Video & Transcript Research : 'foreclosure surplus'

Page 39 of 117
HI
Transcript Highlights:
  • There was a $900 million surplus that was put into a special fund.
  • I believe it’s around $900 million surplus, so I feel like it’s a little disingenuous to say that there
  • that was put into a million surplus that was put into a special<01:05:12.480> fund<01:05:13.240
  • fund I believe it's around $900 special fund I believe it's around $900 million<01:05:14.880> surplus
  • so I feel like it's a million surplus so I feel like it's a little<01:05:16.839> disingenuous
Keywords: 910, house, all
Summary: The Committee on Education met on January 30 and heard testimony on several bills, beginning with an announcement asking testifiers and members to keep remarks brief because of weather. The vice chair also explained that HB 440, relating to immigration issues in schools and state hospitals, was removed from the agenda because the proposal would not create meaningful legal protections and immigration policy is governed by federal law. The committee then moved through a series of education-related measures, with testimony largely from the Department of Education, the School Facilities Authority, the Attorney General’s office, unions, advocacy groups, and individual testifiers. On HB 330, concerning school impact fees, the School Facilities Authority supported the bill as aligning policy with implementation, while the Tax Foundation of Hawaii said the fee accounts have accumulated large balances, including more than $20 million in impact fee funds and nearly $9 million from predecessor fair-share contributions, and urged that collected money be used rather than left idle. DOE said it would follow up on the balance and why it was not being used. On HB 1188, dealing with workforce housing, DOE and the Charter School Commission offered comments or support, the Attorney General suggested clarifying the phrase “within commuting distance” by using a mileage standard and adding repayment language, and HSTA, HGEA, and others supported the bill, with HSTA saying teachers need housing to be able to live and work in Hawaii. On HB 624 and HB 625, both related to school psychologists, DOE said it would participate in a work group on the pathway bill and supported the incentive program bill; school psychologists and related groups supported the measures, while one testifier said DOE should not lead the work group alone because school psychologists may work in many education settings beyond DOE schools. The committee also heard HB 1314 on youth mental health in schools. DOE described its student support process, universal screening tools, and behavioral health services, saying schools already identify and respond to concerns and that staff are trained to report issues, while the Attorney General warned the bill could expose schools to liability and recommended a broad liability waiver. Testimony was mixed, with several supporters and one opponent. On HB 616, concerning school safety and harassment protections for educational workers, the Attorney General sought clarifying amendments on harassment definitions, temporary restraining order costs, and paid leave, while HSTA, HGEA, and individual teachers strongly supported the bill, describing harassment incidents and arguing for a standardized statewide response. DOE said it already has reporting pathways, visitor codes of conduct, trespass notices, and an ethics hotline, but acknowledged implementation varies by school and that staff can escalate concerns if needed. The committee also began hearing HB 88 on a three-year pilot program for athletic travel, but the transcript cuts off before that bill’s testimony is completed or any votes are taken.
MN

Minnesota 2025-2026 Regular Session

House Taxes Committee 3/25/25

Taxes

Transcript Highlights:
  • We are in this situation because we overspent and overtaxed when we had an $18 billion surplus, so I'm
  • We are in this situation because we overspent and overtaxed when we had an $18 billion surplus, so I'm
  • We are in this situation because we overspent and overtaxed when we had an $18 billion surplus, so I'm
  • We are in this situation because we overspent and overtaxed when we had an $18 billion surplus, so I'm
  • We are in this situation because we overspent and overtaxed when we had an $18 billion surplus, so I'm
MN

Minnesota 2025-2026 Regular Session

Ways Committee Meeting - 2026-05-14

Ways and Means

Transcript Highlights:
  • So when that rolls around, if the surplus is there, the fund will be replenished to 50 million, and the
  • So when that rolls around if the<00:04:43.520> if<00:04:43.680> the<00:04:43.919> surplus
  • > is<00:04:44.720> there<00:04:45.360> the<00:04:45.520> fund the if the surplus
  • is there the fund the if the surplus is there the fund will<00:04:46.000> be<00:04:46.160>
WA

