Video & Transcript Research : 'rate decoupling'
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FL
Florida 2025 Regular Session
December 4, 2025 - 08:30 AM
Transcript Highlights:
- WE LOOKED AT THE RESEARCH QUESTION IS THERE A DIFFERENT IN THE FIRST ATTEMPT AND PASS RATES.
- HERE THIS SLIDE IS SHOWING YOU OUR NCLEX PN PASS RATES.
- HOW MANY PASS ON THE SECOND ATTEMPT AND DO OUR RATES RISE BECAUSE IT IS LIKE A SITUATION ETC.?
- THESE INTERVENTIONS, HAVE YOU SEEN A SUCCESSFUL PASS RATE AFTER PROVIDING THESE INTERVENTIONS?
- NUMBER 1 YOU HAD TO BE ON PROBATION AND YOU HAVE TO FINISH WITH A 30% PASSAGE RATE OR LOWER.
NH
Transcript Highlights:
- Um, and rate.
- If the prime rate comes down, then the rate that the treasurer will apply will also come down.
- If the prime rate comes what it is.
- reasonable thing to peg the rate to. reasonable thing to peg the rate to.
- I would like to lessen the interest rate if we can get a better rate, um, for, you know, as this may
FL
Florida 2026 Regular Session
Joint Committee on Public Counsel Oversight Dec 8th, 2025
Transcript Highlights:
- We are allowed to fully explore these rate cases.
- them whole without having to wait until a new rate case.
- Rate case, negotiated for two and a half months.
- We made it a singular issue in the Tico rate case.
- It's not in the rate case statute.
Summary:
The Joint Committee on Public Counsel Oversight met to receive an overview from Public Counsel Walt Trierweiler on the work of his office. He described the office’s role in representing Florida utility customers in rate and service cases, including investor-owned electric, water, and wastewater matters, storm cost recovery, fuel clauses, storm protection plans, and specialized dockets. He emphasized the office’s use of depositions, expert witnesses, customer correspondence, and service-hearing testimony to challenge unsupported utility costs and seek “fair, just, reasonable, and affordable” outcomes for customers.
Trierweiler highlighted several current issues, including affordability, data centers, and the growing use of AI in reviewing large utility filings. He said the office has begun using affordability experts and data center witnesses, and that data center-related utility proposals raise concerns about energy demand, water use, and community impacts. He also expressed caution about AI and machine learning because of confidential utility information, while acknowledging that utilities, regulators, and his office are increasingly using such tools.
Members asked questions about how customer input is gathered, how profit is evaluated in rate cases, the role of settlement agreements, and whether the office is considering water consumption impacts from data centers. Trierweiler said customer feedback largely comes in through hearings, correspondence, and direct calls rather than office-led canvassing, and that his office seeks to limit imprudent costs while allowing utilities a fair return. He also explained that the office may file motions for reconsideration and appeals after PSC orders, and that it sometimes submits alternative settlement proposals even when approval is unlikely, to present a different option for the commission’s consideration. No votes were taken, and the committee adjourned after concluding its agenda.
MN
Transcript Highlights:
- We are a rating agency, and I have been rating the state of Minnesota for the last four years.
- We are a rating agency, and I have been rating the state of Minnesota for the last four years.
- things again is on what you uh rated things again is on what you uh rated Minnesota<01:13:56.719
- I mean, when you rate these things, you're rating them for the life of the bond.
- Kowalski, could you tell me, do the interest rate forecasts affect your ratings at all? Mr.
HI
Hawaii 2026 Regular Session
CPN-LBT, CPN DEFER, CPN DEFER, CPN, CPN-EIG Public Hearings 02-10-2026
Commerce and Consumer Protection
Transcript Highlights:
- Um, the division's rate-making and rate-approval process actually already accounts for, um, that process
- approval division's rate making and rate approval division's rate making and rate approval process
- So in Hawaii um rates are raising rates.
