Transcript Highlights:

• There is a value calculated for each individual member.
• There is a value calculated for each individual member.
• comes down to, as I mentioned before, they literally an actuary puts every person’s data in and calculates
• So you can have an audit on one end that fully replicates that entire calculation, the entire valuation
• their personal individual we calculate their personal individual daily<00:49:28.400> wage<00:

Keywords: Meeting Start: 00:00:09 Attendance Roll Call: 00:01:42 Approval of Minutes: 00:03:23 Overview of Actuarial Audit Process: 00:03:47 Overview of Reemployment After Retirement Provisions: 00:25:26 Teachers’ Retirement System: 00:25:26 Kentucky Public Pensions Authority: 00:50:32 Adjournment: 01:02:55, 958, all

Summary: The meeting began with quorum, approval of the prior minutes, and an announcement that the June meeting had been canceled and replaced by this combined May/June meeting; the next official PPOB meeting was announced for July 21 at 2:30. Staff then gave an overview of the Public Pension Oversight Board’s required actuarial audit process, explaining that House Bill 238 requires a review every five years of the retirement systems’ actuarial assumptions and methods, funded by the systems themselves. The presentation distinguished this audit from a financial or forensic audit, described the three possible audit levels (full replication, limited/spot review, or basic review), and noted that the last audit in 2021 was a level one performed by Milleman Consulting at a cost of about $190,000. Members discussed timing for the next audit cycle, with a request to LRC likely needed in July or August to target the June 30, 2026 valuation, and several members expressed interest in another level one review. Questions also addressed whether prior audits found major issues; staff said the 2021 review was generally clean but recommended more consistency in reporting and assumptions across systems. The committee then welcomed new staff and interns, including Odet Guanzi of KPPPA and Team Kentucky intern Amamira Bowman. Bo Barnes of the Teachers Retirement System presented an overview of the statutory framework for reemployment after retirement under KRS 161.605. He explained that the law is intended to let retirees return to help with staffing needs, do so in an actuarially sound way through required contributions, and keep TRS compliant with federal tax rules for a qualified plan under section 401(a). Barnes described the required breaks in service and earnings limits for retirees returning part-time or full-time, including the three-month or 12-month break depending on the employer, the 6,900-day limit, and the daily wage threshold based on years of service. He also noted a lightly used critical shortage program that allows school districts to hire retirees without a wage cap, while still observing the break-in-service rules. Members asked questions about who decides the scope and level of the actuarial audit, how the audit would treat leave balances and other benefit-related items, and whether the prior level one audit identified substantial problems. Staff said the committee would request the audit, but LRC would handle contracting, and that the audit scope could include items like sick leave and annual leave costs if requested. On the reemployment topic, Barnes emphasized that the rules are designed to avoid pre-arranged retire-and-return arrangements that could jeopardize TRS’s tax-qualified status. No formal votes were taken beyond approving the minutes, and the meeting concluded with the presentations and discussion of these pension oversight issues.

Transcript Highlights:

• <00:37:29.440> We<00:37:29.760> calculate<00:37:30.240> our<00:37:30.480>
• We calculate our cost of doing business.
• We calculate our cost of doing<00:37:31.280> business<00:37:31.760> by<00:37:32.079>
• c> to<00:38:15.440> authenticate<00:38:16.320> that<00:38:17.359> the calculations
• to authenticate that the calculations to authenticate that the cost<00:38:17.920> of<00:38:18.160

Keywords: Meeting Start 00:00:00 Attendance Roll Call 00:00:30 Personnel Cabinet 00:03:25 Department of Veterans Affairs 00:12:40 Auditor of Public Accounts 00:22:39 State Treasurer 00:42:24, 958, all

