Transcript Highlights:

• </c> in order to stabilize the rates. in order to stabilize the rates.
• </c> spent and rate reductions occur. spent and rate reductions occur.
• </c> the regular rate. the regular rate.
• that we could pay a higher rate.
• ,</c><00:28:36.000><c> and</c> committee to look at at the rates, and committee to look at at the rates

Committee: Senate Finance

Keywords: 1191, senate, all

Transcript Highlights:

• All four scenarios do assume that toll rates will increase over time with an average escalation rate.
• higher toll rates post-completion.
• truck toll rates.
• The final toll rates will be determined by the commissions, and escalation and the rates themselves are
• As the toll rates adjust annually and Scenario 4 has that slightly lower adjustment rate, they kind of

Committee: Joint Joint Oregon-Washington Legislative Action Committee

Keywords: 904, all

Transcript Highlights:

• Returning profit to members through lower loan rates, higher savings rates, and improved financial services
• Thank you. hard processing costs, then regulating interchange rates.
• since pre-pandemic, which is what we’re paying in increased rates.
• is the most favorable rate possible.
• That works out to an effective rate of about 3%.

Keywords: 1212, all

Summary: The commission met to continue studying credit card payments, interchange fees, fraud, chargebacks, and the impact of card processing costs on small businesses, especially restaurants and retailers. Members heard extensive testimony from credit unions, retailers, restaurant owners, payment-industry representatives, and an airline trade group. Supporters of reform argued that swipe fees are a major and rising expense, that businesses are paying fees on sales tax and tips that are merely pass-through amounts, and that merchants have little negotiating power. Several restaurant and retail witnesses described thin margins, higher costs for card-not-present transactions, and chargebacks that they said usually favor cardholders and leave merchants absorbing losses and fees. Witnesses from the Cooperative Credit Union Association cautioned that state-level interchange regulation could reduce revenue used for fraud prevention, compliance, and member services, and could lead to higher rates or reduced access. Retail and restaurant representatives countered that fees have risen sharply, that statements are difficult to decipher, and that rewards programs and card-network pricing are subsidized by merchants and ultimately by all consumers. The Massachusetts Restaurant Association and independent operators urged legislation to bar fees on tax and tip portions of transactions and to allow businesses to pass along card fees if they choose, saying this would improve transparency and fairness and help keep small restaurants open. Other testimony came from the National Restaurant Association, which supported interchange reform and said modern point-of-sale systems can already separate tax and tip amounts, and from a payments-industry group that emphasized the broader economic benefits of digital payments and warned against state-by-state rules. Airlines for America opposed changes that could undermine airline credit card rewards programs. Commission members asked detailed questions about fee structures, card types, chargebacks, POS systems, and whether consumers paying cash are also affected. No votes or formal actions were taken at the meeting.

Transcript Highlights:

• </c> of the nursing facility payment rates. of the nursing facility payment rates.
• new rate methodology is approved.
• new rate methodology is approved.
• new rate methodology is approved.
• new rate methodology is approved.

Bills: HF3379

Committee: House Human Services Finance and Policy

Keywords: housing stabilization, disability services, predatory funding, provider requirements, housing accessibility, 1183, house

Transcript Highlights:

• And then for 29, the growth rates are the same, 4.6%.
• And that was primarily driven by low hiring rates.
• This goes back to birth rates. Nobody knows why birth rates have been falling.
• As we get into 2022, the Fed begins to raise interest rates and then mortgage rates essentially double
• It's muting the impacts of, you know, when we see the unemployment rate.

Keywords: 1182, all

Summary: At the April meeting of the Finance Advisory Committee, staff presented an updated state revenue forecast that was more cautious than January’s because of heightened economic uncertainty tied to the Iran conflict and broader national risks. The general fund’s available resources were revised down from $577 million in January to $378 million in the April forecast, with the lower estimate driven by reduced revenue projections while spending assumptions were unchanged. Staff said the outlook depends heavily on how long the Middle East conflict lasts and noted that a prolonged disruption could weaken the forecast further, while a quick resolution could improve conditions. George Hammond of the University of Arizona gave a broad economic overview, highlighting geopolitical risk, elevated oil and gasoline prices, sticky inflation, weak Arizona job growth, and uncertainty around federal policy, tariffs, immigration, and AI-related investment. He said Arizona’s recent job growth has been very weak and concentrated mainly in health services, while most other sectors lost jobs, and he attributed much of the slowdown to low hiring rather than layoffs. He also discussed population growth, noting that Arizona remains above the national average but is increasingly dependent on net migration as natural increase slows, and he warned that housing affordability remains strained even as Phoenix inflation has moderated. Panelists generally echoed the cautious outlook but pointed to some offsets. Liz St. Clair said Arizona’s near-term revenues could benefit from tourism tied to spring training and the Final Four, though higher fuel costs could dampen discretionary spending. Other panelists noted that the federal policy environment, tariffs, and immigration changes are likely to restrain growth, while productivity gains, especially from technology and AI, may help businesses maintain output. Several members also discussed housing, saying single-family permits have fallen while rental supply has improved affordability, and they raised concerns about labor-force growth, wage disparities, and the reliability of recent employment data revisions. No formal votes or actions were taken.

