Transcript Highlights:

• operating out of their office, which is why the bill language is designed to allow DPS to select an intermediary
• operating out of their office, which is why the bill language is designed to allow DPS to select an intermediary

Committee: Senate Transportation

Transcript Highlights:

• In any loan, we are usually only 10 to 20% of the total loan.
• </c> we did not have a loan uh set loan pool we did not have a loan uh set loan pool set<00:43:15.599
• It's not that every loan is going to have grant capital in their loan.
• , but how those loans fit into our overall loan portfolio.
• </c> do those loans fit into our overall loan do those loans fit into our overall loan portfolio<00:59

Committee: Senate Energy, Utilities, Environment, and Climate

Transcript Highlights:

• Those were the loan terms— incredibly generous loan terms.
• loans in that 2.0.
• those loans.
• It's the Energy Efficiency Revolving Loan Fund. Efficiency Revolving Loan Fund.
• We're going to them to get those loans; they do loans, boom, boom, boom.

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• These exorbitant loans are made in Idaho by title loan and payday loan entities.
• Lobbyists came in, and they gave a carve-out for what we now have: the title loans and payday loans.
• I have to pay all these loans. And he was doing payday loans as a regular part of his life.
• Chairman, therefore, if the poor receive loans at a just rate of interest, the loan is not usurious.
• Well, I took out this payday loan or this title loan and now I'm making payments and I can't even get

Committee: House Business

Transcript Highlights:

• of the grad plus loans, the primary that are now put on those loans, as well as the elimination of the
• loan was approximately $18,500.
• But if we account for the new loan limits and the sunsetting of the Grad PLUS loan program, that's the
• I think we do provide loans in other ways to things in the state, whether it's small business loans for
• sure, infrastructure loans.

Summary: The subcommittee on Education Finance heard an overview of the governor’s budget proposals and higher education financial aid trends, with a major focus on the Middle Class Scholarship (MCS), Cal Grant spending, and the effects of recent federal student aid changes. The Department of Finance said the budget would fully fund Cal Grant at projected levels and reduce MCS coverage from 35% to 17.5% of unmet need in 2026-27, while the Legislative Analyst’s Office supported considering the reduction as a cost-saving measure given out-year deficits. UC and CSU representatives opposed the cut, saying MCS is important to affordability and debt-free degree goals; they estimated average awards would fall substantially and that campuses do not have funds to backfill the loss. The Student Aid Commission said the proposal would reduce aid but simplify administration, and members questioned how lower awards would affect students, borrowing, and work-study options. No vote was taken, and the issue was held open for possible future action. The committee then discussed federal changes to student loans and Pell Grant policy under H.R. 1, including caps on Parent PLUS loans, elimination of Grad PLUS loans, and new proration rules for federal direct loans based on enrollment intensity. The LAO said these changes would likely push some borrowers into the private market, especially graduate and professional students and some parents of students at private institutions. CSU said the changes would affect thousands of graduate and part-time students and could reduce access by about $97 million in loan availability for part-time borrowers, while UC said the new definitions of professional degrees were too restrictive and would reduce access for nursing, teaching, law, dentistry, and other programs. Community colleges said they use relatively little federal loan aid but are monitoring Workforce Pell. Members raised concerns about workforce impacts, social mobility, and whether the state should consider alternative loan programs or other ways to reduce student costs. This issue was also held open. In the segment financial aid update, the LAO reported Cal Grant spending is projected to rise to about $3.2 billion in 2026-27, driven by more recipients and higher awards tied to UC and CSU tuition increases, while CSAC said FAFSA and CADAA applications are up significantly year over year. CSU, community colleges, and UC described their aid packaging and rising aid totals, with CSU reporting over $5.5 billion in aid to 381,000 students, community colleges reporting over $4.3 billion to more than 920,000 students, and UC reporting $3.17 billion in grant aid to undergraduates. Members asked about Cal Grant reform, application trends, and long-term outcomes; UC and community colleges pointed to alumni and wage dashboards, and the LAO noted the state’s Cradle to Career data effort. The committee then took public comment, including testimony on library funding and other education-related priorities, and concluded by holding the issues open without formal action.

