Transcript Highlights:

• So we have strong relationships now with TripAdvisor and with other social media entities to share.
• Relationships now with TripAdvisor and with other social media entities to showcase how beautiful this
• areas, which is also very important for us to support our local national parks and conservation entities
• I've helped them put it on the map for James Beard to be recognized for more of these entities that will
• So they can scale to be what would be the dream, right, like a mid-sized, larger corporation entity.

Summary: The House Committee on International Trade held its first meeting of the session with member introductions and opening remarks emphasizing Arizona’s interest in foreign relations, border commerce, and collaboration with trading partners, especially Mexico. Chair Tony Rivera noted the state’s trade offices in Mexico and framed the committee’s work as a way to strengthen Arizona’s international relationships. Staff were introduced, and members were reminded of amendment deadlines, though no bills were heard. The committee then heard a presentation from the Nogales-Santa Cruz County Chamber of Commerce and the Santa Cruz County Provisional Community College District. Chamber representatives described Nogales as a major gateway for trade, tourism, agriculture, and logistics, and said the region is investing in entrepreneurship support, bilingual business resources, digital and e-commerce training, and workforce development tied to mining and logistics. They also highlighted tourism promotion efforts and said infrastructure, housing, and pedestrian access at the ports of entry are major needs. Committee members asked about regulatory and infrastructure improvements, housing and health-care challenges, and tourism data. Greg Lucero of the provisional community college described the district’s unusual status, its contract with Pima College to provide instruction, and the impact of South32’s mining project on enrollment and workforce training demand. He said the district is focusing on AI, advanced manufacturing, trades, and ESL support, while working toward accreditation. Members asked about industry partnerships, certificate timelines, and programs tied to Arizona-Mexico trade. The committee also heard from Cattlemex, T4 Ranch, Arizona Cattle Feeder Association, and J.M. Fletcher Cattle Co. on the closure of the U.S.-Mexico border to live cattle imports because of New World screwworm concerns. Testimony argued that Sonora cattle are safe, that Arizona ports are strategically important, and that reopening the ports would support feedlots, packing plants, jobs, and lower beef prices. Witnesses urged a state-by-state USDA reopening, especially for Sonora, and said Arizona should not be penalized for outbreaks elsewhere in Mexico. Members asked about industry support, the effect of grazing restrictions, the future of Arizona’s livestock sector, and whether a Sonora-specific carve-out could be safely implemented. No votes or formal actions were taken.

Transcript Highlights:

• Under this bill, subject to appropriation, the Department of Health must contract with a training entity
• Under this bill, subject to appropriation, the Department of Health must contract with a training entity
• single class period and be adaptable in a variety of formats, the Department of Health must select an entity
• The amendment requires covered entities to annually report certain 340B information to the Department
• , and how the covered entity uses 340B drug savings.

Bills: SB5921, SB5185, SB6182, SB6115, SB6258, SB5916, SB5981, SB5985, SB6019, SB6161, SB6183

Keywords: psilocybin, mental health, therapy, decriminalization, legalization, international medical graduates, preceptorship, hardship pathways, medical practice, licensure, abortion, reproductive health, pregnancy termination, clinic access, abortion access fund, abortion savings account, health carrier assessment, insurance assessment, health insurer tax, Department of Health

Transcript Highlights:

• Indian health care providers and urban Indian health organizations to the definition of health care entity
• B3 requires any health care provider or health care entity that receives abortion...
• B3 requires any health care provider or health care entity that receives abortion medication under this
• Health care providers or health care entities may only distribute abortion medications to residents of
• DOC to create an annual report that lists any health care entities that receive abortion medications,

