Transcript Highlights:

• We'll let them use the minimum rate.
• Here, we're just adjusting the rate.
• rate.
• It's not just an interest rate.
• Are those out-of-state interest rates?

Bills: HB886, HB1514, HB2434, HB2688, HB2802, HB3161, HB3221, HB4029, HB4339, HB4591, HB4774, HB4802, HB4853, HB5627, SB1737

Keywords: retirement, supplemental payment, benefits, Employees Retirement System, eligible annuitants, legislation, annuity, service credit, Employees Retirement System of Texas, employee benefits, pension reform, public retirement systems, municipality pensions, firefighters, police officers, retirement age, DROP program, actuarial studies, pension benefits, municipal retirement

Transcript Highlights:

• </c> the darkest color, the biggest rate the darkest color, the biggest rate increase<00:18:43.679><c
• </c> rates for that reason, actually. Mr. rates for that reason, actually. Mr.
• uh interim rate statute allows rate<00:21:40.480><c> regulated</c><00:21:41.200><c> utilities</c><00
• The delta between the interim rate amount and the final rate amount, when the commission does approve
• We can't control our rates.

Keywords: 1187, senate, all

Transcript Highlights:

• So again, we have replaced the regional market rate study as a way of looking at rates and moved to a
• And so if you put the cost-of-care-plus rates in the base rate, then those dollars would be adjusted
• So we have an alternative methodology for assessing rates. ...of our rates, so we have an alternative
• methodology for assessing rates, setting rates that are informed by the alternative methodology, as
• We keep going at this rate. If we keep going at this rate.

Keywords: 988, house, all

Transcript Highlights:

• This amendment would introduce a market rate survey response rate requirement.
• If a rate region does not achieve 65% yet has a response rate above 40% and has also improved Yet has
• a response rate above 40% and has also improved the response rate in that rate region from the prior
• This would also allow the survey results for that rate region to be valid for purposes of future rate
• This means that if one rate region satisfies the response rate requirement, a statutory rate increase

Bills: HB2487

Keywords: insurance tax, state regulation, insurers, taxation, budget impact, 904, all

Transcript Highlights:

• and Behavioral Health home rates to the DHS study calculation, as these rates do not have an equivalent
• These rates have fallen too far behind, and when rates can't keep up, services are cut, communities are
• These rates have fallen too far behind, and when rates can't keep up, services are cut, communities are
• These rates have fallen too far behind, and when rates can't keep up, services are cut, communities are
• rate?

Keywords: 1187, senate, all

Transcript Highlights:

• Current growth rates are at 3.5% year-to-date.
• The second point that involves a match rate is under H.R. 1: if you have a high error rate, you have
• error rate between 2025 and 2026.
• Now, again, I don't know what happens between a preliminary error rate and a final error rate... ...what
• happens between a preliminary error rate and a final error rate, and you also have the last, and they

