Video & Transcript Research : 'IRS'
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WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Sep 16th, 2025
Select Committee on Pension Policy
Transcript Highlights:
- That's why we submitted a private letter ruling from the IRS, and I mentioned this at the last two meetings
- And that's so relevant to 5085 because, under that PLR, which was considered by the IRS, there was an
- And the IRS found that that did not meet standards under IRS regulations to pass muster, largely because
- to the committee on 5085, a pension fund that tried to do the exact same thing, and it did not pass IRS
- And it had to do with the IRS considerations for what is being considered to be done to the pensions.
Summary:
The committee approved the July minutes and then received an informational presentation from the Office of the State Actuary on the financial condition of the state retirement systems. The actuary reported that employer contribution rates are generally declining, helped by strong investment returns and reduced funding for PERS 1 and TERS 1, while funded ratios have continued to improve; on a combined basis the plans were reported at 100% funded in 2024, with open plans above 95% and legacy plans varying by system. The presentation also reviewed projected rates and funded ratios under current assumptions, noted that pension costs are taking a smaller share of the state general fund, and discussed risks from investment volatility, policy changes, and demographic experience. Committee members asked about savings from lower rates, deferred asset smoothing, and how Washington compares with other states.
The committee then considered the state actuary’s recommendation on long-term economic assumptions and adopted all four recommendations by roll call votes: inflation at 3.0%, general salary growth at 3.5%, membership growth for Plan 1 funding at 1.0%, and investment rate of return at 7.25%. The actuaries explained that the inflation and salary growth increases were driven largely by higher long-term inflation expectations, while the investment return recommendation matched the current statutory assumption. Members discussed the timing of the Pension Funding Council’s decision, the effect of tariffs and inflation uncertainty, and how assumption changes would affect future contribution rates and budgets, particularly for open plans.
Staff then gave an update on the LEOFF 1 study, explaining the difference between being “ahead of schedule” and truly overfunded, and summarizing responses received from DRS, the State Treasurer, and the State Investment Board on the merger and restatement proposals. DRS said both bills could be administered, though the merger bill’s COLA banking provision would be challenging until its new system is ready; the Treasurer urged caution, especially about the restatement bill and the use of one-time funds; and the Investment Board said removing assets from the trust would have some transaction costs but likely small impacts. The committee discussed whether to invite additional agencies and local government groups to testify, and staff said more responses, including from Ice Miller and the State Actuary, were expected for the October meeting.
Finally, the committee heard a briefing on PERS 1/TERS 1 COLA policy and related bills from the last session. Staff reviewed the committee’s prior ongoing COLA recommendation, the SCPP-endorsed bills that would have created a one-time 3% COLA followed by an ongoing COLA, the Senate merger bill, and a separate ad hoc COLA bill. Public testimony largely supported Plan 1 COLAs and stable contribution rates, while several speakers urged caution about transferring LEOFF 1 surplus assets or merging legacy plans, and others raised concerns about climate risk and the pension fund’s investments. No further committee action was taken on the COLA item during this portion of the meeting.
ND
North Dakota 2026 1st Special Session
Employee Benefits Programs Committee May 7th, 2026 at 10:00 am
Employee Benefits Programs Committee
Transcript Highlights:
- We share it with both the actuarial consultant as well as our IRS tax compliance consultant.
- rule or an IRS concern or an actuarial concern.
- Whether you want to take jurisdiction and just verify that there's no issues at the IRS level would be
- They had the option not to participate, and they had their IRS folks look at it, and they determined
- I'm just wondering, since the IRS consultants weighed in on the policy requirements, do we need them
ND
North Dakota 2025-2026 Regular Session
Employee Benefits Programs Committee May 7th, 2026
Transcript Highlights:
- We share it with both the actuarial consultant as well as our IRS tax compliance consultant.
- Davidson, members of the committee, on this bill, I would agree there really doesn't seem to be an IRS
- rule or an IRS concern or an actuarial concern.
