Transcript Highlights:

• This is the limit we also commonly refer to as the population inflation. limit and this was put into
• We are $16 billion underneath the consolidated general revenue limit, which is the population inflation
• . period, as inflation spikes from sweeping tariffs on everything from rice to car seats, and then again
• That's just to deal with the inflation that's happened since...
• We adopt a budget that is. below the increase of population plus inflation, we adopt a budget.

Bills: SB1, HB500, SB1, HB1400, HB 1094, HB365, HB 1109, HB647, HB500

Keywords: appropriations, budget, state funding, education, healthcare, infrastructure, state budget, mental health funding, education funding, infrastructure improvements, public safety, groundwater, water conservation, financial assistance, Texas Water Development Board, innovation fund, local conservation districts, transportation protection agreement, funeral services, insurance exemption

Transcript Highlights:

• The key metric we use here is historical revenue growth compared to national GDP and inflation.
• essentially at at a projected<00:23:55.360> rate<00:23:55.559> of<00:23:55.679> inflation
• <00:23:56.120> with<00:23:56.240> no projected rate of inflation with no projected
• rate of inflation with no changes<00:23:56.840> so<00:23:57.360> that<00:23:57.480>
• uh this is what could result inflation uh this is what could result so<00:27:05.679> in<00:27

Keywords: 1187, senate, all

Transcript Highlights:

• recommendation. ...to provide a significant increase in funding for the HEAF to address increases in inflation
• Inflation is expected to increase by 30% by 2050, and per capita real incomes will double.
• Adjusted funding formula funding that keeps up with enrollment growth and inflation is critical to our
• The use of these funds has been markedly reduced due to increased inflation over the past decade.
• Since 2015, when the legislature last considered the HEF funding level, inflation has significantly reduced

Bills: SB1, SB 1

Keywords: appropriations, budget, state funding, education, healthcare, infrastructure, campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards, 1185, senate, all

Transcript Highlights:

• <00:07:24.000> And<00:07:24.120> so,<00:07:24.280> then prices may seem inflated
• And so, then prices may seem inflated.
• Chairman, did you say what this was adjusted for inflation already or not?
• It is adjusted for inflation. >> Mr. Chairman, Senator Cronk is correct. >> Thank you.
• wages due to high inflation. wages due to high inflation.

Keywords: 916, all

Transcript Highlights:

• on consumer protection and fairness in contracts, I believe this bill can also serve as an anti-inflation
• Ballooning maintenance and expansion costs have increased year over year well beyond inflation.
• Ballooning maintenance and expansion costs have increased year over year well beyond inflation, and the
• suggests that the subject, the part of the electric infrastructure piece, it's subject to the most inflation

Keywords: 995, all

Summary: The committee heard testimony on a wide range of late-file energy bills, with much of the discussion focused on battery storage siting, gas system expansion, propane consumer protections, gas workforce safety, and a Taunton home-rule petition on water rates for manufactured housing communities. Representative Sweeney urged support for H. 4689 and H. 4690, which would impose a moratorium and setback requirements for lithium battery storage facilities, citing fire risk, proximity to homes, and environmental concerns. Several local officials and residents from Oakham, Tewksbury, and other communities described proposed battery projects near homes, schools, wetlands, and conservation land, while industry and clean-energy advocates argued the bills would effectively block storage development and conflict with state energy goals and existing fire-safety standards. The committee also heard strong support for S. 2290/H. 3547, a bill to prevent gas expansion near environmental justice communities, from environmental justice advocates, municipal officials, and clean-energy groups. Testimony emphasized rising gas bills, the cost of new pipelines, methane and health impacts, and the need to avoid locking in long-term gas infrastructure costs. Witnesses also discussed related bills on gas workforce safety, gas shut-off valves, and gas meter replacement plans, with labor representatives supporting safety-focused measures and opposing changes they said would weaken inspections, while consumer and environmental advocates argued that some utility replacement practices are unnecessarily expensive and should be reined in to reduce ratepayer costs. Other testimony included support for H. 3518 on propane gas ratepayer protections, with the witness arguing for clearer contract terms and website price disclosure, and support for S. 2652, which would authorize Taunton to create a separate water billing rate for manufactured housing communities because residents there are effectively paying higher water costs through rent due to a single master meter. No committee votes or final actions were taken during the hearing, and members mostly asked brief clarifying questions or made no comment after testimony.

