Transcript Highlights:

• Mary Haltman, Department of Finance.
• We also looked at financing considerations.
• We looked at several financing considerations, including some timing considerations, to make those financing
• The financing of public agency indebtedness is nuanced, as I think the committee as well, The financing
• Recommendations 3 through 11 deal with the financing topic.

Summary: The Assembly Budget Subcommittee on Accountability and Transparency held a hearing focused on three issues: federal funding cuts and delays, possible state revenue impacts from reduced IRS enforcement, and the fiscal effects of AB 218 on local governments. The Franchise Tax Board described how state and federal tax systems are closely linked, how most returns are filed electronically through software, and how FTB relies on IRS information sharing for compliance, fraud prevention, offsets, and nonfiler work. Members raised concerns that federal staffing cuts at the IRS could weaken audits of large corporations and reduce California revenue, and asked about VITA and ITIN filers; FTB said it was not aware of VITA reductions, noted ITIN returns are processed the same as other returns, and said ITIN filing appeared slightly down this year. The Department of Finance said it is monitoring federal developments, summarized the continuing resolution and reconciliation process, and noted that California lost nearly $940 million in earmarked federal projects under the CR, while major federal budget decisions remain uncertain until the President’s budget and later congressional action. The University of California reported substantial federal pressure on research, student aid, and health care. UC said hundreds of millions of dollars in federal awards have already been canceled, with additional threats to NIH and DOE facilities-and-administration rates, graduate fellowships, student loan repayment plans, international student visas, Pell Grants, and Medicaid/Medi-Cal funding. Committee members pressed UC on the effects of DEIA-related federal restrictions, the loss of clinical trials and research staff, and the impact on low-income students and patients. UC said it is pursuing litigation with the Attorney General and other institutions, but emphasized that court action is only a temporary solution and that sustained state and private support may be needed. The second panel addressed the fiscal consequences of AB 218, which extended the statute of limitations for childhood sexual abuse claims against public agencies. FCMAT presented a report with 22 recommendations, including better statewide data collection, financing mechanisms, a possible victims compensation fund, and prevention measures. Los Angeles County described a tentative $4 billion settlement tied to AB 218 claims, saying it will require reserves, borrowing, and long-term annual payments through 2050, while also forcing curtailments and cuts to vacant positions to preserve services. Members discussed insurance pools, retroactive premiums, unidentified future claims, and the need for a compensation fund or other financing tools. No formal votes were taken; the hearing concluded with public comment, including testimony from local health officials about nearly $400 million in terminated federal public health grants and the resulting layoffs and service impacts.

Transcript Highlights:

• So, from my view as a public health professional, those payment gaps have created a system where the
• I strongly encourage you to support this legislation and close the regulatory gap.
• I strongly encourage you to support this legislation and close the regulatory gap.
• My name is Jesse Colbert, and I'm with the Mind the Gap Coalition.
• We work on My name is Jesse Colbert, and I'm with the Mind the Gap Coalition.

Keywords: 995, all

Summary: The committee held a hearing on a large group of behavioral health and insurance-related bills. Topics included expanding access to mental health services by allowing physician assistants to authorize Section 12 emergency holds and be recognized as licensed mental health professionals (H. 1131/S. 773); improving coverage for community behavioral health centers so commercial insurance matches MassHealth’s bundled outpatient and crisis services (H. 1276/S. 703); eliminating cost sharing for certain behavioral health services (S. 718); extending detox and clinical stabilization coverage from 14 to 30 days and adding transitional support services (H. 1319/S. 772); requiring coverage for dual-diagnosis treatment in psychiatric facilities (H. 1277/S. 771); and preserving access to treatment for serious mental illness through coverage of coordinated specialty care and assertive community treatment (H. 1135/S. 709). The committee also heard bills on preventive behavioral health services for children (H. 1228/S. 802) and post-pregnancy mental health care, including postpartum depression and pregnancy loss-related care (H. 1314/S. 823).

