Transcript Highlights:

• We'll call the Senate Finance Committee. We'll call the Senate Finance Committee to order.
• :07:48.080> leave<00:07:48.319> a Senate finance proposal will leave a Senate finance proposal
• Like Senator Lang, this is my first time on Senate Finance.
• I had not first time on Senate Finance.
• uh maybe we'll work together on finance uh maybe we'll work together on finance again again again

Keywords: 1191, senate, all

Transcript Highlights:

• Department of Finance.
• Matthew Mesito, Department of Finance.
• Certainly, Matthew Macedo, Department of Finance.
• Liz Erie, Department of Finance.
• I appreciate Department of Finance.

Keywords: 988, house, all

Transcript Highlights:

• <00:22:16.720> this on MD's testimony and ED finance this on MD's testimony and ED finance
• finances of the agency. finances of the agency. >> Thank<00:30:56.000> you.
• That's what we do in there to finance.
• Finance.
• <00:42:11.680> does the motion to move to ED finance does the motion to move to ED finance

Keywords: 919, house, all

Summary: The committee heard House File 3764, as amended by the DE1 amendment, which would allow school districts and charter schools to create local anonymous threat reporting systems. Representative Nadeau described the bill as an optional framework that would support 24/7 anonymous tips through an app, hotline, or website, use trained crisis counselors and school-based teams, coordinate with 911 and law enforcement when needed, require public awareness efforts and student training, and direct districts to report usage data to the Department of Education. The chair adopted the DE1 amendment, and the bill was moved before the committee with the intent to place it on the general register. Testimony was largely supportive. Chris Linquist of St. Francis Area Schools said his district has used the Sandy Hook Promise reporting system since 2023-24 and credited it with helping identify bullying, mental health crises, and other safety concerns outside school hours. Alexandra Fitz Simmons of Children’s Defense Fund Minnesota said anonymous reporting systems are an important prevention tool because students are often the first to see warning signs before violence occurs. Representative Lawrence also praised the bill for being encouraged rather than mandated and emphasized local control. Rick Kaufman, speaking for several school organizations, supported the concept but said the bill still lacked clear standards for how tips are evaluated and shared with school officials, and he urged stronger coordination and funding for staffing and training. Joe Oonie of the Department of Education said the department supports anonymous reporting systems but raised concerns about the costs of building data collection and reporting infrastructure, FERPA safeguards, and the need for resources to implement the bill effectively. Chair Bennett pushed back on the funding objection, arguing the department should be able to handle the reporting within existing resources, and Representative Roach later asked whether the department had higher-priority uses for its carryover funds. No final vote on the bill itself was taken in the portion provided, beyond adoption of the DE1 amendment.

Transcript Highlights:

• Okay, moving on to Budget and Finance on page 83. BUF 101, 1100-001, House add.
• > including<00:52:12.559> rental for financing programs including rental for financing
• All means of finance is $19,940,000,000 in FY26 and $19,763,000,000 in FY27.
• All means of finance is $19,940,000,000 in FY26 and $19,763,000,000 in FY27.
• All means of finance 10,637,000 in FY27.

Keywords: 910, house, all

Transcript Highlights:

• It comes from the Committee on Finance with committee amendments.
• It comes from the Committee on Finance with committee amendments.
• It comes from the Committee on Finance with committee amendments.
• It comes from the Committee on Finance with committee amendments.
• Under the rules, it is recommitted to the Committee on Finance.