- <00:48:42.559>
I perceived rate reductions happen. I perceived rate reductions happen. - cost the rate $1.4 billion. Correct. cost the rate $1.4 billion. Correct.
Keywords:
renewable energy, energy storage, cost reduction, public utilities commission, Hawaii energy policies, intoxicating liquor, direct shipment, breweries, distilleries, Hawaii, 912, senate, all
Summary:
The committees heard SB 3001 on artificial intelligence in a joint Commerce and Consumer Protection/Labor and Technology hearing. Testimony included support from the Department of Education and Google, comments from the Office of Consumer Protection and the Attorney General’s office, and late opposition from Agentic LLC. The Attorney General raised constitutional and vagueness concerns and suggested clarifying amendments, while Google said the bill’s risk-based approach and proposed amendments could help establish industry-wide safety standards for minors. The committees recessed and then voted to pass SB 3001 with amendments, adopting DCCA/OCP recommendations on data minimization for minors and UDAP clarity, the Attorney General’s proposed clarifications and deletions, and Google’s nonconflicting amendments; the effective date was deferred to July 1, 2050. The vote passed unanimously among members present, with some members excused.
The Commerce and Consumer Protection committee then took up several previously heard measures in decision-making. SB 2045 on combat sports passed with amendments reflecting DCCA and boxing commission recommendations, including clarifying the on-site medical professional requirement, reporting duties, promoter payment, removal of the combat sports registry and ambulance requirement, and other technical changes; the effective date was deferred to July 1, 2050. SP 2347 on the residential landlord-tenant code passed with amendments striking landlord requirements so OCP could work on a multilingual tenant-rights notice, and SP 2495 on consumer protection passed with amendments requiring OCP to publish an annual report on potential code violations. SB 2777 on insurance was deferred to February 17, 2026 for further decision-making.
At a later CPN decision-making agenda, SB 2471 and SB 2829, both relating to the powers of artificial persons, passed with amendments clarifying the preamble, removing language about foreign artificial persons, and making other consistency and non-substantive changes; both effective dates were moved to January 1, 2027. SP 2033 on renewable energy also passed with amendments clarifying the definition of grid-ready homes, cost-sharing provisions, applicability to interconnecting customers, and safety/certification compliance, with the effective date deferred to July 1, 2050. In each case, the committee voted to adopt the recommendations without objections from members present.
The committees also heard SB 3000 on insurance, which would authorize the Attorney General to bring civil actions to recover costs and losses tied to climate-attributable harm and future climate risk, including costs incurred by state insurance-related entities. The Insurance Division and Attorney General’s office offered comments seeking clarification and warning about redundancy, implementation issues, possible representation of private insurers, and concurrent litigation concerns. Supporters, including the Center for Climate Integrity, a resident testifier, Sierra Club, and Green America, argued the bill would help shift insurance costs to fossil fuel companies responsible for climate harms and address rising premiums and nonrenewals in Hawaii. Opponents, including the American Petroleum Institute, argued the bill singled out one industry, raised constitutional concerns, and should be deferred because related climate litigation is already pending. The transcript ends with the committee continuing testimony and discussion on SB 3000 and then moving into SB 3326 on energy, where the consumer advocate and Hawaiian Electric opposed the bill’s proposed separation of generation from transmission and distribution, while the PUC stood on written testimony, Retail Merchants of Hawaii supported it, and Life of the Land raised concerns about assumptions and the need for more substance.
LA
Louisiana 2026 Regular Session
Public Retirement Systems Actuarial Committee Jun 22nd, 2026
Transcript Highlights:
- 2025, which projects the contribution rate beginning July 1, 2026.
- So the projected contribution rate for beginning 2026, So the projected contribution rate for beginning
- So the 30.05% is an aggregate contribution rate.
- So for rank and file, you can see that the total rate is 29.25%.
- The next slide shows the employer contribution rate change breakdown.
