Transcript Highlights:

• We make loans from that, and then after the loans are made, we package them up and reimburse them in
• We've loaned, as I said, we have about $1.8 billion in loans outstanding for about 1,200 borrowers, but
• So we do loan grants.
• It allows us to work with banks, credit unions, and savings and loans to provide internal loan loss reserves
• We've made loans over $280,000 to over $280 million in loans from our Housing Opportunity Fund.

Committee: House House Rural Development, Land Grants And Cultural Affairs

Transcript Highlights:

• Parent PLUS Loan Program.
• And then finally, on graduate student loans, Congress eliminated the Graduate PLUS Loan Program for new
• borrowers and changed annual and aggregate loan limits in the federal Direct Loan Program, depending
• Applying a 50% proration average to these loans means a loss of $97 million in loan borrowing annually
• Applying a 50% per ration average to these loans means a loss of $97 million in loan borrowing annually

Summary: The Senate Budget Subcommittee on Education heard updates on higher education issues, beginning with California State University’s turnaround plans for seven campuses with enrollment declines. CSU said overall enrollment is growing systemwide, but some campuses, especially in Northern California, face structural declines tied to demographics and community college pipelines. The plans focus on reengaging stopped-out and adult learners, expanding partnerships and guaranteed admissions, improving retention and student support, and reducing costs through program suspensions, hiring freezes, shared services, and procurement consolidation. The Legislative Analyst’s Office said the strategies were reasonable but urged regular legislative updates, and the Department of Finance had no additional comments. Committee members emphasized the need for implementation oversight, written updates, and attention to student outreach, financial aid, and privacy concerns around AI tools used in recruitment. The committee then reviewed the Bureau for Private Postsecondary Education’s request for a $10 million General Fund appropriation to repay litigation-related borrowing. Department of Consumer Affairs and bureau staff said the bureau has a long-standing structural deficit, has already cut positions and shifted some costs, and that the General Fund backfill would reduce future fee increases on institutions. The LAO opposed the request, arguing the bureau can cover near-term costs with its existing loan and that litigation costs should remain the responsibility of the regulated entities through fees. Finance supported the one-time backfill as a unique situation that would lower fee increases and avoid passing litigation costs on to schools and students. Members asked about preventing a repeat of the problem, and bureau staff said they are pursuing fee increases through the sunset review and have strengthened internal policies and disability accommodation practices. The subcommittee also heard a broad update on Cal Grant funding and student aid. The California Student Aid Commission, UC, CSU, and the community colleges described Cal Grant as essential to affordability, but the LAO noted spending has grown faster than historical averages and said the state likely lacks capacity for major expansion in the near term. The segments highlighted the importance of state aid in covering tuition and living costs, and raised concerns about federal changes to student loans and Pell Grants, especially the elimination of Grad PLUS for some graduate students and limits on part-time borrowing. Committee members pressed for data on students who are eligible but not served by current Cal Grant rules, including adult learners and students affected by age and merit restrictions, and asked for analysis of phased-in implementation of the Cal Grant Equity Framework. Finance said full implementation would cost hundreds of millions of dollars and that affordability remains part of the state’s multi-year compact with the segments. Finally, the committee began discussion of the Middle Class Scholarship Program. CSAC and the UC and CSU said the program is a key part of affordability and debt reduction, especially after the 2022 reforms that expanded awards to total cost of attendance and improved administration. They warned that cutting funding by more than half would reduce award coverage from 35% to 17.5% of cost of attendance and could affect enrollment and persistence, particularly for middle-income students who do not qualify for other need-based aid. The segments also noted that recent administrative changes have reduced award revisions and campus workload, but that data exchange and award volatility remain challenges.

Transcript Highlights:

• and the nurse loans?
• Payments on their loan.
• And how does that impact future loans? So it does mean that we're not getting the loans repaid.
• Nine of them received loans.
• Nine of them received loans.

