Transcript Highlights:

• And so I saw two questions posed in the analysis.
• Right now, the fiscal impact has not been identified through this bill and this analysis, but we would
• I wanted to give you an opportunity to respond to the analysis on page four of our analysis, almost at
• Right now, the fiscal impact has not been identified through this bill and this analysis, but we would
• and the analysis and I'll give you an opportunity to respond to the analysis, this is on page four of

Summary: The Assembly Education Committee held an informational hearing on AB 715, followed by discussion of SB 48. AB 715 was presented by Assembly Members Zbur and Addis as a response to rising anti-Semitism in California schools. They described incidents involving harassment, swastikas, biased classroom materials, and students feeling unsafe, and said the bill would create an Office of Civil Rights with coordinators to address anti-Semitism and other forms of discrimination, provide prevention resources, and support school districts. Witnesses in support, including a rabbi and a student who described personal experiences with anti-Semitic harassment, urged immediate action to protect Jewish students. Opposition testimony came from the California Teachers Association, county superintendents, school board groups, labor organizations, civil liberties advocates, ethnic studies educators, and many community members. Their main concerns were that the bill was rushed, had not been fully vetted in the Assembly Education Committee, and could chill classroom speech or create constitutional problems, especially around language requiring instruction and materials to be “factually accurate” and not based on advocacy, bias, or partisanship. Several opponents argued that anti-Semitism should be addressed through education, training, and restorative practices rather than new statutory restrictions. Some witnesses also raised concerns about the bill’s impact on ethnic studies and free speech. Committee members then debated the bill’s process and substance at length. The authors said the bill had been narrowed through negotiations with education stakeholders and the Senate, that some disputed provisions would be revisited in cleanup language, and that the urgency of anti-Semitic incidents required action now. Several members expressed support for the bill’s goal but criticized the late release of the final language and the lack of consultation with the Assembly committee. Others emphasized the need to protect Jewish students immediately and argued the bill was a necessary response to a real crisis. The transcript does not show a final vote on AB 715 in the portion provided.

Transcript Highlights:

• working<00:02:45.440> on There are discussions of whether we implement this in the next fiscal
• > or<00:04:22.240> if<00:04:22.400> we<00:04:22.479> wait um in the next fiscal
• year or if we wait um in the next fiscal year or if we wait until<00:04:22.960> 2028.
• We don't want to do that, but we're trying to incentivize for these guys to come in, get analysis with
• We don't want to do that, but we're trying to incentivize for these guys to come in, get analysis with

Keywords: Government Structure - Room 216, 29 January, 2026; 4:30 PM, 925, all

Summary: The committee first took up Senate Bills 2625 and 2636, both described as part of a broader effort to strengthen state cybersecurity. SB 2625 would create a state chief information officer at the governor’s office level to coordinate IT and cybersecurity policy across agencies. Members and the sponsor said it was a conceptual work in progress, and the committee added a reverse repealer before reporting the bill out as a committee substitute with a do pass recommendation. SB 2636 would create a Department of Cyber Security focused on law enforcement and post-attack response, including investigators and coordination with DPS, the auditor’s office, local jurisdictions, and federal partners. Supporters said the goal was to improve collaboration, protect taxpayer information, and separate network protection and recovery from criminal investigation. Some members questioned whether the new department would overlap with existing IT and law enforcement functions, but sponsors said it was intended to clarify responsibilities rather than duplicate them. The committee added a reverse repealer and reported the bill out as a committee substitute with a do pass recommendation. The committee also considered SB 2632, which would delay action on state disaster recovery funding while awaiting federal changes from FEMA/MEMA. The sponsor said the bill would give the state time to evaluate new federal disaster recovery rules and determine the best approach for Mississippi. The committee added a reverse repealer and reported the bill out as a committee substitute with a do pass recommendation. Finally, the committee heard SB 2817, a Department of Public Safety reorganization bill. It would move the Bureau of Investigation, narcotics, homeland security, and the forensic lab under the State Bureau of Investigation to streamline command and allow more flexible staffing. It would also preserve a telecommunications fee, raise autopsy and salvage inspection fees, and continue discussion of DPS police powers. After questions about the autopsy fee and whether the reorganization would save money, the committee adopted a do pass motion. The chair also noted that SB 2673 would be studied further over the next year before any final action.