- They had their IRS folks look at it and they determined that it conflicted with certain requirements
- I'm just wondering, since the IRS consultants weighed in on the policy requirements, do we need them
Summary:
The Employee Benefits Committee met to approve prior minutes, hear presentations on state employee health insurance, compensation, leave, and related policy issues, and then recess for lunch. PERS reviewed the history and structure of the state health plan, noting the long-standing state-paid family coverage, cost-control measures, wellness incentives, the current grandfathered PPO and high-deductible options, and the effects of recent benefit mandates such as insulin caps, prosthetic coverage, medication management, prescription copay changes, and ambulance balance-billing limits. Committee members questioned the fiscal impact of adding benefits and the possible cost of moving to a non-grandfathered plan, while PERS and HRMS emphasized that health insurance remains the top-ranked employee benefit and that any major plan changes should be considered carefully. HRMS also presented compensation comparisons showing state pay generally below private-market benchmarks, discussed targeted market equity adjustments, identified ongoing recruitment and retention concerns in fields like nursing, IT, engineering, and attorneys, and reviewed leave policies, tuition reimbursement, and family leave comparisons with neighboring states. Job Service provided labor market data showing low unemployment, high labor force participation, and wage growth that still trails some neighboring markets, and OMB explained that prevailing wage requirements apply to federally funded projects under Davis-Bacon, not to ordinary state contracts.
After lunch, the committee took up the required process for health insurance mandate bills and adopted an amendment to Joint Rule 211. The amendment clarified that the deadline for submitting mandate measures is intended to allow time for all required reports, including both the cost-benefit analysis and any Employee Benefits Committee actuarial report, while leaving the existing deadline unchanged. The amendment was adopted on a roll call vote, with several members voting yes and a few no votes recorded. The committee then moved into its jurisdiction review of bill drafts, beginning with a bill that would automatically renew pre-tax dental and vision elections; members debated whether it had any actuarial or administrative impact on PERS or the state, and the chair explained that the committee’s role was only to decide whether further analysis was needed before later testimony and recommendations.
MN
Minnesota 2025-2026 Regular Session
Working Group on Omnibus Taxes Bill - 05/23/25
Minnesota Senate Floor Meeting
Transcript Highlights:
- It's one of the basic things that the IRS at the national level and the Department of Revenue at the
- It's one of the basic things that the IRS at the national level and the Department of Revenue at the
- It's one of the basic things that the IRS at the national level and the Department of Revenue at the
- It's one of the basic things that the IRS at the national level and the Department of Revenue at the
- And so right now the IRS has a direct file system.
HI
Transcript Highlights:
- particular position, and you noted in your original testimony that six months may be allowed by the IRS
- I’m just curious, given the current situation with the federal government and perhaps the IRS, do you
- has not established what they call a IRS has not established what they call a safe<00:08:34.800>
- The three positions are data privacy officer, and this is to comply with IRS requirements.
- The three positions are data privacy officer, and this is to comply with IRS requirements.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jun 16th, 2026 at 12:40 pm
Select Committee on Pension Policy
Transcript Highlights:
- just wanted to comment that although I cannot give you the legal briefing today, I believe that the IRS
- ... ...to comment that, although I cannot give you the legal briefing today, I believe that the IRS regulations
- But I don't believe that's allowed under IRS rules. Okay. Under IRS rules, okay.
OK
Oklahoma 2026 Regular Session
Appropriations and Budget REVISED- SB1074 -Strom- added Feb 17th, 2026 at 04:45 pm
Appropriations and Budget
Transcript Highlights:
- I wanted to move this to where it's tied to some type of fluctuating rate like the IRS does, and so this
- agreement or whatever where they're paying those taxes, and it's kind of the way it works with the IRS
- I've worked on since the first year I came into the legislature because I saw in a lot of cases in the IRS
Bills:
HB4421, HB4426, HB4432, HB4329, HB3551, HB3763, HB1411, HB2730, HB3465, HB3649, HB3650, HB3674, HB3941, HB3970, HB3979, HB3980, HB3981, SB1074
Keywords:
child welfare, fentanyl exposure, drug endangerment, environmental testing, safety analysis, remediation, child protection, Department of Human Services, violence prevention, HB4426, SIDE tax credit, strategic industrial development enhancement, income tax credit, economic development, tax incentive, qualified economic development expenditures, qualified initial infrastructure expenditures, industrial park, economic development zone, port authority
WA
Washington 2025-2026 Regular Session
Senate Ways & Means Dec 4th, 2025
Transcript Highlights:
- And in order to keep those tax benefits, there's a list of rules from the IRS that we have to adhere
- According to ICE Miller, both of the bills meet those relevant IRS requirements for plan qualification
- letter would be aimed at looking at the resulting plan structure and making sure that that meets the IRS
- The IRS doesn't act on hypotheticals.
