Video & Transcript Research : 'Digital Assets'
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MN
Transcript Highlights:
- Our assets are diverse and unlike many other state assets.
- We have many other asset types.
- Our assets are diverse and unlike many other state assets.
- Our assets are diverse and unlike many other state assets.
- Our assets are diverse and unlike many other state assets.
TX
Transcript Highlights:
- For example, the amount of digital Happen.
- But Medicaid has asset limits. And so your aunt had assets that exceeded that limit.
- And so your aunt had assets that exceeded that limit.
- She was paying anywhere from $5,000 to $10,000 a month until she ran out of her assets or the asset level
- Out of her assets or the asset level got below, and then she went on Medicaid, and Medicaid paid for
MN
Minnesota 2025-2026 Regular Session
Committee on Jobs and Economic Development - 03/16/26
Jobs and Economic Development
Transcript Highlights:
- and digital literacy and behind<00:35:57.520>
the <00:35:57.680>wheel <00:35:57.920> - <00:59:40.640>
transfer there was a charitable asset transfer there was a charitable asset - An's Place, including the property and then any assets they had left.
- An's Place, including the property and then any assets they had left.
- An's Place, including the property and then any assets they had left.
CA
Transcript Highlights:
- The bill authorizes funds previously provided for the distributed energy backup assets program to be
- from $130,000 for an individual and $195,000 on the asset test to $21,000 and $31,000.
- We look forward to critical steps to address. ...including Medi-Cal asset tests, dental, and IHSS.
- Also appreciate that the reduction of the Medi-Cal asset test to such an unrealistically low level was
- rejected, as the Legislature is exploring alternatives in the future in terms of the asset limit so
TX
Transcript Highlights:
- Regarding liability, currently the US government underwrites the ISS, the asset or first-person asset
- as the use of a person's name, image, signature, voice, or likeness through social media or other digital
- Online impersonation has become a common and deeply damaging form of digital fraud.
- We must equip Texans with the legal tools to respond to digital threats and combat the rise of online
- In some cases, you know, you can do this completely offline, upload something and hide your digital identity
TX
Transcript Highlights:
- Regarding liability, currently, the U.S. government underwrites the ISS, the asset, or first-person asset
- as the use of a person's name, image, signature, voice, or likeness through social media or other digital
- Online impersonation has become a common and deeply damaging form of digital fraud.
- We must equip Texans with the legal tools to respond to digital threats and combat the rise of online
- In some cases, you can do this completely offline to upload something and hide your digital identity
Bills:
HB5621, HB4904, HB5067, HB5076, HB5081, HB5354, HB4862, HB3847, HB4088, HB4157, HB2966, HB2287, HB4203, HB4803, HB4737, HB5093, HB783, HB5411, HB4281
Keywords:
HB 5621, consumer protection, Deceptive Trade Practices Act, DTPA, Business & Commerce Code, attorney general, consumer protection division, district attorney, county attorney, local prosecutor, civil investigative demand, CID, voluntary compliance, financial institution records, bank records, privacy, protective order, in camera review, trade secrets, insurer
TX
Transcript Highlights:
- We create a digital twin of each school like a video game, so we can prepare ahead of time and know exactly
- people like myself and Rick that understand how to control these operations and sort of deploy the assets
- Operations and sort of deploy the assets and be able to sort the situation out.
- And then we overlay all of the real-time video camera feeds over that digital twin.
- Perhaps your second grader goes from subtracting single-digit numbers up to subtracting three-digit numbers
Summary:
The Senate Committee on Education K-16 met with a quorum and announced a full agenda, including combined public testimony for two bills related to student personal communication devices. The committee first took up Senate Bill 1262 by Senator Nichols, a school safety cleanup bill following House Bill 3. The bill would allow TEA to commission peace officers for school safety purposes, require annual renewal of good-cause exceptions to armed guard requirements, create a new report based on intruder detection audits and vulnerability assessments, and require behavioral threat assessment teams to include someone with specific knowledge of a special education student’s disability. Committee members asked about the difference between TCOLE licensing and TEA commissioning, the scope of the officers’ authority, and how the good-cause exception would work. The committee substitute was adopted, and public testimony included support from school safety and drone-response advocates, Disability Rights Texas in favor of the special education provisions, and a student witness raising concerns about the mental health impact of repeated lockdowns and the need for immediate, reliable school safety responses. The bill was left pending after testimony, then the committee briefly recessed and later reopened testimony to hear the student witness.