Summary: The Senate Human Services Committee heard public testimony on Senate Bill 5977, which would require DCYF to publish child near-fatality review reports within 180 days and post them publicly, with confidential information redacted as allowed by law. Senator Nikki Torres said the bill is intended to improve transparency, accountability, and child protection. There was no public testimony on the bill, and the hearing was closed. The committee then heard Senate Bill 6184, an Office of Homeless Youth request bill sponsored by the chair. The bill makes technical and policy updates to OHY programs, including replacing the term “street youth” with “unaccompanied homeless youth,” allowing certain flexible funds to go directly to youth or vendors, renaming and making permanent the H-Sync program, expanding eligibility and housing options in the Independent Youth Housing Program, and clarifying shelter and reporting provisions. Testifiers from Commerce, advocates, school support organizations, and a youth advocate all supported the bill, emphasizing that the changes would improve access, consistency, and housing stability for unhoused youth. The hearing was then closed. The committee moved into executive session on seven bills. SB 5681, concerning intellectual and developmental disability services at age 20, had Amendment A1 fail and the proposed substitute was adopted and sent to Ways and Means. SB 5917, regarding abortion medication in DOC, saw one amendment adopted and multiple Christian amendments rejected before the bill was sent to Rules. SB 5942, renaming the DCYF Oversight Board as the DCYF Accountability Board and revising its duties, had only Amendment C16 adopted; the amended bill passed to Rules. SB 6024, on duplicative audits for community residential providers, passed without amendment. SB 6036, concerning adult family homes and foster care licensees, had Amendment D1 adopted and the bill passed to Rules. SB 6085, on the DOC institutional welfare account, had Amendment E1 adopted and the bill was sent to Ways and Means after several other amendments failed. In each case, the committee voted to advance the bill after considering amendments, with most of the proposed changes from Senator Christian failing except where noted.

Transcript Highlights:

• This modifies the definition of covered provider so that it does not exclude public entities and tribal
• This amendment would modify the bill to remove the exemption for public entities and tribal nations under
• This amendment would modify the bill to remove the exemption for public entities and tribal nations under
• Our public entities to, even if this bill does not explicitly pull them in at this time.
• So if a zone lasted more than 30 days, the entity that created the zone would have to go through the

Summary: The committee first took executive action on House Bill 1170, which would require disclosures when content is developed or modified by artificial intelligence and address provenance tools and enforcement. Staff described a proposed substitute and several amendments. The committee rejected amendments that would have applied the bill to public entities and tribal nations, added technical-and-commercial-feasibility language, and created a geo-blocking provision or a right to cure. It adopted amendments allowing comparable existing detection tools to satisfy the bill, protecting covered providers from liability when disclosures are unintentionally altered despite reasonable preservation measures, and setting a January 1, 2028 effective date. Members then debated whether the bill was ready for enactment, with supporters emphasizing transparency and consumer trust and opponents warning it was premature and could hinder innovation. The committee voted 7-4, with two excused, to report the bill out of committee with a do-pass recommendation. The committee then heard House Bill 2186, which would expand state support for applicants seeking federal economic development funds, create a matching-funds account, and require a study of available federal grants. The prime sponsor said the bill would help Washington capture more federal dollars, especially for projects that require matching funds, and would expand the Fund Hub WA website beyond environmental grants. Testimony in support came from the Port of Seattle, the Washington Economic Development Association, the City of Pasco, a downtown Kennewick nonprofit, and the Department of Commerce, all saying the bill would improve competitiveness, help underserved communities, and leverage state dollars for larger federal returns. Commerce said it was still developing the fiscal note and technical edits. The hearing on HB 2186 was then closed. Finally, the committee opened a hearing on House Bill 2351, which would protect emergency responders and emergency response operations. Staff explained that the bill would bar local governments and incident command systems from assisting enforcement actions targeting emergency responders based on protected status, create emergency operation zones with restrictions on law enforcement activity, and change the obstruction statute to cover obstruction of emergency responders. The prime sponsor and many local officials, firefighters, and advocates testified in support, citing incidents where federal enforcement actions disrupted wildfire response and other emergencies. Some witnesses raised concerns about administrative burden, ambiguity, and possible unintended consequences, including a proposed mental-health defense and clarification of responder identification. The Association of Sheriffs and Police Chiefs and the Association of Washington Cities said they supported the goal but wanted changes to avoid conflicts and reduce burdens. The hearing concluded without a vote.