Summary: The Assembly Budget Subcommittee on Health heard updates on five health-related budget items. First, members reviewed state support for distressed hospitals and health facilities. The California Health Facilities Financing Authority and HCAI described the Distressed Hospital Loan Program as a lifeline for 16 hospitals, many of which remain financially strained and are expected to seek loan forgiveness rather than repayment. Speakers cited reduced contract labor, new service lines, strategic partnerships, and the reopening of Madera Hospital as signs of progress, but also warned that federal policy changes under H.R. 1 will likely increase uncompensated care and pressure emergency departments. Public commenters from hospital, dental, and consumer groups supported additional funding, including a request to refresh the program with another $300 million. The committee then heard HCAI’s update on the California Rural Health Transformation Program, a five-year federal initiative funded at $233.6 million for California. HCAI said the program will focus on rural care models, workforce development, and health technology, with grants to be rolled out on a fast timeline and all funds obligated by October 30, 2026. Members raised concerns about rural provider capacity to apply for grants, and HCAI said it will use a third-party administrator, a technical assistance center, webinars, and other supports to help applicants. HCAI also presented its budget request for the health care payments database, seeking ongoing non-General Fund support to continue operations and expand data, including pharmacy benefit manager data. The Emergency Medical Services Authority presented three budget change proposals: funding to replace disaster medical services fleet vehicles, funding for IT security work, and additional positions for HR, enforcement, and legal workload. A member also raised concern that EMSA has not yet completed the annual ambulance rate reporting required by AB 716, and EMSA said it remains committed to the requirement but lost prior funding through later budget reductions. Covered California reported that it is still finalizing its own budget, but expects a lower operating budget due to efforts to reduce baseline costs and align spending with actual expenditures; it also projected enrollment declines tied to the expiration of enhanced premium tax credits, H.R. 1, and federal rule changes, while noting that revenues may still rise because premiums are expected to increase. Finally, the Department of Managed Health Care outlined budget proposals tied to menopause coverage and education, PBM licensure and enforcement under AB 116 and SB 41, credentialing reforms under AB 1041, and prior authorization reporting under SB 306. Public testimony generally supported the menopause and PBM proposals, while also urging clearer language and attention to Medi-Cal parity. The hearing concluded after public comment, including additional advocacy for sickle cell services and rural health workforce funding.

Transcript Highlights:

• to do loans the initiative foundations to do loans and<00:03:42.959><c> grants</c><00:03:43.799><c>
• </c><00:54:23.599><c> down</c><00:54:23.880><c> to</c> loan that would get that loan down to loan that
• He said that so far they have made a total of $386,000 in loans through five different loans.
• </c> loans come in we vet each loan loans come in we vet each loan thoroughly<01:08:44.279><c> to</c>
• the loan side of things.

Committee: Senate Jobs and Economic Development

Transcript Highlights:

• Thank you. loans totaling $65 million.
• The proceeds from selling those loans are recycled into new loans.
• The proceeds from selling those loans are recycled into new loans.
• borrowers into higher-cost loans.
• qualifying borrowers into higher cost loans.

Summary: The Assembly Banking and Finance Committee met to hear several bills, beginning with a consent calendar that included AB 665 and AB 866, both adopted on a do pass basis and referred to Appropriations. The committee then took up AB 801, which would create a California Community Reinvestment Act to require covered financial institutions, including state-chartered banks, credit unions, residential mortgage lenders, and money transmitters, to meet the financial needs of low- and moderate-income communities and communities of color. The author and supporters argued the bill would close gaps left by the federal CRA, address redlining and discriminatory lending, and expand investment in housing, small business, and community development. Support came from community groups, CDFIs, labor, and housing advocates, while opposition from mortgage bankers and credit unions argued the bill would impose costly new reporting and regulatory burdens, especially on institutions they said already serve underserved borrowers well. Committee members discussed the scope of the bill, the experience of other states with state CRA laws, and possible carve-outs or tiered treatment for smaller credit unions. AB 801 was passed as amended and referred to Appropriations, with the roll left open and later completed; one member voted no and others were not voting or voted aye as the roll was finalized. The committee also heard AB 743, which would require licensing and surety bonds for commercial lawsuit financing and bring those transactions under DFPI oversight. The author said the bill was aimed at a largely unregulated, multi-billion-dollar industry and was intended to increase transparency and address concerns about foreign interests, fraud, and abusive litigation funding practices, while not affecting consumer legal funding. Supporters, including Unified Patents, the Civil Justice Association of California, the California Chamber of Commerce, the California Trucking Association, and the American Property Casualty Insurance Association, said the bill was an important first step toward disclosure and regulation. There was no opposition testimony. AB 743 passed unanimously as amended and was referred to Appropriations, with the roll held open briefly for absent members before the committee adjourned.

