Transcript Highlights:

• leaders, entrepreneurs, local small business owners, and, as we see today, students to engage in the legislative
• leaders, entrepreneurs, local small business owners, and, as we see today, students to engage in the legislative
• leaders, entrepreneurs, local small business owners, and, as we see today, students to engage in the legislative
• Also Nadia Riggs and Donna Lei, who are my legislative assistants. Mahalo.
• </c> legislative assistants. Mahalo. legislative assistants. Mahalo.

Bills: SB2042 , SB2892 , SB1163 , SB2076 , SB2116 , SB2122 , SB99 , SB2088 , SB2114 , SB2117 , SB2118 , SB2245 , SB2386 , SB2079 , SB2043 , SB2155 , SB2268 , SB2932 , SB3240

Keywords: SB2042, Hawaii insurance, captive insurance, sponsored captive, class 4 captive, minimum capital, surplus requirement, unimpaired capital, insurance commissioner, HRS 431:19-104, commercial insurance, risk retention, insurance regulation, financial solvency, captives, Ways and Means, CPN, feral chickens, chickens, animal control

Transcript Highlights:

• Uh, anyway, office manager Chance Naota, Carol Kapo, legislative aide Hector Deneas, and committee clerk

Bills: SB2042 , SB2892 , SB1163 , SB2076 , SB2116 , SB2122 , SB99 , SB2088 , SB2114 , SB2117 , SB2118 , SB2245 , SB2386 , SB2079 , SB2043 , SB2155 , SB2268 , SB2932 , SB3240

Keywords: SB2042, Hawaii insurance, captive insurance, sponsored captive, class 4 captive, minimum capital, surplus requirement, unimpaired capital, insurance commissioner, HRS 431:19-104, commercial insurance, risk retention, insurance regulation, financial solvency, captives, Ways and Means, CPN, feral chickens, chickens, animal control

Transcript Highlights:

• I'm Sam Hatzenbieler, Legislative Director at the Economic Opportunity Institute.
• And I also want to pay recognition to the sponsor of the legislation.
• With that, I hope that you will support the legislation. Thank you, Representative Gregerson.
• And I think that this amendment would turn this bill into legislating on vibes, into legislating on demonstrated
• Additionally, we know that this is vital legislation.

Bills: HB2073 , HB2403 , HB2587 , HB2607 , HB1170 , HB1570 , HB1710 , HB1750 , HB1834 , HB2441

Committee: House Appropriations

Keywords: health insurance, premium assistance, funding, healthcare, subsidies, failure to register, criminal justice, registration requirements, public safety, law enforcement, nonprofit, grant funding, pilot program, financial support, community development, child care, childcare, subsidy rates, rate regions, market rate survey

Transcript Highlights:

• Um, Mary and I both chaired and co-chaired at various times the pensions commission.
• That pension fund had been around for a hundred years, and Mary took a while to agree that that was a
• </c> co-chared at various times the pensions co-chared at various times the pensions commission.<00:17
• </c> not sure about the Duth Teachers Pension not sure about the Duth Teachers Pension Fund.<00:17:44.799
• That pension fund kill me right there.

Keywords: 1187, senate, all

Transcript Highlights:

• Repository or for the committee on pensions investments and financial services.
• By the employees retirement system of Texas or for the committee on pensions investments and financial
• Refer to the Committee on Pensions, Investments, and Financial Services.
• Refer to the Committee on Pensions, Investments and Financial Services.
• Refer to the committee on pensions, investments and financial services.

Keywords: 1184, house, all

Transcript Highlights:

• first bill that we're going to discuss this morning is Representative John Blanton's act relating to pension
• spiking and the system's administration by Kentucky Public Pension Authority.
• If you'll recall last year, we passed a piece of legislation codifying the language from the court ruling
• </c> year with another piece of legislation year with another piece of legislation to<00:09:22.240><c
• Um, member pension spiking started at.

