Transcript Highlights:

• Our built assets have a current replacement value of $4.36 billion.
• built assets have a current replacement built assets have a current replacement value<00:15:01.279
• It's a value of $4.36 billion.
• addition to or replacement of buildings. addition to or replacement of buildings.
• And it reduces our carbon costs.

Keywords: 1187, senate, all

Transcript Highlights:

• We are replacing them with Taco Bell jobs. We are replacing them with McDonald's.
• We are replacing them, and we have replaced them with service industry jobs.
• Part of these costs include costs from coerced and fraudulent debt, as well as medical costs, lost income
• and the cost of replicating similar services using conventional equipment by the value of various land
• It accesses often free or low cost, making their economic value difficult to quantify.

Transcript Highlights:

• of the taken property's fair market value or the amount needed for the owner to buy a comparable replacement
• So how are you dealing with the cost?
• We certainly want to give the citizens fair value for their property, but this is more than fair value
• Is take care of people that's going to be affected by this, their replacement costs.
• So, but if it is available, what's it going to cost?

Keywords: 914, all

Transcript Highlights:

• Um, a lot of dairy operations are greatly benefiting from the value of the non-replacement animals because
• The dairy operations are greatly benefiting from the value of the non-replacement animals because the
• What would replace something like glyphosate in our crop management and the increased cost of it?
• But there's no question land values<01:01:45.119> and<01:01:45.359> cost<01:01:45.599><
• and cost are are hinders to doing values and cost are are hinders to doing that. that. that.

Keywords: Meeting Start 00:00:00 Attendance Roll Call 00:00:18 University of Kentucky Department of Agricultural Economics Presentation 00:02:18 Farm Credit Mid-America Presentation 01:12:41, 958, all

Transcript Highlights:

• And lastly, the related cost.
• the bill and those are uh cost items. the bill and those are uh cost items.
• This is taxing value and data.
• highest child care costs in our country. highest child care costs in our country.
• You can go all the way to value.

Transcript Highlights:

• It costs significantly more to replace a roof, rebuild a home, or repair a car than it did 5 years ago
• does affect the cost.
• cost.
• calculated based on the cost of replacing structures in those particular counties or what, OK.
• of labor, cost of materials, cost of everything.

Transcript Highlights:

• by six times the original value.
• by six times the original value.
• <00:33:07.039> We're the cost goes to material. We're the cost goes to material.
• /c><00:37:15.040> of<00:37:15.280> the value the actual value um of the value the actual
• <00:38:06.320> is going down, but the assessed value is going down, but the assessed value

Keywords: 1187, senate, all

Transcript Highlights:

• doing for cost estimates.
• But that includes mobility, cost effectiveness,... ...mobility, cost effectiveness, congestion relief
• And so we calculate our O&M costs.
• , and then operating costs.
• costs globally are on the rise.

Summary: The committee met jointly with the Washington-Oregon Legislative Action Committee for an update on the Interstate 5 Bridge Replacement (IBR) program. Members first adopted the proposed committee rules, then received program updates from staff on environmental review, permitting, design, tribal consultation, and public engagement. Staff said the project remains in the supplemental EIS process, with a final supplemental EIS and amended record of decision expected in early 2026, which would allow construction to begin. They also described ongoing work on Coast Guard navigation clearance, Section 106 historic-property coordination, and architectural guidelines for the bridge and five-mile corridor, emphasizing that the visualizations shown were conceptual and that public and partner feedback has already influenced design considerations such as accessibility and shared-use path connections. Members raised concerns about schedule delays, rising costs, and whether the project is being designed to be functional, safe, and economical. Staff acknowledged that the timeline has slipped from earlier expectations and said the delay reflects the complexity of the environmental and federal review process, as well as the need to avoid redoing steps. They said the updated cost estimate is being prepared now that design has advanced to roughly 30 percent, and that it will account for inflation, risk factors, and both fixed-span and movable-span options. Staff estimated a movable span would add more than $400 million and said the first construction work after environmental approval would likely be preliminary freeway and retaining-wall work in late 2026, followed by the bridge procurement. The committee also received funding and tolling updates. Staff reported that major federal grants have been executed, including Mega and Bridge Investment Grant agreements, and that state STIP amendments are advancing to allow access to federal funds. The tolling team described Level 3 traffic-and-revenue work, a bi-state tolling subcommittee process, and possible toll scenarios aimed at supporting either about $1.24 billion or $1.6 billion in toll revenue. Members questioned low-income toll relief timing, truck toll rates, and the effect of tolls on freight users. Staff said low-income discounts are being analyzed for both revenue and operational feasibility, that tribal exemptions and other policy exemptions are under review, and that the commissions expect to move into public outreach on toll rates and policies in 2026, with tolling on the existing bridges currently projected to begin in spring 2027.