- However, they noted that that could take a year or more to receive the response from the IRS.
Summary:
The Ways and Means Committee held a work session covering the state revenue outlook, caseload forecasts, wildfire costs, budget balance, tort liability, water supply, and pension policy. The Economic and Revenue Forecast Council reported modest near-term U.S. growth, no near-term Washington employment growth in 2026, continued personal income growth, and elevated inflation, with tariffs and federal policy cited as major risks. Revenue forecasts were slightly improved for the current biennium by about $105 million but down about $185 million for the next biennium. Members asked about income inequality and housing permits; staff said personal income is an aggregate measure and housing production remains below long-term needs. The Caseload Forecast Council then reported that most forecasts were unchanged or only slightly changed, but several programs increased, including Washington College Grant, Working Connections, aged/blind/disabled cash grants, nursing homes, home and community services, and developmental disabilities personal care. The largest policy-driven change was in Medicaid low-income adult caseloads, where federal H.R. 1 was projected to reduce coverage substantially through narrower eligibility, community engagement requirements, and shorter eligibility periods.
The committee also heard a wildfire funding update and a 2025 fire season review. Staff explained that the state budgets $93 million annually for suppression and uses supplemental appropriations for costs above that level, with an estimated state supplemental need of about $139 million for the current year. Department of Natural Resources officials said 2025 fire activity remained below the 10-year average in acres burned, but fires were more complex and closer to communities, contributing to higher residence loss. They described expanded use of aircraft, firefighters from other states, corrections crews, and the Arcadia 20 hand crew, and said the state did not need National Guard ground support this year. A budget preview then showed that the near general fund outlook had worsened after vetoes, lapses, and forecast changes, and that maintenance-level costs alone would leave a projected negative balance by fiscal year 2027 and about $4.3 billion by fiscal year 2029, before any policy decisions.
Jason Seams, the state risk manager, reported a sharp rise in tort claim costs, with indemnity expenses nearly doubling from fiscal year 2023 to 2025 and DCYF accounting for most of the increase. He said the state self-insurance liability account has run deficits for four straight biennia and is now facing nearly $600 million in deficits, driven largely by a surge in DCYF claims, especially juvenile rehabilitation and long-running sex abuse cases. Members asked about the role of old claims, comparisons with other states, excess insurance, and whether more Attorney General staff could reduce special assistant attorney general costs. The committee then shifted to water policy, hearing from tribal leaders, Ecology, and the Washington Water Trust. Tribal witnesses emphasized overappropriation, declining flows, climate impacts, and the need for legislative oversight and tribal participation in water policy. Ecology described major projects in the Odessa sub-area, Yakima Basin, and Dungeness, along with the need for storage, recharge, conservation, and policy changes to support water supply development. The Washington Water Trust argued that climate change is reducing summer flows and that the state needs more funding, enforcement, and long-term commitment to restore instream flows. The final item was a pension update on LEOFF 1 surplus assets; staff reviewed two 2025 bills that would have merged or restructured the plan and used surplus assets, but neither passed, and instead the budget directed the Select Committee on Pension Policy to study the issue and report back.
TX
Transcript Highlights:
- Senator Hughes' answer was that the IRS is going to have to answer that, and correct me, Senator Hughes
- , if I mischaracterized this, but he answered that the IRS...
- Well, Senator, the IRS is going to answer that question, and as you know, we don't have authority in
- We will make the case that that's what the IRS should do, just like, Senator, if you put...
- That's the way the IRS kind of deals with it today.