Keywords: Meeting Start: 00:00 Attendance Roll Call: 00:11 Legislative Proposal: Representative Blanton: 01:12 • House Bill 220 Approval of Minutes: 10:07 Legislative Proposal: Senator Nunn: 10:24 • Sick Leave Flexibility for School District Employees Adjournment: 34:35, 958, all

Summary: The committee first took up Representative John Blanton’s bill on pension spiking and Kentucky Public Pension Authority administration. Blanton said the measure would make a prior court-related pension-spiking fix retroactive to July 1, 2022, so employees who retired between that date and the court ruling would be treated the same as those covered by the earlier legislation. KPPPA staff said they did not think the bill would go beyond the Court of Appeals ruling, but noted it could prompt requests from people who retired before July 1, 2022. Members asked about how many retirees might be affected, whether the language was narrow enough, and whether the bill could open the door to additional claims; Blanton estimated roughly 1,000 retirees would need review, with fewer actually impacted. No vote was taken on the bill in the excerpt. The committee then heard Senator Matt Nunn and Scott County Schools Superintendent Billy Parker present a proposal allowing school districts to offer teachers and other employees a voluntary payout for unused sick days. Supporters said the idea could improve attendance, reduce substitute costs and classroom disruptions, help retain younger teachers, and potentially lower long-term retirement-related costs because the payout would not count toward pension compensation. They emphasized the program would be optional for districts and employees, would require teachers to keep at least 15 sick days in reserve, and would be district-funded rather than a state cost. Members raised questions about budget impact, tax treatment, pension effects, and whether the incentive would actually change behavior; the bill sponsor and witnesses said the payout would be taxed like other compensation and would not affect TRS or CERS benefits. One member requested reporting on how the program would be used, and the sponsor said he would be open to adding that. The sponsor also noted a later committee-substitute change would allow use of accumulated sick leave for observance of religious holidays not otherwise on the school calendar, with a personal statement from the employee.

Transcript Highlights:

• Senator Public Pension Oversight Board.
• </c> with a piece of legislation. with a piece of legislation.
• This has been through the Public Pension Oversight Board.
• This has been through the Public Pension Oversight Board.
• This has been through the Public Pension Oversight Board.

Committee: House State Government

Keywords: Consideration of SB 70 00:03:41 Consideration of SB 85 00:13:04 Consideration of SB 29 00:16:56 Consideration of SB 226 00:23:09, 958, all

Transcript Highlights:

• This bill would propose that gets added to the pension benefits.
• </c><01:02:28.480><c> School</c> insurance payments so legislators School insurance payments so legislators
• </c> how this uh uh piece of legislation how this uh uh piece of legislation would<01:05:12.079><c> work
• </c><01:05:28.079><c> was</c><01:05:28.319><c> to</c> excuse me legislation was to excuse me legislation
• </c> get the Executive Branch the legislative get the Executive Branch the legislative branch<01:16:45.560

Keywords: Meeting start 00:06:05 Roll Call 00:06:33 HB 152 Discussion 00:07:55 HB 152 PHS 2 Vote 00:10:12 HB 545 Discussion HB 545 PHS 1 Vote 00:13:47 HB 606 Discussion 00:15:15 HB 606 Vote 00:16:32 HJR 30 Discussion HJR Vote 00:19:07 HJR 32 Discussion 00:20:25 HJR 32 PHS 1 Vote 00:23:11 HJR 34 Discussion 00:25:04 HJR 34 PHS 1 Vote 00:28:50 HJR 46 Discussion 00:30:09 HJR 46 Vote 00:34:15 HJR 53 Discussion 00:35:40 HJR 53 Vote 00:38:55 HJR 54 Discussion 00:40:15 HJR 54 Vote 00:40:50 HB 546 Discussion 00:42:15 HB 546 PHS 1 Vote 00:46:15 HB 605 Discussion 00:47:38 HB 605 PHS 1 Vote 00:52:10 HB 694 Discussion 00:53:46 HB 694 Vote 01:07:47 HB 695 Discussion Only 01:10:20, 958, all