The committee then laid out Senate Bill 2252 by Senator Creighton, a major early literacy and numeracy bill for kindergarten through third grade. Creighton said the bill builds on prior literacy efforts by funding teacher stipends for literacy and math academies, providing free and clearly administered screeners and assessments, expanding screening options, clarifying how results are used, supporting high-quality pre-K, and increasing the early education allotment. He emphasized low reading performance and the need for early intervention. Members discussed how the bill differs from earlier academy models and whether the assessments are diagnostic or high-stakes; Creighton and witnesses said the tools are intended to identify students needing support, not to serve as punitive testing. The committee adopted the substitute.
Witnesses for SB 2252 largely supported the bill. A Uplift Education representative described strong gains from small-group literacy tutoring and said students receiving targeted support can make more than a year of growth in a year. An education specialist explained that the bill aligns general education screening with existing dyslexia and special education practices and helps districts identify students who need intervention before a disability evaluation is required. A Commit Partnership witness cited statewide reading data, the importance of high-quality pre-K, and the need for transparent, consistent progress monitoring and parent engagement. Members asked about the meaning of the growth data, how dyslexia screening works, and how the bill would help identify struggling students earlier. Before finishing all questions, the committee recessed subject to the call of the chair after the floor session.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Ways and Means Jun 21st, 2026 at 11:00 am
Joint Committee on Ways and Means
Transcript Highlights:
- These operations include inspections, asset and construction management, environmental use cases, as
- These operations include inspections, asset and construction management, environmental use cases, as
- Our data analytics products include service mapping, ortho-mosaics, lidar point clouds, digital twins
- By establishing a single-stop digitized maintenance program and process in our maintenance car houses
- When complete, this system When complete, this new state-of-the-art digital signal system will mean a
Summary:
The Joint Committee on Ways and Means held a hearing at UMass Amherst on Governor Healey’s fiscal year 2027 budget, focusing on energy/environment-related transportation issues and the Massachusetts Department of Transportation. The chairs and members opened with thanks to UMass, university leadership, court officers, and legislative staff, and Chancellor Javier Reyes highlighted UMass Amherst’s research, workforce, sustainability, and transportation contributions, including energy research, transit operations, and partnerships with MassDOT. The hearing then moved to MassDOT and MBTA testimony on the administration’s transportation funding package, including House 2, the FY26 Fair Share supplemental, and a proposed four-year Chapter 90 authorization.
MassDOT officials described the budget as part of a broader multi-year transportation investment strategy, citing funding for operations, snow and ice removal, regional transit authorities, the MBTA, the Merit Rating Board, sustainable aviation fuel credits, micro-transit and last-mile grants, unpaved road improvements, bridge and pavement work, and housing-related transportation infrastructure. They emphasized workforce expansion, capital delivery capacity, safety improvements, and local aid, including the new lane-mile-based Chapter 90 formula intended to benefit rural communities. Officials also discussed major projects and programs such as Grant Central, culvert and unpaved road grants, work zone speed cameras, congestion hotspot fixes, the Sagamore and Bourne Bridge projects, and MBTA operating support and safety upgrades.
Testimony from the MBTA and rail/transit staff focused on improved ridership, service frequency, accessibility, and safety, including progress on the Green Line Train Protection System, reduced delays, expanded bus and commuter rail service, and the South Coast rail extension. Regional transit authorities reported increased ridership and described new fare-free, connectivity, and community transit grants. Aeronautics testimony covered airport capital work, drone and data programs, sustainable aviation fuel efforts, and workforce development in aviation maintenance. Committee members then asked questions, especially about Western Massachusetts priorities, Chapter 90 funding, bridge repairs, snow and ice costs, Cape Cod bridges, Buzzard’s Bay rail, and Compass Rail/West-East Rail. Officials said several federal rail grants were moving forward, that Sagamore Bridge procurement would begin soon, and that the administration remained committed to pursuing federal funding and multi-year transportation investments.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Transportation Jun 21st, 2026 at 11:00 am
Joint Committee on Transportation
Transcript Highlights:
- Alex Marthews, Digital Fourth. Digital Fourth— is there an Alex?
- Alex Marthews, Digital Fourth. Digital Fourth— is there an Alex?
- Alex Marthews, Digital Fourth. Digital Fourth— is there an Alex?
- Alex Marthews, Digital Fourth. Digital Fourth— is there an Alex?
- So we're going to go to the digital then, right? Yep. We've got one digital?