Bills: SR126, SR129, SCR71, SCR72, SCR73, SCR12, HB221, HCR54, HCR79, HCR87, HCR94, HCR95, HCR97, HCR102, HCR104, HCR58, SB480, SB514, HB12, HB66, HB145, HB167, HB175, HB196, HB213, HB218, HB222, HB256, HB291, HB325, HB326, HB352, HB401, HB430, HB433, HB434, HB448, HB456, HB476, HB481, HB487, HB492, HB549, HB579, HB608, HB621, HB624, HB626, HB632, HB637, HB656, HB722, HB745, HB749, HB804, HB818, HB821, HB833, HB864, HB867, HB874, HB893, HB909, HB951, HB968, HB969, HB978, HB979, HB985, HB988, HB989, HB1001, HB1005, HB1007, HB1024, HB1032, HB1038, HB1050, HB1051, HB1056, HB1059, HB1077, HB1080, HB1081, HB1086, HB1108, HB1112, HB1153, HB1172, HB1173, HB1175, HB1192, HB1193, HB1204, HB1218, HB1242, HB1244, HB1249, HB1252, HB1254, HB538, SCR3, SCR23, SCR38, SCR24, SB102, SB133, SB151, SB165, SB169, SB170, SB200, SB217, SB280, SB291, SB300, SB303, SB330, SB449, SB489, SB521, SB45, SB156, SB181, SB203, SB274, SB304, SB379, SB396, SB410, SB425, SB427, SB436, SB54, SB72, SB129, SB164, SB232, SB287, SB322, SB374, SB375, SB386, SB409, SB447, SB458, SB222, SB399, SR119, SCR58, SCR65, SCR9, SB35, SB65, SB215, SB246, SB249, SB269, SB282, SB296, SB323, SB363, SB369, SB474, SB490, SB492, SB500, HCR41, HCR47, HCR63, HCR69, HCR31, HB87, HB115, HB162, HB195, HB214, HB217, HB233, HB283, HB290, HB319, HB324, HB345, HB362, HB363, HB368, HB377, HB380, HB382, HB386, HB392, HB406, HB431, HB441, HB466, HB503, HB533, HB559, HB575, HB590, HB593, HB618, HB655, HB664, HB685, HB692, HB707, HB715, HB732, HB738, HB741, HB748, HB776, HB807, HB822, HB856, HB860, HB868, HB887, HB888, HB905, HB908, HB961, HB980, HB990, HB992, HB999, HB1000, HB1010, HB1146, HB1157, HB1233, HB1236, HB1243, HB54, HB137, HB180, HB192, HB310, HB321, HB396, HB512, HB552, HB578, HB638, HB663, HB708, HB717, HB718, HB1009, HB1082, HB1104, HB1107, HB1198, HB1246, HB27, HB143, HB205, HB259, HB267, HB288, HB308, HB403, HB405, HB414, HB417, HB478, HB546, HB548, HB555, HB557, HB609, HB670, HB672, HB740, HB779, HB786, HB796, HB812, HB848, HB915, HB917, HB921, HB930, HB933, HB1095, HB1096, HB1103, HB1129, HB1154, HB1166, HB1187, HB1195, HB1230, HB17, HB36, HB41, HB47, HB73, HB119, HB126, HB129, HB133, HB140, HB159, HB166, HB211, HB226, HB245, HB271, HB280, HB337, HB351, HB354, HB399, HB571, HB677, HB712, HB723, HB726, HB728, HB750, HB759, HB789, HB844, HB850, HB870, HB966, HB1006, HB1018, HB1036, HB1241, SB29, SB42, SB43, SB382, SB441, HB134, HB258, HB359, HB782

Keywords: SR126, Senate Resolution 126, World Preeclampsia Awareness Day, preeclampsia, maternal mortality, maternal health, pregnancy complications, hypertension, high blood pressure, pregnancy-related disorder, obstetrics, prenatal care, prenatal health, infant mortality, preterm birth, premature birth, Woman's Hospital, Louisiana Senate, women's health, public health awareness

Transcript Highlights:

• Finance to February 3rd's 2026 agenda. Our first presentation is Agency 370.
• Julissa Rodriguez with the Legislative Finance Committee.
• Ruby Ann Esquibel with the Legislative Finance Committee.
• The ones that are bolded are many of yours in this Senate Finance Committee.
• And what did the Board of Finance appropriate out of emergency funding last year?

Keywords: 996, all

Transcript Highlights:

• Moving to Department of Finance. Jennifer O'Mears from the Department of Finance.
• Justin Edelman, Department of Finance.
• Department of Finance. All right. Thank you. LAO, any follow-up? Department of Finance? No.
• Now we'll turn to Department of Finance. Hi there. Tess Shurkenback with Department of Finance.
• Tess Shurkenbeck, Department of Finance.

