Transcript Highlights:

• from these volcanoes does not do any damage to volcanic activity because there’s such a gigantic surplus
• from these volcanoes does not do any damage to volcanic activity because there’s such a gigantic surplus
• from these volcanoes does not do any damage to volcanic activity because there’s such a gigantic surplus
• from these volcanoes does not do any damage to volcanic activity because there’s such a gigantic surplus
• from these volcanoes does not do any damage to volcanic activity because there’s such a gigantic surplus

Keywords: 1189, house, all

Transcript Highlights:

• There could be something called excess and surplus coverage, but I talked to one of our leading underwriters

Keywords: House Committee Room C, General Assembly Building, 976, house, all

Transcript Highlights:

• unclear if this amount is actually needed to support the associated cost, or rather, if there is a surplus

Summary: The Pre-K through 12 Budget Subcommittee met for its first meeting of the 2025 session and received an overview of add-on weights in the Florida Education Finance Program (FEFP), followed by a Department of Education presentation on a legislatively required study of add-on weight funding and expenditures. The chair explained that add-on weights apply to acceleration and career programs such as AP, IB, ACE, CAPE, dual enrollment, early graduation, and certain small-district needs, and noted that add-on funding has grown substantially as the base student allocation increased. The chair also raised concerns that the department’s report did not clearly show whether districts’ reported costs included the full costs required by the proviso, and asked for more specificity on any recommended adjustment to the weights. Deputy Commissioner Suzanne Pridgen said the department surveyed districts on how they spent add-on revenue for fiscal years 2021-22 through 2023-24, with categories including teacher compensation, materials, equipment, professional development, exam fees, counseling, apprenticeship costs, and other expenditures. She said most add-on funds were spent on teacher bonuses and compensation, with AP, ACE, CAPE, and dual enrollment showing the largest increases in spending in 2023-24 due to higher FEFP funding; IB and early graduation were relatively flat. The department reported that add-on revenue covered between 41.8% and 79.2% of total program expenditures in 2023-24 and recommended adjusting add-on weights to better align with pre-2023-24 funding relationships, though no specific percentage was given during the meeting. Members asked about how “other” expenditures were categorized, whether teacher compensation included only statutory bonuses, how dual enrollment tuition and fees were counted, the small district factor, and whether the weights incentivize districts to offer advanced programs. The department clarified that teacher compensation in the study referred only to bonuses, that some “other” costs included charter school payments and dual enrollment tuition/fees, and that the small district factor is 1.0277, increasing base funding by 2.77% for fiscally constrained counties. No votes were taken, and the meeting adjourned after the presentation and questions.

Transcript Highlights:

• And so what they're having to do is go see coverage in the surplus lines market, which is very, very
• having to do is go see coverage<00:15:33.720> in<00:15:33.959> the<00:15:34.240> Surplus
• <00:15:34.759> lines<00:15:35.160> Market coverage in the Surplus lines Market coverage
• in the Surplus lines Market which<00:15:35.720> is<00:15:35.959> very<00:15:36.279>
• <00:25:40.799> lines the Surplus lines the Surplus lines Market<00:25:42.799> but<00

Keywords: 928, house, all

Summary: The committee took up HB 297 with a non-germane amendment proposed by the Insurance Department to create the Granite State Home Mitigation and Resiliency Program. Commissioner DJ Beton explained that the program is intended to help homeowners reduce rising insurance premiums and avoid surplus lines coverage by funding proactive home and property improvements such as roof fortification, exterior and foundation work, flood protection, and tree removal. He said the proposal was developed after leadership asked for more statutory detail and for the idea to be vetted through policy committees rather than handled only in the budget process. Beton said the program would be funded by the first $1 million collected annually from the insurance premium tax, with grants of up to $10,000 awarded on a first-come, first-served basis. He described the program as modeled on similar efforts in other states, with means testing tied to the Department of Energy’s weatherization/home heating assistance criteria. He also said the department would administer the program using one existing staff position, with coordination through Treasury, and that unspent funds would roll over for several years before reverting to the general fund. Members asked about the unusual use of a non-germane amendment and how the bill would be handled procedurally, since the underlying bill and the new insurance proposal were unrelated. The chair explained that the amendment was being used as a vehicle to move the department’s proposal through the committee process and that the committee could later accept one part, both parts, or neither. No vote was taken in the portion of the meeting shown; the discussion ended with questions about administration, staffing, and the relationship between the underlying bill and the amendment.

