Transcript Highlights:

• a different cost.
• Well, for cost of living, different costs of living from different states.
• Right, the overall costs, I think, to your point, do vary, and California tends to have higher costs
• We haven't done an analysis to say.
• We're trying to measure what are the costs associated with operating schools, not necessarily the costs

Keywords: 988, house, all

Transcript Highlights:

• .<00:04:26.600> The costs.
• The costs.
• This this is no cost to the taxpayers.
• that the exercise had had the analysis that the exercise had had the analysis concluded<00:53:49.040
• But, all assets in analysis to this.

Keywords: 1187, senate, all

Transcript Highlights:

• I appreciate the analysis of the points. There is no state fiscal cost.
• You know, the committee analysis obviously identified state costs. Thank you.
• You know, the committee analysis obviously identified state costs that normally would result in the committee
• Health care costs are the biggest barrier for consumers accessing care, and those costs lead to worse
• The costs are negligible.

Summary: The Assembly Appropriations Committee met on May 7, 2025, considering a large number of bills, with several measures heard in detail before the committee moved through consent and suspense items. Early in the hearing, AB 876 by Assemblymember Flora was heard on CRNA scope of practice and anesthesia access. Supporters said it would clarify that certified registered nurse anesthetists may provide anesthesia services independently, while opponents from physician and medical groups argued that anesthesiologists and CRNAs are not interchangeable and that physician-led care is needed for patient safety. The bill was ultimately voted out, with a later vote change recorded for Mr. Tangipa from not voting to aye. The committee also heard AB 379, a major human trafficking and child exploitation bill, which would expand penalties for solicitation of a minor, create a misdemeanor for loitering with intent to purchase commercial sex, increase fines on businesses that fail to post trafficking notices or knowingly allow trafficking, create a survivor support grant program, and establish a vertical prosecution grant program. The bill drew strong support from the author and some members who emphasized tougher enforcement and victim services, but also significant opposition from sex worker and civil liberties advocates who argued the bill would worsen criminalization, disproportionately harm Black and Brown communities, and fail to address housing and other root causes. After extensive discussion, the committee voted the bill out, with one member later changing from not voting to aye. Other bills heard included AB 435 on child passenger safety, which would adopt a five-step test and update booster-seat and front-seat rules; AB 1415, which would give the Office of Health Care Affordability more access to information from health systems and private equity-related entities; AB 539, the Timely Care Act, which would extend the duration of approved prior authorizations for treatment; AB 1466, relating to groundwater adjudication and sustainability disputes; AB 127, which would tie the cap-and-trade price ceiling to the social cost of carbon; and AB 672, which would require public employers to notify PERB of certain court actions and allow intervention to protect labor rights. The committee also approved a large consent calendar and then deemed the suspense calendar approved, sending many bills onward. The hearing concluded with several bills reported out, some on call, and the committee adjourned.

Transcript Highlights:

• A consumer's premium is that cost times the number of bricks they need to replace their home.
• This just gives an analysis as a result of an analysis of what the rates have looked like over the past
• is the cost per brick of insurance to explain it is the cost is the cost per brick of insurance a consumer's
• One of the largest cost drivers is reinsurance.
• an unmitigated home's cost of insurance looked like versus a completely mitigated home.