Transcript Highlights:

• of plus or minus 2% compared to the current discount rate.
• For reference, CalPERS' current discount rate is 6.8%.
• We use that rate to discount future benefit payments.
• establishes the contribution rates and the liabilities.
• You obviously want your contribution rates to rely on audits.

Summary: The Assembly Committee on Public Employment and Retirement and the Senate Committee on Labor, Public Employment, and Retirement held a joint hearing required by law to receive an independent report from the California Actuarial Advisory Panel on CalPERS. Opening remarks emphasized CalPERS’ role in providing retirement security for about two million members and the importance of pension funding to the state budget, especially amid economic uncertainty, market volatility, federal policy changes, and concerns about future fiscal pressure. Scott Tarando, CalPERS chief actuary and a CAP member, presented on the statutory disclosure requirements in Government Code Section 2029. He explained that CalPERS’ current discount rate is 6.8%, that lower investment returns increase contribution rates and unfunded liabilities, and that the plan uses a 20-year amortization period for new unfunded liabilities. He said CAP has recommended a reasonable amortization range of 15 to 20 years and that CalPERS’ longer smoothing period helps reduce volatility in employer contributions. He also explained the timing of actuarial data: the valuation used for current contribution rates is based on the prior fiscal year’s audited data, with the next year’s rates developed later in the annual cycle. Members asked about the relationship between average employee service life and amortization, whether current market and AI-related changes could justify using more current data, whether pension benefits change when valuations are updated, and how CalPERS’ funded status has changed over time. Tarando said retiree benefits do not change based on annual valuations, that the system’s funded status has improved from roughly the mid-60% range about a decade ago to around 80% or higher more recently, and that CalPERS is monitoring possible long-term workforce effects from AI but sees no immediate need to change assumptions. Michael Cohen of CalPERS said the system complies with information requests and is independently audited annually, but there has been no formal federal review released. In public comment, a representative of county governments praised the improved funded status and PEPRA reforms. The hearing concluded with remarks reaffirming fiduciary responsibility and the importance of protecting CalPERS beneficiaries.

Transcript Highlights:

• of plus or minus 2% compared to the current discount rate.
• For reference, CalPERS' current discount rate is 6.8%.
• We use that rate to discount future benefit payments.
• establishes the contribution rates and the liabilities.
• You obviously want your contribution rates to rely on audits.

Summary: The Assembly Committee on Public Employment and Retirement and the Senate Committee on Labor, Public Employment, and Retirement held a joint hearing required by law to receive an independent report from the California Actuarial Advisory Panel on CalPERS. Opening remarks emphasized CalPERS’ role in providing retirement security for roughly two million members and the importance of actuarial assumptions to state budgeting and long-term pension health. Scott Tarando, CalPERS chief actuary and a CAP member, presented the report with Michael Cohen of CalPERS’ investment office available for questions. Tarando explained the statutory disclosure requirements under Government Code Section 2029, including sensitivity analysis around CalPERS’ 6.8% discount rate, and discussed how investment return assumptions and the 20-year amortization period affect contribution rates, unfunded liabilities, and budget volatility. He said shorter amortization periods would raise near-term costs but reduce long-term interest costs, and noted that CalPERS’ current approach is intended to smooth contribution changes over time. He also described the timing of the annual valuation process, explaining that contribution rates for a given fiscal year are based on the most recently audited year-end data and are approved by the board before being used in the budget process. Members asked about the relationship between average employee service life and amortization, whether more current data could be used, the effect of AI and labor-market changes on future assumptions, whether retirees’ benefits change with annual valuations, and CalPERS’ funded status. Tarando said the average expected working lifetime is about 11 to 12 years, while CalPERS uses a 20-year amortization period; he also said retiree benefits are set at retirement and do not change based on later valuations. He estimated CalPERS’ funded status had risen from the mid-60% range about 10 years ago to around 79% at June 30 and above 80% more recently. Cohen said CalPERS had complied with federal information requests and that no formal federal review had been released. During public comment, a county association representative praised the improved funded status and PEPRA reforms. The chairs closed by reiterating fiduciary responsibility and the need to protect CalPERS’ long-term stability, and the meeting adjourned.

