Transcript Highlights:

• The program creates a powerful economic incentive to use cleaner, more efficient technologies, and it
• A completed rulemaking is important to support regulatory and investment certainty in this program.
• The market and regulatory certainty. I appreciate that's encouraging here.
• And to further expand on the Chair's response here, there's two pieces of regulatory action that we're
• We can, and we here, there's two pieces of regulatory action that we're undertaking.

Summary: The committee heard an overview of CARB’s proposed amendments to California’s Cap-and-Invest program, implemented under AB 1207 and SB 840 after last year’s reauthorization through 2045. CARB said the draft rule changes are intended to support affordability, market certainty, and the state’s 2030 and 2045 climate targets, while also addressing offsets, utility allowance transfers, leakage protections for industry, and post-2030 allowance budgets. Members emphasized the importance of completing the rulemaking on schedule this spring so the changes can take effect by September 1, 2026. A major focus was how allowances are allocated among electric utilities, natural gas utilities, industry, and the Greenhouse Gas Reduction Fund. CARB explained that the proposal transfers natural gas utility allowances to electric utilities over time to support electrification and ratepayer protection, while maintaining free allowances for industry to reduce leakage risk and preserve in-state manufacturing and refining. Several members and panelists questioned whether the proposed utility changes could raise rates, whether the transition from gas to electric credits should happen faster, and whether the industrial allocation changes reduce climate credit and GGRF revenues more than necessary. CARB and panelists said they were open to additional data and comments, and noted that the proposal is still in public comment. The committee also discussed carbon capture, carbon removal, and refining. Members asked CARB to ensure that CCUS and CDR are clearly recognized as viable compliance pathways and to keep SB 905 rulemaking on track. On refining, members raised concerns about imported gasoline, leakage, and the need for better data on the carbon intensity of imported fuels; CARB said cap-and-invest applies to fuel suppliers at the rack, while life-cycle accounting issues are handled more through the Low Carbon Fuel Standard and related modeling. CARB said it is continuing technical work on those data tools. In the second panel, the LAO, IEMAC, EDF, and SCAPA representatives generally agreed that the program faces real tradeoffs between affordability, ambition, and leakage protection. The LAO and IEMAC stressed that the Legislature should scrutinize how CARB divides the allowance “pie,” since more free allocations to utilities or industry mean less revenue for GGRF. EDF argued the program could be somewhat more ambitious in the near term without harming affordability, while SCAPA said the proposal would reduce allowances for publicly owned utilities and could undermine early decarbonization investments and ratepayer benefits. No votes were taken during the hearing.

Transcript Highlights:

• At Cedars-Sinai Hospital, they've found operational efficiencies that are reducing the length of stay
• It's at Cedar Sinai Hospital, they've found operational efficiencies that are reducing the length of
• And the bill that I'm proposing tries to balance those and say we should spend our scarce regulatory
• Our regulatory resources are scarce.
• That's the first place the state of Washington is going to focus our regulatory energy.

Bills: SB5609, SB6284

Keywords: cultural resources, land use, environmental policy, exemptions, state laws, artificial intelligence, consumer protection, regulation, data privacy, technological impacts, 904, all

Transcript Highlights:

• And so whatever comes along... regulatory system that currently exists regulatory system that currently
• So what this bill does is put in that regulatory framework.
• So what this bill does is put in that regulatory framework.
• </c> does is puts in that regulatory does is puts in that regulatory framework<01:25:12.679><c> it</c
• </c><01:25:33.960><c> program</c> and how much does the regulatory program and how much does the regulatory

Bills: HF1262, HF1741, HF472, HF1668, HF2055, HF1786, HF1876, HF1089, HF1121, HF509, HF1545, HF2027, HF642

Keywords: food truck, liquor license, temporary license, community events, catering, municipal regulations, food hall, St. Louis Park, on-sale, intoxicating beverages, food vendors, common seating area, HF472, Mankato, Minnesota State University Mankato, MSU Mankato, Taylor Center, special liquor license, on-sale wine license, malt liquor license

Transcript Highlights:

• In other words, you have a regulatory agency that sets guidelines.
• It increases vessel efficiency, which means less surface drag.
• This regulatory copper-based TMDL is really the underlying reason which brought us here today.
• This dichotomy represents an inherent regulatory conflict with TMDLs.
• It’s just really the process to keep the focus of this regulatory—these agencies coming together.