Summary: The House Standing Committee on Appropriations and Revenue met on February 25 and considered a series of bills and joint resolutions, mostly involving appropriations, capital projects, and local infrastructure funding. The committee first adopted PHS 2 and passed House Bill 152, which creates a Medicaid supplemental payment program for public ground ambulance providers; the sponsor said the substitute ensures no state general fund dollars will be used and that local agencies must identify a funding source for any required match. HB 152 was reported favorably on a 20-0 vote. The committee also passed House Bill 545, the annual claims bill, after members confirmed all executive-branch claims were included; it was reported favorably on a 21-0 vote. House Bill 606, requiring reporting for general obligation bonds, also passed unanimously and was reported favorably. The committee then took up several joint resolutions tied to capital and infrastructure spending. House Joint Resolution 30, concerning water projects, was described as implementing ranked projects under the Waters program administered by KIA and was reported favorably on a 21-0 vote. House Joint Resolution 32, concerning school facilities construction, was amended by PHS 1 and advanced after discussion referencing the Auditor’s report and questions about a Johnson County Schools expenditure; it also passed 21-0. House Joint Resolution 34, relating to contingent appropriations for KCTCS, was amended by PHS 1 and advanced after testimony outlining three projects in Somerset, Jefferson Community and Technical College, and Glasgow; it passed 21-0. House Joint Resolution 46, for local road projects, was described as funding the highest-scoring local road requests from a larger pool of applications and passed 21-0. The committee also advanced House Joint Resolution 53, authorizing release of funds for KSU’s Health Sciences Center project, after KSU officials said the building is needed for nursing and allied health programs and promised a business plan report by November 1, 2025; it passed 21-0. House Joint Resolution 54, authorizing funds related to the State Fair Board, also passed unanimously. Later, the committee considered House Bill 546, which revises the local roads and streets program by adding a DOT-developed scoring system, monthly reporting, a match requirement, and a $500,000 project cap; members asked about the cap and were told larger projects should be handled through other mechanisms. HB 546 was reported favorably on a 21-0 vote. Finally, House Bill 605, a technical corrections and update bill for the local economic relief grant program, was amended by PHS 1 and discussed as expanding eligibility, including to the Delta Regional Authority and certain local-affiliated applicants; the transcript cuts off before the final vote on HB 605.

Transcript Highlights:

• The two types of pension benefits provided for by our plan in Montana are a partial pension payment and
• a full pension payment.
• If the legislation approaches...
• on some legislation, I think it was on page three. that they were working on some legislation.
• Committee, I think what we'll do is we'll get it figured out with legislative council and legislative

Keywords: 908, all

Summary: The committee was called to order, a quorum was established, and the minutes from the prior meeting were approved. The first major presentation came from Montana Public Employees Retirement System executive director William Hollahan, who gave an overview of Montana’s Volunteer Firefighters’ Compensation Act plan. He explained that the plan covers volunteer firefighters in unincorporated areas, is funded by 5% of state fire insurance premium taxes, and currently serves 228 departments with about 2,936 active members and 1,242 retirees. He described eligibility rules, annual training and reporting requirements, benefit levels for partial and full pensions, disability, death, medical, and funeral benefits, and said the plan is actuarially sound with roughly $60 million in assets and a funded ratio slightly above 100%. Committee members asked about prior-service credit, whether EMS personnel are included, the effect on recruitment and retention, and whether expanding coverage would require a funding analysis; Hollahan said prior service is not credited, EMS is not currently included, and any expansion would need financial review. Tim Walleen of Workforce Safety and Insurance then presented a draft North Dakota workers’ compensation solution for volunteer firefighters and volunteer EMS personnel. He explained that volunteer responders are already covered by workers’ comp for medical and wage-loss benefits, but the proposal would set a minimum annual wage of $30,000 for calculating wage-loss benefits for qualifying volunteers, with the benefit paid at two-thirds of that amount. Representative Porter suggested tying the volunteer definition to existing code rather than a fixed dollar amount, and Walleen agreed. Questions focused on whether search and rescue or other volunteer emergency services could be included, whether departments would face new paperwork, and whether volunteer organizations can already elect coverage; Walleen said there would be no additional paperwork and that volunteer coverage is already available. The committee also heard from volunteer fire service representatives and the state fire marshal. An Oakes-area firefighter, Mr. Olson, testified that small departments are struggling with retention, communication, and administrative burdens, especially around separate bookkeeping and funding rules for donated or fundraising money, and he said departments need clearer guidance from the state. State Fire Marshal Dr. Matthew Clark introduced himself and outlined a broader effort to improve education, support, and coordination for fire departments, including a planned 10% audit of certificates of existence beginning in 2027, more outreach through his office, and better assistance with training, reporting, and grant access. He said his office is authorized under current law to provide these services, but the role has been vague and underused. Finally, Arnagard Rural Fire District Chief Rick Schreiber testified in favor of new recruitment and retention ideas, including retirement-style benefits, health insurance, tax incentives, scholarships, grants, and more remote or regional training. He said volunteer departments are losing members, that local tax and donation funds are already stretched, and that any new retirement or incentive program should be sustainable and likely involve a mix of state and local support.