Transcript Highlights:

• step forward to give people the assurance they need to even consider this type of hedge against inflation
• I think this is a great way for people to hedge against inflation for the common person.
• sponsor and the committee's attention and recognition that gold and silver are the answer to the inflation
• problems and the monetary problems facing this, but the solution is not... ...the answer to the inflation

Bills: HCR66, HB387, HB617, HB797, HB950, HB975, HB1186, HB1222, HB1223, HB1228, HB1256

Keywords: economic development, rural communities, infrastructure, workforce training, Louisiana Economic Development, engineering, land surveying, construction, state fire marshal, plan review, hidden fees, junk fees, drip pricing, price transparency, mandatory fees, surcharges, consumer protection, unfair trade practices, advertising disclosures, total price

Summary: The Senate Commerce Committee met on April 20, approved the prior meeting minutes, and then heard a series of bills and resolutions. It first advanced H. CR 66, which directs Louisiana Economic Development, working with the Governor’s Office of Rural Development, to study rural parish economic assets, infrastructure, workforce, and development opportunities. The committee also moved HB 387, a clarification allowing the fire marshal to review architectural and engineering plans equally, and HB 1223, which seeks to promote clinical trials in Louisiana by having LED market the state’s research capacity and by adjusting internal review board procedures. HB 1228, a cleanup bill for hearing aid dealers that updates definitions, contracts, testing periods, licensing, and related requirements, was also reported favorably, as was HB 950, which would create an elderly consumer perception program through the Office of Elderly Affairs to help seniors recognize scams and fraud. The committee spent the most time on HB 617, a broad “hidden fees” consumer transparency bill. The author and supporters said it would require mandatory fees to be included in upfront pricing so consumers can make informed choices, while opponents from grocery, restaurant, hotel, housing, retail, and business groups argued the bill was vague, overly broad, and likely to create compliance burdens and litigation risk. Housing advocates objected to the bill’s housing exemption, warning it could weaken renters’ ability to bring claims over undisclosed fees. After extensive debate over variable pricing, sales taxes, enforcement, and the scope of the bill, Senator Morris moved to defer HB 617, and the committee agreed without objection. The committee also heard HB 797, which would create a “Bayou Gold” certification program for certain gold vendors and transactional gold products. The sponsor said the program would encourage vendors to keep gold insured, segregated, and closer to Louisiana consumers, with the Treasury administering the certification through participant fees. Several senators and an outside witness raised concerns that the state seal could be mistaken for an endorsement, could create liability or consumer confusion, and would favor a narrow set of vendors. Despite opposition, the committee reported HB 797 favorably, with members noting it still had to go to Finance. Later, the committee advanced HB 1186, which would create a more uniform statewide building code and licensing system for inspectors, add disciplinary authority, and impose a small permit fee to support the program, and HB 1222, which would let LED develop a grocery initiative to address food deserts and food insecurity. The meeting concluded with the committee hearing HB 1256 on abandoned digital assets, which would require dormant digital assets to be held in original form for three years so owners can reclaim them.

Transcript Highlights:

• The credit was then raised in 2018, and then again in 2022 with the Inflation Reduction Act.
• we offer is increasing every year, with over a 20% increase in the last five years, mainly due to inflation
• These fees are set by the Board of Health in King County and are adjusted for inflation and service sustainability
• Across Washington, many county solid waste programs are struggling with the combined pressures of inflation

