Transcript Highlights:

• public trust in stewarding New York State's park and historic site system is one of our greatest assets
• I mean, you know, 20 years ago Parks wasn't getting capital money, and our system really deteriorated
• And, you know, this year in the budget we have $200 million in capital plus another $140 million for
• So I'd add that to the capital list. and then...
• About preventing the spread of invasive species, so I'd add that to the capital list.

Summary: The joint meeting of the Senate Finance Committee and the Committee on Cultural Affairs, Tourism, Parks, and Recreation considered Governor Hochul’s nomination of Kathleen “Kathy” Moser to serve as Commissioner of the Office of Parks, Recreation, and Historic Preservation. Moser described her background in conservation and public lands, and said her priorities would include improving access and belonging for all New Yorkers, maintaining health and safety, modernizing infrastructure, addressing climate change and sustainability, and strengthening partnerships with local governments, community groups, and the Legislature. Members questioned her on a range of park issues, including visitor fees, safety at swimming areas such as Lake Welch, security measures at parks, access for urban residents through nature buses and school transportation grants, maintenance and capital needs, event permitting, workforce recruitment and retention, and coordination around the 250th anniversary of the American Revolution. Moser said the department has targeted capital and safety investments at popular parks, is installing fencing, lighting, cameras, and license plate readers at entrances at selected sites, and is planning extensive 250th commemoration programming and historic-site renovations. She also discussed efforts to expand community stewardship, including partner groups, culturally specific amenities like cricket fields, and outreach through traveling exhibits and social media. Senators raised concerns and suggestions about renewable energy siting, cell service in rural areas, invasive species prevention, and local infrastructure needs. After questioning concluded, the committees voted to advance the nomination, and the motion was reported to the Senate floor.

Transcript Highlights:

• Third reading of the bill: An act authorizing the Commissioner of Capital Asset Management and Maintenance
• An act authorizing the Commissioner of Capital Asset Management and Maintenance to transfer certain parcels
• The bill also authorizes $120 million in capital spending to facilitate...
• is the next phase of a strategy that is already producing measurable results: companies growing, capital
• If we want to continue bringing in the much-needed capital and businesses to sustain our tax base, we

Transcript Highlights:

• </c> projects, these so-called asset projects, these so-called asset condition<01:02:52.160><c> projects
• </c><01:10:14.480><c> uh</c> about a transmission an asset uh about a transmission an asset uh condition
• </c> and a justification of their asset and a justification of their asset conditioning<01:15:30.719>
• </c> to, you know, how are these asset to, you know, how are these asset conditioning<01:18:42.880><c
• </c> calculation to any asset owner operator. calculation to any asset owner operator.

Committee: House Science, Technology and Energy

Transcript Highlights:

• standards allow for the exclusion of up to two bona fide discount points that allows the consumers to capitalize
• 00:02:28.400><c> to</c> points that allows the consumers to points that allows the consumers to capitalize
• <c> a</c><00:02:29.680><c> lower</c><00:02:30.000><c> monthly</c><00:02:30.319><c> mortgage</c> capitalize
• on a lower monthly mortgage capitalize on a lower monthly mortgage payment<00:02:31.280><c> by</c><00
• 08:36.560><c> liquid</c> and older individuals who own liquid and older individuals who own liquid assets

Committee: Senate Banking & Insurance

Transcript Highlights:

• solar facilities by roughly 40% on an early review, and it moves the state away from the way these assets
• Utility-scale solar facilities are income-producing assets, and they're typically valued based on actual
• But capital gains would not count as income. Does not count as income? What is that?
• However, as discussed, there are many seniors with higher incomes from capital...
• However, as discussed, there are many seniors with higher incomes from capital gains, dividends, and