Transcript Highlights:

• And then finally, on graduate student loans, Congress eliminated the Graduate PLUS Loan Program for new
• borrowers and changed annual and aggregate loan limits in the federal Direct Loan Program, depending
• Applying a 50% pro-ration average to these loans means a loss of $97 million in loan borrowing annually
• Applying a 50% per ration average to these loans means a loss of $97 million in loan borrowing annually
• As such, we are not eligible for loans.

Transcript Highlights:

• So, these are for pre-development loans, So, these are for pre-development loans, is<00:23:02.400><c>
• ,<00:23:07.480><c> does</c><00:23:08.080><c> HHDC</c> loan, does HHDC loan, does HHDC have<00:23:09.760
• </c> pre-development loans. pre-development loans.
• No, we do have the authority to provide pre-development loans.
• No, we do have the authority to provide pre-development loans.

Summary: The Committee on Housing heard and acted on three measures related to the Hawaii Housing Finance and Development Corporation (HHFDC) and affordable housing policy. First, it considered GM 681, the nomination of Garth Yamanaka to the HHFDC Board of Directors. Yamanaka testified that he supports using all available tools to increase housing production, including open space and park dedication where feasible, more revenue-neutral and workforce housing, and a broad mix of housing types. Senators questioned him on priorities such as perpetual affordability, state- and county-owned projects, and whether HHFDC should focus more on revenue-neutral housing; he generally supported greater flexibility and more options, while emphasizing the need to consider feasibility and local market needs. The committee recommended GM 681 for advise and consent and adopted that recommendation unanimously, with Senator Fevella excused. The committee then heard GM 764, the nomination of Susan Coons to the HHFDC Board. Coons said she supports prioritizing state and government lands for affordable housing but stressed that the government cannot solve the housing shortage alone and should continue to engage private and nonprofit partners. In response to questions, she said HHFDC should give greater priority to perpetual affordability and could potentially devote more resources to revenue-neutral, income-blind housing, but she cautioned against blanket policies and said decisions should be guided by data, community needs, and project readiness. She also supported the idea of a 100,000-unit housing plan and said HHFDC should focus on more specific policies and projects. The committee recommended GM 764 for advise and consent and adopted the recommendation. Finally, the committee considered HCR 83, which supports using the dwelling unit revolving fund for pre-development costs through interim loans for government affordable housing projects. HHFDC testified in support and explained that it already has authority to make pre-development loans, but the resolution would provide policy support and comfort to the board. Members asked about loan security and default; HHFDC said such loans would typically be secured by land collateral and that it would not expect to forgive the loans. The committee agreed to pass the resolution with amendments, including adding committee report language about default and collateral and noting HHFDC’s existing authority. In a joint portion with the Committee on Energy and Intergovernmental Affairs, the committees also took up HCR 98 HD1 and recommended it pass with amendments to clarify that the countywide housing pattern book applies only to the City and County of Honolulu and involves collaboration between Honolulu housing and planning agencies. All recommendations were adopted, and the hearing adjourned.

Transcript Highlights:

• the loan.
• But I received a bad loan.
• They extended the loan a bit, and they're there now.
• A predatory loan was obtained in February of 2005.
• Morris, I received a piggyback loan in 2006.

