Transcript Highlights:

• We only have one set of lenders and one set of credit analysts.
• The diversity of credits is substantial.
• It allows us to have one unified rating tool for all of our credits.
• It allows us to have one unified rating tool for all of our credits.
• Our credit team currently uses this process in underwriting.

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• Chairman, I noticed that you had some audit findings, and one of the significant findings had to do with
• and $1.1 million for the Be Well Memorandum of Understanding, $73,000 for the continuing education audit
• the continued development of the Vaccine Purchasing Act application, $73,000 for that independent audit
• And $90,000 for the Title Program for the transportation to do their plan inspection and escrow audits
• Okay, they passed their audit; they're now eligible for federal reimbursement.

Transcript Highlights:

• uh additionally this bill uh has credit uh additionally this bill uh has kind<00:33:10.159><c> of</c
• or other contact course of a labor audit or other contact from<05:08:09.520><c> an</c><05:08:09.638>
• </c><05:11:30.320><c> um</c><05:11:30.520><c> and</c> or in the course of a of an audit um and or in
• the course of a of an audit um and issues<05:11:31.240><c> related</c><05:11:31.600><c> to</c><05:11:
• or something that they might do or audit or something that they might do or something<05:12:12.080><

Committee: House Labor, Industrial and Rehabilitative Services

Transcript Highlights:

• Immigrant, low-income, and language-isolated business owners are especially likely to face credit access
• And it aligns BID audit requirements with the public reporting standards for Massachusetts nonprofit
• And then also the audit requirements, this is really just for small BIDs because larger BIDs, you know
• , have to do kind of annual audits, but for smaller BIDs that have, you know, less than a $150,000 budget
• They don't have to go through hiring a professional auditing firm, which can be very expensive and take

Committee: Joint Joint Committee on Community Development and Small Businesses

Summary: The Joint Committee on Community Development and Small Business held its second hearing of the session, with Chairs Gómez and Vargas opening by emphasizing the committee’s focus on equity, small business growth, and support for communities that have historically been overlooked. Several members noted the historic nature of having two Latino chairs. The hearing covered a package of bills centered on access to capital, transparency in state assistance, commercial tenant protections, downtown revitalization, and business improvement district administration. Testimony was largely supportive of bills aimed at helping micro-businesses, small businesses, and disadvantaged entrepreneurs. Beckma, the Asian Business Empowerment Council, a minority- and woman-owned business owner, and a worker-owned Springfield business all backed measures including S. 179 and H. 312/S. 184, which would prioritize capital assistance and require reporting on where state business aid goes. Witnesses said transparency, upfront payments on state contracts, and better data collection could help businesses that struggle with delayed reimbursements, limited reserves, and difficulty accessing traditional financing. The Metropolitan Area Planning Council supported S. 173, which would dedicate a portion of sales tax revenue to a downtown vitality fund for district management, cultural districts, and downtown infrastructure, and said the bill could help sustain downtowns and prevent cultural displacement. There was also testimony on H. 306, a commercial tenant first right of refusal bill, with Beckma supporting it as a way to help small tenants stay in their locations, while the Greater Boston Real Estate Board opposed it, arguing it would add cost, delay, uncertainty, and could reduce property values and the commercial tax base. The board supported H. 305, a housing bill that would expand by-right multifamily and open-space residential development while preserving local zoning protections. Andre Leroux of MassINC also supported S. 173 and H. 299, the latter proposing longer BID renewal periods and audit requirements aligned with nonprofit standards. No votes were taken; the hearing concluded after public testimony and questions, with the chair closing testimony.

