Video & Transcript Research : 'trust protector'

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NH

New Hampshire 2025 Regular Session

House Finance Division II (03/10/2025)

Transcript Highlights:
  • kind<00:09:22.000> of the education trust funds but kind of the education trust funds but
  • drains the total of the education trust drains the total of the education trust fund<00:48:47.079
  • <00:48:53.839> can expenses into the education trust can expenses into the education trust
  • be funded through the education trust be funded through the education trust fund<00:49:10.119>
  • funds to administer the education trust funds to administer the education trust fund<00:57:37.280
Keywords: 928, house, all
Summary: The Finance Division II committee heard a Department of Education budget presentation from Commissioner Frank Edelblut and CFO Tammy Valen-cour. The department outlined its organizational structure and emphasized that it functions largely as a flow-through agency for school funding. The commissioner reviewed general fund and Education Trust Fund items, including state aid, dropout prevention, special education, building aid, lease aid, charter schools, Education Freedom Accounts, and the district adequacy calculation. He also highlighted the public school infrastructure fund, saying the state has invested well over $50 million in school safety since 2018 for measures such as access controls, locks, and window film, and argued that safety spending should be ongoing rather than reactive. Members asked about the variability in the school infrastructure line, special education aid, and the Discovery Education learning platform. Edelblut explained that some safety funding had come from one-time surplus appropriations rather than the agency line, and said special education aid was underappropriated because districts submitted more invoices than expected; he said the governor added $16 million to address the shortfall. He also described CTE renovation funding, noting four projects were initially proposed but only Jaffrey and Milford were still moving forward, with local votes required and the state covering 75% of costs. He said Milford’s project was omitted from the governor’s budget by oversight. The department also reviewed enrollment trends, noting public school enrollment has fallen from about 230,000 students in 2002 to about 185,000 today. Edelblut clarified that charter students are not eligible for Education Freedom Accounts, while EFA students attending non-public schools are counted as EFA students. He described several one-time surplus-funded initiatives, including Student Clearinghouse, MTSSB work, civics curriculum development, computer science education, and adult education. He also discussed a $4 million CTE tuition and transportation grant, saying it was kept as a competitive grant rather than a formula grant to avoid creating an ongoing maintenance-of-effort commitment that could jeopardize federal Perkins funding. In the final portion, Edelblut identified prioritized needs in the department’s budget, especially funding for a state administrator for assessment to support the legislatively required civics assessment, and additional support for the Discovery Education platform. He said every school in the state is using the platform and cited more than 1.5 million educator engagements, while a member raised concerns about mixed reviews and uneven district awareness of the program. No votes or formal actions were taken during the presentation and question period.
NH

New Hampshire 2026 Regular Session

House Education Funding (02/18/2026)

Education Funding

Transcript Highlights:
  • A lot of them have um trust funds.
  • custody of any of the trust fund or expendable<04:02:14.080> trust<04:02:14.239> fund<04
  • /c><04:02:36.160> voted<04:02:36.399> on trust trust fund money is voted on trust trust
  • Um, the way Representative Colcombe has discussed the trust, that's exactly how trust funds work.
  • You can't do that with trust funds. You know, trust funds are for specific purposes.
Keywords: 1189, house, all
NH

New Hampshire 2026 Regular Session

Senate Finance (02/10/2026)

Finance

Transcript Highlights:
  • <00:11:13.839> yourselves, trust yourselves, trust yourselves, I<00:11:15.600> will<00:
  • undemocratic wouldn't by not trusting undemocratic wouldn't by not trusting our<00:11:49.600>
  • Health Trust.
  • Trust compared to the commercial market. Trust compared to the commercial market.
  • trust for decades. trust for decades.
Keywords: 1191, senate, all
MN