Transcript Highlights:

• BUT I BELIEVE IT IS HOW WE ANALYZE A RATE CASE.
• AND THAT IS ON TOP OF RATE REQUESTS, YOU ALSO GET FROM UTILITY COMPANIES REQUESTS FOR ADDITIONAL RATES
• AND AS WE LOOK AT THOSE PROGRAMS WE THEN COMPARED THEM TO RATE AND ASK SO WHAT IS THE RATE IMPACT AND
• >> Mike LaRosa: I THINK EVERY TIME THERE IS A RATE CASE THERE IS A MODIFICATION.
• THE YEAR LETTER WOULD SAY WE ARE GOING TO FILE A RATE CASE.

Keywords: 999, senate, all

Transcript Highlights:

• </c> nursing homes that experienced a rate nursing homes that experienced a rate cut<00:37:36.960><c>
• </c> to section one of the bill, our rate to section one of the bill, our rate setting<00:37:59.280><
• </c> jeopardized by our current rate system. jeopardized by our current rate system.
• </c> the rate you think is the minimum. the rate you think is the minimum.
• </c> rating. Just like that. rating. Just like that.

Committee: Senate Finance

Keywords: 1191, senate, all

Transcript Highlights:

• variety of different vaccination rates.
• So what I... ...and then you can't get the approval for the rate or they're going to regulate your rate
• ...approval for the rate or they're going to regulate your rate, but your rate is already regulated because
• factors that you can use to develop the rate.
• have a rate review, um, a rate review, but not rate regulation.

Summary: The committee heard SB 1377, which would change California’s medical exemption process for school immunizations. The author and supporters argued the bill would restore physician discretion, reduce fear of audits and discipline, and help families with medically vulnerable children obtain exemptions. Opponents, including pediatric, medical, and public health groups, said the current system created by SB 276 and SB 277 is working, that valid exemptions are still being issued, and that loosening oversight could undermine immunization rates and public health. Members debated the data behind claims of a chilling effect, the number of exemptions reviewed or revoked, and the bill’s amendments, which narrowed the measure to current exemptions and added a small additional threshold. Because there was no quorum at the time, action on SB 1377 was delayed until a quorum could be present. The committee then heard SB 995, the Masuma Khan Justice Act, which would create a statewide inspection and enforcement framework for large voluntary residential facilities, including private immigration detention centers. The author and supporters described alleged neglect and abuse in detention facilities, including denial of medication, unsafe food and water, and inadequate oversight, and argued the state should ensure humane conditions and accountability. The California Hospital Association expressed concern about duplicative oversight and possible overlap with existing regulation, while the author said the bill was being refined to avoid constitutional problems and duplication. The committee voted to do pass and re-refer SB 995 to Judiciary, with the roll call showing five votes and the bill placed on call. SB 1089 was also heard, proposing expanded access to GLP-1 medications for state and local government employees through CalPERS and encouraging broader affordability efforts through CalRx. The author framed the bill as a response to chronic weight disease, diabetes risk, and high costs, and described his own experience obtaining and paying for GLP-1 treatment. Supporters from the American Diabetes Association and medical groups said GLP-1s are effective tools for preventing and managing type 2 diabetes and could reduce long-term health costs. No opposition was heard, and the committee voted do pass and re-refer the bill to Labor, Public Employment, and Retirement, with the vote placed on call. The committee also began SB 1221 on Murphy conservatorships, with supporters and opponents debating whether district attorneys should have a larger role in these proceedings and whether the bill would improve public safety or disrupt the civil mental health process; the transcript cuts off before final action on that bill.

Transcript Highlights:

• I said the entire school had a 30% passage rate or below.
• So if in 2024, they end up with a 75% rate, they're probably not going to know that rate till February
• University of Tampa, 100% pass rate. Florida Gulf Coast University, 100% pass rate.
• University of Florida, 98% pass rate. Daytona State College, 99.24% pass rate.
• The passage rate for a particular school? You recognize.