Transcript Highlights:

• This is noteworthy: all state agencies other than TRS calculate annual leave as service credit, which
• I will be adding the floor amendment that directs the state auditor to audit TRS and report on all agency
• amendment that directs the state auditor amendment that directs the state auditor to<00:16:05.800><c> audit
• 06.959><c> report</c><00:16:07.839><c> on</c><00:16:08.120><c> all</c><00:16:08.480><c> agency</c> to audit
• TRS and report on all agency to audit TRS and report on all agency sick<00:16:09.360><c> day</c><00:

Summary: The Senate State and Local Government Committee met and first took up Senate Bill 193, described as a simple measure to restore a wallet card for jailers to carry when outside the jail. The chair noted the fiscal impact was essentially zero, there were no questions, and the committee voted to pass the bill 9-0. The committee then heard Senate Bill 9, a proposal focused on the Teachers’ Retirement System (TRS). The sponsor argued TRS remains underfunded despite large state contributions, cited rising unfunded liability and negative cash flow, and said the bill is intended to standardize and limit what sick leave, personal leave, and annual leave can count toward retirement calculations. The bill would generally cap TRS retirement credit at 10 sick days and 2 personal days per year, prevent annual leave from being rolled into sick leave, require more uniform reporting and oversight from participating districts and agencies, and shift costs to districts that offer benefits beyond TRS limits. The sponsor also said the bill would add 30 maternity leave days, allow voluntary supplemental contributions for Tier Four teachers, and include a floor amendment directing the state auditor to audit TRS and report on agency leave policies. During the presentation, the sponsor emphasized fairness, transparency, and accountability, and used a hypothetical high-salary administrator to illustrate how leave payouts can increase retirement benefits and create additional unfunded liability. Senator Mills thanked the sponsor and said members had been working to understand the issue, but no committee action on Senate Bill 9 was completed in the portion provided.

Transcript Highlights:

• Behavioral Health Services in State Prisons Audit. Okay, go ahead. Thank you.
• So we broke them into the two audits that you see here.
• With that and in direct response to this audit, we've taken several key actions.
• And, to my knowledge, our audit didn't interview providers as to why it is inaccurate.
• And we've been responsive as much as we can to legislative audits as well.

Committee: Joint Health and Human Services Interim Committee

Transcript Highlights:

• order of $20,000 to $25,000 per audit.
• If you look at the credit and you provide the same credit for both of them, it actually ends up costing
• This credit is $1.40.
• This credit is $1.40.
• , specifically the Earned Income Tax Credit and the Food Excise Tax Credit.

Bills: HCR93 , HCR14 , HR85

Committee: House Finance

Transcript Highlights:

• this year and and you know folks credit this year and and you know folks on<01:02:28.039><c> website
• So I think the last slide I have is, there's a new corporate franchise tax pass-through audit.
• </c><01:14:54.719><c> un</c> Franchise Tax passed through audit un Franchise Tax passed through audit
• I know that corporate audit, you're out there, right? I got it.
• </c> started also the legislative audit started also the legislative audit commission<01:42:49.719><c

Committee: Senate State and Local Government

Transcript Highlights:

• After they finish our program, they come out with 15 hours of master's credit.
• We're all audited by many different organizations, from independent audits and financial audits to USDA
• They audit us as well.
• We're all audited by many different organizations from, we all have independent audits, financial audits
• They audit us as well.

Committee: House Appropriations

Summary: The committee heard public testimony on several budget requests tied to health and human services. Louisiana Children’s Advocacy Centers asked for continued support and a supplemental appropriation of $1.173 million for infrastructure and standardization, explaining that the money would expand use of the Guardify digital evidence system, improve chain of custody, and reduce reliance on DVDs. Baton Rouge and statewide CAC leaders said prior funding helped eliminate a therapy wait list and speed services for abused children. Members asked detailed questions about the digital system, MDT coordination, and how the request related to SB 237, which would strengthen multidisciplinary review of child abuse cases. The Alzheimer’s Association sought $824,000 to sustain the dementia care specialist program, saying it helps families navigate services, keep loved ones at home longer, and reduce Medicaid costs. AARP and the Live at Home Coalition also testified for 750 additional Community Choice waiver slots at a state cost of $3.3 million, arguing that home- and community-based care is cheaper than nursing homes and that the current wait list is more than 11,000 people. Legislators discussed the size of the need, the state’s long-term care spending mix, and whether more support should go to family caregivers and community-based options. Testimony also focused on disability support services, substance use treatment, and developmental disability provider rates. A parent and direct support worker described the Children’s Choice waiver’s 20-hour cap and low pay, saying it makes it hard to retain caregivers and meet the needs of medically fragile children. Odyssey House and O’Brien House asked for higher Medicaid reimbursement rates under ASAM 4, warned that removal of room-and-board payments and weak Medicaid eligibility pathways are reducing access, and called for more oversight of sober living homes; members questioned outcomes data, length of stay, and links to homelessness. Finally, the Arc of Louisiana said the LDH rate study confirmed underfunding and supported a $53.6 million increase in state general funds, with local ARC leaders describing the services they provide and the need for higher direct support professional wages.