Summary: The committee held an interim work session focused first on carbon capture, utilization, and sequestration (CCUS), then on hazardous waste and extended producer responsibility (EPR). On the CCUS topic, industry and nonprofit presenters described point-source capture, direct air capture, mineralization, and geologic sequestration, emphasizing Washington’s basalt formations and state trust lands as strong candidates for storage. They argued that CCUS can help hard-to-abate industrial sectors, support jobs and investment, and provide a pathway for compliance, while also noting the need for clearer permitting, subsurface rights, pipeline authority, and storage infrastructure. Ecology and Commerce staff explained current state policy touchpoints, including Cap-and-Invest offsets and exemptions for permanently stored CO2, the public comment process underway to define “thousand-year” permanence, and how CCUS might fit within the Clean Energy Transformation Act without counting emitting generation as non-emitting. Some presenters supported more state action and primacy over federal permitting, while others warned about costs, energy use, uncertain capture performance, and the need to ensure real net greenhouse gas reductions and long-term liability protections. Members asked about public meetings, whether mineralized carbon would qualify as exempt under the Climate Commitment Act, the timeline for Ecology guidance, aquifer and water-quality concerns, energy intensity of capture systems, and liability if storage later proves problematic. Responses said Ecology’s guidance process is already underway, public meetings will be virtual, mineralized carbon would likely qualify if it meets the permanence standard, and EPA rules require storage in deep saline formations below drinking water aquifers. Industry speakers said capture energy use varies by source and concentration, and one presenter noted that some states use trust funds funded by injectors to address long-term liability. The second half of the session shifted to hazardous waste and EPR. Ecology staff reviewed existing product stewardship programs for electronics, paint, batteries, and mercury lights, and described moderate risk waste and household hazardous waste management in Washington. They highlighted that E-Cycle and PaintCare are producer-funded, that the battery stewardship program will begin in 2027, and that the mercury lamp program is in transition after its prior stewardship organization exited, prompting enforcement notices and a pending replacement plan. Ecology recommended best practices for future EPR programs, including clear producer and product definitions, full producer funding, convenience standards, annual reporting, and strong agency enforcement and plan approval authority. Local government speakers from King County and Douglas County described rising collection costs, equity and access barriers, rural travel distances, and the need for stable funding and flexible local implementation. King County said it collected over 3 million pounds of hazardous products in 2025 and supports EPR as a way to shift costs from ratepayers to producers, while Douglas County emphasized that rural residents will participate when services are accessible and that future systems should account for geography and local infrastructure.

Transcript Highlights:

• seem we overdo it and drive up the cost, and then we turn... ...around and try to subsidize those inflated
• Alongside ongoing inflation and resourcing challenges, Minnesota's housing preservation framework could
• And yet, when I look at the agenda that the State of Minnesota pursues, we are inflating the cost of
• SERIOUS SITUATION AND YET WHEN I LOOK AT THE AGENDA THAT THE State of Minnesota pursues, we are inflating

Keywords: 1187, senate, all

Transcript Highlights:

• But the income limit for homeowners has continued to follow inflation, whereas the income limit for renters
• for homeowners has continued<00:15:40.480> to<00:15:40.800> follow<00:15:41.199> inflation
• <00:15:41.920> whereas continued to follow inflation whereas continued to follow inflation

Keywords: 1183, house

Summary: The committee heard House File 2499, as amended by the DE1, which would expand Minnesota’s renters’ credit by nearly doubling the income cutoff and increasing the maximum credit, with the bill laid over for possible inclusion in the tax bill. Representative Lee explained that the DE1 updated tax years and amounts after a new forecast, and argued the bill would bring the renters’ credit closer to parity with the homestead credit. She cited Department of Revenue data showing that recent changes to the renters’ credit increased participation and average refunds, and said the proposal would help more renters, including middle-income households and more seniors and people with disabilities. Testifiers Michael Dah of Homeline and Nan Madden of the Minnesota Budget Project supported the bill. Dah said renters face rising housing costs and a shortage of affordable homes, and described how renters use the credit for basic needs like school supplies, clothing, eyeglasses, dental care, groceries, and car repairs. Madden said the credit refunds property taxes paid through rent, helps workers, families, seniors, and people with disabilities, and noted that more than 310,000 households received the credit in 2023 across every part of the state. She also said recent filing changes made the credit easier to claim and increased participation. Members broadly discussed the fairness of treating renters and homeowners similarly, the role of property taxes in housing costs, and whether the bill should be viewed as helping low-income or more middle-income households. Representative Abeler, Smith, Howard, and Huitt expressed support, while Representative Roach argued the broader problem is rising property taxes driven by mandates on counties and said the bill is only a temporary fix. Representative Anderson questioned extending the credit to higher-income renters and said policy should prioritize homeownership, while Representative Lee responded that many renters are middle-class, that renters often cannot save for a down payment, and that the bill would help them stabilize financially. The bill was then laid over as amended.