Transcript Highlights:

• collections the state can receive in a given year, before which it owes refunds to taxpayers for any of the surplus
• outstanding obligations, making sure you're adjusting for other revenue losses, you're spending any surplus
• initiative petitions 25-17, H. 5006, an act relative to limiting state tax collection growth and returning surplus

Keywords: 995, all

Summary: The Special Joint Committee on Initiative Petitions held a public hearing on two proposed ballot initiatives: one to reduce the state personal income tax rate from 5% to 4% over three years, and another to revise the state’s tax collection cap/62F process so it would be based on prior-year collections plus wage growth and include surtax revenue. The committee chair and House co-chair outlined the hearing process, and the first witness was Doug Howgate of the Massachusetts Taxpayer Foundation, who testified as the committee’s subject-matter expert on both measures. He said the income tax proposal would lower taxes broadly but would reduce state revenue by about $5.4 billion when fully implemented, with an estimated $800 million hit in FY27, and he discussed possible effects on competitiveness, taxpayer savings, and public finances. On the 62F proposal, he said the revised cap would make refunds more likely, could have produced several large refunds in recent years, and would reduce stabilization fund deposits and constrain recovery after recessions. Committee members questioned Howgate about competitiveness, outmigration, prior tax ballot measures, spending growth, MassHealth, and the interaction between the income tax and surtax. He emphasized that taxes are only one part of the state’s overall competitiveness and that housing, public services, and other factors also matter. He also noted that the surtax is constitutionally restricted but can still support ongoing spending choices. After his testimony, the committee moved to the proponents’ panel. Proponents of both initiatives, including representatives from Taxpayers for an Affordable Massachusetts, the National Federation of Independent Business, Pioneer Institute, and the Mass Opportunity Alliance, argued that the measures would improve affordability, help retain residents and businesses, and support job growth. They cited polling support, outmigration, small-business reinvestment, and comparisons to lower-tax states such as North Carolina. Their economist, Rebecca Paxton, said her model showed smaller revenue losses than critics claim and projected that the revised revenue cap would not create additional annual revenue losses while producing more regular taxpayer refunds. Committee members pressed the panel on competitiveness, prior ballot initiative implementation, and whether the measures would actually address broader affordability pressures; the hearing ended with the committee continuing to take questions from the proponents.

Transcript Highlights:

• they only get the 80/20 split that 5% somewhat as a bonus during years that we hit that $18 million surplus
• in perpetuity, they only get the 80/20 split as a bonus during years that we hit that $18 million surplus
• perpetuity; instead, they only get the 80/20 split as a bonus during years that we hit that $18 million surplus

Keywords: 927, senate, all

Transcript Highlights:

• For example, in addition to these three topics, there's a surplus property suggestion.
• For example, the click-through, which is the limitation of liability language, and the surplus property
• For example, the click-through, which is the limitation of liability language, and the surplus property

Summary: The task force reviewed survey results from state agencies on potential statutory revisions, with Levi reporting 70 proposals from 20 agencies and noting that about 33 might become agency pre-file bills. Members discussed the need to share the survey more broadly within higher education and to better coordinate issues involving IT and other cross-agency functions. The task force then heard from the Office of Management and Budget on three topics: concessions, architect/engineering pre-qualification, and legal notices. OMB said the concessions law is outdated and inconsistent with current practice, and suggested a collaborative rewrite to allow best-value evaluation, raise the threshold, and standardize solicitation templates. On architect/engineering pre-qualification, OMB proposed expanding authority beyond current state-agency limits and creating uniform templates. On legal notices, OMB proposed modernizing publication requirements, exploring online and abbreviated notices, and working with newspapers and other stakeholders on technology and accessibility improvements. Members asked about where concession revenues go, whether political subdivisions must follow the same rules, and how to move from discussion to action. The task force agreed to have OMB work with Legislative Council and affected stakeholders to develop bill drafts, and the motion passed unanimously. The University of North Dakota then presented a series of proposed revisions focused on public buildings and procurement. UND asked to rework the definition of construction so routine maintenance and one-for-one replacements over $250,000 would not automatically trigger public-improvement requirements, suggested raising the threshold to $500,000, and asked for more flexibility based on project complexity and risk. UND also proposed changes to public bid advertisements to reflect electronic bidding, revisions to construction manager-at-risk selection criteria, changes to architect/engineer procurement rules, an increase in the direct-hire design threshold, and a higher legislative-consent threshold for privately funded projects. The task force supported having UND work with counsel and OMB to develop bill drafts, and that motion also passed. The Department of Public Instruction concluded with proposed cleanup to credentialing and education statutes. DPI recommended reviewing its credential categories for relevance, possibly transferring credentialing authority to the Education Standards and Practices Board, removing outdated school safety patrol language, clarifying waiver provisions, and updating dyslexia screening reporting requirements so the statute reflects current practice. Members focused mainly on whether the dyslexia reporting requirement should remain, and DPI said the screening itself would continue even if reporting language were revised. No votes were taken on DPI’s suggestions, and the task force recessed after the presentation.