Summary: The committee heard and advanced several tax and revenue measures, beginning with SB 1329 on solar property tax assessment. The author and solar industry witnesses argued the bill would create a uniform statewide method, provide certainty for developers, and exclude tax credits and other intangibles from valuation; county assessors and several counties opposed it, saying it would reduce assessed value and depart from market-based appraisal. The bill was moved to Appropriations on a 2-0 vote and placed on call. The committee also heard SB 1406 to close the “Montana tax loophole” used to avoid California vehicle taxes, with support from the California Teachers Association and no registered opposition; it passed 2-0 and was placed on call. SB 984, conforming California law to the federal tipped-income deduction, drew support from the restaurant industry, Howard Jarvis Taxpayers Association, and enrolled agents, and passed 3-0 to Appropriations, on call. Later, the committee considered wildfire- and energy-related tax credits. SB 1084 would create a fire-safe home tax credit for home hardening and defensible space improvements; supporters said it would reduce wildfire losses and insurance costs, and it passed 3-0 on call. SB 1118 would provide credits for backup generators and solar battery systems in high fire-threat areas; the author framed it as a resilience measure for households and small businesses, but members raised concerns about cost, diesel use, and whether the credit would reach lower-income households. The bill was moved 1-0 and placed on call, with the chair and other members noting unresolved budget and policy concerns. SB 1424, expanding a partial sales tax exemption to zero-emission vehicle refueling equipment, received support from hydrogen and electric transportation groups and passed 4-0 on call. The committee also advanced SB 1249, a senior tax deduction for taxpayers ages 86 to 90, with support from LeadingAge California and senior advocates; members noted it was narrowly targeted and passed 4-0 on call. SB 1113, conforming California tax law to the federal tonnage tax regime for U.S.-flag international shipping companies, drew support from maritime industry groups and opposition from ILWU over the fiscal impact; it passed 4-0 on call. SB 1137, the Medical Expense Deduction Act, would allow a targeted deduction for medical expenses for lower-income taxpayers; supporters said it would help families facing high out-of-pocket costs, and it passed 4-0 on call. Finally, SB 1415 would extend a partial welfare property tax exemption to mixed-income housing that includes moderate-income units; supporters said it would help finance “missing middle” housing, while assessors and housing stakeholders requested amendments and guardrails. The bill was also moved forward on a committee vote and placed on call.

Transcript Highlights:

• So today we have with us Heidi Webb, the port director of PortMiami, known as the cruise capital of the
• We are attracting capital from the private sector.
• Questions, but I wanted you to expand a little bit more on your energy assets there.
• So just kind of maybe talk about your energy assets there at Tampa.
• You must have data support, but then it's more of the assets required by the private sector.

Summary: The Economic Infrastructure Subcommittee held a panel discussion focused on Florida seaports and their role in the state economy. Florida Ports Council CEO Mike Rubin opened with statewide figures from a 2023 economic impact study, saying Florida seaports support about 1.2 million jobs, generate roughly $195 billion in economic value, and produce about $7.4 billion in state and local taxes. He emphasized that ports are critical for fuel, food, medical supplies, construction materials, and hurricane response, and argued that continued state and federal investment is needed to expand capacity and move projects forward faster. PortMiami Director Heidi Webb described Miami’s cruise and cargo operations, noting the port generated about $61 billion in economic impact and 334,000 jobs. She highlighted record cruise activity, major private investment by cruise lines, the launch of shore power at cruise terminals to reduce emissions, and ongoing capital projects including a new Royal Caribbean terminal, berth reconstruction, and an inland port concept to reduce congestion. Members asked about security, hurricane procedures, AI use, infrastructure planning, collaboration among ports, and smuggling prevention; Webb said the port uses layered security with local law enforcement, CBP, Coast Guard, and radiation monitors, and that hurricane planning is coordinated in advance with county and federal partners. Port Tampa Bay’s Raul Alfonso said Tampa is the state’s largest port by land area and a major energy hub for Central Florida, with an estimated $34.5 billion economic impact. He discussed diversification into containers, food distribution, fertilizer, and construction materials, along with major needs such as a deep-dredge project and more warehouse space. He also addressed resilience and fuel distribution during hurricanes, and said the port is preparing for future LNG and alternative-fuel demand through partnerships, land planning, and education. Jaxport’s Nick Primrose then described Jacksonville’s container, auto, breakbulk, aggregate, military, and LNG businesses, including 1.3 million TEUs last year, major state-funded crane purchases, harbor deepening, auto-processing expansion, and its role as a strategic military port. He said Jaxport is a leader in marine LNG and has trained all employees on human trafficking awareness. The discussion ended with Port Panama City being introduced as a smaller but important Panhandle economic engine, with Rubin noting its cargo, manufacturing, and infrastructure projects and its continued need for state and federal support.