Transcript Highlights:

• , air fleet replacement, automobile insurance, and fuel costs.
• I'd like to focus on two things: inflation and costs, the real costs for the CHP.
• Though there are examples, And costs for the real costs for the CHP.
• We value motor vehicle, you know, the account, and we value X.
• We value MV, you know, motor vehicles, you know, count, and we value X.

Summary: The committee first heard a DMV budget presentation on the state-to-state verification system required for Real ID compliance and the Digital Experience Platform (DXP) modernization project. DMV officials said the state-to-state system is a pointer-based exchange used when a person applies for a license in another state, with only limited identifying data shared initially and the full driver history sent only after a qualified request. Members raised concerns about privacy, possible misuse by other states or federal actors, notification to Californians, hacking, and whether California could detect or stop abusive access. DMV said it can monitor requests, see patterns of access, work with AAMVA and legal counsel, and seek to block or challenge misuse; LAO said California is in a difficult position and should consider guardrails rather than opt out. On DXP, DMV said the project is on its revised schedule and budget, occupational licensing is complete, vehicle registration is expected by the end of calendar year 2026, and the full system should be finished by fiscal year 2028-29, with phased rollout and reappropriated funding to keep costs controlled. The committee then heard from the California High-Speed Rail Office of Inspector General on a trailer bill and AB 1608. The Inspector General said current law does not clearly authorize public reports or establish a framework for retaining and disclosing work papers, and the proposed trailer bill would create that framework while also adding authority to hire needed classifications and purchase goods and services. He also said the office needs a clearer statutory definition of “proposed agreements” and notice when the High-Speed Rail Authority is reviewing them, so the office can review contracts and related agreements effectively. LAO raised no concerns with the trailer bill language, and Finance said any amendments would come in the May revision. Members debated the scope of confidentiality in the Inspector General proposal, especially whether reports could be held confidential when they identify weaknesses in fraud controls, security, or other vulnerabilities. The Inspector General said confidentiality would be temporary, tied to articulating the risk, reassessing it every 120 days, and releasing the report once the risk is no longer substantial; he also said the office had already published reports at its discretion and had found at least one procurement violation involving an amendment that added services not in the original contract. Several members pressed for stronger transparency and suggested time limits or broader disclosure, while others argued the bill would improve oversight and make the Inspector General’s authority clearer. No votes were taken during the discussion, and the item was left for further work on the trailer bill and AB 1608 language.

Transcript Highlights:

• Not just what it costs to build, but also to maintain, repair, and eventually replace.
• <01:08:00.640> out value is um and get the best value out value is um and get the best value
• So, yes, pavement costs at other costs.
• Cost-effectiveness ratio or life cycle cost analysis.
• <01:57:09.360> costs future maintenance replacement costs future maintenance replacement costs

Keywords: 1187, senate, all

Transcript Highlights:

• So the HOA is going to have that cost or the owner. So the owner, be the cost of replacing what?
• Like replacement value or replacement of whatever technology is in there?
• value.
• Look, if that's the concern, I think we could put in some language about replacement value, because at
• So with respect to the concern about replacement cost, if this bill passes, I'm still required to maintain

