Transcript Highlights:

• The project was originally authorized at $7 million in bond funds in the 2022-2024 budget.
• The authority for this project is KRS 164.575, P15.
• The authority for this project is KRS 164.575, P15.
• The bonds will not be KHC or Commonwealth debt.
• The bonds will not be KHC or Commonwealth debt.

Keywords: 00:01 Call to Order and Roll Call 00:30 Approval of Minutes 00:59 Information Items 03:34 Finance and Admin Cabinet 12:31 KY Infrastructure Authority 21:47 Office of Financial Mgmt 23:27 Adjournment, 958, all

Summary: The committee first handled informational reports on several bond and lease matters, including school district and board of education debt-service items, upcoming revenue bond issues in Henderson and Jessamine counties, and three advertised lease-space requests for state agencies. Members also reviewed prior lease transactions that had not been approved in November and December; the Finance and Administration Cabinet later canceled and rebid the Harlan County lease and moved ahead with the Perry County lease modification. Additional information items included a Kentucky Communications Network Authority quarterly capital projects report and Eastern Kentucky University asset preservation revisions. The committee then heard from Deputy State Budget Director Janice Thomas on four action items. She reported a $2.85 million USDA-funded renovation at Kentucky State University’s Betty White Building, a $294,000 increase for the Kentucky School for the Deaf’s Middleton Hall renovation, and a $6.1 million restricted-funds scope increase for the KCTCS Science Building Expansion in Elizabethtown. Members asked about how often the statutory 15% increase authority is used for school dormitory and cottage projects and about the competitiveness of construction bids; Thomas said bids are typically competitive but recent estimates have been difficult because of higher material and equipment costs. The committee approved the three action items unanimously and also received a no-action report on a $3.918 million Corrections project to repair and replace the KCIW kitchen drain line. Next, the Kentucky Infrastructure Authority presented seven loans and grants, all of which the committee approved unanimously. The package included sewer and water projects for Frankfort, Sturgis, Scottsville, Morganfield, Western Pulaski County Water District, and Springfield, plus an emergency $5.487 million Kentucky Waters grant for Eddyville after a catastrophic sewer plant failure and weather-related emergency declarations. The projects covered wastewater interceptor and treatment upgrades, sewer collection rehabilitation, water transmission main installation, and planning/design work, with loan terms ranging from five to 30 years and interest rates from 0.5% to 2.25%. Finally, the committee considered a $38.4 million Kentucky Housing Corporation conduit issuance for a 322-unit multifamily rental project in Jefferson County. A member asked how the committee participates in the transaction, and staff explained that it is a conduit issuance and not state debt. The committee then moved to approve the issuance.

Transcript Highlights:

• bonding bill is ready. Um bonding bill is ready.
• it,<00:08:56.120> but<00:08:56.480> very bonding projects in it, but very bonding
• So, if that one's the GO bond bill.
• for the author of House file<00:10:18.200> 4591.
• the author or either of the testifiers? the author or either of the testifiers?

Keywords: 1187, senate, all

Transcript Highlights:

• I don't know if you have the authority or not to do that.
• So we should manage the cash with some bonding if we could.
• The drinking water program has revenue bonds making up about 79% of that portfolio, and improvement bonds
• And the Clean Water Program has about 70% revenue bonds and 30% improvement bonds.
• I'm not necessarily saying we should have bonded it.