Summary:
The Public Retirement System Actuarial Committee met on Monday, June 22, with a quorum present and approved the prior meeting minutes. There was no public comment. The main item was an actuarial update from Ms. Johnson on LASERS, prompted by House Bill 312 of 2026, which appropriated about $145 million to LASERS and required the committee to revise the projected fiscal year 2027 employer contribution rate to reflect the funds received.
Ms. Johnson explained that $87.6 million was applied to the original amortization base, paying it off, and the remaining $57.9 million was applied to the experience account amortization base. As a result, the projected aggregate employer contribution rate for fiscal year 2027 was reduced from 32.51% to 30.05%, a decrease of 2.46%, with the projected employer contribution amount revised to about $738.7 million. She also noted that the original amortization base balance would be zero by June 30, 2026, while the experience account amortization base would continue to be paid down over time.
Committee members asked about the longer-term impact of the changes, including a question about projected savings in 2036. Ms. Johnson said the later-year savings would depend on future actuarial experience and investment performance, but the projected UAL payment in that year would be lower under the revised schedule. The committee then moved to adopt the revised projected fiscal year 2027 LASERS contribution rate of 30.05% by plan, the motion was seconded, and it passed without opposition. The meeting then adjourned.
CA
California 2025-2026 Regular Session
Assembly Budget Subcommittee No. 2 on Human Services May 18th, 2026
Transcript Highlights:
- are set under the single rate structure.
- were put into the base rate rather than in the cost-of-care-plus rate, which is paid outside of contract
- be reimbursed at the infant rate.
- elements by defining age rate categories and details around the enhanced inclusion rates.
- June 30th out of 5 million a month burn rate.
Summary:
The Assembly Budget Subcommittee on Human Services held a hearing on the Governor’s May Revision, with no votes taken. The first major discussion focused on child care and early education, including proposed reductions tied to federal Child Care and Development Fund and Proposition 64 revenue changes, the shift of reductions from general child care to the California Alternative Payment Program, the end of funding for prospective pay implementation, a 2.01% cost-of-living adjustment, child care infrastructure grants, and a proposal to increase administrative funding for alternative payment agencies. The Legislative Analyst’s Office generally supported removing prospective pay funding and urged caution on the administrative-rate shift, while also recommending more justification for the slot reduction approach and more detail on infrastructure grant alignment. Committee members strongly objected to eliminating about 6,000 child care slots, arguing the Legislature should preserve and expand child care access. The Department of Education supported the preschool QRIS block grant increase and the COLA but raised concerns about rate alignment for three- and four-year-olds and the lack of funding to maintain enrollment growth.
The committee then reviewed trailer bill language affecting child care, including codifying age-based reimbursement categories, expanding documentation for enhanced inclusion rates, clarifying CalWORKs child care eligibility, aligning health and safety standards with federal requirements, coordinating disaster-related infrastructure funding, and updating oversight language. Administration officials said the proposals were intended to support the single reimbursement rate structure, improve safety compliance, and coordinate disaster recovery funding. LAO said it had no major initial concerns with the trailer bill language but would continue reviewing it.
The hearing then turned to CalFresh and nutrition programs. CDSS described projected caseload declines, a one-time augmentation for county administration to implement federal H.R. 1 changes, a proposed reassessment schedule for county administrative funding, and updated estimates that H.R. 1 could cut CalFresh funding by $2.3 billion to $3.7 billion annually and affect about 500,000 people. Members pressed the administration on the impact of H.R. 1, the “chilling effect” on immigrant households, county workload, and whether the state should backfill federal cuts, especially for families with children subject to new work requirements. The committee also discussed a one-time CalFood augmentation, state administrative expense funding, staffing for H.R. 1 implementation, and a small increase to the CACFP meal reimbursement rate. Finally, the committee began IHSS items, including the impact of reinstating the Medi-Cal asset limit, automatic IHSS termination tied to Medi-Cal loss, and related savings and caseload estimates, with the administration explaining that these proposals would reduce eligibility and that there is no broad substitute for IHSS for many recipients.
