Video & Transcript Research : 'subsidiary'
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VT
NM
New Mexico 2026 Regular Session
Senate - Tax, Business and Transportation Feb 5th, 2026 at 04:18 pm
Senate Tax, Business & Transportation
Transcript Highlights:
- SB 151 also taxes foreign subsidiary income without providing a foreign tax credit, creating a real risk
- Congress did in 2017, and then increased that amount in 2025, was essentially to convert foreign subsidiaries
- The difference is now that Congress has sort of changed the picture to make these foreign subsidiaries
Bills:
SB190, SB152, SB77, SB150, SB151, SB156, SB172, SB182, SB185, SB212, SB170, SB133, SB174, SB163
Keywords:
cancer treatment, revenue bonds, Gila Regional Medical Center, Nor-Lea General Hospital, healthcare funding, telecommunications, low-income assistance, lifeline, broadband, rural broadband, universal service fund, public regulation commission, PRC, 911 surcharge, telecommunications relay service, VoIP, mobile service, internet affordability, digital equity, digital inclusion
AL
Summary:
The meeting included a Senate recognition ceremony honoring the Winona High School boys basketball team for winning the 2026 Alabama High School Athletic Association 5A state championship. A resolution was read commending the team for its 101-40 victory over Silicag, noting the team’s record-setting performance, Brendan Davis’s MVP honor, the contributions of other players, and Coach Cedric Lane’s leadership. Senators and the lieutenant governor praised the players’ sportsmanship, the school community, and the team’s historic season, and copies of the resolution were presented to the team, coaches, and administrators. Several guests and school representatives also spoke briefly, including the coach and principal, who thanked the Senate and noted the team’s success and the principal’s retirement after 35 years.
After the recognition, the Senate returned to session and adopted the Committee on Rules report setting the special order calendar. The calendar included Senate Bill 99 on the Ten Commandments, Senate Bill 298 on Class 3 municipalities, House Bill 381 on camp safety, Senate Bill 370 on tax increment districts, Senate Bill 363 on the Department of Economic and Community Affairs, House Bill 466 on firefighters, House Bill 95 on elections, House Bill 259 on stablecoin, and Senate Bill 342 on education.
The chamber then took up SB 99, sponsored by Senators Kelly and Sessions. Senator Kelly described the bill as requiring local school boards to display the Ten Commandments, together with founding documents such as the Declaration of Independence, Constitution, Bill of Rights, and Alabama Constitution preamble, in certain history classrooms and common areas for grades five through 12, using donated displays and funds when available. He said the bill was intended as a historical and educational measure, not religious instruction, and emphasized the inclusion of a disclaimer stating Alabama is not establishing a religion. After extended debate and a petition to close debate from the Rules Committee, the Senate voted on the bill by long roll and passed SB 99, with the recorded vote announced as 30 yeas and 4 nays.
MN
Transcript Highlights:
- The bill bars any organization from receiving state grants if that entity or its subsidiary has been
- ><00:07:38.400>
entity <00:07:38.800>or <00:07:39.039>its <00:07:39.199>subsidiary - <00:07:39.840>
has if that entity or its subsidiary has if that entity or its subsidiary has
KY
Kentucky 2026 Regular Session
Senate Standing Committee on Appropriation and Revenue. (2-4-26)
Transcript Highlights:
- structured, because we insisted that we have the full totality of the enterprises guaranteeing it, not a subsidiary
- 04.320>
a of the enterprises guaranteeing it not a of the enterprises guaranteeing it not a subsidiary - 05.920>
then <00:09:06.080>the <00:09:06.240>other <00:09:06.560>$125 subsidiary - And then the other $125 subsidiary.