Transcript Highlights:

• I am the executive director of the Office of Benefits at the Kentucky Public Pensions Authority.
• My part of House Bill 30 deals with pension spiking.
• that says raises given by the General Assembly are not considered part of pension spiking.
• And then we said you couldn’t put it towards your pension. It is not proper.
• It's tough work in tobacco legislation, and that's why House Bill 211 is so disconcerting.

Keywords: Meeting Start: 00:05 Attendance Roll Call: 00:17 HB 30 (Rep. Blanton): 01:12 HB 27 (Rep. Osborne: 05:22 HB 45 (Rep. Hodgson): 08:29 HB 211 (Rep. C. Lewis): 15:54 HB 441 (Rep. Tipton): 36:38 Adjournment: 41:20, 958, all

Summary: The Senate State and Local Government Committee met and first took up House Bill 30, which addresses pension spiking and retired state troopers returning to work. The sponsor and Kentucky Public Pensions Authority staff said the bill would codify court language clarifying that across-the-board raises from the General Assembly do not count as pension spiking, and the committee substitute would also give retired troopers rehired on a year-to-year basis the same vacation, sick leave, and bereavement benefits as new troopers. The committee adopted the substitute and a title amendment, and HB 30 passed 9-0. The committee then considered House Bill 27, which removes an arbitrary 2023 date from the Planned Communities Act that had created confusion over political signage rules in HOA and planned community phases. The sponsor said the change would preserve HOA authority to regulate sign size, duration, and placement while eliminating inconsistent treatment of neighboring properties. The bill passed 10-0. House Bill 45 followed, proposing to ban foreign funding in Kentucky elections and ballot measures and to require disclosure for express advocacy ads related to ballot measures. Supporters said the bill would put ballot measures on the same footing as candidate and PAC restrictions and prevent foreign nationals from influencing Kentucky elections; one senator raised concerns that the language could unintentionally chill participation by noncitizens, especially in one-on-one discussions, and the sponsor said he would work on that issue. The committee adopted the bill as amended, and it passed 8-1. The final major item was House Bill 211, which would create a narrow exemption allowing cigar bars under defined conditions, including a revenue threshold, age restrictions, ventilation requirements, and local permitting options. The sponsor said the bill would not roll back general smoke-free laws but would allow tightly regulated cigar bars and grandfather existing ones from some requirements. Public health witnesses, including a nurse, a physician, and a thoracic surgeon, opposed the bill, warning it would weaken strong smoke-free protections, harm workers and patrons, and reverse progress against tobacco-related disease. The transcript provided did not include a final vote on HB 211.

Transcript Highlights:

• This doesn't affect anyone's pension payments at all. ...putting our retirees first.
• This doesn't affect anyone's pension payments at all.
• I hope that you will help support this legislation today.
• This is request legislation from the governor's office to help balance his budget.
• So within the legislation itself, we basically set the rate at 75%.