CA
California 2025-2026 Regular Session
Joint Hearing Budget Subcommittee No. 2 on Human Services and Budget Subcommittee No. 1 on Health Apr 9th, 2025
Transcript Highlights:
- eviction from assisted living because of unsustainable rate increases, because they don't have rate
- The planned CBAS rate increase would have increased the CBAS rate by approximately 2.7 percent.
- they may pay a higher rate.
- is the published rate on the website, and that rate was higher.
- Is it the SSI/SSP COLAs or 100% of the poverty rate? ...of the poverty rate?
Summary:
The joint Assembly Budget Subcommittee hearing focused first on long-term services and supports for older adults, especially the “forgotten/overlooked middle” who earn too much for Medi-Cal but cannot afford private long-term care. Administration witnesses from DHCS, the Department of Aging, and Social Services described Medicare’s limited long-term care coverage, Medi-Cal’s role, the elimination of the Medi-Cal asset test, and ongoing state studies and listening sessions on financing options. Testimony from advocates and researchers emphasized rising homelessness among older adults, the need for better navigation and coordination across health, aging, housing, and social service systems, and short-term policy steps such as share-of-cost reform, housing stability supports, and protecting home- and community-based services. Members highlighted the need for a coordinated, no-wrong-door approach and asked for the most impactful budget investments to address affordability and homelessness risk.
The second major topic was the Community-Based Adult Services (CBAS) program. CDA reported that CBAS helps participants remain in the community, that 304 centers operate statewide serving about 42,000 people, and that demand is stable but access gaps remain in some regions. DHCS explained that a 2024 rate increase authorized by SB 159 became inoperative after Proposition 35, and that a separate 10% rate change on the fee schedule was the result of a DHCS system error; the department said it would not require recoupment, though managed care plans may act under their contracts. CBAS providers and advocates warned that reimbursement rates have not kept pace with costs, that several centers have closed, and that clawbacks could trigger more closures. They requested $74.8 million ongoing General Fund to close part of the rate gap and preserve the program, while members expressed concern about closures and the cost savings of keeping people out of more expensive institutional care.
The hearing then moved to In-Home Supportive Services (IHSS) and statewide collective bargaining. CDSS reviewed provider recruitment and retention efforts, including electronic timesheets, direct deposit, and the now-completed IHSS Career Pathways program, which trained more than 59,000 providers. CDSS also summarized its AB 102 workgroup report on statewide versus regional bargaining, saying the final report would be sent to the Legislature soon and that statewide bargaining appeared more viable than regional bargaining, though it would require clear statutory scope and major fiscal changes. The department estimated that each $1 per hour statewide wage increase would cost at least $1.3 billion to $1.5 billion annually. Labor advocates argued that IHSS wages, benefits, and training are too inconsistent across counties and called for statewide bargaining, consumer participation, and ongoing state funding. County representatives supported stronger wages but cautioned that counties need protection from new costs and administrative burdens, and consumer advocates warned that moving bargaining to the state could weaken local consumer control and the program’s consumer-driven structure.
NM
New Mexico 2026 Regular Session
House - Appropriations and Finance Jan 14th, 2026 at 08:34 am
House Appropriations & Finance
Transcript Highlights:
- They have a pretty good success rate.
- Chair, Representative Dow... almost everyone received a rate increase, I believe, in the last rate study
- These rates are not high enough.
- The rate study from 2023 was implemented, but it didn't recommend rate increases.
- We got a very high response rate from the providers for the current rate study, so I'm very happy about
MN
Minnesota 2025 1st Special Session
Cmte on Rules - Subcommittee on the Federal Impact on Minnesotans and Economic Stability - 09/25/25
Transcript Highlights:
- payment error rate. payment error rate.