Transcript Highlights:

• , if the purpose of the sale or transfer is to meet conditions of the government entity to enable the
• result of development and the land removed as a result of the sale or transfer to the government entity
• does not exceed 20 percent of the total acres of classified land. ...or transfer to the government entity
• So you're creating a new entity, sort of, by creating the fire protection district, and then the taxing
• Senate Bill 6037 would allow fire services to be provided through a separate entity from the city and

Summary: The Senate Local Government and State Parks Committee heard several bills focused on local government finance, land use, and public safety. SB 5903 would deem a cemetery district commissioner elected if only one qualified candidate files, with sponsor Senator Cortez saying it would save ballot-printing costs and local resources; there was no testimony in opposition. SB 6037 would create or modify a voter-approved option for cities and towns to form a single-city fire protection district, adjust levy and notice rules, allow administrative service contracts with the city, and clarify commissioner elections; Senator Cortez and multiple city and fire officials said it would give communities more flexible, locally controlled funding tools for fire service, while committee members asked about how it would work and the fiscal impact. SB 5983 would exempt certain current-use land transferred to a government entity for right-of-way from rollback taxes when the transfer is tied to development conditions and stays within a 20% acreage limit; Senator Leas described it as helping a family farm avoid an unfair tax bill, and there was no testimony on the bill. The committee also heard SB 5995, which would remove the 2031 sunset on the prohibition against using port funds to buy fully automated marine container cargo handling equipment. The sponsor and labor witnesses argued the bill protects jobs, keeps public dollars from underwriting automation, and still allows zero-emission, human-operated equipment; port and labor representatives testified in strong support, while the sign-in sheet showed substantial public interest both for and against. SB 6016 would change how urban growth area swaps treat critical aquifer recharge areas, making the rules for annual and periodic updates more consistent and allowing swaps if they do not increase net CARA acreage within the UGA; the sponsor, Commerce, housing, business, and development interests said it was a technical fix that supports housing and consistency, while one witness warned it could weaken groundwater protections and create litigation risk. Finally, the committee heard SB 6066, which would let counties, cities, towns, or WSDOT designate “accident risk zones” on roads with repeated crashes, require a public hearing and engineering review, double certain traffic penalties in the zone, and dedicate half the extra revenue to safety improvements before dissolving the zone. Supporters from cities, counties, and Pasco said it could help address dangerous intersections and fund fixes, though several witnesses raised liability and implementation concerns and asked for further stakeholder work. No votes were taken in the transcript; the chair closed each hearing after testimony and sign-in counts were noted.

Transcript Highlights:

• That may be a little different than other state entities and a couple ways of one of which is that we
• appropriates positions to the court system, appropriates the positions and the dollars by budget entity
• So, for instance, the district Courts of appeal as a distinct budget entity received X number of positions
• It's understandable the Legislature does not fully fund the court system or other state entities.
• But those entities getting up to that 80,000 mark. So we have that in our lbr this year.

Transcript Highlights:

• I think House Bill 2225 will help get other entities that impose impact fees to catch up to what's...
• Power systems is quite strong, but the approval process from jurisdictional entities can be slow and
• We hear from our members is that it can really vary from jurisdictional entity to jurisdictional entity
• No, I do not believe so and and the city's still well the jurisdictional entities this covers more than
• So the city, the city still has responsibility. yet you're using a third party entity too.

Bills: HB602, HB1322, HB1930, HB2225, HB2304, HB2494, HB3275, HB3810, HB3919

Keywords: affordable housing, land use, zoning, urban planning, community development, housing crisis, mixed-use development, sustainability, municipal utility district, board of directors, qualifications, land ownership, Texas, taxation, residency, municipal approval, subdivision plans, local governance, plats, local government

Transcript Highlights:

• Some of those entities that spoke today would like to house some of those students to help develop the
• And if not, they're going to make the referral to you to another organization or entity nearby.
• And other entities that provide services to students would be required to determine how to make condoms
• Can you Tell me, give me an idea of what those other entities are or who they are.
• Representative, and just real quick, the last line, line 25, it talks about those other entities. that

Transcript Highlights:

• We know that the two entities have disagreements with each other on governance.
• Are they still separate entities in your association, or what's the relationship there?
• So all of those entities together, Brook Divide and R&T.
• And I will say that BNSF and a number of local entities participated in the feasibility study.
• There would be an operational entity, and those entities, namely the stakeholders, would have to pay