Washington 2025-2026 Regular Session

Joint Higher Education Committee Dec 3rd, 2025

Joint Higher Education Committee

Transcript Highlights:
  • And so at the end of the 2021–23 biennium, we had a surplus of, I want to say, over $100 million or so
  • And as our story of the account continues, you can see that surplus is no longer there.
  • And then specifically thinking about the surplus available in the account...
  • And then specifically thinking about the surplus available in the account, the 2024 supplemental budget
Summary: The Joint Higher Education Committee met for a work session on higher education accounting practices and financial transparency. OFM Deputy Director Sarah Rupp explained how state accounting rules and higher education reporting differ, including what data is captured in AFRS today and what will move into Workday, with universities generally reporting summary-level fund data, mandatory codes, and most balance sheet and income statement activity, but not transaction-level detail or vendor payment information. Representatives from the University of Washington and Washington State University described the complexity of their own accounting systems, the many entities and business lines they must track for audits and compliance, and the need to reconcile university-level accrual accounting with state reporting requirements. The committee also heard from the Education Research and Data Center on the public four-year finance dashboard created under Senate Bill 5512; ERDC said the dashboard is based on publicly available data, is best used to examine institutions individually rather than compare them directly, and will be updated with additional metrics in 2025 and 2026. The committee then received a presentation from the Washington Student Achievement Council on the Workforce Education Investment Account (WIA). Joel Anderson reviewed WIA’s creation under House Bill 2158, its revenue sources, and its intended uses for higher education, financial aid, and workforce development. He said recent legislation significantly increased WIA revenues and that, in the 2025–27 budget, the account is being used in new ways, including to replace general fund support for University of Washington operations and to fund a larger share of the Washington College Grant and some faculty compensation costs. Anderson said roughly 98% of current WIA appropriations go to higher education, but the share used to supplant other higher education funding has grown, and he estimated about 60% to 70% of current spending still aligns with the account’s original intent. He also described a new effort to track WIA appropriations across biennia in more detail and noted the WIA Oversight Board’s role in recommending uses of the account and monitoring outcomes. No votes were taken; the committee ended by moving into executive session for staffing issues and then adjourned.
MN
Transcript Highlights:
  • We'd have a surplus after this year. The wave won't crash this year, but it will crash.
  • We'd have a surplus<00:36:38.000> after<00:36:38.320> this<00:36:38.560> year.
  • <00:36:39.440> The<00:36:39.599> wave<00:36:39.920> won't surplus after this
  • The wave won't surplus after this year.
Keywords: 1183, house
MN

Minnesota 2025-2026 Regular Session

Committee on Agriculture, Veterans Broadband and Rural Development - 03/12/25

Agriculture, Veterans, Broadband, and Rural Development

Transcript Highlights:
  • We had a surplus of $18 billion.
  • We had a surplus of $18 billion.
  • We had a surplus of $18 billion.
  • We had a surplus of $18 billion.
  • We had a surplus of $18 billion.
Keywords: 1187, senate, all
TX