Bills:
SB801, SB867, SB2717, SB2919, HJR7, HB4, HB14, HB27, HB42, HB46, HB100, HB111, HB112, HB121, HB126, HB146, HB186, HB223, HB229, HB322, HB367, HB500, HB521, HB640, HB705, HB783, HB1052, HB1056, HB1105, HB1106, HB1178, HB1211, HB1234, HB1306, HB1403, HB1449, HB1506, HB1661, HB1690, HB1871, HB1960, HB2017, HB2078, HB2128, HB2240, HB2243, HB2348, HB2407, HB2512, HB2820, HB2844, HB2853, HB2854, HB2885, HB3000, HB3005, HB3053, HB3057, HB3181, HB3333, HB3372, HB3425, HB3441, HB3516, HB3749, HB3783, HB3812, HB3848, HB3923, HB3963, HB4070, HB4134, HB4157, HB4158, HB4211, HB4449, HB4623, HB4638, HB4687, HB4690, HB4748, HB4749, HB4795, HB4848, HB5093, HB5115, HB5129, HB5138, HB5294, HB5616, HB5629, HB5646, HB5661, HB5672, HB5674, HB5699, HCR40, SJR5, SJR27, SJR59, SB4, SB6, SB8, SB9, SB10, SB12, SB22, SB23, SB25, SB27, SB34, SB36, SB37, SB38, SB40, SB57, SB140, SB261, SB293, SB441, SB447, SB467, SB512, SB650, SB777, SB785, SB924, SB1188, SB1281, SB1318, SB1333, SB1398, SB1448, SB1566, SB1579, SB1621, SB1723, SB1838, SB1862, SB2167, SB2405, SB2406, SB2407, SB2878, SB3059, SB3070, SB1, SB17, SB21, SB260, SB379, SB509, SB1198, SB1405, SB1506, SB1637, SB1833, SB2155, SB2308, SB2601, SB2778, HB300, HB2011, HB2525, HB5246, SJR36, SJR50, SJR63, SCR12, SCR39, SB2023, SB62, SB666, SB847, SB284, SB854, SB810, SB1505, SB583, SB507, SB1434, SB1772, SB2016, SB1122, SB731, SB397, SB508, SB1436, SB287, SB1882, SB393, SB1791, SB209, SB2429, SB1085, SB1975, SB2717, SB1262, SB636, SB2056, SB884, SB1200, SB1845, SB2458, SB801, SB3014, SB3013, SB758, SB2797, SB2076, SB2876, SB1640, SB1449, SB1181, SB1234, SB2926, SB2841, SB1528, SB1854, SB317, SB1250, SB2082, SB1237, SB2819, SB629, SB2608, SB1602, SB2009, SB867, SB640, SB1698, SB2680, SB913, SB1071, SB1086, SB1087, SB1483, SB1444, SB1553, SB1556, SB1703, SB2133, SB2297, SB2298, SB2622, SB2955, SB2334, SB1367, SB2044, SB2363, SB2565, SB1888, SB3036, SB3057, SB3043, SB3063, SB3035, SB203, SB2688, SB2522, SB2459, SB2655, SB2251, SB1884, SB2928, SB2566, SB2549, SB2553, SB2919, SB1944, SB1232, SB1798, SB2603, SB2607, SB2683, SB1319, SB3045, SB3071, HJR7, HB5115, HB3053, HB1403, HB223, HB748, HB5652, HB3395, HB180, HB1306, HB322, HB126, HB5650, HB4894, HB1629, HB5698, HB3171, HB2694, HB5664, HB4690, HB4464, HB3623, HB2520, HB2213, HB252, HB146, HB5596, HB3619, HB5320, HB5651, HB5670, HB5665, HB5437, HB5679, HB5699, HB5661, HB5662, HB5654, HB5672, HB5656, HB3812, HB3057, HB2035, HB721, HB346, HB2512, HB5695, HB5694, HB5674, HB3185, HB2348, HB1871, HB1135, HB101, HB5666, HB5677, HB5682, HB5658, HB4144, HB3642, HB3815, HB2686, HB2012, HB1960, HB227, HB654, HB1690, HB2128, HB4158, HB4630, HB1523, HB2078, HB1973, HB3333, HB3697, HB3546, HB3225, HB3181, HB2820, HB1506, HB1234, HB640, HB521, HB229, HB186, HB119, HB4795, HB4466, HB3749, HB1106, HB4, HB4170, HB3909, HB4081, HB4145, HB4157, HB4285, HB4463, HB4995, HB5138, HB5624, HB1449, HB2598, HB3629, HB4361, HB824, HB1868, HB4848, HB2243, HB40, HB117, HB3686, HB500, HB3793, HB112, HB104, HB1056, HB42, HB3000, HB100, HB2240, HB718, HB27, HB4904, HB4202, HB2853, HB5129, HB5093, HB4765, HB4748, HB4559, HB4350, HB4214, HB3388, HB3112, HB5196, HB4211, HB3516, HB3092, HB4233, HB4687, HB705, HB1094, HB2037, HB3005, HB3848, HB1105, HB121, HB3372, HB367, HB783, HB3336, HB3441, HB4449, HB5616, HB2407, HB2854, HB3425, HB5294, HB1178, HB4623, HB14, HB3963, HB1211, HB5646, HB5629, HB3783, HB4236, HB46, HB4638, HB1052, HB4070, HB5509, HB5435, HB4134, HB3923, HB3520, HB3320, HB2517, HB2488, HB5663, HB2731, HB3073, HB2655, HB2399, HB541, HB4099, HB111, HB1532, HB3483, HB2963, HB4580, HB3748, HB713, HB632, HB426, HB4730, HB127, HB5690, HB5689, HB5655, HB3385, HB2757, HB4359, HB5381, HB20, HB123, HB549, HB5606, HB2217, HB2594, HB796, HB150, HB1057, HCR141, HCR40, HCR59, HCR76, HCR81, HCR46, HCR111, HCR83, HCR84, HJR7, HB4, HB14, HB27, HB42, HB46, HB100, HB126, HB150, HB322, HB367, HB500, HB640, HB705, HB783, HB1105, HB1178, HB1211, HB1234, HB1506, HB1690, HB1871, HB2078, HB2128, HB2240, HB2243, HB2407, HB2512, HB2853, HB2854, HB3000, HB3057, HB3181, HB3372, HB3425, HB3441, HB3749, HB3783, HB3812, HB3923, HB3963, HB4070, HB4134, HB4157, HB4211, HB4449, HB4623, HB4638, HB4687, HB4748, HB4795, HB5093, HB5129, HB5616, HB5629, HB5699, HB229, HB521, HB1056, HB1106, HB5138, SR583, SCR52, HB223, HB229, HB521, HB1056, HB1106, HB1403, HB3053, HB5115, HB5138
Keywords:
SB 801, birth certificate, birth record, certified copy, homeless, homelessness, unhoused, vital records, state registrar, local registrar, county clerk, fee waiver, identity documents, ID access, housing insecurity, shelter, transitional housing, Health and Safety Code, HHSC, Health and Human Services Commission
MN
Minnesota 2025-2026 Regular Session
Minnesota House passes HF2309, the omnibus housing policy bill 4/29/25
Minnesota House Floor Meeting
Transcript Highlights:
- we would need to provide this funding through a loan rather than a grant to ensure we're meeting the IRS
- ensure we're rather than a grant to ensure we're meeting<00:03:57.280>
the <00:03:57.519>IRS - <00:03:59.439>
We <00:03:59.680>have <00:03:59.840>a meeting the IRS rules. - We have a meeting the IRS rules.
WA
Washington 2025-2026 Regular Session
Legislative Ethics Board Jun 9th, 2026 at 09:00 am
Transcript Highlights:
- Well, the need for that money is that Anthony told me that they owed the IRS a bunch of money because
- To pay his other staff because he had to pay the IRS, or the IRS. It was one or the other.
- It was for general operations to support... ...or the IRS, it was one or the other.
- So I donated another $40,000 because they needed that money to pay the IRS.
- IRS and then they weren't going to have money for the rest of a few months for their regular staff.