Minnesota 2025-2026 Regular Session

Suspend House Rules to take up HF3412 3/2/26

Minnesota House Floor Meeting

Transcript Highlights:
  • Law enforcement is about public trust, and we have lost the public trust when we are wearing masks. constituents
  • trust, it is not acceptable. trust, it is not acceptable.
  • . trusting. trusting.
  • No, this is about preserving trust No, this is about preserving trust and<00:16:24.320> delivering
  • Anonymity erodes trust. It promotes fear.
Keywords: 1183, house
Summary: The House took up a motion to suspend the rules and recall House File 3412 from the Committee on Public Safety, Finance, and Policy so it could receive second and third readings and be placed on final passage. The bill, authored by Representative Finnegan, would prohibit law enforcement officers in Minnesota, including local, state, and federal agents, from wearing masks while on duty, with limited exceptions. Supporters argued the measure would increase transparency, accountability, and public trust, and said masked officers create fear and resemble “secret police,” especially in the context of recent immigration enforcement actions. They also said the state has authority to regulate this area and that the bill would not interfere with essential law enforcement duties. Opponents said the bill was poorly written, unnecessary, and politically motivated, and argued that current and pending laws already address officer identification and badge numbers. Representative Nathe said the bill would allow protesters or rioters to wear masks while restricting law enforcement, and urged a no vote. Representative Roach said the term “secret police” was a made-up political phrase and defended masked ICE agents as necessary for officer safety because they deal with dangerous criminals and could be doxed or targeted. Several members spoke in favor of the motion, including Representatives Curran, Sencer-Mura, and Pinto, who emphasized the importance of public trust and shared personal stories about children, family experiences, and encounters with masked federal agents. They described immigration enforcement incidents involving children and families as frightening and said officers should be identifiable when interacting with the public. The debate included a brief exchange between Representatives Pinto and Roach about whether masked law enforcement should be considered “secret police.” The transcript ends during that discussion and does not include the final vote or disposition of the motion.
NH

New Hampshire 2025 Regular Session

Senate Ways and Means (04/16/2025)

Ways and Means

Transcript Highlights:
  • trust is a qualifying trust under this? trust is a qualifying trust under this?
  • trust.
  • A revocable trust and then there's a permanent trust, or an irrevocable trust.
  • trust.
  • trust.
Keywords: 1191, senate, all
FL
Transcript Highlights:
  • CARE TRUST FUND.
  • AND $1,231,307,005 IN THE MEDICAL IN GRANTS DONATIONS TRUST FUND.
  • AND $1,231,307,005 IN THE MEDICAL CARE TRUST FUND TO SUPPORT THE PAYMENTS. >> Rep.
  • MEDICAL CARE TRUST FUND TO SUPPORT THE DISTRIBUTION OF THESE PAYMENTS.
  • AND 13,873,898 IN THE MEDICAL CARE TRUST FUND.
Keywords: 999, senate, all
AR