Texas 89th Regular

Insurance May 20th, 2025

Insurance

Transcript Highlights:
  • released a report in March, showing that the property casualty industry is sitting on $1.1 trillion in surplus
  • There's a lot of numbers thrown around about how much money is in surplus in various places.
  • We would especially point out the indexing of the assessment on insurers, which would encumber surplus
Bills: SB1642, SB1643, SB2530
CA
Transcript Highlights:
  • And does the Governor have restrictions on how that money in the surplus account can be used relative
  • One note that I would make is the temporary surplus holding account is not a new account.
  • That's why it's called the temporary surplus holding account.
  • So we're draining all the surplus out of... ...and going to be a problem.
  • So we're draining all the surplus out of the MBA account to backfill the efficiency cuts.
Summary: The hearing focused on the governor’s May Revision proposals for transportation, natural resources, climate, and related programs, with the Department of Finance and the LAO presenting competing views on the state’s fiscal condition. Finance said the budget remains balanced over two years, with major climate-bond, water, parks, transportation, DMV, and agriculture proposals, while the LAO argued the state still has a structural deficit and should reject or defer many new discretionary spending items, preserve reserves, and be cautious about ongoing commitments. The LAO specifically questioned the timing and scale of new spending for programs such as Clean California, Healthy Rivers and Landscapes, and the Golden Gate Fields acquisition, and urged more clarity on future obligations and revenue scenarios, including for the Greenhouse Gas Reduction Fund. A major portion of the hearing was devoted to the Healthy Rivers and Landscapes proposal for Bay-Delta water quality implementation. Secretary Wade Crowfoot and Finance described it as an enforceable, science-based alternative to a more traditional regulatory approach, with the state’s $25 million request intended to support early implementation, monitoring, habitat restoration, and environmental flows. The LAO countered that the Water Board has not yet adopted the updated Bay-Delta plan, that the proposal may be premature, and that the Legislature should wait for more information on the state’s total funding commitment and the program’s long-term costs. Several members expressed support for the program as a way to reduce conflict and protect water reliability, while others echoed concerns about timing and fiscal exposure. The committee also examined the proposed $125 million Proposition 4 contribution toward acquiring the Golden Gate Fields property for a shoreline park and habitat project. State officials said the acquisition is a time-sensitive, once-in-a-generation opportunity, with an appraised value of $175 million and additional philanthropic and local funding expected to close the gap. Members questioned whether the project had gone through the usual competitive process, whether the site is the best use of scarce park bond dollars, and how public access, habitat, and disadvantaged-community priorities would be protected. The discussion ended without a vote, and the committee moved on to transportation items including Clean California litter abatement, the Games Route Network, homeless encampment coordinators, and DMV modernization and field office proposals, with LAO recommending rejection or delay on several of those requests as well.
TX

Texas 89th Regular

89th Legislative Session May 2nd, 2025

Texas House Floor Meeting

Transcript Highlights:
  • A $30 billion surplus over that time, is that correct? Yeah, close.
  • It's about a $24 billion in the surplus. I'm sorry. No, it's okay.
  • We have one surplus; it's about $24 billion. That's what we call the surplus.
  • But then we also have another surplus that we...
  • The surplus comes largely from the influx of cash from record high inflation, and then unfortunately
Bills: HJR138, HB42, HB 104, HB 129, HB677, HB426, HB668, HB1699, HB2017, HB2128, HB2038, HB3783, HB3717, HB2316, HB3686, HB2563, HB3883, HB4021, HB2788, HB2663, HB3305, HB3173, HB3474, HB 1105, HB3531, HB3490, HB3597, HB 1295, HB3512, HB3010, HB3112, HB4215, HB3223, HB3464, HB3120, HB4214, HB4511, HB3704, HB4081, HB4783, HB4063, HB2783, HB4937, HB5085, HB2510, HB3426, HB4361, HB 1169, HB2516, HB2347, HB4034, HB4700, HB3560, HB5150, HB3860, HB3146, HB3924, HCR98, HCR92, HB1520, HB1545, HB5265, HB1887, HB1914, HB2402, HB2306, HB2350, HB3000, HB3237, HB3326, HB3211, HB 1056, HB2081, HB2187, HB3092, HB3308, HB3526, HB3750, HB4219, HB4230, HB4290, HB5238, HB4804, HB4749, HB245, HB1465, HB294, HB793, HB809, HB3928, HB334, HB2037, HB1973, HB285, HB4341, HB 1043, HB 1234, HB 1193, HB1729, HB2498, HB1314, HB1353, HB3960, HB3923, HB2221, HB2517, HB2518, HB2213, HB5092, HB3748, HB5246, HB4344, HB1482, HB4044, HB2702, HB4264, HB2807, HB2898, HB3181, HB3250, HB2091, HB2115, HB2542, HB2768, HB3349, HB4406, HB1593, HB1899, HB3133, HB3133, HB4960, HB3214, HB2145, HB 1201, HB5061, SB29, SB879, SB65, SB1745, SB412, SB412, SB1746, SB1238, SB1341, SB522, SB1532, SB1378, SB1062, SB2066, SB1963, SB2204, SB1366, SB2077, SB1967, SB1151, HB1618, HB2156, HB2615, HB2615, HB2349, HB1926, HB569, HB1762, HB38, HJR138, HB42, HB 104, HB 104, HB 129, HB677, HB426, HB668, HB1699, HB2017, HB2128, HB2038, HB3783, HB3717, HB2316, HB3686, HB2563, HB3883, HB4021, HB2788, HB2663, HB2663, HB3305, HB3173, HB3474, HB 1105, HB3531, HB3531, HB3490, HB3490, HB3597, HB 1295, HB3512, HB3010, HB3112, HB4215, HB3223, HB3223, HB3464, HB3120, HB4214, HB4511, HB3704, HB4081, HB4783, HB4063, HB2783, HB4937, HB5085, HB2510, HB3426, HB4361, HB 1169, HB2516, HB2347, HB4034, HB4700, HB3560, HB5150, HB3860, HB3146, HB3924, HCR98, HCR92
MN