Transcript Highlights:

• within the biennium for the same purposes. in fiscal year 2027.
• So TCEQ wants to be fiscally responsible with taxpayer dollars.
• Turning to section 3, Selected and Fiscal Policy Issues on page 3.
• We're trying to be as fiscally responsible as we can.
• And in the last two fiscal years, we traveled over 25 million miles.

Keywords: 1184, house, all

Transcript Highlights:

• So we did a lot of analysis and studies before setting established rates, trying to minimize the flexibility
• So we did a lot of analysis and studies before setting established rates, trying to minimize the flexibility
• Has Access submitted a complete network adequacy and access assurance report for fiscal year 2025 to
• Has Access submitted a complete network adequacy and access assurance report for fiscal year 2025 to
• But I want to go back to the network adequacy and the access assurance fiscal report that should be 2025

Keywords: 1182, all

Summary: The Committee on Health and Human Services held another oversight hearing on Access, focusing on fee-for-service behavioral health management, prior authorization and claims processing, the Targeted Investment Program (TIP), and network adequacy. The chair and other members criticized Access for repeated transparency failures, including missing records related to the Covered Behavioral Health Services Guide, lack of public comment, unanswered questions about ARPA compliance, and concerns about ghost networks and delayed payments to providers, especially in Native communities and rural areas. Interim Director Roberta Harrison said Access had improved fraud controls after the sober living scheme crisis and acknowledged the need for modernization. She reported faster prior authorization processing, fewer denial codes, real-time dashboards, additional staffing, and claims processing under 30 days. She also said the agency wants more fraud referrals and is working to strengthen internal systems and communication. On the TIP program, Access officials explained that payments are delayed because of complex data validation and allocation across many provider sites; they said year one of TIP 2.0 was paid, but years two and three had not yet been distributed. The committee requested a formal plan within 30 days for paying the estimated $122 million in delayed TIP funds and asked for CMS-related documentation. Committee members also questioned Access about a direct contract with Constellation for claims processing, noting language in the proposal suggesting higher ROI from denying more claims; Access said that language was not part of the contract scope and was verbally rejected. On network adequacy, officials described time-and-distance standards, annual MCO reports, and internal review processes, but could not immediately confirm whether a fiscal year 2025 report had been submitted to CMS or whether any corrective action plans had been imposed. The chair concluded that Access’s improvements appeared to be driven by legislative pressure, said the committee would review the information received, and announced that Access would be sent detailed monthly reporting directions before the hearing adjourned.

Transcript Highlights:

• Because what you're referring to is, if you look on page three of the bill analysis, it gives you the
• That might be something, page three of the bill analysis, that might be something that we would have
• to transitioning from the federal poverty level to state median income and minimizes the potential fiscal
• Members, both the House and Senate voted off their respective floors last week, their fiscal year 25-
• The first spreadsheet is the fiscal year 25-26 budget side-by-side.

Summary: The Pre-K Through 12 Budget Subcommittee met with a quorum and took up three bills, along with a brief budget conference-prep presentation. The first bill, CS/HB 1483 on school grading and student supports, would gradually align Florida’s school grading scale with the familiar A-F student grading scale over a 10-year glide path, add school report card transparency on the percentage of students reading at grade level, expand interventions for students with substantial reading and math deficiencies through VPK through grade 8, and create a competitive grant for diverse books in K-5 classrooms and libraries. Supporters argued the current school-grade scale is misleading and that the bill would improve transparency and supports; some members raised concerns about impacts on turnaround schools, community perception, and whether the bill adequately captures student gains. The bill passed 12-2 and was reported favorably. The committee then considered CS/HB 859 on the School Readiness Program, which revises the definition of “economically disadvantaged” for eligibility purposes. The bill originally moved from 150% of the federal poverty level to 65% of state median income, but three amendments were adopted to create a glide path and reduce fiscal impact by using 50% of state median income or 150% of poverty, whichever is greater, and by deleting an obsolete section. Public testimony was overwhelmingly supportive, emphasizing child care as workforce infrastructure and a lifeline for working families. The bill passed unanimously, 14-0, and was reported favorably. Finally, CS/HB 1607 on cardiac emergencies in schools would require AEDs in every Florida school, including charter schools, require CPR/AED training, and create a pulse-saving plan with rulemaking authority for the State Board of Education. Proponents cited alarming statistics about sudden cardiac arrest on campuses and argued that rapid AED access can save lives; supporters from the American Heart Association, PTA, and cardiology groups backed the measure. Members spoke in strong support, and the bill passed unanimously, 14-0, and was reported favorably. The meeting ended with a budget presentation explaining that House and Senate FY 2025-26 budget, appropriations project, and proviso side-by-sides had been distributed ahead of conference, followed by adjournment.

