Transcript Highlights:

• We believe in capitalism.
• </c> this bipartisan Main Street Capital this bipartisan Main Street Capital Access<04:51:55.600><c>
• 05:07:15.280><c> about</c><05:07:15.680><c> changing</c> Capital Access Act is about changing Capital
• The Main Street Capital disappears.
• </c><05:20:27.200><c> That's</c> have access to more capital. That's have access to more capital.

Bills: HB6955 , HB8800 , HR1118

Keywords: banking reform, financial institutions, community banks, credit unions, regulatory relief, economic stability, mergers and acquisitions, supervisory practices, CACFP, Child and Adult Care Food Program, National CACFP Week, child nutrition, school meals, after-school meals, Head Start, child care, day care, adult day care, emergency shelters, military child care

Transcript Highlights:

• I call the meeting of the House Capital Investment Committee to order on Thursday, January 23rd.
• Today we have a very exciting day in the House Capital Investment Committee.
• By law, the Sustainable Building guidelines are required for certain capital construction projects.
• </c> ignore it so they they do their Capital ignore it so they they do their Capital project<00:22:49.240
• </c> decided to kind of turn the capital decided to kind of turn the capital Campaign<01:09:42.799><c

Committee: House Capital Investment

Transcript Highlights:

• And we've invested through the capital side, $16-plus million just in the 28th for DuPont, the DuPont
• So undoubtedly a cultural asset to our area down here in the South Sound, with an incredible history.
• I'm following her great leadership on that, but it's an important asset, and she's the one who deserves
• The state hosts four major installations and some of the country's most vital Navy assets, including
• The state hosts four major installations in some of the country's most vital Navy assets, including two

Summary: The committee heard updates from Joint Base Lewis-McChord, Navy Region Northwest, Fairchild Air Force Base, the Coast Guard, state licensing agencies, the Professional Educator Standards Board, the Washington National Guard, and a veterans behavioral health presenter. Across the military briefings, common themes were readiness, infrastructure, and quality-of-life issues for service members and families, especially child care, housing, food insecurity, medical and dental access, and military spouse employment. JBLM highlighted its role in Indo-Pacific readiness, ongoing PFAS cleanup, 212 new family housing units under construction, efforts to expand child care, and continued work to keep the Lewis Army Museum open. Navy Region Northwest discussed its major installations and economic impact, the Shipyard Infrastructure Optimization Plan, future carrier and submarine homeporting needs, and asked the legislature to continue support for licensure compacts, educational stability for military children, housing, and medical access. Fairchild emphasized its tanker and survival missions, child care shortages, food insecurity, aging housing, and concerns about wind turbine development near flight paths, while the Coast Guard focused on rebuilding Base Seattle for new icebreakers and on rural access to housing, medical care, and child care at dispersed stations like Neah Bay. Members repeatedly raised food insecurity and asked for follow-up on solutions. JBLM and Fairchild both described increased demand for food assistance during the shutdown, and committee members noted progress in getting mobile food vans onto JBLM. The presenters also praised state action on military spouse licensure and child care, including Senate Bill 5545 and related compact and portability efforts. The Department of Licensing reported about 9,000 self-identified military members or spouses licensed, with average time-to-license just under nine days, and said applications are prioritized when military status is self-identified. The Department of Health said its military-to-civilian crosswalk now covers more than 35 health professions, that temporary practice permits and expedited processing are in place, and that 1,300 credentials were issued to military spouses and domestic partners and 129 to military-trained health professionals in the last fiscal year, all within 30 days. The Professional Educator Standards Board explained that military spouses and service members can receive expedited teacher certification with reduced documentation, and that they are moved to the front of the review queue when they self-identify. Members asked about verification, and staff said the process relies on attestation with investigatory safeguards if needed. The Washington National Guard briefed on its dual state and federal mission, the impact of the recent shutdown on nearly 700 employees who worked without pay, and policy and budget requests including youth academy protections, alignment of the Washington Code of Military Justice with the UCMJ, making Civil Air Patrol a division of the Military Department, 911 funding, disaster assistance, and capital funding for headquarters and readiness facilities. The Guard also warned about drone threats and said it wants authority to identify, track, and monitor suspicious drones. A veterans behavioral health presenter, an Army combat veteran and clinical social worker, described high suicide risk, barriers to care, and the need for more culturally competent services, especially for women veterans and caregivers. He said Washington veterans’ suicide rate remains above the national average and emphasized that childcare, transportation, and provider shortages can prevent timely treatment. Members generally responded supportively throughout, asked for follow-up on food security and other issues, and encouraged agencies to bring forward legislative ideas for future sessions.