Summary: The Committee of Appropriations met on January 21, 2026, and first considered House Bill 2116, which would appropriate $1 million in fiscal year 2027 to the Colorado River Litigation Fund. The sponsor and Arizona Department of Water Resources both supported the bill, describing it as a backup measure to protect Arizona’s Colorado River entitlements if post-2026 negotiations among the basin states fail. Members discussed how the bill relates to the governor’s separate Colorado River Protection Fund proposal, and staff clarified the two funds serve different purposes. The committee approved HB 2116 on a 17-1 roll call vote. The committee then took up House Bill 2053, which would provide $100,000 for updated stormwater recharge mapping and expand the work beyond state trust lands to private lands. An amendment in the chair’s name was adopted to extend the coordination timeline, broaden the agencies involved, and revise language about mapped sites and appropriable surface water. The sponsor said the bill is intended to identify more places to capture stormwater for recharge rather than letting most rainfall evaporate. ADWR testified neutrally, supporting the mapping effort but raising a concern about language that could be read as requiring the department to determine whether water is appropriable, which it said is a legal question for the courts. The amended bill passed 11-7. House Bill 2148, as amended, was then heard and approved 11-7. The bill would give the legislature authority to appropriate non-custodial federal monies and set requirements for those appropriations. The chair’s amendment excluded federal research grants to universities, university employees, and the Arizona Board of Regents. The sponsor framed the bill as a transparency measure, saying the legislature should know how federal funds are being spent. No outside testimony was offered, and the committee approved the measure after debate about legislative oversight of federal funds. After the bills, the committee received a lengthy JLBC presentation comparing the executive budget with the JLBC baseline. Discussion focused on revenue forecasts, tax conformity, sports betting, lottery and tourism revenue assumptions, SNAP administrative costs and error-rate penalties, developmental disability and Access caseload growth, and K-12 enrollment and ESA spending. Members repeatedly questioned the executive budget’s use of one-time funding for ongoing costs, especially for SNAP administration and DES staffing, and expressed concern about rising supplemental needs and the lack of long-term budget capacity. No votes were taken on the presentation.

Transcript Highlights:

• The second point that involves a match rate is under H.R. 1: if you have a high error rate, you have
• error rate between 2025 and 2026.
• Or fiscal '26 error rate.
• Now, again, I don't know what happens between a preliminary error rate and a final error rate... ...what
• happens between a preliminary error rate and a final error rate, and you also have the last, and they

Bills: HB2053, HB2116, HB2148

Keywords: stormwater, recharge mapping, water resources, groundwater, appropriation, Arizona, HB2116, Colorado River, litigation fund, water rights, Arizona water law, general fund appropriation, state budget, interstate water compact, Colorado River Compact, water litigation, A.R.S. 45-119, natural resources, water policy, river management

Transcript Highlights:

• This comparable rate.
• They're now getting better rates than on the accounts. They get better rates than it.
• One rate. The Wall Street Journal is not the rate that the the FLA gets paid from.
• The Fed funds rate was 4.5, the interest rate was 7.5%. The Fed funds rate was 4.5, 9%. Thanks.
• to lending when we tie the rates for the Iowa accounts to lending rates as opposed to savings rates,

Keywords: 999, senate, all

Transcript Highlights:

• continue remaining below the national unemployment rate, and our labor force participation rate is forecast
• The rates were changed to whatever CMS...
• The intermediate care and nursing health rates are fine. They're not part of the phased-down rates.
• State rate comparisons: this is averaging the state and local rates together, and you'll see that West
• State rate comparisons: this is averaging the state and local rates together.

Keywords: 994, senate, all

Summary: The Senate Finance Committee met with a quorum present and first approved the minutes from the January 15 morning meeting. The main agenda item was the Department of Revenue’s budget and revenue presentation from Secretary Eric Nelson, Deputy Secretary Peter Shirley, and Deputy Secretary Mark Mucco. Nelson said the state remains double-A rated with a positive outlook, the budget includes a 5% personal income tax reduction, and the 2027 general revenue estimate is $5.493 billion, up $170 million from the prior year. Shirley gave an economic overview, saying West Virginia is forecast to see continued but slowing employment growth, continued wage growth, gains in private education/health services and business services, declines in some sectors, improving labor force participation relative to the nation, and strong recent net in-migration. He also noted continued growth in natural gas production and a modest rebound in coal production, though coal faces longer-term demand pressure. Mucco reviewed revenue trends and said 2025 collections were about $5.5 billion, below the prior year but above estimate, with personal income tax and sales tax driving the surplus. He explained that the forecast incorporates the 5% PIT cut and annual conformity to the federal One Big Beautiful Bill Act, including changes such as Section 179 expensing, bonus depreciation, R&D expensing, business interest deductions, and a new manufacturing facility expensing provision. He also discussed the effects of tax credits, severance tax volatility, declining tobacco revenues, and health care provider tax changes tied to federal Medicaid rules. He said road fund revenues are largely flat absent policy changes, and county commission revenues are growing faster than state revenues. Members asked about when new economic development projects like NewCore would appear in the projections, how much 20,000 new jobs would matter, whether the department had a calculator for job-growth impacts, the status of recent tax cuts, road fund growth, tobacco/vape taxation, and whether migration data could be broken down by county. The witnesses said major projects are not yet in the S&P-based forecast but would likely add jobs, wages, and tax revenue over time; they estimated 20,000 jobs would be a significant increase. They also said the state is unlikely to hit the current personal income tax trigger in the near term. No substantive votes were taken beyond approving the minutes, and the committee adjourned after a motion carried by voice vote.