- , payment error rate, and case and procedural error rate.'
- >
and timeline rate, payment error rate, and timeline rate, payment error rate, and case<00:21 - um recent challenges with error rates. um recent challenges with error rates.
- error rates. error rates.
NH
New Hampshire 2025 Regular Session
House Finance Division II (02/03/2025)
Transcript Highlights:
- , you pay an actual tax rate.
- because you don't pay an equalized rate because you don't pay an equalized rate you<00:20:50.400
- At one point, it was a rate, so the rate was frozen.
- At one point, it was a rate, so the rate was frozen.
- Same rate.
Summary:
The Department of Education’s Bureau of School Finance provided an adequacy-funding training for Division II, led by Mark Mello. He walked the committee through the adequacy formula using Albany, Allenstown, and Alton as examples, explaining average daily membership, base adequacy aid, and differential aid for free/reduced-price meals, special education, and English language learners. He also noted a recent change requiring home-education differential aid and emphasized that these aid streams are generally unrestricted district funding rather than money tied to specific students or programs.
A major focus was the ongoing litigation over the adequacy base amount and the statewide education property tax, or SWEPT. Mello explained the historical basis of the current base amount, the 2008 legislative report that set the original methodology, and the later court ruling that the adequacy amount should be $7,356, which is now before the Supreme Court. He also described how SWEPT currently raises a fixed statewide amount of $363 million and how that revenue is used to offset the state’s adequacy obligation. For the example towns, Albany and Allenstown receive state adequacy grants because their SWEPT revenue is below their calculated adequacy cost, while Alton is an excess SWEPT community because its local SWEPT revenue exceeds the cost of adequate education.
The discussion then turned to the pending “excess SWEPT” issue in the Supreme Court and what would happen if excess collections had to be remitted to the state. Mello said the Department is preparing a hypothetical walkthrough and explained that, if the court upholds the Superior Court ruling, DRA would likely be directed to collect excess SWEPT. Members raised concerns about whether SWEPT must be used for educational purposes and about the cash-flow burden on towns if money had to move from municipalities to the state and then back to districts. Mello and members discussed possible administrative workarounds, such as credits against other state aid distributions, and noted that the committee would continue reviewing the mechanics if the court decision comes down during budget work.
FL
Florida 2025 Regular Session
September 23, 2025 - 09:00 AM
Transcript Highlights:
- The issue really isn't millage rates.
- Once that proposed millage rate is set in July and notices are sent to property owners, the millage rate
- Millage rates have decreased 28%.
- rate, okay?
- Fifty-seven counties stayed at the same millage rate or lowered it but didn't go to rollback rate.
Summary:
The Select Committee on Property Taxes heard first from city representatives through the Florida League of Cities, who argued that property taxes are a stable local revenue source that funds core services such as police, fire, parks, public works, and stormwater work. Casey Cook emphasized that cities are optional governments with widely different tax bases and service levels, that exemptions shift the burden to fewer taxpayers, and that transparency already exists through TRIM notices, public budgets, and local hearings. Sarah Campbell of Fernandina Beach, T. Michael Stavris of Winter Haven, and Stephen O’Kee of Port St. Lucie described their budget processes, the share of general-fund revenue coming from property taxes, reserve policies, debt and capital planning, and the impact of inflation, minimum wage increases, and personnel costs. They all said local governments need predictable revenue and that any property tax changes would require careful consideration of replacement funding or service reductions.
Members questioned the city panel about whether homebuyers are clearly informed about city versus county taxes and services, the role of HOAs, how many lobbyists cities employ, reserve levels, average salaries, and whether utility revenues are used only for utility purposes. The panel said TRIM notices, realtor listings, and city websites provide tax information; HOAs generally do not provide emergency services; lobbyists help local governments track Tallahassee legislation; reserves vary by city and fund; and utility revenues are generally restricted, though some cities use limited transfers. Members also asked about revenue replacement if ad valorem taxes were reduced or eliminated, and the panel said options would likely include user fees, service cuts, or other local revenue shifts. The chair also asked about public safety consolidation, and the response was that such decisions are local and may shift costs rather than create true savings.