Transcript Highlights:

• </c><00:02:48.080><c> service</c> housing through a capitalized service housing through a capitalized
• It's a one-time upfront infusion of capital that sits within the building's capital stack and is a current
• This is capitalized service reserves.
• 36.320><c> capital</c><00:05:36.880><c> stack</c><00:05:37.520><c> and</c> within the building's capital
• </c> via its capital sources to provide that. via its capital sources to provide that.

Bills: HF2740 , HF2901 , HF4443 , HF3943

Committee: House Housing Finance and Policy

Keywords: affordable housing, housing finance, Minnesota Housing Finance Agency, MHFA, low-income housing tax credit, LIHTC, Section 42, compliance period, housing stability, rental housing, affordable rental housing, homelessness, housing insecurity, housing supply, preservation, recapitalization, distressed properties, regulatory relief, local affordable housing aid, Interagency Council to End Homelessness

Transcript Highlights:

• Fixed asset list was established, however, it did not include all additions and deletions and control
• And then we have actually gone through the fixed asset list for '24 and '25, and we've actually added
• and deleted those that need to be added and deleted on the fixed asset list.
• Subsequent to the issuance of the prior report, the district closed the maintenance and repair capital
• A letter detailing the percentage allocation of expenditures for capital outlay and operational costs

Committee: All LEGISLATIVE JOINT AUDITING-COUNTIES AND MUNICIPALITIES

Summary: The committee approved the February 12 minutes and then received updates on delinquent municipal water and sewer reports, noting substantial progress in bringing cities back into compliance. Several items were deferred at the request of local officials, including Fargo’s municipal accounting code report, Jericho’s misuse of street funds matter, Biggers, Holly Grove, Gilmore, and several private water and sewer reports lacking proper responses. The committee also filed a number of reports with no questions or with resolved findings. A lengthy portion of the meeting focused on repeat audit findings and management responses. The City of Strong’s mayor described corrective steps on undeposited funds, improper use of solid waste funds, unsupported spending, IRS payroll tax issues, accounting controls, restricted fund transfers, and budget overruns; the committee commended the city’s efforts and filed the report. Calhoun County’s report, involving improper county spending for an appreciation banquet and altered receipts in the collector’s office, was also filed after discussion about educating local officials on constitutional spending limits. Other reports filed included Salem, Briarcliffe, Compton Water Association, and Montgomery County Regional Public Water Authority, while several private water reports were deferred or referred to prosecutors and the Attorney General. The committee reviewed a major regional solid waste management districts report, with significant findings for Pulaski County and Faulkner County involving unapproved payroll items, missing documentation, vehicle and cell phone use, lack of competitive bids, and weak internal controls; Benton County had fewer issues, and several districts had no findings. On motion, the Pulaski County report was deferred so district representatives could answer questions. The committee also heard from Nevada County, where unauthorized withdrawals and interlocal landfill agreement problems were discussed; the county judge said the issues were being corrected, and the report was filed. Later, the committee heard from the City of Grubbs about long-standing IRS debt and from Cross County Rural Water System about overdue audit posting and water quality problems; both witnesses described corrective efforts and ongoing funding or infrastructure projects, and the committee filed the reports after extensive discussion.

Transcript Highlights:

• warrant that was cashed by someone other than the intended payee, and had several issues regarding capital
• assets.
• Additionally, we cannot determine the disposition of two capital assets after the program's closure.
• Additionally, we cannot determine disposition of two capital assets after the program's closure. determined
• disposition of two capital assets after the program's closure.