Committee: Joint Joint Committee on Financial Services

Summary: The Committee on Financial Services heard testimony on several bills focused on consumer debt, mortgage regulation, credit unions, and foreclosure prevention. The Attorney General’s Office strongly supported the Debt Collection Fairness Act (S. 735/H. 1275), saying it would curb abusive debt collection, prevent stale claims, limit civil arrest warrants, modernize wage garnishment rules, and reduce judgment interest rates. Senator Eldridge and legal aid advocates echoed that support, while the Massachusetts Bankers Association and the Massachusetts Mortgage Bankers Association supported bills on credit union mission/competition, consumer privacy in mortgage applications, subprime loan definitions, UCC updates, and protections for vulnerable adults, but opposed foreclosure mediation proposals and several credit union expansion measures, arguing they would distort competition and add unnecessary burdens. A large portion of the hearing focused on foreclosure prevention bills (S. 765/H. 1090), with testimony from homeowners, housing organizers, and legal advocates describing predatory lending, confusing servicing practices, health harms, and displacement caused by foreclosure. Supporters said a statewide pre-foreclosure mediation program would give borrowers and lenders a chance to reach alternatives such as loan modifications or repayment plans, and cited local experience in Lynn where mediation reportedly produced high rates of foreclosure alternatives. Opponents from the banking industry argued Massachusetts already has strong foreclosure protections and that a new mandatory process could delay resolution without added benefit, though they also noted a 2024 pilot should be evaluated first. The committee also heard strong support for H. 1282/S. 684, which would update the Massachusetts Uniform Commercial Code. State Street and a bankruptcy attorney said the changes are needed to keep commercial law current with electronic transactions, tokenized assets, and blockchain technology, and to maintain competitiveness with other states. The hearing concluded after public testimony, with no bill votes taken during the session; the chair thanked speakers and the committee voted to adjourn.

Transcript Highlights:

• For the reimbursement loans, the less than ten million dollar loan, They've got their money.
• Private placements are sort of a niche for Smaller loans, kind of maybe less credit-worthy loans, but
• the loan.
• That's the instances in which we would make loans for taxable loans, for instance.
• So it's possible that there are ways in which we could help make loans—make loans potentially.

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• So some of you might be familiar with the concept of Graduate PLUS loans or professional degree loans
• It proposes a public revolving loan program by which the state loans a student money to pursue their
• The loan program would allow the state to loan a student money to pursue their degree for tuition costs
• It's going to be a very small loan program. Thank you.
• It's going to be a very small loan program. Thank you.

Summary: The Postsecondary Education & Workforce Committee held a work session on higher education funding and then public hearings on House Bill 2148 and House Bill 2132. In the work session, OPR staff Kate Henry reviewed enrollment trends, tuition policy, financial aid programs, and funding sources for Washington’s public colleges and universities. Members asked about FTE versus headcount, tuition growth, the Washington College Grant, College Bound, and the Workforce Education Investment Account. Henry explained how state appropriations, tuition, and financial aid interact, and noted that higher education makes up a significant share of the state budget. No votes were taken during the work session. House Bill 2148 would create a “pay-it-forward” graduate student aid program administered by the Student Achievement Council, allowing students to receive tuition support and later make income-based contributions for up to 15 years to fund future students. Sponsor Rep. Reid said the bill is intended to offset the loss of federal graduate loan options and support workforce needs in fields like nursing, teaching, and research. Committee questions focused on repayment terms, possible caps, interest, and program capitalization. Testimony was overwhelmingly supportive, with students and advocates arguing the bill would expand access to graduate education and avoid predatory private debt. House Bill 2132 would limit disclosure and retention of personally identifying and financial information from WASFA applications, generally requiring the Student Achievement Council and institutions to stop retaining that information after one year following the award year unless needed for an audit or appeal. Rep. Leavitt said the bill is meant to reduce unnecessary long-term retention of sensitive student data and improve privacy and security. Supporters, including student leaders and immigrant-advocacy groups, said the bill would protect vulnerable students and increase trust in the aid process. Some members raised concerns about whether shorter retention could affect future record needs, including immigration-related documentation, but the sponsor said students can keep their own records and that the bill preserves audit authority. The hearing ended without a vote, and the chair noted an upcoming busy schedule and cutoff deadlines.

Transcript Highlights:

• about $650,000, one agriculture processing loan, $150,000, and then 12 beginning farmer loan programs
• about $650,000, one agriculture processing loan, $150,000, and then 12 beginning farmer loan programs
• about $650,000, one agriculture processing loan, $150,000, and then 12 beginning farmer loan programs
• ,</c><00:09:56.880><c> 150,000,</c> agriculture processing loan, 150,000, agriculture processing loan
• </c> loan program at $250,000. loan program at $250,000.