Transcript Highlights:

• can help me with this as well: we're pretty, well, in the past, we've been fairly robust in having surplus
• set aside—and maybe that's what the gas tax does—but if we were to set aside $1.5 billion of our surplus
• funds... ...to set aside $1.5 billion of our surplus funds for roads as an endowment, and you could

Keywords: 996, all

Transcript Highlights:

• And now this mistake has been found, and we have, I won't use the word surplus.
• And now this mistake has been found, and we have, I won't use the word surplus.
• mind, the number we're now talking about in the bottom line is, I wouldn't call it a balance or a surplus

Keywords: 959, house, all

Transcript Highlights:

• Chu and Finstad will allow federal banking associations to invest up to 15% of their capital and surplus
• Currently, banking rules allow financial institutions to invest Up to 15% of their capital and surplus
• But small business investing rules cap these same investments far lower at just 5% of capital and surplus

Keywords: U.S. House of Representatives Floor Proceedings on Monday, February 24, 2025, 1012, house, all

Transcript Highlights:

• In 2012, a portion of UGRE surplus funds has supported construction of nine water and sediment control
• The others first of all on your financials for 24 under surplus Plus funding, it's showing up on your
• I guess you spent 515,000 out of surplus in 24, 25, you budgeted another 589 out of surplus.
• And with the size of the state surplus, it's- It is concerning that we would be forced to that option
• And so if someone has a need or surplus of its access to neighbors that were impacted, then people can

Keywords: 997, house, all

Transcript Highlights:

• Senator Avila: To identify a surplus of affordable housing in order to opt out of the Live Local exemption

Keywords: 999, senate, all

Transcript Highlights:

• And so we we engage in an exercise to look at how much surplus money we think we would have at the end

Transcript Highlights:

• On Intergovernmental Affairs HB 2426 by Garcia Bay relating to the assessment of the use of surplus government

Transcript Highlights:

• Bearer relating to the assessment of the use of the surplus government property to provide houses to

Keywords: 1184, house, all

Transcript Highlights:

• THE TRANSFER MECHANISM AS YOU MENTIONED IS A WAY TO HAVE AN AUTOMATIC TRANSFER OF SOME SURPLUS FUNDING
• DEPENDING ON WHAT IS OCCURRING IN A BIENNIUM THERE CAN BE SOME SURPLUS MONEY THAT WOULD GO INTO THIS
• maximum amount that's going to be transferred to this account, because $50 million is emptied and the surplus
• , the next surplus forecast comes around.

Keywords: 1187, senate, all

Transcript Highlights:

• They have about three and a half million in surplus.
• They have about three and a half million<02:42:52.880> in<02:42:53.200> surplus.
• > If<02:42:54.640> this<02:42:54.880> bill<02:42:55.200> goes million in surplus
• If this bill goes million in surplus.

Keywords: 981, all

Summary: The Senate convened with a quorum, approved the journal, and received a series of engrossing/revising/enrolling notices and committee reports. Committee reports advanced several measures, including House Bills 1139 and 1263 from Business, Labor, and Technology; House Bills 1206, 1111, and 1014 from Finance; and later Appropriations reports on House Bills 1423, 1419, 1276, 1256, 1015, and Senate Bills 189, 188, 187, 180, and 125. The chamber also granted a brief recess for guests and later granted leave for the Joint Budget Committee to meet while the Senate was in session. A major portion of the meeting was devoted to tributes and personal privilege remarks. Senators recognized the University of Denver men’s hockey team for winning the 2026 NCAA championship and adopted a joint Senate-House tribute honoring the team’s 11th national title. Senator Kolker also marked Tardive Dyskinesia Awareness Day/Week, describing the condition, the need for screening and treatment, and honoring a guest advocate living with TD. The Senate then moved through third-reading consent and final-passage votes on multiple bills. Measures passed included SB 181, HB 1338, HB 1344, HB 1336, HB 1227, HB 1314, HB 1282, HB 1317, HB 1078, SB 167, HB 1069, HB 1132, HB 1347, HB 1210, HB 1196, HB 1224, and HB 1028; HB 1028 was first removed from the consent calendar, amended with a conforming amendment, and then passed. Several bills drew notable opposition, including HB 1132 and HB 1210, while HB 1069 passed unanimously. The Senate also laid over the general order second-reading calendar to Friday, May 8, 2026, and took up special-order second-reading bills in committee of the whole, adopting the special-order consent calendar and reporting those bills back favorably for further consideration.

Transcript Highlights:

• And also, if you're not including the inflation, leaves about $1.8 billion of surplus into 2028-2029.
• inflation, leaves about $1.8 billion the inflation, leaves about $1.8 billion of<00:59:22.160> surplus
• of surplus of surplus uh<00:59:23.680> into<00:59:24.120> 2028-2029.

Keywords: 1187, senate, all

Transcript Highlights:

• We had a golden opportunity in 2023 with some $18 to $20 billion surplus, and we blew it.
• opportunity in 2023 with some 18 to 20 opportunity in 2023 with some 18 to 20 billion billion billion surplus
• <00:07:26.000> And<00:07:26.240> now<00:07:26.479> we're surplus and we blew
• And now we're surplus and we blew it.

Keywords: 1183, house

Transcript Highlights:

• discussion today specifically because in this legislature the fact that we went from an 18 billion surplus
• went<00:57:49.799> from<00:57:50.799> 18<00:57:51.119> billion<00:57:51.520> surplus
• /c><00:57:52.240> down<00:57:52.480> to<00:57:52.799> a went from 18 billion surplus
• down to a went from 18 billion surplus down to a six<00:57:54.040> billion<00:57:55.400> deficit

Keywords: 1187, senate, all