Video & Transcript Research : 'rate filing'

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MN

Minnesota 2025-2026 Regular Session

Utility executive compensation 3/17/26

Minnesota House Floor Meeting

Transcript Highlights:
  • And after Excel rate case with Excel.
  • Rate case after rate case, we see the same.
  • Is salary is being covered by the rate.
  • going back to the rate in years past. going back to the rate in years past.
  • And so I think this to keep rates down.
Keywords: 919, house, all
Summary: The committee heard House File 76, as amended by the adopted A1 amendment, and the chair moved the bill to be re-referred to the general register. The bill would limit the amount investor-owned utilities can charge ratepayers for executive compensation, capping recoverable pay for the top 10 executives at the governor’s salary. Representative Greenman argued the measure would protect customers from paying for lavish executive pay and said it would not affect what executives are paid, only what can be recovered from ratepayers. She cited recent Public Utilities Commission action and ongoing rate cases as evidence the issue is real and recurring. Supportive testimony came from a Minneapolis resident describing financial hardship and rising utility bills, a local worker who said customers have no choice of utility provider and should not fund monopoly executive pay, and advocates from the Energy and Policy Institute and Utility Reform Now, who said ratepayers should not subsidize excessive compensation and that the bill is a targeted reform. Xcel Energy and CenterPoint Energy opposed the bill’s premise by defending the current regulatory process. Their representatives said the PUC already reviews executive compensation in rate cases, generally allows only limited recovery, and has used that process for decades. Xcel also emphasized its affordability programs and said executives help secure savings and investments for customers. Members discussed whether the legislature should set a bright-line rule or leave the issue to the PUC. Representative Greenman said the bill is needed because the PUC process can take years and the legislature should establish a clear standard for all investor-owned utilities. Some members supported the bill as a response to an affordability crisis and the lack of consumer choice, while others said the legislature should focus on broader energy-cost issues and existing regulatory tools. The committee did not take a final vote on the bill in the portion of the meeting provided, but the amendment was adopted and the bill was moved for re-referral to the general register.
FL

Florida 2026 Regular Session

FL House Floor Session - 2025-04-23 (10:00AM Session)

Florida House Floor Meeting

Transcript Highlights:
  • However, the rate cannot be lower than 0.25% when the federal funds effective rate is less than 4% and
  • on trust account to the highest interest rate or dividend instead of at least the highest interest rate
  • funds rate.
  • It's a lending rate.
  • Show the late-filed amendment introduced.
Summary: The Senate opened with prayer, the Pledge of Allegiance, and several introductions and moments of silence, including tributes to those affected by the Florida State University shooting and recognition of Coach Amir Abdur-Rahim, John Thrasher, student advocacy groups, conservation organizations, and visiting school groups. Members also adopted Senate Resolution 1878 honoring Coach Abdur-Rahim. The chamber then moved into special order business and considered a series of bills, many of them with House companions substituted in and passed by wide margins or unanimously. Among the measures passed were bills updating child care and early learning provider regulation, imposing costs on false swatting reports, extending protections against extraordinary hospital collection actions, expanding hazardous walking conditions for schoolchildren, creating young adult housing support for foster and homeless students, clarifying school choice disclosure requirements under the Family Empowerment Scholarship Program, adjusting interest rules for trust accounts supporting legal aid, revising transportation and traffic enforcement provisions, expanding public records exemptions for certain judicial and health care investigators and appellate clerks, changing municipal water and sewer utility rates in Miami-Dade, strengthening motor vehicle offenses involving impersonation and obscured plates, increasing trespass penalties at certain law-enforcement-controlled sites and large ticketed events, requiring refunds of patient overpayments, authorizing certain stem cell therapies, allowing relatives and direct support professionals to administer insulin in group homes, addressing rideshare impersonation and transit funding rules, and updating the Uniform Commercial Code for digital assets and emerging technologies. Several bills drew notable debate. The trust fund interest bill prompted extended discussion over legal aid funding, bank participation, and whether the measure would reduce support for legal services; it ultimately passed 28-10. The transportation bill was heavily amended, including removal of speed-limit increases and changes to school bus camera enforcement and micromobility rules, and passed 37-0. The Miami-Dade water and sewer rate bill sparked debate over fairness, fiscal impact, and accusations of racism, but passed 36-2. Public records bills protecting agency investigators and JQC employees also drew questions about accountability and transparency before passing. Most other measures passed with little or no opposition, and a few bills were temporarily postponed or set aside.
MN