Minnesota 2025-2026 Regular Session

Committee on Finance - 03/11/26

Finance

Transcript Highlights:
  • We now project to end fiscal years 26-27 with a surplus of $3.7 billion, which is $1.3 billion more than
  • Left unspent, that surplus carries over into fiscal years '28 and '29.
  • up here, but, you know, I am concerned with the positioning of our $3.7 billion in the bank as a surplus
  • the<00:46:22.040> bank<00:46:22.320> as<00:46:22.440> a<00:46:22.520> surplus
  • in the bank as a surplus. in the bank as a surplus.
Keywords: 1187, senate, all
NH
Transcript Highlights:
  • If those two factors um used as part of the LBA surplus used as part of the LBA surplus statement,<00
  • But I just want folks to be aware of that because when you do look at the surplus statement, you will
  • when you do look at the surplus when you do look at the surplus statement,<00:16:02.639> you<
  • 27 biennium, they're assuming 2% and they're assuming a 3% surplus lapse across the state.
  • a 3% surplus lapse uh across the state. a 3% surplus lapse uh across the state.
Keywords: 928, house, all
Summary: The committee met with DHS Chief Financial Officer Nathan White to receive an update on the department’s budget lapse and vacancy rates. White explained the difference between the “back-of-the-budget” reduction and lapse assumptions, saying DHS is facing a current biennium reduction of about $23 million and estimating roughly a $60 million general fund lapse in state fiscal year 2025, compared with about $13.5 million the prior year. He said DHS’s lapse is driven largely by program utilization, labor market conditions, contract spending, and statutory carry-forwards in areas such as Medicaid and developmental disabilities, which tend to produce a smaller lapse in the first year of the biennium and a larger one in the second year. He also noted that the House and Senate budgets differ on some operating items, including Medicaid rates, with the Senate having struck a House proposal to reduce rates by 3%. Members questioned White about whether DHS ever spends down lapse money on last-minute purchases. He said the department does not engage in that practice, though it does retain some flexibility in its facilities budget for emergencies. He also described the process for transferring funds within and between class lines, including the need for fiscal committee approval above statutory thresholds, and gave examples such as moving funds to cover overtime in the SYSC budget and to ensure Medicaid payments for nursing facilities. White said such transfers are public and transparent and are reviewed by the governor and Executive Council. The committee then discussed DHS staffing. White said the department has a little over 3,200 authorized positions, with a vacancy rate around 14.5%, and that a hiring freeze had been imposed a few months earlier while exempting direct care positions. He said DHS is planning for about a $30 million general fund reduction to personnel, equivalent to just under 400 positions, and is managing postings centrally to stay within budget by July 1. In response to questions about the loss of about $80 million in federal funds, White and Associate Commissioner Patricia Tilly said DHS avoided layoffs by shifting staff into vacant positions, but that the cuts affected community contracts, public health workers, laboratory work, and some IT/data projects. Tilly said roughly 20 positions were affected, most were reassigned, a few staff left voluntarily, and the department has less flexibility going forward if more federal funding ends.
OK
Transcript Highlights:
  • Depending on the settlement agreement, if we destroy the evidence, we're currently getting ready to surplus
  • We're getting ready to surplus a lot of alcohol, I think 12 pallets. We're trying to get rid of it.
  • We might say we're not going to surplus it. We're selling it.
Keywords: 914, all
CO