Summary: The Senate Committee on Banking and Insurance convened with a quorum present, and Commissioner Michael Yaworsky of the Office of Insurance Regulation delivered a broad update on Florida’s property insurance market. He outlined the division of responsibilities between OIR and the Department of Financial Services, then reported market indicators including 7.61 million residential policies in force, an average premium of $2,755, 1.5 million Citizens takeout approvals, and recent negative trends in homeowners rate requests. He credited recent legislative reforms, especially tort reform and the Insurer Accountability Act, with improving market stability, increasing competition, and allowing the office to conduct more examinations and investigations, recover consumer restitution, and fine insurers for misconduct tied to recent hurricanes. Yaworsky emphasized that Citizens Property Insurance has been rapidly depopulating from its 2022 peak and may fall below 300,000 policies, while cautioning that over-depopulation could create residual-market risks and assessments if a major storm hits. He also discussed the distinction between admitted and surplus lines markets, the role of reinsurance in Florida pricing, and the effect of inflation on total insured values and premiums. He said Florida has seen comparatively modest property rate increases relative to other states and noted that recent hurricanes did not produce the kind of rate spikes seen in prior years, which he attributed to a more stable market and reduced fraud and litigation pressure. In response to a question from Senator Martin, Yaworsky explained that California’s wildfire crisis and regulatory structure are not a direct one-to-one comparison for Florida, but that California’s market problems can affect global reinsurance capacity and serve as a cautionary example of regulatory missteps. He also highlighted a recent Progressive auto insurance excess-profits refund of about $1 billion to policyholders, discussed possible federal changes to the National Flood Insurance Program, and urged greater home resiliency and code-plus adoption. The commissioner closed by calling for clearer consumer disclosures and responsible oversight of AI use in insurance filings. No bills were considered and no votes were taken; Senator Hooper moved to adjourn, and the committee adjourned without objection.

Transcript Highlights:

• In the cost and utilization of the Medicaid behavioral health.
• Care services are being provided at higher costs.
• Table 4 shows that telehealth cost and utilization is down.
• On behavioral health, the cost associated with the applied behavior analysis treatments or therapies
• I understand that we're focused on the cost of ABA.

Transcript Highlights:

• <00:17:34.960> of the actual cost of the actual cost of claims<00:17:37.520> they<00
• industry there are many different costs industry there are many different costs that<00:36:11.480
• this is an analysis of contingency or this is an analysis of what's<00:47:18.480> needed<00:47
• bill after the Senate bill that analysis bill after the Senate bill that analysis is<00:51:04.799
• <01:07:20.520> uh own act independent actes analysis uh own act independent actes analysis

Keywords: 1191, senate, all

Transcript Highlights:

• <00:09:40.440> within<00:09:40.680> the sort of an analysis within the sort of an analysis
• <00:29:34.560> to of buses, um and there's no cost to of buses, um and there's no cost to
• Um the there's no cost to the agency.
• ride costs in an AV? ride costs in an AV? Representative<01:15:20.400> Sencerbox.
• Further analysis is needed to determine Further analysis is needed to determine the<01:43:54.760>

Bills: HF4062, HF4063, HF4065, HF3926, HF4216, HF3176, HF3728, HF3988, HF3865

Keywords: vehicle registration, title transfer, rental vehicles, state regulations, motor vehicle laws, school buses, USDOT number, first aid kits, transportation safety, vehicle regulations, transit safety, assault penalties, public transportation, criminal justice, transit workers, transportation, railroad, safety, economic development, public roads

Transcript Highlights:

• But with that short of the true cost.
• <00:15:01.279> of rather addressing the full cost of rather addressing the full cost of education
• cost and the stress on those parents. cost and the stress on those parents.
• So since, you know, that has a cost.
• So that's just sorry of the cost.

Keywords: 919, house, all

Summary: The Higher Education Conference Committee reviewed differences among the Governor’s, House, and Senate proposals for state grant parameter changes and their effects on state grant spending, North Star Promise spending, and average student awards. Nonpartisan staff explained that the proposals use different combinations of parameter changes, with the Governor’s and Senate plans modeled to avoid or minimize rationing, while the House plan would require rationing to balance the program. Staff reported projected biennium balances of a positive $29.836 million for the Governor’s proposal, a negative $60.758 million for the House proposal without rationing, a positive $994,000 for the House proposal with rationing, and a positive $3.623 million for the Senate proposal; North Star Promise balances also varied, with the Senate showing a positive balance and the Governor and House with rationing showing negative balances. Staff also said the Senate proposal would extend availability of the state grant appropriation and suspend surplus procedures through fiscal year 2029, allowing the balance to carry forward. The committee then focused on the House-only tuition and fee cap provision, which would limit the tuition recognized for state grant purposes for four-year programs to the University of Minnesota Twin Cities level, with 1% annual increases in fiscal years 2026 and 2027. House members said the cap was intended to address rising tuition, especially at the University of Minnesota, and to produce savings in the state grant program. The governor’s office confirmed the provision was not included in the Governor’s bill. Representatives from the University of Minnesota and the Minnesota Private College Council opposed the cap, arguing it would reduce awards for low-income students and shift costs to students rather than address underlying tuition pressures; they also said it could discourage enrollment at higher-cost institutions. Supporters from Minnesota State argued the cap would improve fairness because students at lower-tuition institutions are effectively capped lower, while students at more expensive institutions receive larger awards, and they said the legislature should intervene in a variable that has grown substantially over time. Committee members questioned how the cap would work and whether it was tied to the Twin Cities campus rate. Testifiers clarified that the state grant formula is tied to the University of Minnesota level, but because Minnesota State institutions are below that level, the cap effectively limits their students to their own lower tuition while allowing higher awards at the University of Minnesota and private colleges. No formal vote or final action was taken in the portion of the meeting provided; the chair indicated the committee would continue with item-by-item review of the remaining parameter changes and hear additional testimony from agencies and institutions.