Summary:
The Joint Committee on Transportation held a hybrid hearing on 31 bills covering driver privacy and data, distinctive license plates, public awareness signage, railroad safety, superload permitting, TNC/delivery data reporting, and MBTA safety measures. Chairs Jim Arciero and Brendan Crighton outlined the hearing process, and the committee heard testimony from state officials, advocates, family members of fallen officers and firefighters, transportation industry representatives, civil liberties groups, and others. No votes were taken during the hearing itself, and the meeting ended with a motion to adjourn.
Several speakers supported bills creating a Blue Star Family license plate to honor families of fallen law enforcement officers, and a separate motorcycle plate for fallen firefighters. Colonel Jeffrey Noble and others from the Healey-Driscoll Administration and law enforcement groups said the plates would complement existing memorial practices and provide a lasting public tribute. Family members of officers killed in the line of duty gave emotional testimony in support, and Representative Steve Ultrino and Paul Jakes backed the firefighter memorial motorcycle plate as revenue-neutral, with proceeds supporting the fallen firefighter memorial.
The committee also heard testimony on transportation policy and safety bills. Industry witnesses urged modernization of Massachusetts superload permitting rules, saying current requirements are slower and more expensive than neighboring states and delay public projects. Advocates supported a human trafficking awareness bill requiring hotline signage in transit facilities, a driver privacy bill limiting automatic license plate reader data retention and sharing, and a bill requiring two-person crews on freight trains and other railroad safety measures such as hotbox detectors and transportation for railroad employees. Senator John Keenan also testified for expanded naloxone availability in MBTA stations and said the MBTA had not fully complied with prior legislative directives.
WY
Wyoming 2026 Regular Session
House Minerals, Business & Economic Development Committee, February 27, 2026
Minerals, Business & Economic Development
Transcript Highlights:
- And there are also organizations out there that are working in the digital asset space that would love
- <01:11:19.520>
love <01:11:19.679>to digital asset space that would love to digital - The treasurer's office can take in intangibles, which includes monies, not digital assets, and we're
- <01:21:14.560>
assets which includes monies not digital assets which includes monies not digital - assets and those things.
Keywords:
energy transmission, load growth, Wyoming energy authority, transmission planning study, public utilities, regional cooperation, energy, funding, grants, loans, coal, natural gas, mineral processing, economic development, stable token, liquidity, trust account, Wyoming, fund distribution, financial regulation
US
US Federal 2025-2026 Regular Session
US House Floor Proceedings (Wednesday, April 9, 2025)
US Federal House Floor Meeting
Transcript Highlights:
- of a market for general use digital of a market for general use digital consumer<00:29:05.679>
- <00:30:26.399>
payment use digital payment use digital payment applications.<00:30:28.480>- applications, peer-to-peer apps, digital applications, peer-to-peer apps, digital wallets,<00:30
- In fact, members on both sides consequences for digital commerce, one consequences for digital commerce
- business ventures with their own digital business ventures with their own digital payment<01:03:
- <00:30:26.399>
FL
Transcript Highlights:
- It requires oir to review and approve dividends in pledges of capitals or assets from property insured
- property insurers in will be required to notify the oir of at least 30 days prior to pledging capital or assets
- The printed transaction receipts is a huge piece because we are seeing scammers diverting digital receipts
- Suffice for moving that into a digital wallet.
TX
Texas 89th Regular
Delivery of Government Efficiency Apr 2nd, 2025
Delivery of Government Efficiency
Transcript Highlights:
- The rapid digitization of public services. digital identities to AI-driven portals has dramatically improved
- It's an investment in a secure, efficient, and trustworthy digital future for Texas.
- How many assets do we have? What software? We've spent a lot of money on software. Are we using it?
- We can improve security by eliminating unnecessary assets and reduce that. vulnerabilities, enhancing
- I also have a link to the digital version on my resource slide. As you can see from that.
Bills:
HB512, HB2248, HB2679, HB2832, HB3112, HB3368, HB3490, HB3512, HB3623, HB3666, HB3700, HB3711, HB3770, HB3963
Keywords:
grievance procedures, state agency, employee rights, workplace regulations, employment law, employees, employment actions, appeal, state employees, workplace rights, disciplinary actions, employment conditions, employment disputes, job protections, public information, transparency, government accountability, information access, notification requirements, federal funding
HI
Hawaii 2025 Regular Session
JHA Public Hearing - Tue Feb 25, 2025 @ 2:00 PM HST
Judiciary & Hawaiian Affairs
Transcript Highlights:
- House Bill 1277, House Draft 1, relating to digital financial assets.