Keywords: 988, house, all

Transcript Highlights:

• Something that's been on everyone's mind recently is government efficiency in our state has been well
• Government efficiency task force on which I served as recommended.
• We're going to move to tab 2 Senate bill. 166 on administrative efficiency in public schools by Senator
• Regulatory framework was mentioned by one of the speakers. It's a fine for regulation.
• I'm minimal almost 9 and this regulatory framework will help you operate even better in your line.

Keywords: 999, senate, all

Transcript Highlights:

• ><c> trade</c><01:02:46.400><c> consequences</c> same regulatory or trade consequences same regulatory
• </c> establish a treated seed regulatory establish a treated seed regulatory program<01:08:56.719><c>
• </c> regulatory and permitting certainty. regulatory and permitting certainty.
• <c> that</c><01:41:39.679><c> allow</c> efficiency, and timelines that allow efficiency, and timelines
• ><c> decisions,</c><01:42:26.239><c> tax</c> consider how regulatory decisions, tax consider how regulatory

Keywords: 1187, senate, all

Transcript Highlights:

• I had hoped to talk to you today a little bit about the concept of regulatory capture and the flagrant
• I'm Bill Mannheim, Deputy General Counsel from PG&E, working on policy and regulatory issues.
• I'm Bill Mannheim, Deputy General Counsel from PG&E, working on policy and regulatory issues.
• One thing that I think we need to look at is how efficient can we make the current...
• One thing that I think we need to look at is how efficient can we make the current grid?

Summary: The committee first heard AB 13, which would restructure the CPUC to increase legislative oversight, add legislative liaisons, require more detailed and timely reporting on rate-setting decisions, and add a public advocate member. The author and supporters argued the bill would improve transparency, accountability, and geographic diversity in CPUC decision-making amid rising utility rates. Witnesses from TURN, San Joaquin County, SDG&E, and former CPUC Commissioner Loretta Lynch offered support or support-in-principle, while no opposition testimony was presented. Members generally praised the bill’s transparency goals, and AB 13 passed 10-0 to Appropriations, with the roll left open for absent members. The committee then adopted the 2025-2026 committee rules and approved three consent items: AB 61, AB 365, and AB 406. The next bill, AB 99, would cap investor-owned utility rate increases above inflation except for specified costs such as safety, modernization, and fuel/commodity costs. The author and supporters, including a representative of the California Senior Legislature, said the bill was needed to protect ratepayers, especially seniors and low-income customers, from repeated rate hikes. Opposition came from utility labor, utilities, the Chamber of Commerce, and others, who argued the bill was too simplistic, could suppress labor costs, and did not account for major cost drivers such as wildfire mitigation, mandates, and net metering. Several members supported moving the bill forward as a starting point on affordability, while others criticized it as overly blunt. AB 99 passed 11-0 to Appropriations, with the roll left open. The hearing then shifted to an informational panel on strategies to reduce California transmission costs. A Public Advocates Office staffer described a growing backlog of approved-but-unbuilt transmission projects, rising transmission access charges, and long project timelines driven largely by utility pre-application and construction periods. Panelists from Net Zero California and consulting firms presented research suggesting that public financing or public-private partnership lease models could reduce transmission costs by lowering financing, tax, and capital costs, with estimated savings of up to 57% and as much as $123 billion over 40 years. PG&E’s representative said the utility is already pursuing federal loan guarantees, grants, and a public-private partnership with Citizens Energy, but warned that state ownership could create tax, wildfire-liability, and governance risks. Members asked about the CPUC’s role, the causes of delays, and whether public financing could complement existing competitive solicitation processes.