Transcript Highlights:

• this bill is is a transition framework for public safety protection measures and guardrail against fiscal
• If you read the bill analysis, it talks about enclaves.
• notices such as affidavits for attorneys with this alternative, and I don't know if there'll be a fiscal
• Representative Gantt asked about the fiscal impact.
• The bill analysis shows it will have a positive fiscal impact on local government.

Transcript Highlights:

• The program is fiscally constrained and it's based on a forecast of potential... potential revenues that
• Okay, so what was the, do you know what the fiscal note was on this bill?
• Have you all done any analysis on that whatsoever? We did not conduct.
• Financial analysis, but we did conduct a number of advisory committee meetings. to receive feedback from
• Total revenue for fiscal year 2024 was $96 million of this amount.

Keywords: 1184, house, all

Transcript Highlights:

• So the current plan would not have a change in the number of vessels until fiscal year 2031, and the
• The vessels are scheduled to arrive in the summer of 2030, which is fiscal year 2031, and then 2031 and
• Is that an analysis something that has been done, or that we can do?
• We haven't done, to my knowledge, any specific analysis like that.
• And it's so bad that our analysis showed that it had really not the capacity to hold itself up.

Summary: The committee received a detailed staff presentation on Washington State Ferries’ capital needs, current fleet status, and long-range funding outlook. Staff described the current service pattern, ridership recovery since the pandemic, the aging fleet, and the state’s plan to add three new hybrid-electric Olympic-class vessels under the 2025 budget, with delivery expected around 2030-2032. Members also heard that the fleet is operating with no reserve vessel, that preservation time is below the desired level, and that terminal electrification and vessel conversion plans face timing, cost, and procurement risks. Questions focused on ridership trends, biofuel supply, design-risk allocation in vessel contracts, sequencing of terminal electrification with new vessel delivery, and the cost and feasibility of restoring international Sidney service, which would require a SOLAS-certified vessel. Staff then outlined ferry capital funding, saying recent spending and programmed needs are far above regular ferry-specific revenues and that the system relies on a mix of dedicated accounts, transportation package money, federal grants, and transfers. They said the near-term budget is balanced through 2027-29, but the longer-term capital outlook shows a shortfall of roughly $250 million to $300 million per biennium, with broader unmet needs much higher. The presentation estimated costs for future vessels, life extensions, terminal electrification, and additional Jumbo Mark II conversions, and noted that the current enacted plan does not fully fund fleet replacement, full electrification, or life extension of older vessels. Members asked for follow-up information on terminal seismic/environmental issues, contract options for additional vessels, and the timing and cost of alternative vessel designs. The committee then shifted to WSDOT maintenance and preservation. Pascoe Focktich described maintenance operations, including winter response, guardrail repair, facilities, equipment, and the effects of underfunding and inflation. He said most of the maintenance budget is fixed cost and labor, that material prices have risen sharply, and that many facilities are in poor condition with asbestos issues and deferred upkeep. He also noted growing guardrail damage, increasing pavement claims, and the burden of maintaining aging bridges and facilities. Members asked about prior planning for these needs, the role of asbestos, and whether more proactive sequencing could help budget decisions. Troy Suing then presented the highway preservation program, saying WSDOT is in the early stages of critical failure and has stretched preservation dollars as far as possible. He explained the distinction between pavement, bridge, and other highway asset preservation, said the department is largely reactive, and estimated that delaying work can make it three to five times more expensive later. He said about 40% of roadways are currently due or overdue for preservation, bridge conditions are nearing the federal poor-bridge threshold, and the department’s 10-year preservation need is about $8 billion. Members asked about the cost of deferring work, whether the department could do more if funded, how priorities are set, and whether other states face similar problems. Finally, Evan Grimm and Mike Fay briefed the committee on bridge strikes by overheight vehicles. They described recent incidents on I-90 near Cle Elum and SR 410 near White River, the damage and closures caused, and possible countermeasures such as public outreach, improved trip-planning tools, and a pilot warning system with sensors and flashing beacons. Fay explained the state’s financial recovery process for third-party damage, saying WSDOT recovers roughly $20 million per biennium and about 78% to 80% of billed damages, with money going to the motor vehicle fund. Members asked about prevention, insurance recovery, and whether the state uses claim data to inform future design or safety changes.