Minnesota 2025 1st Special Session

House Energy Finance and Policy Committee 1/21/25

Energy Finance and Policy

Transcript Highlights:
  • Um, we're going to move House File 7 before the committee.
  • <00:04:30.919> by request increase monthly rates by request increase monthly rates by 99.5%
  • reliable affordable and Safe House file reliable affordable and Safe House file 9<00:14:04.160><
  • Thank you for the opportunity to provide testimony today on House File 9.
  • At any rate, the early 2050s.
Keywords: 1183, house
Summary: The House Energy Finance and Policy Committee met to approve the January 16 minutes and then heard House File 9, which was referred to the Committee on Taxes after the committee’s action. The bill was presented as an energy policy measure aimed at reliability and affordability. It would expand hydroelectric power’s eligibility under the state’s energy standard, delay certain carbon-free compliance requirements for utilities that do not meet a retail rate benchmark, prohibit local permits to demolish fossil fuel plants under certain conditions, state support for carbon capture and sequestration without creating a state funding obligation, end the nuclear moratorium, and expand the sales tax exemption for residential natural gas and electricity used as primary heat year-round starting after June 30, 2026. The committee also took up and adopted the A1 author’s amendment, which clarified that the carbon capture language does not obligate state spending. The bill’s sponsor argued that Minnesota’s current energy policy is driving up costs and threatening reliability, especially during extreme cold, and said the bill would create “off-ramps” from existing mandates to protect ratepayers and businesses. He cited reliability concerns, MISO/NERC risk assessments, rising utility rates, and the need for an all-of-the-above energy approach, including hydro and nuclear. He also said the bill would reduce taxes by broadening the sales tax exemption for residential heating. Testimony was mixed but generally focused on reliability, affordability, and the role of nuclear power. The Minnesota Rural Electric Association and the Minnesota Chamber of Commerce supported the bill’s emphasis on keeping power reliable and affordable, with both saying Minnesota needs dispatchable, carbon-free resources and noting concerns about high electricity costs and future demand from data centers and AI. The Prairie Island Indian Community opposed lifting the nuclear moratorium without a viable waste solution, describing the long-term burden of spent nuclear fuel on its community and asking for more consultation. Xcel Energy said its nuclear plants have operated safely and reliably for decades, support low-cost and low-carbon power, and could be part of the state’s energy transition, but it emphasized the need for tribal participation and said decisions about retiring fossil plants should remain within the existing Public Utilities Commission resource planning process.
MN

Minnesota 2025 1st Special Session

House DFL Press Conference 3/27/25

Transcript Highlights:
  • file file 2215<00:02:27.560> one<00:02:27.680> of<00:02:27.840> our<00:02:28.160
  • <00:03:02.400> in in 2024 auto insurance rates in in 2024 auto insurance rates in Minnesota
  • used by insurance companies to set rates used by insurance companies to set rates determine<00:04
  • disproportionately these higher rates disproportionately these higher rates are<00:18:46.760>
  • pay it off quickly which means her rate pay it off quickly which means her rate of<00:19:38.720>
Keywords: 1183, house
CA

California 2025-2026 Regular Session

Assembly Labor and Employment Committee Apr 29th, 2026

Labor and Employment

Transcript Highlights:
  • The eight steps are: you file your claim.
  • So you can file a motion for receivership.
  • Let us file cases against abusive employers.
  • JU has the highest vacancy rate—I'm sorry, that's the lowest vacancy rate—of all of our programs and
  • This represents a 37% hit rate.
Keywords: 988, house, all
Summary: The Assembly Committee on Labor and Employment held a review hearing on SB 588, the 2015 wage theft enforcement law, focusing on whether its tools are working and what additional authority or resources may be needed. Committee members emphasized that wage theft is a major and under-enforced form of theft in California, citing large backlogs in wage claims and long delays that often leave workers unpaid even after winning judgments. Panelists from UCLA, worker advocacy organizations, and legal aid described SB 588’s enforcement tools, including liens, levies, stop orders, successor and individual liability, and priority in bankruptcy. They said the law has improved collections and settlement leverage, especially in industries like janitorial services and property services, where client companies and contractors can be held jointly responsible. Several examples were discussed, including cases involving Tesla, Cheesecake Factory, Optum, and Winko Foods, where the law helped secure payments or settlements for workers. At the same time, advocates argued that the prejudgment lien provisions are too limited, that care home cases remain especially difficult, and that more staffing and broader authority would improve recovery. Workers testified about unpaid wages, long delays, retaliation fears, and the difficulty of collecting even after obtaining judgments. A home care worker described waiting years for a hearing and still not recovering money because assets had been moved or hidden. A residential care worker said caregivers are often underpaid, denied breaks, and left with little practical recourse. The Labor Commissioner reported that the agency has recovered more wages since SB 588, including through mail levies, liens, and stop orders, but said many cases involve judgment-proof employers and require intensive investigation. Public comment from a SEIU representative supported SB 588 and urged continued focus on bad actors and targeted enforcement. No vote or formal action was taken at the hearing.
KY