Transcript Highlights:

• We have inflated that out to when construction is anticipated to occur, and so we should have adequate
• calculator, add all the soft costs.<00:13:30.040> We<00:13:30.160> have<00:13:30.320> inflated
• We have inflated that out to when costs.
• We have inflated that out to when we<00:13:32.000> anticipate<00:13:32.839> construction

Bills: SF0052

Keywords: wildlife management, environmental restoration, funding, invasive species, aquatic ecosystems, native fish, habitat conservation, 916, all

Transcript Highlights:

• We're currently facing some of the largest increases in higher education inflation in about 20 years
• 05:07.840> in<00:05:08.080> higher<00:05:08.320> education<00:05:08.720> inflation
• increases in higher education inflation increases in higher education inflation in<00:05:09.759>

Keywords: 958, all

Summary: The House Budget Review Subcommittee on Postsecondary Education met without a quorum, so no minutes were approved. The committee then heard a presentation from Western Kentucky University President Timothy Kabone, who highlighted WKU’s recent gains in graduation rate, retention, degree production, graduate enrollment, research activity, and financial stability. He said WKU’s FY 2026 budget is structurally balanced without one-time reserves, and he tied the university’s growth to its strategic plan and to Senate Bill 77, which created a pathway for WKU’s first PhD program. WKU’s initial PhD offering is planned in data sciences for fall 2027, and Kabone said the university continues to pursue R2 research status. Kabone also outlined WKU’s budget requests, including a 4.5% base appropriation increase for each year of the biennium, a $30 million increase in the performance funding pool, a $30 million trust fund for tuition waiver reimbursement, and $2 million per year for the Gatton Academy. He also requested continued funding for the Kentucky Mesonet, 8.9% of proposed asset preservation funding, and support for a $280 million new Potter College facility. He emphasized inflationary pressures, rising fixed costs, and the burden of mandated tuition waivers, and said the university supports performance funding but wants the model adjusted to better reward student success rather than enrollment growth. Members asked about WKU’s student housing situation and the transition away from the former student life foundation model. Kabone said the foundation structure had run its course, that the university had lacked adequate oversight under the old arrangement, and that WKU is moving to a public-private partnership with Gilbane and the College Housing Foundation. He said the new model would not increase the university’s debt load and would replace older residence halls with a roughly 1,000-bed complex, eliminate community-style bathrooms over time, and expand living-learning communities. Representatives McCool and Tipton praised WKU’s graduation and retention results and asked questions about the housing project and its timeline. The committee then heard from CareerVXR and KCTCS about a proposed career exploration pilot. Company representatives said the platform uses web-based and virtual reality experiences to show students real jobs and workplaces, with the goal of addressing an “awareness gap” in workforce participation. They proposed a $1.8 million, two-year pilot to reach 50,000 to 60,000 students in three regions, including Hazard Community and Technical College, Southeast Community and Technical College, and western Kentucky. Members asked about cost, funding source, and locations, and were told the request would come through the KCTCS budget. The meeting ended with notice that the next meeting was scheduled for Thursday, February 26.

