Transcript Highlights:

• And Department of Finance? Blair Huxman, Department of Finance.
• And Department of Finance? Blair Huxman, Department of Finance.
• Housing Finance, which would be within the California Housing Agency, and then a finance grants...
• California Housing Agency, and then a finance, housing finance committee as well.
• Just the uncertainty around HUD financing, USDA financing that support housing will create that much

Summary: The Assembly Subcommittee on State Administration held a budget hearing focused heavily on housing, homelessness, and related administrative proposals. HCD reported that California housing production has increased, with 2023 completions up 13% from 2022 and entitlement and construction timelines improving, while members and advocates criticized the Governor’s January budget for zeroing out or sharply reducing several housing programs. Public testimony urged funding for affordable housing production, preservation, youth housing, CalHome, LIHTC, HAP, and related programs, and several speakers argued the state should not pull back after recent progress. A major policy item was trailer bill language to allow HCD to access “excess equity” in existing affordable housing projects and recycle those funds into new or preserved housing. HCD and the LAO said the proposal could unlock tens or hundreds of millions of dollars, but members wanted guardrails and clearer statutory direction to ensure the funds stay within the intended housing purposes. The committee also discussed encampment resolution funding; HCD said the proposal would shift expenditure deadlines to the date of award rather than appropriation, while the LAO raised concerns about limited outcome data and urged the Legislature to use upcoming reporting before deciding on future funding. The hearing also covered HCD trailer bills to consolidate default reserve funds into a centralized continuously appropriated account and to clarify reporting requirements for early rounds of the Homeless Housing, Assistance and Prevention program. HCD requested funding to implement chaptered legislation, including a new tribal housing program and reporting-related bills, and also sought extensions for certain reappropriations, including Homekey and REAP 2 deadlines. Public commenters and regional agencies supported flexibility for REAP 2 timing and other housing-related adjustments. Finally, the Business, Consumer Services and Housing Agency presented the Governor’s reorganization proposal to split the current agency into a Housing and Homelessness Agency and a Consumer Protection Agency. The administration said the change would improve focus, efficiency, and coordination, but the LAO and several members questioned whether it would truly save money or improve accountability, especially given the need for new leadership, possible staffing changes, and the fact that the plan had not yet been formally submitted for review. No votes were taken during the hearing.

Transcript Highlights:

• Mary Davis then turned to Housing Finance programs and the Minnesota Housing Finance Agency, noting that
• Mary Davis explained that the Minnesota Housing Finance Agency finances housing activities in the state
• some of the finance some of the finance issues<00:08:15.000> so<00:08:15.479> as<00
• some of the historic Finance some of the historic Finance Appropriations<00:09:15.000> here
• <00:21:12.760> loans this is a program that finances loans this is a program that finances

Keywords: 1183, house

Summary: The House Housing Finance and Policy Committee met for an informational session with no bills taken up and no votes or formal actions. Members and staff introduced themselves, and Chair Speno said the committee would focus on understanding housing policy and barriers to building more homes, noting Minnesota’s housing shortage and the need to support both single-family and multifamily construction. House Research analyst Mary Davis and House Fiscal analyst Katrina Heimark gave an overview of the committee’s jurisdiction and the Minnesota Housing Finance Agency’s programs and funding streams. Davis outlined areas the committee may hear about, including real estate law, landlord-tenant law, manufactured home parks, housing cooperatives, zoning, property taxes, and MHFA programs. Heimark described MHFA’s five main budget areas—development and redevelopment, housing stability, homeownership assistance, preservation, and resident/organization support—and reviewed recent appropriations, emphasizing that much of the large 2024–25 funding was one-time money and that ongoing base funding is lower in 2026–27. Members asked several questions about how prior appropriations were spent, whether unused funds return to the general fund, and whether funds can be repurposed. Heimark said transferred funds generally are not returned to the general fund if unspent, but are expected to be used for the purposes outlined in the appropriation; she also said she had requested more detailed expenditure information from the agency and would follow up. Questions also focused on who benefits from programs such as rental housing rehabilitation and the affordable rental investment fund, with the testifiers explaining that most MHFA programs are targeted to low- and moderate-income households and that income eligibility varies by program. The committee also discussed the new metro-area sales tax revenue dedicated to housing, with members requesting more detail on reporting, oversight, and allowable uses.

Transcript Highlights:

• of policies and rules and all the projects that we finance at the Finance Authority.
• Our loan servicing people work closely with our finance department.
• Adopted by the Finance Authority employees.
• We've worked on several projects in which we've provided the gap financing.
• It also includes other corridors that may not otherwise receive financing.