Summary: The committee heard several insurance-related bills. SB 371 by Senator Cabaldon would lower uninsured/underinsured motorist coverage requirements for rideshare companies from the current $1 million level to $100,000 per person and $300,000 per incident, with added transparency and data-reporting provisions. Uber, Lyft, and several business groups supported the bill as a way to reduce fares and improve affordability, while consumer attorneys, labor groups, and others opposed it as a major cut in protection for injured passengers and drivers. Committee members raised concerns about whether savings would actually reach riders and drivers, but the bill was approved on a do-pass vote to the next committee, with one member not voting. SB 487 by Senator Grayson would change how settlement or judgment proceeds are distributed when peace officers or firefighters are injured by a third party, ensuring they receive at least two-thirds of the at-fault party’s liability insurance limits in certain cases. Supporters, including public safety unions and an injured deputy sheriff, said current law can leave injured first responders with little or no recovery after employer reimbursement, while opponents representing cities, counties, and public agencies argued the bill would reduce recovery of taxpayer-funded workers’ compensation costs and lacked sufficient data. The committee members who spoke largely supported the bill, and it passed on a do-pass vote to Appropriations, with one member not voting. SB 616 by Senator Rubio would create an independent community hardening commission within the Department of Insurance to develop statewide wildfire mitigation recommendations and a post-catastrophe reporting process. The Department of Insurance, local governments, consumer groups, and fire-related organizations supported the measure as a way to improve wildfire resilience and insurance availability, while water agencies opposed provisions touching water infrastructure and warned of litigation and ratepayer impacts. The bill advanced on a do-pass vote to Appropriations, with some members not voting and one member voting no. The committee also heard SB 547 by Senator Perez, coauthored by Senator Rubio, which would extend wildfire-related insurance cancellation/nonrenewal moratoriums to commercial properties; insurers removed their opposition after amendments, and the bill passed to Appropriations on a do-pass vote.

Transcript Highlights:

• And we know what that does to our property values.
• , and what that's showcasing on the cost of gas, electricity, the cost of groceries, it's clear that
• Families are facing rising housing costs, skyrocketing insurance premiums, and a cost-of-living crisis
• too much, prescription drugs cost too much, child care costs too much.
• I thought that in the piece of legislation, it referred to covering the cost for a cost calculator.

Summary: The House met in special session, opened with prayer and the Pledge of Allegiance, approved the journal, and adopted the special order report setting the day’s calendar. The chamber then took up CS/House Joint Resolution 1F, the Governor’s property tax proposal, which would raise the homestead exemption for non-school taxes, lower the annual assessment cap on non-homestead property from 10% to 5%, and restrict county and municipal ad valorem revenue to public safety and certain other uses. Sponsor Rep. Overdorf said the measure would return money to homeowners and give local governments flexibility, while opponents repeatedly argued the ballot language was misleading and that the proposal could create large local revenue shortfalls, shift costs to other taxpayers, and threaten local services and debt obligations. Members debated a series of amendments aimed at protecting specific programs from the bill’s effects. Rep. Bartleman’s amendment to exempt Children’s Services Councils and Children’s Trusts was defeated 25-74 after supporters said those entities fund child care, mental health, aftercare, and family support, while opponents said local governments could still choose to fund them. Rep. Cross’s amendment to include water management districts in allowable uses of ad valorem taxes was also defeated, despite testimony that the districts are essential for flood control, water supply, Everglades restoration, and drought response. Rep. Eskamani’s amendment to require the Legislature to backfill public safety funding failed 25-71 after debate over whether the proposal could reduce police and fire budgets and response times. The House then rejected Rep. Woodson’s amendment to require state backfill for senior services, with supporters citing Meals on Wheels, transportation, adult day care, and other aging services, and opponents saying the state already funds senior programs. Finally, Rep. Gant’s amendment to protect veteran services was introduced and debated, with members emphasizing housing, mental health, transition assistance, and homelessness concerns for veterans; the transcript cuts off before the vote on that amendment. Throughout the debate, sponsors and supporters of the main resolution maintained that local governments would retain spending discretion and could use other revenue sources, while critics argued the measure lacked clear backfill provisions and could force cuts or tax shifts at the local level.

Transcript Highlights:

• It is a significant cost, it's a significant cost to our industry, and new projects would not be possible
• I can't replace it for that cost. It's, it's, it's already hooked up to the loose Bayou.
• We gave them 80% of the water rights forever with no reopeners on cost and all they do is pay costs.
• When I say decrease the cost of making it, maybe not the decrease in the capital costs as we see those
• LCRA actually sells it to them at cost at about $50 an acre foot, but we have record input cost right

Transcript Highlights:

• And we know what to replace.
• It is significant cost, it's a significant cost.
• It cost me 86 bucks to dredge and get an acre foot of water. if that's what it costs over time, then,
• LCRA actually sells it to the. them at cost at about $50 an acre foot, but we have record input cost
• . be replaced.