Summary:
The hearing resumed on day two of the Legislative Ethics Board fact-finding matter involving Representative Tara Simmons. After opening remarks and confirmation that board members had not engaged in outside research or ex parte communications, Simmons’s counsel moved to dismiss two allegations at the close of the board staff’s case: that Simmons pressured the Administrative Office of the Courts to alter a contract in favor of her employer, and that she improperly combined a legislative proviso for AEJG with a personal donation to the organization. Board staff opposed the motion, arguing the evidence showed Simmons’s legislative and private conduct were intertwined and that the board had enough evidence to require a defense. After deliberation, the board denied the motion to dismiss and proceeded to hear defense testimony.
The first defense witness, Sharon Navas, testified that she met Simmons through advocacy work, later hired her at the Equity and Education Coalition (EEC), and maintained written employment policies intended to separate Simmons’s legislative role from her work for EEC. Navas said Simmons was never compensated for lobbying or legislative acts, that EEC paid her from unrestricted funds, and that Simmons did not work on the AEJG dashboard project or participate in the contract dispute with Anthony Powers and Chris Stanley. Navas described the proviso request and later contract issues as separate from Simmons’s legislative duties, and said she continued to pay invoices while the project was being completed.
Simmons then testified about her background, legislative career, disability accommodations, and extensive efforts to seek ethics advice before taking outside employment or pursuing provisos. She said she repeatedly consulted House ethics counsel and reviewed prior board decisions to ensure her outside work and legislative actions were separated. Simmons described her relationship with Anthony Powers, the dashboard project, the proviso process, and her understanding that the work was distinct from her legislative role. The hearing paused for lunch after part of Simmons’s direct examination, with testimony set to continue after the break.
WA
Washington 2025-2026 Regular Session
Legislative Ethics Board Jun 9th, 2026
Transcript Highlights:
- Well, the need for that money is that Anthony told me that they owed the IRS a bunch of money because
- To pay his other staff because he had to pay the IRS.
- It was for general operations to support... ...or the IRS, it was one or the other.
- So I donated another $40,000 because they needed that money to pay the IRS, or they had enough to pay
- IRS and then they weren't going to have money for the rest of a few months for their regular staff.
Summary:
The hearing resumed in the Legislative Ethics Board matter involving Tara Simmons after the board confirmed no ex parte communications had occurred overnight. Respondent’s counsel moved to dismiss two allegations at the close of the board staff’s case: that Simmons pressured the Administrative Office of the Courts to alter a contract in favor of her employer, and that she violated ethics rules by combining legislative support for AEJG with a personal donation to the organization. Board staff opposed the motion, arguing the evidence showed Simmons’s legislative and personal dealings were intertwined. After a recess for deliberation, the board denied the motion to dismiss, and the hearing moved into the defense case.
The first defense witness was Sharon Navas, executive director of the Equity and Education Coalition (EEC). Navas testified that she met Simmons in 2018, later hired her, and took steps to separate Simmons’s legislative duties from her work for EEC. She said Simmons was never paid for lobbying or legislative acts, that her compensation came from unrestricted funds, and that the organization used written ethics-compliance language and a formal scope of work. Navas also described the proviso-funded dashboard project involving Anthony Powers and Chris Stanley, testifying that Simmons was not involved in the project’s day-to-day work, did not attend the meetings about the dispute, and was not part of the alleged contract disagreement. On cross-examination, staff focused on the contract documents, the dashboard work, and whether the scope of work matched the parties’ understanding.
Tara Simmons then testified in her own defense. She described her background, legislative career, disability accommodations, and extensive efforts to seek ethics guidance from House counsel and board-related materials before taking outside employment or supporting provisos. She said she relied on prior ethics advice when separating her legislative role from outside work and when seeking provisos for AEJG and EEC. Simmons also addressed her relationship with Anthony Powers, describing it as a friendship rooted in criminal justice reform work and prior collaboration. The hearing was still in the middle of Simmons’s direct testimony when the transcript excerpt ended, with no final ruling on the merits or disposition of the allegations.
MN
Minnesota 2025 1st Special Session
House Ways and Means Committee considers agriculture finance bill, HF2446 4/21/25
Ways and Means
Transcript Highlights:
- course, if you're filing a 990, it means that you already have received tax-exempt status from the IRS
- course, if you're filing a 990, it means that you already have received tax-exempt status from the IRS
- Um, they're under the IRS code. They're required to make annual filings with the IRS.