Arkansas 2026 1st Special Session

ALC-PEER Feb 17th, 2026

ALC-PEER

Transcript Highlights:
  • Back to the Budget Stabilization Trust Fund for that.
  • I want to talk about the Medicaid trust fund. I guess that's I-6.
  • Medicaid trust fund, we passed this legislation to try to at least keep a grasp of where we were.
  • She asked whether those factors are being considered in the trust fund projections.
  • So the Medicaid trust fund is a compilation of many different funds.
Summary: The committee considered several appropriation and transfer requests, beginning with a $273,000 temporary appropriation for the Department of Labor and Licensing to cover administrative costs for its enterprise licensing platform, funded by license and application fees. It then reviewed two large Infrastructure Investment and Jobs Act requests: $280 million for the Department of Transportation for the final quarter of the fiscal year, and $195 million for the State Broadband Office to support the Arkansas BEAD broadband grant program, including an extra help position and grants to internet service providers. The broadband item drew extensive questions about awardees, contract amendments, accountability, build-out timelines, backup plans if providers default, the definition of broadband serviceable locations, and the cost per location. The State Broadband Director said no providers had requested amendments, the program would use milestone-based disbursements and a four-year build-out period, and the first tranche would serve 51,566 homes and businesses with $126.1 million in grants. Both Section B and Section C items were approved. In Section D, the committee approved a $458,000 transfer within the Department of Correction from the female work release program to the Tucker Unit water treatment plant, a $25 million transfer within the Department of Education to cover declining enrollment, teacher incentive, school recognition, and Easter Seals funding, and a $229,000 transfer for the Department of Shared Administrative Services to support two project management office positions. The education transfer prompted questions about how declining enrollment funding is calculated, how many districts receive it, and how long districts can continue to receive it; agency staff said 152 districts were on the preliminary list and the formula is based on the prior two-year average ADM compared with the previous year. The committee also gave favorable advice on a proposed $4.7 million loan for the Office of State Technology to implement ServiceNow and related IT modernization tools; agency officials said the loan would be repaid through cost recovery rates over five years and would replace an existing loan that is ending, with expected savings from consolidating applications but no precise savings estimate yet. The committee then reviewed cash fund and federal grant requests, including $200,000 for wage and hour claimant payments, $15 million for unclaimed property claims, $8,000 for a heritage program grant, and $1.1 million for a College and Career Coaches grant to expand services in rural districts. It also reviewed pay plan and budget manual items without objection. The most extensive report discussion focused on the Medicaid trust fund, where DHS and DFA officials said the balance has been declining and that the state may need to add capital back into the fund. Senators and representatives asked about the current balance, the projected year-end level, the role of the $100 million set-aside, the impact of outstanding Medicaid rules from the prior session, and whether future federal funding could help reduce long-term Medicaid costs. Officials said they are still working through more than 10 outstanding rules with CMS and do not yet have a final price tag for those changes. The meeting ended after the reports were reviewed and the committee adjourned.
VA
Transcript Highlights:
  • Pool taxes may be offset by interest earned on the trust fund.
  • That the trust fund balance does not get too low. It kicks in before we get there.
  • Now, I invoked the unemployment trust fund. The unemployment trust fund is administered by the VEC.
  • VEC routinely monitors the balance of the trust fund.
  • There was an infusion of cash, one-time funding, that was put into the trust fund.
MN

Minnesota 2025-2026 Regular Session

Committee on Education Policy - 04/30/26

Education Policy

Transcript Highlights:
  • <00:06:50.560> Land were looking to take School Trust Land were looking to take School Trust
  • million acres of School Trust and 1/2 million acres of School Trust Lands<00:07:18.960> that<00
  • Uh the school trust is an energy<00:08:07.320> intergenerational<00:08:08.440> trust.
  • That's how we plan out uh school trust That's how we plan out uh school trust land<00:08:25.120>
  • >> $100,000 and the school trust >> $100,000 and the school trust distribution<00:14
Keywords: 1187, senate, all
FL

Florida 2026 Regular Session

Senate in Session Feb 20th, 2026

Florida Senate Floor Meeting

Transcript Highlights:
  • So can you explain to us where we are on the Emergency Management Trust Fund?
  • and arbitration trust fund.
  • There is no current balance in the trust fund, and that is the bill, members.
  • and arbitration trust fund.
  • There is no current balance in the trust fund, and that is the bill, members. Other amendments?
Summary: The Senate began with prayer and the Pledge of Allegiance, then moved into floor consideration of the 2026-2027 budget. Appropriations Chair Hooper presented Senate Bill 2500, describing a $115 billion budget that reduces overall spending from the prior year, maintains reserves, and includes a 3% pay raise for state employees and 5% raises for state law enforcement, firefighters, correctional officers, and park rangers. Committee chairs then outlined major spending in their areas, including K-12 education, higher education, health and human services, criminal and civil justice, transportation/tourism/economic development, and environmental and agricultural programs. Highlights included increased funding for school scholarships and safety, workforce and university programs, Medicaid and child welfare, corrections operations, affordable housing, rural communities, Everglades and water quality projects, and infrastructure. Members then asked detailed questions about several budget items. Senators sought clarification on the Emergency Management Trust Fund, arts and cultural grants, Florida Forever land acquisition versus conservation easements, teacher salaries, charter school capital outlay funding, EASE grants, New College funding, DOC inmate counts and reimbursement, lottery staffing, concealed weapons licensing positions, election security funding, iBudget waiver support, ADAP funding, Medicaid hospital rate reductions, and scholarship and enrollment supplements in K-12 education. Chairs explained that some reductions reflected technical shifts or right-sizing, that some funds were being moved below the line for better tracking, and that several items—such as ADAP and corrections operations—would likely remain conference issues with the House. After questions, the Senate substituted House bills for the budget and implementing measures and adopted amendments placing the Senate language onto the House vehicles to prepare for conference. The chamber passed the budget-related bills and several conforming measures, including bills on retirement, fuel taxes, the state agency law enforcement radio system, court trust funds, judgeships, and K-12 and higher education conforming changes. Votes on the major bills were overwhelmingly unanimous or near-unanimous, and the Senate repeatedly voted to accede to the House’s request for conference on the substituted bills.
NH