Summary: The Careers and Workforce Subcommittee heard three bills. HB 919 on nursing education programs would tighten accountability for nursing schools with low NCLEX pass rates by shortening the probation period, requiring remediation plans, mandating free remediation for students who fail, and requiring tuition reimbursement for programs with very low pass rates. The sponsor argued Florida’s nursing pass rates are unacceptably low and that stronger consequences are needed; opponents warned the bill could shut down programs, worsen the nursing shortage, and unfairly target private schools, while supporters said it would protect students and improve outcomes. After debate, the bill was reported favorably by a vote of 18-0. The committee then heard PCS for HB 1261, the “Smart Living Act,” a student-driven proposal from Jefferson High School in Hillsborough County to expand personal financial literacy and practical life-skills instruction in high school. Students and school officials testified that the bill would better prepare graduates for adulthood by covering topics such as budgeting, credit, loans, FAFSA, resumes, interviews, and basic household skills. Members praised the students’ work and the bill’s practical focus, and the PCS was reported favorably 18-0. Finally, the committee considered HB 809, which would exempt school social workers from educator certification requirements for general and subject-area knowledge. Supporters from Lee and Broward counties said the current testing requirement is unrelated to social work, creates financial and recruitment barriers, and has contributed to staffing shortages. Members from both parties supported the measure as a simple way to remove an obstacle to hiring and retaining school social workers. HB 809 was also reported favorably by a vote of 18-0, and the meeting adjourned after all agenda items were completed.

Transcript Highlights:

• That is a solid rate.
• or a shelf rate or some sort of small group rate.
• or a shelf rate or some sort of rate or a shelf rate or some sort of small<01:44:03.840><c> group</c
• ><01:44:04.239><c> rate.
• </c> small group rate. That's what we do. small group rate. That's what we do.

Committee: Senate Finance

Keywords: 1191, senate, all

Transcript Highlights:

• On slide 5, just a note about our vacancy rates.
• We have a year-end vacancy rate of 1.2% for the Division of Health Improvement, a 0% vacancy rate for
• the rates.
• You tell me the market rates. So, Mr.
• Well, change it to market rate.

Transcript Highlights:

• And if the insurers chose to raise their rates, they would go up by 0.2%, a dollar a month.
• receives the highest possible ratings from charity evaluators.
• We assume that these mid-tier providers would be paid a low rate.
• increase, but rather improve transparency in the rate-setting process.
• Yet the current rates do not account for these updated requirements.

Committee: Joint Joint Committee on Health Care Financing

Summary: The Joint Committee on Health Care Financing held a public hearing on a range of health care financing bills focused largely on autism services and kidney disease coverage. Committee chairs John Lawn and Cindy Friedman outlined hearing procedures and noted that written testimony would continue to be accepted until each bill is acted upon. They said the day’s bills addressed affordability and access to behavioral health services, provider reimbursement, Medicare coverage for vulnerable patients, and MassHealth eligibility asset exemptions. A major portion of the hearing concerned House Bill 4623, which would recognize board-certified assistant behavior analysts (BCABAs) in the MassHealth reimbursement framework to help address long wait lists for autism spectrum disorder services. Representative Lisa Field and several providers testified that Massachusetts families face long delays for ABA services and that adding BCABAs would expand workforce capacity, reduce costs, and improve access. Wakely actuary Annie Tasman Ewing said a three-tier model could reduce MassHealth costs by up to 6% annually, while Dr. Sandra Beaton and others described severe wait lists and said the bill would allow more families to be served sooner. The committee also heard extensive testimony on House Bill 4425 and Senate Bill 2737, which would allow people under 65 with end-stage renal disease to purchase Medigap coverage. Representative Stanley, Senator Gomez, and advocates from the American Kidney Fund and Dialysis Patient Citizens argued that current law unfairly excludes these patients, leaves them with high out-of-pocket costs, and can delay transplant eligibility because many centers require secondary insurance. Testifiers said the change would help about 846 residents, could cost insurers only a small premium increase, and might reduce Medicaid spending by avoiding asset spend-downs. Committee members asked questions about the existing statutory carve-out and the practical effects on transplant access. The hearing also included testimony on House Bill 4353 and Senate Bill 2587, which would require regular Medicaid rate reviews for ABA services. Providers and clinicians said current MassHealth rates no longer reflect the cost of delivering care, especially with new 2026 policy requirements, workforce shortages, and accreditation obligations. They emphasized that the bills would not mandate a rate increase but would create a data-driven, transparent review process. At the end of the hearing, the chairs thanked participants, invited additional written testimony, and the committee voted unanimously to adjourn the hearing.