Transcript Highlights:

• </c> which in turn help preserve their assets which in turn help preserve their assets and<00:26:07.200
• And you may hear in the GE Capital.
• </c> with the understanding that their assets with the understanding that their assets were<00:59:31.920
• What's one how to preserve their assets.
• Unfortunately, our protect our assets.

Committee: Senate Health and Human Services

Transcript Highlights:

• And we will have to go after specific businesses based on our assets.
• I do think our work, our career tax system, is a huge asset for us.
• Do we have a strategic asset map by chance?
• We also rely on our local partners to supply us information on those assets.
• I think we do have the basic asset map.

Committee: House Legislative Evaluation and Development Committee (LEAD)

Transcript Highlights:

• </c><00:12:37.760><c> Um</c> depreciation of business assets. Um depreciation of business assets.
• It applies to most assets with lives of 20 years or less.
• With the One Big Beautiful Bill Act, bonus depreciation is back at 100% for assets placed in service
• It applies to most assets with service.
• </c> depreciation is back at 100% for assets depreciation is back at 100% for assets placed<00:13:08.320

Summary: The committee first approved the minutes and heard a brief member introduction before taking up an overview of major tax provisions in HR1, referred to by the presenters as the One Big Beautiful Bill Act. Representatives from the Kentucky Society of CPAs explained new federal deductions for tips, overtime, and car loan interest; a new tax-favored “Trump account” for children; expanded bonus depreciation and Section 179 expensing for businesses; changes to R&D expensing; and a new limit on wagering loss deductions. Members asked several clarifying questions about the duration of the provisions, W-2 and 1099 reporting changes, and how overtime deductions would work. The presenters emphasized that tips and overtime remain subject to payroll taxes and that many of the business provisions are permanent, while the individual deductions are temporary through 2028 or otherwise phased in over time. The discussion then shifted to individual and nonprofit provisions, including the increase in the state and local tax itemized deduction cap from $10,000 to $40,000 with income-based phaseouts, the temporary senior deduction, and a new deduction for car loan interest with income limits and vehicle qualifications. On charitable giving, the presenters described a permanent nonitemizer deduction, new floors for individual and corporate charitable deductions, and a new scholarship-granting organization credit that would allow donors to receive a dollar-for-dollar federal credit up to $1,700, beginning in 2027. Members focused heavily on the SGO provision, asking about state implementation, oversight, whether churches would qualify, and whether the credit could support both public and private education. The presenters said the state would need to establish the mechanism and that additional federal guidance is still pending. After the tax presentation, the committee heard from the Kentucky Chamber of Commerce on workforce issues, with a focus on child care and housing as barriers to labor force participation. Chamber representatives said they were not proposing large new government programs, but rather targeted policy recommendations for the 2026 session. They described Kentucky’s long-term decline in workforce participation since 2000, attributing much of it to demographic change, an aging population, and fewer younger workers entering the labor force. The presentation continued into a broader discussion of workforce trends and the need for practical policy responses, but no votes or formal actions were taken on these informational items.

Transcript Highlights:

• including the low-carbon transportation operating program, LC-TOP, the Transit and Intercity Rail Capital
• They see an opportunity to capitalize on the infrastructure they already have, including transit, and
• They see an opportunity to capitalize on the infrastructure they already have, including transit, and
• The Transit and Intercity Rail Capital Program, which we have applied to, can unlock critical matching
• The Transit and Intercity Rail Capital Program is a major source of funding for us.