Keywords:
Meeting Start 00:00:00
Roll Call 00:00:04
Economic Development Projects Funding 00:01:25
Blue Oval SK 00:05:20, 958, all
Summary:
The committee met with a quorum to hear a recap of the 2021 special session legislation, Senate Bill 5, and then receive testimony from the Secretary of Economic Development on the Blue Oval SK project and related economic development issues. Staff explained that Senate Bill 5 appropriated five amounts from the budget reserve trust fund for a project tied to a minimum $2 billion investment: $350 million for forgivable loans through the Kentucky Economic Development Finance Authority, $10,639,600 to pay off a Hardin County loan tied to 47 tracts of property, $20 million for Bluegrass State Skills Corporation training grants, $5 million for KCTCS training grants, and $25 million for a KCTCS on-site training center. Staff also noted there were no job-related requirements in the bill itself.
The secretary said the Blue Oval SK incentive was structured as a $250 million forgivable loan rather than the state’s usual pay-as-you-go incentives, with clawback provisions tied to jobs, wages, investment, and changes in ownership or operations. He said the project had already exceeded the $2 billion investment threshold, that corporate guarantees were required from SK On and Ford, and that the agreement’s compliance period begins in December 2026 with payments starting in March 2027 and running through 2038. He said the state’s goal after the joint venture dissolution was to protect taxpayers, support affected workers, and preserve future job creation, while also ensuring the money would be repaid if performance targets are not met.
Members asked about the workforce impact, the training programs, and whether the jobs targets would be revised. The secretary said the project had about 1,850 workers at the site, with both production and salaried employees affected, and described state-led job fairs, a job portal, and other rapid-response efforts to help displaced workers find new jobs or training. He said Ford had agreed to continue discussions, invest an additional $2 billion in the site for energy storage solutions, and pursue roughly 2,100 new jobs, while the state sought to keep the company accountable for the full repayment obligation if jobs are not created. One senator raised broader concerns about mega-projects displacing small businesses and creating infrastructure burdens in surrounding communities.
NH
Transcript Highlights:
- Uh, we have a number of subsidiaries that are in this country that are owned by a corporation that's
- >> The way I recollect the definitions is if it's a U.S. subsidiary, if the money is coming from the
- or affiliate of a foreign subsidiary or affiliate of a foreign legal<00:26:19.279>
entity <00: - <00:26:59.679>
of <00:27:00.080>of may be from a local subsidiary of of may be from - a local subsidiary of of BMW<00:27:02.720>
for <00:27:02.880>example.
HI
Transcript Highlights:
- you're going to get that from the suite of, say, a fishery company or a large company that has many subsidiaries
- <01:06:17.760>
that <01:06:18.079>has <01:06:18.240>many <01:06:18.559>subsidiaries - large company that has many subsidiaries large company that has many subsidiaries [clears throat
Summary:
The House Committee on Higher Education met on February 4 and began with announcements about committee protocol, including posting hearing notices and testimony earlier than required and using written HD1 drafts for more complex amendments. The chair also noted the new AV system and asked speakers to be clear because the microphones are sensitive. The committee then took up several University of Hawaiʻi-related measures, with most testimony coming from UH officials, state agencies, and advocacy groups, and no votes were taken in the portion provided.
HB 1596, relating to student basic needs support at the University of Hawaiʻi, drew support from UH, the Oʻahu Youth Action Board, and an individual. UH said it stood on its written testimony and could answer questions. HB 1597, relating to Alzheimer’s disease and related dementias research, received support from UH/JABSOM, the Alzheimer’s Association, the Hawaii Medical Association, and others; the Attorney General’s Office offered a procedural reminder about statewide concern. HB 1970, funding the University of Hawaiʻi Cancer Center and the Hawaii Tumor Registry, was supported by UH, the American Cancer Society Cancer Action Network, the Hawaii Medical Association, and others, with testimony emphasizing the registry’s role in cancer surveillance, prevention, and federal funding.
