board of Pharmacy for the Kentucky Pharmacist Recovery Network (KYPRN), a program that provides monitoring and support for pharmacists and pharmacy interns with substance abuse or mental health issues. Board representatives explained that the contract is a long-running arrangement, renewed periodically, with an option for two additional two-year renewals. Senators asked about the program’s structure, participation trends, follow-up, and consequences for noncompliance. The board said enrollment has remained fairly consistent at about 52 participants, with roughly 500 participants over the life of the program, weekly and monthly check-ins during the five-year typical enrollment period, and possible additional sanctions if participants fail to meet obligations. The committee then approved the contract. The committee next considered a group of economic development contracts, including items from the Cabinet for Economic Development. Secretary Jeff Null and general counsel Matt Wingate testified about contracts tied to regional innovation and entrepreneurship hubs. Members focused on the large differences in funding between regions and pressed for more support for rural and eastern Kentucky. Null said the cabinet is working on a more tailored, non-one-size-fits-all approach, including possible changes to capital support, build-to-suit options, and additional resources for rural areas. He said the hubs have helped 193 startups over the last two years and helped attract nearly $350 million in private capital, and he agreed to provide a written report by hub district on startup viability. The committee approved the economic development contracts. The Kentucky Lottery Corporation then presented its contracts with vendor IGT for retail and internet sales systems. Lottery officials said the contracts are mission-critical, cover both the traditional retail system and iLottery, and are structured as a percentage of sales so no payment is made until revenue is earned. They described planned equipment upgrades, including refreshed terminals, new ticket checkers, cashless vending and bill acceptors, and connected-play features that would link retail and online wallets. Officials said keeping the same vendor reduces the risk of business disruption and that the arrangement has already produced cost savings. They also said the lottery continues to see year-over-year growth and expects to meet its annual contribution target of $360 million for scholarships and grants. The committee approved the lottery contract after discussion.