Bills: HB2720 , HB2073 , HB2487 , SB5816 , SB5919 , SB5995 , SB5831 , SB6134 , SB6136 , SB6137 , HB2689 , SB5922 , SB5944 , SB5957 , SB5988 , SB5994 , SB6011 , SB6065 , SB6103 , SB6151 , SB6244 , SB5420 , SB5868 , SB6044 , SB6132 , SJM8002

Keywords: behavioral health, emergency services, health insurance, provider access, mental health funding, premium assistance, funding, healthcare, subsidies, insurance tax, state regulation, insurers, taxation, budget impact, juice grapes, agriculture, commerce, market access, fire safety, insurance incentives

Summary: The House convened with a quorum, recited the Pledge of Allegiance, and heard a prayer from Tammy Stamphley, a Presbyterian minister and hospital chaplain. After approving the previous day’s minutes and receiving a Senate message, the chamber moved to second and third reading of several bills, with multiple measures advanced under suspended rules. The first major vote was on Engrossed Senate Bill 5872, which establishes a pre-K-related account to support up to 10,000 additional early learning slots for three- and four-year-olds. Supporters emphasized the Balmer Group’s private funding commitment and the value of early learning and family support; the bill passed 97-0. Substitute Senate Bill 5834, a Department of Retirement Systems request bill changing the fund source for legal, medical, administrative, and fraud-prevention expenses using interest earnings from pension funds, also passed 97-0. Substitute House Bill 2689, dealing with the Working Connections Child Care program, drew the most debate. Supporters said it aligned attendance policy with federal rules, adjusted reimbursement rates, and helped balance the budget while preserving child care resources. Opponents argued it cut support in rural and underserved counties, would worsen child care deserts, and placed budget savings on the child care industry; it passed 53-44. The House then passed Senate Bill 5922, allowing school districts to transfer vehicle depreciation funds with OSPI approval, by 59-38, and Senate Bill 6065, a narrower bill for districts under enhanced financial oversight such as Prescott, by 97-0. The session ended with announcements that both caucuses would meet later in the day.

Transcript Highlights:

• This um anyway, the public pension oversight board, this uh modifies the board, adds another legislator
• </c> another another legislator another another legislator uh<00:02:49.599><c> from</c><00:02:49.840>
• </c> uh from the House and another legislator uh from the House and another legislator from<00:02:51.519
• </c> legislative vote. legislative vote.
• Uh, and many new legislators were not present when prior commitments were made to fully fund pensions

Committee: Senate State & Local Government

Keywords: Meeting Start: 00:05 Attendance Roll Call: 00:10 SB 70 Discussion: 00:58 SB 70 Vote: 04:36 SB 80 Discussion: 05:16 SB 80 Vote: 31:45 SB 127 Discussion: 32:30 SB 127 Vote: 39:38 SB 154 Discussion: 41:25 SB 154 Vote: Adjournment: 47:14, 958, all

Transcript Highlights:

• that year, the city petitioned CalPERS to amend its contract to exclude all new firefighters from pension
• As a result, firefighters in the newly formed department were denied access to CalPERS pension benefits
• that year, the city petitioned CalPERS to amend its contract to exclude all new firefighters from pension
• As a result, firefighters in the newly formed department were denied access to CalPERS pension benefits
• So one of the things we can offer is an enhanced pension opportunity.