The committee also heard HB 1598, creating a Hawaii Climate Institute. UH testified in support, citing worsening drought, heat, sea level rise, and extreme weather, and said the institute would hire climate modelers and faculty across several schools. Members questioned funding, and UH said it would seek state startup money, possible green-fee support, and federal grants, noting recent federal cuts and the need for permanent positions. HB 1989, on water retention, was supported by UH as a study to slow runoff and improve aquifer recharge. HB 1951, on biosecurity, drew support from UH, DLNR, the Hawaii Farm Bureau, students, and other organizations; testimony stressed invasive species threats, the need for biocontrol research and containment capacity, and possible sites for a statewide facility. HB 1952, funding agricultural research station improvements on Kauaʻi, was supported by UH, the Farm Bureau, and others, with testimony noting aging facilities and the need to modernize stations across the islands. Finally, HB 2005, relating to language access, received UH support, with a UH representative noting that credit programs may fit best in a credit-bearing academic program and that Outreach College could be an option for noncredit programs.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on State Administration and Regulatory Oversight Jun 21st, 2026 at 01:00 pm
Joint Committee on State Administration and Regulatory Oversight
Transcript Highlights:
- But because it's sort of pocket parcel as a subsidiary or whatever, is it typically within the same organization
- , or can it be a wholly owned subsidiary?
- These companies are so big and so diverse often that they can be subsidiaries of the same company within
Summary:
The Joint Committee on State Administration and Regulatory Oversight heard testimony on several procurement-related bills. Senator Lovely and steel industry witnesses supported S. 2167/H. 3411, which would require preference for U.S. manufacturers on public construction projects using steel and other materials. They argued that Canadian and other foreign fabricators underbid Massachusetts firms because of exchange rates, subsidies, and different labor-cost structures, causing local job losses and economic leakage. Committee members asked about tariffs, market share, and whether the bill should be folded into broader municipal legislation; the witnesses said public work should stay in Massachusetts and that the bill would help preserve local industry and jobs.
The committee also heard strong support for S. 2107, a bill to increase employment opportunities for people with disabilities in state and municipal contracting. Work Inc. testified that a preference for contractors employing people with disabilities would expand competitive employment, reduce reliance on public assistance, and generate net savings for taxpayers. Members asked about the estimated savings and whether recent federal changes to benefits would affect the numbers; the witness said the figures may need updating but that the underlying employment opportunity remains important. Another bill, H. 3339/S. 2187, would prohibit state and municipal contracts for new artificial turf fields containing zinc, plastic, or intentionally added PFAS. Sponsors and supporters cited health risks, heat retention, injuries, and PFAS contamination, while committee members discussed local bans, disposal problems, and whether indoor facilities or alternative materials could be used.
Inspector General Jeffrey Shapiro testified in favor of H. 12 and H. 13, which would update Chapter 30B procurement thresholds and allow municipalities to bundle snow hauling and removal with plowing contracts. He said the changes would give local governments more flexibility, reduce confusion between school and municipal procurement rules, and make snow contracts more attractive to vendors. Members questioned whether quasi-public agencies and state entities should also be subject to 30B, and Shapiro said many public entities have their own procedures but that transparency and fairness should apply across the board. The committee also heard support for S. 2150, a software licensing bill aimed at preventing vendor lock-in by ensuring state agencies can run purchased software in the infrastructure that best fits their needs; the witness said restrictive licensing can drive up costs and create cybersecurity and modernization problems, and that similar laws have already passed in several other states.
TX
Transcript Highlights:
- UK subsidiaries also employ about 120,000 people here in the great state of Texas.
Keywords:
SJR 2, Senate Joint Resolution 2, constitutional amendment, homestead exemption, property tax relief, school property tax, ad valorem tax, residence homestead, school district taxes, Texas Constitution Article VIII, public school finance, homeowner exemption, elderly exemption, senior tax relief, disabled exemption, tax year 2025, voter approval, November 2025 ballot, local government, Ways & Means
TX
Texas 89th Regular
Press Conference: Senator Tan ParkerRegarding the establishment of the Texas Legislative UK Caucus. Joined by UK Consul General Sujeevan Satheesan; Senators César Blanco and Brent Hagenbuch; and Representatives Claudia Ordaz and Matt Shaheen. Feb 11th, 2025
Texas Senate Floor Meeting
Transcript Highlights:
- UK subsidiaries also employ about 120,000 people here in the great state of Texas.