Summary: The committee first heard from Personnel Cabinet officials on House Bill 6, which required the Kentucky Employees Health Plan to offer a qualified high-deductible health plan by the 2026 plan year. Officials said the plan was already added for 2025, described it as the lowest-premium option with higher deductibles, and explained that federal rules prevent first-dollar coverage except for limited preventive services. They said 264 members had selected the plan out of about 142,000, and noted it also allows health savings accounts. Members asked about the plan’s benefits, what “catastrophic” meant, the deductible amounts, and whether employees were aware of the option; the cabinet said it would continue to highlight the plan in communications and that the deductible is above $8,000 for individuals and above $16,000 for families. The committee then received an update from the Kentucky Department of Veterans Affairs on the Bowling Green veterans center. Officials said the current target is to move into the building on October 28, with first admissions about two months later, pending final fixes and certification steps for Medicare, Medicaid, and the VA. They explained that about $7 million in FY25 appropriations lapsed because of construction delays, staffing ramp-up was postponed to avoid unnecessary spending, and the unspent funds should be considered in the next budget request. Members praised the project and asked about annual operating costs; officials said the current operating budget is about $15 million, though they do not expect to spend all of it this year. The commissioner also announced the fifth annual state commanders conference in Lexington, focused on veterans issues and featuring state, federal, and advocacy leaders. State Auditor Allison Ball then outlined her office’s budget priorities. She said the office is primarily a billing agency that charges audited entities for its work, and warned that some agencies are now signaling they may refuse to pay for audits related to kinship care and the medical cannabis application process. She said the office plans to continue requesting outlier credits for unusually burdensome county audit fees, funding for the ombudsman office’s transition and expanded in-office operations, and revenue replacement for local government audits and possibly state audits and special examinations. Ball also said the office conducts about 500 audits, reviews, and examinations a year and wants to restore performance audits with seed funding, as well as add investigators to the ombudsman office to focus more on child abuse and neglect cases. Members discussed the value of performance audits, the possibility of raising certain board thresholds to account for inflation, and the need for additional capacity to handle more audits.

Transcript Highlights:

• Senate Bill 2520 by Bettencourt, relating to the calculation of the limitation on the total amount of
• Senate Bill 2532 by Middleton, relating to the calculation of the voter approval tax rate for certain
• Senate Bill 2532 by Middleton, relating to the calculation of the voter approval tax rate for certain
• of an unused increment rate and the use of that rate in calculating certain other ad valorem tax rates
• Senate Bill 2775 by Hinojosa of Nueces, relating to the calculation of certain ad valorem tax rates of

Summary: The Senate convened with a quorum, heard an invocation, and adopted the previous day’s journal. Members then adopted Senate Resolution 358 honoring the University of Texas Rio Grande Valley on its 10th anniversary, with remarks highlighting UTRGV’s growth, degree production, research expansion, medical school, and role in serving the Rio Grande Valley and South Texas. The chamber also recognized the doctor of the day and adopted additional resolutions, including one for Denton County Days at the Capitol and another recognizing Texas HBCU Day. The Senate gave extensive recognition to outgoing Texas A&M University System Chancellor John Sharp through Senate Resolution 368. Senators from both parties praised his long public career, leadership of the A&M System, support for regional universities, and bipartisan approach. The resolution was adopted after multiple members added their names. The chamber also heard from advocates with the Texas Streets Coalition, and received gubernatorial nominations for the State Board of Examiners of Professional Counselors and the Texas Commission on Fire Protection. On legislation, the Senate passed several major bills. Committee Substitute Senate Bill 27, relating to rights and support for public school educators, was debated and amended to address teacher vacancies, bilingual certification testing, paid leave options, classroom removals, and appeal rights, then passed unanimously. Senate Joint Resolution 12, proposing a constitutional amendment on parents’ right to direct a child’s education, advanced on a 22-9 vote. Committee Substitute Senate Bill 1741, aimed at preventing foreign influence and intellectual property theft at public institutions of higher education, passed unanimously. Committee Substitute Senate Bill 29, the business entities bill, also passed after debate over corporate governance and shareholder protections. Senate Bill 857, authorizing law enforcement to tow certain vehicles driven by unlicensed or uninsured drivers, passed despite some concern about towing abuses during disasters. The Senate also took up Committee Substitute Senate Bill 1536 on dementia and Alzheimer’s training for certain guardians, but the transcript ends as that bill is being laid out.

Transcript Highlights:

• So in 2023, uh, it was adjusted and the Roth IRA distributions were not part of the calculation for household
• property tax refund if you are applying for the PTR, uh, on the rental side, but it is part of the calculation
• <00:02:19.840> for not part of the calculation for not part of the calculation for household
• <00:02:32.239> of<00:02:32.440> household part of the calculation of household part
• of the calculation of household income<00:02:33.879> if<00:02:34.040> you're<00:02:34.680

Keywords: 1187, senate, all

Transcript Highlights:

• SB 10 by Betancourt relates to the calculation of the voter approval tax rate for certain taxing units
• Further, the Committee on Criminal Jurisprudence, HB No. 21 by Thompson, relating to the calculation.
• It's a political calculation. You are not free to be courageous and vote with your heart.
• They are... ...calculated erasures of political strength, and we see it for what it is.
• And the use of rates in calculating certain ad valorem taxes.