Transcript Highlights:

• And remember, when the regulator steps in, they do an audit of us, and we pay for the audit, so they.
• When the regulator steps in, they do an audit of us, and we pay for the audit.
• So the audit can cost in the millions of dollars.
• It has to be measurable, and we're talking about the audit compliance. It does that as well.
• And when we're talking about the audit compliance, it does that as well.

Committee: House House Appropriations Committee of Reference

Summary: The committee first took up a discussion-only strike-everything amendment to HB 2211, which would make it unprofessional conduct for certain health care providers to submit offers in independent dispute resolution above 300% of Medicare or the qualified payment amount. The chair said he was not ready to move the bill because more stakeholder meetings were needed. Testimony split between insurers, who said a small number of providers were abusing the No Surprises Act and driving up costs, and provider representatives, who argued the proposal would improperly cap rates, relied on opaque insurer-set QPAs, and could threaten licensure in a billing dispute. No vote was taken on HB 2211. The committee then considered HB 4028 on accessory dwelling units. The bill would remove the 1,000-square-foot cap, change setback rules, bar municipalities from requiring an administrative use permit and certain elevation criteria, and extend the deadline for cities to adopt ADU regulations. The sponsor argued it would give homeowners more flexibility and help address housing affordability, while cities, neighborhood groups, and residents warned it would allow oversized ADUs, reduce local control, create density and safety concerns, and invite investor-driven development. After extensive debate, the committee voted 8-9 with one present, and HB 4028 failed. Next, the committee heard HB 2620, as amended, which appropriates $300,000 annually for five years from the General Fund to the Department of Veterans’ Services for grants to emergency shelters. An amendment removed age and non-congregate-setting conditions for eligibility. The sponsor and a shelter provider said the funding would help shelters better serve homeless veterans and connect them to services. The committee adopted the amendment and then passed HB 2620 on a 17-0 vote with one member not voting. The committee then considered HB 2960, as amended, which creates a veterans specialty court grant program and a dedicated fund to support local veterans treatment courts. An amendment shifted administration of the fund to the Office of the Courts and allowed support for expansion of existing programs. The sponsor, a Lake Havasu judge, and a veteran graduate testified that veterans courts reduce recidivism and save lives by linking veterans to treatment and support. The bill was still being taken up when the transcript ended, with testimony continuing from supporters including a veterans shelter founder.

Transcript Highlights:

• Members, currently, cities are required to conduct yearly audits.
• You get credit from the TSI - Texas Success Initiative High School program, you get credit.
• Dual credit. You get credit for CCMR. Correct.
• This bill will analyze the audit process. I move passage.
• And that affordability is going to be verified through an audit.

