Transcript Highlights:

• That's the second-highest return rate in the state's history.
• Obviously, better ratings are better. ...credit profile and the likelihood that a ratings change over
• Obviously, better ratings are better for the entire state.
• Maybe with these new rates, it'll help us out.
• Accidents have happened, you know, at a high rate of speed.

Committee: House Appropriations

Summary: The committee first heard the House Fiscal Division’s FY 2027 budget presentations for the State Treasury, Public Service Commission, Department of Civil Service, and Department of Agriculture and Forestry. Treasury’s recommended budget was about $15 million with 74 positions, funded largely by self-generated revenue. Treasury staff highlighted strong investment returns, record unclaimed property recoveries, a new ACH option to speed and reduce the cost of payments, a School Transparency portal that helped uncover questionable school spending, and a new online portal that has sped up processing of cooperative endeavor agreements and related payments. Members praised the transparency work and faster payments, and asked about bond ratings, CEA oversight, and the public accessibility of the transparency site. The Public Service Commission’s FY 2027 budget was presented at $11.5 million, entirely self-generated, with most spending on personnel; commissioners said salary and market adjustments were needed to address heavy attorney and auditor turnover. Civil Service’s FY 2027 budget was presented at $28.7 million, with major funding from interagency transfers and general fund, and officials explained recent pay-plan and special entrance rate changes intended to improve recruitment and retention across state agencies. Members asked how those compensation changes were developed and whether market studies supported them. The Agriculture and Forestry budget was presented at $91.4 million, with major funding from statutory dedications, general fund, and federal dollars, and the commissioner described severe pressure on farmers from low commodity prices, drought, freezes, wildfires, storm damage, and labor shortages. The Agriculture and Forestry discussion was the longest and most detailed. The commissioner said the state is working to expand markets, reduce costs, and help farmers through federal assistance, while also seeking more equipment and fuel for wildfire response after a severe fire weekend and ongoing drought conditions. Members raised concerns about storm-damaged timber, soil and water conservation funding, and the loss of federal dollars that depend on local technicians. The commissioner explained the wildfire suppression subfund, the role of severance taxes, and the limits of current firefighting equipment and staffing. He also discussed the seafood sector, especially shrimp and crawfish, saying imported seafood, currency changes, tariffs, and H-2B worker shortages are hurting Louisiana producers and processors. He said the department is testing imported seafood for antibiotics, wants more authority to hold contaminated product, and is pursuing legislation to support seafood promotion and testing. Members also asked about wood chips, rail transport, timber severance reporting, and incentives for wood pellet use, and the commissioner said the department is exploring new markets, including overseas buyers for wood and agricultural products. No formal votes or bill actions were taken in the portion provided; the meeting consisted of budget presentations, agency testimony, and member questions and comments. The tone throughout was supportive of the agencies’ work, with repeated praise for Treasury’s transparency efforts, Civil Service’s compensation reforms, and Agriculture and Forestry’s advocacy for farmers, foresters, and seafood producers.

Transcript Highlights:

• The motor fuel rate, the gasoline rate, was a six-cent increase, and the special fuel increase was nine
• There were increases to both the motor fuel tax. rate.
• That went into effect last July, the motor fuel rate, the gasoline rate, was six cent increase, and the
• An additional special fuel rate increase of three cents begins on July 1st, 2027. rate increase of three
• special fuel tax rates.