NM
New Mexico 2026 Regular Session
House - Taxation and Revenue Feb 18th, 2026 at 08:43 am
House Taxation & Revenue
Transcript Highlights:
- SB 151 also taxes foreign subsidiary income without providing a foreign tax credit, creating a real risk
- government's attempt to sweep in all of the money from U.S. companies that have established foreign subsidiaries
Bills:
SB240
Keywords:
capital outlay, capital projects, severance tax bonds, general fund appropriations, supplemental severance tax bonds, UNM School of Medicine, University of New Mexico, infrastructure, state buildings, courts, schools, higher education, road improvements, water and wastewater, tribal infrastructure, tribal projects, public safety, housing, emergency services, bonding
NM
New Mexico 2026 Regular Session
Senate - Conservation Feb 12th, 2026 at 09:03 am
Senate Conservation
Transcript Highlights:
- a precedent that enables manufacturers to bypass the franchise system by creating wholly owned subsidiaries
- and new line... ...bypass the franchise system by creating wholly owned subsidiaries and new line making
MN
Minnesota 2025-2026 Regular Session
Working Group on Omnibus Taxes Bill - 05/23/25
Minnesota Senate Floor Meeting
Transcript Highlights:
- company that extracts taconite or, in this case maybe extracts helium, will sort of exist as a subsidiary
- of a subsidiary of a subsidiary that ceases to exist once the activities, you know, once something,
- <01:32:19.199>
of <01:32:19.360>a <01:32:19.520>subsidiary <01:32:20.000>of - c><01:32:20.159>
a subsidiary of a subsidiary of a subsidiary of a subsidiary of a subsidiary<- that ceases to exist once the subsidiary that ceases to exist once the um<01:32:24.639>
once < - c><01:32:20.159>
TX
Transcript Highlights:
- Companies, particularly in auto, are going to have multiple subsidiaries that they write in.
- not so much going to be a declination; it's going to be placing that applicant in one of those subsidiaries
- Right, or we want to cover you in a different one of our subsidiaries.
Keywords:
HB 1818, Texas Insurance Code, Texas Department of Insurance, commissioner of insurance, health maintenance organization, HMO, insurer, utilization review, preauthorization, prior authorization, medical necessity review, health care services, medical care, insurance regulation, insurance examination, regulatory oversight, confidential records, public information exception, Chapter 843, Chapter 1301
MN
Minnesota 2025-2026 Regular Session
Committee on Energy, Utilities, Environment and Climate - 02/25/26
Energy, Utilities, Environment, and Climate
Transcript Highlights:
- investment firm, um, the Canadian pension fund, and then Global Infrastructure Partners, which is a subsidiary
- global infrastructure partners which<00:55:08.960>
is <00:55:09.040>a <00:55:09.280>subsidiary - <00:55:09.839>
of <00:55:10.000>the <00:55:10.160>Black which is a subsidiary - of the Black which is a subsidiary of the Black Rockck<00:55:10.800>
Corporation.
FL
Florida 2025 Regular Session
November 18, 2025 - 08:00 AM
Transcript Highlights:
- I work for Lloyds America, which is the U.S. subsidiary of the Corporation of Lloyds.
- Lloyd's syndicate operate similar to a subsidiary within their group structure.
US
Transcript Highlights:
- international tax provisions eliminated what was previously deferral Which was the fact that a offshore subsidiary
- may be referring to the fact that when the U.S. does currently taxes income earned by offshore subsidiaries
Keywords:
Commerce, International Trade, Tax Policy, Nominees, Inflation, Middle-class, Trade Practices, Economic Concerns
Summary:
The committee convened to discuss various bills and nominees, including the critical nominations of William Kimmett for Undersecretary of Commerce for International Trade and Ken Keyes for Assistant Secretary for Tax Policy at the Treasury Department. Discussions highlighted the nominees' roles in managing critical trade and tax policies amidst rising economic concerns, particularly focusing on inflation and its impact on American families. Members expressed both support and skepticism, emphasizing the significance of fostering fair trade practices and ensuring tax policies that benefit the middle-class amidst claims of an agenda favoring affluent individuals and corporations.