Transcript Highlights:

• increased costs.
• increased costs.
• The SMART 3.0 program reverses that course by relying on annual analysis of the cost drivers of solar
• is the cost without red tape.
• costs.

Keywords: 995, all

Summary: The hearing focused on ways Massachusetts can accelerate solar deployment, lower costs, and preserve reliability as electricity demand rises and federal support for solar and other renewables changes. Chair Creem opened by emphasizing solar’s role in meeting climate mandates and peak demand, citing June heat-wave data showing behind-the-meter solar reduced wholesale prices and saved ratepayers money. Commissioner Elizabeth Mahoney of DOER said Massachusetts has grown from 3 MW of solar in 2008 to 3.5 GW today, highlighted SMART 3.0 as a flexible, evergreen incentive program, and said DOER is working on updated rates, interconnection reforms, flexible interconnection, net crediting, and a petition to the DPU to speed implementation. She also said Massachusetts joined the lawsuit over canceled federal Solar for All funding. Committee members and witnesses discussed several policy changes to speed projects before federal tax credits expire, including automated permitting, remote inspections, faster interconnection, and changes to caps on municipal and regional solar development. Senator Barrett pressed Mahoney on whether the 10 MW municipal cap and regional caps should be lifted, and on whether the state should increase its solar tax credit to offset the loss of the federal residential credit. Mahoney said the municipal cap should be revisited and that interconnection cost allocation and other market issues need to be worked out before lifting broader caps. She also said DOER is open to automated permitting and is already developing a permitting portal under the 2024 climate law. Industry and advocacy witnesses largely supported streamlining measures. Sunrun’s Bronte Payne urged removal of a proposed requirement that all net-metered facilities enroll in SMART, and recommended automated permitting, remote inspections, flexible interconnection, better hosting-capacity information, consumer protections, and continued support for Connected Solutions and virtual power plants. Permit Power’s Hannah Bernbaum and Solar App’s Matthew McAllister argued that smart permitting and remote inspections can significantly reduce soft costs and delays, with McAllister saying Solar App now operates in over 320 jurisdictions and saves about three weeks on average. They said remote inspections are already common and can be done safely with photos, video, and qualified third parties. Community solar and clean energy advocates, including CCSA’s Kate Daniel and Vote Solar’s Lindsay Griffin, supported a 10 GW solar target by 2035, a higher refundable state tax credit for low-income households, interconnection reforms, flexible interconnection, and preserving the option to build outside SMART so projects can retain renewable energy certificates. No votes were taken; the hearing was informational, and members requested follow-up materials and draft language from witnesses.

Transcript Highlights:

• But the cost of care, by the state's current estimates, is saying that cost of care estimate is below
• My costs are higher than subsidy rates, but now families cannot pay this additional cost.
• You got a summary of that analysis.
• services and true cost drivers.
• Like how much would that cost?