Transcript Highlights:

• <00:30:51.039> I to move forward to house finance I to move forward to house finance I assume
• <00:36:54.119> and amendment is going to go to finance and amendment is going to go to finance
• to go to house finance and house finance<00:47:14.960> will<00:47:15.960> probably<00:
• That 325% would make up that gap.
• <01:16:28.080> okay that 325 would make up that Gap okay that 325 would make up that Gap okay

Keywords: 928, house, all

Summary: The committee heard testimony on a non-germane amendment to HB 297 that would create the Granite State Home Mitigation and Resiliency Program. Insurance Commissioner DJ Beton, joined by department staff, explained that the proposal is intended to help homeowners afford insurance by funding proactive home improvements that reduce risk and improve insurability. He said the program would be funded by the first $1 million collected annually from the insurance premium tax, with grants of up to $10,000 available on a first-come, first-served basis. Beton described the problem as rising homeowners insurance premiums, hard-market underwriting, nonrenewals, and the resulting shift to more expensive surplus lines coverage. He said eligible projects could include roof fortification, exterior improvements, flood-related foundation work, and removal of hazardous trees or limbs. He cited similar programs in other states, especially Alabama, Louisiana, and North Carolina, as evidence the model can work and noted that industry representatives were present in support. He also said the program would use means testing aligned with the Department of Energy’s weatherization program to target lower-income applicants. Members asked about the non-germane process, who would administer the program, and how the bill would prevent misuse of grant funds. The commissioner said the department would administer the program using one repurposed existing position, with Treasury handling fund flow through an MOU. Staff explained that applicants would have to show completed work through a signed contract, itemized work, and a sworn contractor affidavit, with some upfront payment allowed for materials and the remainder paid after completion. The chair and members discussed that the amendment is being attached to a different bill only to move the proposal through committee and on to House Finance for further consideration.

Bills: SJR37, SJR57, SCR8, SB8, SB108, SB125, SB251, SB318, SB378, SB379, SB396, SB472, SB487, SB503, SB533, SB565, SB583, SB608, SB650, SB686, SB689, SB707, SB710, SB763, SB854, SB875, SB916, SB924, SB925, SB958, SB961, SB965, SB987, SB988, SB1006, SB1019, SB1021, SB1024, SB1026, SB1038, SB1146, SB1185, SB1194, SB1202, SB1252, SB1253, SB1330, SB1343, SB1362, SB1497, SB1498, SB1499, SB1527, SB1547, SB1596, SB1697, SJR36, SJR12, SJR57, SJR37, SCR22, SCR12, SCR8, SB925, SB1362, SB565, SB765, SB62, SB666, SB707, SB888, SB687, SB847, SB1248, SB504, SB857, SB305, SB296, SB284, SB1497, SB1499, SB1498, SB241, SB304, SB621, SB1023, SB1024, SB686, SB371, SB204, SB609, SB670, SB850, SB854, SB413, SB1346, SB1033, SB1220, SB1073, SB810, SB1539, SB447, SB875, SB406, SB985, SB965, SB1119, SB1505, SB1194, SB1253, SB1215, SB1302, SB856, SB583, SB673, SB681, SB1172, SB1252, SB378, SB608, SB955, SB957, SB988, SB1019, SB1021, SB1120, SB251, SB541, SB379, SB1737, SB266, SB1415, SB1527, SB125, SB599, SB1330, SB53, SB916, SB1352, SB785, SB710, SB472, SB1450, SB1502, SB1566, SB414, SB1062, SB961, SB1038, SB578, SB711, SB746, SB942, SB1404, SB1448, SB1738, SB108, SB8, SB318, SB507, SB533, SB689, SB1026, SB1349, SB1355, SB1433, SB1434, SB1596, SB1403, SB1146, SB763, SB667, SB1059, SB617, SB1567, SB503, SB16, SB310, SB311, SB396, SB505, SB1209, SB1210, SB1470, SB264, SB924, SB1029, SB1185, SB1202, SB1358, SB1364, SB1569, SB1697, SB1376, SB1228, SB519, SB878, SB1350, SB462, SB1535, SB827, SB1585, SB207, SB1207, SB1619, SB1396, SB920, SB1484, SB1273, SB1741, SB7, SB927, SB1227, SB1229, SB1353, SB1366, SB1464, SB1709, SB1729, SB1733, SB1744, SB1772, SB1816, SB1841, SB2188, SB1147, SB879, SB1008, SB378, SB710, SB916, SB1019, SB1146, SB1194, SB1253, SB1499, SB213, SB925, SB1362, SR263, SR311, SR333, SCR8, SB2407, SB2722, SB2949, SB2407, SB2722, SB2949