Transcript Highlights:

• Also, your Committee on Finance.
• I have Amendment No. 892 proposed by the Senate Committee on Finance. Senator Donate.
• I have Amendment No. 912 proposed by the Senate Committee on Finance. Senator Dondero-Loop.
• I move to refer Assembly Bill 550 to the Committee on Finance. You've heard the motion.
• Amendment No. 850, proposed by the Senate Committee on Finance. Senator Dondero-Loop.

Keywords: 909, all

Transcript Highlights:

• Selection and priorities financed by bonds in its annual budget request, increasing the other than buses
• An act relating to the financing of highway projects, providing additional bonding authority to the State
• the Department of Transportation to include a report on highway project selection and priorities financed
• to the Senate Committees Committee, then Senate Health and Public Affairs Committee, then Senate Finance
• Public Affairs Committee, then Senate Health and Public Affairs Committee, then Senate Finance Committee

Keywords: 996, all

Transcript Highlights:

• The Assembly Banking and Finance Committee is now called to order.
• Potential bankruptcy of the Department of Finance and Innovation? Do we know about that?
• The bill would include lawsuit financing in the definition of commercial loan.
• Litigation financing is the most significant development in modern civil litigation.
• It's a mouthful, but legal funding is different from litigation financing.

Keywords: 988, house, all

Transcript Highlights:

• Is the adoption of the amendment offered by the Committee on Finance?
• The Committee on Finance moved to amend the bill on page one, section 5C.
• The amendment adopted by the Finance Committee modifies two allocations.
• Is the adoption of the amendment offered by the committee on finance?
• The amendment adopted by the Committee on Finance did two things.

Keywords: 994, senate, all

Summary: The Senate took up a long second- and third-reading calendar of House bills and one joint resolution, with most measures advanced after committee strike-and-insert amendments or technical changes. Major topics included economic development and infrastructure, education and school choice, public safety and criminal justice, election law, tax and revenue matters, health and human services, and several supplemental appropriations. Several bills were advanced to third reading without amendment, including measures on Ireland education, youth/handicapped hunting, child care, tax efficiency, school transfer eligibility repeal, religious organizations, teacher and state police pay raises, Medicare supplement guaranteed issue rights, and various supplemental appropriations. Among the more substantive amendments, the Senate approved changes to industrial access road funding, airport hangar financing, driver’s license reciprocity with Ireland and Japan, foster youth virtual instruction, medical cannabis fund allocations, EMS funding, virtual currency kiosk regulation, workers’ compensation updates, and protection of personal residential information for certain public officials. The chamber also adopted amendments on election-related bills, including changing party-switching deadlines for candidates, and on a bill creating a new offense and bail rules for terroristic threats to schools or children. The Senate also advanced bills on missing persons/cold case record preservation, campus safety mapping, pre-adjudicatory alternative disposition in abuse and neglect cases, hotel occupancy tax recordkeeping, and domestic violence penalties. Several measures received floor debate. The party-switching bill drew the most discussion, with supporters arguing it would prevent election gamesmanship and opponents saying it would protect incumbents and limit access for new candidates; a division vote adopted an amendment, and the bill was then advanced. The work-zone fines bill was amended on third reading to apply higher penalties only when workers are present, then passed 34-0. The Foster Youth Post Secondary Transition Awareness Act also passed after an amendment adding agricultural vocational program provisions. The Senate adopted a title amendment on the passed bills and then recessed for 15 minutes.

Transcript Highlights:

• modernize our system of public financing modernize our system of public financing and<00:05:38.160
• <00:24:28.960> program details of a public financing program details of a public financing
• of these concerns while campaign Finance of these concerns while campaign Finance report<01:10:05.159
• updates to clarify the campaign Finance updates to clarify the campaign Finance system<01:13:37.760
• I'm with the Campaign Finance and Public Disclosure Board.

Keywords: 1187, senate, all

Transcript Highlights:

• Tax increment financing is a, uh, financing tool that state law allows local governments to use.
• And any increment financing district.
• . financing. financing.
• financing bill for the city of Wayzata. financing bill for the city of Wayzata.
• /c><00:48:33.800> department finance team in the finance department finance team in the finance

Keywords: 1183, house

Transcript Highlights:

• Alex Schope, Department of Finance.
• We’ll start with the Department of Finance. Phil Osborne, Department of Finance.
• I need to check with the Department of Finance. Yeah, our estimates... ...number from Finance?
• Paula, Finance.
• Kayla Lamb, Department of Finance.