Colorado 2026 Regular Session

Colorado Senate 2026 Legislative Day 115 May 8th, 2026

Colorado Senate Floor Meeting

Transcript Highlights:
  • surplus surplus and<01:32:21.160> claw<01:32:21.520> back<01:32:21.840> money<01
  • we're going to reduce your TABOR surplus we're going to reduce your TABOR surplus refund. refund
  • surplus surplus somewhere<01:32:54.320> between<01:32:54.720> 286<01:32:55.640> million
  • TABOR refunds come from surplus revenue above the TABOR cap.
  • <01:39:31.920> revenue TABOR refunds come from surplus revenue TABOR refunds come from surplus
Keywords: 981, all
Summary: The Senate was in session with a quorum present, approved the journal, and received several committee and House messages before moving through a long third-reading calendar. The chamber also paused for multiple personal privilege recognitions, including welcoming community guests and students, and a lighthearted update that Senator Sullivan’s missing stuffed “Chip” had been found. The majority leader later moved to lay over the remaining third-reading bills until later in the day, and the Senate also laid over special-order second reading bills until after third reading. On third reading, the Senate passed Senate Bill 185 and a series of House bills, including HB 1342 on bear-luring behavior, HB 1269 on transit access, HB 1225 on distributed energy resources, HB 1233 on property tax procedures for nonresidential property, HB 1414 on medical records held by certain health care entities, HB 1256 on release procedures from the Department of Corrections, HB 1004 on a child care income tax credit, HB 1014 extending the Colorado Job Growth Incentive Tax Credit, HB 1111 creating a pesticide product disposal and container recycling program, and HB 1287 continuing certain Division of Real Estate regulatory functions. HB 1206 was laid over to Monday, and SB 193 was laid over to the bottom of the calendar. Several of these bills passed with notable no votes from minority members, while others passed with broad support. The Committee of the Whole then took up House Bill 1276, a bill concerning protections for immigrants in Colorado and related appropriations. Senator Weisman explained and the committee adopted two amendments: one extending the deadline for peace officer training from July 1 to December 31, 2027, and another clarifying that a certification requirement would not apply to the judicial branch’s e-filing system but would continue to apply to other judicial data systems. Senator Judah spoke strongly in support of the bill, arguing it was about government accountability, privacy, and conditions in detention facilities. The committee adopted both amendments and then adopted HB 1276. The committee also considered House Bill 1419, dealing with the overall refund amount for state revenues above the TABOR spending limit. Senator Bridges presented the committee report, and Senator Kirkmeyer spoke in opposition, arguing the bill was an unnecessary maneuver to retroactively alter accounting and TABOR refund calculations despite prior compliance and a clean audit opinion. After debate, the committee report was adopted and the bill was taken up for further discussion, with the transcript ending amid that debate.
NH

New Hampshire 2025 Regular Session

Senate Finance (04/28/2025)

Finance

Transcript Highlights:
  • But the the numbers are surplus here.
  • I'm about $4 surplus would be gone. I'm about $4 million<00:52:30.559> short.
  • They assumed $300,000 on the surplus statement for the sale of that.
  • They assumed $300,000 on the surplus statement for the sale of that.
  • surplus statement for the sale of that. surplus statement for the sale of that.
Keywords: 1191, senate, all
MN