Summary: The Assembly Committee on Public Employment and Retirement heard several retirement and school employment measures. SB 301 by Sen. Grayson would prevent CERL-covered cities and districts from amending retirement contracts to exclude certain employee groups, closing a loophole similar to one previously addressed for CalPERS. The bill was supported by California Professional Firefighters and received no opposition. SB 443 by Sen. Rubio would clarify that employees transferring into a joint powers authority can retain CalPERS classic status even when the JPA expands later; the city of La Verne, a flood management agency, and AFSCME supported the bill, and it also drew no opposition. Both bills were moved out of committee on unanimous votes and sent to Appropriations, with the consent calendar items SB 521, SB 581, and SB 853 also approved. The committee then heard SB 494 by Sen. Cortese, which would give classified school employees the right to have disciplinary appeals heard by an administrative law judge rather than by the school board. Supporters, including CSEA, AFSCME, and CFT, argued the bill would create parity with teachers and community college faculty and provide a fairer appeal process. Opponents, including the California School Boards Association, county superintendents, school business officials, and community college groups, argued it would remove local control, impose a one-size-fits-all process, and shift costs to districts. The bill was passed out of committee and referred to the Committee on Higher Education. The committee also considered SJR 2 by Sen. Cortese, a resolution urging Congress and the President to enact federal protections for classified school employees, including better wages, benefits, safety, and workplace rights. Support came from CFT, CSEA, and other labor groups, with no opposition. The resolution was adopted and moved forward. At the end of the hearing, the committee reopened the roll to add votes, and all listed measures ultimately passed unanimously or near-unanimously before the meeting adjourned.

Transcript Highlights:

• And House Bill 139 as legislators.
• </c> prepare and review legislation. prepare and review legislation.
• That would a pension waiver program.
• </c> pension benefit. They returned to work. pension benefit. They returned to work.
• And uh pensions.

Committee: Senate State & Local Government

Keywords: Meeting Start: 00:10 Attendance Roll Call: 00:19 HB 10 Discussion: 02:19 HB 10 Vote: 06:24 HB 139 Discussion: 08:23 HB 139 Vote: 19:50 HB 607 Discussion: 21:29 HB 607 Vote: 25:55 HB 642 Discussion: 28:15 HB 642 Vote: 32:06 Adjournment: 33:25, 958, all

Transcript Highlights:

• </c><00:18:22.600><c> and</c> dedicated to Debt Service pensions and dedicated to Debt Service pensions
• </c><00:18:50.120><c> liabilities</c> direct debt plus pension liabilities direct debt plus pension liabilities
• Kim, so we focus on both pension and direct debt.
• liabilities, or pension repayment and OPEB payments as well.
• It shows Illinois with a huge... we know they have a huge pension debt.

Committee: Senate Capital Investment

Keywords: 1187, senate, all

Transcript Highlights:

• Persons disrupting legislative proceedings are subject to removal, arrest, or other appropriate legal
• For legislative business: Assembly Member Celeste Rodriguez.
• I would like to thank my colleague from Merced for joining as a co-author on this legislation.
• We will benefit from this legislation when California needs it the most.
• Click under pensions and then read them and weep.

Keywords: 988, house, all

Transcript Highlights:

• As our distinguished sponsor said, this is model legislation.
• That's why this is an important piece of the legislation.
• I also sit on the NCOIL, the National Conference of Insurance Legislators, and this was model legislation
• These workers earn their pensions.
• These workers earn their pensions.

Summary: The committee heard several bills and took action on a number of them. SB 1234 by Senator Alvarado-Gil would require fentanyl to be included in drug tests ordered by juvenile courts for parents or guardians in dependency cases; there was no opposition, a committee member confirmed it would apply to caregivers rather than children, and the bill was supported for moving forward. SB 1257 by Senator Arreguín would require the Attorney General to publish an annual public report on immigration enforcement incidents at designated safe locations such as schools, hospitals, courthouses, and places of worship; supporters from immigrant advocacy and health groups testified about fear and chilling effects in communities, while questions focused on how data would be collected and concerns were raised about sanctuary policies. SB 1176 by Senator Choi would bar foreign adversary entities from buying California agricultural land; supporters cited national security concerns, but committee members pressed on enforcement, straw buyers, and who would be responsible for identifying prohibited purchasers, and the bill was held on a 2-4 vote after debate. The committee also heard SB 1146 by Senator Gonzalez, which would require clear disclosure when AI-generated or altered images, audio, or video are used in health-related advertisements depicting health care providers. The California Medical Association and California Dental Association supported the bill, describing deepfake health ads as deceptive and harmful; it passed the committee 7-0 to Appropriations. SB 988 by Senator Grayson would regulate auto glass insurance practices by restricting assignment of benefits, requiring claim numbers and itemized estimates, and addressing steering and billing practices; supporters said it would curb fraud and stabilize premiums, while independent glass businesses worried about steering and market concentration. After discussion of consumer choice and small-business impacts, the bill passed 7-0 to Appropriations. SB 1288, presented by Senator Grayson on behalf of Senator Laird, would require financial institutions to make a good-faith effort to notify beneficiaries of non-probate assets and would reduce barriers to claiming those assets, especially for nonprofits. Nonprofit witnesses described long delays and burdensome account-opening requirements, while SIFMA and bankers opposed the bill unless amended, citing conflicts with federal and industry obligations and concerns about retroactivity and verification. The bill passed 8-0 to call. The committee also heard SB 941 by Senator Padilla, which would cap commissary markups in private immigration detention facilities at 35% above vendor cost; the Attorney General’s office and immigrant advocates supported it as a response to exploitative pricing and poor conditions, and it passed 8-0 to call. Finally, SB 909 by Senator Smallwood-Cuevas would raise and index public works contractor fees and penalties and dedicate more penalty revenue to enforcement; labor supporters said stronger funding is needed to address wage theft and backlogs, while contractors opposed the fee and penalty structure as uncapped and costly. The bill was moved forward on a vote and remained on call after committee discussion.