- required to to make annual filings with required to to make annual filings with the<00:23:50.480>
IRS - the IRS. the IRS.
Keywords:
agriculture finance, broadband development, Department of Agriculture, Board of Animal Health, Agricultural Utilization Research Institute, Office of Broadband Development, food safety, food handler license, cottage food, home processed food, livestock dealer, meat packing company, milk marketer, milk marketing license, grain buyer, grain storage, beginning farmer, emerging farmer, farm down payment assistance, livestock investment grant
NM
New Mexico 2025 Regular Session
IC - New Mexico Finance Authority Oversight Aug 11th, 2025
New Mexico Finance Authority Oversight Committee
Transcript Highlights:
- They get the benefit if the IRS ever comes knocking to find out where all the bond payments went.
- You do not want to go sideways with the IRS; it's not a recommended course.
- So the federal government, the IRS will take, let's say your 30% tax bracket, they'll take 18,000 of
- As revenue to the IRS from the bondholder. Yeah, exactly.
- Between the state and the IRS in that transaction.
TX
Texas 89th Regular
Senate Committee on Business and Commerce (Part II) Feb 27th, 2025
Business & Commerce
Transcript Highlights:
- other information, including salaries of directors, officers, and key employees through Form 990 to the IRS
- And you were describing the IRS reporting requirements that apply to both Type A and Type B?
- I just did a 990 for the IRS report for a non-profit that I work with, and the...
- The reporting that they have to do to the IRS states right there that this has to be made public.
- A 501(c)(3) is already required by the IRS to go through and report a lot of this data.
Keywords:
hemp, consumable hemp, hemp-derived cannabinoids, CBD, cannabidiol, CBG, cannabigerol, delta-8, delta-9, intoxicating hemp, hemp gummies, hemp vape, edibles, cannabinoid regulation, hemp licensing, retailer registration, product registration, QR code labeling, child-resistant packaging, minor access
MN
Minnesota 2025-2026 Regular Session
House Higher Education Finance and Policy Committee 4/3/25
Higher Education Finance and Policy
Transcript Highlights:
- Their fees are lower than allowed by the IRS and represent a solid value to fund worthy projects that
- Federal and Securities the complex IRS Federal and Securities and<00:39:44.520>
Exchange <00:39 - <01:06:55.680>
ired <01:06:55.920>and <01:06:56.000>it <01:06:56.119>adds - <01:06:56.400>
two <01:06:56.680>points <01:06:57.200>of requ ir ired and it - adds two points of requ ir ired and it adds two points of two<01:06:58.119>
points <01:06:58.359
HI
Transcript Highlights:
- So the data privacy officer request is a result of the IRS requirement that we have a senior official
- We don't have anyone specifically assigned to monitor the security requirements of the IRS.
- wants this, IRS wants that.
- <00:15:13.360>
that <00:15:13.519>we yeah IRS wants this IRS wants that we yeah IRS - wants this IRS wants that we don't<00:15:13.920>
and <00:15:14.040>so <00:15:14.160>
FL
Florida 2026 Regular Session
FL House Floor Session - 2025-06-16 (7:00PM Session)
Florida House Floor Meeting
Transcript Highlights:
- Form 990 if it was required to do so by the IRS.
- And what we are clarifying is that under IRS rules, And what we are clarifying is that under IRS rules
- I think that gets at federal IRS tax treatment question.
- But because the state of Florida every year in its tax package adopts the IRS code for purposes of our
- But because the state of Florida every year in its tax package adopts the IRS code for purposes of our
Summary:
The House convened on the final day of session, observed a moment of silence for the Minnesota House Speaker Melissa Hortman and her husband, and for Representative Rosenwald’s father, then swore in and seated new members Boyles and Hodgers. The Speaker also outlined the chamber’s end-of-session priorities, including action on the budget and related conforming bills. The House then took up H.J.R. 5019, a constitutional amendment to expand Florida’s budget stabilization fund by raising the cap, requiring annual transfers, and allowing withdrawals for critical state needs. After sponsor explanations and questions about what would qualify as a critical need and how the fund might respond to possible federal funding cuts, the House adopted an amendment that added more flexibility for suspending transfers and withdrawals. The joint resolution then passed on final passage.