New Hampshire 2025 Regular Session

House Finance (03/31/2025)

Transcript Highlights:
  • education trust education trust fund<03:26:56.120> so<03:26:56.319> the<03:26:56.479
  • into the uh education trust into the uh education trust fund<03:37:11.479> all<03:37:11.560
  • general fund and the education trust general fund and the education trust fund<03:42:38.040>
  • fund and part into the education trust fund and part into the education trust fund<03:46:35.399>
  • It's a request from the Education Trust Fund, and it's related to education trust fund and it's related
Keywords: 928, house, all
Summary: The Finance Committee met to review Division One of a very large budget package, with the chair explaining that the budget was being analyzed in three divisions over multiple days. Members first discussed procedure, including when amendments and line-item votes would be taken, and agreed to proceed with the division’s presentation before questions. Representative Maguire then outlined the division’s approach as a series of tradeoffs to close a large budget gap, emphasizing cuts, some revenue changes, and a focus on overall spending levels as well as individual reductions. The presentation covered a wide range of agencies and policy areas. Major proposed changes included cuts or eliminations to several boards and commissions viewed as costly or duplicative, such as the Housing Appeals Board, Board of Tax and Land Appeals, Human Rights Commission, Commission on Aging, Office of the Child Advocate, and the Personnel Appeals Board, with some functions consolidated into other boards. The division also proposed back-of-the-budget cuts to the Information Technology Department, Judicial Branch, Justice Department, Retirement System, Corrections, and Environmental Services, along with fee increases in several areas. Other notable items included ending marketing for Paid Family Leave, reducing job advertising and tourism promotion, defunding the Arts Council, moving liquor enforcement functions out of the Liquor Commission, and shifting some funds such as the College Savings Commission money to Division Two. Several members questioned specific cuts, especially the elimination of the Council on Aging, the reduction in regional planning commission grants, and the large cut to tourism advertising. Maguire defended the choices as necessary budget tradeoffs, arguing that some programs duplicated work done elsewhere, that regional planning grants were not among the most essential items, and that tourism promotion was a form of spending he viewed skeptically. He also explained that the public defender’s budget was partially restored after a credible claim of a governor’s budget error, and that the committee would continue refining corrections-related cuts because the House was only halfway through the budget process and further changes could still occur in the Senate and conference committee.
MN
Transcript Highlights:
  • You have to build trust with that.
  • <00:14:55.680> between relationship in building trust between relationship in building trust
  • I'll always trust my relationships. I'll always trust my relationships.
  • And also public trust.
  • >> um we got to learn to respect and trust >> um we got to learn to respect and trust
Keywords: 1187, senate, all
CO

Colorado 2026 Regular Session

Colorado House 2026 Legislative Day 118 May 12th, 2026

Colorado House Floor Meeting

Transcript Highlights:
  • in the cancer trust, while more than 200 are not in the trust at all.
  • trust are not interchangeable.
  • The trust continues to add members. The Cancer Trust delivers fast, reliable...
  • Either way is why the trust was created. I mean... is why the trust was created.
  • Trust... Trust benefits kick in upon a firefighter's diagnosis.
Keywords: 981, all
AR