Summary: The committee heard an extensive Department of Social Services presentation on child care budget issues, including the Governor’s proposed 2026-27 budget, federal CCDF changes, Prop. 64 revenue adjustments, and a one-time $11.5 million disaster-related infrastructure grant for licensed child care facilities affected by 2025 declared disasters. DSS said federal formula updates and lower Prop. 64 revenues would reduce funding and could result in about 4,176 CCTR slots being reduced, but the department said it was working to avoid impacts to currently enrolled children. The LAO supported aligning general child care funding with lower revenues and asked for more detail on the disaster grant. Members pressed DSS and Finance on why reductions were not being backfilled and why so many awarded slots remain uncontracted or unused; DSS said delays are largely due to providers building new infrastructure, licensing, staffing, and enrollment challenges, and that some unspent funds revert to the General Fund. The committee also discussed whether some contract dollars should be shifted to vouchers and whether more flexibility should be allowed for infrastructure and expansion costs. A second panel focused on the state’s commitment to expand child care and on rate reform. DSS reported that nearly 125,000 new slots have been awarded since 2021-22, but speakers from Stanislaus County Office of Education, Parent Voices California, and the California Budget and Policy Center argued that unmet need remains large and that the system still leaves many families without access. Stanislaus County described a large local shortage of infant and toddler care and said reimbursement disparities between child care programs and state preschool create disincentives for providers. Parent Voices gave testimony about the burdens and instability families face when trying to access care, especially for survivors and low-income parents, and called for a universal, publicly funded system. The Budget Center said only about 16% of eligible children were enrolled in 2024, urged expansion across the mixed delivery system rather than concentrating investment in TK, and called for faster rate reform and new revenue. LAO estimated that bringing certain CCTR adjustment factors up to CSPP levels would cost $88 million to $131 million ongoing. Members and witnesses discussed the single rate structure, automation needs, and the need for deadlines and a ramp-up plan; DSS said the goal is to eliminate disparities, but that policy decisions are still needed before automation can proceed. The committee then reviewed several trailer bill proposals. DSS outlined a 2026-27 COLA proposal that would apply a 2.41% increase through cost-of-care-plus payments, though the department said it had inadvertently excluded CalWORKs Child Care and the Emergency Child Care Bridge Program and would revise the proposal; LAO recommended making the COLA methodology uniform across programs. DSS also proposed replacing the market rate survey with the federally approved alternative methodology on a triennial schedule, limiting temporary absences in family child care homes to 20% of monthly hours, defining excessive unexplained absences as more than 30 days in a year, and aligning family fee deductions with new federal requirements so providers receive the full voucher value. Members generally supported the temporary absence change and asked about implementation timing for the family fee deduction, with DSS saying it was in contact with Riverside County. The committee also heard a brief update on the Early Childhood Policy Council reappropriation, which would extend unused funds through June 30, 2028 because prior costs came in higher than expected.

Transcript Highlights:

• Can you explain to what extent you've done any analysis on?
• might be raising the cost of TNC.
• Is the cost of insurance.
• Just, yeah, what are your general cost drivers?
• until recently we've been seeing the cost go up.

Keywords: 988, house, all

Transcript Highlights:

• The CERC itself provided for a cost estimate initially of about $3,100 per acre was the expected cost
• analysis for the cost?
• analysis for the cost?
• And so what we did do was construction costs and cost projections for the cost that were already meted
• Payton's position about the cost of housing being tied to the cost of land.

