Transcript Highlights:

• I mean, I guess so when we issue bonds with a private activity bond authority that that's a federal resource
• And the mortgages are a little bit higher than what we have to pay on the bonds.
• Okay, so there's collaboration between you and the local authority.
• and the ability to exercise that authority.
• So it's the whole bonding thing.

Keywords: 1184, house, all

Transcript Highlights:

• Does the ability to pay a $1 million bond prevent an entity from exercising this right?
• But at that 25% threshold, the bond becomes a requirement.
• The bond does not prevent that initial work from happening.
• The bond only comes into play when a petition sponsor of that political...
• The $1 million bond is reasonable, and for most bonds what you have to put up is 1% to 5%.

Bills: HB 9, HB 22, HB 908, HB 1392

Keywords: property tax, ad valorem tax, tangible personal property, income-producing property, business personal property, tax exemption, local government finance, appraisal district, chief appraiser, rendition statement, property tax relief, small business, commercial property, leased property, related business entity, unified business enterprise, tax situs, Texas Tax Code, local taxing unit, constitutional amendment

Transcript Highlights:

• Why is it required from a bond repayment perspective?
• Why is it required from a bond repayment perspective?
• But the original intention, that bond has not been settled.
• But at the same time, I know that the board has the authority, and I will execute their authority to
• I know that the board has the authority, and I will execute their authority to the best of my ability

Summary: The committee first adopted revised JBC rules, which staff said were updated to reflect legislation passed in the 2025 session. It then heard a presentation from DFA Secretary Jim Hudson on the governor’s proposed balanced budget for FY27, with no action taken. Hudson said the budget reflects three priorities: limiting state-government growth, continuing investments in education, and advancing income-tax cuts. He highlighted increases for education funding through EFAs, pay-plan costs for Corrections, DPS, and the Attorney General, higher education productivity funding, drug task forces, a Corrections medical contract, the governor’s 1033 initiative, SNAP error-rate reduction efforts, and an additional $100 million set aside for Medicaid sustainability. Committee members questioned the size of the tax cuts, the balance requirement, public education funding, Medicaid trust-fund levels, EFA funding, and the expected impact of new SNAP cost-sharing rules. The Division of Higher Education then presented its productivity-based funding recommendations. Officials said institutions were 2.61% more productive overall, with funding changes driven by a statutory formula that rewards degree production, underserved populations, and high-demand fields. Members asked about declines at UA Little Rock, the formula’s multipliers, the role of the Arkansas Access Act and a new return-on-investment metric, and how two-year colleges are adjusted for size. The committee also reviewed special items and approved two letters: one authorizing 17 net personnel changes across nine institutions, and another adding special language for North Arkansas College’s entry into the University of Arkansas system. The committee then adopted the Higher Education Coordinating Board’s recommendations for all institutions. A lengthy portion of the meeting focused on the University of Arkansas system, especially Fayetteville’s athletics funding and the broader impact of the House/NIL settlement. Chancellor Charles Robinson and system officials explained that the board had waived a longstanding campus transfer and directed the university to provide an additional $6 million to athletics, with some costs likely to be passed through to students but partially offset by existing budget growth. Members debated whether the university should prioritize academics or athletics, how the transfer originated, and whether the athletic changes would affect affordability. The committee also discussed the 1890 extension program at UAPB and the Division of Agriculture’s land-grant funding. UAPB officials said the state match is intended to be one-to-one, that the current recommendation aligns appropriation with actual spending, and that a $2 million set-aside remains available if needed. The Division of Agriculture later clarified that its Smith-Lever extension and Hatch research funds are part of the UA system’s separate budget and that the state matched about $6.2 million in federal extension funding last year. The committee then moved to the Department of Corrections. It approved G1, transferring 51 positions to the secretary’s office to activate a recidivism program, with an estimated cost of about $4 million. Staff then began walking through the department’s FY27 budget, noting an increase of about $8 million for administration and shared services, including a $170,000 sex-offender assessment appropriation moved under Act 723 of 2025 and roughly $6 million more for medical contracts. Questions on the Corrections budget had just begun when the transcript ended.