Summary: The committee met on September 18, 2025, approved the July 10 minutes, and received Brandon Reid’s monthly report on Kentucky agriculture development and finance activity for July and August. Reid emphasized the long-running structure created under House Bill 611 and Senate Bill 28, the role of county agriculture development councils in all 120 counties, and the importance of the program as a national model for supporting Kentucky agriculture. He also introduced new staff and interns, including a new loan programs manager, Rachel Coward, and project manager Kylie Davis. For July, the development board reported $3.4 million invested in agriculture and the finance corporation reported $3.1 million in loans. Highlights included 11 county council meetings, site visits, program reviews, and 18 project reports. July approvals included county agriculture incentive programs, deceased farm animal removal programs, youth incentive programs, county/state projects, infrastructure loans, an agriculture processing loan, and beginning farmer loans. Staff also noted that all 120 counties had submitted their required five-year comprehensive plans on schedule. Bill McCloskey then highlighted several funded projects, including Dino’s Farm LLC in Jefferson County, which received support to purchase a meat processing facility and equipment, with the goal of creating market opportunities for goat, sheep, and cattle producers and establishing Kentucky’s first halal meat processing facility. Other projects included a veterinarian facility project to address large animal vet shortages and Grow Appalachia at Berea College, which provides technical assistance and market support for small-scale and eastern Kentucky producers. Members discussed the need for programs such as high tunnels and other small-scale opportunities in rural areas, and staff noted related resources such as CAPE and NRCS funding. For August, the board reported $500,000 in development board investments and just over $3 million in finance corporation loans, along with fewer staff activities than July but continued county council, site visit, and project review work. August approvals included county agriculture incentive programs, deceased animal removal programs, youth incentive programs, county/state projects, agriculture infrastructure loans, beginning farmer loans, and a horticulture incentives loan. Additional project updates included another veterinary equipment purchase, emergency safety equipment in Graves County, and a food safety and efficiency incentive for Jared Cornet.

Transcript Highlights:

• Um the loan is really it's this loan?
• </c> net plus for the district on the loan. net plus for the district on the loan.
• . loan. loan.
• loan the loan to paying off the uh the loan the loan to Claremont<00:53:32.480><c> Savings</c><00:53
• So, they can loan out...

Committee: Senate Education

Transcript Highlights:

• And so it may be working with them to decrease the loan size, which then obviously decreases the loan
• , given the nature of those loans, is, I think, very commendable.”
• You do track loan activity by region or by county, right? Yes.
• And we guarantee those loans.
• Where we loan money to municipalities.

Committee: Senate Rules

Summary: The Senate Rules Committee met to consider several routine items and a gubernatorial appointment. The committee approved appointments not required to appear for Gina Castro Rodriguez to the Board of State and Community Corrections, Richard Stein to the California Arts Council, and Nicholas Hardiman to the California Housing Finance Agency Board of Directors. It also approved references to bills, committee and joint committee appointments, subcommittee ratifications, and floor acknowledgments. A rule waiver request from Senators Perez and Padilla to suspend the SR 22.5 bill-introduction limit was approved on a divided vote. The committee then heard testimony from Andy Nakahata, nominee for executive director of the California Infrastructure and Economic Development Bank (iBank). Nakahata described his background in infrastructure finance and said he would focus on stewardship, expanding awareness of iBank programs, and working with lenders, financial development corporations, and municipal advisors to reach more counties and communities. Members asked about equitable geographic access, creditworthiness standards, outreach to underserved areas, support for financially distressed hospitals, and the new California Transmission Accelerator program. Nakahata said iBank can work with public and nonprofit health care entities, that transmission financing would be a portion of larger project capital stacks, and that the bank’s role is financing rather than regulating utility tariffs or transmission costs. Public witnesses from the finance and legal sectors testified in support of Nakahata, praising his expertise and leadership. No opposition testimony was offered. The committee then voted unanimously to advance Nakahata’s nomination to the full Senate for confirmation.