Keywords: 1184, house, all

Transcript Highlights:

• <00:15:50.759> of leadership uh replacement of leadership uh replacement of approximately<
• replacement of windows at our Independence Elementary School and replacement of wall and floor coverings
• replacement of windows at our Independence Elementary School and replacement of wall and floor coverings
• and increasing future maintenance costs and increasing future maintenance costs we<00:21:33.679>
• million $50 million in one-time costs million $50 million in one-time costs and<01:27:18.080>

Keywords: 1187, senate, all

Transcript Highlights:

• The cost of those projects is on the spreadsheets.
• Runway lighting projects, so we've replaced one of the projects, replacing significant amounts of our
• Path of asking for a one-time water wastewater line replacement to start helping us replace some of those
• All the concrete rehabilitation is panel replacement.
• The total project costs about $6.4 million.

Keywords: 914, all

Transcript Highlights:

• We needed to replace the ceiling and the floor, and it cost close to $50,000 because we didn't have the
• than they cost.
• than they cost.
• than they cost.
• <01:46:03.320> of Department to provide the cost of Department to provide the cost of replacing

Keywords: 928, house, all

Summary: The committee held a public hearing and work session on House Bill 25A, the capital improvements appropriations bill, which Representative David Mills said was based on Governor Ayotte’s budget and included appropriations for capital improvements and extensions of prior appropriation lapses. The hearing drew testimony on several requested additions to the bill, with the chair noting the unusually large turnout and moving quickly through speakers. No questions were taken on the initial bill presentation, and the public hearing on HB 25A was later closed. The Community College System of New Hampshire asked for an additional $2.6 million, including $800,000 for IT infrastructure, $1.3 million for critical maintenance, and $500,000 for energy management systems. The witness said the money would address cybersecurity and online learning needs, replace failing boilers and a roof at several campuses, and prevent costly damage such as frozen pipes. The New Hampshire Veterans Home requested $1.5 million for ADA compliance and safety improvements, including floor replacement and wider doors, citing an upcoming VA inspection and the importance of preserving federal funding. Testimony also focused on career and technical education and airport funding. Milford CTE sought to keep $9.9 million in the budget for renovations after a local vote fell short, explaining the project had been scaled down from an earlier $60 million concept and that the school board wanted another chance to seek voter approval. On aviation, Concord, the New Hampshire Municipal Association, and Department of Transportation representatives urged restoring state matching funds for FAA airport grants, saying roughly $3.6 million in state money would leverage about $62 million to $65 million in federal funds for safety and infrastructure projects at public airports. Committee members asked about project selection, matching requirements, and the airport priority process, and witnesses said the program is driven by FAA-approved capital improvement plans and safety needs rather than business-return rankings.

Transcript Highlights:

• value of that interest?
• customers cost. customers cost.
• value.
• And what those accounting costs value. And what those accounting costs are,<00:24:27.880> right?
• cost of that ELG. cost of that ELG.

Keywords: Meeting Start 00:00:00 Attendance Roll Call 00:01:28 Introduction of Guests 00:02:08 American Electric Power and Kentucky Power Presentation 00:03:31 SB 89 Discussion 00:53:55 SB 89 Roll Call Vote 01:07:46, 958, all

Summary: The committee met for an initial natural resources hearing with a quorum present and introductory housekeeping, including prayer, roll call, and recognition of guests. Chair Smith outlined ground rules for questions and then invited Kentucky Power and American Electric Power representatives to the table to discuss a proposed plan involving the Mitchell Power Plant and future generation needs in Eastern Kentucky. Witnesses Cindy Wiseman, Alex Vaughn, and AEP CEO Bill Fehrman said the company’s goals are to stabilize and lower rates, reduce rate volatility, and expand generation in the Commonwealth. They explained that Kentucky Power seeks legislative authority to securitize its 50% interest in the Mitchell coal plant, describing securitization as a refinancing mechanism that would lower annual plant costs by about $34 million and help offset roughly one-third of the expected cost of adding new generation in Kentucky. They emphasized that the proposal is not intended to close Mitchell, and said Kentucky Power currently has no plan to divest its interest; the company still needs the plant to serve customers while it pursues additional dispatchable generation in Kentucky. Members pressed the witnesses on the plant’s book value versus fair market value, whether the Mitchell interest had ever been assigned a nominal value, how any divestiture proceeds would be handled, whether Kentucky Power owns Wheeling Power, and how long Mitchell can continue operating. The company said it values Mitchell at net book value for accounting purposes, not fair market value, and explained that Wheeling Power is a separate AEP affiliate and that West Virginia affiliates have already proposed securitization of their share. Witnesses said Kentucky Power’s interest cannot technically operate past 2028 without additional environmental control investment, while the West Virginia side is depreciating through 2040. They also described the financing timeline, saying securitization would require enactment of legislation, a PSC financing order, bond issuance, and then parallel work to acquire or build new generation, with any reinvestment terms to be addressed through the regulatory process.