Keywords: voter ID, citizenship, election integrity, constitutional amendment, voting rights, central bank digital currency, CBDC, Federal Reserve, digital dollar, digital currency, cashless payments, financial privacy, cybersecurity, government surveillance, financial surveillance, money laundering, terrorism financing, illicit finance, banking policy, monetary policy

Transcript Highlights:

• Welcome, everybody, to our Government Finance Transportation Study Subcommittee meeting.
• Despite the significant gap in revenue hours and miles, we provided 43,313 more CAT trips than we did
• They do also help fill in some of the gaps when we need them to take on additional routes when we have
• summary of this subcommittee's activities for the 2025-26 interim for inclusion in the Government Finance
• Subcommittee does recommend to the full Finance Committee that we do recommend that there should be some

Keywords: 908, all

Summary: The Government Finance Transportation Study Subcommittee met to review fixed-route transit systems and related funding needs. After approving the prior meeting minutes, the committee heard presentations from Cities Area Transit in Grand Forks/East Grand Forks, Bisman Transit in Bismarck-Mandan, and MATBUS/Fargo, along with comments from North Dakota Protection & Advocacy. The transit agencies described their routes, paratransit services, ridership trends, fare structures, fleet replacement needs, and rising operating costs, emphasizing that transit supports access to work, school, medical care, and other essential services. Testimony also noted that ridership fell during the pandemic and has been recovering, while vehicle and maintenance costs have risen sharply. Grand Forks transit reported 17 routes, a recent fare increase, and operating costs that exceed fare revenue, with paratransit service extending beyond the federal minimum service area. Bisman Transit outlined its fixed-route and paratransit operations, recent service expansions, local mill levies, sales tax support, and federal grant structure, and said it is seeking more stable funding and flexibility beyond paratransit-only support. Minot’s transit superintendent explained the state’s existing transit aid formula, the use of refurbished buses, and the challenges of driver recruitment and electric bus infrastructure. Fargo asked for additional state support for fixed-route urban transit. Committee members discussed whether ride-share services could replace transit, the cost per trip, local match requirements, and whether a separate state funding source should be recommended for the four urban fixed-route systems. The subcommittee ultimately approved a motion to have Legislative Council prepare a summary of its activities for inclusion in the full Government Finance Committee report, and members indicated they would seek more detailed funding figures from the transit agencies before making any specific recommendation.

Transcript Highlights:

• housing, including new construction and rehabilitation of their homes. an existing building and financing
• reserves on a development, which would be a fund raised that can be drawn upon annually to fill the gap
• What we find is that there's always a gap that exists between the services we receive and the quality
• And so they are financing that. They needed a 14% levy increase.
• Sort of the policy and finance parts will be carried in the HHS or in the Human Services bill?

Transcript Highlights:

• digital assets are not. to circumvent existing laws on money laundering, tax evasion, or illicit financing
• We're looking forward to hearing what you have to say and sharing your expertise in why there are gaps
• Prevent money laundering and terrorism financing and other illicit uses of our financial system.
• Cohen, where do you think the biggest gaps are for the U.S.?
• So the gap, I think, is largest when you're talking about unhosted wallet transfers.