Summary: The House Transportation Committee held public hearings on a proposed substitute for House Bill 2306, the 2026 transportation supplemental budget, and on proposed substitute House Bill 2711, a transportation resources bill. Staff described HB 2306 as revising the enacted 2025-27 transportation budget, increasing spending by about $1.1 billion to $16.5 billion, largely through reappropriations and new funding for preservation, maintenance, rail, transit, active transportation, ferries, licensing, and State Patrol needs. The chair and ranking member emphasized caution because of downward revenue forecasts, uncertainty around major project bids and future fish passage costs, and the decision to use existing bond authority without new bonding. Public testimony on HB 2306 generally supported preservation, maintenance, rail improvements, dredging, transit access, and local safety projects, while some witnesses urged more support for EV incentives and long-term transportation funding stability. For HB 2711, staff explained that the bill responds to administrative issues in last year’s transportation resources law, including fuel tax inflation adjustments, luxury vehicle/aircraft/vessel taxes, the indigent tow reimbursement program, tire fee language, and other tax administration provisions. The proposed substitute would repeal the luxury aircraft tax, adjust peer-to-peer rental car tax administration, restore authority for the Transportation Commission to exempt transit buses from tolls, waive certain penalties and interest tied to early compliance with the luxury vehicle tax, allow lease payments to be taxed incrementally, add exemptions for tribal members and nonresidents, change transfer timing between accounts, and create a Preserve Washington Account for highway preservation and maintenance. Fiscal notes projected additional revenue from aligning use tax with sales tax and modest administrative costs, while delaying the tow reimbursement program reduced near-term expenditures. Testimony on HB 2711 was mixed. RV dealers asked for a delay to the luxury vehicle tax, arguing the industry is already in decline and the tax could push sales out of state. WFSE supported the new Preserve Washington Account and urged higher bid limits for highway maintenance work. Committee members asked for clarification on the peer-to-peer rental car tax and the transit bus toll exemption. The chair announced that executive session on the bills, along with one other measure, would occur Wednesday, and members were told to submit amendment requests by the next day.

Transcript Highlights:

• Madam Chair, Senate Bill 1333 requires DES by December 30, 2030, to reduce the SNAP payment error rate
• , including recommendations to reduce the rate.
• much lower rates.
• Right now, high error rates will drain the general fund in just a few years.
• on either your fiscal year 2025 or 2026 error rate.

Committee: Senate Senate Health and Human Services COR

Summary: The Senate Health and Human Services Committee met and first recognized Physical Therapy Day at the Capitol, welcoming Arizona physical therapy leaders and students. The committee then took up several bills related to SNAP, health care regulation, child welfare, dementia services, and safe haven newborn surrender. SB 1334 would bar DES from seeking or renewing SNAP work-requirement waivers for able-bodied adults without dependents unless required by federal or state law; supporters said it would curb administrative expansion and opponents argued it would reduce flexibility during high unemployment and harm food-insecure Arizonans. The bill received a do-pass recommendation on a 4-1 vote. SB 1333 would require DES to reduce the SNAP payment error rate to 3% by 2030, with annual reporting, corrective action plans, Auditor General oversight, and possible funding penalties if targets are missed. After adopting a committee amendment changing reporting to quarterly updates and replacing a forensic audit with a special audit, the committee approved the bill as amended on a 4-1 vote. SB 1331 would require able-bodied adults under 60 receiving SNAP to participate in mandatory employment and training unless exempt; proponents said it would strengthen work expectations, while opponents and DES raised concerns about administrative burden and food bank impacts. The bill passed 4-2, with members explaining no votes due to child care, rural access, and food insecurity concerns. The committee also advanced SB 1162, which clarifies DHS’s role in licensing and monitoring health care institutions and, as amended, requires DHS and AHCCCS/Access to coordinate to reduce duplicative oversight and report periodically to the legislature; it passed 6-0. SB 1017, requiring additional signatures and witness verification on emergency informed consent forms for surgical procedures, passed 4-2. SB 1149, which adds reporting and procedural requirements for DCS periodic review hearings, passed as amended 5-1. SB 1249, designating DHS as the lead agency on Alzheimer’s and dementia and creating a state plan and services program funded through lottery monies rather than the general fund after amendment, passed 6-0. Finally, SB 1253 clarified that a parent may surrender a newborn at the hospital of birth without leaving and returning, and requires updated safe-haven reporting; it passed 5-0, after testimony from hospital and safe-haven advocates in support. The committee then adjourned.

Transcript Highlights:

• Um we ask patient satisfaction rates.
• You about to reduce rates risk anyway.
• </c> syndrome, which has a 50% survival rate syndrome, which has a 50% survival rate unless<00:52:05.480
• </c> that survival rate goes up to 94%. that survival rate goes up to 94%.
• </c> untreated decay rates have fallen 23%. untreated decay rates have fallen 23%.