Transcript Highlights:

• in last session's bonding bill, and had that passed, the city of Hastings would not see the water rate
• in last session's bonding bill, and had that passed, the city of Hastings would not see the water rate
• in last session's bonding bill, and had that passed, the city of Hastings would not see the water rate
• Do you think this eliminates a rate entirely, or just brings it down?
• to the city, or is this something that's just coming through rate hikes?

Keywords: 1187, senate, all

Transcript Highlights:

• </c><00:06:42.000><c> will</c> approved the overall average rate will approved the overall average rate
• higher rates, maker?
• </c> more money available, rates would go up. more money available, rates would go up.
• </c> allocate higher rates, maker? allocate higher rates, maker?
• </c><00:11:19.839><c> as</c> would um overall uh increase rates as would um overall uh increase rates

Keywords: 928, house, all

Summary: The Fiscal Committee met on December 19, with Senators Long and Lang serving as replacements. The committee approved the November 21 minutes and adopted the consent calendar after removing two Department of Health and Human Services items for separate discussion. It then took up an HHS request involving nursing facility rates, where Nathan White explained that $2.2 million would be transferred from a long-term care Medicaid eligibility contract to the nursing facilities budget. He said the funds would offset an otherwise projected 3.9% average rate decrease and bring the overall average change to zero for the next six months, with rates reset again in July under state law. Members asked about the budget adjustment factor, bed counts, and whether additional funds could raise rates further; White said the factor is statutory, capped at 28.76%, and that more money would lower the factor and increase rates. The committee also corrected a date in the request from February 1, 2025 to February 1, 2026, and approved the item. The committee next approved another HHS item related to rural health transformation grants. Members confirmed the request covered the full amount applied for this biennium, and asked about the technology component. HHS said the grant is not solely about AI, but about broader technology improvements such as electronic medical records, back-end systems, and tools to improve access and sustainability in underserved areas. The committee approved that item as well. The Judicial Council then requested funds for contract attorneys providing indigent defense on a fixed-fee basis. The council said current funds had already been exhausted and that the new appropriation would be used immediately. Members questioned the size of the request and the number of people awaiting counsel; the council reported about 150 incarcerated people and about 300 non-incarcerated people waiting for counsel, more than in recent years. It attributed the increase to competition for attorneys, public defender offices closing intake in some locations because of caseload limits, and broader case and court-system changes. One member raised constitutional concerns about delays in counsel for incarcerated defendants. The committee ultimately amended the request downward to $1 million, approved it, and then approved a motion to place several annual financial reports on file and release them to the public when available. The committee also discussed dashboard reporting from HHS, asking for more detail on community mental health center caseloads and budget-reduction information, and HHS agreed to provide more useful monthly detail.

Transcript Highlights:

• And if you look at the standard rate, or not standard rate, but if we used a 2% rate for North Dakota
• So we adjust the rates up or down for the agencies.
• We'd lay our new rate structure against that.
• We'd lay our new rate structure against that.
• the IT rates are done, and how the structure is.

Committee: Joint Government Finance Committee

Summary: The Government Finance Committee met with new leadership and approved the December 11 minutes. The committee first received an update from the Office of Management and Budget on the state general fund and major special funds. OMB reported revenues were tracking very close to forecast, with an estimated ending general fund balance of about $397 million, higher than previously expected. Staff also reviewed balances in the budget stabilization fund, legacy fund, foundation aid stabilization fund, social services fund, and strategic investment and improvements fund, along with oil tax collections and the current revenue picture. Legislative Council staff then summarized the special session budget changes and noted the updated beginning balance increased the projected ending balance for the next biennium. The Tax Department presented taxable sales and purchases data by county and industry, showing overall sales tax activity remained strong, with retail trade the largest sector and several counties posting notable gains. Commissioner Kraschis then reviewed federal tax changes under the One Big Beautiful Bill Act and estimated their impact on North Dakota income tax collections, explaining that the figures were compared to the 2025 baseline and would be incorporated into future forecasts. Members asked about the overtime and tip exclusions, the senior standard deduction, and the primary residence property tax credit application count, which was running ahead of last year at more than 154,000 applications. The committee also heard from the Department of Transportation on fee schedules, with members focusing on driver’s license fees and the fact that current fees cover only about half of program costs, meaning the highway fund subsidizes the remainder. DOT also reported on specialty plate activity, including nearly 3,900 blackout plates issued, and noted increased state fleet usage. The Information Technology Department explained its internal service fund rate-setting process and discussed possible billing simplification, including annual billing and improved invoice detail. OMB also provided data on leased office space in the Bismarck-Mandan area and state workforce counts, and Legislative Council updated the committee on legislative branch space planning. Finally, subcommittee reports noted continued work on fixed-route transit funding and regional jail capacity, including Burleigh-Morton’s new DOCR housing wing and ongoing overcrowding in state correctional facilities. No formal votes beyond the minutes approval were taken, and the meeting adjourned with the next meeting set for June 25.