Bills: HJR175 , HJR88 , HB21 , HB49 , HB216 , HB346 , HB573 , HB565 , HB954 , HB1953 , HB2686 , HB1441 , HB2734 , HB1650 , HB3161 , HB2876 , HB3185 , HB3388 , HB2761 , HB3233 , HB 1186 , HB1534 , HB5506 , HB5129 , HB3619 , HB778 , HB2867 , HB3221 , HB3672 , HB2434 , HB4903 , HB3687 , HB3675 , HB4609 , HB4582 , HB4921 , HB3866 , HB3901 , HB4534 , HB2446 , HB3984 , HB700 , HB4012 , HB4491 , HB4088 , HB229 , HB4234 , HB722 , HB4136 , HB4105 , HB4413 , HB170 , HB551 , HB2858 , HB3053 , HB3142 , HB3180 , HB3722 , HB2200 , HB1794 , HB1784 , HB1581 , HB2530 , HB4308 , HB1896 , HB2974 , HB3359 , HB4580 , HB2458 , HB2215 , HB3332 , HB2278 , HB3015 , HB3151 , HB1368 , HCR9 , HCR40 , HB5138 , SB17 , HB4944 , HB2284 , HB3421 , SB1569 , SB2420 , SB1968 , SB2351 , SB2544 , SB1490 , SB1349 , SB1568 , SB2776 , HB3531 , HB2149 , HB4327 , HB3158 , HB3717 , HB4520 , SB888 , SB552 , HB3138 , HB3704 , HB2921 , HB4853 , HB4506 , HB3892 , HJR161 , HJR175 , HJR88 , HB1937 , HB3334 , HB5444 , HB5137 , HB361 , HB321 , HB5447 , HB464 , HB678 , HB2294 , HB4172 , HB3225 , HB1769 , HB5394 , HB1837 , HB1787 , HB2271 , HB2440 , HB5134 , HB5149 , HB2151 , HB2073 , HB2186 , HB2025 , HB1936 , HB1777 , HB1663 , HB 1306 , HB 1290 , HB1527 , HB4802 , HB3462 , HB2963 , HB2462 , HB2560 , HB644 , HB2725 , HB2621 , HB2588 , HB1443 , HB1403 , HB3032 , HB1557 , HB1664 , HB2811 , HB2088 , HB2598 , HB3062 , HB3134 , HB3940 , HB4027 , HB4097 , HB4862 , HB4170 , HB4157 , HB4205 , HB4279 , HB4377 , HB4838 , HB5424 , HB5294 , HB4870 , HB4763 , HB5639 , HB4112 , HB2275 , HB1677 , HB5014 , HB3848 , HB3797 , HB3727 , HB3709 , HB3177 , HB3057 , HB4176 , HB4202 , HB2180 , HB3528 , HB3658 , HB21 , HB49 , HB216 , HB346 , HB573 , HB565 , HB954 , HB1953 , HB2686 , HB1441 , HB2734 , HB1650 , HB3161 , HB2876 , HB3185 , HB3388 , HB2761 , HB3233 , HB 1186 , HB1534 , HB5506 , HB5129 , HB3619 , HB778 , HB2867 , HB3221 , HB3672 , HB2434 , HB4903 , HB3687 , HB3675 , HB4609 , HB4582 , HB4921 , HB3866 , HB3901 , HB4534 , HB2446 , HB3984 , HB700 , HB4012 , HB4491 , HB4088 , HB229 , HB4234 , HB722 , HB4136 , HB4105 , HB4413 , HB170 , HB551 , HB2858 , HB3053 , HB3142 , HB3180 , HB3722 , HB2200 , HB1794 , HB1784 , HB1581 , HB2530 , HB4308 , HB1896 , HB2974 , HB3359 , HB4580 , HB2458 , HB2215 , HB3332 , HB2278 , HB3015 , HB3151 , HB1368 , HCR76 , HCR127 , HCR9 , HCR40

Transcript Highlights:

• Audits counties and states have audits. Audits counties and states have audits.
• But you're bringing audits, which I don't have a problem audits, which I don't have a problem audits,
• So now we want to audit and I again I support the audit. I support it. again I support the audit.
• audit, but the audit, it's not audit, it's not audit, it's not substantive.
• I am for an audit. I just don't I am for an audit. I just don't I am for an audit.

Transcript Highlights:

• The credit may be also in subdivision 9.
• The credit may be also in subdivision 9.
• credit against um<00:17:20.240><c> the</c><00:17:20.400><c> Minnesota</c><00:17:20.959><c> tax.
• </c><01:47:10.239><c> function</c> they did discuss um the audit function they did discuss um the audit
• </c><01:48:01.679><c> function</c> accountable through the audit function accountable through the audit

Committee: Senate Taxes

Transcript Highlights:

• I just want to also point out that this bill complements the household independent care tax credit.
• Um, research shows that caregiver tax credits help them stay afloat.
• So, this covers those care tax credit.
• </c><00:31:57.000><c> Uh</c><00:31:57.200><c> really</c> credits help them stay afloat.
• Uh really credits help them stay afloat.