Keywords: 958, all

Summary: The Budget Review Subcommittee on Health and Family Services met in person, approved the July 15 minutes, and heard a presentation from Dr. Matthew Holder and Dr. Henry Hood of the Lee Specialty Clinic in Louisville. The clinic serves people with complex intellectual and developmental disabilities through a transdisciplinary model that combines medical, dental, behavioral, psychiatric, therapy, and other services under one roof. The presenters argued that this population is large-cost but small in number, often receives little provider training, and is vulnerable to diagnostic overshadowing, overmedication, and missed medical or dental problems. The clinic reported that in Tennessee, payer data showed average costs of about $5,200 per member per month before clinic involvement, with a 44% reduction in overall health care spending after patients were seen, including lower emergency room use, inpatient admissions, and prescription use. They said those savings were measured by the payer, not the clinic, and that the savings accrued to Medicaid or managed care payers rather than the clinic itself. They also shared a case example of a patient who had been placed on hospice but improved after diagnosis and treatment at the clinic. Patient and parent satisfaction were described as very high, generally above 95%. The clinic asked for roughly $5 million to expand into Northern Kentucky, estimating 500 to 700 patients would use the new site and projecting annual savings of about $13 million to $19 million once mature. Members asked about the budget, startup and operating costs, where the savings go, and whether the clinic had considered taking full risk or another value-based model. Senator Meredith and others encouraged the clinic to explore an accountable care or risk-based arrangement, while the presenters said they were open to that discussion but had not pursued it yet. The exchange ended with follow-up questions about the clinic’s overall budget structure and public-private funding mix.

Transcript Highlights:

• But we can guess rate increases, all kinds of issues.
• We are going to allow the insurance when they come in with their rates to increase rates if they can
• And again, the rates would be charged for each year.
• They would have no impact on rates for folks... ...represented, they would have no impact on rates for
• You can only do that through rate increases, so no matter what we do here, there's going to be a rate

Bills: SB154 , SB187 , SB193 , SM3

Committee: Senate Senate Conservation

Keywords: insurance, wildfire, flood damage, natural disasters, property coverage, water projects, appropriation, New Mexico, finance authority, infrastructure, New Mexico Finance Authority, funding, SB193, acequia, community ditch, irrigation works construction fund, water infrastructure, ditch infrastructure, irrigation, New Mexico water law

Transcript Highlights:

• , and those types of things. rates, and those types of things.
• It has a 59% success rate.
• And then finally, on the GSD rates, I think you've heard...
• increases and the health insurance rate increases.
• But the reality is mill rates cannot easily be changed.

Transcript Highlights:

• approval by the insurance commissioner and not less than 30 days before the effective date of the rate
• </c> the program has you know received a rate the program has you know received a rate filing<00:04:38.199
• </c><00:04:45.720><c> approval</c> related to after the rate approval related to after the rate approval
• > money</c><00:36:18.240><c> market</c> on the national rate for money market on the national rate for
• </c> of lenders to make low interest rate of lenders to make low interest rate loans<00:37:44.359><c>

Committee: Senate Commerce and Consumer Protection

Keywords: 912, senate, all

Summary: The committee heard several insurance and condominium-related bills. SB 1137 would require insurers to notify policyholders of approved rate changes within 30 days and at least 30 days before the effective date. The Insurance Division supported the bill, while testimony focused on condominium master policies and whether the notice period would be enough for associations to respond to rate increases. The division said the bill would mainly affect admitted carriers, not surplus lines insurers that write many condominium master policies, and warned against limiting the nonadmitted market. SB 293, requiring sellers to disclose when USPS cannot deliver mail or packages to a residential property, was also heard with HAAI Realtors commenting. SB 752 would extend notice periods for cancellation or nonrenewal of property-casualty policies; the Attorney General’s Office raised concerns about contractual impairment and retroactive application. The committee also heard SB 575, which would allow authorized insurers to offer building and hurricane damage coverage for condominium buildings at a lower rate than prior surplus lines coverage. The Insurance Division stood on written testimony, and a condominium owner urged amendments to require a membership vote before such coverage changes, citing concerns about condominium self-governance. SP 1046 would require managing agents to notify unit owners and the Real Estate Commission when a condominium association fails budget and reserve reporting requirements. The Real Estate Commission said the bill was administratively workable as drafted but noted ambiguity over who counts as the “managing agent”; several testifiers opposed the measure, arguing it could disrupt the principal-agent relationship and impose legal judgment on nonlawyers, while others supported it. SP 150, dealing with captive insurance companies seeking exemption from examinations, drew the most detailed discussion. The Captive Insurance Council supported the bill as a way to reduce duplicative oversight and improve Hawaii’s competitiveness, while the Insurance Division opposed it as drafted, citing concerns about broad commissioner discretion, possible missed issues between exams, staffing shortages, and the need to preserve oversight. A committee member asked about a possible middle ground, including a shorter exemption period or limiting the bill to self-attestation companies; the division said it would need more information and that annual filings and approval requirements would still provide oversight. The committee also heard SP 212, which would require at least two Real Estate Commission members to be licensed engineers or architects; testimony included support and a concern about conflicts of interest among people who serve in multiple roles in the condominium and real estate sectors. No votes or final actions were taken in the portion provided, and the chair moved from one measure to the next after testimony and questions.

