Transcript Highlights:

• Finance. HB 2091, financial surveillance and examinations. Finance.
• Finance. HB 214, noncustodial money's appropriation. Transportation, technology.
• Finance. Placed under second reading of bills. HB 2786, TPT exemptions; textbook rental. Finance.
• All right, refer to the Committee on Finance.
• 2092, ASRS eligibility waiver, Finance.

Keywords: 1182, all

Summary: The Senate convened with prayer, the Pledge of Allegiance, a quorum present, and several guest introductions, including visitors connected to a documentary on missing and murdered Indigenous women and representatives from charter schools. The chamber then moved through multiple Committee of the Whole calendars, considering a wide range of bills on drug offenses, firearms, child safety, health care, water, housing, tax, and government transparency. Most measures were advanced by voice vote out of committee, often after brief explanations of committee or floor amendments. On the first calendar, the Senate advanced SB 1061 on fentanyl sale thresholds, SB 1069 on prohibited weapons/muffling devices, SB 1081 on DCS case attorney appearance, SB 1127 on duty to report abuse/neglect, SB 1128 on a scrap metal theft study committee, and SB 1170 on narcotic drug sales to a minor. Several members argued against the drug bills as overly punitive mandatory-minimum measures that would reduce judicial discretion and fail to address addiction as a public health issue; supporters emphasized tougher penalties. SB 1127 and SB 1128 were amended before advancing. On later calendars, the Senate advanced SB 1021 on chiropractic board compliance training, SB 1120 and SB 1121 on radiation protection systems and health care institutions, SB 1171 on AHCCCS-related health care cost containment, SB 1174 on DCS intake hotline case history, SB 1188 on pharmacy scheduling/prescription authority, SB 1243 and SB 1244 on court-ordered treatment, SB 1166 on county school superintendent/GED preparation, SB 1241 on local planning and permitting, SB 1370 on patriotic youth group school access, SB 1024 on portable aircraft registration plates, SB 1075 on foreign entities and land conveyances, SB 1202 on groundwater, SB 1280 on the Game and Fish Commission, SB 1287 on groundwater/stock watering, SB 1167 on publication of notices, SB 1435 on explicit materials in schools and libraries, SB 1437 on public records fees, SB 1567 on sexually explicit materials, SCR 1031 on legislative boundaries, SB 1180 on income tax return conformity, SB 1221 on taxpayer protection, SB 1293 on GPLET abatement limitation, SB 1294 on property tax assessment, and SB 1429 on the Arizona Commerce Authority. Some bills drew substantive debate, including SB 1075, where an attempted floor amendment to address corporate homeownership was rejected, and SB 1202, where opponents criticized the bill as relying on outdated water data. The chamber then took up third readings on several bills. SB 1061, SB 1069, SB 1127, SB 1128, SB 1171, SB 1174, and SB 1188 all passed the Senate. SB 1021 failed on third reading, as did SB 1170, after members raised concerns about federal preemption, public safety, and mandatory minimum sentencing. SB 1243 also passed, despite objections that it expanded court-ordered treatment authority and raised due process concerns. The transcript ends with the Senate continuing through additional third-reading votes and procedural motions after the committee reports were adopted.

Transcript Highlights:

• Senate Bill 187, do pass, thence referred to the Finance Committee.
• With development timelines and financing and pulling it all together and stacking up financing, I can
• by title, is referred to the Senate Finance Committee.
• President, I will object to the motion to refer to finance.
• There's no reason for this going to finance.

Keywords: 996, all

Transcript Highlights:

• Megan Sabah, Department of Finance.
• Nick Mills, Department of Finance.
• Department of Finance. Nick Mills, Department of Finance, nothing further to add at this time.
• Department of Finance. Nick Mills, Department of Finance, nothing further to add at this time.
• Department of Finance. Nick Mills, Department of Finance, nothing further to add at this time.