Summary: The committee heard a broad public safety budget hearing focused on youth justice funding, probation incentive grants, and disaster response and recovery. On the youth justice item, the Office of Youth and Community Restoration described a proposed change to the JJRBG funding formula that would shift resources away from a DJJ-based measure and toward county youth population, serious offenses, and step-down placements in less restrictive programs. Members asked about data on Native American youth; OYCR said statewide data are limited, but its SYTF data show about 1% of youth in secure youth treatment facilities were Native in 2024. The Department of Finance had no objections, and the item was discussed as a way to support alternatives to long-term incarceration. The committee then reviewed the community corrections performance incentive program for county probation departments. The Department of Finance proposed stabilizing the program with a maintenance payment, updating the performance baseline, and adding a growth factor; the LAO agreed the formula needed changes but recommended using 2022-23 data instead of 2021-23, using marginal rather than average cost assumptions, rejecting the growth payment and minimum guarantee, and adding stronger oversight through the BSCC. Finance said it was open to some technical changes but opposed a new BSCC audit framework, noting Judicial Council already surveys probation departments and that evidence-based practice use has increased over time. Members and staff indicated the proposal still needed further work. A major portion of the hearing focused on the January 2025 Southern California wildfires and state disaster response. A resident of Altadena gave emotional testimony about evacuation failures, loss of home, and the need for accountability. LAO and Cal OES outlined the disaster response and recovery system, including mutual aid, alert and warning, debris removal, FEMA and state funding streams, and the long timeline for reimbursement. Cal OES said it had pre-positioned resources, temporarily took over the county’s wireless emergency alert function for about three weeks, coordinated debris removal and recovery operations, and had already allocated more than $286 million in state funds. Officials also discussed the 100% federal cost share for emergency work for 180 days and the uncertainty created by changing federal processes and the cancellation of the BRIC resilience program. The committee also heard two smaller Cal OES items: a request to reappropriate about $22 million for the law enforcement mutual aid reimbursement program, which the LAO said should be placed in statute with clearer goals and reporting, and an update on Victims of Crime Act funding, where Cal OES said federal VOCA allocations have fallen sharply and that roughly $224 million would be needed to maintain current service levels if federal funding does not improve. Public comment included a request for funding to expand datacasting and emergency alert receivers for wildfire and earthquake warning.

Transcript Highlights:

• Taylor McRoe, Department of Finance.
• Kaylee App, Department of Finance.
• Chris Hill, Department of Finance.
• Department of Finance. No comments. I have a comment.
• All right, and from our Department of Finance, nothing.

Keywords: 988, house, all

Summary: The Assembly Budget Subcommittee No. 5 on State Administration heard a series of budget proposals and informational items, beginning with the Department of Housing and Community Development’s HCD Connect system. HCD requested permanent authority for seven existing temporary positions to maintain and expand the system, and also sought funding and positions to implement eight 2025 housing-related bills. Members asked about how HCD Connect will interact with programs moving to the new Housing Development Finance Committee and about the revised implementation cost for AB 1053, which HCD said had dropped from about $6 million to $1.9 million because of shared infrastructure with HDFC and CalHFA. The committee also heard Cal ICH’s request for $339,000 to implement AB 678 on LGBTQ+ inclusive and culturally competent homelessness services, with testimony emphasizing the need for better data and training for a population disproportionately affected by homelessness and discrimination. The Department of Financial Protection and Innovation presented three continuation proposals: funding for the California Consumer Financial Protection Law program, the Debt Collector Licensing Act program, and the broker-dealer/investment adviser continuing education program. Members and public commenters focused heavily on the debt collector licensing fees, the number of licensees, and whether assessments were too high compared with other states; DFPI explained that fees are set on a pro rata basis tied to net proceeds and that the workload remains substantial. Public testimony also supported DFPI’s student loan assistance work and raised a separate request for franchise broker registration funding. The committee then took up a mandate suspension item, voting to suspend a new disclosure mandate related to deferred property taxation, and heard trailer bill language from the Department of Finance on AB 91/MENA data collection, aimed at protecting federal funding, ensuring non-disclosure, and allowing more time for implementation. The Secretary of State presented Help America Vote Act funding for VoteCal and the HAVA spending plan, as well as the Cal-Access Replacement System (CARS), the Notary Automation Program Replacement Project (NAP 2.0), and AB 1392 on confidential voter registration for elected officials and candidates. Members asked about project costs, timelines, user testing, and data migration; the Secretary of State said VoteCal funds would be exhausted in 2027–28, CARS is targeted for completion by November 2026, and AB 1392 would require system modifications and new confidentiality procedures. The committee also heard an informational overview from the California Arts Council, which described its 50th anniversary, the economic impact of arts funding, and the cultural districts program; public testimony strongly urged increasing Arts Council grant funding from $24 million to $50 million and adding support for cultural districts. Throughout the hearing, the committee took multiple vote-only actions approving the items before it, with votes recorded on the HCD, Cal ICH, DFPI, HAVA, CARS, NAP 2.0, and AB 1392 proposals, while some items were held open or discussed without a quorum at earlier points in the meeting.