Summary: The Select Committee on Downtown Recovery held an informational hearing on the future of public transit and its role in downtown recovery. Chair Haney framed the discussion around how downtowns have changed since the pandemic and how transit, walkability, housing, and street design can support more 24/7 activity. The hearing included three panels: transit agency representatives, street design and curb management experts, and housing/transit development advocates. Transit agency witnesses from BART, LA Metro, and Sacramento Regional Transit described post-pandemic ridership shifts, with more weekend, evening, and event-based travel and less reliance on traditional weekday commute patterns. BART highlighted downtown San Francisco’s dependence on transit, its event service, safety investments, and transit-oriented development pipeline, while asking the state to protect transit funding and honor SB 125 and greenhouse gas reduction fund commitments. LA Metro emphasized special event service, especially around the World Cup and Union Station activations, as a way to make transit a destination and improve customer experience. Sacramento Regional Transit reported bus ridership recovery above pre-pandemic levels, light rail lagging behind, new vehicles and stations, stronger security measures, and concerns about future funding cuts affecting student fares, capital projects, and service levels. The second panel focused on making downtown streets more walkable and transit-friendly. Jeff Speck argued that walkability depends on places being useful, safe, comfortable, and interesting, and urged cities to restripe streets, reduce lane widths, add bike protection, improve crossings, and redesign one-way streets. Mark Vuksevich of Streets for All said downtowns are statewide economic assets and called for frequent transit, bus priority, modern curb management, parking pricing tied to availability, and parking benefits districts that reinvest revenue locally. He also said the state should provide model enabling legislation and more flexibility for local experimentation. The final panel focused on housing near transit. California YIMBY’s Aaron Eckhouse supported AB 2074, which would encourage large-scale housing in transit-rich downtowns, and argued for more financing tools, condo reform, and building code changes to reduce costs. Transbay Joint Powers Authority Executive Director Adam Van Water described the Transbay Transit Center and surrounding district as a case study in transit-oriented downtown growth, with millions of square feet of development, thousands of residents, and a major portal project still awaiting funding and pre-construction work. Members discussed office-to-housing conversions, the need to repurpose underused office stock, and the importance of state funding and policy support for transit, housing, and downtown revitalization.

Transcript Highlights:

• an influx programs and we could need uh an influx of<00:03:20.400><c> state</c><00:03:20.800><c> capital
• c> a</c><00:03:21.840><c> a</c><00:03:22.159><c> medical</c><00:03:22.560><c> system</c> of state capital
• for a a medical system of state capital for a a medical system like<00:03:23.040><c> HCMC.
• and we are literally their biggest asset and we are literally taxing<00:09:20.000><c> people</c><00:
• </c> payments for specific capital payments for specific capital improvement<00:15:22.079><c> projects

Transcript Highlights:

• You're going to put your investment in your wells on your best assets.
• You're going to put your investment in your wells on your best assets.
• Of major capital projects and use of certain funds. Colonel Solberg, welcome.
• That was capital building improvements. That's a $3 million appropriation.
• And then the last note I'll make here is the capital kitchen remodel. That is being done.

Summary: The Budget Section Leadership Division met with a quorum and approved the March 18 minutes before hearing a series of informational updates. The Petroleum Council reported that North Dakota oil production is expected to remain relatively flat at just under 1.2 million barrels per day, with activity shifting northward in the Bakken as technology improves and three- and four-mile laterals boost well performance. The presentation also discussed oil and gas prices, gas taxation, flaring concerns, the importance of pipelines and other linear infrastructure, and enhanced oil recovery pilot projects supported by state and federal funding. Members asked questions about gas production taxes, natural gas liquids, and the outlook for drilling rigs and future production. The Office of State Tax Commissioner then reviewed the federal “big beautiful bill” and its estimated effect on North Dakota individual and business income tax collections. Staff explained that most of the individual income tax impact comes from the permanent increase in the standard deduction, while temporary provisions such as senior deductions, tip and overtime exclusions, and auto loan interest deductions have smaller or limited-term effects. They also noted that business tax changes, especially depreciation and expensing provisions, create a larger near-term cash impact, and that some FY25 collections likely reflected one-time oil field transactions that may have inflated the baseline used in earlier estimates. OMB provided updates on major capital projects and facility funding. For Capitol grounds improvements, officials described plans for 18th-floor renovations, wayfinding upgrades, public seating, lighting, tree management, and possible restroom and lobby reconfiguration, while also noting the governor’s residence security project and the discovery of human remains on the Capitol grounds. OMB and its consultants also reported on the state facility maintenance fund, including window replacement, boiler work, roof and foundation repairs, and a new facility conditions assessment covering more state buildings. Updates were also given on the new state hospital in Jamestown, the Minot state office building, and the use of federal state fiscal recovery funds, including possible future reallocations to the Department of Corrections. Finally, Legislative Council staff summarized the interim compliance report on legislative intent and trust fund activity, highlighting the status of lines of credit, Bank of North Dakota profit transfers, the statewide litigation pool, the new Office of Guardianship and Conservatorship, corrections planning, HHS program updates, and a likely future general fund request for the unemployment insurance modernization project. No formal votes were taken beyond approval of the minutes; the meeting was primarily informational, with members asking clarifying questions throughout.