Transcript Highlights:

• as the sum of the home care agency administrative rate and the portion of the vendor rate dedicated
• For this administrative rate, the rate-setting board may not make a recommendation that is more than
• rate.
• rate.
• of voting members on the rate-setting board prior to August 1st, then the rate must be determined by

Summary: The Appropriations Committee held a public hearing on several bills. Senate Bill 5109 would raise the mortgage lending fraud prosecution surcharge on recorded deeds of trust from $1 to $5 and remove the 2027 sunset on the surcharge and account. Committee staff said the change would generate additional revenue for county auditors and the Department of Financial Institutions to contract with prosecutors; King County and the Washington Association of Prosecuting Attorneys testified in strong support, saying the current funding has eroded and the bill would better sustain mortgage fraud prosecutions. A question was raised about whether other budget funding could serve a similar purpose, but supporters said the dedicated surcharge/account structure was the best fit. No vote was taken. The committee also heard Engrossed Substitute Senate Bill 5500, which would require DCYF’s biennial child care report to include a current cost-of-quality study in addition to the market rate survey. Testifiers from Child Care Aware of Washington, child care providers, and the early education design team supported the bill, saying the market rate survey alone does not capture the true cost of providing quality care. Staff said the bill would have a small fiscal impact for DCYF. The committee then heard Substitute Senate Bill 5834 and Senate Bill 5835, both Department of Retirement Systems request bills: one would broaden use of pension fund interest earnings for fund-protection expenses beyond the 2025-27 biennium, and the other would raise the threshold for lump-sum payment of small monthly benefits from $50 to $250. Neither bill drew public testimony, and staff said the fiscal impacts were minimal. Later, the committee heard Engrossed Senate Bill 5872, which would create the Pre-K Promise Account for ECAP funding and allow gifts, grants, and donations to be used solely to expand the program. Supporters including rural health coalitions, the Balmer Group, and Snohomish County said the account would help expand access to early learning, especially in child care deserts; DCYF estimated staffing costs to administer the account. Substitute Senate Bill 6007 would direct WSIPP to study DCYF’s child welfare screening tools and their effects on outcomes, with a reported cost of about $234,000; there was no public testimony. Engrossed Substitute Senate Bill 6019 would clarify home care agency rate-setting and require that no more than 20% of Medicaid home care rates go to administrative costs, with DSHS saying there would be no fiscal impact. Labor and caregiver witnesses supported it as a parity and accountability measure. Finally, Senate Bill 6065 would allow school districts in binding conditions or enhanced financial oversight to use transportation vehicle funds more flexibly, including temporary loans or permanent transfers with approval; a rural education representative supported the bill, and staff said OSPI would incur only modest administrative costs. The committee took no final action and adjourned after the hearings.

Transcript Highlights:

• It will limit health insurance costs in rate setting and phase out planned closure rate agreements and
• So the rates they developed were looked at the cost of staff, Nosh rates, admin percentages, etc.
• And the rates that they brought forth for substance use disorder rates, there are nine distinct rates
• So the rates they developed were looked at the cost of staff, Nosh rates, admin percentages, etc.
• And the rates that they brought forth for substance use disorder rates, there are nine distinct rates

Keywords: 1183, house

Transcript Highlights:

• Children's rates were benchmarked in 2007 to the private commercial rate reimbursement rate.
• So how the rate methodology happened in 2007 was the children's rates were benchmarked to a private rate
• rate.
• increase in three rates, three service codes, to match the adult rate to the children's rate.
• To some level of rate parity with the children's rates.