Committee: All LEGISLATIVE JOINT AUDITING

Summary: The committee first adopted prior minutes and then heard several standing committee audit reports. The executive committee report noted audit and special reports scheduled for the month, one outstanding committee-requested report, and a request to gather information on a possible special report for February. The city/county/local report covered delinquent private water and sewer audits, including reinstatement of turn-back funds for 17 entities, 59 of 64 delinquent 2023 entities filing reports, and action on the town of Daisy requiring repayment of misused street funds. The education report filed three higher education audit reports and deferred one Northwest Arkansas Community College report. The state agencies report filed four reports and deferred audits of the Department of Human Services and the Department of Parks, Heritage, and Tourism for more information on corrective actions. The committee then received a special audit review of the Charles W. Donaldson Scholars Academy at UA Little Rock. Auditors said the program received $10 million in desegregation funding and a $50,000 grant, awarded $1.87 million in scholarships to 379 students, and saw 116 students graduate. The review found many scholarship eligibility exceptions, including awards above the maximum and to students who did not meet GPA, enrollment-hour, or full-time requirements, and numerous disbursement documentation and authorization problems. Committee members sharply questioned the program’s oversight, the role of former staff, the use of funds for travel and cultural activities, and whether any improper spending should be referred for criminal review. UALR representatives said the program was overseen as a sponsored program, that some controls were later strengthened, and that Philander Smith only verified enrollment rather than eligibility. The committee voted to table the report until the next meeting and asked staff to gather the federal court order and additional information. Finally, the committee reviewed the annual report on matters referred to prosecutors and the Attorney General for 2024. Staff said 164 matters were referred, with 28 criminal charges filed, 39 still under review, 3 dismissed, 5 pending in court, and 96 not charged; convictions in 20 cases led to fines, restitution, audit costs, and some bond trust fund payments. Prosecutor representatives explained that many referrals do not become criminal cases because of intent, timing, or other legal limits, and said they generally seek restitution even when charges are not filed. Members asked for more standardized reporting, including whether restitution was recovered and why cases were not prosecuted, and discussed possible training and a checklist for future reports. The committee then voted to file the report and adjourned, with the next meeting set for February 12-13.

Transcript Highlights:

• And then depreciable business assets and the business inflation.
• </c><00:58:10.720><c> and</c> very broad-based and a new asset and very broad-based and a new asset and
• It's been a great asset to the state and is there if ever needed.
• It's been a great asset to important.
• </c> 84 million for universities and capital 84 million for universities and capital projects,<01:07:

Transcript Highlights:

• He simply said that if a utility adds assets, it has a right to a fair return on the asset, but it can
• expected lifetime of the asset.
• In effect, the ratepayers are already paying for that asset.
• the total amount of assets.
• the asset amount.

Committee: House House Natural Resources, Energy & Water Committee of Reference

Summary: The committee heard and took action on several water, energy, housing, and natural resources measures. House Bill 2099, as amended, was advanced on a 6-3 vote after testimony from water utilities, CAP, ADWR, Phoenix, and agricultural interests about long-term storage credits, Colorado River shortages, and the need to preserve flexibility in underground storage. House Bill 2263, also amended, passed 6-3 despite concerns from CAP, Colorado River Indian Tribes, and others that it would restrict where Colorado River replenishment water could be stored and reduce operational flexibility. House Bill 2264, requiring the University of Arizona to promote Arizona history and the five Cs through the mining museum effort, passed 9-0. House Bills 2330 and 2341, both relating to power plant and transmission line siting criteria, passed 6-3 after the sponsor argued they would better account for an area’s character and for speculative projects lacking known off-takers. House Bill 2918, ending certain tax breaks for renewable energy and storage equipment after 2026, passed 6-3. House Bill 2889, appropriating $1 million for uranium contamination monitoring and a statewide registry, passed 9-0 after discussion of tribal health impacts and possible amendment to shift implementation to ADEQ. House Concurrent Resolution 2057 supporting geothermal permitting reform passed 9-0, and House Concurrent Resolution 2020 supporting certain housing developments outside designated provider service areas passed 6-2. The committee also heard House Bill 2843 on portable plug-in solar devices, with the sponsor and supporters arguing it would lower bills and expand access for renters and apartment dwellers. Electric co-ops and utilities raised safety, backfeed, inspection, and liability concerns, and the chair held the bill for further work rather than taking a vote. House Bill 2782, dealing with utility rate transparency and regulatory assets, drew testimony from the sponsor and constituents about alleged double-charging in Santan Valley; after a motion to suspend committee rules to consider a late amendment, the amended bill passed 5-3. House Bill 4025, creating a study committee on gasoline and petroleum refineries, passed 6-3 after the sponsor argued Arizona relies heavily on imported gasoline. House Bill 2912, requiring integrated resource plans and independent review for electric utilities, passed 6-2 after amendment. Finally, House Bill 4100, requiring notice to customers about potential rate impacts if CAP water is lost, drew opposition from municipal and private water providers who said the required estimates would be speculative and could not be prepared by the deadline; the bill was discussed with an amendment expanding its scope, but the transcript ends before a final vote is shown.