Transcript Highlights:

• But I do believe that I will be an asset to the board because of my unique experiences.
• And I can vouch for former Senator Frockt's involvement in the capital budget world.
• And, you know, that was a priority when we had those discussions on capital budget.
• I'm the Director of Capital Planning and Projects.
• Now, the North Academic Commons is more than just a capital project for an academic facility.

Summary: The Senate Higher Education and Workforce Development Committee first waived the five-day notice rule and held a public hearing on Substitute House Bill 2525, which would establish a Heritage Orchard Program at Washington State University. Staff explained the bill was narrowed from the original version and would require WSU to maintain a registry of heritage orchards and a list of rare and lost apple varieties, with a null and void clause and fiscal note available. Representative Gloria Mendoza testified in support, describing Washington’s apple history and the effort to identify and preserve old apple trees still found on farms and trails around the state. Members asked questions about how the program would locate trees and preserve historic varieties, but no vote was taken on the bill during the hearing. The committee then heard several gubernatorial appointments to higher education boards. Representative Deborah Inteman was nominated to the State Board for Community and Technical Colleges, Bryce W. McKibben to the Pierce College Board of Trustees, former Senator David Frockt to the Western Washington University Board of Trustees, and former Senator Christine Rolfes to the Olympic College Board of Trustees. Each appointee described their background in higher education, public service, and community college or university advocacy, and members asked about attendance, board service, and how they would help bridge legislative and institutional priorities. The committee also held a work session on Central Washington University’s geothermal and decarbonization efforts, with staff explaining the university’s open-loop geothermal system, planned geo-eco plants, and climate action goals tied to state clean building and decarbonization mandates. CWU officials said the project is intended to reduce emissions, support campus heating and cooling, and serve as a living laboratory for students. In executive session, the committee moved to report a panel of gubernatorial appointments, including the higher education appointments heard that day, with a recommendation that they be confirmed. The motion passed by voice vote, and the committee adjourned.

Transcript Highlights:

• and they specialize in work particularly in rural and small communities, so they were a fantastic asset
• This is some of the work that they were doing: mapping community capital and small groups, and South
• So thinking about, they did asset mapping and thinking about what they had in terms of human capital,
• social capital, cultural capital, political capital, financial, natural, and built.
• Also just helping me understand the culture and the community assets that exist in these communities.

Transcript Highlights:

• With regard to funding, we do have available capital funds associated with student fees that are paid
• Great asset. And on a slight personal note, I'm a recent graduate of UNR myself.
• Notably, it did exclude this money from being used toward capital improvement projects and facilities
• SB 427 is a welcome capital project bill to fund planning.
• SB 427 is a welcome capital project bill to fund planning.