Kentucky 2026 Regular Session

Interim Joint Committee on Natural Resources & Energy.(7-2-26)

Natural Resources & Energy

Transcript Highlights:
  • rate case or having to have five rate rate case or having to have five rate cases,<00:36:14.320>
  • We instituted the alternative rate filing process for smaller utilities, and we're undergoing a review
  • We instituted the, um, alternative<00:40:26.080> rate<00:40:26.280> filing<00:40:26.560
  • > process<00:40:27.080> for alternative rate filing process for alternative rate filing
  • It's the filed tariff doctrine, and if someone makes a complaint that someone's charging a rate that's
Bills: SB8
MN
Transcript Highlights:
  • All right, our next item up for business is House File 770.
  • Madam Chair, yes, I would like to move House File 770. Thank you.
  • > to that lower interest rate I was able to that lower interest rate I was able to lock<00:05:
  • Okay, not seeing any discussion on House File 770 as amended.
  • his motion that house file his motion that house file 77770<00:08:27.000> be<00:08:27.199
Keywords: 1183, house
MN

Minnesota 2025 1st Special Session

House Floor Session 5/5/25 - Part 2

Minnesota House Floor Meeting

Transcript Highlights:
  • House File 2442. Calendar for the day.
  • Senate file number 2370 as amended. Senate file number 2370 as amended.
  • it comes to getting the rates increased. it comes to getting the rates increased.
  • Eviction filings are soaring.
  • Eviction filings are uh soaring. color. Eviction filings are uh soaring.
Keywords: 1183, house
MN

Minnesota 2025-2026 Regular Session

House Workforce, Labor, and Economic Development Finance and Policy Committee 3/6/25

Workforce, Labor, and Economic Development Finance and Policy

Transcript Highlights:
  • file file 500<00:17:56.039> uh<00:17:56.280> unfortunately<00:17:57.280> SEIU<00
  • We're going to take House File 718.
  • We're going to take House File 718.
  • House File 718, um, two-year bill.
  • House File 718, um, two-year bill.
MN

Minnesota 2025-2026 Regular Session

Committee on Energy, Utilities, Environment and Climate - 02/25/26

Energy, Utilities, Environment, and Climate

Transcript Highlights:
  • rates for that reason, actually. Mr. rates for that reason, actually. Mr.
  • :47.440> rate<00:21:47.679> case within 60 days of filing a rate case within 60 days of
  • filing a rate case without<00:21:48.320> analysis<00:21:48.799> by<00:21:49.039> the
  • Minnesota Power just filed theirs, and Otter Tail will be filed in the next couple of weeks.
  • We can't control our rates.
Keywords: 1187, senate, all
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Health Care Financing Jun 21st, 2026 at 11:00 am