Transcript Highlights:

• Is there a fiscal note on the bill? No, there's not. Okay, thank you. Yeah, thank you very much.
• It's got a negative fiscal note. Why is that? Well, the fiscal note is...
• So on the fiscal analysis, the bill would add a requirement for a minimum of five work search activities
• I know that you've reviewed the fiscal note on your bill. Yeah, I'm familiar, yes.
• So on page three of the fiscal note, the fiscal note goes on to say, again, in response to no market

Summary: The Senate opened with an invocation by Pastor Tedrick Woods, followed by routine chamber actions including excusing Senator Gutierrez and receiving House messages that the House had passed HB 21 and HB 49. Senators also recognized advocates visiting the gallery on focal segmental glomerulosclerosis awareness and introduced the Doctor of the Day. The chamber adopted several resolutions, including HCR 66, by voice vote. The Senate then took up and passed a series of measures, often by suspending the regular order and the constitutional three-day rule. Among the bills finally passed were HJR 2, which would prohibit state death taxes; HB 206, limiting counties from requiring cash bonds for pipeline construction; HB 517, barring property owners associations from fining homeowners for discolored vegetation during watering restrictions; HB 2756, requiring TDCJ correctional officers to receive de-escalation and behavioral health training; HB 451, expanding screening for commercial sexual exploitation risk among children in DFPS and TJJD custody; SB 705, cleaning up the air conditioning and refrigeration contractors advisory board; SB 2017, creating an offense for burnouts and wheelies; SB 1858, expanding body armor grant eligibility to ISDs; SB 1400, directing a study on transfer-student outcomes for community college funding; SB 2764, requiring notice to manufactured home buyers about converting homes to real property; SB 748, a licensing cleanup bill on laser hair removal; SB 2519, restricting certain ad valorem tax uses and bonds after amendment; SB 2878, the courts bill with amendments on Brazoria County courts and youth diversion provisions; SB 466, allowing families to request fetal death certificates at any gestational age; SB 1608, requiring timely physical exams for inpatient mental health admissions; SB 1730, limiting civil damages claims arising from certain uses of force or deadly force; SB 2417, clarifying Attorney General antitrust investigation work product and discovery rules; and SB 1946, creating a family violence, criminal homicide prevention task force. The Senate also passed HB 3204, renaming and updating the Polytechnic College at Sam Houston State University, and SB 1986, requiring opioid warning labels. Several bills drew brief debate or amendments. Senators discussed broader HOA reform while considering HB 517, and SB 2203 on TCEQ discovery procedures was amended to require party motions, set a 15-day expiration for certified issues, and limit hearing abatement. SB 2017 was amended to change the mens rea language from knowingly to intentional. SB 2519 was narrowed by amendment to a forward-looking policy statement separating maintenance-and-operation taxes from debt-service taxes. SB 2878 also received amendments to reduce the number of new Brazoria County courts and add youth diversion and crisis-response provisions. SB 466 prompted a floor debate over whether fetal death certificates are appropriate for pre-20-week losses, with supporters emphasizing family closure and opponents arguing the document has no estate-related purpose. SB 1730 also prompted questions about the relationship between criminal findings and civil liability in self-defense cases. The session concluded with additional House and Senate measures being signed in the presence of the Senate and continued consideration of SB 2177, a grant program to help local law enforcement solve violent and sexual offenses.

Transcript Highlights:

• And then Care for Now Coalition. fiscal accountability so that we can fiscal accountability so that we
• >> You know, I think that BNF has definitely the fiscal tracking.
• Establishes requirements for bill impact analysis.
• Establishes requirements for bill impact analysis.
• the analysis. the analysis.