Arkansas 2026 Regular Session

ALC-PEER Feb 17th, 2026

ALC-PEER

Transcript Highlights:
  • This is a budget stabilizing trust fund loan request.
  • This is a budget stabilizing trust fund loan request.
  • This is a budget stabilizing trust fund loan request.
  • So the Medicaid trust fund is a compilation of many different funds.
  • "If we need additional monies, that's when we use the trust fund.
Summary: The committee met with a quorum, opened with a prayer recognizing the death of Reverend Jesse Jackson, and then worked through a series of appropriation and transfer requests. In Section B, it approved a $273,000 temporary appropriation for the Department of Labor and Licensing. In Section C, it approved two Infrastructure Investment and Jobs Act requests: $280 million for the Department of Transportation and $195 million for the State Broadband Office to support Arkansas BEAD broadband grants, including an extra help position. Members questioned the broadband awards, provider amendments, buildout timelines, accountability, and the status of unawarded locations; the broadband director said no provider had requested speed changes, awards would be monitored with milestone-based payments, and remaining locations would be addressed later as federal guidance is received. The committee also approved transfers in Section D, including $458,000 for the Department of Correction, $25 million for Department of Education programs such as declining enrollment and teacher incentive funding, and $229,000 for Shared Administrative Services project management support. In Section E, the committee considered a $4.7 million budget stabilization trust fund loan for the Office of State Technology to implement ServiceNow and related IT modernization, cybersecurity, and governance tools. Members pressed agency officials on repayment, cost savings, and whether the loan would simply roll over existing costs; officials said repayment would come through agency rates over a five-year period and that the new payment would be lower than the current loan being retired. The committee voted to give favorable advice to the Governor on the loan request. In Section F, the committee reviewed cash fund requests for wage and hour claims, unclaimed property, and a heritage grant; in Section G, it reviewed a $1.1 million federal grant to expand college and career coaching in rural districts; in Section H, it reviewed pay plan and performance fund requests totaling millions across multiple agencies; and in Section I, it reviewed budget manual formatting changes. The latter part of the meeting focused on reports, especially the Medicaid trust fund. DHS and DFA officials reported the fund balance had declined from prior years and was down to about $394 million after seven months, with further decline expected by year-end. Senators and representatives asked about the appropriate reserve level, the impact of pending Medicaid rules and legislation, FMAP changes, and whether additional funding would be needed in the upcoming budget. Officials said projections are updated regularly, more than 10 rule packages remain pending with CMS, and the governor and legislative leaders will discuss additional capital needs during budget development. Members also discussed the importance of balancing Medicaid spending with new federal funding and maintaining flexibility for critical areas such as labor and delivery. The committee then adjourned without further action on the reports.
NM

