Transcript Highlights:

• <00:03:17.760> so or three years have been on finance so or three years have been on finance
• I worked in corporate finance.
• I worked in government finance and uh, you know, here we are working on state finances.
• This is my fourth term in Finance.
• <00:04:53.039> I years I worked in corporate finance I years I worked in corporate finance

Keywords: 1189, house, all

Summary: The Finance Committee met for an organizational opening session in which the chair, Ken Weyler, called the committee to order and members introduced themselves. The introductions established the committee’s leadership and membership, including Vice Chair Dan McGuire, ranking member Mary Jane Wallner, deputy ranking member Karen Eil, clerk Jerry Griffin, and other members from both parties. Many members briefly described prior legislative service and professional backgrounds, with several noting prior experience on Finance or related budget committees. Chair Weyler then outlined committee procedures and expectations. He emphasized that Finance handles spending bills and fiscal notes, that bills will generally be heard by the full committee and then referred to the appropriate division, and that executive sessions may be used to save time when positions are clear. He reviewed rules on attendance, dress, phones, paperwork handling, committee replacements, conflict of interest and recusal, and the process for testimony, including that members should listen without debating witnesses and that sponsors of bills must recuse themselves from questioning witnesses on their own bills. He also described the committee’s structure and workload, noting three divisions and the role of legislative budget staff. Weyler said the committee would likely see bills from many policy committees that have fiscal impacts, and he encouraged policy committees to find offsets within their own areas rather than assume new spending will be added. No bills were heard and no votes were taken during this portion of the meeting.

Transcript Highlights:

• Justin Hurst, Department of Finance.
• George Harris, Department of Finance.
• Elena Powell, Department of Finance.
• Justin Hurst, Department of Finance.
• Finance, welcome. Good afternoon. Again, Devin Mitchell with the Department of Finance.

Summary: The committee heard the May Revision presentation for the Assembly Budget Subcommittee on Education Finance, with public comment focused heavily on K-12 priorities such as universal school meals, kitchen infrastructure, food service and custodial support, youth leadership grants, Special Olympics funding, English learner support, universal pre-K, literacy investments, and concerns about community college funding shifts. Speakers also urged support for expanded learning, teacher recruitment and training, and maintaining or increasing funding for community colleges and student support programs. Finance and the LAO then reviewed the Proposition 98 outlook. Finance said the May Revision lowers the 2025-26 Prop. 98 guarantee to $114.6 billion, about $4.3 billion below January, due mainly to lower revenue estimates, with smaller effects from attendance and property tax changes. The administration also described rebenching for universal transitional kindergarten and a one-time rebench tied to Los Angeles fire-related property tax losses, along with changes to the Public School System Stabilization Account, deferrals, and updated COLA assumptions. The LAO said the budget relies too much on deferrals and one-time funds, creates a structural shortfall, and should instead align ongoing spending with the guarantee and preserve a reserve buffer. Members questioned the TK rebench and the shift of funding from community colleges to K-12, asking why it was being applied retroactively and how colleges would be held harmless. Finance said the changes align funding with where TK costs are being incurred and that reappropriation funding and other adjustments would offset impacts on community colleges. The LAO argued the historical split formula is outdated and should be abandoned in favor of budgeting around current priorities rather than fixed percentages. Members also raised concerns about draining the rainy day reserve and using deferrals, while the LAO said preserving reserves would better protect against future volatility. The committee then moved to specific K-12 and education proposals. Finance outlined May Revision changes including state operations adjustments for the Department of Education, technical trailer bill changes, a $100 million student teacher stipend program administered by Kern County, and updates to the charter school facility grant program. The LAO recommended rejecting the proposed increases for expanded learning, literacy coaches, and the student teacher stipend as currently structured, while supporting the minimum grant increase for expanded learning. Members expressed support for teacher recruitment efforts but questioned whether one-time funding can sustain ongoing programs and whether the student teacher stipend should be targeted to shortage areas or low-income communities.