- This measure imposes a daily maximum of $1,000 on transactions through a digital financial asset transaction
- House Bill 1277, House Draft 1, relating to digital financial asset.
- <02:14:55.320>
financial <02:14:55.960>asset one relating to digital financial asset - one relating to digital financial asset I<02:14:56.760>
recommend <02:14:57.159>we <02:
Summary:
The committee first heard House Bill 302, which would repeal the requirement that a provider-patient relationship for medical cannabis certification be established in person first. The Department of Health said it supported the House Draft 2 version as a way to expand patient access, and several testifiers from the medical cannabis community and dispensary industry supported the bill, especially for patients on outer islands or those unable to travel. One witness asked that earlier language removed in committee be restored to further improve access. Representative Shimizu asked whether follow-up in-person visits would still occur, and DOH responded that this varies by provider, with some continuing in-person care and others moving to telehealth for chronic conditions.
The committee then took up House Bill 712, relating to the federal 340B drug pricing program and contract pharmacies. The Office of Consumer Protection and the Attorney General’s office both said they supported the bill’s purpose but wanted it clarified and possibly moved into a standalone chapter rather than chapter 481B. Supporters, including Hawaii Pacific Health and the Queen’s Health Systems, said the bill is needed to protect safety-net funding and access to discounted drugs, citing large financial benefits from 340B and losses caused by manufacturer restrictions on contract pharmacies. PhRMA opposed the bill, arguing the issue is not access to discounts but accountability and transparency in how contract pharmacies distribute benefits, and said it was willing to discuss amendments. Members asked follow-up questions about whether there was data showing misuse; PhRMA said it did not have numbers, while hospital witnesses said the program is federally audited and used appropriately in Hawaii.
Finally, the committee heard House Bill 1482, HD1, which would tighten hemp and controlled-substance definitions to exclude Schedule I cannabinoids from manufactured hemp products and clarify the treatment of artificially derived cannabis. The Department of Health supported the measure, saying it adds clarity to existing prohibitions. Kūre Hawaii and other supporters said it would close loopholes involving Delta-8 and similar products. An individual testifier urged stronger language to also cover compounds such as HHC, THCA, THCP, and THCO. In response to questions about enforcement against mislabeled hemp products, DOH explained that THC percentages are relative to product weight, that some products can remain under the hemp threshold while still containing significant THC, and that hemp flower is already prohibited from direct retail sale, though enforcement can be complicated and involves both administrative and criminal authorities.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Advanced Information Technology, the Internet and Cybersecurity Jun 21st, 2026 at 01:00 pm
Joint Committee on Advanced Information Technology, the Internet and Cybersecurity
Transcript Highlights:
- I am the co-chair of Volunteer Civil Liberties Organization Digital Fourth.
- in the digital age.
- not the top asset.
- At Kairos, we like to bring digital issues into in-person reality.
- This is what our current digital landscape looks like.
Summary:
The committee hearing focused on a package of Massachusetts privacy and technology bills, especially measures to ban the sale of location data, establish a comprehensive consumer data privacy law, and regulate biometric recognition and surveillance pricing. Chairs and sponsors argued that self-regulation has failed, that data brokers and large tech companies routinely collect and monetize sensitive information, and that state action is needed because federal protections are weak or absent. Several speakers tied the bills to reproductive health, gender-affirming care, domestic violence, children’s data, and other sensitive uses of location and biometric information.
Supporters included legislators and advocates who backed H. 86/S. 197 (Location Shield), H. 78/S. 45/H. 104/S. 29 (comprehensive privacy bills), H. 99/S. 47 (surveillance pricing in grocery stores), and H. 36/S. 36 (biometric recognition accountability). They emphasized data minimization, bans on selling sensitive data, consumer rights to access, delete, and opt out, and in some cases a private right of action. Several witnesses said Massachusetts should lead or align with other states, while others argued that stronger protections are needed because data can be weaponized by stalkers, anti-abortion actors, abusive partners, insurers, or law enforcement.
Industry and coalition witnesses urged the committee to favor a more standardized, interoperable framework modeled on laws already adopted in other states, warning that novel definitions, data-minimization rules, and private rights of action could create compliance burdens, confusion, and costs for businesses, including small businesses. They argued that entity-level exemptions for sectors already covered by federal laws like HIPAA or GLBA promote consistency, and that Attorney General enforcement is preferable to private lawsuits. Committee members questioned witnesses on patchwork concerns, the scope of exemptions, and whether the proposed bills would harm or help consumers and small businesses. No votes or final actions were taken during the hearing; written testimony was noted as due later, and the committee continued taking testimony from multiple panels and virtual witnesses.