Summary: The Joint Administrative Procedures Committee met on February 3, 2025, with a quorum present and took up three main items. First, the committee considered a large set of recommended objections to Agency for Health Care Administration rules, all centered on sunset provisions stating the rules would expire after five years. AHCA asked for another deferral while it reviewed the rules, arguing the sunset language was a form of self-restraint rather than an invalid exercise of rulemaking authority. Committee leadership disagreed that further delay would resolve the issue and moved to a single vote covering all objections. The motion passed by roll call, and the committee informed AHCA that an objection would be filed unless the agency amended the rules within 30 days. The committee then heard an informational briefing from the Department of Environmental Protection on its Outstanding Florida Springs rule and stormwater rule. DEP explained that it did not prepare a statement of estimated regulatory cost for the springs rule because the proposed standards largely mirror existing water management district rules and the Central Florida Water Initiative framework, so DEP said there was no new regulatory burden. Members asked about permit authority, costs, and whether the rules were functionally different from prior rules. DEP maintained the rules set minimum standards and did not add costs beyond what regulated parties were already doing. DEP also described implementation of the stormwater rule adopted under the 2020 Clean Waterways Act and later ratified by the Legislature in 2024. DEP said the rule was the product of years of workshops and technical advisory committee meetings, and that the final version included lower-cost alternatives, grandfathering, and phased implementation. DEP estimated the rule’s cost at about $2,600 per acre in the revised CERC, while industry witnesses said the real cost could be much higher, especially if land costs are included. A home builders representative argued the estimate understated impacts, while a stormwater engineer said the rule gives more flexible, performance-based tools and could become more cost-effective over time. Finally, Senator Graal presented proposed Chapter 120 changes in SB 108, aimed at tightening and modernizing rulemaking. The proposal would require five-year rule reviews, annual agency reporting, faster notice of proposed rulemaking after authorizing legislation, electronic filing, public access to incorporated materials, clearer tracking of technical changes, and limits on how long rules can remain pending ratification. Members discussed whether the Legislature should be more specific in statutes about rulemaking deadlines and whether agencies should be more accountable when rules stall. No formal action was taken on the Chapter 120 proposals, and the committee adjourned after discussion.

Transcript Highlights:

• This is a new original contract for lithium supply chain analysis.
• Is there an annual cost analysis or anything? Who would do that?
• Not a small amount, but the cost of aircraft and maintenance per year.
• Not a small amount, but the cost of aircraft and maintenance per year.
• We came up with kind of a cost per hour with per aircraft.

Keywords: 1204, all

Transcript Highlights:

• If we have a sunrise analysis for additional mammograms, would that comply with 45?
• Would that prevent us from having to defray the cost of additional screening?
• Would that prevent us from having to defray the cost of additional screening?
• analysis if we have a sunrise analysis analysis if we have a sunrise analysis for<00:29:48.120><
• of additional screening the the cost of additional screening the sunrise<00:30:06.760> analysis

Keywords: 912, senate, all

Summary: The committee opened its first hearing of the 2025 session with procedural instructions about testimony limits, Zoom participation, written testimony, and a reconvening date if needed. It then heard SB 200 on speedy trials. The Office of the Public Defender opposed the bill, arguing it could create conflicts of interest for prosecutors, potentially make victims or witnesses quasi-parties to criminal cases, force traumatizing testimony on continuance motions, and unfairly delay trials for in-custody defendants. A World Care representative supported the bill and urged broader protections for minors, disabled people, and seniors. The chair also pressed the public defender to suggest improvements, emphasizing that the bill was driven by victims and families. No vote or final action was taken on SB 200. The committee next took up SB 8 on jury duty exemptions for health professionals. Testimony was strongly supportive from nurses, physicians, and disability advocates, who said APRNs and other nurses are in short supply and that jury service can disrupt patient care, especially in rural and neighbor island areas. One witness suggested expanding the exemption to include registered nurses as well as APRNs, while a senator raised concerns about blanket exemptions for non-practicing APRNs and suggested a time limit. The bill remained under discussion with no final action reported. The committee then heard SB 144 on chiropractic, with the state chiropractic board offering comments and the Hawaii State Chiropractic Association supporting the measure as a way to address workforce shortages and provide students more hands-on clinical experience. A World Care witness also supported the bill after clarifying her remarks. The chair then moved to SB 107 on medical informed consent, where the Hawaii Medical Board opposed the bill and the Healthcare Association of Hawaii and Queen’s Health System offered comments, citing concerns about duplicative standards. A support witness proposed expanding the bill to better address combined mental and physical health conditions. Finally, SB 189 on breast cancer screening drew support from the Hawaii Medical Association, Hawaii Radiological Society, Queen’s Health Systems, and others, while the Insurance Division raised concerns about possible insurance mandate defrayment and the need for a sunrise analysis. Senators also asked about local demographic data and coverage impacts; the chair indicated decision-making would be deferred to another day.

Transcript Highlights:

• department for the administrative costs. department for the administrative costs.
• The council is also directed to submit the analysis to the legislature by January 15, 2026.
• So this section directs MnDOT to enter into an agreement for analysis.
• So this section directs MnDOT to enter into an agreement for analysis.
• So this section directs MnDOT to enter into an agreement for analysis.