Bills: SB6 , SB62 , SB74 , SB90 , SB104 , SB119 , SB132 , SB133 , SB135 , SB182 , SB185 , SB193 , SB207 , SB217 , SB229 , SB233 , SB260 , SB262 , SB280 , SB281 , SB300 , SB306 , SB378 , SB382 , SB393 , SB403 , SB422 , SB427 , SB431 , SB434 , SB442 , SB452 , SB456 , SB468 , SB472 , SB487 , SB503 , SB6

Committee: Assembly Ways and Means

Transcript Highlights:

• It also enables meaningful public-private partnerships where private capital can take on risks, bring
• to generate the capital needed for continued build-out.
• If you're able to raise a lot of that private capital, we talked about that earlier.
• And also you have the risk of potential stranded assets, right?
• That obviously takes significant capital up front, as we've talked about.

Summary: The Senate Transportation Committee held an informational hearing on the California High-Speed Rail Authority’s 2026 draft business plan, with testimony from the authority, the Legislative Analyst’s Office, and the High-Speed Rail Inspector General. Chair Cortese framed the hearing around the project’s recent changes: a new CEO, revised delivery strategy, proposed station and scope changes in the Merced-to-Bakersfield segment, the loss of major federal funds, and the authority’s push for private investment and ancillary revenue. He also raised concerns about financing risks, the proposed changes to the initial operating segment, and the Inspector General’s finding that the draft plan may be missing required statutory elements. Authority CEO Ian Chaudhry said the project is now in a more disciplined phase, citing major construction progress in the Central Valley, near-completion of right-of-way and utility work, and plans to begin track and systems procurement. He said the authority expects the Merced-to-Bakersfield segment to be completed around 2032-33, with broader Phase 1 service later, and argued that design optimization, direct procurement, and public-private partnerships could reduce costs and attract private capital. He also described plans for ancillary revenue from real estate, broadband, energy, and logistics, and said the authority is discussing station locations and value-capture tools with local governments rather than locking them in yet. Several senators questioned the legality and practicality of tax increment financing, utility relocation authority, transparency, and whether the project’s revised scope still meets high-speed rail standards and public expectations. The Legislative Analyst’s Office said the draft plan assumes major statutory changes, including changes to station locations and scope, and warned that the plan’s cost and schedule estimates depend on assumptions that may not materialize. LAO said the plan lacks transparency because it does not clearly disclose the assumed station changes, and it questioned whether even the shorter segment can be delivered within existing funding once borrowing costs and other risks are included. The office also noted uncertainty around future greenhouse gas reduction fund revenues and said ancillary revenues are not yet credit-worthy for financing. The Inspector General’s office said the draft business plan does not appear to meet several statutory requirements, including requirements added in AB 377, and reiterated that the final plan must address those omissions. Chaudhry said the authority would respond to the OIG’s findings in the final business plan and committed to resolving the compliance issues before final adoption.

Transcript Highlights:

• In fee for service, sorry, current fee for service rates are lower than those paid by capitated plans
• In fee for service, sorry, current fee for service rates are lower than those paid by capitated plans
• We're first requesting, through the governor's budget, equipment and capital improvements.
• It includes a total of $29.2 million, and that is for asset, income, and identity verifications.
• It includes a total of $29.2 million, and that is for asset, income, and identity verifications.

Committee: Senate Appropriations Committee on Health and Human Services

Summary: The Appropriations Committee on Health and Human Services heard presentations on the governor’s proposed fiscal year 2026-2027 budget for the health and human services agencies. Kendall Kelly outlined the overall HHS budget at $48.5 billion, with AHCA accounting for the largest share, and agency heads then highlighted major proposals for Medicaid behavioral health redesign, APD waiver enrollment and facility needs, DCF child welfare, opioid, and mental health investments, DOEA funding for Alzheimer’s, home care, and community services, DOH funding for cancer research, public health initiatives, and lab capacity, and VA funding for facility improvements, cybersecurity, and medication management. Several members praised specific proposals, including increased reimbursement for private duty nursing, Alzheimer’s supports, and the Florida FIRST blood-in-ambulance initiative. Senators also questioned the proposed changes to the AIDS Drug Assistance Program (ADAP), with the Surgeon General explaining that the department expects a reduction in covered patients from about 30,000 to about 20,000 because of funding pressures tied to rebates, federal changes, and premium tax credit issues. Public testimony strongly criticized the ADAP changes, citing lack of transparency and warning that many patients could lose access to medications. Other questions focused on the Office of Minority Health and Health Equity, DCF’s substance abuse and mental health data dashboard, Kids Care/CHIP expansion implementation, APD bed and facility planning, and the FX Medicaid technology project. DCF said about $7 million is set aside for the dashboard system, and AHCA said the governor’s budget includes $124.4 million for FX maintenance and continued module development, with $13.5 million to begin claims processing work. The committee did not take a substantive vote on the budget presentations and adjourned after questions and public testimony.