Transcript Highlights:

• The baby bonds issue is a long-term investment.
• So, what you're saying is that the baby bonds?
• Certain forms of baby bonds, depending on their state.
• On going back to baby bonds, and you answered part of it already.
• I'd love to be part of this continued discussion on payday bonds.

Transcript Highlights:

• I understand you have the act authorizes up to 15 cleanup sites.
• Is that a bond? So, Mr.
• And that's what I'm wondering: is that a bond? Mr.
• , from federal authority.
• That's how we deal with reclamation; we make them put up a bond.

Keywords: 996, all

Transcript Highlights:

• And again, that cost will only bonds.
• to issue those bonds. to issue those bonds.
• This was established finance authority.
• I think we're going to have a bonding<00:42:06.400> bill.
• <00:42:08.000> And<00:42:08.240> so, Bonding bill. I'm hopeful.

Bills: HF2438

Keywords: transportation finance, transportation policy, MnDOT, Minnesota Department of Transportation, Department of Public Safety, Metropolitan Council, highway funding, trunk highway fund, county state-aid highway fund, municipal state-aid street fund, state aid roads, local roads, bridge funding, road construction, transit funding, passenger rail, freight rail, aviation, airport development, safe routes to school

Transcript Highlights:

• they're financed with tax exempt bonds they're financed with tax exempt bonds um<01:28:12.360>
• <01:28:14.239> on um you know people buy those Bonds on um you know people buy those Bonds
• we put back into the issuing these bonds we put back into the bond<01:29:08.639> indentures<01
• serves as the public housing authority serves as the public housing authority for<01:29:51.880><
• <01:29:54.880> that local public housing authority that local public housing authority that

Keywords: 1189, house, all

Transcript Highlights:

• > and Originally authorized in 2006 and Originally authorized in 2006 and extended<00:15:59.120
• <00:20:48.040> approved when we had the authorization approved when we had the authorization
• That is why we have bonding bills.
• They wanted to bond for this.
• They wanted to bond for this.

Keywords: 1183, house

Transcript Highlights:

• Authority, and that adds up to over 70,000 acre-feet.
• Before you today is House Bill 29, authored by Representative Gerdes.
• I mean, who has authority over municipal water authorities? TCEQ.
• It just gives the groundwater district the authority to consider them.
• Water authority wells on this map? They are just off this map.

Bills: HB29, HB685, HB1633, HB1689, HB1690, HB1918, HB2010, HB2500, HB2608, HB2626, HB29

Keywords: water audit, water loss, water loss mitigation plan, municipally owned utility, municipal utility, water conservation, Texas Water Development Board, TCEQ, Texas Commission on Environmental Quality, water leakage, leak detection, billing data accuracy, utility validation, water audit validation, water scarcity, water management, infrastructure, public utility, conservation plan, administrative penalty

Transcript Highlights:

• <00:24:18.440> request the board of regent authorized request the board of regent authorized
• <00:31:33.880> to authorized to sell revenue bonds to authorized to sell revenue bonds to
• <02:07:39.079> Revenue<02:07:39.520> Bond need to increase our bond Revenue Bond need
• know getting the attorneys and bond know getting the attorneys and bond console<02:12:01.599>
• difference remembering that we can Bond difference remembering that we can Bond some<04:50:39.920