Summary: The Water Topics Overview Committee met to review several interim studies and receive updates from the Department of Water Resources. The committee approved the March 26, 2026 minutes, observed a moment of silence for the late Representative Conmy, and welcomed Representative Hansen to the committee. Staff then reported that the watershed management study and the stormwater/wastewater study had both satisfied the presentation requirements in their study directives, with no further required testimony unless members wanted additional information. The department’s main presentation focused on major water projects and agency operations. Reese Haas and staff updated members on the NAWS project, the Southwest Pipeline Project, Devils Lake outlet operations, low-head dam safety work, floodplain management repository implementation, data center water use, and the 2027 Water Development Plan. Members asked detailed questions about NAWS funding sources, remaining project costs, capacity concerns for All Seasons and other users, and whether current construction is being designed for future demand. The department said NAWS remains on track for substantial completion by October, that remaining NAWS funding will come from a mix of federal, state, and local sources, and that current construction is designed for ultimate capacity while some future components will be adjusted for increased demand. A large portion of the meeting was devoted to the department’s cash management, Resources Trust Fund revenues, carryover balances, and the State Water Commission’s cost-share program. The department reported $340.6 million in carryover remaining, explained that much of it is already obligated to long-term projects, and noted that oil price forecasts and stripper-well exemptions will affect future revenues. Members raised concerns about large carryovers, affordability for local sponsors, and whether the state should continue obligating money multiple bienniums ahead. The department said it is working with the commission on a revised prioritization framework, including high/moderate/low project categories and a two-tier pre-construction/construction approach, to better manage obligations and affordability. The committee also reviewed Deloitte’s finalized studies on regional governance/finance and cost-share policy. Deloitte presented options for Southwest, NAWS, and Red River governance, with stakeholders generally favoring keeping NAWS largely as is, using the current Southwest model with improvements, and pursuing a more structured governance option for Red River. On cost share, the department said Deloitte’s recommended package would cover projected needs through the 2030s, but would require policy changes such as lower percentages for some project types, a 25% replacement-project rate with a cap, and possible bonding or delayed reimbursement strategies. No votes were taken on these policy questions, and the chair indicated the committee would continue the discussion at future basin meetings and the September Water Topics meeting.

Transcript Highlights:

• >> that uh that wasn't authorized? >> that uh that wasn't authorized?
• Kentucky Infrastructure Authority. Kentucky Infrastructure Authority.
• The callable bonds outstanding, basis. The callable bonds outstanding, right? right? right?
• >> Uh<00:43:22.240> bond. >> Uh bond. >> Uh bond.
• as the bonds are outstanding. as the bonds are outstanding.

Keywords: 958, all

Summary: The committee first received several information items, including University of Kentucky reports on medical and research equipment purchases, five school districts’ planned bond issues, and a School Facilities Construction Commission list of prior debt issues. Members then heard and approved an appropriation increase for a federally funded University of Kentucky project at the Central Kentucky Regional Airport in Richmond. The project will construct a terminal building and is tied to EKU’s airport operations and planned flight school; members asked about the public funding, the role of EKU, and possible aviation expansion, and the item was approved by roll call. The committee next approved a University of Kentucky lease purchase for an 85,000-square-foot facility at 415 West Sun Street in Morehead for $6.4 million. UK said the property, formerly the Rowan County Board of Education site, is directly across from UK St. Clair and will be used for multiple purposes; members questioned the quarterly payment structure and why the county preferred not to receive the full amount upfront, but the item was approved. The committee then heard three appropriation increases in the Tourism, Arts and Heritage Cabinet: a Fish and Wildlife pump project at Ballard Wildlife Management Area and two Lake Barkley State Resort Park repair projects. Finance staff explained the Lake Barkley increases were mainly to cover construction contingencies after bids came in close to available funding, and the committee approved the action items. Janice Thomas then presented four pool projects requiring no action: HVAC upgrades at the Future Farmers of America Leadership Training Center in Hardinsburg, geothermal and HVAC work at the Kentucky School for the Blind, a Brady Hall HVAC project at the Kentucky School for the Blind, and a renovation of Shanti Hall at Kentucky State University for the School of Engineering Technology. Members asked no substantive questions on those items. Finally, Natalie Broner presented a new CHFS lease in Wayne County and a Transportation Cabinet lease modification in Christian County. The Wayne County lease drew the most discussion, with members questioning the rent, the lack of other bids, and whether another county location might be preferable; CHFS said it maintains county-seat offices statewide and that the Wayne County site would replace an existing office. The Christian County item was described as a replacement site for driver licensing services with renovation costs largely absorbed by the lessor. Both lease items were presented for action after the discussion.

Transcript Highlights:

• The bonds do not. There's a hard ceiling at that level.
• The bonds do not. Without the exemption, these deals do not pencil. The bonds do not get issued.
• LiTech tops out at 60, and the state's bond cap caps at 80.
• No LIHTC, no bond cap allocation, no state appropriation.
• And I think it's really upon us to at least authorize a pilot.