New Mexico 2026 Regular Session

House - Commerce and Economic Development Feb 6th, 2026 at 04:18 pm

House Commerce & Economic Development Committee

Transcript Highlights:
  • Cecilia Rosacker, and she's with the Rio Grande Agricultural Land Trust.
  • The land trust will have to expand their capacity.
  • I'm a registered lobbyist for the Rio Grande Agricultural Land Trust.
  • I'm the conservation director with the Santa Fe Conservation Trust.
  • Mexico with the Taos Land Trust.
Bills: HB186, HB92, HJM1
VA
Transcript Highlights:
  • Pool taxes may be offset by interest earned on the trust fund.
  • That the trust fund balance does not get too low. It kicks in before we get there.
  • Now, I invoked the unemployment trust fund. The unemployment trust fund is administered by the VEC.
  • VEC routinely monitors the balance of the trust fund.
  • There was an infusion of one-time funding that was put into the trust fund.
Summary: The Commission on Unemployment Compensation met, established a quorum, and elected Delegate Destiny LeVere Bolling as chair and Senator Mike Jones as vice chair. The commission also adopted its electronic meeting policy and heard introductions from new members, staff, and officials from the Secretary of Labor’s office and the Virginia Employment Commission (VEC). Secretary Jessica Lumen outlined the administration’s workforce and labor priorities, including supporting workers, employers, and program transparency, while members raised concerns about business climate, job losses, labor participation, and the implementation of paid family and medical leave. Staff provided legislative updates on recent unemployment-related bills. These included increases to the weekly unemployment benefit amount enacted in 2025 and 2026, a bill on labor dispute disqualification that changed how lockouts are treated for benefit eligibility, and a budget item providing $75,000 for actuarial support to the commission. The commission also discussed the 2025 work group on annual adjustments to weekly benefit amounts; staff reported that the work group did not complete its charge, and members agreed to revisit whether to reconstitute it at a future meeting. Delegate Martinez expressed support for continuing the work, and the chair said the issue would be taken up at the next meeting. Deputy Commissioner Joanna Darkus gave a detailed presentation on Virginia’s unemployment insurance system, including current claims data, eligibility rules, employer tax structure, benefit levels, trust fund solvency, fraud prevention, and customer service operations. She reported that Virginia’s unemployment rate remains low, weekly claims are modest, the current weekly benefit range is $160 to $478, and the trust fund balance factor is projected at 50.9 percent, near the threshold for additional employer charges. Members asked about the taxable wage base, trust fund solvency, the effect of benefit increases, fraud controls, and the planned paid family and medical leave program. VEC said it is implementing that program through regulations, staffing, IT procurement, public listening sessions, and consultation with other states. A public commenter from the Virginia Poverty Law Center urged the commission to strengthen state investment in unemployment insurance and warned that federal support is uncertain. The commission then adjourned without taking further action.
NM

New Mexico 2026 Regular Session

Senate - Conservation Feb 14th, 2026 at 09:07 am

Senate Conservation

Transcript Highlights:
  • So, HB 109 removes the need for the legislature to authorize water trust for...
  • The Water Trust Board of... Right.
  • Back in 2017, our distribution to the Water Trust Board was zero.
  • The Water Trust Board currently opens its applications in July.
  • I trust the judgment of the board.
Keywords: 996, all
WA

Washington 2025-2026 Regular Session

House Environment & Energy May 18th, 2026

Transcript Highlights:
  • So we could lease out state trust land and bring that revenue to trust beneficiaries.
  • So we could lease out state trust land and bring that revenue to trust beneficiaries.
  • fair market value for trust beneficiaries, as well as to consider the highest and best use of trust
  • If there are projects adjacent to those trust lands, it has implications for those trust lands and also
  • the trust pore space.
Summary: The committee held an interim work session focused first on carbon capture, utilization, and sequestration (CCUS), then on hazardous waste and extended producer responsibility (EPR). On the CCUS topic, industry and nonprofit presenters described point-source capture, direct air capture, mineralization, and geologic sequestration, emphasizing Washington’s basalt formations and state trust lands as strong candidates for storage. They argued that CCUS can help hard-to-abate industrial sectors, support jobs and investment, and provide a pathway for compliance, while also noting the need for clearer permitting, subsurface rights, pipeline authority, and storage infrastructure. Ecology and Commerce staff explained current state policy touchpoints, including Cap-and-Invest offsets and exemptions for permanently stored CO2, the public comment process underway to define “thousand-year” permanence, and how CCUS might fit within the Clean Energy Transformation Act without counting emitting generation as non-emitting. Some presenters supported more state action and primacy over federal permitting, while others warned about costs, energy use, uncertain capture performance, and the need to ensure real net greenhouse gas reductions and long-term liability protections. Members asked about public meetings, whether mineralized carbon would qualify as exempt under the Climate Commitment Act, the timeline for Ecology guidance, aquifer and water-quality concerns, energy intensity of capture systems, and liability if storage later proves problematic. Responses said Ecology’s guidance process is already underway, public meetings will be virtual, mineralized carbon would likely qualify if it meets the permanence standard, and EPA rules require storage in deep saline formations below drinking water aquifers. Industry speakers said capture energy use varies by source and concentration, and one presenter noted that some states use trust funds funded by injectors to address long-term liability. The second half of the session shifted to hazardous waste and EPR. Ecology staff reviewed existing product stewardship programs for electronics, paint, batteries, and mercury lights, and described moderate risk waste and household hazardous waste management in Washington. They highlighted that E-Cycle and PaintCare are producer-funded, that the battery stewardship program will begin in 2027, and that the mercury lamp program is in transition after its prior stewardship organization exited, prompting enforcement notices and a pending replacement plan. Ecology recommended best practices for future EPR programs, including clear producer and product definitions, full producer funding, convenience standards, annual reporting, and strong agency enforcement and plan approval authority. Local government speakers from King County and Douglas County described rising collection costs, equity and access barriers, rural travel distances, and the need for stable funding and flexible local implementation. King County said it collected over 3 million pounds of hazardous products in 2025 and supports EPR as a way to shift costs from ratepayers to producers, while Douglas County emphasized that rural residents will participate when services are accessible and that future systems should account for geography and local infrastructure.
UT