Joint Committee on Health Care Financing

Transcript Highlights:
  • , and its Senate companion, Senate Bill 843, filed by Senator Cynthia Cream.
  • O'Day, and Senate Bill 899 filed by Senator Moore.
  • I want to thank Chair Friedman for filing this legislation.
  • those rates preserve their position and keep out new competitors.
  • House Bill 1356, also filed by Rep.
Keywords: 995, all
Summary: The Joint Committee on Health Care Financing held a public hearing on a broad set of health care bills focused on cost, market oversight, pharmaceutical access, transparency, hospital closures, and pharmacy access. Chairs John Lawn and Cindy Friedman opened by emphasizing recent health care reforms and the need for further action on the drug supply chain, PBMs, private equity, and affordability. The committee heard testimony on several measures, including a Betsy Lehman Center bill to make technical changes and create a permanent trust account for federal and private funding, and bills on hospital profits and fairness, hospital closures and health planning, pharmacy deserts, and health care market oversight and pharmaceutical access. No votes were taken during the hearing. On the hospital profits bill, physicians and labor advocates strongly supported capping hospital CEO compensation at 50 times the lowest-paid worker, requiring greater financial transparency, and directing penalties from high-margin public hospitals into a Medicaid reimbursement fund. Testifiers argued that executive pay is excessive while frontline staff and safety-net services are under strain. Committee members raised concerns about unintended consequences, including whether hospitals might shift workers to contract status or lose executive talent, and whether the bill would actually direct money to the safety net. Supporters responded that the measure is one piece of a larger effort and that the bill’s Medicaid reimbursement provisions would help underserved hospitals. Testimony on market oversight and pharmaceutical access centered on rising health care and drug costs, PBM practices, and the proposal to give the Health Policy Commission authority to set upper payment limits for certain drugs. Consumer advocates, disability advocates, an independent pharmacist, the Attorney General’s office, and others supported stronger oversight, citing premium increases, affordability problems, and the impact of high drug prices on patients and community pharmacies. Pharma and some industry witnesses opposed parts of the bill, warning that upper payment limits could disrupt access, create legal issues, and fail to address the broader supply chain. The committee also heard support for stronger hospital closure notice and public hearing requirements, and for a pharmacy deserts bill aimed at identifying and addressing closures like the one in Roxbury that affected thousands of patients.
MN

Minnesota 2025-2026 Regular Session

Committee on Health and Human Services - Part 1 - 03/17/26

Health and Human Services

Transcript Highlights:
  • . rates. rates.
  • , not the fraud rate, the error rate, so the overpayment underpayment rate.
  • ,<00:19:39.520> the error rate, not the fraud rate, the error rate, not the fraud rate, the
  • error rate, so the overpayment error rate, so the overpayment underpayment<00:19:41.800> rate
  • Um so, Senate file file file 2975<01:57:02.520> as<01:57:02.680> amended<01:57:03.120><
Keywords: 1187, senate, all
MN

Minnesota 2025 1st Special Session

House Press Conference 3/19/25

Transcript Highlights:
  • <00:06:45.440> or information, promises of high ratings or information, promises of high ratings
  • I surround file a claim and walk away.
  • And so there's if my rating was too low.
  • <00:11:48.320> No rating. That is unequivocally false. No rating.
  • And I think that's the end of rating.
Keywords: 1183, house
CA
Transcript Highlights:
  • Those rates are lower than we'd like, of course.
  • Success rates in the other collaborative courts are high. And the recidivism rates are excellent.
  • San Bernardino we have 49,000 banker boxes full of files 7 1.7 million case files that we are.
  • electronic filings.
  • Our panel is paid at the top rate, the very top rate, $130 an hour. The low rate is $110.
Keywords: 988, house, all
FL

Florida 2026 Regular Session

Senate in Session Apr 23rd, 2025

Florida Senate Floor Meeting

Transcript Highlights:
  • However, the rate cannot be lower than 0.25% when the federal funds effective rate is less than 4% and
  • on trust account to the highest interest rate or dividend instead of at least the highest interest rate
  • funds rate.
  • It's a lending rate. ...around the Wall Street Journal prime rate, which is very different.
  • Show the late-filed amendment introduced.
Summary: The Senate opened with prayer, the Pledge of Allegiance, and several introductions recognizing guests, students, advocates, and a resolution honoring the late USF men’s basketball coach Amir Abdur-Rahim. Senators also observed moments of silence for victims of recent campus violence and for former FSU President John Thrasher. The chamber then moved to special order bills, with several members explaining measures and, in some cases, substituting House companions before final passage. Among the bills passed were measures updating child care and early learning provider regulation; strengthening penalties and cost recovery for false reporting and swatting; extending protections against extraordinary medical debt collection; expanding hazardous walking condition criteria for schoolchildren; creating young adult housing support for foster and homeless students; and requiring private schools participating in the Family Empowerment Scholarship Program to disclose which accommodations they will provide. The Senate also passed a bill adjusting interest rules for trust accounts funding legal aid, after extended debate over the impact on legal aid funding and banking practices, and a transportation package that was heavily amended to address issues such as school bus camera hearings, beach vehicle use for equipment removal, flooded-street wake restrictions, expectant mother parking permits, micromobility regulation, and traffic signal modernization. The chamber also approved public-records exemptions for Agency for Health Care Administration investigators, Judicial Qualifications Commission employees, and appellate court clerks; a municipal water and sewer rate bill affecting Miami-Dade residents near a plant; motor vehicle offenses involving impersonating law enforcement and obscured license plates; trespass penalties at law-enforcement-controlled locations and large ticketed venues; refund requirements for patient overpayments; stem cell therapy authorization with source and consent limits; and insulin administration authority for direct support professionals and relatives in group homes. Several bills were temporarily postponed, including cardiac emergencies, chemicals and consumer products, and motor vehicle manufacturer/franchise dealer legislation. Most measures passed with strong bipartisan support, though the trust fund interest bill drew notable opposition and passed 28-10, and the Family Empowerment Scholarship bill passed 37-1.
CA