Keywords: Digital Assets, Bitcoin, Stablecoins, Legislation, Bipartisan, Consumer Protection, Regulatory Framework, Financial Innovation, Testimony

Summary: The inaugural meeting of the Digital Assets Subcommittee brought a wave of excitement and anticipation regarding the future of digital assets, including Bitcoin and stablecoins. Chair Lummis expressed gratitude towards Senator Scott for establishing the subcommittee, indicating a commitment to promote responsible innovation while safeguarding consumers. Members discussed the necessity for a bipartisan legislative framework to regulate digital asset markets effectively while outlining the potential benefits such legislation could have on enhancing financial inclusion and streamlining payments. The meeting featured expert testimonies from key figures in the digital asset industry, highlighting the importance of creating clear regulatory guidance for digital assets to foster innovation without compromising consumer protections.

Transcript Highlights:

• Texas is facing a growing skills gap and an urgent need for a more skilled workforce.
• The Texas State Technical College system is uniquely positioned to help close this gap. by providing
• About, well, if we do this, how are we going to finance it? Or how are people going to finance it?
• Anyone who doesn't have the finances and wants to contest, and there's due process with conference...
• If we're gonna focus on the fact that they may not have the finances...

Bills: HB1022, HB2856, HB3114, HJR5, HB6, HB120, HB210, HB1458, HB1188, HB3126

Keywords: HB 1022, Sul Ross State University, Rio Grande College, Texas State University System, Education Code, higher education, course levels, upper-level college, lower-division courses, community college-style courses, Del Rio, Eagle Pass, Uvalde, Board of Regents, academic programs, university expansion, HB 2856, Texas Higher Education Coordinating Board, clinical training placements, clinical rotations

Transcript Highlights:

• through a public finance market and bond issuance.
• Alabama Charter School Finance Alabama Charter School Finance Authority,<00:04:14.959> which<
• access to those uh private finance access to those uh private finance markets,<00:04:21.440>
• You know, we’re going to work to fill those gaps as best we can.
• Uh our fill those gaps as best we can.

Bills: SB62, HB361, HB244, HB377, HB411, HB422, HB423, HB425, SB16, HB452, HB354

Keywords: SB62, Alabama, conservation and natural resources, hunting license, fishing license, wildlife heritage license, license identification, government-issued ID, residency determination, in-state residency, student residency, tuition classification, public higher education, domicile, resident status, Department of Conservation and Natural Resources, DCNR, Section 9-11-32, Section 9-11-33, Section 16-64-3

Transcript Highlights:

• The bill simply aims to fill that gap.
• The bill simply aims to fill that gap. The bill simply aims to fill that gap.
• about in finance. about in finance.
• I hope you'll send the bill to finance. I hope you'll send the bill to finance.
• We're taking advantage because we know she's on Finance, but you have half of Finance here.

Keywords: 1189, house, all

Transcript Highlights:

• I'll call the House Agriculture Finance and Policy Committee meeting to order. Welcome, everybody.
• and what does the finance community look for when they're supporting small processors.
• this morning of the rural finance this morning of the rural finance Authority<00:34:02.639> and
• And you can see there I kind of put a little line there saying, look at that gap.
• look at that Gap that Gap is really look at that Gap that Gap is really starting<01:15:31.440>

Keywords: 1183, house

Transcript Highlights:

• I'm a finance consultant at MRSC. So I'm here today to talk about tax increment financing.
• So I'm here today to talk about tax increment financing.
• And basically what tax increment financing is, is a financing tool to fund public improvements that will
• It is finding access to long-term financing.
• It would be managed by the Housing Finance Commission and the Co-op mortgage financing.