Transcript Highlights:

• I also like to thank our staff on the Finance Committee.
• I also like to thank our staff on the Finance Committee.
• working on special projects for finance working on special projects for finance and<00:43:11.520
• I'd also like to thank the honorable Finance Chair, Vice Chair, and the finance staff who are here today
• express my gratitude to the finance express my gratitude to the finance chair<01:19:49.880> Vice

Keywords: 910, house, all

Transcript Highlights:

• Justin Hurst, Department of Finance.
• Elena Powell, Department of Finance.
• Justin Hurst, Department of Finance.
• Department of Finance.
• Finance, welcome. Good afternoon again, Devin Mitchell with the department. of Finance.

Keywords: 988, house, all

Transcript Highlights:

• The Assembly Banking and Finance Committee is now called to order.
• Nico Molina, on behalf of Capitas and Rapid Finance, with the tweener position.
• Terrell and Veal Hunter, on behalf of the Revenue-Based Finance Coalition.
• Over time, these financing costs can consume a significant share of project budgets.
• It's an amazing wonder of our finance system.

Keywords: 988, house, all

Transcript Highlights:

• Yeah, we have a Senate Finance.
• President, and that’s why Senate Finance is still upstairs.
• Senator Woods, you also are a member of Senate Finance.
• A yes would send it to Senate Finance.
• Then the Senate Finance Committee. Senate Bill 99.

Keywords: 996, all

Transcript Highlights:

• Senate Bill No. 467, introduced by the Committee on Finance, revises provisions relating to cybersecurity
• Senate Bill No. 467, introduced by the Committee on Finance, revises provisions relating to cybersecurity
• Senate Bill No. 455, introduced by the Committee on Finance, reorganizes certain divisions within the
• Senate Bill No. 477, introduced by the Committee on Finance, makes an appropriation to and authorizes
• Senate Bill 480, introduced by the Committee on Finance, makes an appropriation to the Office of Finance

Keywords: 909, all

Transcript Highlights:

• > and the committee on agriculture finance and the committee on agriculture finance and policy
• It referred to state government finance.
• c> and the committee on housing finance and the committee on housing finance and policy.<00:29:53.039
• the Committee on Children and Families Finance and Policy.
• I recognize a health finance and policy.

Keywords: 1183, house

Transcript Highlights:

• Representative Fryberg moves that House File 1478 be recalled from the Committee on Elections Finance
• and Government Operations and be re-referred to the Committee on State Government Finance and Policy
• and policy I recognize the finance and policy I recognize the member<00:11:42.000> from<00:11
• committee on state government finance committee on state government finance and and and policy<00
• <00:13:00.959> committee the state government finance committee the state government finance

Keywords: 1183, house

Transcript Highlights:

• Senate Bill 48, introduced by Senator Stewart, an act relating to public finance, creating the community
• Senate Bill 49, introduced by the Finance Committee.
• Conservation Committee, then Senate Finance Committee. That's Senate Bill 49.
• I did get to ask some questions in the finance committee, and I appreciate the answers that I got.
• Senate Bill 79, having been ordered printed and referred to the Senate Finance Committee.

Transcript Highlights:

• This bill has been reported to Finance in each of the last two years.
• This bill has been reported to Finance in each of the last two years.
• It was reported to Finance by this committee.
• to Finance.
• This bill was reported to Finance in 2024 and 2025.

Keywords: 993, senate, all

Summary: The Senate Committee on Housing, Construction and Community Development met on February 10 and reviewed a largely recurring housing agenda, with the chair noting the meeting had been moved to Tuesday because of train delays and that a housing budget hearing was scheduled for February 25. Several bills were taken up that had passed the Senate in prior sessions or had been reported before, including measures on manufactured home park rent increases, first-home savings and grant programs, a mobile/manufactured home replacement program, closing-cost assistance for low-income tenants, protections against eviction for certified medical marijuana use, senior and disabled persons protections, fire code and housing standard penalties, a Manufactured Home Community Preservation Act, a public housing painters apprenticeship program, veterans with service-related disabilities receiving preferences in affordable homeownership programs, and a senior housing task force. One bill on an affordable independent senior housing assistance program was held at the sponsor’s request. Testimony and discussion were limited, with most bills moving on sponsor motions and seconded by other senators. There was brief clarification on the closing-cost assistance bill that it was intended for renters in public or subsidized housing, not people living with parents. Senators generally supported the measures, though some members voted in the negative or to advance without recommendation on several bills. Actions taken included reporting multiple bills either to the floor or to the Finance Committee. Among those reported to the floor were the manufactured home park rent bill, the medical marijuana eviction protection bill, the senior/disabled persons bill, the fire code and housing standards penalties bill, the veterans homeownership preference bill, and the senior housing task force bill. Bills on first-home savings, manufactured home replacement, closing-cost assistance, the first-home grant program, the Manufactured Home Community Preservation Act, and the public housing painters apprenticeship program were reported to the Finance Committee. The committee then adjourned.