Transcript Highlights:

• </c> companies no longer needed those assets. companies no longer needed those assets.
• </c> benefit for maintaining those assets. benefit for maintaining those assets.
• </c> reconstruction through uh capital funds. reconstruction through uh capital funds.
• transfer their personnel time to capital expenses when they're working on capital projects.
• their personnel time to capital expenses when they're working on capital projects.

Summary: The committee first heard testimony on House Bill 1042, which would increase the BFA contingent credit limit. State Treasurer Monica Misipelli explained that under RSA 66, state debt capacity is tied to unrestricted revenue and that guaranteed debt counts in the calculation even though it is contingent rather than direct debt. She said the state currently has about 4.2% to 4.3% debt-to-revenue ratio, about $120 million in additional capacity, and that approving the bill’s proposed increase would reduce available capacity for future state borrowing, including capital budgets. She noted the BFA has a long history of using guarantees without a state payout, but said the legislature should consider whether the full additional $250 million is needed and whether unused guarantee authorizations, such as one for the Pease Development Authority, should be reviewed in the future. Committee members asked whether guarantees have the same effect as actual debt for bonding capacity, and the treasurer confirmed that they do for purposes of the formula. Members also asked about the usual level of debt relative to the statutory 10% cap, and she said the state generally stays well below that limit. BFA Executive Director James Key Wallace then testified that the request was driven by rising project costs, inflation, and the need for more runway so the agency does not have to return to the legislature in an emergency. He said the BFA is self-supported, has never had a guarantee paid out by the state, requires collateral and reserves, and believes the appropriate range is closer to $400 million to $450 million; he also said a Senate bill would raise the limit to $400 million. He added that the BFA’s pipeline includes projects from about $15 million to $100 million and that housing availability is an important factor in business location decisions. After closing the work session on House Bill 1042, the committee opened House Bill 241, a bill on health insurance coverage for pain management services for chronic pain. Representative Dave Nagel, the prime sponsor, gave extensive background on his long career in pain medicine and said the bill is intended to improve access to non-opioid therapies and evidence-based pain management. He described the broad population affected by chronic pain and opioid use disorder, and said the proposal has long had bipartisan and stakeholder support. No vote or final action was taken on House Bill 241 in the portion of the meeting provided.

Transcript Highlights:

• I mean, they all have assets.
• </c><00:29:28.480><c> revitalization</c> others are asset revitalization others are asset revitalization
• Uh, just this year we've put together our top five capital needs across the entire state.
• uh needs across the top five capital uh needs across the entire<00:30:20.559><c> state.
• list are tend to be a little capital list are tend to be a little longer<00:31:23.760><c> term.