Transcript Highlights:

• The tax rate is 0.1%.
• Next, the premium rate The premium rate is set by statutory formula, which takes into account the PFML
• The bill also requires the actuarial rate to close the rate collection year with a four-month reserve
• As under both the current statutory formula and the bill's actuarial rate, ESD projects the rate to hit
• The rate started at 0.4% in 2019.

Bills: SB6256 , SB6275 , SB5868 , SB5954

Committee: Senate Ways & Means

Keywords: tax exemptions, affordable housing, nonprofit, unoccupied property, housing policy, community reinvestment, economic development, local investment, financial assistance, SB 5868, superior court, judge, judgeship, judicial vacancy, court administration, Skagit County, Yakima County, RCW 2.08.061, Washington courts, county judges

Transcript Highlights:

• </c><00:06:15.199><c> of</c><00:06:15.520><c> $15.75</c> ft at a rate of $15.75 ft at a rate of $15.75
• <00:07:01.520><c> of</c><00:07:01.759><c> $1423</c> rate of $1423 rate of $1423 per<00:07:03.680><c>
• Uh so to but to answer square foot rate.
• It seems like they were requesting a rate increase, but I think the last time we did a rate increase
• So, from my at that same rate.

Keywords: 00:09 Call to Order and Roll Call 00:42 Approval of Minutes 01:07 Information Items 04:05 Lease Rpt - Finance and Administration Cabinet 18:59 OFM - Economic Development Fund Grants 25:42 OFM – KY Housing Authority 31:30 Remaining 2025 Meetings 33:26 Adjournment, 958, all

Summary: The committee met with quorum, approved the September meeting minutes, and received a set of information reports on capital projects, debt, school district bond issues, UK and KCTCS asset preservation projects, and the Louisville Arena Authority’s financial report, with the latter noted as lengthy and expected to be discussed further in person in December. The committee also heard a Finance and Administration Cabinet lease report covering three leases: a temporary lease for the Cabinet for Health and Family Services in Louisville due to ongoing maintenance and safety issues at its current site, a Department of Juvenile Justice lease in Hardin County for a day-treatment/alternative school program, and a Warren County lease renewal. Members questioned the Hardin County lease about the higher rate and limited competition; agency staff explained the specialized school setting, transportation and program requirements, and the difficulty of attracting bidders for alternative-school space. The lease package was approved after roll call. The committee then considered seven economic development grants: four EDF grants and three KPDI grants. The projects included infrastructure for Allen County’s industrial park, flood-related repairs for Weddington Plaza in the Big Sandy area, an Owensboro manufacturing expansion for Mscan America, a new Louisville manufacturing facility for Anthro Energy, a Henderson due-diligence study, a Paducah spec building, and utility extensions for the Riverbend site in Carrollton. Staff said the projects had been approved by KEFA and recommended by the relevant cabinet leadership, and the committee approved them by roll call. Finally, the committee reviewed a new Kentucky Housing Corporation conduit bond issue for about $43 million for 233 Louisville housing units, which was approved. It then took up five SFCC debt issues together: new money for an Edmonson County elementary school and Knox County middle school gym improvements, plus refundings for Callaway, Hardin, and McCracken counties. Members raised concerns that the refundings were bundled together and that some did not appear to meet a newly referenced 3% net present value savings guideline, but the package was still approved on a 5-2 vote. The meeting ended with calendar updates, including a November 20 meeting at noon and a December 16 meeting featuring the Yum Arena presentation, followed by adjournment.

Transcript Highlights:

• Over a 10% error rate, it could go up to $173 million.
• On the next slide, we'll discuss our error rate.
• I noted we're not leading in the error rate.
• At a 15 percent error rate, we're very near that.
• well as the agency error rate.

Committee: House Water & Natural Resources Committee