Transcript Highlights:

• And then we have clear ideas on how best to plan and use those regulatory tools.
• Okay, and the question then is: what regulatory actions or legislative actions?
• We have decisions that get made on a regular basis, whether it's regulatory or otherwise.
• So you have older, smaller, less efficient refineries closing. And so I think...
• So you have older, smaller, less efficient refineries closing.

Summary: The Assembly Committee on Utilities and Energy held its annual oversight hearing on the transportation fuels sector, focused on California’s fuel transition, the announced refinery closures by Phillips 66 and Valero, and the potential effects on supply, prices, and the broader fuel system. Committee leadership said the state needs a system-wide transition plan rather than a piecemeal approach, and state witnesses from CARB, the CEC, and DPMO described the fuel market as a complex, interconnected ecosystem involving crude production, refining, storage, imports, and delivery. They emphasized that declining gasoline demand from EV adoption is occurring alongside shrinking in-state refining capacity, which could increase volatility and price spikes if not managed carefully. CARB Chair Liane Randolph reviewed the state’s climate and air-quality programs, including AB 32, SB 32, the 2022 scoping plan, the low-carbon fuel standard, and vehicle emissions rules. She said these policies have reduced emissions substantially but that California still faces major ozone and PM2.5 problems, especially in disadvantaged communities. Randolph also said federal actions challenging California waivers could complicate the state’s clean-air efforts, and she noted that while liquid fuels will still be needed in some sectors, the state must continue reducing fossil fuel dependence while protecting public health. CEC Vice Chair Siva Gunda and DPMO Director Ty Milder presented data on gasoline demand, refinery throughput, crude imports, and price differentials. Gunda said the Legislature’s special-session laws gave the agencies transparency and planning tools, and that the CEC is developing a fuels transition plan while evaluating whether any regulatory tools should be used. Milder previewed DPMO findings that Californians have paid a long-running “mystery gasoline surcharge” averaging 41 cents per gallon since 2015, with higher margins concentrated in branded gasoline and among vertically integrated firms. He said the data show a concentrated market with some refiners doing well and others struggling, and that DPMO will continue investigating price behavior, competition, and supply risks. Members pressed the witnesses on whether state regulations contributed to refinery exits or higher prices, and on whether the agencies had adequately analyzed consumer costs. Witnesses said they had not yet implemented the new permissive tools from SB X1-2 and AB X2-1 because they were still assessing risks and benefits, and they stressed that refinery closures and capital decisions are driven by broader market conditions as well as regulation. No vote was taken; the hearing was informational, with the committee seeking updates and urging the agencies to develop a practical transition strategy that balances affordability, reliability, climate goals, and worker/community protections.

Transcript Highlights:

• </c> boiler which is a lot lower efficiency boiler which is a lot lower efficiency but<00:09:35.360><
• </c><00:54:56.720><c> hot</c> high pressure or more efficient hot high pressure or more efficient hot
• </c><00:55:11.280><c> the</c> building uh it's very efficient the building uh it's very efficient the
• 99% combustion efficiency.
• Energy efficiency, right?

Keywords: 1189, house, all

Transcript Highlights:

• “This project will provide a new, more user-friendly and efficient online filing system that enables
• the gas utilities community to comply with regulatory requirements, provides functionality to create
• online filing system that enables the gas utilities community to comply with regulatory 119 requirements
• Regulatory and large animal veterinarians are scarce, and we must be able to recruit and retain those
• Adding this additional fleet manager will provide greater efficiency in the management of the fleet and