Summary: The Budget Review Subcommittee on Transportation met on July 15, 2025, approved the June 4 minutes, and heard updates on aviation and riverport funding programs. Commissioner Mark Carter of the Kentucky Department of Aviation reported on the $200,000 grants for general aviation airports included in House Bill 1, saying the money is being used mainly for hangar projects, fuel trucks, parking lot resurfacing, airport equipment, crew cars, and public education efforts. He said about 25 hangar-related projects were reported, with an estimated 60 T-hangars and four or five box hangars supported, and noted that the grants are often used to match federal funds. He also said the state’s jet fuel tax revenue generates about $23 million annually, up from about $19 million in 2021, and that most airports are now compliant with the ADS-B/VOR-related reporting system required in budget language, which has improved reported operations and may help airports qualify for FAA grants. Members asked about the pace of airport projects, the limited number of contractors for hangar construction, and whether airports could finance hangars themselves. Carter said timing has generally been good, though federal projects have slowed somewhat and contractor capacity remains a challenge, and he said there is no statute preventing airports from financing part or all of a hangar project. Questions also focused on the long-term need for hangars and the effect of the jet fuel cap, with Carter saying general aviation airports still have significant hangar demand and rely on state assistance because hangars are a key revenue source. Jeremy Edgeworth of the Transportation Cabinet and Brian Wright of the Kentucky Association of Riverports then reviewed riverport projects funded through House Bill 265 and House Bill 1. Edgeworth said the cabinet’s riverport grant program awarded $500,000 in each of fiscal years 2025 and 2026 for 13 projects under an 80/20 match, and that House Bill 1 provided $7.5 million per year for public riverports with no local match. He described completed or underway projects at multiple ports, including equipment replacements, dock and road repairs, material handling upgrades, mooring cell rehabilitation, and a waterline loop at Owensboro. He said $12.6 million of the KPRCM funds had been awarded across 20 projects, with about $2.4 million still to be awarded later in the fall. Wright said the riverport investments are helping ports replace aging assets, expand capacity, and match federal dollars, but he also said the statewide capital need remains large, with the current list of top projects already in the $90 million range and longer-term needs still estimated at $60 million to $90 million. Members asked about timelines and future needs, and Edgeworth said many of the larger projects will take two to five years because of permitting and coordination with the Army Corps of Engineers. No additional votes or formal actions were taken beyond approving the minutes.

Transcript Highlights:

• I mean, I'm putting it in very simple terms—my assets back.
• If there is a contested asset forfeiture, we will usually hold off on moving forward with the asset forfeiture
• I don't like asset forfeiture.
• Civil asset forfeiture.
• I'm hearing a lot about capital cases, but certainly this impacts a lot of non-capital cases, a lot of

Bills: HB867 , HB1347 , HB1801 , HB1820 , HB2197 , HB2617 , HB3110 , HB3166 , HB3330 , HB4237 , HB4342 , HB4629 , HB4933 , HJR148

Committee: House Criminal Jurisprudence

Keywords: criminal case dismissal, attorney discretion, law enforcement misconduct, judicial approval, evidence, judicial consent, transparency, healthcare, Medicare, insurance, elderly, retired, benefits, access, cost, criminal justice, case dismissal, prosecutorial discretion, law enforcement oversight, criminal procedure

Transcript Highlights:

• Welcome, everybody, to today's hearing of the Joint Committee on Bonding, Capital Expenditures and State
• Assets.
• some of these assets depreciate differently than a school building.
• In terms of how it would be capitalized, actually those capitalization funds do not come from Mass Ready
• In terms of how it would be capitalized, actually those capitalization funds do not come from Mass Ready

Committee: Joint Joint Committee on Bonding, Capital Expenditures and State Assets