Bills: HB4, HB 4

Keywords: district composition, congressional election, Texas, legislature, voting districts, 997, house, all

Transcript Highlights:

• And so, my team went and we manually calculated all the top-line stuff for the major markets, the U.S
• we manually calculated all the top<00:50:36.080> line<00:50:36.240> stuff<00:50:36.680
• The amount of manual calculations we did to get out what we did was a lot.
• The amount of manual calculations<00:51:44.320> we<00:51:44.440> did<00:51:44.680> to
• we did to get out what we calculations we did to get out what we did<00:51:46.640> was<00:51:

Keywords: 910, house, all

Transcript Highlights:

• To walk you through the calculation.
• The way GILTI is calculated at the federal level is it casts a very wide net.
• How often are we financial calculations.
• Um, this kind of calculation.
• Um, this kind of calculation.

Keywords: 1183, house

Transcript Highlights:

• math aka my cell phone calculator math aka my cell phone calculator because<00:36:22.400> I
• So that is very much an actuarial calculation to make sure that companies are charging enough and aren
• So that is very much an actuarial calculation to make sure that companies are charging enough and aren
• Again, just quick math on my calculator: 5.84, 24 million people in Minnesota.
• into the cost of the premium calculation into the cost of the premium calculation that<01:12:13.520

Keywords: 1183, house

Transcript Highlights:

• Um, there are a number of factors that these calculations are sensitive to.
• Um there are a guideline 3 calculations.
• <00:10:45.200> I've calculations are sensitive to. I've calculations are sensitive to.
• <00:54:45.359> It's one and guideline two calculations.
• It's one and guideline two calculations.

Keywords: 1187, senate, all

Transcript Highlights:

• And I don't know if you're, um, is there a calculation, and how do you measure it? Is it in watts?
• And I don't know if you're, um, is there a calculation, and how do you measure it? Is it in watts?
• do you have one that's calculated do you have one that's calculated against<00:27:33.320> population
• How many acres are you calculating total agriculture? For that, would almost half not be used?
• <00:41:43.800> total acres are you calculating total acres are you calculating total Agriculture

Keywords: 912, senate, all

Transcript Highlights:

• Yeah, I'm not correct on that number, so let me have someone run the calculation.
• let me have someone run the calculation let me have someone run the calculation but<00:44:39.359
• That one, I think the return on investment there is not as easy to calculate, but I think, you know,
• That one, I think the return on investment there is not as easy to calculate, but I think, you know,
• That one, I think the return on investment there is not as easy to calculate, but I think, you know,

Keywords: 928, house, all

Summary: The House Finance Division Three work session on February 21, 2025 focused on the Division of Medicaid Services budget. The chair opened with procedural guidance, noting the division’s role is to make recommendations to the full Finance Committee, that the budget must be balanced, and that members should track possible amendments ahead of a March 26 target for House Bills 1 and 2. Members also discussed the importance of using official budget documents and online resources, and the chair said no motions would be taken at this session. A major early topic was concern over a five-point Medicaid policy document and the timing of House Bill 2. Representative Tarki objected that the document appeared to be an unofficial draft and argued that significant Medicaid policy changes should have been transmitted by February 15 under state law. He said the lack of an official, posted document raised transparency concerns because the changes could affect tens of thousands of residents. Committee leadership responded that the five-point document was a working document, that it would be posted online within minutes, and that House Bill 2 is often delayed while the Office of Legislative Services finalizes and formats the governor’s proposed trailer bill. DHHS Chief Financial Officer Nathan White and Medicaid Director Henry Litman then began the budget presentation. White said the committee would use the PowerPoint as the document of record, starting with the governor’s operating budget pages 885-893, and noted that Medicaid is the largest accounting area in the state budget. He said the governor’s budget reflects about $60 million in reductions within the Medicaid area, with Granite Advantage handled off-budget and another $10 million in reductions there, for roughly a $70 million difference overall. Members asked whether the comparison was being made against an efficiency budget or a prioritized-needs budget, and White said the department could look at it different ways. The presentation then outlined Medicaid’s role in New Hampshire: it provides health coverage, serves as the state’s direct interface with the federal Centers for Medicare & Medicaid Services, and helps finance related services such as long-term supports, school-based services, adult dental coverage, and re-entry programs for people leaving correctional settings. White also reviewed enrollment and program context, saying New Hampshire has about one in seven residents enrolled in Medicaid, making it the fourth smallest Medicaid program in the country by enrollment, and described recent efforts such as youth re-entry and the Medicaid unwind after the end of the federal continuous coverage period. He said the state had to process more than 238,000 redeterminations after the public health emergency and that the department tried to avoid unnecessary coverage loss during that transition.