Summary: The committee met with a quorum present to hear Article VI Natural Resources agency budget recommendations, beginning with the Railroad Commission. LBB staff summarized the commission’s 2026-27 base recommendation at $458.7 million, down from the prior biennium, with an increased FTE cap. The presentation highlighted reduced federal IIJA funding, volatility in oil and gas regulation account 5155, continued support for IT modernization, and rider changes. The commission’s major exceptional items were then presented, including requests for produced water and injection data reporting, an authorized pit registration system, regulatory filing/permitting upgrades, an underground injection well investigation team, site remediation support, and especially $100 million for orphan well plugging. Members asked about biennium-to-biennium comparisons, salary biennialization, the scale of orphan well risks, federal funding delays, bonding, and whether the state should rely more on industry or general revenue for plugging costs. Commission leadership explained that orphan wells can threaten water and public safety, that plugging costs have risen sharply, and that current funding is insufficient to keep up with emergency wells and the backlog; they also said the agency is moving to cloud-based systems with cybersecurity protections and that the proposed performance measure may need adjustment if funding does not increase. The Railroad Commission testimony was followed by LBB and agency testimony for the Texas Animal Health Commission. LBB described a $42 million recommendation for 2026-27, an increase overall, but with a reduced FTE cap due to turnover and salary reallocation. The recommendation maintained funding for cattle fever tick work, chronic wasting disease, lab testing through an MOU with Texas A&M’s veterinary diagnostic lab, and a new $5 million spay-and-neuter pilot program, while deleting a capital budget rider and adjusting riders tied to entry point inspection stations and clinical trials. Agency leadership then outlined the commission’s mission to protect livestock health and the state’s $22 billion animal industry, and described major disease threats including highly pathogenic avian influenza, cattle fever ticks, New World screwworm, and chronic wasting disease. Their exceptional items focused on recruiting and retaining veterinarians, replacing fleet vehicles, creating an ectoparasite identification lab, adding field staff and IT support, improving records and epidemiology reporting, strengthening central administration, supporting secure food supply planning, expanding chronic wasting disease work, and staffing the new spay-and-neuter program. Members asked about field identification of ticks, the use of disinfectants and PPE, fleet management, the scale of cattle fever tick risk, and chronic wasting disease; the agency explained its current inspection and lab-confirmation process, its reliance on field disinfecting and biosecurity, and the need for more staff and better data systems to keep pace with growing workloads and disease threats.

Transcript Highlights:

• These are international standards indicating the efficiency of capturing gas.
• That level of fiscal and regulatory uncertainty discourages investment and job creation.
• We prefabricate homes that are 50 to 90% more energy efficient for generations.
• I urge your support of this bill to protect energy efficiency for New Mexico families. Thank you.
• SB 18 is essential because it provides that long-term regulatory certainty that markets demand.

Summary: The committee first took up the proposed 2026 tax package, Senate Bill 151, and adopted a committee substitute after discussion of the package’s funding capacity and included measures. The substitute bundled five bills: a physician tax credit, a quantum facility infrastructure tax credit, a construction materials gross receipts deduction for affordable multifamily housing, a local journalist employment tax credit, and a health equipment gross receipts deduction. Members discussed amendments that raised the physician credit from $4,000 to $10,000, narrowed the housing deduction to project-based certification, and reduced the journalist credit threshold from four stories to three. Concerns were raised about the fiscal impact on municipalities, especially Albuquerque, and about the funding mechanism, but the committee voted 6-4 to give the substitute a do pass recommendation. Senator Sanchez explained his vote, saying he wished more could have been included in the package. The committee then heard Senate Bill 18, the Clear Horizons Act, which would codify statewide greenhouse gas reduction targets and direct the Environment Department and Environmental Improvement Board to develop plans and rules for emissions reductions. The sponsors said the bill builds on the governor’s 2019 executive order, includes a 10,000-metric-ton threshold for covered emitters, allows certified offsets, and is intended to protect public health, reduce climate-related costs, and provide regulatory certainty. Supporters argued the bill would help communities facing wildfire, drought, health harms, and rising insurance and utility costs, and that it would encourage clean-energy investment and long-term economic stability. Opposition testimony came from mining, oil and gas, rural electric cooperatives, construction, agriculture, auto dealers, chambers of commerce, banks, water recycling companies, and realtors. They argued the bill functions like a carbon tax or broad regulatory mandate, would raise energy and compliance costs, could reduce investment and jobs, and would disproportionately affect rural, tribal, agricultural, and low-income communities. Several witnesses warned of higher electricity and fuel bills, revenue losses for local governments, and uncertainty from delegating major policy decisions to rulemaking. Supporters included public health advocates, educators, local officials, clean-energy businesses, tribal and environmental advocates, and residents affected by wildfire and drought, who said the bill is necessary to address climate harms and protect public health and the economy. No final committee vote on SB 18 was reached in the portion provided.