The committee then heard from county representatives after an overview by the Florida Association of Counties’ Davin Suggs, who framed counties as shared partners with the state and emphasized the gap between rising market values and the shrinking share of taxable value after exemptions and assessment limits. He said counties face a mismatch between revenue based on taxable value and expenses driven by real-world costs, and noted that most counties either held millage steady or lowered it without reaching rollback rates. He also highlighted that property taxes are only one part of county revenue, with charges for services and intergovernmental revenue often larger in some counties, and that public safety at the county level includes more than law enforcement, such as EMS, emergency management, inspections, and corrections.
Deborah Manzo of Okeechobee County described a fiscally constrained rural county with limited staff, a county-supported airport, heavy reliance on property taxes for the general fund, and major cost pressures from inflation, insurance, retirement, and state and federal mandates. She said the county lowered millage slightly over recent years but still depends on multiple revenue sources and special assessments, and she flagged Medicaid, medical examiner costs, and possible firefighter workweek changes as significant concerns. Bay County Administrator Mark McQueen said his county’s budget is shaped by Hurricane Michael recovery, non-discretionary obligations, and rapid growth; he described ongoing FEMA reimbursement delays, substantial borrowing to cover disaster costs, and continuing interest expenses while the county waits for reimbursement. The county panel was still in progress when the transcript ended.
MN
Transcript Highlights:
- c><00:08:12.919>
gets <00:08:13.199>multiplied rate and then that rate gets multiplied - rate and then that rate gets multiplied by<00:08:14.599>
the <00:08:14.840>value <00:08: - And then there was also a class rate compression at this time that lowered the classification rates on
- , or the original local tax rate.
- local tax rate is 100%.
Summary:
The House Tax Committee met to hear a House Research presentation from Jared Swanson on Minnesota’s property tax system. Before the presentation, the chair announced that the committee would put the governor’s budget on hold until the department could provide the information needed for a proper hearing. The committee then approved the prior meeting minutes without objection.
Swanson gave an overview of how property taxes are structured and collected in Minnesota, explaining that the state uses a levy-based system in which local governments set levies and counties collect and distribute payments. He described the property tax cycle, the difference between referendum market value and net tax capacity, and how classification rates shift tax burdens among property types. He also outlined the state general property tax, noting it is split between commercial-industrial property and seasonal recreational property, and reviewed how Minnesota compares with other states, with residential taxes generally around the middle and commercial-industrial taxes relatively higher.
The presentation also covered major property tax relief and aid programs. Swanson explained three broad relief mechanisms: shifting burdens through exclusions and classification rates, state-paid credits and refunds, and state aid to local governments or levy reductions. He discussed local government aid (LGA), township aid, and county program aid (CPA), including their funding levels, formulas, and general-purpose nature. Members asked why some cities receive no LGA and how the funds may be used; Swanson said cities with strong tax bases often receive zero aid and that the money generally can be used for the same purposes as property tax revenue. No votes were taken on the presentation itself.
MN
Transcript Highlights:
- Opt-out rates have risen dramatically in recent years.
- Opt-out rates have risen dramatically in recent years.
- Opt-out rates have risen dramatically in recent years.
- Opt-out rates have risen dramatically in recent years.
- the reported academic achievement rates the reported academic achievement rates in<01:10:46.239>
OK
Oklahoma 2026 Regular Session
Appr/Sub-Health and Human Services Feb 4th, 2026 at 09:45 am
WA
Washington 2025-2026 Regular Session
House State Government & Tribal Relations Dec 5th, 2025
Transcript Highlights:
- So we look at signature challenge rates over time.
- We have high signature challenge rates for voters of color.
- and reduce the rejection rate.