Keywords: 910, house, all

Summary: The House Finance Committee held an informational briefing with the University of Hawaiʻi, led by new President Wendy Hensel and Vice President for Budget and Finance Calbert Young. Hensel outlined the university system’s scope, student demographics, research activity, and campus missions, emphasizing four strategic priorities: serving Native Hawaiians and Hawaiʻi, student success, workforce development, and economic diversification through innovation and research. She highlighted the system’s enrollment, research funding, and the roles of Mānoa, Hilo, West Oʻahu, the community colleges, and specialized institutions such as JABSOM and the Cancer Center. Young then reviewed the budget request, focusing largely on making prior one-time appropriations permanent and supporting recurring needs. Items included funding for Mānoa athletics, the Hawaiʻi Institute for Marine Biology, K-12 teacher education, Pamantasan Council support, Hilo programs, Windward’s mental health technician certificate, Maui’s practical nursing bridge program, and student support positions such as financial aid and admissions counselors. He also described workforce-related requests tied to nursing expansion at Mānoa and West Oʻahu, as well as facilities support at West Oʻahu. A major portion of the testimony addressed the university’s two Kakaʻako medical facilities. Young explained that declining tobacco settlement and cigarette tax revenues are no longer sufficient to cover debt service for JABSOM and the Cancer Center, so the governor’s budget includes general fund support to supplement those obligations. He also described a regents-approved request not included in the governor’s proposal: expanding the Hawaiʻi Promise financial aid program to the four-year campuses, estimated at about $11–12 million. No votes or formal committee actions were taken during the briefing.

Transcript Highlights:

• They need to bond; that's a piece of it. It does take time.
• to get rid of legislative authorization because then New Mexico Finance Authority staff can keep it
• So not everything gets legislative authorization.
• Then that list comes over to the Finance Authority, and the Finance Authority determines the final structure
• get 4.5% of severance tax bonds.

Transcript Highlights:

• And because of cost increases, the request for bonds is going up.
• our bond cap set by the Treasury is about over $350 million, so we are heavily oversubscribed on bonds
• . of cost increases the request for bonds of cost increases the request for bonds is<00:03:22.760>
• and and of course private activity bonds and and of course our<00:03:30.439> bond<00:03:30.799
• little bit of the private activity bonds little bit of the private activity bonds we'll<01:00:52.000

Keywords: 912, senate, all

Transcript Highlights:

• or bond obligations that they may have.
• Or bond obligations that they may have.
• You know, of bonds.
• We do know that it's going to have an impact on our bonds.
• So what authority was DOR authorized to build that, to put that website up? Senator Avila.

Keywords: 999, senate, all

Transcript Highlights:

• The bill appropriates the money to the Health Care Authority and what the Health Care Authority will
• Department of Agriculture has the authority. To give this food aid.
• There is a bond—there is a bond between veterans of all services and all the branches and so forth, and
• it is a bond hard to explain if you haven't been there.
• And I believe that there's a bond among the Senate as well—probably not the same as the bond between

Transcript Highlights:

• It's for $10.5 million in spending authority.
• B4 is a letter from the Department of Labor and Licensing, Division of Bail Bonds.
• It's for $36,000 in spending authority.
• It's just the authority to spend. Gotcha. You have pay plan.
• Number one is ASU with C-Bond Strategic Consulting.