Summary: The Water Topics Overview Committee met to review several interim studies and receive updates from the Department of Water Resources. The committee approved the March 26, 2026 minutes, observed a moment of silence for the late Representative Conmy, and welcomed Representative Hansen to the committee. Staff then reported that the watershed management study and the stormwater/wastewater study had both satisfied the presentation requirements in their study directives, with no further required testimony unless members wanted additional information. The department’s main presentation focused on major water projects and agency operations. Reese Haas and staff updated members on the NAWS project, the Southwest Pipeline Project, Devils Lake outlet operations, low-head dam safety work, floodplain management repository implementation, data center water use, and the 2027 Water Development Plan. Members asked detailed questions about NAWS funding sources, remaining project costs, capacity concerns for All Seasons and other users, and whether current construction is being designed for future demand. The department said NAWS remains on track for substantial completion by October, that remaining NAWS funding will come from a mix of federal, state, and local sources, and that current construction is designed for ultimate capacity while some future components will be adjusted for increased demand. A large portion of the meeting was devoted to the department’s cash management, Resources Trust Fund revenues, carryover balances, and the State Water Commission’s cost-share program. The department reported $340.6 million in carryover remaining, explained that much of it is already obligated to long-term projects, and noted that oil price forecasts and stripper-well exemptions will affect future revenues. Members raised concerns about large carryovers, affordability for local sponsors, and whether the state should continue obligating money multiple bienniums ahead. The department said it is working with the commission on a revised prioritization framework, including high/moderate/low project categories and a two-tier pre-construction/construction approach, to better manage obligations and affordability. The committee also reviewed Deloitte’s finalized studies on regional governance/finance and cost-share policy. Deloitte presented options for Southwest, NAWS, and Red River governance, with stakeholders generally favoring keeping NAWS largely as is, using the current Southwest model with improvements, and pursuing a more structured governance option for Red River. On cost share, the department said Deloitte’s recommended package would cover projected needs through the 2030s, but would require policy changes such as lower percentages for some project types, a 25% replacement-project rate with a cap, and possible bonding or delayed reimbursement strategies. No votes were taken on these policy questions, and the chair indicated the committee would continue the discussion at future basin meetings and the September Water Topics meeting.

Transcript Highlights:

• We agree with the premise that there needs to be a considerable amount of capital in these entities for
• </c> these entities these entities uh<01:18:45.000><c> for</c><01:18:45.160><c> the</c><01:18:45.480>
• But in terms of increasing costs, I mean, we're talking about an arrangement... entity in terms of the
• what what they do entity in terms of the what what they do with<01:22:18.240><c> the</c><01:22:18.360
• Those are really extreme that entity.

Keywords: 1191, senate, all

Transcript Highlights:

• but we found that trust other entities but we found that um<00:41:03.960><c> for</c><00:41:04.160><c
• What percentage of it is designated to an entity by the donor, you mean?
• by the donor you mean um so entity by the donor you mean um so restricted<00:52:15.559><c> for</c><00
• Yeah, so this is, from what I understand, no P3 is alike, and so this one is with really four entities
• Yeah, so this is, from what I understand, no P3 is alike, and so this one is with really four entities

Keywords: 912, senate, all

Summary: The meeting covered several Senate resolutions related to the University of Hawaiʻi system, the East-West Center, and related education and workforce issues. On SCR 178 and SR 48, testifiers strongly supported the East-West Center, describing it as an important Hawaii asset that promotes cultural exchange, global citizenship, diplomacy, and ties to the University of Hawaiʻi. Speakers said the Center has helped train leaders and bring international connections and investment to Hawaii, and they urged continued funding despite federal cuts. The chairs then recommended passage with technical amendments, and both resolutions were adopted by the committees. The committee also heard testimony on resolutions calling for audits of University of Hawaiʻi operations. On SR 32 and SCR 50, the University of Hawaiʻi said it supported the resolution and had already begun work on establishing a Bachelor of Science in nursing at the UH Maui campus, with additional staff available on Zoom to answer questions. On SR 160 and SCR 142, which sought a financial and performance audit of UH Mānoa facilities, UH Athletics said it already undergoes annual financial audits required by NCAA bylaws but not performance audits, and discussed its internal evaluations, contingency planning, and efforts to address concerns raised by student athletes and staff. The committee then took up SCR 138 and SR 55, requesting a management and performance audit of the UH Office of the Vice President for Academic Strategy. Vice President Deborah Halbert and P20 Director Steve Shotz said they did not oppose the audit and believed it could provide clarity, while explaining that the office is relatively new and works collaboratively across campuses on articulation, transfer, grants, and workforce alignment. They described grant programs including Perkins, GEAR UP, preschool development, and data-sharing efforts, and said they are focusing more resources on teaching, health care, and skilled trades. The discussion also touched on SR 54, a proposed performance audit of the UH Foundation, where foundation representatives said they already undergo annual financial audits, acknowledged some donor communication issues, but emphasized improved stewardship and growth in fundraising over recent years.