Transcript Highlights:

• CD1 and we also don't have finance CD1 and we also don't have finance approval<00:03:43.440>
• So we distributed a CD1, but we don't have finance approval on this.
• So, we don't have finance approval now.
• So we distributed a CD1, but we don't have finance approval on this.
• <00:09:45.279> approval CD1 but we don't have finance approval CD1 but we don't have finance

Keywords: 912, senate, all

Transcript Highlights:

• credit repair Home Improvement financing credit repair Home Improvement financing and<00:32:44.519
• <00:46:29.240> options more than doubled yet financing options more than doubled yet financing
• <00:47:19.520> program new manufactured home financing program new manufactured home financing
• <00:49:01.760> by Equity purchases have been financed by Equity purchases have been financed
• budget the Minnesota Housing Finance budget the Minnesota Housing Finance Agency<01:22:02.719>

Keywords: 1187, senate, all

Transcript Highlights:

• That was when tax increment financing started. That was the major impetus for it.
• That was when tax increment financing started. That was the major impetus for it.
• That was when tax increment financing started. That was the major impetus for it.
• It is not because of tax increment financing that we have not had a tax bill.
• It is not because of tax increment financing that we have not had a tax bill.

Keywords: 1187, senate, all

Transcript Highlights:

• And what And when further Finance.
• of the Committee on Finance. of the Committee on Finance.
• > reviewed<00:42:11.560> the Committee on Finance uh reviewed the Committee on Finance
• Okay, I understand we have a finance Okay, I understand we have a finance report. report. report.
• an amendment in the Finance Committee. an amendment in the Finance Committee.

Keywords: 927, senate, all

Transcript Highlights:

• Of Finance.
• Liz Nye with the Department of Finance.
• Do you have anything to add, Finance?
• Alex Anaya of the Department of Finance.
• Patrick Rochelle with the Department of Finance.

Keywords: 988, house, all

Transcript Highlights:

• Senate Finance Committee substitute for Senate Bill 137.
• Senate Finance Committee substitute for Senate Bill 11 as amended has been read twice by title and is
• House Bill 41 is the New Mexico Finance Authority's public project revocation.
• Speaker, gentlelady, it also provides a clear financing pattern that can be adjusted. Mr.
• Committee for use in their evaluations. of Finance Committee for use in their evaluations.

Transcript Highlights:

• <00:02:16.800> at businesses are denied financing at businesses are denied financing at nearly
• Fortis was development finance.
• c> for through creative financing for through creative financing for entrepreneurs<00:03:58.000><
• Many are many are viable financing.
• <00:05:21.680> models innovative financial financing models innovative financial financing

Bills: HF3707, HF3732, HF2581, HF3731

Keywords: unemployment insurance, judicial officials, paid leave, economic development, worker protections, workforce development, unemployment benefits, youth training, grants, job creation, grant funding, revolving loan, underserved communities, disadvantaged groups, electrical licensing, installation, Class A installer, regulations, labor and industry, 1183

Summary: The committee first adopted the minutes from February 26 and then heard House File 2581, authored by Representative Frazier, which sought $1 million for Fortis Capital, a nonprofit economic development lender. Frazier and Fortis CEO Brian Smith described Fortis as a gap-financing lender that helps underserved entrepreneurs who cannot meet traditional bank underwriting standards. They said the organization has made 37 loans totaling more than $4 million since 2021, leveraged another $29.5 million, and created 314 jobs. Smith said Fortis typically charges around 6.5% interest, has had two defaults, and uses a revolving loan fund model that recycles repayments; members discussed how the proposal fits with other state economic development programs and whether Fortis should instead be part of a competitive grant process. The chair laid HF 2581 over for possible inclusion in a budget bill. The committee then heard House File 3707, brought by Representative Berg, which would extend confidentiality protections to unemployment insurance and paid leave judges and related staff by adding them to the definition of judges for purposes of protecting personal information. Berg and testifiers from the Department of Economic Development and MAPE said the bill responds to harassment and safety concerns, including threats, doxxing, and an attack near an office, and is intended to protect people making sensitive determinations. MAPE supported the bill as an update to existing protections for similar workers. Members raised concerns that the bill’s language was too broad, especially the reference to the paid leave division, and questioned whether it should cover only judges or also call-center and other staff. Department and committee members agreed the language likely needed narrowing and discussed possible amendments and whether to move the bill to Judiciary and then revisit it. No final vote was taken on HF 3707 during the discussion, and the bill remained under consideration for further language work.