Transcript Highlights:

• Some of you might be familiar with the concept of Graduate PLUS loans or professional degree loans, which
• It proposes a public revolving loan program by which the state loans a student money to pursue their
• It's going to be a very small loan program. Thank you.
• It's going to be a very small loan program. Thank you.
• graduate student loan program, it is even harder for them.

Bills: HB2148 , HB2132

Committee: House Postsecondary Education & Workforce

Keywords: education, pay it forward program, tuition, student loans, financial aid, state financial aid, financial aid application, postsecondary education, higher education, student aid, Washington Student Achievement Council, public records exemption, privacy, student records, personally identifying information, financial information, data sharing agreement, enrollment assistance, institutional records, FERPA

Transcript Highlights:

• use that to pay the loan off and the next session will pay it off.
• But within that, What I learned is that the hospital loan thing was at 1%.
• And I believe they're eligible for $20 million for a federal loan.
• There's different kinds of loans they have to go through.
• I think establishing this new loan fund is very important.

Bills: SB2225 , HB1619

Committee: Senate Appropriations

Summary: The Appropriations Committee met to clear several remaining bills and discussed scheduling around upcoming conference committees. The chair noted that full committee meetings would likely be held after floor session, while Thursday and Friday mornings were being reserved for conference committees. Members also discussed how conference committees would be scheduled and where they would appear on their dashboards. The committee first took up House Bill 1577, relating to wastewater facility grants. Amendments were adopted to create a loan/line-of-credit mechanism through the Bank of North Dakota and the Department of Environmental Quality to keep two canceled federal BRIC-funded projects moving: a lagoon project in Fezenden and a wastewater treatment project in Lincoln. Members emphasized the language was intended to apply only to those projects and to preserve the possibility of federal reimbursement later. The amendment passed 16-0, and the bill as amended received a 15-1 do pass recommendation. The committee then reconsidered House Bill 1009 and adopted an additional amendment transferring the remaining balance in the bioscience innovation grant fund to the general fund, rather than issuing another round of grants. That amendment passed 16-0, and the bill as amended also received a 16-0 do pass recommendation. Finally, the committee considered House Bill 1619, creating a long-term care facility loan fund and adjusting an existing medical facility loan program. After discussion, members amended the bill to reduce the long-term care fund cap to $10 million per project, set the interest rate at 2%, extend repayment to 30 years, and align the medical facility loan program to 2% with a 30-year term. The amendment passed 14-2, and the bill as amended received a 16-0 do pass recommendation.

Transcript Highlights:

• Loans aren't the way to go. We need less loans.
• on top of another loan on top of another loan.
• loan.
• Loans aren't the on top of another loan.
• </c> of another loan on top of another loan. of another loan on top of another loan.

Summary: The committee heard testimony on SB 2294, which would require condominium associations, boards, and managing agents to comply with declarations, bylaws, county ordinances, and state and federal laws, including mortgage lending requirements. The Community Associations Institute opposed the bill as redundant, arguing existing law already requires compliance and provides penalties. Supporters, including condominium owners and board members, said the measure would clarify that associations are not “self-governing” in a way that exempts them from outside laws, and cited examples where local officials or police told residents to take issues back to their boards. Several supporters said the bill would reinforce board responsibility for permits, safety, and legal compliance. The committee noted 27 pieces of testimony, with 10 in support and 17 in opposition, and then moved on without taking a vote on the measure in the transcript provided. The committee also took up SB 2298, which would require common interest community proxy forms to include additional language explaining proxy selection options. The Community Associations Institute opposed the bill, saying the proposed language was inaccurate and would not improve consumer clarity unless significantly revised. Supporters argued that proxy forms are confusing and that clearer instructions would help homeowners understand how their votes are being used. Opponents said the added language would make the forms longer and more confusing, and suggested a separate instruction sheet or other educational material instead. Testimony also raised broader concerns about proxy voting being misused in some associations, with one witness urging that proxy voting be eliminated altogether. The committee reported 29 written testimonies, including seven in support, 19 in opposition, and three with comments, and again did not record a final vote in the excerpt. For SB 2300, which would shorten condominium reserve cash-flow projections from 30 years to 25 years, the Community Associations Institute opposed the bill, saying it would not make housing more affordable, would reduce transparency, and would increase the annual burden by giving associations less time to save for long-life components. The group suggested that if affordability is the goal, lawmakers should consider allowing future loans or special assessments with guardrails. Supporters of the bill said the shorter projection period would better reflect practical budgeting and help associations plan more realistically, though some supporters also warned against relying too heavily on loans and emphasized accountability and fiduciary responsibility. Other testimony stressed that the impact of changing the projection period would vary by association and that many owners are already struggling with rising fees. The discussion remained focused on testimony and policy concerns, with no final action on SB 2300 shown in the transcript.