Members next considered HB 7031, the tax package conference report. The bill repeals the business rent tax and aviation fuel tax, delays the natural gas fuel tax, creates or extends several sales tax exemptions and holidays, and makes changes affecting property taxes, local taxes, pari-mutuel taxes, and revenue distributions. Debate focused heavily on the new permanent exemption for ammunition and hunting-related items, the elimination of recurring housing trust fund and transit-related distributions, and the shift of some funding from recurring to nonrecurring status. Supporters argued the package provides tax relief and preserves annual budget flexibility, while opponents criticized the ammunition exemption and the reductions in recurring housing and transit support. The conference report was adopted and the bill passed.
The House then passed HB 5017, which creates a debt reduction program funded by a recurring transfer from general revenue to retire state bonds early, and HB 5015, the state group insurance conforming bill, which directs DMS to develop a formulary management plan and codifies the administrative health insurance assessment. Finally, the chamber began explanation and questions on the General Appropriations Act conference report for fiscal year 2025-26, described as a $115.1 billion budget that is down from the current year and includes more than $12 billion in reserves. Subcommittee chairs summarized major budget areas, including K-12 education, health care, transportation and economic development, agriculture and natural resources, higher education, state administration, justice, and information technology, highlighting funding for school choice, Medicaid, housing, transportation infrastructure, Everglades restoration, workforce programs, cybersecurity, and technology modernization.
NH
Transcript Highlights:
- I did not uh crypto users to the IRS.
- and I received a letter from the IRS and I received a letter from the IRS saying<03:41:30.798>
- I did contest it later. taxes, the IRS has my cryptocurrency taxes, the IRS has my cryptocurrency transaction
- That was not IRS seizure of my data.
- So not records go to the IRS and so on.
MN
Minnesota 2025-2026 Regular Session
House Higher Education Finance and Policy Committee 1/23/25
Higher Education Finance and Policy
Transcript Highlights:
- I will note for the record, too, that I did look at their IRS determination letter, and they just became
- did<00:03:25.120>
look <00:03:25.400>at <00:03:25.560>their <00:03:25.840>IRS - too I did look at their IRS too I did look at their IRS determination<00:03:26.920>
letter - <00:14:20.920>
IRS record I do have the IRS IRS record I do have the IRS IRS determination - years according to the IRS years according to the IRS June<00:14:30.800>
25th <00:14:31.800
Summary:
The committee approved the January 21 minutes and then heard an overview from the University of Minnesota’s Office for Public Engagement on its community engagement awards program. Amber Cameron explained that the office supports partnerships across the university’s campuses and that nominations for the Outstanding Community Service Awards were evaluated by faculty and staff selection committees using criteria such as positive societal impact, innovation, extraordinary results, and overall application quality. She said the community partner award was based only on the nomination materials and described the award process, including that nominations could come from individuals, grassroots groups, or organizations and that the award carried a $5,000 prize.
The main discussion focused on the 2024 community partner award given to Communities United Against Police Brutality. Cameron said the nomination documented a long-standing relationship with the university through the Center for Community-Engaged Learning, including work in 130 course offerings over 24 years across 17 academic departments and participation by about 1,000 students. She cited examples from the nomination such as student research and policy work that contributed to Travis’s Law. Committee members questioned the organization’s age, its letterhead and public activism, the meaning of its relationship with the university, and whether the work was appropriate for an award. Cameron responded that the award did not require formal tax status and that her office facilitated the process rather than judging the organization’s broader views.
Members also asked for additional information on the vetting process, the courses involved, the award funding source, the ceremony, and related materials. Cameron said the awards were funded through OMN funding, that the program was being sunset and replaced with a new internal engaged-scholar awards structure, and that she would follow up on requests for documents, speaking notes, and other details. No votes were taken beyond approval of the minutes, and the committee moved on after the testimony and questions.