Transcript Highlights:

• terms of it being a debt financing terms of it being a debt financing mechanism<00:22:33.880>
• But most of the rest of transit finance has evolved differently from highway finance, in that it is not
• But most of the rest of transit finance has evolved differently from highway finance, in that it is not
• But most of the rest of transit finance has evolved differently from highway finance, in that it is not
• finance evolved differently from Highway finance and<00:31:52.159> that<00:31:52.320> it

Keywords: 1183, house

Summary: The Transportation Working Group met on January 15, 2025, with Chair John Kosnik opening by saying the committee expected to pass a transportation bill this year and emphasizing efficient use of transportation revenues, maintenance of roads and transit, and safety. Members and staff introduced themselves, and several representatives noted their interest in roads, bridges, and regional transportation needs. Kosnik also said he had spoken with Representative Kel about leadership arrangements and stressed that bipartisan support would be needed for a transportation bill. House Fiscal Staff’s Andrew Lee and House Research’s Matt Burus then gave an overview of transportation finance, focusing mainly on highways and transit. Burus explained Minnesota’s highway funding structure, including the constitutional Highway User Tax Distribution Fund and the related Trunk Highway Fund, County State-Aid Highway Fund, and Municipal State-Aid Street Fund. He reviewed the main revenue sources: the motor fuels tax, motor vehicle registration tax, motor vehicle sales tax, portions of the general sales tax tied to auto parts, vehicle rentals and leases, and the retail delivery fee. He noted several changes from 2023 legislation, including indexing of the gas tax, creation of the Transportation Advancement Account, and the retail delivery fee, which began in July 2024 and therefore would affect fiscal year 2025 rather than the fiscal 2024 data shown. The presentation also covered how highway dollars flow through constitutional formulas, including the 95/5 split from the Highway User Tax Distribution Fund, with the 5 percent set-aside used for town roads, town bridges, and flexible highway purposes such as turnbacks. Burus distinguished trunk highway bonds from general obligation bonds and explained that both are debt-financing tools for transportation projects, but with different repayment sources and uses. No votes or formal actions were taken at this informational meeting.

Transcript Highlights:

• and Policy and be re-referred to the Committee on Elections Finance and Government Operations.
• and Policy and be re-referred to the Committee on Elections Finance and Government Operations.
• > and the committee on elections finance and the committee on elections finance and government
• Policy and be re-referred to the Committee on Human Services Finance and Policy.
• This bill is an appropriation to the Campaign Finance Board, so it should be within the Election Finance

Keywords: 1183, house

Transcript Highlights:

• Committee substitute for House Bill No. 381, Finance, by the House Finance Committee, entitled: An Act
• I made many thanks in Finance.
• There was further good work in the Finance Committee.
• The co-chairs, Finance Committee as well, put a ton of effort over the work... ...the co-chairs, Finance
• . ...the Finance Committee.

Keywords: 905, all

Transcript Highlights:

• Department of Finance.
• Department of Finance.
• Department of Finance.
• Department of Finance. Department of Finance. Matthew Perky, Department of Finance.
• Department of Finance. Matthew Perky, Department of Finance.

Keywords: 988, house, all

Transcript Highlights:

• <00:08:18.479> on division three in House Finance on division three in House Finance on Senate
• The last day to report on all finance.
• Full finance will meet again Thursday.
• welcome our vice chair of full finance welcome our vice chair of full finance Dan<00:11:18.959><
• <00:28:53.600> today, division three of House Finance today, division three of House Finance