Keywords: 988, house, all

Transcript Highlights:

• The bonds do not... Without the exemption, these deals do not pencil. The bonds do not get issued.
• LiTech tops out at 60, and the state's bond cap caps at 80.
• No LIHTC, no bond cap allocation, no state appropriation.
• And I think it's really upon us to at least authorize a pilot.
• One, would a housing bond create the CAP program, and are you familiar with it?

Summary: The committee heard testimony on several housing-related proposals and policy ideas. One speaker urged changes to the welfare property tax exemption for affordable housing, arguing that annual income recertifications are outdated and burdensome, and proposing a one-time qualification at move-in, streamlined monitoring through TCAC or HCD, and continued exemption protection for projects that remain in compliance. The witness said rising insurance costs and administrative burdens are hurting cash flow and threatening the viability of affordable housing operations. A major portion of the meeting focused on social housing and the SB 555 study. HCD described its ongoing study process, including public engagement with residents, practitioners, and experts, and noted that California already has many building blocks for social housing, such as public land tools, long-term affordability mechanisms, community land trusts, and tenant protections. Community land trust and housing policy witnesses argued that social housing will require legislative action, expanded public subsidy, tax abatements, public land, and simplified financing, and they emphasized the need to reframe the concept for the “missing middle” and middle-class households to build broader political support. Committee members discussed stigma around “social housing,” the need for a rebrand, and the possibility of a pilot program, especially on excess public land. The committee also heard a proposal for a certified professional plan-check system modeled on Vancouver, Canada. The presenter said California’s permitting delays, inconsistent reviews, and staffing shortages add cost and uncertainty even for streamlined projects, and proposed allowing state-certified private professionals to perform plan checks and inspections under state oversight while local governments retain zoning and enforcement authority. Members discussed local control concerns, infrastructure costs, and the need to reduce delays and uncertainty in the entitlement process. Finally, the committee heard testimony supporting changes to HCD loan disbursement so funds can be used during construction rather than only after completion. Witnesses said this would reduce interest costs, improve feasibility, and could produce additional affordable homes with existing funding. The discussion also referenced AB 1053 as the vehicle for implementing that approach.

Transcript Highlights:

• She said, "We cannot just build a vanilla bonding bill.
• We need to have some flavor to the bonding bill."
• <00:04:45.360> But<00:04:46.000> uh work with us on a bonding bill.
• But uh work with us on a bonding bill.
• And so, really appreciate Bonding bill."

Keywords: 1183, house

Transcript Highlights:

• you this year that authorizes us to make loans.
• and that authorization is good for three years.
• We have MFA, which is the Mortgage Finance Authority.
• We had the authority, the Mortgage Finance Authority, to issue tax-exempt bonds.
• We also have some authorities for the Texas Exempt bonds and some tax credits through the IRS or the

Transcript Highlights:

• So, the left-most column is the bonds authorized from 2008 through 2025.
• bonds and housing infrastructure bonds<00:05:13.960> debt<00:05:14.200> service<00:05:
• <00:05:20.880> authorized left-most column is the bonds authorized left-most column is the
• bonds authorized from<00:05:21.720> 2008<00:05:22.680> through<00:05:22.920> 2025.
• have been authorized.

Keywords: 918, senate, all

Summary: The Senate Finance Committee took up Senate File 203, a broad housing bill authored by Senator Port. Port described the measure as a package including $50 million in housing infrastructure bonds, MHFA administrative and investment reforms, expanded Greater Minnesota infrastructure grants for workforce housing, manufactured housing bill of rights provisions, and a private equity restriction on large investors buying certain single-family homes starting in 2026. Fiscal analyst Eric Olafson walked through the spreadsheet and said the $50 million bond authorization would add debt service costs over time, with the total estimated debt service for that authorization at about $75.8 million. Senator Draheim raised concern about the growing cost of bonding and said the state should rely more on cash than debt. The committee then adopted two technical amendments. The A21 amendment, described by Port as correcting manufactured housing bill of rights language, aligning MHFA board meeting language, conforming a lived-experience exemption to federal law, and fixing a capacity-building grants reference, was approved without objection. The A20 amendment, offered by Draheim, was also adopted and would give the legislature more control and visibility over MHFA funding and how quickly program dollars are reinvested after agency operations. Members then debated Draheim’s A22 amendment, which would delete the manufactured home park provisions from the bill. Draheim and several Republicans argued the section could function like rent control, could burden good park owners, and might have unintended consequences for park operations and purchases. Port, Senator Boldon’s allies, and other supporters said the provisions were needed to protect residents from rent spikes and private equity abuses in manufactured home communities, where residents own their homes but not the land. The transcript ends during that debate, before any final disposition on A22 or the bill itself is shown.