Transcript Highlights:

• And I think at the end of the day, I think stabilization attracts capital. I think, To result.
• And I think at the end of the day, I think stabilization attracts capital.
• I think capital attracts competition, and competition will drive down rates.
• This bill will close a regulatory gap and ensure that investment advisers managing assets less than $100
• allow credit union members to meet electronically and would eliminate the arbitrary limit on fixed asset

Summary: The Committee on Banking and Insurance met with a quorum present and took up several bills, beginning with SB 834 on health care sharing ministries and insurance agents. Senator Yarbrough presented the bill to repeal a recent restriction on licensed insurance agents marketing or selling faith-based health care sharing programs. Supporters argued the change restores free speech and consumer education while preserving existing consumer protections; opponents said the bill was unnecessary and could increase confusion or misuse of agents and brokers. The committee adopted a title amendment and then reported the bill favorably after debate, with Senator Pizzo raising concerns about consumer reliance and lack of guaranteed coverage. The committee then approved SB 642 on foreign and alien bail bond insurers, SB 394 on reinsurance intermediary managers, and SB 266 on public adjuster contracts. SB 266 would let vulnerable adults rescind public adjuster contracts at any time without penalty; it drew support from consumer and industry groups, with some discussion about estimates and claim work product. The committee also passed SB 832 on residential property insurance transparency, which requires rate transparency reports and a consumer resource center at OIR, and adds a provision excluding land value from homeowners coverage calculations in most cases. Testimony on SB 832 was generally supportive of the transparency goal, though insurers said some of the required cost breakdowns may be difficult to produce as written. The committee next considered SB 1028 on Citizens Property Insurance Corporation, which would create a commercial lines clearinghouse to move eligible policyholders into the private market and reduce Citizens’ commercial exposure. Supporters said it would lower taxpayer risk and improve competition; a speaker suggested additional changes to deductibles, water-damage caps, and repair practices. The bill was reported favorably after a delete-all amendment and supportive debate from Senator Boyd. Finally, the committee passed SB 540 on the Office of Financial Regulation, which adds cybersecurity requirements for certain licensees, updates oversight of investment advisers and money service businesses, adjusts some charter and meeting rules for financial institutions and credit unions, and includes amendments clarifying repossession/deficiency claims, family office exemptions, and virtual credit union meetings. The meeting ended with all of the considered bills reported favorably and the committee adjourned.

Transcript Highlights:

• And I think at the end of the day, I think stabilization attracts capital. I think... ...to result.
• And I think at the end of the day, I think stabilization attracts capital.
• I think capital attracts competition, and competition will drive down rates.
• This bill will close a regulatory gap and ensure that investment advisers managing assets less than $100
• allow credit union members to meet electronically and would eliminate the arbitrary limit on fixed asset