Transcript Highlights:

• Over the years of our changes in the mandated reporting law, all we have done really is to add entities
• The Child Welfare Council is another entity that establishes a framework for interagency collaboration
• And so that usually means working really closely with whatever public entity is charged at the local
• But sometimes they need more than that, particularly when it's about partnering with other entities.
• How can we develop a more intentional collaboration between these two entities to make sure that all

Summary: The Assembly Budget Subcommittee on Human Services held an informational hearing on child welfare, foster care, child support, and related prevention efforts. The chair opened by emphasizing mandated reporting reform, foster care system improvements, and community-based prevention, and noted that no votes would be taken. Public testimony focused first on mandated reporting, where a lived-experience advocate and several organizations argued that the current system overreports families, especially Black, Native, and Latino families, causes trauma, and should be reformed through standardized training, clearer thresholds, and stronger community supports rather than more hotline referrals. Casey Family Programs cited data showing nearly 90% of reports are unsubstantiated, while CDSS said it is already forming a Mandated Reporting Advisory Committee, updating training, and exploring community pathways and possible changes to the list of mandated reporters. CWDA and SEIU supported training and alternative response concepts but stressed child safety, county capacity, funding, and the need for careful implementation and accountability. The committee then discussed a proposal to create a foster care multi-agency office within the California Health and Human Services Agency, led by a chief foster youth advocate with authority to coordinate across departments. Advocates said foster youth often need services from education, health, housing, and behavioral health systems that do not coordinate well, and argued that a central office with real authority could improve placement stability and access to services. CDSS responded that existing structures already provide coordination, including AB 2083 interagency teams, the Child Welfare Council, complex care steering committees, and the foster care ombudsperson, but said it was open to technical assistance. Members raised concerns about whether the new office would have enough authority and funding to avoid becoming another layer of bureaucracy, and the chair emphasized the need for real “teeth” and better interagency action. The final major topic was the continuation and expansion of Promise Neighborhoods. A community leader described strong early results from the state-funded neighborhoods, including improved kindergarten readiness, reduced chronic absenteeism, higher graduation rates, food access, housing supports, and mental health services, but warned that current funding sunsets in June 2025 and that a fiscal cliff could jeopardize staff and services. CDSS said the four funded neighborhoods have reported positive outcomes and valuable flexibility, but also noted challenges with one-time funding, student mental health, and long-term planning. Assemblymember Mia Bonta urged continued investment, saying the place-based model is difficult to rebuild once lost, and the chair asked LAO to help identify the minimum funding needed to preserve the existing infrastructure while evaluation results are still pending.

Transcript Highlights:

• </c><00:04:41.720><c> um</c><00:04:41.919><c> those</c> those three entities um those those three entities
• </c><00:09:51.640><c> saying</c> pointing at different um entities saying pointing at different um entities
• One is I purchased the assets and created a brand new entity. This one ended, this one started.
• One is I purchased the assets and created a brand new entity. This one ended, this one started.
• the end of you cannot collect from the new entity because of a legal change of operations.

Keywords: 1183, house

Transcript Highlights:

• contained the following general fund appropriation in Schedule 20-945, State Aid, Local Government Entities
• session of the Legislature contains the following appropriations from State Aid to Local Government Entities
• Legislature contains the following State General Fund appropriations of State Aid to Local Government Entities
• amendments to contracts between the Department of Cultural, Recreation and Tourism and the following entities

Keywords: 965, house, all

Summary: The Joint Legislative Committee on the Budget met on March 19, 2006, and first approved a fiscal status statement and five-year baseline budget with no changes. The committee then approved several B.A. 7 budget adjustments, including additional authority for the Department of Culture, Recreation and Tourism for cultural development activities, a federal Rural Health Transformation Program grant for the Department of Health with 15 added positions, and a $1 million increase from the major events incentive fund to reimburse costs tied to the Zurich Classic of New Orleans. The committee also reviewed a Louisiana Military Department project to convert Building 2013 at Jackson Barracks into a cyber warfare operations facility, increasing total funding authority to $29.7 million to add a SCIF component. Members approved clarifications of legislative intent for several prior appropriations, including parish drainage and local government items, and approved extensions or amendments to contracts for tourism advertising, the Office of Risk Management’s third-party claims administrator, and a DEQ contract with RTI International. The committee heard presentations on two university-related items: Louisiana Tech’s plan to shift campus buildings from its aging in-house cogeneration system to utility service from the City of Ruston and a local gas provider, which is expected to save money even after debt service, and UL Lafayette’s request to extend a consulting contract for continued support of its Banner ERP system. Members asked questions about the Louisiana Tech project’s scope and savings, but no objections were raised on the items before the committee. The meeting concluded with adjournment after a motion by Senator Fesi.