Minnesota 2025-2026 Regular Session

Tax-free school supplies 3/24/26

Minnesota House Floor Meeting

Transcript Highlights:
  • we've imposed on families here in the state in the past three years, on top of the $18.5 billion surplus
  • we've imposed on families here in the state in the past three years, on top of the $18.5 billion surplus
  • we've imposed on families here in the state in the past three years, on top of the $18.5 billion surplus
  • we've imposed on families here in the state in the past three years, on top of the $18.5 billion surplus
Keywords: 919, house, all
Summary: The committee took up House File 331, as amended by the A1 amendment, and the bill was laid over for possible inclusion in the omnibus tax bill. The bill would permanently exempt school supplies from the sales tax, which the author described as a pro-family, pro-affordability, and pro-education measure intended to put money back into families’ pockets and avoid the burden of a temporary sales tax holiday. A representative from We Make Minnesota testified in opposition, arguing the exemption would provide only modest savings to most families while reducing revenue for public services. He said Minnesota already offers more targeted relief through the K-12 education subtraction/credit, noted that similar exemptions in other states are usually temporary, and estimated the bill would cost tens of millions of dollars annually while saving the average family only a small amount per child. He also said the bill was broad enough to cover many office supplies and could benefit higher-spending purchasers disproportionately. Committee members debated the bill’s scope and cost. Supporters said the exemption would help families immediately and noted that many eligible families do not claim existing credits because they must save receipts and file for reimbursement. Opponents argued the same money could be better used for K-12 formula increases or expanded targeted credits, and one member said the bill would narrow the sales tax base and was not well targeted. The author said he was open to working on limits to make the bill more targeted, but emphasized that the goal was direct tax relief for families.
HI
Transcript Highlights:
  • rental housing revolving fund monies to be either organizations that are required to use all financial surplus
  • 57.199> financial that are required to use all financial that are required to use all financial surplus
  • excluding<00:07:58.560> fees,<00:07:59.120> to<00:07:59.280> develop surplus
  • , excluding fees, to develop surplus, excluding fees, to develop additional<00:08:00.000> housing<
Keywords: 912, senate, all
Summary: The Senate Committee on Housing heard and then took action on a series of housing-related bills concerning HHFDC, HPHA, inclusionary zoning, nonprofit housing trusts, housing project exemptions, the rental housing revolving fund, and a new for-sale housing program. Testimony was generally supportive from HHFDC and HPHA, with additional support from groups such as Hawaii YIMBY, Grassroot Institute of Hawaii, Hawaii Appleseed, Housing Hawaii’s Future, Holo Collaborative, the Kobayashi Group, and others. On SB 2424, the Kobayashi Group argued the bill would help open housing to a broader pool of local households, including buyers slightly above income limits who still cannot afford market-rate housing. On SB 2342, the chair asked HHFDC for final figures on rental housing revolving fund appropriations since 2016 and was told the amount was about $1.1 billion, including conveyance tax revenue. In decision-making, the committee recommended passage of SB 2189 with amendments, noting concerns about transparency and accountability in HHFDC’s loan-award process; SB 2190 with amendments; SB 2234 with amendments; SB 2177 with amendments; SB 2194 unamended; SB 2342 with amendments; SB 2060 with amendments; and SB 2070 with amendments. The committee deferred SB 2195 and SB 2196 after testimony comments, and deferred SB 2063 because the chair said SB 2060 would be used instead as the vehicle for mixed-income subaccount changes. SB 2424 was discussed in hearing but then deferred in decision-making pending legal advice on issues including owner-occupancy, county income restrictions, buyback rules, and county council approval. The committee also heard testimony on SB 2062 and its proposed SD1, but deferred that measure because the relevant changes had already been incorporated into SB 2060 SD1.
NM