Summary: The Assembly Budget Subcommittee on Health held the first of several hearings on the Governor’s May Revision for health care, with opening remarks focused on the state’s projected $12 billion deficit, looming federal Medicaid changes, and the potential impact on Medi-Cal, public health, reproductive health, and safety-net providers. Several members criticized the proposal as balancing the budget on vulnerable Californians, while others defended the need for cost containment and questioned the administration’s assumptions. The chair set ground rules for respectful, focused questioning and outlined three topics: the Medi-Cal proposals, Proposition 35, and Proposition 56. DHCS Director Michelle Baas presented the May Revision’s Medi-Cal package, saying the department’s budget totals $200.6 billion overall, including $45.2 billion General Fund, and that the proposals are intended to address rising caseloads, pharmacy costs, and managed care spending. She described proposed changes for adults with unsatisfactory immigration status, including a freeze on new full-scope enrollment for those 19 and older, $100 monthly premiums beginning in 2027, elimination of adult dental and long-term care coverage, removal of PPS/RAP payments to FQHCs and rural health clinics for that population, and a pharmacy rebate aggregator. Other proposals included eliminating certain OTC drug classes, removing GLP-1 coverage for weight loss, prior authorization and step therapy changes, reinstating the Medi-Cal asset test, eliminating acupuncture as an optional benefit, allowing utilization management for hospice, raising the managed care minimum medical loss ratio to 90%, reducing PACE capitation rates toward the midpoint of the actuarial range, eliminating the skilled nursing facility workforce and quality incentive program, and suspending the SNF backup power requirement. The LAO said the revised Medi-Cal spending estimate is about $2.5 billion higher than the Governor’s Budget in the budget year, and that the increase appears driven more by higher per-enrollee costs than by caseload alone. The LAO said the budget solutions are concentrated in a few areas, are largely ongoing, and should be considered in light of federal uncertainty, but suggested the Legislature could explore alternatives such as more targeted income thresholds for the undocumented expansion and simpler asset-test rules. Department of Finance officials said the proposals are difficult but necessary to address a third consecutive deficit and rising Medi-Cal costs. Members then pressed the administration on the methodology and impacts of the proposals, especially the enrollment freeze, premiums, asset test, hospice controls, PACE reductions, and the elimination of benefits and provider payments. No votes or formal actions were taken at this hearing.

Transcript Highlights:

• By a vote of 25 to 15, Senate Finance Committee substitute for Senate Bill 241, as amended, has duly
• House Bill 63, introduced by Representative Kates, is an act relating to finance, authorize, ...
• by Representative Kates, an act relating to finance, authorizing the New Mexico Finance Authority to
• House Bill 64 was read twice by title and has now been referred to the Senate Finance Committee.
• House Bill 184 was read twice by title and is now referred to the Senate Finance Committee.

Keywords: 996, all

Transcript Highlights:

• As I said earlier, the school finance system is...
• As I said earlier, the school finance system is...
• They are similarly titled Education Finance Grant Appropriations.
• <01:38:48.800> Grant education Finance Grant education Finance Grant Appropriations<01:38:
• <01:39:01.239> budget within the education finance budget within the education finance budget

Keywords: 1187, senate, all

Transcript Highlights:

• Committee on Finance.
• I too encourage an I vote on the School Finance Act.
• I too encourage an I vote on the School Finance Act.
• This is probably the second Finance Act.
• finance formula. We kept those promises. finance formula. We kept those promises.

Keywords: 981, all

Summary: The Senate convened with a quorum, approved the journal, and received committee and House messages before moving into third reading and final passage on several bills. Early action included passage of House Bill 1318, which concerns traffic safety near schools; Senator Cutter offered and the chamber adopted a third-reading amendment naming it the Liam Stewart School Zone Act in honor of a child killed in a traffic accident near a school. The bill then passed 33-1. The chamber also passed Senate Bill 134 on payment card network fees, and laid over Senate Bill 17 until April 30. The Senate then considered Senate Bill 45 on workforce development opportunities in Colorado’s nuclear sector, Senate Bill 91 on excluding certain printed news deliverers from employee definitions under labor law, Senate Bill 114 on spirituous liquor manufacturer sales rooms, Senate Bill 162 on releasing healthcare test results to patients, Senate Bill 23 on school finance, Senate Bill 93 on workers’ compensation coverage compliance, Senate Bill 155 on homeowners insurance availability, Senate Bill 146 on restricting single-use food service ware, and Senate Bill 156 on State Workforce Development Council practices. Most of these bills passed, with recorded opposition on several measures: SB 91 passed 26-8, SB 114 passed 31-3, SB 162 passed 29-5, SB 93 passed 19-15, SB 155 passed 22-12, SB 146 passed 20-14, and SB 156 passed 32-2. SB 23, the school finance act, drew broad support and passed 34-0 after multiple senators emphasized education funding priorities and constitutional obligations. During debate, senators highlighted policy rationales and personal stories. On SB 162, Senator Weissman explained his no vote as a patient-autonomy concern despite acknowledging the bill’s earnest intent. On SB 23, supporters said the bill preserved and strengthened K-12 funding, while one senator argued schools should do better on safety and teacher pay. On SB 155, supporters said the homeowners insurance bill could help change market direction and improve affordability. On SB 156, Senator Marchman described the bill’s focus on out-of-school youth and the need to connect young people who are not in education, employment, or training with workforce supports. The Senate also began special-order second reading of consent-calendar bills, adopted the committee reports, and advanced House Bill 1313 on affordable housing fund requirements with amendments related to Prop 123 implementation and stakeholder processes.