Transcript Highlights:

• I just did the calculation. The average car is about $50,000.
• c><00:07:14.240> just<00:07:14.400> did<00:07:14.520> the<00:07:14.600> calculation
• I just did the calculation. point first. I just did the calculation.

Keywords: 918, senate, all

Summary: Legislators and reporters discussed the final contours of a Minnesota bonding and tax package centered on a $1.2 billion capital investment bill. Supporters said the bill would fund state and local infrastructure projects, maintain state assets, and include anti-fraud measures such as electronic verification for service providers and a 100% excess tax on fraud proceeds to prevent offenders from profiting. They also said the package would backfill road-and-bridge funding so the fee reduction would not reduce transportation dollars. A major point of emphasis was a temporary reduction in tab fees, described as a $254 million savings for taxpayers in 2027. Republicans said the reduction was a top priority and that it was secured through negotiations, though they acknowledged it is only a one-year reprieve unless changed in a future session. They estimated the average savings at about $145 on a $50,000 vehicle, with larger savings for households with multiple vehicles. They also noted that the first proposal had included both a depreciation change and a rate change, but only the rate cut remained in the final compromise. In response to questions, lawmakers said the tab fee cut was driven by constituent complaints and that they would try to extend it next year. They also discussed related transportation issues, including accelerating collection of an auto parts sales tax and concerns about greenhouse gas-related costs for roads and bridges. On other topics, one lawmaker said gun control proposals in the House were not part of these negotiations and urged continued movement on the broader package. No formal vote was taken in the exchange, but participants expressed confidence that the bonding portion of the deal was largely settled, while some details of the full package still needed to be finalized.

Transcript Highlights:

• AB 1751, Cork Silva, townhomes, do pass as amended to clarify the bill does not impact the calculation
• AB 1751, Cork Silva, townhomes, do pass as amended to clarify the bill does not impact the calculation
• AB 1761, Rogers, electricity calculations, do pass. That's out on an A roll call. Maybe AB 1866.
• AB 1793, Ward, cash payment calculation, do pass. That's out with Republicans not voting.

Keywords: 988, house, all

Summary: The Assembly Appropriations Committee held its May 14, 2026 suspense-file hearing and considered 637 Assembly bills, plus several committee bills and one Senate bill. The chair opened by explaining the committee’s budget constraints and the factors guiding decisions: fiscal impact, return on investment, avoiding added costs to constituents, and protecting the state’s social safety net. The agenda was organized alphabetically by author, and the committee noted that results would be posted later that day online. The committee then took action on a very large number of measures, with many bills receiving do pass or do pass as amended recommendations and many others held in committee. Topics covered a wide range of policy areas, including housing, health care, education, public safety, labor, environmental regulation, wildfire mitigation, water, transportation, cannabis, AI, and state governance. Several bills were amended to reduce costs, narrow scope, remove provisions, or make them contingent on appropriations or existing resources; some were advanced on A or B roll calls, while others were held. Among the notable actions, the committee advanced bills on Medi-Cal, CalFresh, child care, school and higher education programs, wildfire and fire safety, housing financing, and various criminal justice and public safety measures. It also moved forward a number of bills related to tribal issues, consumer protections, energy and utility policy, and environmental programs. At the end of the hearing, the chair stated that the committee had moved a large number of bills to the Assembly floor and adjourned.

Transcript Highlights:

• Dean's comments, looking at numbers on a sheet and calculating how many people we're caring for, you
• So I would like to know if you've calculated how much the increased administrative costs will be and
• Dean, for your response, have you calculated how much the increased administrative cost would be?
• So I'm wondering if that's been calculated. Thank you. Thank you, Representative Reier.