Summary: The PEER Review Subcommittee met to consider a large agenda of appropriation, transfer, contract, and other review items. Members approved temporary appropriation requests in Sections B through F, including funding for prosecuting attorneys, education-related adjustments, school operating needs, labor licensing divisions, ARPA fund returns from Workforce Services, IIJA grants for state police CDL implementation and a forestry-related county grant, reserve fund transfers for teacher scholarships, school facilities, and economic development, and a Commerce reallocation tied to organizational realignment. Cash fund requests in Section G and budget classification transfers in Section H were also reviewed, along with pay plan requests in Section I, overtime requests in Section J, and multiple methods of finance in Section K. The committee also reviewed discretionary grants in Section L, including agriculture promotion board grants and DHS aging/adult behavioral health grants, plus RFQs, construction contracts, intergovernmental contracts, and out-of-state contracts in Sections M1 through M5. Several items drew questions from members. Workforce Services explained that $225,000 in TANF-related funds would be returned to the federal government because the two-year hold period for uncashed or moved checks had expired. Commerce officials described the $25 million site infrastructure grant program, saying it supports site development, due diligence, and infrastructure build-out at eligible sites of 30 acres or more, including rural communities, with grant agreements and matching requirements providing accountability. DHS and Education officials answered questions about the Care Solace mental health referral contract, saying it is a statewide concierge/referral service that helps schools connect students to Arkansas providers and follow up so students do not fall through the cracks; members asked for more information on provider selection, school-day scheduling, and Arkansas vendor participation. The committee held one item over: the DHS discretionary grant item for the RSVP retired senior volunteer program in L2, after concerns were raised about whether state general revenue was being used effectively and how much administrative overhead the providers retain. Members also questioned several contracts, including a DHS sole-source contract with EMSLink for document management software and a DHS bridge contract with Arkansas Foundation for Medical Care for Medicaid inspections of care reviews; in both cases, agency staff explained the need to avoid service disruption and said follow-up information would be provided. A Department of Corrections reentry center contract was discussed for its recidivism results, and ARDOT retirement-system investment contracts were briefly explained. The meeting ended after a lengthy discussion of the Medicaid Trust Fund balance, with DFA and DHS officials saying the state is expected to finish the fiscal year without exhausting the fund, that a restricted reserve of $100 million is available as a backstop, and that the larger question is what minimum balance should be maintained going forward.

Transcript Highlights:

• Let's move on to SB 1483 relating to highway revenue bonds, which restores the revenue bond authorization
• Let's move on to SB 1483 relating to highway revenue bonds, which restores the revenue bond authorization
• Let's move on to SB 1483 relating to highway revenue bonds, which restores the revenue bond authorization
• Let's move on to SB 1483 relating to highway revenue bonds, which restores the revenue bond authorization
• Moving on to Senate Bill 1483, relating to Highway Revenue Bonds.

Keywords: 912, senate, all

Summary: The joint committees heard testimony on several measures, beginning with SB 1480 on transportation and road usage charging. Supporters included the Department of Transportation, the Hawaii State Energy Office, county representatives, and the Tax Foundation, while an automotive industry witness opposed the bill, arguing it would be unfair to rural drivers and those with longer commutes. Committee discussion focused on equity, rural impacts, and whether the measure should be tied to future rail funding. The committees ultimately recommended SB 1480 pass with amendments, including broadening allowable uses of funds, clarifying language on infrastructure and safety, addressing motor scooters, and striking a proposed new subaccount; the recommendation was adopted by both committees, with one no vote in TCA. For SB 970 on taxation, the Tax Foundation said the employer transit tax credit would be more efficient as a direct subsidy program, and the Department of Taxation recommended several changes, including a sunset date of December 31, 2030, anti-double-benefit language, deletion of certain reporting requirements, and an effective date of December 31, 2025. The department estimated the bill would reduce revenues by about $11.6 million over the four-year period it would be in effect. The committees moved SB 970 forward with amendments to include bike share in the credit and add a defective date, leaving the department’s suggested changes for later consideration; the recommendation was adopted. The committees also advanced SB 1008 on parking and SB 1088 on electric vehicle charging infrastructure without amendments. DCAB strongly supported SB 1008, saying it would help counties enforce accessible parking design requirements, and noted a related bill without the EV portion. SB 1088 drew broad support from the Public Utilities Commission, State Energy Office, county and advocacy groups, and individuals; one question raised whether the bill should sunset, but the response was that Hawaii still lacks sufficient EV charging infrastructure and the measure expands eligibility for affordable housing. Both bills were recommended to pass unamended and the recommendations were adopted. The Transportation and Culture and Arts committee then heard SB 1011 on the Hawaii Leadership Awards Program, with testimony in strong support from individuals and the State Archivist, who suggested preserving award recipients’ archives, photos, oral histories, and clippings. The committee also heard SB 441 on the Hawaii Symphony Orchestra, with support from the Democratic Party of Hawaiʻi, the Hawaii Theatre Center, musicians, and others emphasizing cultural value, workforce stability, and statewide access to the arts. The transcript then moved to SB 1581 on the Hawaii Japan Pacific Peace Monument and SB 1577 relating to the State Foundation on the Arts; on SB 1577, the Attorney General warned that using the Works of Special Art Fund for operating purposes could jeopardize the tax-exempt status of related bonds and recommended deleting section five, while also pointing to the Performing Arts Special Fund as an alternative.