Transcript Highlights:

• Folsom currently participates in eight joint powers authorities.
• This doesn't take any local authority. It centralizes it.
• As we talk about today, a federal requirement for tax-exempt bond issuance is TEFRA authority.
• and ability to issue SIDLAC-issued bonds across the state.
• and ability to issue SIDLAC-issued bonds across the state.

Keywords: 988, house, all

Transcript Highlights:

• It has issued bonds, just under $100 million.
• They've been approved by the Finance Authority.
• It's important on these bonds because by the statute that you passed, this district has to issue bonds
• But to the mayor's point, we're going to be mostly working on bond authorization through the legislature
• But so before the legislature this session will be the bond authorization, you know, of about $90 million

Keywords: 996, all

Transcript Highlights:

• I mean, they bond, they exhaust their bonded indebtedness, and they pay just a fractional cost to what
• Are they working with the housing authorities, either the regional housing authority or the local housing
• authority, in really just planning?
• by the district to being a state authority.
• We have 74,000 GSF for 920 students, and it took a Wisconsin public bond authority, a broker in Chicago

Transcript Highlights:

• <00:09:10.800> authority sufficient bonding authority sufficient bonding authority um<00:09
• :22.320> authority know perhaps that bonding authority know perhaps that bonding authority could
• expenditure, but we'd have bonding expenditure, but we'd have bonding authority<00:09:38.080>
• <02:00:00.400> uh bonding authority for New Hampshire uh bonding authority for New Hampshire
• It means the bonding authority is money.

Keywords: 1191, senate, all

Transcript Highlights:

• During the '86th legislature, the House passed HB 1300, authored by Chairman Hunter, my colleague, uh
• You could be the persuasive authority here.
• Projects must take out certain surety bond, surety bonds, including payment bonds and performance bonds
• Current state law requires payment bonds for contracts in excess of 25,000. $25,000 in performance bonds
• House Bill 3887 raises that threshold for payment bonds from $25,000 to $150,000 and performance bonds

Transcript Highlights:

• And we’re going to bond this with 30-year bonds. Markita, is that correct? Yes.
• And we’re going to bond this with 30-year bonds? Marquita, is that correct? Yes.
• And we're going to bond this with 30-year bonds? Marquita, is that correct? Yes.
• I want to run a bond scenario.
• Chair, it would remove the authorization to sell the bond, which basically means that there's more money

Bills: SB152, SB145, SB190, HB247

Keywords: telecommunications, low-income assistance, lifeline, broadband, rural broadband, universal service fund, public regulation commission, PRC, 911 surcharge, telecommunications relay service, VoIP, mobile service, internet affordability, digital equity, digital inclusion, rural internet, broadband infrastructure, eligible telecommunications carrier, ETC, tribal consent

Transcript Highlights:

• A money bond. That's correct. Yes. This would be a tool for the judiciary, yes.
• Go ahead and provide a bond for that person to be released. Correct.
• Ask questions of the author. Do you yield? Yes, sir.
• As a tool, to request a no bond in the most violent, in the most serious.
• Question of the author. Do you yield? Yes, I do, of course.

Bills: SJR 5, SJR 36, SJR 5, SJR 5, SR 105, SR 121, SB 17, SB 19, SB 25, SB 28, SB 17, SB 19, SB 25, SB 28

Keywords: bail, felony offenses, criminal justice reform, public safety, constitutional amendment, school safety, mental health, emergency response, education policy, law enforcement, SR 121, Senate Resolution 121, Pete Alfaro, Pedro Cuellar Alfaro, Pedro Alfaro, Baytown, Texas Senate tribute, in memory, memorial resolution, condolence resolution

Transcript Highlights:

• I recognize the author from an NOA, Representative Raya Rayau, who will introduce the bill.
• I recognize the author from an NOA, Representative Raya Rayau, who will introduce the bill.
• > have<00:04:14.799> to The public housing authorities have to The public housing authorities
• allow these public housing authorities allow these public housing authorities to<00:04:25.440>
• <00:04:43.919> Again, obligation bonds. We fixed that. Again, obligation bonds.