Bills: S0266 , S0394 , S0540 , S0632 , S0642 , S0832 , S0834 , S1028

Committee: Senate Banking and Insurance

Summary: The Committee on Banking and Insurance met with a quorum and took up several bills, beginning with SB 834 on insurance requirements for nonprofit religious organizations and health care sharing ministries. The bill repeals a recent restriction on licensed insurance agents marketing or selling faith-based health care sharing programs. Supporters argued the change restores free speech and consumer education while preserving existing fraud and disclosure protections; opponents said allowing agents and brokers could create consumer confusion and has been associated with bad actors. A title amendment was adopted, and after debate the committee reported the bill favorably. The committee also heard and passed SB 642, which extends reporting and duty requirements to foreign and alien bail bond insurers, and SB 394, a technical bill updating reinsurance intermediary manager law to match current DFS practice. SB 266, which lets vulnerable adults rescind public adjuster contracts without penalty, was reported favorably after testimony from supporters in the insurance and elder law communities and a public adjuster who said the intent was good but the bill may need refinement. SB 832, a residential property insurance transparency bill requiring rate breakdown reports and a consumer resource center, also passed after discussion about consumer clarity and whether the required cost categories can be compiled as written. Later, the committee approved SB 540, which creates cybersecurity requirements for mortgage and money service businesses, closes a regulatory gap for certain investment advisers, adjusts OFR examination-payment deadlines, changes de novo charter requirements, allows virtual credit union meetings, and makes other financial regulation updates. Several amendments were adopted, including a substitute amendment removing fintech sandbox provisions. Finally, SB 1028 on Citizens Property Insurance Corporation was reported favorably after debate over a commercial lines clearinghouse intended to reduce Citizens’ exposure and shift more business to the private market; members discussed taxpayer risk, market competition, and consumer protections. The meeting ended with adjournment.

Transcript Highlights:

• and the commercial interest in specific assets.
• Near-term opportunity for commercial interest to protect assets.
• by asset.
• that specific asset owner to remain in business by providing a potential subsidy.
• We have to not react, so we should put less focus on bucket one by reacting to asset by asset, and by

Committee: House Utilities and Energy

Transcript Highlights:

• Those break down to financial capital for companies.
• So I hope we can do this in the future because capital is a real need.
• So, it'll kind of be venture capital education tomorrow, just so you know.
• They have... ...have capital out.
• And so that piece would not necessarily be a capital outlay.

Committee: House New Mexico Finance Authority Oversight Committee

Transcript Highlights:

• It is a prolific, profitable asset for the state of Missouri.
• In terms of the capital stack for these projects, the Missouri Historic Credit provides 20% or less.
• It's about 19% of the capital cost, maybe 20%, and 80% of the capital cost is imported into the state
• I'm going to do apartments in a community service facility and put the gym to use as a community asset

Committee: House Commerce, Consumer Protection, Energy and the Environment

Summary: The Commerce Committee first took up House Bill 1845 in executive session and voted it do pass unanimously. The committee then moved into a public hearing on House Bill 3080, sponsored by Representative Riggs, which was presented as a technical/emergency fix to restore Missouri’s historic preservation tax credit provisions after a court ruling invalidated prior legislation because of unrelated “chicken coop” language. Riggs said the bill was needed to protect more than $300 million in projects already underway and noted companion legislation was moving in the Senate. Committee members expressed support and emphasized the importance of historic redevelopment, especially in St. Louis and other communities. Supporters testified that the bill would stabilize financing for projects already in progress and preserve a key tool for redeveloping vacant historic buildings, schools, theaters, and other properties statewide. Witnesses described specific projects including Delmar Devine in St. Louis, a vacant school in Hermann, the Englewood Theater in Independence, Cooper House, and Elliott School, explaining that tax credits were essential to making the projects financially feasible and to leveraging private investment, grants, and other financing. Several speakers said the credits help address housing shortages, neighborhood blight, and community revitalization, and that uncertainty after the court ruling was threatening construction and financing commitments. One witness, Arnie C., testified in opposition, calling the measure a corporate giveaway and arguing the state could not afford the program. Committee members responded that the bill was a corrective measure, not an expansion of credits, and that it was necessary because projects had already been approved and were in various stages of completion. After hearing testimony from supporters, one opponent, and no additional witnesses, the chair closed the hearing on House Bill 3080 and adjourned the committee.

Transcript Highlights:

• </c> from the reliable portion of the assets from the reliable portion of the assets that<00:48:03.960
• shuo</c><00:53:15.000><c> or</c> a depreciated assets say like shuo or a depreciated assets say like
• </c> regardless of whether the asset regardless of whether the asset contributes<01:03:32.839><c> to<
• </c> utilities to build reliable assets utilities to build reliable assets ensuring<01:04:49.400><c>
• not but could you close uh an asset like not but could you close uh an asset like that<01:14:47.840><

Committee: House Energy Finance and Policy