Transcript Highlights:

• each funeral home can charge $10 per service, and it's up to $30 because to take into consideration inflation
• 17:18.079> consideration to take in in into consideration to take in in into consideration inflation
• 20.000> them<00:17:20.240> having<00:17:20.559> to<00:17:20.720> come inflation
• without them having to come inflation without them having to come back<00:17:21.199> before<00

Bills: SB7, SB22, SB39, SB40, SB45, SB46, SB86, SB95, SB107, SB7, SB22, SB39, SB40, SB45, SB46, SB86, SB95, SB107

Keywords: voting rights, absentee ballot, protected classes, Alabama Voting Rights Act, felony conviction, election integrity, preclearance, Alabama Jobs Act, incentives, job creation, economic development, recapture provisions, capital investment, employment, board governance, occupational licensing, Sunset Law, public accountability, training requirements, SB40

Transcript Highlights:

• And you know, even with the COLA that we're giving, we know it's not keeping up with inflation. up with
• inflation, compounding that, adding to it every 15 or for another 15 to 17 years is costly, especially
• The compounding COLA hasn't kept up with inflation, so what we are proposing is A 70 million appropriation
• To help with inflation and cost of living, this would be in addition to any compounding COLA we Receive

Keywords: 996, all

Transcript Highlights:

• California's tourism industry has seen modest recovery since the pandemic, it has not kept pace with inflation
• As you can see on the slide, spending was 10.5% below 2019 numbers when adjusted for inflation.
• confidence has steadied since May, but it remains down year over year, reflecting concerns about inflation
• It's independent of inflation, room supply, and any other caveats, so a bit of good news there from a

Summary: The Assembly Committee on Arts, Entertainment, Sports, and Tourism held an informational hearing on the state of California tourism amid declining international visitation and broader economic and political headwinds. Visit California CEO Caroline Betetta said the industry remains a major economic driver, with 2024 visitor spending of $157 billion, 1.2 million jobs supported, and $12.7 billion in state and local tax revenue, but warned that 2025 forecasts show the first post-pandemic decline in visitation, driven largely by a projected 9.2% drop in international travel. She cited concerns about the strong dollar, visa wait times, border and immigration rhetoric, and a proposed federal visa integrity fee, while emphasizing Visit California’s marketing campaigns and the importance of upcoming mega-events like the World Cup and 2028 Olympics. A second panel of destination leaders described local impacts and strategies. Visit Sacramento’s Mike Testa said the city has diversified beyond conventions into music festivals, sports, and food events, but noted that international apprehension is affecting events like Terra Madre Americas and that California should do more to incentivize major festivals to stay in-state. Santa Monica Travel and Tourism’s Lauren Salisbury said the city is seeing lower international visitation, especially from Canada, Australia, and Europe, and that wildfire coverage and later federal troop presence in Los Angeles hurt local sentiment and caused cancellations. Yosemite Sierra Visitors Bureau’s Rhonda Salisbury reported steep drops in international visitation to the gateway region, ongoing concerns about wildfire, reservations, insurance costs, and park access, and praised a new federal requirement for quarterly meetings between national parks and gateway communities. San Diego Tourism Authority COO Carrie Verbeck-Cappich said tourism is the region’s second-largest sector, but 2025 is softer than 2024, with spending down despite modest visitation growth. She pointed to weaker Canadian and Asian travel, government-related meeting cancellations, and the need for more support to bid on and host major events; she also highlighted border-crossing delays, insufficient federal staffing at ports of entry, and the Tijuana River sewage crisis as major regional issues. Committee members discussed the effects of federal rhetoric, infrastructure, and cross-border conditions on tourism, and several witnesses urged continued support for Visit California, Brand USA, event incentives, and efforts to present California as welcoming and open. Public comment then opened, beginning with testimony from the California Attractions and Parks Association.

Transcript Highlights:

• of the years, the rent has increased over 10% each time, which is quite a bit above the rate of inflation
• Their rent inflation rate, or maybe inflation a little bit, but not up to ten and a half percent when
• the inflation rate is two to four percent.