Committee: Senate Health and Human Services

Summary: The Health and Human Services committee hearing opened with notice that the meeting was being streamed and could reconvene later if technical problems forced an abrupt end. The chair also announced a one-minute testimony limit and proceeded through several bills, taking mostly written and oral support testimony and asking limited questions. No votes were taken in the portion provided. HB 1626, relating to youth penalties, drew strong support from the Office of Hawaiian Affairs, youth advocates, the ACLU, the Department of Education, and others. Testifiers said financial sanctions on youth are ineffective, disproportionately burden Native Hawaiian youth, and function as poverty penalties; they urged replacing fines with community service, restorative practices, and ʻāina-based programs, and eliminating uncollectible legacy debt. The chair moved on after no member questions. HB 1643, relating to pharmacy, was discussed with support from the Hawaii Pharmacists Association, Kaiser, the Board of Pharmacy, independent pharmacies, and PBM representatives. Testimony focused on amendment language, audit procedures, HIPAA concerns, and the need for flexibility for small island pharmacies. HB 1668, relating to Medicaid, received broad support from disability advocates and the Department of Human Services; witnesses said CMS had already approved the underlying state plan amendment removing income and asset limits for certain workers with disabilities, but they wanted the protection codified in law to preserve it long term. The chair asked whether codification was necessary and was told it would not be harmful and would help ensure continuity if federal policy changed. The committee then heard HB 1550 on drug paraphernalia and syringe access, with support from Shipta and the Department of Health; testimony emphasized preserving flexibility for the statewide syringe access program to respond to emerging drugs like xylazine. HB 1974, relating to health, was presented as a planning measure for hearing loss; testifiers said Hawaii lacks a comprehensive hearing-loss plan and that the bill would fund a state planning process, not direct services. HB 1858 on vital statistics drew support from clinicians and medical organizations, who said better data on spontaneous fetal deaths is needed and that the term used in the bill is standard medical and CDC terminology. HB 1871 and HB 1966 also received support, with HB 1966’s EMS special fund prompting discussion about the cigarette-tax revenue source; the chair questioned the nexus to EMS, and the Department of Health said the revenue currently funds the special fund and there is no alternative funding stream.

Transcript Highlights:

• It also includes B&O and PUT tax credits for the sale and purchase of such fuel.
• The credit increases by 2 cents per gallon for each additional 1-cent reduction in emissions beyond 50%
• The bill also provides that producers and users of alternative jet fuel may claim the tax credits for
• a period of 10 years, starting from the date on which the business first claimed a tax credit.
• of the Legislature that completes performance audits assigned to it through legislation.