Transcript Highlights:

• My colleagues have sent several letters requesting information on Department of Government Efficiency
• Trump officials try to defend this recklessness by claiming they're making things more efficient and
• By reprivatizing the economy, shrinking the regulatory overreach coming from big government socialism
• regulatory efforts during the first administration reduced regulatory burdens on the average household
• Rob, some of the efficiencies the administration is trying to achieve?

Keywords: nomination, Deputy Secretary of Treasury, economic policy, inflation, tariffs, tribal nations, government relations

Summary: The meeting convened to consider the nomination of Mike Falkender for the position of Deputy Secretary of the Treasury. During the session, multiple members voiced concerns regarding current economic policies under the Trump administration, particularly around inflation, tariffs, and the impact on small businesses. Discussions frequently centered on the administration's approach to tariffs and taxation, and how these factors contribute to the rising cost of living and potential job losses. Additionally, the importance of bolstering government-to-government relationships with tribal nations was emphasized, highlighting the need for specialized offices focused on tribal affairs within the Treasury Department.

Transcript Highlights:

• The Committee on Government Efficiency will now come to order. Madam Clerk, please call the roll.
• The Committee on Government Efficiency will now go into executive session.
• By creating an in-state entity, it also brings back a lot of regulatory power.
• Representative Burton asked what kind of regulatory power would come back to the state.
• So anything we can do that is nice and efficient and So anything we can do that is nice and efficient

Keywords: 959, house, all

Transcript Highlights:

• FERC is the Federal Energy Regulatory Commission, so we're regulated by the federal government.
• First among those would be the state regulatory sector.
• is not a regulatory agency.
• </c> difference would be is from a regulatory difference would be is from a regulatory agency<01:39:58.679
• </c><01:40:01.000><c> agency</c> agency um myo is not a regulatory agency agency um myo is not a regulatory

Bills: HF75

Keywords: HF75, earned incentive release credit, earned incentive credits, revocation, revocable credits, corrections, Minnesota Department of Corrections, prison discipline, incarcerated persons, inmate misconduct, facility rules, sentence reduction, supervised release, Minnesota Rehabilitation and Reinvestment Act, public safety, rehabilitation, prison credits, executed sentence, 1183, house

Transcript Highlights:

• We explored opportunities to create efficiencies, reallocate funds, and examine the interactions across
• We explored opportunities to create efficiencies, reallocate funds, and examine the interactions across
• We explored opportunities to create efficiencies, reallocate funds, and examine the interactions across
• As you are aware, in 2024 the Legislature directed DNR to build a temporary regulatory framework for
• </c><01:10:20.840><c> so</c> has been in creating more efficiency so has been in creating more efficiency

Keywords: 1187, senate, all

Transcript Highlights:

• The Committee on Government Efficiency will now come to order. Madam Clerk, please call the roll.
• With a quorum being established, the Committee on Government Efficiency will now go into executive session
• The Committee on Government Efficiency will now go into executive session.
• The ACA moved some regulatory powers to Washington, D.C.
• Okay, and just to clarify, what kind of regulatory power would come back to the state? Pardon me.