Transcript Highlights:

• WE HAVE DONE OUR BEST TO TRY TO KEEP ADMINISTRATIVE OVERHEAD COST AS LOW AS POSSIBLE.
• THERE IS THE ASSESSED VALUE WHICH IS WHAT YOU PAY PROPERTY TAXES ON.
• A COURSE THAT WOULD NOT INCLUDE THE COST OF THE LAW IT IS SITTING ON.
• AND THAT'S WHAT WE USE AND THAT'S WHAT WE'RE TRYING TO REPLACE.
• SO WHAT ARE WE TRYING TO REPLACE?

Transcript Highlights:

• or a cost shift or an increased cost to the participant. ...cost, or a cost shift, or an increased cost
• assessed value and then taxable values so that our with the market value, assess value, and then taxable
• and market value.
• Value and their assessed value, their taxable values still went up.
• It's the values.

Summary: The Select Committee on Property Taxes heard first from city representatives through the Florida League of Cities, who argued that property taxes are a stable local revenue source that funds core services such as police, fire, parks, public works, and stormwater work. Casey Cook emphasized that cities are optional governments with widely different tax bases and service levels, that exemptions shift the burden to fewer taxpayers, and that transparency already exists through TRIM notices, public budgets, and local hearings. Sarah Campbell of Fernandina Beach, T. Michael Stavris of Winter Haven, and Stephen O’Kee of Port St. Lucie described their budget processes, the share of general-fund revenue coming from property taxes, reserve policies, debt and capital planning, and the impact of inflation, minimum wage increases, and personnel costs. They all said local governments need predictable revenue and that any property tax changes would require careful consideration of replacement funding or service reductions. Members questioned the city panel about whether homebuyers are clearly informed about city versus county taxes and services, the role of HOAs, how many lobbyists cities employ, reserve levels, average salaries, and whether utility revenues are used only for utility purposes. The panel said TRIM notices, realtor listings, and city websites provide tax information; HOAs generally do not provide emergency services; lobbyists help local governments track Tallahassee legislation; reserves vary by city and fund; and utility revenues are generally restricted, though some cities use limited transfers. Members also asked about revenue replacement if ad valorem taxes were reduced or eliminated, and the panel said options would likely include user fees, service cuts, or other local revenue shifts. The chair also asked about public safety consolidation, and the response was that such decisions are local and may shift costs rather than create true savings. The committee then heard from county representatives after an overview by the Florida Association of Counties’ Davin Suggs, who framed counties as shared partners with the state and emphasized the gap between rising market values and the shrinking share of taxable value after exemptions and assessment limits. He said counties face a mismatch between revenue based on taxable value and expenses driven by real-world costs, and noted that most counties either held millage steady or lowered it without reaching rollback rates. He also highlighted that property taxes are only one part of county revenue, with charges for services and intergovernmental revenue often larger in some counties, and that public safety at the county level includes more than law enforcement, such as EMS, emergency management, inspections, and corrections. Deborah Manzo of Okeechobee County described a fiscally constrained rural county with limited staff, a county-supported airport, heavy reliance on property taxes for the general fund, and major cost pressures from inflation, insurance, retirement, and state and federal mandates. She said the county lowered millage slightly over recent years but still depends on multiple revenue sources and special assessments, and she flagged Medicaid, medical examiner costs, and possible firefighter workweek changes as significant concerns. Bay County Administrator Mark McQueen said his county’s budget is shaped by Hurricane Michael recovery, non-discretionary obligations, and rapid growth; he described ongoing FEMA reimbursement delays, substantial borrowing to cover disaster costs, and continuing interest expenses while the county waits for reimbursement. The county panel was still in progress when the transcript ended.