Transcript Highlights:

• And the reason motor vehicle usage is up is that inflation has taken care of that.
• motor vehicle usage is up is that reason motor vehicle usage is up is that that<00:10:32.160> inflation
• 33.200> taken<00:10:33.600> care<00:10:33.760> of<00:10:33.839> that that inflation
• has taken care of that that inflation has taken care of that that's<00:10:34.560> you<00:10:34.720

Keywords: 958, all

Summary: The committee met on Transportation, approved the prior meeting minutes, and received a road fund update from Transportation Cabinet officials Mike Hancock, Sean McCernan, and Ron Rigney. McCernan reported that FY 2024-2025 road fund revenue came in $38.5 million above the enacted estimate, but was about $11 million below FY24 because of a lower motor fuels tax rate. He said motor vehicle usage tax receipts were stronger than expected, and that the road fund ended the year with a $61.6 million surplus account that, under the budget bill, must be appropriated to state construction. Members focused heavily on how declining motor fuels receipts affect the formula funds that support cities, counties, and rural/secondary roads. Hancock and McCernan explained that lower gas tax receipts reduce both the road plan and revenue sharing, while higher vehicle sales tax receipts from motor vehicle usage go directly to the road fund and do not help the formula distributions. They also said fuel efficiency, hybrid and electric vehicle trends, and the removal of a prior hybrid fee all affect revenue collections. On tolling, officials said Louisville bridge toll revenues are covering bills and commitments, but they did not have the latest collection figures in front of them and said they would provide them later. The committee also asked about project delivery delays, right-of-way acquisition, disaster recovery work, annual contract awards, cash management, and overprogramming in the highway plan. Officials said project delays often stem from right-of-way purchases, utility relocation, and the large volume of projects in the plan, and described the process as a “duck paddling” situation with substantial work happening behind the scenes. They said FY25 contract awards were already just under $998 million by the July letting and expected to exceed last year’s total, and explained that cash balances are managed so they do not fall below $100 million; the current balance was said to be about $166 million. No further votes or formal actions were taken beyond approving the minutes.

Transcript Highlights:

• In the two years since the last session, as we all know, inflation, interest rates, and other pressures
• COVID has led to explosive inflation, and I'll give you an example: our Round Rock Resort cost $600 million
• We have been working on this a long time, actually before inflation went crazy.
• One is, we wouldn't be able to keep up with inflation and give wage increases to our valued employees

Bills: HB 1039, HB2289, HB2370, HB2404, HB3066, HB3076, HB3117, HB3118, HB3169, HB3178, HB3179, HB3182, HB3196, HB3241, HB3377, HB3500, HB3567, HB3715, HB3954, HB4098, HB4109, HB4222, HB4226, HB4412, HB4659, HB4682, HB4683, HB4755, HB4926, HB5165, HB5562, HB5596

Keywords: hotel occupancy tax, municipal revenue, tax authority, border counties, tax legislation, municipalities, hotel tax revenue, convention centers, economic development, local government authority, HB 2370, HOT tax, venue projects, convention center, municipal finance, local government code, Section 334.0082, tourism tax, debt financing, bond repayment

Transcript Highlights:

• to something closer to what we've all kind of been talking about, we would need to catch up with inflation
• This is on top of inflation, well over 20% since the basic allotment was increased back in 2010. 2019
• So we ignore the coastline, yet we're getting whacked by inflation.
• increases. in the number of students accessing special education services during a time of record inflation

Bills: HB2, HB2

Keywords: public education, teacher compensation, certification, funding, school finance, educator rights, education funding, charter schools, staff compensation, state aid, retention allotment, disaster preparedness, emergency management, flooding, mass fatality, mass casualty, fatality tracking, body recovery, autopsy, justice of the peace

Transcript Highlights:

• This is simply an effort to make an adjustment based on construction cost inflation that we've seen over
• make an adjust based on construction make an adjust based on construction cost<00:03:02.040> inflation
• > we've<00:03:03.360> seen<00:03:03.640> over<00:03:03.840> the cost inflation
• that we've seen over the cost inflation that we've seen over the past<00:03:04.239> 35<00:03:

Keywords: Meeting Start 00:00 Roll Call 00:27 SB 76 Discussion 01:20 SB 76 Vote 04:51 SB 59 Discussion 05:50 SB 59 Vote 20:49 SB 313 Discussion 23:46 SB 313 Vote 28:18, 958, all