Keywords: 962, all

Summary: The MAPOC Women and Children’s Health Subcommittee heard a presentation from Kate Parker Riley, executive director of the Connecticut Dental Health Partnership, on the Husky Dental Program and efforts to improve oral health during pregnancy. She reviewed the structure of Connecticut’s Medicaid dental benefit, the ASO model, provider network, utilization trends, and member barriers to care. She noted that children’s dental measures remain above the national median, but adult utilization is lower and the dental provider network has been shrinking, with longer wait times in rural areas. A major focus was the state’s goal to raise the rate of oral evaluation during pregnancy from about 17.5% to 25% by 2030. Riley described planned outreach to OB/GYN practices using a draft “snapshot” report showing each practice’s pregnancy oral-health rate compared with the state average, along with education materials based on ACOG and AAP guidance. Committee members and guests discussed barriers such as lack of provider training, workflow burden, access to dentists who will see pregnant patients, and the need for stronger referral bridges. Suggestions included adding simple oral-health screening questions in OB settings, using human support to make appointments, and exploring co-located dental hygienists or other embedded models. Riley also highlighted partnerships with DSS, DCF, Head Start, WIC, Read to Grow, YMCA programs, refugee resettlement agencies, and school-based and hospital partners, as well as data-sharing and navigation efforts. She said pregnant members newly identified through HUSKY will now receive outreach and navigation support. DSS dental director Carolyn MacArthur introduced herself and said she supports the initiative, noting the literature linking untreated maternal dental disease to poor child oral-health outcomes. No votes were taken; the meeting ended with thanks and a preview of upcoming July presentations on integrated behavioral health and home visitation programs.

Transcript Highlights:

• The rate is capped at 1.2%. For 2026, the rate was set at 1.13%.
• The rate is capped at 1.2%. For 2026, the rate was set at 1.13%.
• in the next four years, while limiting fluctuations in premium rates, and by the end of the rate collection
• below the actuarially indicated rate for any risk class and when doing so results in a premium rate
• below the actuarially indicated rate for any risk class and when doing so results in a premium rate

Summary: The Labor and Workplace Standards Committee held public hearings on several labor-related bills. SB 6197 would change plumbing license suspension rules from three infractions in three years to five infractions in five years, remove the advisory board recommendation requirement, and require L&I enforcement updates; the sponsor said the bill was narrowed after stakeholder talks, though one transition-timing issue remained unresolved. SB 6134 would require the Employment Security Department to notify striking workers applying for unemployment benefits that they may later owe overpayments if they receive retroactive wages; the sponsor and a testifier said the bill would prevent workers from being paid twice. SB 5292 would replace the PFML program’s statutory look-back premium formula with a forward-looking actuarial method while keeping the 1.2% cap and adding a four-month reserve requirement; labor, business, and policy witnesses offered support or concerns about the reserve. SB 6106 would exempt tribes and tribally owned businesses from the state WARN-style notice law and protect affected workers’ names and addresses from public disclosure; ESD and business groups supported it, while agricultural witnesses asked for a future fix for seasonal agriculture. The committee then moved into executive session on six bills. It adopted amendments to ESSB 5847, which expands access to medical care in workers’ compensation, including allowing certain outside-network providers and authorizing additional claims managers; the bill was reported out 7-2 as amended. SSB 6014, a cleanup bill correcting a date typo and protecting sensitive L&I records from public disclosure, passed unanimously. SSB 6039, allowing L&I to use electronic communications while offering a non-electronic option first, also passed unanimously. ESSB 6058, giving L&I discretion to prioritize wage complaints, was amended to align with the House companion and then passed unanimously. SB 6136, requiring publication of actuarially indicated workers’ compensation rates and disclosure when rates are set below them, passed unanimously. On SB 6188, which would expand L&I’s asbestos-certification rulemaking authority, the committee rejected an amendment that would have restored current-law limits and instead passed the bill without amendment. Members supporting the bill said it would let Washington strengthen asbestos protections if federal standards weaken, while opponents argued it could create conflicting requirements and unnecessary regulatory expansion. The bill was reported out 6-3. The committee adjourned after announcing the votes and noting it would reconvene the next day.