Summary: The Joint Committee on Bonding, Capital Expenditures and State Assets held a hearing on S. 2542, the Mass Ready Act, the Healey-Driscoll administration’s environmental bond bill. Secretary of Energy and Environmental Affairs Rebecca Tepper and Undersecretary Jen Sullivan described the bill as a $3 billion resilience package to protect drinking water, farms, fisheries, roads, bridges, parks, and communities from flooding, heat, drought, wildfires, and other climate impacts. They highlighted major authorizations for flood and coastal resilience, DCR infrastructure, drinking water and wastewater upgrades, PFAS remediation, open space and land protection, food security infrastructure, and a new Resilience Revolving Fund for low-cost loans to municipalities, tribes, and water districts. Committee members asked about project lifespans, flood and salt marsh permitting, wastewater and combined sewer overflow funding, parkway maintenance, land acquisition priorities, Quabbin stewardship, and how the revolving fund would be capitalized and administered. The administration said the fund would be modeled on the Clean Water Trust, use existing trust resources rather than new fees, and could later support special obligation bonds; they also said the bill would streamline certain permitting and improve flood-risk disclosure and climate-related building standards. Many witnesses urged the committee to strengthen the bill’s funding levels or add related policy provisions. Labor, contractor, and plumbing groups supported creating a water reuse and graywater recycling commission, saying it could conserve water, reduce stormwater and sewer burdens, and create skilled jobs. Boston Harbor Now asked for higher authorizations for the Municipal Vulnerability Preparedness program and resilient coast work, plus permitting reforms for nature-based and waterfront projects. The Massachusetts Rivers Alliance backed the bill but also urged inclusion of drought-management legislation, a water reuse commission, a statewide flood buyout program, and more support for community resiliency. Environmental justice advocates from Green Roots called for dedicated funding for outdoor and indoor air quality monitoring and indoor air quality improvements in schools and public housing, while conservation and tree advocates sought larger investments in urban forestry, local nurseries, and workforce training, along with clearer language to ensure municipal reforestation funds go to cities and towns. Agricultural and food system witnesses emphasized the importance of the bill’s food security and farmland provisions. The Southeastern Massachusetts Agricultural Partnership and the Mass Food System Collaborative supported the $125 million food security infrastructure grant program, saying it has funded critical facilities and equipment for farmers, fishers, processors, and food access organizations, but warned that without the bill there could be a funding gap in fiscal year 2027. They also supported farmland protection and asked for more funding for agricultural capital programs, used-equipment eligibility in grant programs, and a next-generation farmer fund. Water utility representatives said the bill still falls short of the state’s long-term drinking water, wastewater, and stormwater needs, citing EPA estimates of nearly $37 billion in needed investments over 20 years and urging dedicated recurring funding and broader eligibility for climate resilience grants. No votes were taken at the hearing.

Transcript Highlights:

• Y'all give us some capital expense money.
• </c> another other round of hopefully capital another other round of hopefully capital improvement<00
• </c> us give us some capital expense money. us give us some capital expense money.
• We have a $2 million capital Fisheries.
• So the capital expense spent on others.

Committee: Joint Appropriations

Transcript Highlights:

• My concern is also of assets.
• And lastly, our office lease increases 3% per year, as negotiated by the Division of Capital Asset Management
• And lastly, our office lease increases 3% per year, as negotiated by the Division of Capital Asset Management
• One is around the new asset limit.
• The asset limit for both of those programs is $2,000. And so in 2021, the asset limit was low.

Committee: Joint Joint Committee on Ways and Means

Transcript Highlights:

• We manage about $32.5 billion in assets.
• The question about speculative assets: yes, that's kind of a what's-happening-today kind of question.
• I think there's a number of assets that are out there now, not necessarily alternative assets, but just
• traditional assets that may be considered very speculative because of the nature of the capitalization
• Right now, the LGP has $7.8 billion in assets under management.