Summary: The Senate Standing Committee on Economic Development, Tourism, and Labor met and first took up Senate Bill 76, sponsored by Senator Greg Elkins. The bill would raise the construction retainage/escrow statute threshold from $500,000 to $2 million to reflect inflation, and would also make any contract term waiving the escrow protection void and unenforceable. Elkins said the measure would not apply to government contracts and was intended to protect contractors, subcontractors, and suppliers from delayed payment. The committee voted 9-0 to pass the bill with a favorable expression and send it to the floor. The committee then considered Senate Bill 59, sponsored by Senator Jimmy Higdon, with a committee substitute adopted first. Higdon said the substitute limited the bill to existing church property and the measure would allow religious institutions to build affordable housing on their property while still requiring local governing-body approval and compliance with building codes. Supporters framed it as a housing-supply tool and a way to use nonprofits and churches to help address Kentucky’s housing shortage, while questions focused on tax impacts, local control, and whether the bill could be used for single-family homes or other developments. A public witness from Henry County opposed the bill, arguing it could enable discriminatory housing and reduce local tax revenue. After discussion, the committee voted 9-0 to pass SB 59 with a favorable expression. Finally, the committee heard Senate Bill 313 from Senator Phillip Wheeler, which would designate June as Kentucky History Month. Wheeler and Kentucky Historical Society Executive Director Scott Alvi said the bill would help promote Kentucky history statewide, especially in connection with the U.S. 250th commemoration in 2026, and would build on existing June observances such as Statehood Day and Boone Day. The committee approved the bill with favorable expression, and the chair announced it would proceed to the floor.

Transcript Highlights:

• or the leveling off and even some decrease in the rate filings, in large part, it's also because inflation
• year was like 1%, which is crazy when you think we were 14% a couple of years ago, which again, inflation
• The inflation coming down certainly helps. The reforms help.
• The, you know, inflation coming down certainly helps.

Summary: The Insurance and Banking Subcommittee received a lengthy presentation from Citizens Property Insurance Corporation CEO Tim Serio, with Insurance Commissioner Michael Yaworski also answering questions. Serio reviewed Citizens’ role as Florida’s insurer of last resort, its statutory funding structure, eligibility rules, depopulation program, reinsurance obligations, and the surcharge/emergency assessment mechanisms that can be used if Citizens runs a deficit. He emphasized that recent legislative reforms, combined with lower litigation and improved market conditions, have helped the private market recover and reduced Citizens’ policy count from a peak of about 1.41 million in 2023 to 936,182 at the end of 2024, with a projected drop to about 771,000 by the end of 2025. He also said the reforms reduced Citizens’ rate need and helped avoid an emergency assessment after the 2024 storms. Members asked about Citizens’ rate increases, why Citizens still seeks higher rates despite lower litigation, how the 20% eligibility threshold works, whether Citizens should be wind-only, and whether the state or federal government could help with deficits. Serio explained that Citizens is still charging below actuarially sound rates in most areas, that rate filings reflect reduced litigation and lower reinsurance exposure, and that assessments on all Florida property policyholders are the reason Citizens tries to build surplus and depopulate. He said the depopulation program is working better than in the past, with less than 2% of takeout policies returning to Citizens, and that the Office of Insurance Regulation has been vetting takeout companies more carefully. A substantial portion of the discussion focused on claims handling after Debby, Helene, and Milton, including flood-versus-wind disputes and Citizens’ use of the Division of Administrative Hearings for some claim disputes. Serio said Citizens had received 76,625 claims from the three storms and had paid nearly $823 million in indemnity and expenses as of January 7, 2025. He said many closed-without-payment claims were either below deductible, withdrawn, duplicate, or flood-only, and that Citizens had asked its internal audit function to independently review the claims data and denials. He also described Citizens’ storm outreach, catastrophe response centers, managed-repair program, and claim review process, and said the corporation remains focused on paying valid claims while minimizing the risk of assessments on the broader Florida market.