MN
Transcript Highlights:
- Brian Dickson: We have subsidiaries in almost all countries, but beer is very local, right?
- Our subsidiary that produces Aguila is taxed on its income that it generates in Colombia. difficult.
- Our<00:17:38.120>
subsidiary Our subsidiary Our subsidiary that<00:17:39.920>produces < - if we look at how this tax on GILTI impacts us, a domestic manufacturer, mentioned our Colombia subsidiary
NH
Transcript Highlights:
- They are a subsidiary of the state government.
- As such, teachers are effectively employees of local government, which is a subsidiary of state government
- They are<01:56:02.560>
a <01:56:02.800>subsidiary <01:56:03.199>of <01:56:03.360> the <01:56:03.520>state are a subsidiary of the state are a subsidiary of the state government- <01:56:08.320>
of government, which is a subsidiary of government, which is a subsidiary of
KY
Kentucky 2025 Regular Session
Senate Standing Committee on Natural Resources & Energy (2-12-25)
Transcript Highlights:
- Wheeling Power is also a wholly-owned subsidiary of American Electric Power, is it not?
- > a Um, Wheeling Power is also a Um, Wheeling Power is also a wholly-owned<00:25:22.680>
subsidiary - <00:25:23.560>
of <00:25:23.840>American wholly-owned subsidiary of American wholly-owned - subsidiary of American Electric<00:25:24.680>
Power, <00:25:25.080>is <00:25:25.240>
Keywords:
Meeting Start 00:00:00
Attendance Roll Call 00:01:28
Introduction of Guests 00:02:08
American Electric Power and Kentucky Power Presentation 00:03:31
SB 89 Discussion 00:53:55
SB 89 Roll Call Vote 01:07:46, 958, all
Summary:
The committee met for an initial natural resources hearing with a quorum present and introductory housekeeping, including prayer, roll call, and recognition of guests. Chair Smith outlined ground rules for questions and then invited Kentucky Power and American Electric Power representatives to the table to discuss a proposed plan involving the Mitchell Power Plant and future generation needs in Eastern Kentucky.
Witnesses Cindy Wiseman, Alex Vaughn, and AEP CEO Bill Fehrman said the company’s goals are to stabilize and lower rates, reduce rate volatility, and expand generation in the Commonwealth. They explained that Kentucky Power seeks legislative authority to securitize its 50% interest in the Mitchell coal plant, describing securitization as a refinancing mechanism that would lower annual plant costs by about $34 million and help offset roughly one-third of the expected cost of adding new generation in Kentucky. They emphasized that the proposal is not intended to close Mitchell, and said Kentucky Power currently has no plan to divest its interest; the company still needs the plant to serve customers while it pursues additional dispatchable generation in Kentucky.
Members pressed the witnesses on the plant’s book value versus fair market value, whether the Mitchell interest had ever been assigned a nominal value, how any divestiture proceeds would be handled, whether Kentucky Power owns Wheeling Power, and how long Mitchell can continue operating. The company said it values Mitchell at net book value for accounting purposes, not fair market value, and explained that Wheeling Power is a separate AEP affiliate and that West Virginia affiliates have already proposed securitization of their share. Witnesses said Kentucky Power’s interest cannot technically operate past 2028 without additional environmental control investment, while the West Virginia side is depreciating through 2040. They also described the financing timeline, saying securitization would require enactment of legislation, a PSC financing order, bond issuance, and then parallel work to acquire or build new generation, with any reinvestment terms to be addressed through the regulatory process.