Transcript Highlights:

• And we have the highest per capita enrollment rate.
• That is language related to the small group health insurance rate manuals and rating methodologies that
• manuals and rating... ...now been repealed, as well as rating manuals and rating methodology that are
• Page 103 increased the flexibility of rating the enhanced short-term plans.
• how rates are to be loaded between the youngest to the oldest in the ACA program.

Committee: Senate Commerce and Human Resources

Keywords: 989, all

Transcript Highlights:

• They also have to pay the highest marginal income tax rate in New Mexico.
• They don't get the benefit of the marginal tiered rates.
• outside of the neighboring county rate, so that was to be expected.
• I wouldn't say that it was in response to the state reducing its rate, but the state rate is actually
• That comes back to them in terms of provider reimbursement rates of more like $1.2 billion.

Committee: House Federal Funding Stabilization Subcommittee

Transcript Highlights:

• Aggressive action when infection rates are low helps slow the spread of CWD.
• My first question is: What is the persistence rate in Grundy County for CWD?
• You mentioned Wisconsin, and you mentioned their decrease in rates.
• In fact, they were having increases with 40% rates, which technically, if you have a 40% rate, you know
• So what's the current Wisconsin rate?

Committee: House Agriculture, Food Production and Outdoor Resources

Summary: The House Committee on Agriculture met with a quorum and first took up House Bill 1885, Representative VanSkoik’s bill. The committee moved the bill “do pass” and approved it by roll call vote, 22-0. After that action, the committee held a special presentation by the Grundy County R-5 FFA agriculture issues team. The FFA students presented a skit and discussion on chronic wasting disease (CWD) and the Missouri Department of Conservation’s targeted removal practices. Their presentation laid out competing concerns from farmers, deer hunters, families using venison, and conservation officials, including crop damage, hunting economics, deer population health, food safety, and the spread of CWD. Committee members asked questions about CWD prevalence in Grundy County, the Wisconsin and Kansas experiences, human health risks, Share the Harvest, testing practices, and the economic effects of deer hunting versus deer damage and collisions. Members praised the students’ preparation and presentation, and several offered suggestions about strengthening their factual support and economic data for competition. The committee also discussed the controversy around MDC’s CWD policies and the decision to pause targeted removals while more research is done. The meeting ended with thanks to the students and adjournment of the committee.

Transcript Highlights:

• Consumer Financial Protection Bureau interest rate index.
• Consumer Financial Protection Bureau interest rate index.
• We are substituting the required net yield with the average prime offer rate, or APOR.
• </c> 1st 2024 the maximum interest rates 1st 2024 the maximum interest rates under<00:48:43.000><c> the
• </c> addition to any other regular rate addition to any other regular rate increases<01:10:27.520><c>

Committee: Senate Commerce and Consumer Protection

Keywords: 1187, senate, all

Transcript Highlights:

• </c> because of higher rates. because of higher rates.
• rates? rates?
• those with 3% or lower rates.
• We're finally kind of crossing, which means the people who are in 6% rates or higher rates are a lot
• </c> keep up and rates have to cooperate. keep up and rates have to cooperate.