Transcript Highlights:

• You can take out a payday loan or an online payday loan. You could incur a late fee.
• The agency analysis says clearly these products are loans under the Small Loans Act.
• Loans are still very much covered under the Small Loans Act. Thank you.
• New Mexico's law agrees it's a loan. These are loans.
• it comply with the Loan Act.

Committee: House House Commerce & Economic Development Committee

Transcript Highlights:

• of the grad plus loans, the primary that are now put on those loans, as well as the elimination of the
• loan was approximately $18,500.
• Private loan market.
• takes out federal student loans, between both the direct and, sorry, subsidized and unsubsidized loans
• sure, infrastructure loans.

Transcript Highlights:

• Moving on to item number 12, SB 1244 by Allen, regarding the Public Agency Benefits Intermediary Compensation

Summary: The Assembly Health Committee heard several measures, beginning with SB 331 by Sen. Menjivar, which would require large-group health plans to cover hearing aids for children. The author and supporters described the bill as a long-running effort to address a developmental emergency and reduce out-of-pocket costs for families, while opponents were absent. Testimony from parents, advocates, medical experts, and organizations emphasized the importance of early access to hearing aids; committee members voiced strong support, and the bill was moved on a do-pass basis to Appropriations, with several members requesting to be added as coauthors. The committee then heard SB 608, also by Sen. Menjivar, to expand access to condoms in school-based health centers and related settings and to prevent barriers such as ID checks. Supporters, including students and school health advocates, argued the bill would improve sexual health and reduce stigma, while opponents from family and faith groups argued it would undermine parental authority and normalize early sexual activity. The bill was supported by committee members and moved forward on a do-pass basis to Appropriations. Next, SB 971 by Sen. Choi proposed community-based healthy aging partnerships for older adults, with testimony from the California Senior Legislature and supporters from aging and dementia organizations. The measure was described as voluntary and focused on connection, independence, and local collaboration; there was no opposition, and the committee moved it on a do-pass basis to Appropriations. The committee also heard SB 869 by Sen. Weber Pierson, which would require warning icons and statements on chain restaurant menus for beverages with very high added sugar content. Supporters framed it as a transparency and public health measure, while restaurant and beverage industry representatives opposed it unless amended, citing cost and menu-space concerns; the bill was nevertheless moved on a do-pass basis to Appropriations after a roll call vote, with some members voting no and the measure placed on call. The committee also considered SB 950 by Sen. Weber Pierson, aimed at ensuring timely coverage of FDA-approved, medically necessary treatments for early-onset Alzheimer’s disease on commercial plans. Supporters, including the Alzheimer’s Association and a patient advocate, said the bill would reduce delays and barriers to care, while health plan representatives opposed it over step therapy and utilization-management concerns. Members discussed the limited treatment window and the need for early access, and the bill was moved on a do-pass basis to Appropriations. In addition, SB 490 by Sen. Umberg would set timelines for DHCS investigations of unlicensed sober living homes and allow counties to assist if the department cannot act in time; supporters from Anaheim and a patient-brokering survivor described serious abuse and oversight gaps, while county behavioral health representatives opposed the county role as an unfunded and potentially liability-creating burden. After discussion, the bill was also moved on a do-pass basis to Appropriations. Finally, the committee began hearing SB 1037 by Sen. Weber Pierson on health insurance affordability and rate review, with supporters arguing it would tie premium increases more closely to affordability targets and public reporting; the transcript cuts off before the committee completed action on that measure.

Transcript Highlights:

• Moving on to item number 12, SB 1244 by Allen, regarding the Public Agency Benefits Intermediary Compensation

Committee: House Health

Transcript Highlights:

• Administrative intermediaries point the finger at someone.

Committees: House Government , House House Government Committee of Reference

Transcript Highlights:

• without any agency relationship, or a party to a real estate transaction who has established no intermediary

Bills: HB0108 , HB0039 , HB0091 , HB0070

Committee: Senate Judiciary

Transcript Highlights:

• $2,000 loan. $3, $5 million loan, and who doesn't access the bond market very frequently, it's like
• There's a much bigger market for those kinds of loans than there is for a half a million dollar loan.
• Obviously, with that, we've had more capacity to make disadvantaged loans, direct loans, and grow the
• was reimbursed for seven loans.
• We're not, it's not a loan.