Transcript Highlights:

• This is a public hearing of the Joint Committee on Health Care Financing.
• Chairwoman Friedman, Chairman Lawn, and members of the Joint Committee on Health Care Financing, for
• Thank you, Chair Lawn and Committee on Health Care Financing. My name is Chris Ho.
• My finances will never recover.
• I have Chair Friedman, Chair Lawn, and members of the Joint Committee on Health Care Financing.

Keywords: 995, all

Summary: The Joint Committee on Health Care Financing held a public hearing on 16 bills, with the chairs noting a busy legislative day and asking speakers to keep testimony brief. The committee first heard testimony on Senate 860/House 1405, the Medicare for All bill, with Sen. Jamie Eldridge and many advocates, clinicians, municipal officials, and patients arguing that a single-payer system would make care a right, reduce administrative waste, lower costs, and protect residents from rising premiums, medical debt, and hospital closures. Several speakers cited the Steward hospital crisis, affordability problems, and polling or ballot questions showing public support for single-payer coverage. No vote was taken during the hearing. The committee then took testimony on S. 863, a bill on non-opioid options for chronic pain. Pain specialists, patients, and advocates said the bill would improve care coordination for MassHealth members, expand access to non-opioid medications, require provider education, and collect data on chronic pain. Testifiers described long delays in diagnosis and treatment, stigma toward pain patients, and the need for multidisciplinary care and transportation support. Again, the committee heard testimony only and took no action. A large portion of the hearing focused on H. 1360/S. 869, which would prevent discrimination against people with disabilities in health care. Disability advocates, clinicians, and patients described being denied or delayed care, pressured into DNR orders, or treated based on assumptions about quality of life rather than medical facts. Speakers referenced COVID-era crisis standards of care, discriminatory metrics, and personal stories involving canceled procedures, inadequate accommodations, and poor treatment in hospitals. Committee members thanked speakers for their testimony and said they would review the bill and its implications, but no vote was announced. The committee also heard testimony on H. 1399, an individual Medicare marketplace option for municipal retirees, where supporters said it would give cities and towns a lower-cost alternative for retiree health benefits through HRAs and individual Medicare plans. The hearing then returned to Medicare for All testimony, with additional supporters repeating arguments about cost, access, municipal budget pressure, and the need for global budgeting and universal coverage. The transcript ends with continued testimony and no recorded committee vote or final action on any bill.

Transcript Highlights:

• The bill is reported to Finance. All those in favor? Opposed or abstaining?
• The bill is reported to Finance.
• The bill is reported to Finance.
• The bill is nonetheless reported to Finance. Thank you.
• The bill is nonetheless reported to finance. Thank you.

Keywords: 993, senate, all

Summary: The Senate Standing Committee on Crime Victims, Crime and Correction met with a quorum and considered 10 bills. The committee advanced measures on crime victims’ awards (S.156), Inspector General review of sexual assault complaints in correctional facilities (S.429), expanded substance use programming access for non-English-speaking incarcerated people (S.863), preliminary license application procedures to identify criminal-history disqualifications early (S.1048, the PLAN Act), visitation rules for local correctional facilities (S.1892B), lethality assessments in domestic violence incidents (S.2280B), breast pumps for certain incarcerated nursing parents (S.2666A), time allowances when program completion is prevented by circumstances beyond an individual’s control (S.3974), health and human rights protections for incarcerated pregnant people and their children (S.4583A, the CARE Act), and visiting policies for incarcerated individuals (S.5037). Most bills were reported to Finance; S.1892B was reported from committee, and several members noted prior Senate passage or recurring support for some of the measures.