Bills: HB1617

Keywords: carbon emissions, tax credit, fossil fuel, agriculture, food security, environmental tax, greenhouse gas, 910, house, all

Summary: The committees heard testimony on HB 1949, which would create a public dashboard for the green fee to improve transparency and accountability. Testimony from the Climate Change Mitigation and Adaptation Commission, the Office of Planning and Sustainable Development, and many community and conservation groups was generally supportive, with several speakers urging that the governor’s project recommendations remain largely intact and that community-driven projects continue to guide spending. One amendment was suggested to place the dashboard at the Department of Budget and Finance for fiscal expertise, while other testimony favored keeping it with the commission. Members asked about procurement, ETS involvement, recurring hosting costs, and whether the dashboard could be funded from green fee revenues; the commission said it could work with ETS and that green fee funds could reasonably be used. The committees then voted to pass HB 1949 with amendments. The committees also heard HB 2618, which would require the governor to submit a separate bill for amounts tied to any increase in the transient accommodations tax and, in later discussion, was expanded into a broader restructuring of future green fee allocations. Testimony from the Climate Change Mitigation and Adaptation Commission, Hawaii Reef and Ocean Coalition, and others supported the bill and emphasized the value of more predictable, dedicated funding for conservation and climate-related work. During decision-making, the chair described amendments creating several special funds under DLNR, including a watershed biodiversity and wildfire risk reduction fund, an aquatic resources conservation fund, a coastal restoration fund, a cesspool conversion revolving loan fund, and a green fee special fund for remaining revenues, with recommended amounts discussed for some of the funds. The committees voted to pass HB 2618 with amendments. The hearing then moved to HB 1644, a consumer protection measure for residential solar sales that would require compliance with consumer protection laws, licensing or contractor affiliation for sellers, and a standardized disclosure form. Testimony in support came from the Hawaii Green Infrastructure Authority, DCCA’s Office of Consumer Protection, Kauai Island Utility Cooperative, the Hawaii Solar Energy Association, and several solar companies and individuals. Supporters said the bill would address complaints about third-party sales practices and improve disclosure, especially around financing. The committee then began hearing HB 2243, which would require electric utilities to provide public, electronic customer bill impact analyses and annual reports to the Public Utilities Commission; the Division of Consumer Advocacy and the PUC offered comments supporting the measure’s intent.

Transcript Highlights:

• So this measure would uncomplicate things for MOA and make it more straightforward for the next fiscal
• <00:11:50.480> for<00:11:50.640> the<00:11:50.800> next<00:11:50.959> fiscal
• more straightforward for the next fiscal more straightforward for the next fiscal year.<00:11:52.240
• <00:30:33.360> uh completing actal and legal analysis uh completing actal and legal analysis
• up our garbage in the final analysis. up our garbage in the final analysis.

Bills: SB2198, SB2140, SB3055, SB3090, SB3091, SB3092, SB2761

Keywords: workforce development, craftspersons, skilled trades, artisan, craftsmanship, trade recognition, award program, DLIR, Department of Labor and Industrial Relations, Meilleur Ouvrier de France, vocational education, career pathways, cultural preservation, workforce excellence, apprenticeship, Hawaii trades, economic diversification, public nominations, governor awards, historically significant venue

Transcript Highlights:

• In the staff analysis, there were several.
• You know, I could go on if you read the analysis.
• And I'd like to read to you also in the analysis.
• So you make a determination, a return on investment analysis, and you decide, is this a good analysis
• So you make a determination, a return on investment analysis, and you decide, is this a good analysis

Summary: The Senate convened with a quorum, opened with prayer and the Pledge of Allegiance, and included several member introductions recognizing guests, interns, firefighters, and a doctor of the day. The chamber then moved to the special order calendar and began taking up a series of bills, often substituting House companions for Senate measures before final passage. The first major bill, health care patient protection, required hospitals with emergency departments to adopt pediatric emergency care policies, training, a pediatric emergency care coordinator, and readiness assessments; it passed 36-0. A public records bill protecting victim identities and temporarily exempting the name of a law enforcement officer who is a victim also passed after questions about access for victims of police misconduct, with a 33-4 vote. The Senate next approved a local government cybersecurity bill creating a state-administered program through Florida Digital Service to help counties and cities strengthen cyber defenses, with priority for rural and fiscally constrained governments; after amendments, it passed 37-0. A clerks of court bill allowing clerks to retain all revenue above projections and, through a House amendment, revising legal notice and traffic citation distribution provisions, passed 38-0 despite debate over impacts on municipalities and law enforcement. The chamber also passed a trademark modernization bill and a septic system permit bill intended to reduce delays for builders; the septic bill was amended to align the House and Senate versions and passed 38-0. The longest and most contested item was the elections bill, which updated citizenship verification procedures using REAL ID and state databases, changed candidate qualification rules, and altered election administration provisions. Numerous amendments were offered and rejected, including proposals to exempt certain seniors, preserve student and retirement-center IDs, allow attestations in place of documentary proof of citizenship, and require human review over automated systems. One amendment to delay implementation until July 1, 2027, was also debated. The transcript ends while debate is still underway on the elections measure, with no final vote shown in the excerpt.