Committee: House House Appropriations Committee of Reference

Summary: The Appropriations Committee met on January 28 and heard several bills, beginning with introductions of members and staff. The committee first considered HB 2056, which would appropriate $100,000 to the Arizona Department of Water Resources for a feasibility study of brackish groundwater desalination sites. Sponsor Rep. Gail Griffin argued the state should explore use of large brackish groundwater reserves amid Colorado River concerns, while one speaker opposed the bill on aquifer-protection grounds. The committee voted 11-6-1 to give HB 2056 a due pass recommendation. The committee then took up HB 2798, as amended, which appropriates $100,000 to the Arizona Geological Survey to compile data on materials relevant to nuclear energy, including thorium and other non-uranium fuels. Rep. Carbone and others framed the bill as an economic development and national security measure, while opponents questioned whether Arizona has meaningful deposits and whether the state should fund the research. The University of Arizona testified that the Geological Survey could do the work. The committee adopted the Livingston amendment and then approved the bill 11-5-1. Next, the committee considered HB 2303, which codifies investment standards for the State Treasurer, emphasizing safety and principal preservation and prohibiting speculative investments and insider misuse. The Treasurer’s Office supported the bill, saying it reflects existing policy and ethics rules, though members asked for clearer definitions of “speculative” and how the bill would interact with other statutes. The committee passed HB 2303 15-0 with two members present and one not voting. HB 2344, which directs the Treasurer to manage the local government investment pool internally and allows a third-party contract only for emergency backup, also passed after questions about local control and whether the bill was necessary; the vote was 12-2-3 with one not voting. The committee later heard HB 2759, a $500,000 appropriation to the Department of Veterans’ Services to partner with an educational institution in Yavapai County for veterans programs. Retired Navy SEAL Chief Richard Rodriguez testified about Embry-Riddle’s veteran population and emergency assistance needs for housing, travel, and equipment, while opponents objected to using state funds for a private institution and argued veterans services should be broader and statewide. The bill received a due pass recommendation 11-6-1. The committee also approved HB 2207, which funds the prison Braille transcription program at $300,000 and was described as a successful rehabilitation and service program, and HB 2224, as amended to $1 million, which funds the Double Up Food Bucks produce incentive program through SNAP; supporters said it helps families, farmers, and local economies, and the committee adopted the amendment and passed the bill.

Transcript Highlights:

• Thank you for your work on the capital budget.
• Thank you for your work on the capital budget.
• The Model Toxics Control Capital Account.
• Senate capital budget as well.
• As the name suggests, CCA operating is for the operating budget and CCA capital is for the capital budget

Summary: The committee first heard a briefing on the proposed Senate capital budget, Substitute Senate Bill 6003, which would spend about $723 million total using debt-limit bonds, Climate Commitment Act funds, and other cash resources. Staff described major investments in housing and homelessness, human services, local infrastructure, flood response, water conservation and clean energy, K-12 school modernization and seismic work, and higher education projects. Members then took public testimony from a wide range of advocates and project sponsors, most of whom urged the Senate to preserve or increase funding for specific projects in the final budget, including affordable housing, permanent supportive housing, child care facilities, food banks, behavioral health and substance use treatment centers, tribal courthouse relocation, school modernization, community colleges, university projects, floodplain restoration, community forests, and local civic or cultural facilities. Several witnesses also asked the Senate to match or approach House funding levels on items such as the Housing Trust Fund, permanent supportive housing, the Community Forest Program, Floodplains by Design, and CCA-supported clean energy and water projects. The chair noted that amendments to the capital budget were due the next day at noon. The committee then received a briefing on Engrossed Second Substitute House Bill 2251, which would restructure Climate Commitment Act accounts by repealing three existing accounts and replacing them with two new accounts: a CCA operating account and a CCA capital account. Staff explained that the bill would preserve most existing uses while changing revenue distribution formulas, capping Ecology administrative costs, expanding allowable uses for EV-related costs, housing, and carbon capture/sequestration, and changing reporting and tribal consultation provisions. The bill also shifts some reporting from annual to biannual and modifies the thresholds for tribal-supported and overburdened-community investments. The fiscal note was described as relatively small, with the main impact being the revised revenue allocation structure. Public testimony on the CCA bill was mixed. Supporters, including the League of Women Voters, said the restructuring better aligns spending with the intent of the CCA and could improve investments for tribes and overburdened communities. Critics, including the Washington Policy Center, argued the bill still lacks strong requirements to ensure CCA spending is effective and objected to reducing the frequency of the state’s climate-spending report. No votes were taken during the portion of the meeting provided.

Transcript Highlights:

• Regardless of the insurer's existing exposure, capital position, or reinsurance capacity.
• Some companies have the capital to responsibly grow and ride additional homes. Others do not.
• That's the difference between capitalism and communism, frankly.
• That's the difference between capitalism and communism, frankly.
• That's the difference between capitalism and communism, frankly.

Committee: Senate Insurance