Transcript Highlights:

• The Senate Finance Committee is going to run up to hear that.
• House Bill 1, having been read twice by title, is referred to the Senate Finance Committee.
• I yield to Senator Muñoz to announce the Senate Finance Committee. Thank you, Mr. President.
• Senate Finance is going to go in at, let's just say, 11.
• Office at 325 or 322, 1140 Senate Finance. We'll be meeting. Thank you, Senator Muñoz.

Transcript Highlights:

• Operations Division I'm just the finance Operations Division I'm just going<00:08:44.440> to<
• division so there is some finance division so there is some criteria<00:08:52.040> that<00:08
• <00:09:30.880> division<00:09:31.880> again and then the finance division again and
• So the cause here is very similar to the cause that we saw in the first finding: the finance division
• That finance division, they're signing off on it.

Keywords: 1183, house

Summary: The committee approved the January 16, 2024 minutes without objection. Members then heard a presentation from the Office of the Legislative Auditor on its December 2024 performance audit of the Department of Human Services’ outstanding provider debt in Minnesota’s Medicaid fee-for-service program. Legislative Auditor Judy Randall said the audit was launched after the office noticed a large accounts receivable balance during the state financial statement audit and became concerned that DHS did not understand the extent of the overpayments, had poor data, and planned to forgo recovery of some recoverable balances. Deputy Legislative Auditor Lori Lyson explained that DHS had reported $51.7 million in provider debt across about 2,500 providers in fiscal year 2023, with testing focused on long-term care facilities and the largest balances. The audit concluded DHS did not comply with legal requirements and lacked adequate internal controls. Findings included that DHS had not attempted to recover more than $40 million since collection notices were last sent in 2015 and 2019; that the department planned to write off some balances under $1,000 and some older than six years despite the auditors’ view that at least some of that debt may still be recoverable; that DHS overstated accounts receivable in its financial reporting because it had not updated its allowance calculation since 2019; and that MMIS data were insufficient to verify balances, with 20 of 59 sampled providers not reconciling and many dates inaccurate. In response to member questions, the auditors said the overpayments appeared to be routine program adjustments rather than fraud, but the department could not explain many of them because detailed data are only retained for about three years. They also said they did not know which specific DHS leader approved not collecting the debt, and that responsibility for recovery appeared split between program and finance staff, with each pointing to the other. The auditors recommended DHS recover the debt where possible, improve internal controls, retain better documentation, ensure accurate financial reporting, and work with the legislature if needed to clarify recovery authority.

Transcript Highlights:

• put on an amendment in the finance put on an amendment in the finance committee.<00:31:12.160>
• And the Finance Committee is the last stop for these bills.
• bill that we had stricken the finance bill that we had stricken the finance things<01:49:40.160>
• Is there discussion from members of the Finance Committee?
• Is there discussion from members of the Finance Committee?

Keywords: 1187, senate, all

Transcript Highlights:

• Obviously, I'm not on the Finance Committee, so Finance is going to kind of do, at least in terms of
• Obviously, I'm not on the Finance Committee, so Finance is going to kind of do, at least in terms of
• Obviously, I'm not on the Finance Committee, so Finance is going to kind of do, at least in terms of
• Obviously, I'm not on the Finance Committee, so Finance is going to kind of do, at least in terms of
• Obviously, I'm not on the Finance Committee, so Finance is going to kind of do, at least in terms of

Keywords: 928, house, all

Summary: The committee first took up House Bill 313 and, on motion by Representative Perez, voted to retain the bill because members felt it needed further work and was not ready for final action. The motion passed 18-0, and no further action was taken on the bill. House Bill 391, an anti-SLAPP measure, was then discussed; supporters said it addressed a real problem and should move forward, while opponents raised concerns that it was too broad, could affect criminal cases, and might create procedural complications. The committee voted 18-0 to retain HB 391 as well, and it was placed on consent. The committee next considered House Bill 462, establishing a cause of action for unwarranted video imaging of residential properties. Representative McFarland moved OTP, saying the bill raised First Amendment and property-rights concerns. The motion passed 18-0, and the bill was also placed on consent. The committee then turned to House Bill 509, which would require reporting on forfeitures. Supporters argued the information was useful for future legislation, while opponents said the reporting would be costly, duplicative, and potentially split data across fiscal years. The committee voted 11-7 to recommend OTP, with a minority of members opposed. House Bill 520, authorizing Department of Education hearing officers to issue subpoenas, drew the most extended debate. Supporters argued DOE needed the same tools other agencies have, while opponents said DOE already had access to needed information, the Attorney General could handle subpoenas, and the bill would create an unbalanced process and raise due process and student-record concerns. Representative Tur offered Amendment 0842H to shift subpoena power from DOE hearing officers to the Attorney General; after debate, the amendment failed 10-8. The transcript cuts off as the committee begins the roll call on the underlying bill after rejecting the amendment.