Transcript Highlights:

• These were unspent bond proceeds reported as restricted investments.
• All bond proceeds were invested in CDs when the bond was issued at BND, and this was for the construction
• Now, this is the one that the legislature authorized, I do believe, right?
• for bonds, all that gets used for debt service relief.
• The committee has only authorized to deal with state agency audits.

Summary: The committee met to receive a series of audit presentations, beginning with the statewide Annual Comprehensive Financial Report (ACFR) for fiscal year 2025. The State Auditor’s Office and OMB reported a clean, unmodified opinion for the state, with strong financial results including a $40.6 billion net position, $30.99 billion in assets, $1.81 billion in liabilities, and continued Legacy Fund growth. OMB also explained the new GASB 101 compensated-absences reporting change and discussed pension-liability fluctuations tied to discount-rate assumptions and investment performance. Members asked about how the state compares to others and about the effect of short-term commodity price swings, and OMB said the report reflects actual fiscal-year results rather than forecasts. The committee then heard the University System audit, which also received a clean opinion but included four findings: misreporting of Strategic Investment and Improvements Fund revenue, insufficient monitoring of service organizations at CTS, NDSU, and UND, improper bank reconciliations at Dakota College of Bottineau, Dickinson State, and Williston State, and investment/cash reconciliation problems at Bismarck State College related to bond proceeds. University officials agreed with the findings and said corrective actions were underway, including internal review of bank reconciliations. Members raised questions about NDSU’s use of certificates of deposit, and university staff explained that CDs are used to earn interest on funds being accumulated for future projects. Several other audits were presented, most with clean opinions and no findings, including the State Auditor’s Office, Workforce Safety and Insurance, Housing Finance Agency, Housing Incentive Fund, Job Service North Dakota, the Retirement and Investment Office, PERS, the Center for Distance Education, the Commission on Legal Counsel for Indigents, the Ethics Commission, and the Office of Administrative Hearings. Notable exceptions included a State Fair Association audit with an adverse opinion on the foundation component unit because its financial statements were not available for audit, and a Securities Department performance audit finding that performance-based pay increases and bonuses were issued without required evaluations. The committee also discussed the State Auditor’s future needs, including more staff capacity, data analytics, cybersecurity reviews, possible subpoena authority, independent legal counsel, and whether some audits—such as the Ethics Commission and State Fair—should be handled by independent third parties or under different statutory arrangements.

Transcript Highlights:

• Chairman, that we are doing the bond bill.
• Now, this bonding does not affect any of the other bonding within the state.
• bond rating for transportation bonds.
• So I want to start with the question: but for the bonding bill passing... ...or the bonding bill passing
• We need bonding and we need a cash infusion.

Keywords: 996, all

Summary: The committee first heard TRIP’s annual New Mexico transportation report from Carolyn Boniface Kelly, which described deteriorating roads and bridges, congestion, safety concerns, and a large transportation funding gap. The report said more than half of major roads statewide are in poor or mediocre condition, over 170 bridges are rated poor, congestion costs drivers significant time and money, and traffic crashes and road conditions impose billions in annual costs. Members broadly agreed the report underscored the need for more stable transportation funding, with several noting the state’s recurring underinvestment and the safety risks to motorists, pedestrians, and bicyclists. The committee then took up Senate Bill 2, a transportation bonding and revenue package. Senator Gonzales and Governor’s office and NMDOT representatives said the bill would authorize about $1.5 billion in additional bond debt for ready-to-go highway projects, while also increasing certain motor vehicle excise, registration, weight-distance, and EV-related fees to help support debt service and transportation funding. Supporters, including contractors, the Greater Albuquerque Chamber, the Department of Finance and Administration, and transportation officials, argued the bill would improve safety, economic development, project delivery, and funding stability, and help preserve federal dollars. Opponents, including the Rio Grande Foundation and some committee members, objected to the tax and fee increases, argued the state should use existing surpluses or other funds instead, and raised concerns about impacts on families, businesses, and local governments. Committee members questioned how projects would be selected, how the new fees were calculated, how EV surcharges would work, and whether local government distributions would be affected. NMDOT said the projects would be reported to the legislature annually, selected using crash data, asset management, and project readiness, but bond approval would remain with the State Transportation Commission. After debate, Representative Romero moved do pass on SB 2 as amended, Representative Hochman-Vigil seconded, and the committee approved the bill 7-2, with Representatives Brown and Dow voting no and several members expressing reservations despite supporting the need for transportation investment.