Committee: House Housing Finance and Policy

Keywords: 1183, house

Transcript Highlights:

• So those credits get paid at the four-year rate versus the two-year rate, and consequently the same for
• Their career and technology education credits get paid at the two-year rate versus that four-year rate
• So that's why they see a little bit of an adjustment at At the two-year rate versus that four-year rate
• This is the economic size rate.
• So I did look at retention rates.

Summary: The committee met to discuss higher education funding and capital building policy. Members first heard an update from NDUS Deputy Commissioner Lisa Johnson on low-producing academic programs. She described a proposed board policy using a five-year rolling window and thresholds of fewer than 10 undergraduate graduates or fewer than 5 graduate graduates, with programs flagged for three consecutive review periods going to the board. Possible outcomes would include continuation, continuation with modifications, inactivation, or termination. Members asked about how the review would account for program costs, service to other students, workforce demand, and the difference between inactivation and termination. Johnson said the board would consider broader factors and that campuses already do detailed program analysis. Several members also asked about cost savings and staffing impacts from program terminations, and Johnson said the board would try to provide more information later. The committee then received a report on the Capital Building Fund from Jamie Wilkie. He reviewed the program’s history, matching requirements, and recent uses, noting that about $334 million in state and matching dollars has been invested overall, with most going to deferred maintenance and extraordinary repairs. Members discussed whether the program is reducing deferred maintenance and requested updated systemwide data on deferred maintenance and campus space utilization. Wilkie said the board is considering a new study to update deferred maintenance figures, which are based on information more than 12 years old. He also reported that several institutions have used current biennium funds for projects such as residence hall renovations, health sciences housing, generators, and building repairs. Later, the committee began a detailed walkthrough of a draft bill that would replace the current higher education funding formula with an FTE-based model and also revise the capital building fund structure. The draft would use fall enrollment FTEs, add completion incentives for degrees in in-demand fields, and create a separate research funding component for UND and NDSU tied to doctoral completions and external research expenditures. Members raised concerns about the use of older data in the formula, the treatment of waivers, the weighting of professional and health sciences programs, and the use of CIP codes to define CTE and education incentives. The bill draft would also combine capital building fund tiers, broaden eligible uses for deferred maintenance and legislatively authorized projects, change matching requirements, repeal the old formula chapter and the capital pool, and transfer funds from the Strategic Investment and Improvements Fund into the capital building fund. No final votes were taken during the portion provided; the meeting was primarily discussion and review.

Transcript Highlights:

• </c> error, which is about an 8% error rate. error, which is about an 8% error rate.
• </c> to the risk of the payment error rate. to the risk of the payment error rate.
• So other states have much lower rates of some states have 25% error rates.
• </c> rate and hopefully serve motans better? rate and hopefully serve motans better?
• </c> and maintaining low payment error rates. and maintaining low payment error rates.

Bills: HF45 , HF1148 , HF3624 , HF3586 , HF777

Committee: House Children and Families Finance and Policy

Keywords: HF45, Lake Benton, capital investment, bonding bill, state bonds, bond proceeds fund, Public Facilities Authority, public infrastructure, sanitary sewer, water main, storm sewer, utility replacement, U.S. Highway 75, road reconstruction, municipal infrastructure, local government grant, Minnesota bonding, capital appropriation, food insecurity, prepared meals

Transcript Highlights:

• To that point, who rated them such? Educators? No, the book creator. Mr.
• To that point, who rated them such? Educators? No, the book creator. Mr.
• We know what X-rated... We know what X-rated movies are.
• X-rated websites?
• Now, we've been growing at a rate of around 1.7% a year. Let's assume, though, a lower growth rate.