Transcript Highlights:

• Um, I developed this bill in consultation with campaign finance board director Jeff Seagerson after the
• board website where the campaign finance board website where our<00:02:35.120> information<00
• <00:02:38.800> board<00:02:39.040> felt and the campaign finance board felt and the
• This is providing for classification of reports that are going to the Campaign Finance Board.
• So these are statements filed with local officials and not with the Campaign Finance Board.

Keywords: 1183, house

Summary: The committee took up House File 3363, a bill focused on protecting the privacy and safety of legislators and other candidates by limiting public access to home addresses and related information in campaign finance and election filings. The author said the bill was prompted by the events of June 14 and was intended to make temporary Campaign Finance Board changes permanent. No public testimony was offered, and the author explained that the bill had been narrowed and reorganized after a Senate delete-everything amendment expanded its scope. Members then considered a series of amendments. The A1 amendment, which added security devices and security services as allowable non-campaign disbursements, was adopted after questions about family relationships and whether payments to relatives could qualify. The A2 through A9 amendments were also adopted, covering data classification or redaction of street addresses in Campaign Finance Board reports, lobbyist gift reports, candidate affidavits of candidacy, nominating petitions, local government candidate reports, and retroactive redaction of existing reports. The A4 amendment was modified by A12 to apply city, state, and ZIP code reporting to political committees, political funds, and party units. The A13 amendment removed a proposed misdemeanor penalty tied to disclosure violations, and the A14 amendment was adopted to give caucus and chamber leaders access to actual candidate addresses, though members noted the language still needed refinement and that the intent was to continue working on it. There was discussion about whether the address-access language in A14 would apply to all candidates or only legislative candidates, and whether it would affect residency disputes; staff said it would not change complaint or court processes, but could be a data point. Several members said they had concerns about the breadth of the language but were willing to keep working on it. After the amendments were adopted, the committee moved to the bill as amended and recommended that House File 3363 be re-referred to the Judiciary Committee.

Transcript Highlights:

• <00:17:11.199> and I'm with the Office of Finance and I'm with the Office of Finance and Operations
• other one is our education finance other one is our education finance application<00:19:32.640><
• And then education finance application.
• of finance at KET. of finance at KET.
• Now, we would like for the finance and Now, we would like for the finance and administration<00:53:06.480

Keywords: 958, all

Summary: The Capital Planning Advisory Board met for its first meeting of the year, confirmed a quorum, approved the prior year’s minutes, and welcomed new co-chairs and members. The board reviewed the capital planning timeline and a list of agencies that submitted plans but would not testify. Members were reminded to keep presentations brief because of a packed agenda. The Cabinet for Health and Family Services presented first, outlining priorities centered on public safety, infrastructure preservation, and preventive maintenance. Its requests included a $21 million maintenance pool, phase two funding for a new state public health laboratory, construction of an 18-bed children’s psychiatric hospital, and several projects at Western State Hospital and Western State Nursing Facility, including HVAC work, cooling tower repair or replacement, and chiller plant repiping. Additional projects covered elevator upgrades at Hazlewood and phased cottage renovations at Oakwood. Board members asked about vacant buildings, the cost per bed for the youth psychiatric facility, and the relationship between the CHFS youth facility and a separate DJJ facility; CHFS said the youth facility would serve DCBS-involved youth and be separate from the DJJ project. The Kentucky Department of Education then described its state-operated facilities, including the Kentucky School for the Deaf, the Kentucky School for the Blind, and the FFA leadership training center. Its priorities included additional funding for the FFA classroom and activity building, a rewrite of the SEEK education finance application system, renovation and repair of the FFA swimming pool, electrical upgrades, campus education enhancements, safety and security work, door and window replacements, and HVAC maintenance. Members asked about student outcomes, the size and cost of the swimming pool project, and construction cost assumptions; KDE said it tracks student outcomes through special education staff and that current estimates reflect higher post-COVID construction costs. The Education and Labor Cabinet began its presentation with 12 priority projects, including a state labor exchange system, renovation of the McDow Vocational Rehabilitation Center, and a new adult education and family literacy management information system. The cabinet said the labor exchange would connect job seekers and employers at no cost, while the McDow renovation was needed because the 30-year-old facility faces safety and code concerns. The cabinet planned to continue through the remaining priorities and answer questions at the end of its presentation.