Summary: The Senate Housing Committee heard presentations on a range of housing finance, permitting, and affordability tools. Chattanooga described its affordable housing PILOT program, which uses a per-unit property tax abatement tied to the rent loss from providing affordable units, with a 15-year term and annual compliance monitoring. Committee members asked about the program’s structure, whether it had been used elsewhere, and who was participating; the presenter said the first mixed-income project would bring 278 units with 42 affordable units and that the model was attracting private market-rate developers. Shoreline then described its MFTE and inclusionary zoning approach, emphasizing that longer tax exemption periods and station-area zoning changes had helped spur development, with most current pipeline projects concentrated near light rail stations. The committee also heard from the Municipal Research Services Center and the Department of Commerce on tax increment financing, proportional impact fees, and permit timelines. Commerce explained that TIF can fund public improvements such as roads, utilities, broadband, and some affordable housing or child care facilities, while proportional impact fee guidance is intended to help jurisdictions charge fees more closely aligned with actual project impacts. On permit timelines, Commerce presented its first annual report under recent law changes, using 2024 as a baseline year and noting that reported timelines were generally longer than statutory goals; members asked about outliers, paper versus electronic processing, and whether back-and-forth between applicants and staff was driving delays. Commerce said it would follow up with more data, including on CHIP funding and permit reform practices. Several local governments then shared permitting process improvements. Auburn reported relatively short review cycles and described its move to fully electronic permitting, internal performance standards, and a stock plan program that speeds review for repeated home designs. Bellevue described an AI permitting pilot with a local startup to help with pre-application questions, document triage, and plan review, aiming to reduce incomplete applications and revision cycles. Seattle presented a pilot for accessory dwelling unit co-development in which a mission-driven partner would help homeowners split lots, finance, build, and manage ADUs, with the homeowner eventually buying out the partner and retaining ownership; committee members asked about rent setting, management fees, and default risk, and staff said they would follow up. The committee also heard brief overviews of community land trusts and limited equity cooperatives as permanent affordability models, with presenters urging continued state and local funding support and policy recognition for these approaches.

Transcript Highlights:

• Justin Hurst, Department of Finance.
• Elena Powell, Department of Finance.
• Justin Hurst, Department of Finance.
• Department of Finance.
• Finance, welcome. Good afternoon again, Devin Mitchell with the department. of Finance.

Keywords: 988, house, all

Transcript Highlights:

• The gap between supply and demand grew wider and wider and wider.
• And so our goal internally is to close that gap first.
• And so our goal internally is to close that gap first.
• For some of these individuals, there have been gaps in their education.
• in their knowledge, gap in their education, and getting them the funds to make it feasible.

Keywords: 959, house, all

Transcript Highlights:

• Today in finance, the chair lays out HJR2 by Chairman.
• HJR7 represents a historic opportunity to help close that gap.
• For decades, state-level financing programs in Texas have been a critical resource allowing communities
• programs will cover roughly 25 percent of this need, and this will leave a long-term water funding gap
• . ...an infrastructure funding gap of just north of $110 billion.

Bills: HB3077, HJR2, HJR7, HJR7

Keywords: alcohol, taxation, reporting requirements, sales, distribution, death tax, inheritance tax, estate tax, property transfer, constitutional amendment, water fund, Texas water supply, state revenue, infrastructure, HJR 7, Texas Legislature, quorum, majority quorum, two-thirds quorum, legislative procedure

Transcript Highlights:

• industry partners, such as computer information systems, cyber security. social work, health sciences, finance
• We're proud to be a part of helping to fill this gap and have a successful track record of developing
• We need additional support in our HR area, in our finance area, and our IT area.
• Texas faces a significant skills gap with 54% of jobs in Texas requiring some form of post-secondary
• Community colleges play a vital role in closing this gap by providing affordable, accessible pathways

Keywords: 1184, house, all

Transcript Highlights:

• His efforts prove it's never too late or too early to learn how to manage your finances.
• His efforts prove it's never too late or too early to learn how to manage your finances.
• His efforts prove it's never too late or too early to learn how to manage your finances.
• And today I hear from our generals and our CEOs both about what these gaps mean for our country.
• And today I hear from our generals and our CEOs both about what these gaps mean for our country.