Transcript Highlights:

• Taylor McRoe, Department of Finance.
• Kaylee App, Department of Finance.
• Chris Hill, Department of Finance.
• Thank you, Department of Finance. LAL. I have a comment.
• All right, and from our Department of Finance, nothing.

Summary: The Assembly Budget Subcommittee No. 5 on State Administration heard a series of budget change proposals and trailer bill items, beginning with Housing and Community Development (HCD) requests. HCD sought permanent authority for seven existing temporary positions to support the HCD Connect IT system, and a separate proposal to fund implementation of eight 2025 housing-related laws with $4.2 million General Fund and 16 positions, plus $470,000 one-time General Fund. Members asked about how HCD Connect would interact with programs moving to the new Housing Development Finance Committee, and HCD also explained that the estimated cost to implement AB 1053 had been revised downward from about $6 million to $1.9 million because of shared implementation with CalHFA and the new committee structure. The committee also heard a Cal ICH proposal for $339,000 one-time General Fund to implement AB 678 on LGBTQ+ inclusive and culturally competent homelessness services, with testimony emphasizing data gaps and the need for a contract-based approach because HMIS cannot be changed unilaterally. The Department of Financial Protection and Innovation presented three continuation proposals: $15.34 million and 53 positions for the California Consumer Financial Protection Law program, $13.5 million and 51 positions for the Debt Collector Licensing Act program, and $49,000 ongoing for two positions in the broker-dealer/investment adviser education program. Members and the public raised concerns about the size and fairness of debt collector assessments and licensing fees, while DFPI explained the pro rata fee structure, the current license count, and how larger assessments fall on larger firms. Public testimony also supported retaining funding for the Student Loan Empowerment Network and requested funding for a franchise broker registration program. The committee also considered a mandate item involving suspension of a disclosure requirement related to property taxation, and trailer bill language from the Government Operations Agency to amend AB 91 on MENA demographic data collection, with the administration emphasizing data nondisclosure, protection of federal funding, and delayed implementation. The Secretary of State’s office then presented Help America Vote Act funding requests: $10.3 million for VoteCal maintenance and operations and $4.492 million for HAVA spending plans supporting voter education, training, accessibility, auditing, and county assistance. The office also requested $660,000 General Fund to implement AB 1392, which would make voter registration information for elected officials and candidates confidential, and explained the need to modify VoteCal and county election systems. The committee also heard requests to continue the Cal-Access Replacement System with $11.8 million General Fund and to continue the Notary Automation Program Replacement Project with $9.75 million from the Business Fees Fund. Members asked about total project costs, testing, data migration, and the expected November 2026 go-live date for Cal-Access replacement. Votes were taken on the vote-only items once quorum was established, and the committee approved the items considered. The final informational item was an overview from the California Arts Council, which highlighted the agency’s 50th anniversary, its statewide grantmaking, and the economic impact of arts funding. Council staff described Creative Corps, cultural districts, and the role of arts funding in local economies, while members and public witnesses urged increased support, including a request to raise local assistance grant funding to $50 million and to provide additional funding for cultural districts. Testimony emphasized the arts as economic infrastructure, community infrastructure, and a source of civic and cultural vitality across California.

Transcript Highlights:

• This is very similar to the financing services offered by the New Hampshire Business Finance Authority
• This is very similar to the financing services offered by the New Hampshire Business Finance Authority
• Finance Authority both hea and the BFA Finance Authority both hea and the BFA believe<00:05:06.600>
• Um, Chair of Finance, why did they come to me? Cost savings, okay?
• Um, Chair of Finance, why did they come to me? Cost savings, okay?