Keywords: 928, house, all

Summary: Division 3 of House Finance met in a continued work session on Senate Bill 118, with no LBA present. The chair reviewed the bill’s complicated history: it began as a short Senate bill, was expanded in the Senate to address Hampstead Hospital and related contracts, and was later amended by the House Health and Human Services Committee to add the substance of House Bill 53, which would allow home cultivation of cannabis for therapeutic use. Members also discussed the bill’s timing against upcoming legislative deadlines and the available options, including recommending it ought to pass, retaining it, ITL, or amending it. A member asked about the $160,000 appropriation tied to Hampstead Hospital employees. Deputy Commissioner Marissa Hen explained that most of the money would cover accrued time owed to a small number of employees who transitioned through multiple staffing arrangements at the hospital, and the rest would honor previously promised bonuses for a few workers who would otherwise miss them after the transition to Dartmouth Health. She said the payments were intended to make employees whole after repeated changes in hospital management and staffing. Representative Stringham then offered Amendment 2345H, which would strip the House-added cannabis provisions and keep only the Senate-originated Hampstead Hospital-related sections. He argued this would improve the bill’s chances of surviving a gubernatorial veto and preserve the portions members broadly supported. The amendment failed on a 6-3 roll call. The committee then voted 6-3 to recommend the bill ought to pass without the amendment. Members also designated Representative Seaworth to speak for the majority and Representative Daniels for the minority when the bill reaches full Finance, and the work session adjourned.

Transcript Highlights:

• It is the state's affordable housing finance agency.
• First, I'd like... finance corporation.
• It is the state's affordable housing finance agency.
• And we say it's finance, finance, finance, finance.
• And we say it's finance, finance, finance, finance.

Summary: The committee met to hear a panel on workforce and attainable housing, with presentations from Florida Housing Finance Corporation, Pensacola Habitat for Humanity, Wendover Housing Partners, the City of Tallahassee, and Escambia County. Speakers described how state and local tools such as SHIP, the Live Local Act, land trusts, accessory dwelling units, infill development, and public-private partnerships are being used to expand housing supply and preserve long-term affordability. Several panelists emphasized that housing demand is rising across income levels, that workforce households often need subsidy to buy or rent, and that housing location, transportation access, and proximity to jobs and services are critical. They also highlighted challenges including rising construction costs, limited land, insurance, NIMBY opposition, and the need for more flexible financing tools and employer participation. Members asked about area median income thresholds, whether current programs are reaching the households most in need, and what additional tools might help. Florida Housing said its traditional rental programs generally serve households at or below 60% AMI, while need is increasingly reaching up to 80% AMI statewide and higher in some regions; staff also provided examples of AMI levels by county. Other discussion focused on the impact of local government opt-outs, tax abatements, corporate ownership of single-family homes, insurance costs, Fortified construction standards, and whether bonuses or other income calculations can unintentionally disqualify applicants. Panelists urged more political will, more local flexibility, and additional incentives for employers and landowners to support housing near jobs. The committee also used an anonymous interactive polling exercise, and members identified partnerships, SHIP funding, local government action, cost, and insurance as key issues. In closing, the chair said the committee would continue a member-driven process and likely hold a workshop on housing-related topics. No formal votes or bills were taken up in the meeting, and the session adjourned after the discussion.

Transcript Highlights:

• The Assembly Banking and Finance Committee is now called to order.
• Nico Molina, on behalf of Capitas and Rapid Finance, with the tweener position.
• Terrell and Veal Hunter, on behalf of the Revenue-based Finance Coalition.
• Over time, these financing costs can consume a significant share of project budgets.
• It's an amazing wonder of our finance system.

Summary: The Assembly Banking and Finance Committee met and first approved the consent calendar, which included AB 2028, AB 2425, and committee bill AB 2795, all sent to the Committee on Appropriations. The committee also noted that AB 2558 and AB 2746 had been pulled from the agenda. The chair reviewed hearing procedures, including acceptance of written testimony and rules against disruptive conduct. The committee then heard AB 2116, which would require registration and basic conduct standards for certain small-business financing providers, including merchant cash advance companies, and prohibit confessions of judgment and power-of-attorney provisions before default. Supporters argued the bill would close an oversight gap and improve transparency for small businesses; a small business owner testified that a purported 13% loan turned out to have a 235% APR. Opponents said the bill mixed consumer and commercial regulation and could restrict access to capital, though they supported banning confessions of judgment. The bill passed on a roll call vote and was sent to Appropriations. AB 2243, by Assembly Member Haney, proposed creating a state bank commission to study whether California should establish a state bank or other public financing tools. Supporters said a public banking model could reduce borrowing costs, keep more public money in-state, and better finance housing, infrastructure, and other public priorities; opponents from banking groups raised concerns about taxpayer exposure, deposit guarantees, and the use of public funds and existing lending structures. The bill passed and was sent to Appropriations. The committee also heard AB 2350, which would set guardrails on rent-now-pay-later products for rental housing; supporters said these products can lead to high fees, debt, and eviction risk, while industry groups opposed the bill unless amended. AB 2350 passed as amended and was sent to Appropriations. At the end of the meeting, the committee completed roll calls for absent members and adjourned.