Utah 2025 Regular Session

Business and Labor Interim Committee - November 19, 2025

Business and Labor Interim Committee

Transcript Highlights:
  • So I trust you implicitly. Can you... ...Mr. Steinagle, so I trust you implicitly.
  • definition of trust business.
  • A trust company. Okay.
  • other than their trust fees.
  • be the manager of the trust.
Keywords: 985, all
NH

New Hampshire 2025 Regular Session

House Finance Division II (03/24/2025)

Transcript Highlights:
  • <03:43:07.840> fund, on adequate not just in the trust fund, on adequate not just in the trust
  • in the trust fund. Okay. in the trust fund. Okay.
  • trust fund, in the trust fund, out of the trust fund, in the trust fund, out of the trust fund.
  • trust fund, in the trust fund, out of the trust fund, in the trust fund, out of the trust fund.
  • <04:21:13.760> fund the remaining education trust fund the remaining education trust fund
Keywords: 928, house, all
Summary: The committee met with Lottery Director Charlie McIntyre and Charitable Gaming Chief Compliance Officer Kulie Aoyo to review proposed changes in HB 2 and related amendments affecting video lottery terminals, historic horse racing, charitable gaming, and scratch tickets. McIntyre said the late-arriving amendment made revenue estimates difficult, especially because the bill would allow operators to decide when to convert from HHR to VLTs and would change the floor-space rules. He explained that the existing 70/30 floor-space split between machines and table games was negotiated to protect charity revenue, and warned that moving to a 90/10 split could reduce charity revenue, potentially by as much as $17 million, while also changing the character of the facilities. Committee members discussed whether to keep the 70/30 split, and McIntyre said he could provide updated estimates later that day, including net impacts after any offsetting gains or losses under current law. Members also asked about the governor’s proposed operator share versus the Sweeney amendment’s higher operator share. McIntyre said the governor’s 45% figure was based on his own estimate and on comparable rates in other states, and he supported it as a way to maximize revenue for the state and charities. He also described a change to high-stakes tournaments: after speaking with Rep. Sweeney, he said the amendment was clarified to apply only to those tournaments and would lower the house take from 10% to 5% to encourage participation in rare, high-buy-in events. The committee also discussed a separate proposal to raise the maximum scratch ticket price from $30 to $50; McIntyre said the change would take time to implement, would likely increase net state revenue by about $1 million in year two, and was consistent with pricing in neighboring states such as Massachusetts and Connecticut. Additional questions covered sports betting and a separate Kino-related estimate. McIntyre said March Madness is the busiest period for sports betting and that the state’s sports betting revenue has exceeded initial expectations. He also said he had estimated that removing a municipal-vote restriction for Kino could cost about $12 million total, with $2 million in the first year and $10 million thereafter. No formal votes were taken during the discussion; the chair indicated the committee would revisit the VLT amendment and other sections later, and McIntyre agreed to send updated revenue estimates to committee members.