Transcript Highlights:

• Brennan Cassina, Department of Finance.
• Brennan Cassina, Department of Finance.
• Tamara Weber, Department of Finance.
• So Sabrina Adams, Department of Finance... Sure, so Sabrina Adams, Department of Finance.
• Lisboskosio with Department of Finance.

Keywords: 987, senate, all

Summary: The subcommittee first heard May Revision items for child support, child care, and related human services. The Department of Child Support Services described two technical adjustments, which the LAO said raised no concerns. The Department of Social Services then walked through child care proposals, including a shift in how federal and Proposition 64 funding reductions would be absorbed, a 2.01% COLA, disaster-related child care infrastructure grants, an increase in in-contract administrative support costs for alternative payment agencies, reversion of prospective-pay implementation funding after a federal rule change, a one-time allocation to cover the first quarter of Cost of Care Plus payments in the next fiscal year, reappropriation for existing infrastructure grant closeout work, and estimates of unspent child care funds. The department also outlined trailer bill language on a single rate structure, site safety and emergency procedures, CalWORKs child care data sharing, and child care oversight. The LAO recommended that the Legislature seek more justification for shifting reductions from General Child Care to the Alternative Payment Program, noting that CAP reductions affect more slots and that General Child Care has had significant unspent funds. It supported removing prospective-pay funding, but recommended rejecting the administrative cost shift to a percentage-based rate because it could create future General Fund pressure. It also suggested the Legislature review alignment between the disaster grants and the child care infrastructure program. Senators and members pressed the administration on why the budget would reduce child care slots and COLA percentages while the state still has waitlists and unspent funds, and questioned the need for early funding of Cost of Care Plus payments and the move from a flat administrative amount to a percentage. Public commenters, including providers, advocates, county offices, and infrastructure partners, urged full COLA funding, preservation of child care slots, support for prospective pay, and continued investment in child care access and facilities. After a short recess, the committee moved to Part B on health and heard the Department of State Hospitals. DSH presented a May Revision budget of $3.2 billion and described proposals for a central utility plant replacement at Metropolitan State Hospital, an electronic health record implementation, reduced county bed billing authority due to phased-in LPS bed capacity, limited contract exemption authority for online clinical subscriptions, reversion of prior-year unspent operating funds, and a workforce development proposal shifting some costs to Behavioral Health Services Act funds, including support for an additional psychiatric training cohort at Napa. The department also outlined IST-related savings and a trailer bill to remove the sunset on the independent placement panel program.

Transcript Highlights:

• They would have to use big financing because it all has to go through and be approved by the finance
• They would have to use big financing because it all has to go through and be approved by the finance
• they were put under the finance they were put under the finance department<00:13:34.480> for<
• This simply would finance department.
• under the Department of Finance. under the Department of Finance.

Bills: SB170, SB177, SB207, SB208, SB215, HB27, SB219, SB247, SB232, SB81

Keywords: 923, senate, all

Transcript Highlights:

• Jacob Kern, Department of Finance.
• Jacob Kern, Department of Finance.
• Yeah, Aminelbin, Department of Finance.
• Lourdes Morales, Department of Finance.
• Megan Tokanaga Block, Department of Finance.