Transcript Highlights:

• the House Government, Elections and Indian Affairs Committee, thence the House Appropriations and Finance
• Recruitment and Retention Act, providing for a program administered by the New Mexico Mortgage Finance
• Agriculture, Asset, Gas and Water Resources Committee, which is the House Appropriations and Finance
• House Appropriations and Finance Committee, Ranking Member D. Johnson (member_22651).
• Your House Appropriations and Finance Committee will meet at 1:30 in room 307. Members take note.

Transcript Highlights:

• financial plan on how to best Finance financial plan on how to best Finance the<00:47:23.359>
• and bond financing.
• and tax increment bond financing and tax increment financing, and that is a form of financing used in
• and tax increment bond financing and tax increment financing<00:53:55.760> and<00:53:56.079>
• You get tax increment financing. You have enough financing to build us a nice stadium.

Keywords: 912, senate, all

Summary: The committees considered a large number of Senate bills, with many measures advanced either unamended or with technical or substantive amendments. Early action included SB 88 and SB 11 SD1, both passed unamended, and SB 562 SD1 and SB 642 SD1, which were passed with amendments reflecting agency testimony. SB 1133 SD1 was amended to remove duplicative county requirements and clarify tax credit carry-forward eligibility, while SB 1569 SD1 on sports wagering was deferred. Later, SB 933 on nonprofit/federal funding support drew strong testimony from nonprofit and health advocates emphasizing the risk of federal funding freezes and the importance of protecting services such as early learning, domestic violence support, housing, and workforce supports; the committee recommended amendments to define eligible organizations, require reporting, and include the Judiciary. SB 934 and SB 935 were also amended, with SB 934 tying mass transit funding to Honolulu project milestones and SB 935 revising retirement-system language to change “fewer than five years” to “five or more years.” The committees then took up additional measures with targeted amendments. SB 1033 was amended to clarify that the bill applies to legal entities, not individuals, though members noted concerns about closely held family corporations and asked that the issue be reflected in the committee report. SB 1166, SB 1249, and SB 1256 were advanced with amendments or committee-report notes reflecting concerns from the Attorney General, Hawaii Cattlemen’s Council, and Hawaii Farmers Union United, respectively. SB 1432 and SB 137, both relating to electric utilities, were amended to require retention of covered employees after mergers or acquisitions and to direct the PUC to consider whether proposed transactions further state policy goals. SB 157 on antitrust was narrowed to focus on coordinator conduct in rental housing markets, SB 252 on invasive species received a defective effective date, and SB 336 on defense of state employers and employees passed unamended. SB 536 on the Hawaii Community Development Authority was deferred to a later hearing, and SB 1064 on medical cannabis was heavily amended to authorize cultivator licenses with limits on canopy size, license counts, physician fees, and a special-fund appropriation for enforcement. In the Ways and Means portion, the committee passed several bills unamended, including SB 19, SB 124, SB 264, SB 345, SB 422, and SB 741 and SB 747 later in the agenda. SB 361 was amended to remove references to the attorney general and delete an appropriation section, SB 438 was amended to redefine buffer zones and landfill-unit language, and SB 441 and SB 494 were amended to blank appropriations and, in SB 494, assign charter-school audit responsibility to the state auditor. SB 659 was substantially amended to promote local procurement, including county-level geographic preferences and higher thresholds for locally sourced purchases, and SB 732 was amended to adjust film tax credit provisions, including the streaming-platform definition and sunset-related language. SB 819 was amended to replace references to “educators” with “teachers.” Throughout, most measures were adopted without recorded opposition, though several members noted reservations on particular bills.