Transcript Highlights:

• HAVE STRUCTURED OUR DIVISION SO WE CAN GROW OUR OFFERINGS TO THE STATE AGENCIES AND GOVERNMENTAL ENTITIES
• POLICIES AND PROCEDURES RELATED TO PROCUREMENT CONTRACT MANAGEMENT AND WORK ACROSS GOVERNMENTAL ENTITIES
• THESE SOURCES ARE ADOPTED FROM OTHER ENTITIES OR GOVERNMENTAL ENTITIES WITHIN THE UNITED STATES AND THEY

Keywords: 999, senate, all

Transcript Highlights:

• There weren't a lot of bodies or entities. It wasn't terribly robust.
• There weren't a lot of bodies or entities, I should say, involved.
• But the fact is that we've run Fannie Mae and Freddie Mac as quasi-public, quasi-private entities for
• He said one entity could receive four different tranches of revenue, but he did not think that would
• He added that there are now three entities domiciled in North Dakota doing this kind of work.

Keywords: 908, all

Transcript Highlights:

• There weren’t a lot of bodies or entities involved. It wasn’t terribly robust.
• There weren’t a lot of bodies or entities, I should say, involved.
• There weren’t a lot of bodies or entities involved. It wasn’t terribly robust.
• There weren’t a lot of bodies or entities involved, I should say, involved.
• Now we've got three entities domiciled in North Dakota doing that.

Summary: The committee met to approve prior minutes and receive updates on the Legacy Fund transparency website and fund performance. Staff reported the website procurement was in contract negotiations, with a planned go-live around November 1, and that the site would provide downloadable, more transparent information on fund holdings, allocations, history, and legislative appropriations while protecting confidential data. The investment office then reviewed performance through January 2026, describing strong returns relative to benchmarks, noting real estate and fixed income as weaker areas, and explaining that the fund’s diversification and internal management had helped offset market volatility, including recent geopolitical impacts. Members also discussed the in-state investment program, especially the Bank of North Dakota’s CD-match allocation. Several members questioned whether the program had been static for years and whether the uncommitted balance should remain parked there if it was not being used. The committee voted to pause further transfers into the program until the Bank provides a report and the committee can consider possible statutory changes; the motion also requested a cost-benefit analysis from RVK, and it passed by roll call vote. In the afternoon, RVK presented its review of the investment policy statement as it relates to the in-state investment program. The consultant said it found no major policy impediments, and that implementers and stakeholders generally felt the program was proceeding as intended. RVK emphasized best practices such as third-party due diligence, competitive risk-adjusted returns, diversification, pacing, and exit strategies, while cautioning that required lower-return investments or spending commitments can create pressure on the fund’s long-term real value. The consultant also raised ancillary concerns about state-level concentration risk, the need to distinguish between public and commercial infrastructure, and the lack of a central repository for all state funding commitments to the same projects.

Transcript Highlights:

• They're typically owned, as is the case in the in-state equity program, by other entities that are not
• There weren't a lot of bodies or entities. It wasn't terribly robust.
• There weren't a lot of bodies or entities, I should say, involved.
• But you’re right, you could have one entity getting four different tranches of revenue.
• Now we’ve got three entities domiciled in North Dakota doing that.