Transcript Highlights:

• I want to focus on the utility rates.
• in order to make up for any rate increase that they otherwise would have increases in utility rates
• Chairman, does your bill lock in current revenue or lock in current tax rates? It's rates.
• As part of that process, USDA required the town to conduct a rate study and adjust our utility rates
• But yes, we froze the rate, and with the frozen rate, the overall revenue for primary tax still went

Bills: HB2780, HB4029, HB4030, HCR2052

Keywords: judicial foreclosure, tax lien, redemption rights, excess proceeds, property auction, income tax, federal tax conformity, revenue analysis, legislative session, tax reporting, municipal fees, county fees, utility rates, moratorium, tax classification, local government, inflation, economic stability, tax increases, cost-of-living protection

Transcript Highlights:

• You can also see the pass rates here and the comparison to the U.S. pass rate.
• in 2024 pass rates.
• Rates are not at the national average. And what 88% is the national average of pass rate.
• Rates have exceeded the national average and are pass rate for 2024. Was also 94%.
• Rates is 96%.

Keywords: 999, senate, all

Transcript Highlights:

• This amendment would introduce a market rate survey response rate requirement.
• If a rate region does not achieve 65% yet has a response rate above 40% and has also improved Yet has
• a response rate above 40% and has also improved the response rate in that rate region from the prior
• This would also allow the survey results for that rate region to be valid for purposes of future rate
• This means that if one rate region satisfies the response rate requirement, a statutory rate increase

Summary: The Ways and Means Committee met in executive session on March 10, 2026, and first reviewed engrossed House Bill 2487, which concerns taxes imposed on insurers. Staff explained the bill’s B&O tax exemption changes, the advanced computing surcharge adjustments, and the preliminary fiscal note. Amendment 1 had been withdrawn before action. The committee then considered and rejected Amendment 2, which would have further lowered the surcharge cap; Amendment 4, which would have removed retroactivity for tax payments; and Amendment 5, a striking amendment that would have conformed the B&O exemption to a court decision and removed the advanced computing surcharge provisions. The committee then advanced HB 2487 to the Rules Committee with a due pass recommendation. The committee next took up Substitute House Bill 2689 on the Working Connections Child Care Program. Staff described the bill’s changes to attendance-based reimbursement, rate-setting, and eligibility, with an estimated four-year savings of $565 million. Amendment 6, offered by Senator Wilson, was adopted and changed the market rate survey response threshold by delaying the 65% requirement and allowing validity with lower response rates under certain conditions. Amendment 7, offered by Senator Robinson, was also adopted and revised the attendance reimbursement tiers, with staff indicating it would increase projected savings to about $770 million over four years. The amended bill was then moved to the Rules Committee with a due pass recommendation. Finally, the committee considered engrossed House Bill 2681, which raises annual issuance and renewal fees for cannabis producer, processor, and retail licenses by $400. Staff said the bill would increase deposits to the dedicated cannabis account by about $866,000 per year, or $2.6 million over four years. With no amendments offered, the committee approved HB 2681 and sent it to the Rules Committee with a due pass recommendation. The meeting ended with thanks to staff and adjournment.

Transcript Highlights:

• Upon a payment error rate.
• Higher rate of 10% of error rate share.
• </c> the state error rates. the state error rates.
• </c> do to make sure the air rates lower? do to make sure the air rates lower?
• </c><01:04:19.039><c> It</c> affect error rates? It affect error rates?