Transcript Highlights:

• compensatory revenue modification, this will extend stability for one year of compensatory revenue calculation
• one-time funding for this program, which will explicitly include the counting of meal forms in the calculation
• working group of statewide experts to look at the formula going forward. board about how to best be calculated
• won't be a direct hundred percent loss of those percentages, but it'll come back through on the calculation

Bills: HF2430, HF2433

Keywords: education finance, teacher training, Read Act, state aid, school funding, education funding, children with disabilities, transition aid, special education, school district consolidation

Transcript Highlights:

• is that number based off of meters connected to the to the supply how do you how does that number calculate
• A couple of questions, one's funding, another's workforce, and then I'm Wondering about calculations
• And I'm sure that calculation was based upon numbers at that time.
• These calculations, not apportionment, were based off of accounting for that, expected growth.

Keywords: 1184, house, all

Transcript Highlights:

• The law actually requires them to have an actuary calculate it, and they haven't been doing that.
• <00:30:08.600> their<00:30:08.760> contributions<00:30:09.600> they're calculate
• those are specifically actuar calculated those are specifically actuar calculated to<01:36:31.400
• So they calculate it, and you can see because we included a copy of it in the written testimony.
• Sir, I guess I never knew a lawyer who couldn't calculate 30% of an award.

Keywords: 1191, senate, all

Transcript Highlights:

• That is calculated as a rate that is sent to the USDA.
• That is calculated as a rate that is sent to the USDA.
• That is calculated as a rate that is sent to the USDA.
• That is calculated as a rate that is sent to the USDA.
• That is calculated as a rate that is sent to the USDA.

Keywords: 958, all

Summary: The committee first approved the minutes from its September 24 meeting after a motion and second. It then heard a presentation from New Mexico Early Childhood Education and Care Secretary Elizabeth Gragensky on that state’s early childhood system and planned universal child care rollout. She described how New Mexico consolidated multiple prenatal-to-age-five programs into a cabinet-level department, expanded pre-K to a longer day, and uses a cost model to set reimbursement rates intended to cover true provider costs, including wages, benefits, occupancy, food, and reserves. She also said the state created an Early Childhood Trust Fund and secured a constitutional amendment to dedicate 0.60% of the land grant permanent fund to early care and education, with the department’s budget growing from about $400 million in 2021 to just under $1 billion this year. Gragensky said families can begin applying for universal child care on November 1, with participation voluntary for both families and providers. She reported that New Mexico is aiming to expand capacity by adding 1,000 registered home providers, 120 group homes, and about 55 more centers, supported in part by a $13 million low-interest loan fund and a request for an additional $20 million. She said the state has seen growth in early childhood professionals, including a 64% increase over the last three to four years, and pointed to reported outcomes such as a 21% increase in literacy and a 75% kindergarten readiness rate, while noting that some measures are new and baseline comparisons are still being developed. Members asked about the funding sources, provider profitability, workforce development, and measurable outcomes. Gragensky said the program is designed to support provider sustainability through rates tied to true cost and includes allowances for sick leave, vacation, benefits, and reserves. She also said maternal labor force participation is 10% higher than the national rate and attributed that in part to child care access. The committee then moved to a separate presentation by Department for Community Based Services Commissioner Lisa Dennis and Division of Family Support Director Roger McCann on anticipated cuts to TANF and SNAP, beginning with an overview of TANF as a federal block grant with a fixed annual Kentucky allocation of about $180.7 million.

Transcript Highlights:

• They have to calculate or guesstimate what they think the storms and the damage are going to be from
• It prohibits the inclusion of loss adjustment expenses in the PML calculation, removes county-specific
• Because this bill is designed to reduce the probable maximum loss calculation, which reduces the amount

Bills: SB1642, SB1643, SB2530

Keywords: Texas Department of Insurance, commission appointments, insurance regulation, oversight, consumer advocacy, insurance rates, property insurance, commercial automobile insurance, rate approval, consumer protection, windstorm insurance, Texas Windstorm Insurance Association, administrative penalties, coastal counties, 1184, house, all

Transcript Highlights:

• BUT CORPORATE IS NOT CALCULATING THAT. >> AND THIS CALCULATION NOW WE ARE NOT.
• THAT'S OF THE NUMBERS ARE CALCULATED RIGHT?

Keywords: 999, senate, all