California 2025-2026 Regular Session

Senate Insurance Committee Apr 22nd, 2026

Insurance

Transcript Highlights:
  • We will take those first: file item number 1, SB 1209, Senator Allen, followed by file item number 3,
  • We have a problem right now in the rate filing process, which my colleague alluded to, with the most
  • It is a term that was essentially made up in the rate filing process here in California that denotes
  • So that has created a huge amount of delay in the rate filing process for decades.
  • We'll go back to the file. We will take file item number 7, SB 982, Senator Wiener.
Summary: The committee heard testimony on several insurance-related bills. SB 1209 by Senator Allen, sponsored by Insurance Commissioner Ricardo Lara, would give the Department of Insurance stronger enforcement tools when insurers fail to implement corrective actions identified in market conduct or financial examinations. Supporters said the bill would close gaps that allow repeated violations, improve solvency oversight, and protect policyholders; opponents argued CDI already has broad authority and raised concerns about duplicative penalties, due process, and the bill’s scope. Members discussed amendments to limit the bill to legal violations rather than recommendations, apply penalties per exam rather than per policy, and clarify accounting language. The committee voted to send SB 1209 to Appropriations, with the bill placed on call after a roll vote that included one no vote from Senator Niello. The committee also considered SB 1301, which would require more detailed non-renewal notices for residential property insurance, give policyholders time and information to address correctable issues, and restrict certain non-renewal reasons such as claims below deductible or not covered by the policy. Support came from homeowners, fire survivors, and consumer groups who said notices are often vague and leave families unable to keep coverage; insurers opposed the bill, warning that California’s notice period is already among the longest in the country and that the bill could worsen availability and add burdensome reporting requirements. The author said he was willing to reduce the notice period from 180 days to about three months and work on a mitigation-based process. The committee passed the bill to Appropriations, with Senator Niello voting no and the item placed on call. SB 1026 by Senator Gonzalez would tighten regulation of bail fugitive recovery agents by allowing the Department of Insurance to suspend or revoke licenses without a criminal conviction, adding conduct restrictions, and requiring continuous liability coverage and proper appointment notices. Supporters, including Commissioner Lara, said the bill addresses serious misconduct and loopholes that have led to unsafe conduct and weak oversight. Bail industry representatives and crime victims’ advocates opposed the measure, arguing that the required insurance coverage is unavailable or unlawful as written, that the bill would be hard to comply with, and that it could reduce the number of recovery agents and delay justice. The committee moved SB 1026 to Appropriations, with Senator Niello voting no and the bill placed on call. The committee then heard SB 982 by Senator Wiener, the Affordable Insurance and Recovery Act, which would authorize the Attorney General to sue fossil fuel companies to recover costs tied to climate disasters and insurance losses, with supporters framing it as a way to shift some climate-related costs away from policyholders and taxpayers. The author said amendments would remove retroactivity and delay liability until 2032, while supporters from flood and wildfire survivor groups and climate organizations said the bill would help fund recovery and stabilize insurance costs. Opponents from industry and building trades argued the bill was legally vulnerable, would create a de facto tax or liability scheme, and could harm jobs, energy production, and affordability. Testimony on SB 982 was extensive, but the transcript ends before any committee vote or final action on that bill.
MN

Minnesota 2025-2026 Regular Session

Committee on Taxes - 03/19/25

Taxes

Transcript Highlights:
  • This will just set it at a fixed rate.
  • So with that, let's look at lowering the statewide sales tax rate.
  • It's related to the sales tax rate, and because we're changing the sales tax rate, but we're not changing
  • <00:36:38.520> and it's related to the sales tax rate and it's related to the sales tax rate
  • Article 4 is repealing the tax filing modernization account. This was for a direct file.
Keywords: 1187, senate, all
AZ