Committee: Senate Senate Government Committee of Reference

Summary: The committee approved the February 4, 2026 minutes and first held SB 1571. It then heard and advanced SB 1745, which would cap transaction privilege/excise tax rates in cities of 550,000 or more at 2.5% per classification unless voters approve a higher rate, with enforcement through the attorney general and state-shared revenue withholding for violations. Supporters argued it would protect taxpayers and restrain large-city tax increases; the bill was amended with a technical change and passed 4-3. The committee also advanced SB 1686, renaming Wesley Bolin Memorial Plaza as the Wesley Bolin and Charlie Kirk Freedom Plaza and authorizing memorial placements for Don Bowles and Charlie Kirk, which passed 4-3. The committee then took up SB 1567 and SB 1435, both aimed at restricting public entities, schools, and libraries from exposing minors to sexually explicit materials and from using public facilities for sexually explicit filming or access. Supporters said the bills were needed to prevent children from being exposed to pornography and to keep taxpayer resources from facilitating such material; opponents, including the ACLU, warned the definitions were broad, could chill speech, and could criminalize librarians and educators for handling literary or educational works. Both bills were amended and passed 4-3. SB 1435 also drew testimony about library access, sex education, and the risk of overbroad enforcement. The committee next considered SB 1433 and SB 1434, which would reorganize Maricopa County boundaries. SB 1433 would move portions of Maricopa County into neighboring counties, while SB 1434 would split Maricopa County into three new counties with a transition board and special elections. Supporters argued Maricopa County had become too large and unmanageable and that smaller counties would improve representation and water and regional governance; opponents said the proposals were costly, disruptive, and politically motivated. Both measures received due pass recommendations, with SB 1433 passing 4-3 and SB 1434 passing 4-3 with one not voting. Finally, the committee approved SCR 1024, requiring legislators to live in their district for one year before election, and SCR 1025, moving the legislative session start to the fourth Monday in January; both resolutions passed unanimously or near-unanimously, and the committee adjourned.

Transcript Highlights:

• The tax rate for any corporation that is less than $25 billion is...
• The tax rate for any corporation that is less than $25 billion is 2.1%.
• You raised the tax rate from 1.22% to 7.5%.
• If you uncap it, the rate will be 7.5%.
• I would say this: the 7.5% rate on advanced computing businesses would be by far the highest tax rate

Bills: HB2286 , HB2324 , HB2363 , HB2098

Committee: House Postsecondary Education & Workforce

Keywords: social work, licensure, alternative routes, education requirements, professional regulation, tuition waivers, veterans, education, children of veterans, higher education, military families, music therapy, temporary exemptions, healthcare, therapy practice, funding, tuition, financial aid, state budget, 904

Transcript Highlights:

• is just based on the passage rate?
• There's also a tuition rate for workforce courses.
• We'll be back over that rate of growth.
• and employment rates after school.
• I'd like to see it as a About their individual graduation rates and employment rates after school.

Summary: The Higher Education Budget Subcommittee met to review funding models for the Florida College System and district workforce education programs, with an emphasis on how new dollars are allocated in the program fund and how performance and targeted funding are incorporated. Chancellor Hebda explained the Florida College System model, including base program funding, student success and pipeline funds, performance incentives for industry certifications, and the 2022 president-developed formula that weights enrollment, workforce enrollment, completions, small-college factors, and regional cost differences, plus a targeted funding floor for colleges below a minimum per-FTE level. Vice Chancellor Goodman then outlined the district workforce model, which uses lagged enrollment, program cost weights, local revenue offsets, small-district adjustments, and unmet-need calculations to distribute lump-sum appropriations to school districts offering workforce education. The department also provided updates on several grant programs and funding delays. Goodman said the Workforce Development Incentive Grant, Pathways to Career Opportunities Grant, Graduation Alternative to Traditional Education Startup Grant, and teacher apprenticeship/mentor bonus programs all involve multi-year awards and often require reversions and reappropriations because projects are delayed, extended, or not fully obligated by year-end. She said the department is moving toward an electronic grants system and had already adjusted internal deadlines to speed awards, while acknowledging some reimbursement delays and explaining that mentor bonuses for teacher apprentices will not be paid until the first cohort reaches the statutory timing requirement. Members asked about tracking whether CTE students work in their trained fields, how Xello is used to inform students about career pathways, how FTE is calculated, whether the funding formulas could encourage growth over quality, and how students with disabilities are counted in workforce funding. Questions also focused on tuition, enrollment trends, and the gap between college and university funding. The committee heard that tuition has remained flat for more than a decade, enrollment has rebounded from COVID and is projected to exceed pre-pandemic levels, and the college system’s funding per FTE varies widely. Valencia College President Kathleen Plinsky testified in support of the proposed formula and an additional $200 million for the Florida College System, saying Valencia is the second-largest college in the state but ranks last in per-FTE funding, which has made it difficult to recruit and retain faculty and admit qualified students in high-demand programs like nursing. The committee took no vote and adjourned after the presentations and questions.