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• On the next page, it increases the loan preparation fees for loans $50 or more.
• So fewer loans are redeemed in the third month. The typical loan ranges from $100 to $200.
• A pawn loan is a short-term, non-recourse, collateral-based loan.
• The majority of our loans are $200 or below. And those larger loans have a larger risk.
• And having a 60-day loan period does things like faster loan resolution.

Bills: HB1269 , HB2624

Committee: Senate Business, Trade & Economic Development

Keywords: pawnbroker, fees, interest rates, consumer protection, financial regulation, real estate transactions, nonprofit, land conservancies, unsolicited offers, property rights

Transcript Highlights:

• And that was on a bridge loan.
• And that was on a bridge loan.
• And that was on a bridge loan.
• And that was on a bridge loan.
• </c> &gt;&gt; Oh and it is a revolving loan fund. &gt;&gt; Oh and it is a revolving loan fund.

Transcript Highlights:

• loan financing.
• So think loans, participation loans, all that money moving on a daily basis.
• loans.
• loans.
• On the lift loans, those are intended to be a five-year loan.

Summary: The committee received a compliance and budget update on Industrial Commission agencies and programs, including the Industrial Commission administrative office, the Oil and Gas Research Program, the Clean Sustainable Energy Authority, the State Energy Research Center, the Research Technology Park grant program, and related funds. Staff reviewed spending and balances for items such as electric grid resiliency grants, lignite research, enhanced oil recovery, the salt cavern business case study, and the new NDSU research and technology park grant. Members also discussed timing, carryover balances, matching requirements, and how some programs are structured to reimburse projects over several years rather than spend funds immediately. Karen Tyler of the Industrial Commission described the agency’s administrative budget, the grant management system nearing completion, and the transition to standalone audits and staffing after separating from other agencies. She also outlined the status of active grant rounds across lignite, oil and gas, renewable energy, outdoor heritage, and clean sustainable energy programs. Members asked about the length of active grants, demand for clean energy funding, and the possibility of future grant rounds. Tyler and members also discussed the salt cavern study, the need to better define its commercial value, and the research technology park grant’s cash-match requirement. Ron Ness then testified on enhanced oil recovery and broader oil and gas market conditions. He said North Dakota production remained steady, but future growth depends on infrastructure, longer laterals, and better use of natural gas and carbon dioxide for EOR. He described the state’s EOR grant round, the use of federal DOE funding to replace part of a state-funded project, and the expectation of additional grant rounds. Members asked about CO2 supply, storage, and the economics of using legacy fields and pipelines to extend oil production and support agriculture and industrial uses. The committee also heard from Bank of North Dakota President Don Morgan, who reviewed the bank’s mission, governance, lending verticals, disaster programs, and new initiatives. He said the bank is seeing deposit growth flatten and is responding to fintech competition by focusing on liquidity, risk management, and a new payment infrastructure initiative called Rough Rider Coin, which he emphasized is not crypto and not a public coin, but a banking payment rail for North Dakota institutions. Members asked about student loan rates, disaster lending, and how the bank’s lines of credit and balance sheet capacity are affected by deposit trends. Morgan said the bank remains profitable and continues to support agriculture, commerce, and industry through participation loans, student lending, and state-directed programs.