- and reduce the rejection rate.
- and pockets that might have lower turnout rates.
Summary:
The committee held a work session on voting rights in the United States and Washington, beginning with testimony from Marissa Wright of Campaign Legal Center and David Montes of the ACLU of Washington. They described the federal Voting Rights Act’s main protections—preclearance, vote suppression, and vote dilution—and argued that Supreme Court decisions such as Shelby County v. Holder and Brnovich have weakened those tools. They said Washington should consider stronger state-level protections, including a preclearance program and broader safeguards against discriminatory voting practices. Members asked about Washington’s history of discrimination, voter roll purges, noncitizen registration, and remedies under the Washington Voting Rights Act, including ranked-choice voting and district-based systems.
The committee then heard from the Office of Equity and several commissions, which described their roles in advising state government and working with communities. They focused on the immigration sub-cabinet created under Executive Order 2509, saying it is intended to improve coordination across agencies, the legislature, the courts, and community organizations on issues such as data privacy, language access, health care, education, and accountability under the Keep Washington Working Act. Members asked about the use of NGOs, accountability for KWW violations, and the sub-cabinet’s goals, and the panel said the effort is meant to help government respond more quickly and collaboratively while centering immigrant, disability, LGBTQ, and other communities.
The final panel was from the University of Washington Elections Database Project, which presented data on vote-by-mail ballot challenges, cures, and rejections from 2020 to 2024. They reported that about 1.5% of ballots are signature-challenged in most elections, roughly 60% of challenged ballots are cured, and overall rejection rates are about 1% in general elections and 1.5% in primaries. The researchers said voters of color, younger voters, and some tribal-area voters experience higher rejection rates, and that differences appear tied to signature mismatch, language access, ballot timing, and familiarity with the system. In the last panel, Maria Fernandez and Vicki Frausto of EIA described voter education and civic engagement work in Yakima County and Sunnyside, including concerns about intimidation, language barriers, signature mismatch, and at-large election systems; they said stronger Washington Voting Rights Act protections would help communities elect candidates of choice. No votes were taken during the work session.
MN
Minnesota 2025-2026 Regular Session
Minnesota Management and Budget Press Conference 2/27/26
Transcript Highlights:
- to the national rate.
- Although the unemployment rate has risen, Minnesota's rate remains below the national rate, and the state's
- annualized growth rate of 2.2%. annualized growth rate of 2.2%.
- We have the AAA bond rating.
- Um we have uh a AAA bond rating.
Summary:
Minnesota Management and Budget officials presented the February 2026 budget and economic forecast, saying the state remains in a strong financial position but faces continued structural imbalance and significant uncertainty. Commissioner Aaron Campbell said the FY 2026-27 balance is now projected at more than $3.7 billion, up about $1.3 billion from November, and the FY 2028-29 planning period is projected to end with a $377 million positive balance. He emphasized that the improvement comes largely from higher projected revenues, especially individual income and corporate franchise taxes, but warned that the state is increasingly reliant on more volatile sources such as capital gains, interest income, and corporate profits.
State Economist Dr. Anthony Becker said the national outlook improved slightly, with stronger projected GDP, consumer spending, and investment, but weaker payroll growth and ongoing trade-policy uncertainty. He noted that the forecast was complicated by missing federal data because of the federal shutdown, and that tariffs, immigration policy, equity markets, and possible AI-related shifts all present risks. Revenue projections were raised for the current biennium, including individual income tax receipts, sales tax revenue, corporate franchise tax revenue, and other revenues, while Becker stressed that federal funding threats, especially involving Medicaid and other entitlement programs, could materially alter the outlook.
State Budget Director Anna Mingi said general fund spending in the current biennium is projected to be $68 million lower than previously estimated, but planning-year spending is up $152 million. The biggest spending changes came from education, where special education costs rose sharply after updated local spending data, and from human services, where a new prepayment review process for certain Medicaid benefits reduced projected spending by $133 million this biennium and $105 million in the next. She also said discretionary inflation is now estimated at $1.04 billion, up $104 million from November.