Keywords: Meeting Start 00:00:00 FY 2025 Budget Close Out 00:02:55 Impressions of H.R. – 119th Congress 00:28:15 SNAP Payment Error Rates 00:37:05, 958, all

Summary: The committee first established a quorum, approved the July minutes, and recognized Jennifer Hayes of the Department of State Budget Director for her retirement and long service. Secretary Hicks then presented a review of fiscal year 2025 closeout for the general fund and road fund, explaining that the general fund ended with a $313 million surplus and the road fund with a $61 million surplus. He attributed the general fund result to strong corporate income and LLC tax receipts, investment income, and lower-than-budgeted spending, while noting that individual income tax and sales tax underperformed estimates. He also described how the general fund surplus was allocated, with $62 million used for necessary government expenses and $251 million deposited into the budget reserve trust fund, which remained at historically strong levels. For the road fund, he said the surplus would be deposited into the Department of Highways construction account, and he highlighted record motor vehicle usage tax receipts despite lower motor fuels tax revenue due to a rate decline. Members asked questions about the pass-through entity tax, delayed filing deadlines, THC beverage sales, and income tax collection from undocumented workers. Hicks said the pass-through entity tax remains difficult to model because of timing issues and the first year’s unusual filing pattern, and that staff are still working with the Department of Revenue and other states to improve forecasting. He said the delayed filing deadline likely would not require a major restatement and that any related receipts would still be counted in fiscal 2026. On THC beverages, he said the issue would be considered in the next forecasting cycle. On the undocumented-worker question, he said withholding may capture some of the revenue but referred broader collection efforts to the Department of Revenue. The committee then shifted to an overview of the federal reconciliation act’s potential impact on the next biennial budget, with Hicks and Commissioner Lisa Dennis focusing on Medicaid and SNAP. Hicks said the Congressional Budget Office estimated roughly $900 billion in federal savings over 10 years, driven in part by work or community engagement requirements for the Medicaid expansion population and limits on state-directed payments. He emphasized that CMS still must issue regulations to define how the state-directed payment reductions will be calculated, making the exact fiscal impact uncertain. He referred members to a prior Medicaid Oversight Advisory Board presentation for more detail, and the discussion remained informational with no votes or formal actions taken on the federal changes.

Transcript Highlights:

• What is the rate on mechanics and what is the rate presently for body work?
• , similar to how mechanical warranty labor rates... ...prevailing market rates, similar to how mechanical
• It is important to note insurers regularly pay higher rates for mechanical shops, yet deny the same rates
• Again, it is based on an already substandard rate.
• do this for me, I'll work for that rate.

Keywords: 995, all

Summary: The Financial Services Committee heard testimony on several insurance, transportation, and labor-related bills. Senator Edwards supported bills addressing app-based delivery workers, arguing that food-delivery drivers should be treated as employees with protections and mileage reimbursement, and that a small surcharge on app-based deliveries could raise revenue for the Commonwealth and localities. Kevin Brousseau of the Massachusetts AFL-CIO also backed the delivery-worker bill, saying it would preserve employee status, add data transparency, and create a process for challenging deactivations. MAPC supported a bill to change transportation network company fees from a flat per-ride charge to a percentage-based assessment, saying the current fee is outdated and that a higher fee could raise more transportation revenue and help address congestion and emissions. A large portion of the hearing focused on auto insurance and collision repair issues. Insurance industry witnesses supported a bill to limit attorney’s fees in PIP cases by giving insurers 30 days after a complaint is served to pay amounts due without fee exposure, arguing that PIP litigation has surged, is clogging courts, and is being driven by out-of-state firms. They also opposed auto body labor-rate bills, saying the market is already adjusting and that a statutory floor is unnecessary. In contrast, auto body shop representatives and the Alliance of Automotive Service Providers of Massachusetts urged favorable action on bills to raise and regularly update collision repair labor rates, saying current reimbursement levels are far below market, have not kept pace with inflation or vehicle technology, and are making it hard to retain workers and keep small shops open. One witness also supported a bill to limit insurance surcharge points for low-damage accidents or minor moving violations. Committee members asked questions about deactivation rights for delivery workers, the mechanics of the PIP litigation issue, and the gap between body-shop and mechanical labor rates. Testimony emphasized that current auto body reimbursement rates are around the mid-$40s per hour, while mechanical work can be reimbursed at much higher rates, and that advisory-board discussions have produced only limited progress. At the end of the hearing, the chairs asked if anyone else wished to testify, then moved to close the hearing; the motion was seconded and approved unanimously.