Summary: The committee met with a quorum, approved the October 22 minutes, and received an update on the planned Legacy Fund transparency website. Jody Smith said the site is in contract negotiations after six bidders responded, with a target go-live around November 1 after added security review. The website is intended to provide downloadable, more detailed public information on the Legacy Fund, including historical changes, legislative allocations, and investment breakdowns. Members asked about comparables and data detail, and Smith said North Dakota would likely be the first state to offer this level of sovereign wealth fund transparency. Scott Anderson of the Retirement Investment Office then reviewed Legacy Fund performance through January 31, 2026, describing strong returns, low fees, and the benefits of diversification. He noted that real estate had been a drag on returns, but it is a small portion of the portfolio, and he discussed market effects from geopolitical events, inflation, credit spreads, and private credit. Members also questioned the in-state investment program and the BND CD-Match program. Representative Bosch moved to pause new transfers to the CD-Match program until the bank reports back, and the motion passed on a roll call vote. The committee also agreed to request a cost-benefit analysis from RVK on that change. After lunch, the committee heard from RVK consultant Jim Voidko on the investment policy statement, focused on the in-state investment provisions. He reported that, after interviews with implementers and stakeholders, RVK found no major policy impediments in the current IPS and no strong calls to change the size limits or core guardrails. He emphasized the importance of risk-adjusted returns, diversification, pacing, exit strategies, and governance, and warned that foregone returns or higher spending obligations can pressure the fund’s long-term mission. He also recommended clearer terminology around “infrastructure,” distinguishing public infrastructure from commercial infrastructure, and noted unresolved policy questions about nexus and economic diversification. The committee then began reviewing proposed IPS updates with Rio staff.

Transcript Highlights:

• We continue to meet with regulated entities on the proposal and how it might affect business operations
• That includes the creation of a new, or intent at least to create a new oversight entity.
• We're shifting more of the abatement requirements or obligations onto entities that don't receive that
• And you will see, you know, compliance entities probably have a little different perspective on what
• entities that you all see?

Summary: The committee heard an overview of CARB’s proposed amendments to California’s Cap-and-Invest program, implemented under AB 1207 and SB 840 after last year’s reauthorization through 2045. CARB said the draft rule changes are intended to support affordability, market certainty, and the state’s 2030 and 2045 climate targets, while also addressing offsets, utility allowance transfers, leakage protections for industry, and post-2030 allowance budgets. Members emphasized the importance of completing the rulemaking on schedule this spring so the changes can take effect by September 1, 2026. A major focus was how allowances are allocated among electric utilities, natural gas utilities, industry, and the Greenhouse Gas Reduction Fund. CARB explained that the proposal transfers natural gas utility allowances to electric utilities over time to support electrification and ratepayer protection, while maintaining free allowances for industry to reduce leakage risk and preserve in-state manufacturing and refining. Several members and panelists questioned whether the proposed utility changes could raise rates, whether the transition from gas to electric credits should happen faster, and whether the industrial allocation changes reduce climate credit and GGRF revenues more than necessary. CARB and panelists said they were open to additional data and comments, and noted that the proposal is still in public comment. The committee also discussed carbon capture, carbon removal, and refining. Members asked CARB to ensure that CCUS and CDR are clearly recognized as viable compliance pathways and to keep SB 905 rulemaking on track. On refining, members raised concerns about imported gasoline, leakage, and the need for better data on the carbon intensity of imported fuels; CARB said cap-and-invest applies to fuel suppliers at the rack, while life-cycle accounting issues are handled more through the Low Carbon Fuel Standard and related modeling. CARB said it is continuing technical work on those data tools. In the second panel, the LAO, IEMAC, EDF, and SCAPA representatives generally agreed that the program faces real tradeoffs between affordability, ambition, and leakage protection. The LAO and IEMAC stressed that the Legislature should scrutinize how CARB divides the allowance “pie,” since more free allocations to utilities or industry mean less revenue for GGRF. EDF argued the program could be somewhat more ambitious in the near term without harming affordability, while SCAPA said the proposal would reduce allowances for publicly owned utilities and could undermine early decarbonization investments and ratepayer benefits. No votes were taken during the hearing.

Transcript Highlights:

• We do regular PBMs, but in the case with the IBAC entities, the PBMs have a direct contract with the
• entity Therefore, the law does not directly apply to them.
• A lot of healthcare entities leverage patient portals and case management platforms.
• Our issue is that not only do we want the data protected, but we want the entities protected as well,
• small for-profit entities that have data on fewer than 15,000 New.

Bills: SB20, SB53, SB86, SB96, SB129

Keywords: prior authorization, pharmacy benefits manager, PBM, health insurer, prescription drugs, step therapy, formulary, auto-adjudication, electronic portal, appeals, medical necessity, serious mental illness, mental health, schizophrenia, bipolar disorder, major depression, substance use disorder, addiction treatment, cancer, autoimmune disorder