Arizona 2026 Regular Session

01/15/2026 - Senate Floor Session

Arizona Senate Floor Meeting

Transcript Highlights:
  • , and we still don't have the rules for them to file their taxes.
  • There's $2.5 billion a year we lose from our flat tax rate of 2.5%.
  • You know, I filed my first tax return in 1973.
  • In all those years, I've never filed an amended tax return.
  • In all those years, I've never filed an amended tax return.
Keywords: 1182, all
Summary: The Senate convened with prayer, the Pledge of Allegiance, attendance, and routine journal and guest items, then moved into the Committee of the Whole to consider bills on the calendar. The main substantive item was SB 1106, a tax conformity bill tied to federal tax changes. Senators debated it extensively, with supporters arguing it would provide tax relief, certainty for taxpayers filing returns, and pro-growth benefits for workers and businesses, while opponents said it would reduce state revenue, favor wealthier taxpayers and corporations, and should be handled in broader budget negotiations. Several senators also objected to provisions they said were added late, including child care, senior deductions, and education-related tax credit language. The bill was ultimately passed in open session by a vote of 17 ayes, 12 nays, and 1 not voting, and was transmitted to the governor. After SB 1106, the chamber adopted the Committee of the Whole report and then heard a proclamation in support of law enforcement, read by Senator Bolick and signed by Senate leadership. The proclamation cited officer safety, assaults, fatalities, and mental health concerns, and called for continued support, equipment, training, and resources for law enforcement. Senators spoke in favor of honoring police and “backing the blue.” The Senate also handled routine floor business, including a message from the House, transmission of SB 1106 to the governor, and a long list of first-reading bill introductions and committee references covering topics such as public safety, health and human services, education, finance, elections, immigration, border issues, and appropriations. The meeting concluded with committee announcements and adjournment until Tuesday, January 20, 2026.
MN

Minnesota 2025-2026 Regular Session

Committee on Labor - 04/07/26

Labor

Transcript Highlights:
  • private sector union unionization rates private sector union unionization rates hover<00:07:51.720
  • <00:08:36.520> date, of the filing date, of the filing date, management<00:08:38.120> at
  • Uh we report the rate at which different Uh we report the rate at which different types<00:12:58.640>
  • graph, we see these reported rates graph, we see these reported rates conditional<00:13:06.280><
  • funding and ratings. funding and ratings.
Keywords: 1187, senate, all
TX
Transcript Highlights:
  • We have performance measures based on clearance rate in the sense of the number of case filings that
  • And the target clearance rate number is 100% in the sense of whatever is filed, we need to be getting
  • It's essentially $5 that's assessed in any civil case filed, a court where filing fees are paid.
  • It's essentially $5 that's assessed in any civil case filed. A court where filing fees are paid.
  • What's your run rate? What do you clear?
Bills: SB 1
Summary: The Senate Finance Committee convened for its first hearing of the 89th regular session, confirmed a quorum, adopted committee rules by a 15-0 vote, and began review of Senate Bill 1, the state budget for fiscal years 2026-27. Chair Huffman outlined the committee’s organization, introduced staff, and described the budget as conservative and focused on one-time investments. She highlighted major SB 1 priorities including property tax relief, full funding for public education formulas, teacher pay, school safety, border security, Medicaid growth, dementia research, energy and water infrastructure, transportation, wildfire suppression, and other capital and public safety needs. Comptroller Glenn Hager presented the biennial revenue estimate, saying the state has $194.6 billion available for general-purpose spending in 2026-27, with a projected $23.8 billion ending balance from the current biennium. He cautioned that revenue growth is returning to more normal levels and that lawmakers should avoid committing short-term surpluses to ongoing expenses. He also explained that the Economic Stabilization Fund is projected to hit its constitutional cap, meaning an estimated $5.6 billion in severance tax and related revenue would remain in general revenue in the upcoming biennium rather than flow into the fund. Senators discussed whether to raise or rename the fund and the implications of keeping more severance-tax revenue in general revenue. The Legislative Budget Board then gave an overview of SB 1 and the budget’s major funding changes. LBB staff explained that the bill is essentially flat at $332.9 billion in all funds, but includes large method-of-finance shifts and major property tax relief. They detailed how prior property tax relief enacted in the 88th Legislature grew from an estimated $18 billion to $22.7 billion because of higher property values and hold-harmless provisions, and said SB 1 continues that relief with a total of $51 billion in ongoing and new property tax support. Members asked extensive questions about the automatic growth in school tax compression, the constitutional homestead exemption, COVID-era federal funding, Medicaid assumptions, and the sunset of the non-homestead circuit breaker. No additional votes or final budget actions were taken beyond adoption of the committee rules.