Summary: The committee met in executive session first and took up House Bill 2330, reconsidering a prior due-pass vote and then voting the House Committee Substitute due pass by roll call. It then considered House Bill 2291, where an amendment meant to clarify municipal building-code and zoning authority was discussed at length and ultimately withdrawn after members raised concerns that it would undercut the bill’s purpose; the bill itself then received a due-pass recommendation. House Bill 2336, dealing with state property conveyances and title issues, also drew questions about unclear title and the status of several properties, but the committee adopted the House Committee Substitute and voted the bill do pass. The committee then moved into public hearing on House Bill 3136, which would remove the state prohibition on creating a Missouri-based health insurance exchange; the sponsor and a witness argued it could save money, keep exchange fees in-state, and give Missouri more control, while several members objected that it would reverse the 2012 voter-approved prohibition and could entrench federal health-care policy. No action was taken on that bill in the hearing. The committee next heard House Bill 1833, which would let certain state employees opt out of the state health plan and receive a partial cash payout if they have other coverage. The sponsor argued it could be cost-neutral or save money and give employees more flexibility, while members and the Missouri Consolidated Health Care Plan raised concerns about fiscal impact, adverse selection, administrative burden, and whether the proposal turns a benefit into an entitlement. The witness for the plan said the fiscal note was based on about 4,112 active employees who already opt out, warned the stipend would be taxable and could create a new benefit that is hard to remove, and said proof of outside coverage would need to be maintained. The hearing then moved to House Bill 2506, which would require DESE to post QR-code placards at licensed child care facilities linking parents to existing inspection and complaint records; supporters said it would help parents make safer choices at no fiscal cost, while DESE explained the portal already exists and complaints are investigated quickly, and a witness described serious problems at one facility to illustrate why the information matters. Finally, the committee opened public hearing on House Bill 1758, a proposal to move Missouri to permanent daylight saving time once federal law allows it. The sponsor argued it would improve safety, boost economic activity, and avoid the inconvenience of changing clocks twice a year, while members raised concerns about darker mornings for schoolchildren and commuters and questioned whether the benefits outweigh the drawbacks. The hearing was still underway when the transcript ended, and no final committee action on House Bill 3136, 1833, 2506, or 1758 was recorded in the excerpt.

Transcript Highlights:

• to once again remind everyone that the Assembly has rules to ensure we maintain order and run an efficient
• C-Tech registration requirements because their activities are already subject to a comprehensive regulatory
• Clarifying this will go a long way to reduce some regulatory uncertainty and extra burdens for those
• So the normal process for either reputational accountability or regulatory accountability is tougher.
• agencies tools we have never had, real, accessible Law enforcement and regulatory agencies tools we

Summary: The Assembly Business and Professions Committee heard several bills, including SB 788 by Senator Niello, which clarified that CPAs and CPA firms, including employees and out-of-state CPAs authorized to practice in California, are regulated by the California Board of Accountancy rather than subject to Tax Preparation Act registration requirements. Supporters said the bill would reduce duplicative regulation and confusion; there was no opposition, and the bill passed to Appropriations. The committee also heard SB 351 by Senator Cabaldon, aimed at strengthening enforcement of California’s corporate practice of medicine rules as they relate to private equity and hedge fund involvement in medical and dental practices. The author and physician supporters argued that private equity can interfere with clinical decisions and patient care, while opposition from the American Investment Council said the bill could sweep in legitimate business practices and requested a narrow amendment. The bill passed to Judiciary. SB 312 by Senator Umberg was heard next and would require health certificates for imported dogs sold in California to be submitted to CDFA and made publicly available, with supporters describing it as a transparency and consumer protection measure to combat puppy mills and misleading online sales. There was no opposition, and the bill passed to Agriculture. The committee also approved a consent calendar containing SB 291, SB 387, SB 517, SB 602, and SB 773, all moving to their respective committees. The meeting ended after additional roll calls and adjournment.

Transcript Highlights:

• committee or advisory group to study methods to improve the efficiency, transparency, and fairness of
• committee or advisory group to study methods to improve the efficiency, transparency, and fairness of
• committee or advisory group to study methods to improve the efficiency, transparency, and fairness of
• and request the Louisiana State Law Institute to study and establish a homeowner protection and efficiency
• committee or advisory group to study methods to improve the efficiency, transparency, and fairness of