Keywords: 1191, senate, all

Transcript Highlights:

• Joe McDaniel, State Controller, Finance and Administration Cabinet.
• > Controller District Joe McDaniel State Controller District Joe McDaniel State Controller finance
• and<00:01:09.799> administration<00:01:10.320> cabinet<00:01:11.200> good finance
• and administration cabinet good finance and administration cabinet good morning<00:01:11.759> I'm
• cabinet the authority to finance cabinet the authority to continue<00:01:43.840> to<00:01:43.960

Keywords: Meeting Start: 00:00 Roll Call 00:18 HB 524 Discussion: 00:45 HB 524 Vote: 02:30, 958, all

Summary: The committee met with a quorum and took up its only item, House Bill 524. Representative Aaron Thompson, joined by State Controller Joe McDaniel and State Risk Director Sher Wisman, explained that the bill would extend the Finance Cabinet’s authority over the state self-insurance fund for state buildings through July 2030. The bill also renames the State Fire and Tornado Insurance Fund to the Commonwealth’s Property and Casualty Insurance Fund to better reflect the more than 7,100 buildings and contents covered. Members briefly discussed the measure, with the chair noting the need to move it before the current authority expires on July 1. A motion and second were made, and the committee voted favorably on the bill. The roll call showed support from the members present, and the chair announced the bill passed with favorable expression. Because there was no consent, the bill will still need to be considered on the floor. The chair thanked staff and attendees and noted the committee was likely nearing the end of its session work.

Transcript Highlights:

• Senate Bill 64, do pass as amended, thence referred to the Finance Committee.
• Senate Bill 58, do pass, thence referred to the Finance Committee.
• Senator Kerry Hamblin. 58, do pass, thence referred to the Finance Committee.
• Senate Bill 177, introduced by Senator Muñoz, an act relating to public finance, making transfers from
• Senate Finance, we're going to go in like 20 minutes after the floor, so 2:20 now, so let's just say

Keywords: 996, all

Transcript Highlights:

• Yes, George Harris, the Department of Finance.
• Christon Malhotra, Department of Finance.
• George Harris with the Department of Finance in La...
• Department of Finance. George Harris, Department of Finance.
• And I believe Department of Finance is going to, we'll start with Department of Finance, then LAO and

Summary: The joint hearing focused on California’s child care, preschool, and transitional kindergarten oversight, with chairs emphasizing the state’s Master Plan for Early Learning and Care and the need to break down silos between programs. CDSS and CDE reported progress toward the plan’s goals, including universal access to TK for all four-year-olds next school year, expanded access for low-income three-year-olds, and more children with disabilities being served in state preschool. They also noted ongoing work on quality rating/review reform, funding structure changes, and the need to address rates, workforce shortages, and federal uncertainty around Head Start. Testimony from advocacy groups and providers largely supported expanding access while simplifying the system. Children Now, Every Child California, and the California Budget and Policy Center argued that California still has uneven access, especially for infants, toddlers, and three-year-olds, and urged investments in mixed delivery, inclusion, full-day options, and a cost-of-care rate methodology. Every Child California recommended consolidating part-day and full-day contracts, streamlining eligibility priorities, making the two-year-old option permanent, and funding staffing incentives. Parent testimony highlighted how child care gaps and county-to-county transfer delays can disrupt work, safety, and children’s stability, and providers described low reimbursement rates, the need for health and retirement benefits, and support for delinking subsidy rates from private pay. The second panel addressed universal transitional kindergarten. The Learning Policy Institute reported rapid TK expansion, with most districts now offering TK, but said access still depends on facilities, staffing, and whether programs are available at all school sites. The Department of Finance said the governor’s budget would fully implement TK by adding funding for all eligible four-year-olds and lowering the adult-to-child ratio from 12:1 to 10:1. The Legislative Analyst’s Office said the administration’s enrollment and cost assumptions were optimistic and estimated lower TK enrollment growth and lower costs for the ratio change. CDE supported the expansion and urged continued funding for UPK coordinators, teacher development, and mixed-delivery planning grants. Members questioned facilities shortages, staffing competition, and how to ensure TK expansion does not displace CSPP or Head Start classrooms. No formal votes or actions were taken in the hearing.