CA
Transcript Highlights:
- Effective January 1, 2026, the bill reinstates the Medi-Cal asset limit at $130,000 for an individual
- Proposition 98 General Fund to develop a career passport that provides individuals with a secure digital
- of the Motor Vehicle Account Fund condition, and reestablishing a fee needed to support the DMV's digital
- To support the DMV's digital experience platform project.
- The work to change the asset test to ensure that people are not kicked off Medi-Cal because they have
FL
Transcript Highlights:
- So that currently reaches 86% of Floridians via print or digital on the local news websites.
- would ask for your favorable support so that there is a variety of options, and we're moving into the digital
- Under the series LLC, owners can create an unlimited number of child series with separate assets, members
- It makes sure that we can track the movement of monies and other assets between series.
- record-keeping requirement, and if they fail to keep the record-keeping requirements and to track the assets
Summary:
The Judiciary Committee considered a long agenda of claims bills, housing and business measures, and court-administration legislation. It reported favorably several claims bills, including SB 20 for J.N., a minor, SB 14 for the estate of Pennial Janvier, SB 10 for Sidney Holmes, SB 8 for Marcus Button, SB 22 for Eric and Jennifer Miles, and SB 26 for Kristen and Leah McIntosh. Members also approved SB 520 on curators of estates, SB 386 on self-storage lien-sale notices, SB 362 on reusable tenant screening reports, SB 316 creating series LLCs in Florida, and SB 1650 and SB 1652 on vexatious litigants and related public-records issues. SB 248, expanding eligibility for private school and homeschool students to participate in FHSAA sports at public schools, also passed after amendment.
Most of the claims bills were described as settled cases with amounts above sovereign-immunity limits, and several senators spoke in support of compensating victims of catastrophic injury or wrongful conviction. SB 10 drew comments about the 34 years Sidney Holmes spent incarcerated after a wrongful conviction, and SB 8 prompted discussion about the long delay in resolving Marcus Button’s injuries from a 2006 school-bus crash. SB 26 was presented as an uncontested claim arising from a DACS employee’s fatal crash that severely injured two teenage girls, and the committee adopted an amendment placing funds for the minor claimant into trust.
The policy bills drew more substantive debate. SB 386 would let self-storage operators use websites instead of newspaper ads for lien-sale notices, with newspaper representatives opposing the change and storage-industry witnesses supporting modernization and lower costs. SB 362 would let renters reuse tenant screening reports for 30 days, with the sponsor saying it would reduce repeated application fees. SB 316 would authorize series LLCs while adding record-keeping protections, and SB 1650/1652 would broaden Florida’s vexatious-litigant rules and create a public-records exemption for certain stricken filings. SB 248 passed over concerns from private-school and public-education witnesses about instructional time, funding, and fairness in athletic participation. All measures were reported favorably, with recorded votes ranging from 7-2 on SB 248 to unanimous or near-unanimous support on the other bills.
KY
Kentucky 2025 Regular Session
Budget Review Subcommittee on Economic Development, Tourism, and Environmental Protection (11-5-25)
Transcript Highlights:
- <00:20:40.720>
marketing going to launch a digital marketing going to launch a digital marketing - They have unique assets and challenges.
- <00:47:53.040>
that uh assets and the lifestyle assets that uh assets and the lifestyle assets - So we unique assets and challenges.
- Um, people those livability assets.
Summary:
The subcommittee met with leaders of the First Frontier Appalachian Trail System for an update on trail development, economic impact, and funding needs. Speakers said the system has expanded from 18 to 21 counties over the past year, with interest from additional counties, about 450 miles of trails currently open, and a goal of surpassing 1,000 miles within two years. They described the project as primarily an economic development effort that is already drawing public and private investment, supporting lodging and campground businesses, and creating new enterprises such as guide services, repairs, and recovery services for ATVs.
The presentation highlighted permit sales, which began on a soft-launch basis earlier in the year and are now available both physically and online. Permits cost $25 per year for in-state residents and allow riding on First Frontier trails. Officials also discussed landowner agreements, saying the standard license agreement is modeled on Hatfield-McCoy, is favorable to landowners, and can be ended with 60 days’ notice. They said the agreements, along with patrols and cleanup efforts, help address trespassing and illegal dumping while encouraging property owners to participate.