Summary: The committee first suspended the five-day notice rule and then heard House Bill 2521 on firearm background check fees. Staff explained that the bill would remove the $18 fee cap and allow Washington State Patrol to set fees based on actual program costs, which could be about $33 to $35 per check. Supporters said the change was needed to keep the background check system operating and avoid delays and layoffs; opponents argued it would burden lawful gun owners and amount to an unconstitutional tax or barrier to a constitutional right. No vote was taken in the hearing. Members then heard Substitute House Bill 2475 on language-accessible public programs, which would direct the Office of Equity to develop uniform language-access guidelines, address interpreter and translator shortages, and require agency implementation reporting. Testimony was strongly supportive, emphasizing the need for consistent access for limited-English-proficient residents and the benefits for schools, families, and state services. The committee also heard Second Substitute House Bill 2479 on wage recovery, which would create a wage recovery fund to provide partial advance payments to low-wage workers with meritorious unpaid wage claims and adjust wage penalty provisions. Employers, labor advocates, and legal services representatives largely supported the bill as a bipartisan, worker-protection measure funded by penalties rather than the general fund. The committee next took up Engrossed Third Substitute House Bill 1960 on renewable energy tax incentives, which would replace existing property tax and excise tax provisions with a new state and local renewable energy excise tax structure and related grant programs for local governments and tribes. Counties, utilities, developers, and tribal representatives generally supported the bill’s goal of stabilizing tax treatment for renewable projects, though several witnesses said they wanted amendments to address rates, timing, and late-stage project impacts. The committee also heard Substitute Senate Bill 5932 on alternative jet fuel incentives, which would change the timing and duration of existing tax preferences; supporters said it would provide certainty for emerging sustainable aviation fuel projects, while one refinery sought clarification and a broader county threshold. Later, the committee heard Engrossed Substitute House Bill 2238 on statewide food security, directing the Department of Agriculture to monitor food system performance and develop a statewide food security strategy. Agricultural groups, grocers, anti-hunger advocates, and farmers supported the bill as a coordination effort to improve food access, affordability, and supply chain resilience. The committee then heard Engrossed Second Substitute House Bill 1903, which would create a statewide low-income energy assistance program through the Department of Commerce; supporters said it would address growing unmet need and complement existing utility programs, while opponents said it did not address the root causes of rising energy costs. Finally, the committee heard Engrossed Second Substitute House Bill 2416 on waste-to-energy facilities under the Climate Commitment Act and Engrossed Second Substitute House Bill 2515 on large energy-use facilities (data centers), both of which drew mixed testimony centered on balancing emissions, ratepayer impacts, reliability, and environmental or tribal concerns. No final votes were taken in the hearing.

Transcript Highlights:

• Absent any legislative intervention, however, that suite of supplementary audit flexibilities will be
• The monies that we are auditing here do flow through the county general fund, and they are limited to
• “It varies wildly, and the last figure I saw was actually in the grand jury audit brought forward by
• “Yeah, I read that audit.
• that 2016 audit?”

Committee: Senate Local Government

Summary: The Senate Committee on Local Government met to hear a long agenda of local government, housing, labor, and transparency bills. The committee first adopted the consent calendar for SB 1187 and SB 1388, then heard SB 983, which would authorize the Port of San Diego to use job order contracting for repairs and repetitive maintenance work. Supporters said the bill would speed emergency and small repairs and reduce costs, while opponents raised concerns about construction definitions and project labor agreement language. The bill was ultimately moved forward on a 2-2 vote after discussion of amendments and labor negotiations, and later the committee’s final roll call showed it passing out on a 5-2 vote. The committee also heard SB 1256, aimed at limiting duplicative litigation over a San Diego County housing project, and SB 992, which would make permanent and expand a small special-district audit flexibility by raising the revenue threshold from $150,000 to $250,000. SB 1256 drew support from the author and project counsel, who argued the project had already been litigated and was delaying needed housing, while opponents said the bill would interfere with wildfire and subdivision-map review. SB 992 had support from county auditors and special districts, with no opposition, and was approved 5-0. SB 1115, addressing governance failures at the Tulare County Public Cemetery District by allowing county supervisors to remove an individual trustee for cause, also passed unanimously after testimony describing serious dysfunction and opposition from the California Special Districts Association. The committee then took up SB 1193, which would impose transparency and approval requirements on Alameda County discretionary funding to nonprofits and other entities. The author and supporters described the bill as a response to grand jury findings and alleged conflicts of interest, while Alameda County argued its current process is already transparent and that the bill would add burdens and could harm services. After amendments and discussion, the bill passed 5-0. SB 1383, a density bonus law bill clarifying that local labor standards cannot be waived through density bonus concessions, was supported by labor groups and moved forward despite no opposition, with the final roll call showing it passing out 5-1. SB 1361, intended to prevent local governments from undermining transit projects because of SB 79 density concerns, also passed after support from L.A. Metro and labor and no formal opposition, with the final vote recorded as 5-2. The committee later resumed to hear SB 1272, the CASH Act, which would limit certain sanctions on homeowners for prior unpermitted work by previous owners; the transcript cuts off before that bill’s full testimony and vote.