New Mexico 2025 Regular Session

IC - Investments and Pensions Oversight Sep 12th, 2025

Investments & Pensions Oversight Committee

Transcript Highlights:
  • They have a healthy surplus in active members compared to the amount of retirees that we pay out.
  • Value is at $88 million, so they actually have a surplus of $36.8 million.
  • If we were to do that, it would almost wipe out the entire surplus, going from 170% funded to 108% funded
  • Chair, in the first year, it would take effect if it essentially reduces the surplus from 172 to whatever
CA

California 2025-2026 Regular Session

Assembly Insurance Committee May 28th, 2025

Transcript Highlights:
  • If they can't find insurance there, then they can move to the E&S lines, a surplus lines.
  • There's about 132 surplus lines carriers in the state.
  • We are not, when we went into these fires, I believe we had about $400 million in surplus.
  • of Insurance on, we are not, when we went into these fires, I believe we had about $400 million in surplus
Summary: The Assembly Insurance Committee held an oversight hearing on the California Fair Plan, focused on the plan’s rapid growth, its financial stability after the January Southern California wildfires, and its role as the insurer of last resort. Fair Plan officials explained that the plan was created in 1968, is a not-for-profit involuntary association of licensed property insurers, and is intended to be a temporary safety net until policyholders can return to the admitted market. They emphasized that the plan is not a state agency or taxpayer-funded, but is regulated by the Department of Insurance and supported by member-company assessments if claims exceed available funds. Victoria Roach and Armand Feliciano said the Fair Plan has grown sharply since 2018 and especially after market pullbacks by major insurers, reaching about 575,000 policies and roughly $600 billion in exposure by spring 2025. They noted that growth is increasingly occurring in lower wildfire-risk areas, where the plan can sometimes be cheaper than the voluntary market, and said this undermines depopulation back into the private market. They also discussed recent policy expansions, including coverage for farms, higher residential and commercial limits, and pending or proposed changes such as AB 290, SB 525, and AB 226, which would add tools like a line of credit and bond access. A major portion of the hearing addressed the January wildfire losses and the plan’s financial response. Fair Plan officials said they assessed member insurers for $1 billion after determining claims and cash flow would exceed available resources, and that the process was approved quickly and paid smoothly, with more than 80% of the assessment collected within 10 days. They also described the reinsurance tower, the plan’s limited surplus, and the need for actuarially sound rates to reduce future reliance on assessments. On claims handling, they said the plan has received over 5,500 claims from the fires, has paid more than $2.9 billion so far, expects total payments near $4 billion, and has focused on advancing payments quickly for total losses and other urgent needs. Members questioned the plan’s solvency, the growth in non-wildfire areas, claim denials, smoke-loss coverage, and how depopulation works. Roach said most closed claims without payment were duplicates rather than denials, and that smoke claims require direct physical loss under the policy, with coverage determined case by case. Public commenters from the California Building Industry Association and the Independent Insurance Agents and Brokers of California said the Fair Plan’s growth reflects a weak voluntary market, inadequate rates, and insurer fear of future assessments, and urged support for rate increases and AB 226. The hearing concluded with no vote, but with a commitment from Fair Plan officials to follow up on unanswered questions and continue providing more transparency through public data and website disclosures.
TX

Texas 89th 2nd C.S.

89th Legislative Session Apr 25th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • Clerk: HB 2002 by Darby, relating to the eligibility of an organization to receive surplus agricultural
  • This bill relates to the eligibility of food banks to receive surplus goods through the Department of
  • Clerk: HB 1851 by Morales of Maverick, relating to disposition of certain surplus motor vehicles and
  • This bill allows public schools to be able to purchase surplus vehicles for campus safety purposes.
TX

Texas 89th 2nd C.S.

S/C on Defense & Veterans' Affairs Apr 7th, 2025

S/C on Defense & Veterans' Affairs

Transcript Highlights:
  • , in their in their interim report, House Bill 2426 instructs member agencies to study the use of surplus
  • In conducting the study, the work group will be tasked with evaluating the availability of surplus federal
  • , state, and local government buildings and land, assessing the feasibility of developing surplus property
  • bill requires various state agencies to get together and try and determine if there are excess or surplus
Bills: HCR7