Keywords: U.S. House of Representatives Floor Proceedings on Monday, March 24, 2025, 1012, house, all

Transcript Highlights:

• The Senate Committee on Finance will come to order.
• Good morning, and thank you, Chair Huffman, and Senate Finance Committee members for hearing this bill
• But thanks to the leadership of Senate Finance Chair Huffman, House Pension and Investments Committee
• But thanks to the leadership of Senate Finance Chair Huffman, House Pension and Investments Committee
• PTOs, but when the motor fuel tax code was rewritten, diesel was inadvertently excluded, leaving a gap

Bills: HB135

Keywords: civil liability, motor vehicle, legal protection, removal, animals

Summary: The Senate Finance Committee heard Senate Bill 2345, as a committee substitute, which would reform the Austin Firefighter Retirement Fund. Senator Schwertner explained that the bill is based on an agreed voluntary funding soundness restoration plan between the City of Austin and the fund, and would create a new reduced benefit tier for firefighters hired on or after January 1, 2026, adjust COLAs for current retirees, establish an actuarially determined funding model to address legacy liabilities and 2024 asset losses over 30 years, and add new board seats. Mayor Kirk Watson, city finance staff, the fund executive director, trustees, and retired firefighters all testified in support, describing the measure as an agreed-to, fiscally responsible compromise that protects benefits, supports recruitment, and reduces risk to taxpayers. The committee adopted the committee substitute, but left SB 2345 pending. The committee also heard House Bill 135, which clarifies tax treatment for exotic game or exotic livestock operations by defining them within agricultural exemptions and stating that sales of exotic livestock are not subject to sales and use taxes. Senator Flores described it as a clarification to provide consistency and fairness, and a witness for the Exotic Wildlife Association said it would resolve a Comptroller-related tax issue and benefit ranchers, landowners, and hunters. The committee closed public testimony and reported HB 135 favorably to the full Senate, with a motion to place it on the local and uncontested calendar. Senate Bill 771, by Senator Hinojosa, was also heard and later reported favorably. The bill would allow diesel fuel used in auxiliary power units or power takeoff units to qualify for the same fuel tax credit or refund already available for gasoline, correcting an inadvertent exclusion from the 2003 motor fuel tax rewrite. A witness supported the bill as a matter of tax equity. The committee then considered House Bill 1109, the House companion to SB 935, which exempts counties from certain motor fuel taxes on fuel used in county vehicles; Senator Hall explained it as simply exempting government agencies from paying the tax on their own vehicles. HB 1109 was reported favorably to the full Senate. The committee adjourned after completing its business.

Transcript Highlights:

• I call this meeting of the Committee on Public Safety, Finance, and Policy to order.
• c> where<00:37:37.400> that Education Finance Committee where that Education Finance Committee
• It's being used as a vehicle for the public safety finance bill.
• So on the top line, it's House File 1082 public safety finance with an E.
• <01:07:01.320> package policy package and this finance package policy package and this finance

Bills: HF4446, HF4066, HF1082

Keywords: public safety officer, survivor benefits, line of duty death, occupational cancer, firefighter, police officer, paramedic, EMT, correctional officer, first responder, workers' compensation, death benefits, occupational exposure, carcinogen, cancer presumption, mesothelioma, leukemia, lung cancer, post-traumatic stress disorder, PTSD

Transcript Highlights:

• The Chair called the Education Finance Committee meeting to order for Thursday, February 13th.
• Chair, I'm going to turn over to our agency finance director to talk a little bit.
• Chair, I'm going to turn over to our agency finance director to talk a little bit.
• Chair, I'm going to turn over to our agency finance director to talk a little bit.
• Our agency finance director to talk a little bit.

Keywords: 1183, house