Transcript Highlights:

• The law is silent as it relates to public mortgages, banks, credit unions, and mortgage companies, so
• Mostly what people are doing is using these, if you look at your page, there's two like credit cards
• It's in these apps and in these credit cards where it's held.
• There's been a lot of talk about the tax credit component of this.
• There's been a lot of talk about the tax credit component of this.

Summary: The committee first heard testimony on House Bill 437, which would change New Hampshire law on undischarged mortgages by creating a shorter period after which certain old mortgages would be treated as unenforceable. Prime sponsor Representative Bill Boyd said the bill was developed with input from bankers, lawyers, realtors, the Attorney General’s office, and the Banking Department, and he noted a drafting correction needed on line 18. He explained that the proposal would replace current law with a new framework modeled partly on Massachusetts, including a five-year expiration after a stated maturity date and a 35-year period for mortgages without an expiration date. Supporters said the bill would help clear obsolete title defects, reduce costly quiet-title litigation, and make real estate transactions easier for consumers, attorneys, and conveyancers. Representative Mary Hakken-Phillips, Susan Cole of the New Hampshire Association of Realtors, and Michelle Coffin all testified in support, describing the bill as a consumer protection measure. They said undischarged or improperly discharged mortgages often surface during title searches, causing delays, legal expenses, and failed or delayed closings. Coffin and Hakken-Phillips emphasized that many of these cases involve old, effectively obsolete mortgages and that the current process often requires expensive court action even when no one contests the title. Cole described a recent transaction in which a title defect caused a buyer to walk away and later restart the financing process, creating costs for both buyer and seller. A committee member asked about notice to mortgage holders; the response was that the lender bears responsibility for recording and extending the mortgage, and that due process rights would remain if a lender later contested the discharge. Ryan Hill of the New Hampshire Bankers Association said the banking industry had reviewed the bill and was generally comfortable with it, while requesting a delayed effective date so members would have time to adjust their recording practices. He said the bill’s January 1, 2028 effective date reflected that request. After closing the hearing on HB 437, the committee opened a hearing on House Bill 721, the Gold and Silver Legal Tender Act. Representative Juliet Harvey-Bolia introduced it as a bipartisan economic justice bill intended to recognize gold and silver as legal tender, protect against inflation, and address concerns about trust, taxes, and government taking. She argued that gold is a stable store of value and discussed tax treatment in neighboring states, federal history, and digital gold platforms. The hearing on HB 721 was still in progress when the transcript ended, with the chair limiting questions because of time.

Transcript Highlights:

• We at Post Audit got into this months ago because of the concerns of committee members and outside sources
• I do also want to make it clear there are times people may not understand the role of the Post Audit
• their behalf, and be clear about the Commonwealth reconciliation and oversight costs, i.e., outside audit
• Utilize audit clauses that define clear audit and investigatory rights.
• I know that a lot of times, third parties come in and do audits and stuff annually with a quasi, you

Committee: Senate Senate Committee on Post Audit and Oversight

Transcript Highlights:

• proposes a practical and balanced accountability program by subjecting two school districts to a forensic audit
• Importantly, this credit is applied after any other applicable reductions under Chapter 49.
• The concept's not new; Texas already offers businesses ...a 1.75% credit for early sales tax payments
• Under House Bill 3, school districts also received a credit for early recapture payments.
• In the last two years, reinstating an optional 4% early payment credit for School districts that pay

Bills: HB 123 , HB5606 , HB549 , HB2757 , HB4359 , HB5381 , HB1939 , HB123

Committees: Senate Education , Senate Education K-16

Transcript Highlights:

• We recently went through a statutorily required State Auditor's Office audit.
• That audit acknowledged significant improvements and progress on issues identified in previous Sunset
• The audit found that four had been fully implemented, one had been substantially implemented, and the
• remaining four recommendations were ongoing at the time of the audit.
• on the horse industry escrow account, with details on how the agency has addressed the audit findings

Bills: SB1 , SB 1

Committee: Senate Finance