Transcript Highlights:

• This will be a 30-year loan with a 1% interest rate, and this loan was approved at the February 6 KIA
• board meeting. does have six loans and one grant for does have six loans and one grant for the<00:13
• with a 1% interest rate and this loan with a 1% interest rate and this loan<00:14:33.199><c> was</c>
• 43.519><c> at</c><00:15:43.639><c> the</c> 0.5% and this loan was approved at the 0.5% and this loan
• </c><00:15:50.920><c> in</c> the city of scotsville fund a loan in the city of scotsville fund a loan

Summary: The committee first handled informational reports on several bond and lease matters, including school district and board of education debt-service items, upcoming revenue bond issues in Henderson and Jessamine counties, and three advertised lease-space requests for state agencies. Members also reviewed prior lease transactions that had not been approved in November and December; the Finance and Administration Cabinet later canceled and rebid the Harlan County lease and moved ahead with the Perry County lease modification. Additional information items included a Kentucky Communications Network Authority quarterly capital projects report and Eastern Kentucky University asset preservation revisions. The committee then heard from Deputy State Budget Director Janice Thomas on four action items. She reported a $2.85 million USDA-funded renovation at Kentucky State University’s Betty White Building, a $294,000 increase for the Kentucky School for the Deaf’s Middleton Hall renovation, and a $6.1 million restricted-funds scope increase for the KCTCS Science Building Expansion in Elizabethtown. Members asked about how often the statutory 15% increase authority is used for school dormitory and cottage projects and about the competitiveness of construction bids; Thomas said bids are typically competitive but recent estimates have been difficult because of higher material and equipment costs. The committee approved the three action items unanimously and also received a no-action report on a $3.918 million Corrections project to repair and replace the KCIW kitchen drain line. Next, the Kentucky Infrastructure Authority presented seven loans and grants, all of which the committee approved unanimously. The package included sewer and water projects for Frankfort, Sturgis, Scottsville, Morganfield, Western Pulaski County Water District, and Springfield, plus an emergency $5.487 million Kentucky Waters grant for Eddyville after a catastrophic sewer plant failure and weather-related emergency declarations. The projects covered wastewater interceptor and treatment upgrades, sewer collection rehabilitation, water transmission main installation, and planning/design work, with loan terms ranging from five to 30 years and interest rates from 0.5% to 2.25%. Finally, the committee considered a $38.4 million Kentucky Housing Corporation conduit issuance for a 322-unit multifamily rental project in Jefferson County. A member asked how the committee participates in the transaction, and staff explained that it is a conduit issuance and not state debt. The committee then moved to approve the issuance.

Transcript Highlights:

• The Wyoming Food Coalition can act as an intermediary here, and we're doing this work for free for anonymous
• 25:05.440><c> an</c> Wyoming Food Coalition can act as an Wyoming Food Coalition can act as an intermediary
• 06.680><c> and</c><02:25:06.840><c> we're</c><02:25:06.960><c> doing</c><02:25:07.240><c> this</c> intermediary
• here, and we're doing this intermediary here, and we're doing this work<02:25:07.680><c> for</c><02:

Committee: Joint Agriculture, State and Public Lands & Water Resources

Transcript Highlights:

• She was so grateful that now there was an intermediary step between being an RN, which she had been,

Transcript Highlights:

• On the next page, it increases the loan preparation fees for loans $50 or more.
• And a pawn loan is a short-term, non-recourse, collateral-based loan.
• If I may, the majority of our loans are $200 or below. I mean, the average loan price.
• The majority of our loans are $200 or below. And those larger loans have a larger risk.
• And having a 60-day loan period does things like faster loan resolution.