Keywords: 988, house, all

Summary: The committee first took up the May Revision update on Proposition 98 and the school rainy-day fund. The Department of Finance said the minimum guarantee rises by $6.4 billion over the Governor’s Budget across the three-year window, with lower average daily attendance projections offsetting some of the revenue gains. Finance also described a reduced $3.9 billion settle-up proposal, increased deposits into the Public School System Stabilization Account, and an ending reserve balance of about $10.3 billion. The LAO said the revenue and LCFF adjustments were reasonable, but urged the Legislature to be cautious about delaying settle-up payments and to consider more budget resiliency, including larger cushions or other tools to protect ongoing programs. Members then questioned the administration and LAO about the size of the settle-up, the rationale for the reserve deposit, declining enrollment, and how lower attendance is creating savings that can be redirected to other school priorities. The LAO said the May Revision’s mix of one-time and ongoing spending was generally reasonable but recommended keeping a strong cushion and considering alternatives such as advance payments or pension-related savings. Questions also focused on how the May Revision’s funding mix affects districts if revenues weaken, and on the treatment of special education, discretionary block grants, and paid family leave costs for LEAs and community colleges. The committee next heard the community colleges portion of the budget. Finance described a higher SCFF COLA, increased apportionment costs, a student support block grant, deferred maintenance, Common Cloud, Calbright, credit for prior learning, and a one-time adult learner demonstration project. The Chancellor’s Office supported the core investments but asked for more funding for enrollment growth, changes to the SCFF growth formula, and a COLA for Student Equity and Achievement. The LAO recommended funding the statutory COLA increase, noted a $52 million current-year apportionment shortfall not yet included in the May Revision, and suggested the Legislature could instead direct some funds to enrollment growth, categorical COLAs, or one-time uses. Members also clarified how COLA and hold-harmless rules apply to different community college districts. Finally, the committee reviewed the proposed state implementation of the federal Workforce Pell program. Finance proposed one-time funding for the Student Aid Commission and Cradle to Career data work, plus trailer bill changes to set up state approval of eligible programs. CSAC said the program is promising but highly complex, with new federal rules just released and significant data, regulatory, and systems work still needed; it said the state will not be ready by July 1 and that ongoing funding will likely be necessary. The LAO agreed that implementation will require careful trailer bill language and noted that ongoing administrative costs remain unresolved. Members asked about other states’ approaches and the practical effect on short-term workforce programs in California.

Transcript Highlights:

• Finance. SB 1579 appropriations, law enforcement records management.
• SB 1638, conformity, Internal Revenue Code deductions, Finance.
• SB 1509, campaign finance lobbyist reporting.
• Finance. SB 1630. SB 1629, behavioral health contracts, network adequacy. Finance.
• Finance. SB 1631, DCS sexual abuse allegations interviews. HHS.

Keywords: 1182, all

Summary: The Senate convened with prayer and the Pledge of Allegiance, recorded attendance, approved the prior journal, and welcomed several guests in the gallery, including Tom Walsh, Lisa Everett, Avery Franz, and Chief Elliot Sneezy. Members also extended well wishes to Senator Farnsworth’s wife, who was hospitalized. The President made a temporary committee appointment, naming Senator Fernandez to the Education Committee for February 4, 2026. The chamber then processed a large number of House messages and first-reading bill referrals covering a wide range of topics, including transportation, taxation, water policy, education, health care, public safety, housing, elections, immigration, behavioral health, and appropriations. Among the notable items were bills on religious institutions and charitable services, alternative fuel tax, school budgets, civics instruction, private school teacher certification, informed consent for medical interventions, rural groundwater management, and multiple appropriation measures for law enforcement, fire incident management, school safety, housing, and social services. Standing committee reports were also received and entered without being read. In other business, the Senate considered the Governor’s nomination of James McCain to the Arizona Board of Regents. The Education Committee recommended confirmation, and the full Senate voted to approve and confirm the nomination by voice vote. After a recess, the Senate returned, received additional first-reading bills and committee reports, announced committee meeting schedules for the following day, and then adjourned until Wednesday, February 4, 2026, at 1:15 p.m.

Transcript Highlights:

• Justin Hearse with the Department of Finance.
• I'm Justin Hurst, Department of Finance.
• Alexandra Wildman, Department of Finance: Finance has been made aware that College of the Canyons withdrew
• Yes, Mike McGinnis, Department of Finance.
• Yes, Mike McGinnis, Department of Finance.