Transcript Highlights:

• Florida's rate of pre-term deliveries fluctuate us over this time frame, though in 2023 2023 rates have
• With 2020 2022. 2023 rates below the 2019 rate.
• National rates available for comparison.
• While Florida Medicaid rates for this measure have remained below the national rates.
• While Florida's rate dropped by 6 percentage points, the national rate improve more than Florida's and

Transcript Highlights:

• Contribution rates are trending downward.
• It says adopted rates, but I just want to point out that those rates were actually enacted through legislation
• Impact projected contribution rates.
• Total employer rate.
• contribution rates from adopting the recommendation. ...and employer contribution rates from adopting

Summary: The committee approved the July minutes and then received an informational presentation from the Office of the State Actuary on the financial condition of the state retirement systems. The actuary reported that employer contribution rates are generally declining, helped by strong investment returns and reduced funding for PERS 1 and TERS 1, while funded ratios have continued to improve; on a combined basis the plans were reported at 100% funded in 2024, with open plans above 95% and legacy plans varying by system. The presentation also reviewed projected rates and funded ratios under current assumptions, noted that pension costs are taking a smaller share of the state general fund, and discussed risks from investment volatility, policy changes, and demographic experience. Committee members asked about savings from lower rates, deferred asset smoothing, and how Washington compares with other states. The committee then considered the state actuary’s recommendation on long-term economic assumptions and adopted all four recommendations by roll call votes: inflation at 3.0%, general salary growth at 3.5%, membership growth for Plan 1 funding at 1.0%, and investment rate of return at 7.25%. The actuaries explained that the inflation and salary growth increases were driven largely by higher long-term inflation expectations, while the investment return recommendation matched the current statutory assumption. Members discussed the timing of the Pension Funding Council’s decision, the effect of tariffs and inflation uncertainty, and how assumption changes would affect future contribution rates and budgets, particularly for open plans. Staff then gave an update on the LEOFF 1 study, explaining the difference between being “ahead of schedule” and truly overfunded, and summarizing responses received from DRS, the State Treasurer, and the State Investment Board on the merger and restatement proposals. DRS said both bills could be administered, though the merger bill’s COLA banking provision would be challenging until its new system is ready; the Treasurer urged caution, especially about the restatement bill and the use of one-time funds; and the Investment Board said removing assets from the trust would have some transaction costs but likely small impacts. The committee discussed whether to invite additional agencies and local government groups to testify, and staff said more responses, including from Ice Miller and the State Actuary, were expected for the October meeting. Finally, the committee heard a briefing on PERS 1/TERS 1 COLA policy and related bills from the last session. Staff reviewed the committee’s prior ongoing COLA recommendation, the SCPP-endorsed bills that would have created a one-time 3% COLA followed by an ongoing COLA, the Senate merger bill, and a separate ad hoc COLA bill. Public testimony largely supported Plan 1 COLAs and stable contribution rates, while several speakers urged caution about transferring LEOFF 1 surplus assets or merging legacy plans, and others raised concerns about climate risk and the pension fund’s investments. No further committee action was taken on the COLA item during this portion of the meeting.