Transcript Highlights:

• The county has a recycling rate of 45%, which exceeds both the MPCA target recycling rate of 35% and
• </c><00:14:57.839><c> of</c><00:14:58.040><c> 45%</c> recycling rate of 45% recycling rate of 45% which
• </c><00:15:03.759><c> of</c> recycling rate of recycling rate of 35%<00:15:05.560><c> and</c><00:15:05.880
• As property owners, it is a burden that we are assessed at a different rate.
• Swanson looked it up for me, so their city tax rate is, uh, 96%.

Bills: HF1359 , HF1829 , HF290 , HF1933 , HF926

Committee: House Taxes

Keywords: solid waste management, resource management account, environmental fund, taxation, Minnesota statutes, homestead, property tax, classification, disability, resort properties, recreational use, commercial property, tax refund, estimated tax, interest on refunds, income tax, corporate franchise tax, S corporation, partnership, corporation

Transcript Highlights:

• stabilize and lower rates, to reduce rate<00:09:32.400><c> volatility,</c> rate volatility, rate volatility
• ,</c> refinancing at a lower rate, refinancing at a lower rate, and<00:16:05.640><c> securitization</
• </c><00:24:31.600><c> They</c> our customers pay for in rates. They our customers pay for in rates.
• </c> provide stability in rates. provide stability in rates.
• </c><00:51:27.680><c> and</c> goals are lowering customer rates and goals are lowering customer rates

Keywords: Meeting Start 00:00:00 Attendance Roll Call 00:01:28 Introduction of Guests 00:02:08 American Electric Power and Kentucky Power Presentation 00:03:31 SB 89 Discussion 00:53:55 SB 89 Roll Call Vote 01:07:46, 958, all

Summary: The committee met for an initial natural resources hearing with a quorum present and introductory housekeeping, including prayer, roll call, and recognition of guests. Chair Smith outlined ground rules for questions and then invited Kentucky Power and American Electric Power representatives to the table to discuss a proposed plan involving the Mitchell Power Plant and future generation needs in Eastern Kentucky. Witnesses Cindy Wiseman, Alex Vaughn, and AEP CEO Bill Fehrman said the company’s goals are to stabilize and lower rates, reduce rate volatility, and expand generation in the Commonwealth. They explained that Kentucky Power seeks legislative authority to securitize its 50% interest in the Mitchell coal plant, describing securitization as a refinancing mechanism that would lower annual plant costs by about $34 million and help offset roughly one-third of the expected cost of adding new generation in Kentucky. They emphasized that the proposal is not intended to close Mitchell, and said Kentucky Power currently has no plan to divest its interest; the company still needs the plant to serve customers while it pursues additional dispatchable generation in Kentucky. Members pressed the witnesses on the plant’s book value versus fair market value, whether the Mitchell interest had ever been assigned a nominal value, how any divestiture proceeds would be handled, whether Kentucky Power owns Wheeling Power, and how long Mitchell can continue operating. The company said it values Mitchell at net book value for accounting purposes, not fair market value, and explained that Wheeling Power is a separate AEP affiliate and that West Virginia affiliates have already proposed securitization of their share. Witnesses said Kentucky Power’s interest cannot technically operate past 2028 without additional environmental control investment, while the West Virginia side is depreciating through 2040. They also described the financing timeline, saying securitization would require enactment of legislation, a PSC financing order, bond issuance, and then parallel work to acquire or build new generation, with any reinvestment terms to be addressed through the regulatory process.

Transcript Highlights:

• And then last but not least, why are rates increasing?
• Now, we know that electric rates aren't going to go... ...last 20 years.
• Because those new rates are hitting bills today.
• Rising rates also hinder progress toward the state's climate goals.
• So they're specific to whatever rate they are under in the utilities.

Committee: House Utilities and Energy

Keywords: 988, house, all