Summary: The Senate Business, Trade, and Economic Development Committee heard public testimony on several House bills. HB 2624 would expand an existing exemption in the solicited real estate transaction law to allow public entities to solicit and buy real property for any public purpose, and also for Indian tribes and nonprofit nature conservancy organizations; the sponsor said the bill is meant to fix an omission from last year’s law, while a forest landowners group opposed it as creating a loophole for low-ball offers to vulnerable owners, and Trust for Public Land supported it as a different kind of transaction with existing appraisal and public-process protections. HB 2334 would create a cash-transaction rounding system to address the end of penny minting; staff said rounding would apply after tax and be permissive for sellers, with immunity and preemption provisions, and retailers and grocery groups supported it as a practical solution to penny scarcity, while members asked about signage and mixed-tender transactions. The committee also heard HB 1269, which would shorten pawn loan terms from 90 to 60 days, raise interest and fee caps, increase storage fees, and allow online payments for extensions. Pawn industry witnesses and the sponsor said the changes are modest, overdue, and needed to reflect inflation and operating costs while serving unbanked customers; some senators questioned whether the combined changes would more than double costs for borrowers, and industry witnesses said they were willing to work on the numbers. HB 2428 would require insurers to send advance lapse notices for individual life insurance policies to policyholders and a designated third party, with proof of delivery, to prevent unintended lapses; the sponsor, the Insurance Commissioner’s office, life insurers, AARP, and a business group all supported the consumer protection goal, though insurers noted added compliance costs and the bill’s delayed effective date for new policies. Finally, the committee heard HB 1078 on pet insurance, which would bar cancellation or nonrenewal based on a pet’s age or conditions that develop during the policy term and would restrict certain affiliate-policy transfers; the Insurance Commissioner’s office strongly supported it as a consumer protection measure, and staff noted a fiscal impact estimate and a new fiscal note request. The committee also took testimony on HB 2624 from both supporters and opponents, and on HB 2334 and HB 1269 from industry and public witnesses, but no votes were taken in the meeting. The chair closed public testimony and adjourned the committee after hearing all scheduled bills.

Transcript Highlights:

• Loan debt information, and then that particular payment goes directly to their loan provider, not to
• It's a loan repayment for service going directly to the student loan provider.
• the loans need to be repaid.
• So this loan repayment, I'm saying current, so anybody that owes—I mean, does it matter how old the loan
• And Madam Chair, we know the turnaround to pay these loans. The loan amount.

Summary: The committee first took up Senate Bill 20, a prior-authorization and step-therapy measure, on a committee substitute that had already incorporated many stakeholder changes. The sponsor and agency witnesses described revisions to definitions of chronic health condition and serious mental illness, shorter prior-authorization periods, and limits on reporting requirements. Supporters, including a nurse practitioner and disability advocates, said the bill would reduce barriers to needed medications and urged broader protections for chronic and behavioral health conditions. Health insurance and pharmacy benefit management representatives remained opposed, arguing prior authorization is an important patient-safety tool and objecting to the bill’s limits on its use. Senator Hickey offered two amendments: one to conform electronic prior-authorization response times to existing law by changing seven days to three, and one to restore the prior-authorization period from 12 months to three years. The first amendment was accepted; the second passed on a 5-4 vote. The committee then approved the amended substitute 6-3. The committee next heard Senate Bill 111, which would expand the confidentiality of personal information held by the Motor Vehicle Division to include sex, gender identity, national origin, and immigration status. Tax and Revenue officials explained that the bill would not change what documents MVD collects, but would limit disclosure of sensitive information contained in scanned records unless a statutory exception applies. Members asked about what appears on licenses, what is stored in MVD’s system, and whether law enforcement access would change; officials said criminal law enforcement exceptions would remain in place and that the bill mainly affects public disclosure requests. The committee voted 8-1 to give the bill a do-pass recommendation. Senate Bill 218, funding a Los Alamos Emergency Operations Center, was presented as a regional disaster-response and training facility for northern New Mexico. Los Alamos County witnesses said the project would support emergency management training and coordination across the region and requested $5 million. Several senators questioned whether the county had explored bonding, intergovernmental agreements, or regional cost-sharing, and raised concerns about Los Alamos’s debt capacity and whether the project was truly regional. Supporters said the county has a long capital backlog and that the center would serve communities from Santa Fe north. The committee ultimately voted 9-1 to advance the bill. Finally, the committee heard Senate Bill 14, a major health professional loan-repayment proposal. Senator Hickey described it as an effort to recruit and retain physicians, nurses, and other allied health professionals by increasing repayment amounts, prioritizing physicians and doctors of osteopathic medicine for 50% of the fund, and allowing service commitments with some flexibility, including part-time work. Supporters from medical, nursing, and behavioral health groups said the bill would help address workforce shortages and make New Mexico more competitive. Committee members asked about the inclusion of physician assistants, the 90-day start requirement, anti-donation concerns, tax treatment, tribal and IHS providers, and whether the 50% physician set-aside would leave enough for other professions. After discussion, the committee voted 10-0 to send the bill forward with a do-pass recommendation.