Bills: HF2438

Keywords: transportation finance, transportation policy, MnDOT, Minnesota Department of Transportation, Department of Public Safety, Metropolitan Council, highway funding, trunk highway fund, county state-aid highway fund, municipal state-aid street fund, state aid roads, local roads, bridge funding, road construction, transit funding, passenger rail, freight rail, aviation, airport development, safe routes to school

Transcript Highlights:

• analysis.
• Some are doing cost versus revenue analysis.
• I know some are doing unit cost analysis at the departmental level, and again, creating data...
• I know some are doing unit cost analysis at the departmental level, and again, creating dashboards and
• programs, low-cost programs... ...through that FTE number account for high-cost programs, low-cost programs

Summary: The Higher Ed Funding Committee met to review how North Dakota might identify and address low-producing academic programs and to discuss draft funding formulas for the university system. Lisa Johnson of the NDUS explained that the State Board of Higher Education is already developing a system-wide policy, using models from other states such as Texas, Virginia, North Carolina, Colorado, Kentucky, Ohio, and Connecticut. She described how low-producing programs are typically flagged by multi-year enrollment or completion thresholds, then reviewed for workforce demand, mission fit, cost, accreditation, and regional need before any action is taken. Committee members asked about what counts as a program, how costs are analyzed, whether certificates are included, how exemptions work for mission-critical or high-demand fields, and whether the board or legislature should set the rules. Johnson said the board is the appropriate body to lead the process, but legislators could use funding leverage if they wanted to encourage action; the chair asked the board to bring a detailed proposal to the June meeting. The committee then heard a Legislative Council presentation on a draft formula for UND and NDSU. The proposal uses fall census FTE enrollment, with a placeholder undergraduate rate of $7,000 per FTE and a graduate/professional rate of $10,500, plus incentives for completions in in-demand fields and research productivity. Alex from Legislative Council walked through the projected funding effects, noting that the model would increase funding for NDSU and reduce it for UND in the current biennium, with different results in the next biennium as enrollment changes are recognized. Members questioned the use of the placeholder rates, the definition of in-demand programs, the treatment of research funding, and the exclusion of state-appropriated dollars from the external grants calculation. The chair emphasized that the numbers were illustrative and that appropriators would set the actual dollar amounts later. A second draft formula for the other nine institutions was also reviewed. That model uses fall census FTE without a weighted economic factor, applies a higher undergraduate rate, and adds completion incentives for in-demand credentials and all other completions. Members noted that the formula would benefit some institutions, such as Bismarck State College, while reducing funding for others, such as Mayville State, and discussed whether the nine institutions should be treated more uniformly or split into smaller groups because of their different missions and sizes. Committee members and staff repeatedly stressed that the formulas are still being refined and that some institutions would likely need hold-harmless adjustments or other transition measures. The meeting ended with the chair directing the committee to continue the discussion later and to expect further work on both the low-producing program policy and the funding formulas.

Transcript Highlights:

• route analysis.
• by reducing cost. by reducing cost.
• So overhead costs and corresponding costs may vary.
• manage cost. manage cost.
• low cost per passenger. low cost per passenger.

Keywords: 919, house, all

Summary: The committee heard a Met Council report from Charles Carlson on high-subsidy transit route analysis required by the transportation bill. Carlson explained that the study uses per-passenger operating subsidy, compares routes by type and service day, and is intended to help providers improve cost-effectiveness while recognizing transit’s importance for access, affordability, safety, and the region’s economy. He noted that routes more than 60% above peer averages are considered the highest-subsidy tier, and that the report also estimates the cost of Metro Mobility associated with those routes. Members asked several questions about why contracted service can cost less than directly operated service, whether contracting affects wages, union membership, or service quality, and why the Met Council targets about 20% of regular route service for contracting. Carlson said contracted service can be cheaper because of lower overhead and other market factors, that the council sets minimum wage and service-quality requirements in contracts, and that customers should not notice a quality difference. He also said the 20% target is meant to balance cost-effective service, geography, and a mix of providers, and that some routes may become more cost-effective with more frequent service depending on local demand. Carlson reported that in 2024, 206 of 264 routes met guidelines, 16 were in the lowest intervention tier, 14 in the middle tier, and 28 were in the highest-subsidy tier. He said the regional share of high-subsidy service was about 4.1%, but the share varied widely by provider, with some at 0% and others much higher. He estimated that discontinuing the highest-subsidy routes would save about $23 million annually and up to $72 million in capital costs. For Metro Mobility, he said the cost associated with trips tied to high-subsidy routes rose from about $368,000 in 2023 to about $6.1 million in 2024, largely because the mix of routes triggering federally mandated paratransit service changed, especially in the Shakopee area.