Summary: The Assembly Budget Committee held an informational hearing on the final three-party budget agreement and related trailer bills, with the Department of Finance outlining the major budget bill and omnibus measures. Finance described a package built around balancing the state budget amid economic uncertainty, preserving core health and safety-net programs, and making significant ongoing reductions in some state programs. The budget bill included major items such as shifting $1 billion from the General Fund to the Greenhouse Gas Reduction Fund for Cal Fire, funding universal transitional kindergarten, deferring some UC and CSU funding, supporting foster care and homelessness programs, providing Proposition 36 implementation funding, and achieving Medi-Cal savings through changes to benefits and eligibility. The committee also heard that votes on the budget bills were expected later in the week and the following Monday. Finance then walked through the trailer bills, including health, human services, early learning, education, resources, energy, transportation, labor, housing, tax, public safety, courts, general government, cannabis, and energy-related measures. Notable provisions included a Medi-Cal enrollment freeze for certain adults, new premiums and benefit changes for some immigrants, child care COLA changes, education funding for literacy, teacher support, universal meals, and community college student support, as well as resource and climate measures affecting Cal Fire staffing and energy permitting. The housing trailer bill drew the most discussion, with provisions on CEQA streamlining, a vehicle miles traveled mitigation banking program, a renters’ credit trigger, and a six-year moratorium on new residential building standards. Members also discussed a film tax credit expansion, cannabis enforcement funding, a tribal police pilot program, and changes to tax policy, including military retirement income exclusions and wildfire settlement payment exclusions. Committee members largely praised the staff and the budget process, but several raised concerns and asked detailed questions, especially about the housing trailer bill’s new wage standards, tribal consultation provisions, and possible effects on prevailing wage protections. Finance explained that the housing language was intended to set wage floors for market-rate projects receiving CEQA streamlining, with different county-based tiers and a notwithstanding clause preserving existing prevailing wage laws. Members also questioned the size and timing of funding for the Children and Youth Behavioral Health Initiative, Clean Cars for All, Proposition 36, and the film tax credit expansion. Other members highlighted support for public safety, veterans’ tax relief, child care providers, housing production, and higher education, while some expressed concern that the budget’s policy changes were being negotiated too quickly or without enough stakeholder input.

Transcript Highlights:

• Amendment No. 98, proposed by the Senate Committee on Finance. Senator Dondero Loop.
• Finance behind the bar, please. Finance behind the bar, please. Finance behind the bar.
• Amendment No. 981 proposed by the Senate Committee on Finance.
• Amendment No. 982 proposed by the Senate Committee on Finance.
• to assist school districts with financing capital improvements.

Keywords: 909, all

Transcript Highlights:

• , Maple Finance.
• and Maple Finance.
• and Maple Finance.
• and Maple Finance.
• finance and trady, traditional finance. finance and trady, traditional finance.

Keywords: 1189, house, all

Summary: The Stable Token Study Commission held its first regular meeting, welcomed all remaining appointed members, and completed brief introductions from legislators and agency designees. The chair outlined the commission’s plan to use the first part of the enabling legislation as a “level-setting” discussion, focusing this meeting on the basics of blockchain, the current landscape for stablecoins and tokenized real-world assets, and leaving blockchain-based trust for a later meeting. No votes were taken. The main presentation came from Deanna Bario Zales of the Global Blockchain Business Council, who described stablecoins as increasingly converging toward fiat-backed or asset-backed models, with algorithmic designs viewed more cautiously. She said stablecoins are being used for payments, remittances, DeFi activity, cross-border transfers, retail use in high-inflation markets, and treasury functions, while noting risks such as peg instability, reserve transparency, counterparty and network risk, and possible capital flight from weaker banking systems. She cited growth in supply, wallet activity, and transfer volume, and said U.S.-pegged stablecoins dominate the market, with USDT and USDC leading. Zales also discussed tokenized real-world assets, describing them as digital representations of physical assets that can enable fractional ownership, liquidity, and faster settlement. She said the market is growing quickly, with institutional participation from firms such as BlackRock and Franklin Templeton, and projected continued expansion. She closed with an overview of regulatory developments, emphasizing the new U.S. stablecoin framework under the Genius Act, the proposed Clarity Act, OCC guidance, and similar regimes in the EU, UK, UAE, Singapore, Japan, and elsewhere, all of which she said are shaping compliance requirements and market development.

Transcript Highlights:

• I am glad to ask to move HF 1771 out of Education Policy to go toward Education Finance and Committee
• I ask that the Committee on Education Finance refer this HF 1771. Thank you, Madam Speaker.
• <00:10:41.760> and<00:10:41.920> committee towards education finance and committee
• towards education finance and committee that<00:10:42.440> I'm<00:10:42.600> proud<00:10
• of Education Finance uh refer this<00:11:07.519> HF<00:11:08.600> 1771<00:11:09.600>

Keywords: 1183, house