Keywords: 1183, house

Transcript Highlights:

• During fiscal year 2024, it issued nine series of bonds and notes totaling nearly $153 million.
• to issue bonds for HEA.
• to issue bonds for HEA.
• Finance Authority both hea and the BFA Finance Authority both hea and the BFA believe<00:05:06.600>
• c><00:05:24.039> hea<00:05:25.039> uh authority to issue bonds for hea uh authority to

Keywords: 1191, senate, all

Transcript Highlights:

• to draw down and service that debt. ...collected to service if they have to issue bonds to draw down
• or a general obligation bond, I don't know that there is a direct correlation.
• or a general obligation bond, I don't know that there is a direct correlation.
• That means we're not simply authorizing a project of development.
• It authorizes bonds, service reserve funding, bond issuance insurance, liquidity, and instruments and

Bills: SB1290, SB1530, SB1847, HR1050, SB169, SB1377, SB1990, SB1991, SB1778, SB1579, SB1992, SB3, SB2028, SB1928, SB2127, SB2117, SB1439, SB1930, SB330, SB1191, SB2110, SB2134, SB2069, SB2095, SB1613, SB1246, SB1976, SB1346, SB1509, SB2071, SB259, SB1314

Keywords: 2-1-1 services, revolving fund, Department of Human Services, crisis pregnancy, abortion, legal funding, research funding, development rebate, Oklahoma Department of Commerce, tax incentives, higher education partnerships, Medicaid, ADvantage Waiver, home-based services, eligibility criteria, healthcare, senior services, Taiwan, Oklahoma, sister-state relationship

Transcript Highlights:

• We issue bonds in the bond market.
• <00:07:32.240> we um we issue Bonds in the bond market we um we issue Bonds in the bond market
• We work with public housing authorities, housing and redevelopment authorities, and we work with local
• We work with public housing authorities, housing and redevelopment authorities, and we work with local
• <01:02:26.200> so in the bond market to issue bonds so in the bond market to issue bonds so

Keywords: 1183, house

Summary: The committee met for an agency overview from Minnesota Housing Commissioner Jennifer Ho. After member and staff introductions, Ho described Minnesota Housing’s mission, structure, and role as a mission-driven financial institution that issues bonds, uses earnings to support operations, and works across the housing continuum from homelessness prevention to homeownership and preservation. She emphasized that the agency is not a builder or regulator, but funds and partners with developers, local governments, nonprofits, and lenders. She also noted the agency’s four divisions, including a new local government housing programs division created after the 2023 legislative session expanded the agency’s responsibilities. Ho reviewed funding and program activity, saying Minnesota Housing spent $1.96 billion in fiscal year 2024 and helped more than 73,000 households. She highlighted that the agency’s work is heavily competitive and often oversubscribed, with many projects selected through RFPs and grants but more applications than available resources. She discussed 2023 and 2024 investments, including homeownership, rental, and manufactured housing projects, and said roughly half of competitive dollars have gone to Greater Minnesota over the last several years. She also explained the difference between funds committed and funds actually disbursed, noting that construction and rehabilitation projects can take many months to close and draw down funds. The commissioner also updated members on new programs created in 2023 and 2024, including first-generation down payment assistance, the Greater Minnesota Workforce Housing Development Program, public housing rehabilitation, state housing tax credits, and other local and regional initiatives. She said some programs are already closed out, while others remain in early implementation or are still accepting applications. Ho mentioned a forthcoming technical amendment to adjust a high-rise sprinkler program after eligibility issues limited participation. She closed with examples of projects preserved or funded, including a St. Louis Park preservation deal, public housing preservation in Greater Minnesota, a St. Cloud challenge project, and the first-generation down payment assistance program, which distributed $50 million to about 1,450 first-time buyers, most of whom were Black, Indigenous, or people of color. No votes or formal committee actions were taken.