Kentucky Department of Fish and Wildlife Captain Jason Sloan reported 638 hours of patrols under the memorandum of agreement since January 1 and said the partnership has focused on safety, enforcement of existing laws, emergency planning, and cleanup support. The group also cited partnerships with the National Forest, Onyx Off-Road, ARC, and Yamaha, and said a Jeep Jamboree in Lee County drew 237 registered participants, mostly from out of state. They said a GNCC race in Knox County is being pursued for spring. The authority requested $3.5 million for the next two-year budget cycle and said it needs additional staffing, including two full-time trail development coordinators and part-time office help, to keep up with growth. Members praised the project’s progress and its potential to boost tourism and regional economic development.
TX
Texas 89th Regular
Senate Committee on Water, Agriculture, and Rural Affairs Mar 10th, 2025
Water, Agriculture and Rural Affairs
Transcript Highlights:
- Texas Parks and Wildlife Department was authorized to implement a system of digital tagging.
- Wildlife Division Commission is expected to take action to expand digital tagging across all licensed
- Currently, the harvest data, location data collected from the digital tagging from down to the pinpoint
- If people feel that their data is not protected, they may stop using the digital tagging system or provide
- You mentioned you're basically Utilizing half of your asset at this point, right?
Keywords:
water rights, treaty compliance, Rio Grande, agriculture, drought, international water, Texas water supply, Texas Parks and Wildlife Department, TPWD, harvest reports, wildlife harvest data, public information act, open records, confidentiality, hunter privacy, angler data, game animals, game birds, fur-bearing animals, nongame animals
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Ways and Means Jun 21st, 2026 at 12:00 pm
Joint Committee on Ways and Means
Transcript Highlights:
- pleased to report the division continues to provide superior service, reuniting owners with lost assets
- just a tremendous pressure on health care spending, whether it's our commercial plans seeing double-digit
- growth here over a year, our public plans, our Medicaid plans seeing double-digit growth.
- growth here over a year, our public plans, our Medicaid plans seeing double-digit growth.
- are growing double digit, and the trend is also visible nationally.
Summary:
The Senate and House Ways and Means chairs opened the FY 2027 consensus revenue hearing by emphasizing the need for a balanced, fiscally responsible budget amid federal funding cuts, health care cost pressures, and uncertainty around the federal tax law changes referred to as OB3. They also noted the state’s current revenue performance is slightly above benchmark and paid tribute to the late Representative Anne Margaret Ferranti. Secretary of Administration and Finance Matthew Gorkowitz echoed the call for caution, saying Massachusetts has protected core services while building reserves and that the FY27 budget process begins with a careful revenue estimate.
Department of Revenue Commissioner Jeff Snyder, along with DOR staff, presented FY26 and FY27 tax forecasts and identified major drivers and risks: OB3’s negative impact on state revenue, surtax collections, labor market conditions, capital gains, and corporate/business excise taxes. DOR estimated OB3 would reduce FY26 revenue by about $664 million and FY27 by about $282 million, while surtax and capital gains were expected to remain strong in FY26 but soften in FY27. Members questioned the outlook for surtax, capital gains, and the potential fiscal effect of a ballot question reducing the income tax rate from 5% to 4%; DOR said that proposal could cost roughly $4.2 billion to $4.8 billion annually, with a smaller but still significant impact in FY27 because of phase-in timing.
Treasurer Deb Goldberg testified next on the stabilization fund, lottery, PRIM, unclaimed property, and the Alcoholic Beverages Control Commission. She reported the rainy day fund at about $8.1 billion, said the lottery was on track for $1.5 billion in FY26 net profit and projected $1.25 billion in FY27, and highlighted that iLottery is expected to launch in summer 2026 with revenue beginning in FY27 and dedicated to child care initiatives. She also described strong PRIM performance and record unclaimed property returns, while members asked about the child care use of iLottery revenue, multilingual outreach, and the economic impact of expanded liquor licensing.
Mass Taxpayers Foundation President Doug Howgate and Tufts’ Evan Horowitz then offered differing revenue outlooks and policy warnings. Howgate projected modest growth, cautioned against overusing reserves for ongoing obligations, and urged caution on federal tax conformity changes and health care spending pressures. Horowitz projected higher FY26 and FY27 revenues than other witnesses, warned that the surtax and capital gains make the tax system more volatile, and said a 4% income tax ballot question could reduce FY27 revenues by roughly $800 million to $1 billion. He also flagged the rent control ballot question as a potential risk to municipal finance and suggested the state consider giving a permanent home to the independent revenue model used by Alan Clayton-Matthews.