Bills: SCR12, HB1259, HB221, HB509, HCR117, HCR58, SCR29, SCR33, SB295, SB312, SB326, SB348, SB485, SCR9, SCR58, SB35, SB65, SB215, SB246, SB249, SB269, SB282, SB296, SB323, SB363, SB369, SB474, SB490, SB492, SB500, SB514, HCR32, HCR5, HCR95, HB75, HB198, HB244, HB302, HB325, HB623, HB719, HB749, HB755, HB761, HB797, HB823, HB1028, HB1049, HB1194, HB1199, HB1201, HB1222, HB17, HB27, HB36, HB41, HB73, HB140, HB166, HB181, HB211, HB223, HB226, HB271, HB308, HB337, HB399, HB410, HB487, HB690, HB712, HB730, HB750, HB759, HB762, HB775, HB906, HB966, HB968, HB1006, HB1009, HB1018, HB1036, HB1062, HB1081, HB1086, HB1098, HB1107, HB1112, HB1203, HB1215, HB1220, HB1242, HB1252, HB1256, SB208, SB217, SB274, SB283, SB300, SB341, SB382, SB387, SB389, SB401, SB408, SB449, SB469, HB74, HB119, HB134, HB368, HB414, HB552, HB732, HB776, HB848, HB870, HB953, HB956, HB1117, HB1236, SB29, SB42, SB43, SB78, SB149, SB441, HB210, HB258, HB359, HB468, HB784

Keywords: logging, recognition, John Keith, environment, safety, HB1259, mask penalty, masked felony, face covering, conceal identity, evade identification, sentencing enhancement, enhanced penalty, felony sentencing, crime deterrence, public safety, Louisiana criminal law, R.S. 14:313.2, R.S. 14:313, R.S. 14:329.7

Transcript Highlights:

• There has been a lot of funding efficiencies happening.
• The last suggestion is to administer our funds more efficiently.
• And now, you know, it was a More efficiently.
• metric, and our tiebreaker really does prioritize efficiency of resources.
• And then, finally, we've talked a lot about efficiency.

Summary: The Assembly Select Committee on Housing Finance and Affordability held its first hearing of 2025 to examine California’s housing finance system, with opening remarks emphasizing the state’s severe housing shortage, high costs, and the need for practical recommendations to the Legislature and Governor. Co-chairs described the committee as an educational and problem-solving forum focused on financing housing production, first-time homeownership, mixed-income developments, and affordability across the income spectrum. Witnesses from state agencies and the development sector were invited to explain how housing is financed and where the system is breaking down. Panelists from the California Housing Partnership, the Business, Consumer Services and Housing Agency, the Tax Credit Allocation Committee/State Treasurer’s Office, CalHFA, and Related outlined the “capital stack” used to finance affordable housing, stressing that projects typically rely on multiple public and private sources, including federal and state low-income housing tax credits, tax-exempt bonds, state subsidies, local funds, and rental income. Speakers noted that affordable housing rents generally cannot support full project costs without public subsidy, and that recent federal changes—especially the expansion of the 4% and 9% tax credit programs and the reduction of the bond financing threshold for 4% credits—should allow California to finance substantially more units. CalHFA also described its homeownership programs, including My Home, Dream For All, and disaster-related mortgage assistance, as well as its multifamily lending and bond issuance programs. Several witnesses and committee members emphasized that the system remains too complex, too slow, and underfunded. They pointed to the need for more state funding, a housing bond, a permanent funding source, and better coordination among agencies, while also citing recent streamlining efforts such as AB 434’s SuperNOFA, AB 519’s one-stop-shop working group, and the planned California Housing and Homeless Agency reorganization. Members raised concerns about equity, access, missing-middle housing, gender and racial disparities, and whether current programs adequately serve extremely low-income households and those at risk of homelessness. No formal votes or actions were taken during the hearing; the discussion ended with committee members and witnesses agreeing that both funding and administrative reform are needed to increase production and improve affordability.

Transcript Highlights:

• And I think through the regulatory process, we can address those things.
• We oversee hundreds of licensees across the state, managing a complex regulatory landscape.
• Public trust in the regulatory system depends on the integrity and security of these systems.
• We have to work with the cities and towns to set up a regulatory guidance structure.
• So as a civil regulatory agency, you've got a handful of enforcement tools, right?

Keywords: 1212, all