Campbell closed by saying the state’s reserve remains at a record $3.8 billion and that Minnesota’s AAA bond rating and reserve policy help protect against downturns. He cautioned, however, that the long-term structural imbalance remains about $3.4 billion in the planning years, or $2.3 billion excluding discretionary inflation, and urged policymakers to offset any new spending with reductions. No votes or formal actions were taken; the meeting was a presentation and question-and-answer session on the forecast.
NM
New Mexico 2025 Regular Session
IC - Legislative Finance Dec 9th, 2025 at 01:24 pm
Transcript Highlights:
- Our unemployment rate was impacted.
- So if you're getting the standard rate, the base rate, not the enhanced if you're opted into that yet
- There's still base rates, enhanced rates, and universal rates.
- We have a standard rate and then those who opt in to an enhanced rate.
- Yes, so everything's standard rate. And then enhanced rate based on levels of quality.
MN
Minnesota 2025-2026 Regular Session
Committee on Energy, Utilities, Environment and Climate - 03/10/25
Energy, Utilities, Environment, and Climate
Transcript Highlights:
- REA buys at the peak rate.
- REA buys at the peak rate.
- <01:23:54.960>
retail than the going retail than the going retail rate rate rate so<01:23: - retail rate?
- <01:38:39.159>
is retail rate than the wholesale rate is retail rate than the wholesale rate
AZ
Transcript Highlights:
- It is paying one rate in this state, and it's the rate at the location that they're at.
- And we would be open to... ...it is paying one rate in this state, and it's the rate at the location
- Is paying one rate in this state and it's the rate at the location that they're at.
- tax rates.
- You are taxed at one rate—the rate at the location at which you received that item.
Keywords:
public safety, retirement system, investments, trust fund, board of trustees, financial report, income tax rebate, Pinal County, taxpayer eligibility, state revenue, financial assistance, transaction privilege tax, business location, tangible personal property, shared vehicle, sourcing, income tax, veterans, donations, tax refunds
Summary:
The House Ways and Means Committee first set aside House Bill 2794 at the sponsor’s request and then took up House Bill 2290, which would clarify Arizona transaction privilege tax sourcing rules for tangible personal property by specifying that an order is received at a seller’s business location and that server location does not control sourcing. The sponsor said the bill codifies existing, historic treatment and would provide certainty for taxpayers, while the League of Arizona Cities and Towns opposed it, arguing it would be a major departure from current practice, could shift revenue away from rural communities, and could create multiple tax rates for a single transaction. The Department of Revenue said it was neutral, acknowledged ongoing ambiguity and administrative complexity, and explained that a 2023 draft ruling had been based on a legal analysis but was never finalized. Several business and association witnesses supported the bill as necessary to prevent inconsistent audits and to preserve origin-based sourcing for in-state sellers. After extended debate, the committee passed HB 2290 on a 5-3 vote, with one member absent.
The committee then heard House Bill 2373, which would add a space on the individual income tax return for taxpayers to voluntarily direct part of a refund to the Veterans Donations Fund or a veterans service organization fund. The sponsor and a representative of veterans advocacy groups described it as a simple, voluntary way to support veterans organizations and local projects. No opposition was raised, and the bill was approved unanimously by the members present, 8-0, with one absent.
Finally, the committee considered House Bill 2143, a technical change to Public Safety Personnel Retirement System law that would limit the 5% ownership cap to publicly traded corporations. PSPRS representatives said the change would reduce compliance costs and avoid unnecessary workarounds while maintaining existing investment safeguards and diversification rules. Members discussed that ASRS does not have the same cap and that PSPRS already has broader limits on concentration risk. The bill was presented as an administrative cleanup measure, and discussion focused on clarifying that it would not increase investment risk.