Transcript Highlights:

• The full implementation cost of the program, or estimated full implementation cost.
• Yeah, the full implementation cost of the program, or estimated full implementation cost. Yes.
• Counsel, you've got your analysis.
• And I think cost-benefit analysis is first and foremost.
• We don't have any cost-benefit analysis.

Keywords: 908, all

Transcript Highlights:

• So the legislature directed us to study our cost share program. Is our cost share policy adequate?
• of cost-share policy.
• Cost share percentages.
• those costs for locals.
• All of our projects have to do a cost-benefit analysis and an economic analysis.

Keywords: 908, all

Transcript Highlights:

• Um, normal cost on the K side as well.
• <00:14:41.959> that, which has, um, a much lower cost that, which has, um, a much lower cost
• that bill, it was um an increased cost that bill, it was um an increased cost to<00:24:22.320>
• > actuary<00:24:34.200> GRS actuarial analysis, the actuary GRS actuarial analysis, the
• > said<00:24:41.679> there actuarial analysis, they said there actuarial analysis, they

Keywords: Meeting Start: 00:00:00 Attendance Roll Call: 00:00:12 Approval of Minutes: 00:01:34 Actuarial Valuation Update – KPPA: 00:02:10 Actuarial Valuation Update – TRS: 00:25:32, 958, all

Summary: The meeting began with roll call, confirmation of a quorum, and approval of the prior minutes. The main presentation was from KPPA officials Ryan Barrow and Erin Saratt on the annual actuarial valuations for the retirement and insurance systems. They said the systems’ funding status improved overall, with three of five insurance funds fully funded, CERS hazardous dropping from over 100% funded to 90.9% because of premium changes, and KRS receiving $650 million in supplemental funding over the biennium. They also reported strong investment returns above assumed rates, higher payroll and membership counts, and resulting actuarial losses tied to higher salaries and premiums, especially on the insurance side. Members asked several questions about what drove the actuarial losses and whether legislation affected them. KPPA said the CERS insurance loss was driven by premium increases and Senate Bill 10, while the pension-side losses were largely due to higher payroll and benefits for Tier 1 and Tier 2 members. They explained that new Tier 3 employees are designed to add no additional unfunded liability, and that the state administers the systems but does not directly control all hiring. Questions also focused on retiree health premiums, which KPPA said rose about 15% for non-Medicare retirees and 38% for Medicare retirees, with the increase attributed to utilization, prescription costs, and the Inflation Reduction Act. The committee then heard from TRS Deputy Executive Secretary and General Counsel Beau Barnes on the 2025 TRS actuarial valuation. He reported that the Retirement Annuity Trust and Health Insurance Trust both received full funding, the retirement trust’s funded ratio improved to 61%, TRS 4 remains well funded with no liability, and the health insurance trust improved to 89.1%. Barnes said TRS is on track to fully fund legacy liabilities within the amortization period, with 2044 as the point when the system reflects 100% funding and 2046 as the last year needing additional dollars for the legacy liability. He also explained that lower assumed investment returns and updated mortality assumptions increased liabilities, but that TRS uses direct rate smoothing for budgeting purposes. At the end of the meeting, the chair circulated a proposed set of “do’s and don’ts of pensions,” emphasizing that future legislation should not create unfunded liabilities. Barnes also noted he would later discuss several legislative proposals for the 2026 session, but the transcript provided ends before that discussion or any votes on those proposals.