Summary: The Assembly Budget Subcommittee on Education Finance held a hearing focused on California Community College budget proposals. Chair Alvarez opened by emphasizing the system’s role in access, transfer, workforce training, and serving more than 2 million students, while also noting persistent challenges in enrollment, persistence, transfer, and graduation. Public commenters and system representatives broadly supported COLA, enrollment growth funding, deferred maintenance, student support block grants, and additional flexibility for districts facing uncertainty. The first major panel covered the student-centered funding formula, COLA, and enrollment growth. The Department of Finance said the Governor proposes a 2.43% COLA ($230.4 million) and 0.5% enrollment growth funding ($30.4 million). The LAO said the COLA was reasonable and recommended funding at least the proposed growth amount, citing uneven enrollment recovery and regional differences. The Chancellor’s Office supported both proposals and asked for additional changes, including using the greater of current-year or three-year average for apportionments and lifting the 10% local enrollment cap, arguing these would better fund growing districts. Members questioned how the formula works, whether SCFF is improving outcomes, and how much additional funding would be needed under different growth scenarios. The committee then reviewed categorical program COLAs, Rising Scholars, career education proposals, IT proposals, and student housing. The Governor proposed a 2.43% COLA for selected categorical programs ($31.9 million). For Rising Scholars, the Governor proposed $30 million ongoing and removal of the cap on participating colleges; the LAO urged waiting for outcome data before doubling funding, while the Chancellor’s Office said the program is serving more students and supports equity for justice-impacted students. On career education, the Governor proposed $50 million for credit for prior learning and $50 million for a career passport; the LAO supported more reporting on credit for prior learning but recommended rejecting the career passport as too undefined, while the Chancellor’s Office supported both. On technology, the Governor proposed $162.5 million for a common cloud data platform and $168 million for a common ERP system; the LAO said both were premature or lacked sufficient planning and recommended rejection, while the Chancellor’s Office argued they would improve real-time data, security, and systemwide efficiency. The committee also heard an update on student housing: the administration said the 2024 shift to a lease-revenue bond model remains in progress for 13 approved projects, with 11 still active, and members asked about withdrawn projects and possible use of any returned funds. No votes were taken, and several items were held open for further discussion and May Revision updates.

Transcript Highlights:

• increment financing. increment financing.
• financing financing um, um, um, maybe<00:04:56.280> I<00:04:56.480> I<00:04:56.600>
• And of course, plus financing costs.
• <00:28:46.160> 75<00:28:47.160> million percent to finance 75 million percent to finance
• <00:32:00.880> $45<00:32:01.520> million to finance $45 million to finance $45 million

Keywords: 1187, senate, all

Transcript Highlights:

• Finance authority.
• We finance projects, not programs.
• Minnesota Climate Innovation Finance Minnesota Climate Innovation Finance Authority.
• and how we monitor about what we finance and how we monitor the<00:22:33.240> financing,<00:22
• Finance<00:23:45.800> authority. Finance authority. Finance authority.

Keywords: 1187, senate, all

Transcript Highlights:

• either on the floor or in finance either on the floor or in finance if<00:22:00.240> the<
• Senate File 4531 is in finance.
• The amounts were adjusted finance.
• <00:35:53.680> The file 1580 uh is also in finance. The file 1580 uh is also in finance.
• more information on finance, not less. more information on finance, not less.

Keywords: 1187, senate, all

Transcript Highlights:

• so it's not getting sent to finance. so it's not getting sent to finance.
• Committee on Finance. Thank you, Mr. Committee on Finance. Thank you, Mr.
• as to why finance worked on this bill. as to why finance worked on this bill.
• Finance Committee did. Finance Committee did.
• Senate Finance will not meet. President. Senate Finance will not meet.

Keywords: 927, senate, all

Transcript Highlights:

• Department of Finance? Perfect. back with the Department of Finance. Thank you.
• Henry Yang Department of Finance.
• Department of Finance? Hi, Kimberly Harbison, Department of Finance.
• Lester Warren of finance, any comments after that? Thank you, Lenny Shimoda Department of Finance.
• Department of Finance? Anti-translation Department of Finance.

Keywords: 988, house, all

Transcript Highlights:

• cost, or $16 million worth of bonds. financing. financing.
• , so we will be sending it to finance, so we will be sending it to finance.
• obstacle normally is financing. obstacle normally is financing.
• <00:33:43.040> So, Housing Finance Agency. So, Housing Finance Agency.
• <01:04:57.760> We're does need to go to Finance. We're does need to go to Finance.

Keywords: 1187, senate, all

Transcript Highlights:

• of the state's business Finance of the state's business Finance Authority<00:11:55.279> uh
• I'm not a finance guy; I'm an energy guy.
• I'm not a finance guy; I'm an energy guy.
• the cost of fuel for the cost of finance the cost of fuel for the cost of finance and<00:17:22.480
• <00:17:25.959> we're that can bring lowcost Finance we're that can bring lowcost Finance we're

Keywords: 1191, senate, all

Transcript Highlights:

• I move to refer Senate Bill 508 to Finance. You've heard the referral.
• I have amendment number 913 proposed by the Senate Committee on Finance. Thank you.
• I have Amendment No. 874 proposed by the Senate Committee on Finance. Senator Dondero Loop.
• I have Amendment No. 930 proposed by the Senate Committee on Finance. Senator Dondero Loop.
• I move to refer AB 224, AB 356, and AB 366 to the Committee on Finance.

Keywords: 909, all