Transcript Highlights:

• Unlike many conventional home loans, CalVet keeps and services its loans in-house, which gives the department
• The CalVet Home Loan Program is self-supported, with veterans repaying their loans through the mortgage
• Without new bond authority, the CalVet Home Loan Program could lose the ability to issue new loans, putting
• These veterans will come home, and we want that VA loan there, but we want a CalVet loan program there
• Then loans will cease and layoffs will begin.

Committee: House Military and Veterans Affairs

Transcript Highlights:

• The NMFA provides a subsidy, which NMFA delivers to all our loan recipients, or most of our loan recipients
• Authority to fund from the loan fund.
• It offers 100% principal forgiveness on all those loans.
• We have overcommitted our loan fund by about 35 million.
• , or funding loan, grant, blah blah blah.

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• And so it may be working with them to decrease the loan size, which then obviously decreases the loan
• To your knowledge, does I-Bank have a good track record for their loans?
• the nature of those loans, is, I think, very commendable.
• You do track loan activity by region or by county, right? Yes.
• , and we guarantee those loans.

Summary: The Senate Rules Committee met to consider several routine agenda items and a gubernatorial appointment. The committee first approved appointments not required to appear, including Gina Castro Rodriguez to the Board of State and Community Corrections, Richard Stein to the California Arts Council, and Nicholas Hardiman to the California Housing Finance Agency Board of Directors. Members also approved references to bills and committees, committee and subcommittee appointments, joint committee appointments, and floor acknowledgments. Two rule waiver requests by Senators Perez and Padilla to suspend SR 22.5 for additional bill introductions were discussed and ultimately approved on a divided vote. The committee then heard testimony from Andy Nakahata, nominated to serve as executive director of the California Infrastructure and Economic Development Bank (IBank). Nakahata described his background in finance and infrastructure lending and said he would focus on stewardship, expanding access to IBank programs, and supporting small businesses and infrastructure projects statewide. Senators questioned him about geographic equity in lending, outreach to underserved counties, creditworthiness standards, the Transportation Infrastructure Accelerator, and whether IBank could better reach municipalities and health care providers. Nakahata said IBank tracks lending by county, works through financial development corporations, municipal advisors, and other networks, and can adjust loan sizes or partner with other funding sources when projects are not fully creditworthy. Public witnesses spoke in support of Nakahata, citing his expertise and leadership in public finance. No opposition testimony was presented. The committee then voted unanimously to move Nakahata’s nomination to the full Senate for confirmation. Afterward, the committee re-ran the earlier votes for the record, confirming the appointments and other agenda items, and then adjourned the public portion of the meeting to enter executive session.

Transcript Highlights:

• secure over $500,000 in pandemic relief loans for herself and family members.
• Report on fraud related to certain COVID-19 loans.
• the 7(a) program provided more than 38,000 loans worth more than $20.3 billion, with an average loan
• approve or disperse new loans until approve or disperse new loans until Congress appropriated extra
• , create specific budget line items for disaster loans, and direct the U.S.

Bills: HB2323 , HB6644 , SB629 , HB8882 , HB8881 , HB8880 , HB8879 , HB4238 , HR915 , HR826 , HB7401 , HB7396

Keywords: Big Bend National Park, land acquisition, boundary adjustment, Secretary of the Interior, conservation, Holodomor, Ukraine famine, 1932-1933 famine, genocide recognition, Soviet Union, Joseph Stalin, collectivization, grain confiscation, human rights, Ukraine, Ukrainian people, Russian aggression, Vladimir Putin, foreign affairs, sense of the House