Transcript Highlights:

• But under this legislation, correct me if I'm wrong, you're creating a new authority.
• You're proposing to create a new authority for a DOER resource solicitation plan.
• And then what happens after that bond in the next three-year program? Sure.
• And then what happens after that bond in the next three-year program? Sure.
• So, assuming that we authorize this and that there's authorization for the DPU to allow for Mass Save

Keywords: 995, all

Summary: The committee heard testimony on H. 4144, the Governor’s Energy Affordability, Independence, and Innovation Act, with the administration arguing the bill would lower bills in the short and long term while expanding clean energy supply and innovation. The Governor and Secretary said the bill would reduce or restructure charges on customer bills, reform Mass Save, expand securitization as a financing tool, speed interconnection, create energy-ready zones, strengthen consumer protections in competitive supply, and allow broader state procurement of energy resources. They said the package could save consumers billions over time and would help address high energy costs, especially during extreme heat and winter spikes. Committee members pressed the administration on several provisions, especially securitization, asking whether the bill requires an apples-to-apples comparison of total costs over time, including interest and lost tax revenue, versus paying through rates. Administration witnesses said DPU review and public comment would be required and said they would work to clarify the language if needed. Members also questioned the bill’s solar and procurement provisions, including reduced net metering compensation for some large facilities, the scope of all-resource procurements, and whether hydro, solar, and nuclear would be included; the administration said those resources were contemplated and that procurement would still be reviewed by DPU. Other questions focused on the short-term relief from bill changes, the treatment of low- and moderate-income discounts, and whether the bill’s heat pump and Mass Save reforms would help customers who cannot afford upfront costs. Several witnesses and committee members discussed Mass Save reforms, including securitization of program costs, on-bill financing, pre-approval of rebates, and shifting program administration away from gas utilities. Administration witnesses said the changes were intended to reduce volatility, lower administrative costs, and better align costs with long-term savings. Questions also touched on geothermal permitting, municipal participation in offshore wind procurement, and the proposed repeal of the ballot requirement for nuclear power, which the administration defended as preserving future options under heavy review. No votes were taken during the hearing portion described. Supportive testimony came from labor, environmental, business, planning, and development groups. The AFL-CIO, NECA, and the Environmental League of Massachusetts backed the bill, emphasizing lower bills, job creation, labor standards, just transition protections, and cleaner energy. NAIOP, the Massachusetts Business Roundtable, and MAPC supported provisions on energy-ready zones, interconnection reform, microgrids, extreme-heat shutoff protections, and Mass Save improvements. A HEET representative praised the bill’s use of securitization, geothermal, and utility financing tools but urged guardrails and workforce protections. Overall, testimony was broadly favorable, with most witnesses calling for refinements rather than opposing the bill outright.

Transcript Highlights:

• SB 1186 clarified that the agency's jurisdiction over brine mining includes the authority to regulate
• The second thing that I want to highlight is oil and gas authorized pit registration system.
• Do you currently have that authority? I'm not sure what your, what your question is to that.
• By the way, because some of these wells didn't have bonds, some of the wells that have bonds are smaller
• I, I, if you don't have the The, the authority.