Transcript Highlights:

• If not, so we consider the reading of the journal from the prior legislative day.
• </c> state and local retirement and pension state and local retirement and pension systems.<00:08:28.240
• President, I move favorable on this<00:10:33.680><c> legislation.
• </c><00:12:34.240><c> system</c> for state retirement and pension system for state retirement and pension
• </c> remain across 27 legislative districts. remain across 27 legislative districts.

Keywords: Senate streaming session for Friday, February 27, 2026, 960, senate, all

Transcript Highlights:

• I mean, our pension funds are the second or third best in the nation.
• I don't know how that works, but I mean, that pension fund is one of the best.
• I don't know how that works, but I mean, that pension fund is one of the best one.
• I don't know how that works, but I mean that pension fund is one of the best.
• Many, many legislators have sunk their teeth into this.

Committee: Senate House Appropriations & Finance

Summary: The committee first discussed the state budget and employee compensation, focusing on the 1% pay increase proposal and the broader cost of state employee raises and benefits. Members noted that over the past several years the state has invested heavily in payroll, pension contributions, pay studies, and band realignments, and several senators argued that the 80/20 health insurance change and other benefit improvements amount to significant compensation increases even without an additional raise. Others cautioned that recurring revenue is limited, that recent revenue collections were weaker than expected, and that the state should be careful about committing to ongoing costs given possible economic slowdown, federal uncertainty, drought, wildfire risk, and the possibility of future budget pressure. The committee then heard extensive testimony on SB 177, a major economic development proposal centered on quantum computing, advanced energy, robotics, synthetic biology, and related technologies. Supporters described the bill as a large strategic investment intended to leverage New Mexico’s national laboratories, universities, and existing quantum workforce to attract companies, create high-wage jobs, and diversify the economy. Testimony emphasized that much of the quantum workforce would be skilled trades and technicians rather than Ph.D.-level researchers, and members asked detailed questions about whether the state would receive long-term returns, how intellectual property and clawbacks would be handled, and whether the package included recurring costs. Witnesses also explained the bill’s trade association and workforce-development components, and several senators raised concerns about energy use, water use, guardrails, and ensuring the state does not subsidize outside interests without benefits returning to New Mexico. After debate, the committee moved to table SB 177 indefinitely, with members noting that the funding and structure were already incorporated into House Bill 2. The motion passed on an 8-0 vote, with several members excused. The meeting then adjourned.

Transcript Highlights:

• to the text of municipal ballot propositions on the issuance of bonds refer to the Committee on Pensions
• to hold in the Texas billion dispository, we're making an appropriation refer to the Committee on Pensions
• Reed the Committee on Pensions, Investments, and Financial Services.
• Refer to the Committee on Pensions, Investments and Financial Services.
• Bond refer to the Committee on Pensions, Investments and Financial Services.