Transcript Highlights:

• Call the meeting of the Legislative Audit and Fiscal Review Committee to order.
• So when determining fiscal year 25's 25% spending cap, you would take fiscal year 24's ending fund balance
• And that would equal your cap for fiscal year 25.
• So we would have just looked at fiscal year 2024 and 2025.
• Chairman, and Representative Nathe, I did testify last week at the fiscal, or at, I did do a fiscal statement

Keywords: 908, all

Transcript Highlights:

• SV Beckl, House Fiscal.
• in fiscal year 25.
• Uh and then in fiscal in fiscal year 25.
• This is $842,000 in fiscal years 26 and 27 and $1.114 million in fiscal years 28 and 29.
• Pel about the fiscal analysis? If not, Ms.

Bills: HF1646, HF2443

Keywords: medical debt, debt relief, healthcare financing, consumer protection, financial hardship, commerce, cannabis, insurance, housing, ombudsperson, affordability, property, task force, financial institutions, 1183, house

Transcript Highlights:

• Left unspent, that surplus carries over into fiscal years '28 and '29.
• Now, corporate profits are now forecast to grow 9.5% in fiscal year 2026.
• In fiscal year 2027 and beyond, corporate profits are forecast to show minimal growth.
• > claims<00:26:09.720> from Through an analysis of claims from Through an analysis of claims
• That fiscal discipline on this forecast.

Keywords: 1187, senate, all

Transcript Highlights:

• HOW THIS WORKED AS A TWO PERCENT QUALITY WITHHOLD FOR THE METRIC WAS APPLIED BEGINNING WITH FEDERAL FISCAL
• HER FEDERAL FISCAL YEARS 21/22 AND 22/23, REGIONS TWO THROUGH 11 MET THEIR TARGETS AND RECEIVED THEIR
• QUALITIES WITHHOLD FOR THE METRIC AND THEN FOR FEDERAL FISCAL YEAR 23 OR 23/24 MARCH 03, 2011 MET THE
• AND INTERPRETATION THE METHODOLOGY DATA RESULTS, THEY WERE YOUR ANALYSIS AND PLANNED INTERVENTIONS BECAUSE
• THIS ANALYSIS RESULTED IN 136 LEDS IN THE AMOUNT OF 12,814,000. NEXT WE HAVE COMPLAINTS GRIEVANCES.

Transcript Highlights:

• The process to review would be that PSFA staff would conduct a comparative analysis of the original award
• And I just want to make sure that we find that balance between fiscal responsibility and usable spaces
• Granted, we do need to do analysis, and if there's not enough information to make a determination today
• So, we're still doing analysis on it, and keep in mind, Mr.
• Is what the new projects for fiscal year 26 moving forward.

Transcript Highlights:

• I do think the cost-benefit analysis would be prudent. Any other discussion?
• I do think the cost-benefit analysis would be prudent. Any other discussion?
• If we look at the fiscal year-to-date return of 10.6%, we compare that to the opportunity cost benchmark
• Fiscal year-to-date, 3.1%.
• And we made sure that we refreshed our memory as to the even greater number of interviews and analysis

Summary: The committee met to approve prior minutes and receive updates on the Legacy Fund transparency website and fund performance. Staff reported the website procurement was in contract negotiations, with a planned go-live around November 1, and that the site would provide downloadable, more transparent information on fund holdings, allocations, history, and legislative appropriations while protecting confidential data. The investment office then reviewed performance through January 2026, describing strong returns relative to benchmarks, noting real estate and fixed income as weaker areas, and explaining that the fund’s diversification and internal management had helped offset market volatility, including recent geopolitical impacts. Members also discussed the in-state investment program, especially the Bank of North Dakota’s CD-match allocation. Several members questioned whether the program had been static for years and whether the uncommitted balance should remain parked there if it was not being used. The committee voted to pause further transfers into the program until the Bank provides a report and the committee can consider possible statutory changes; the motion also requested a cost-benefit analysis from RVK, and it passed by roll call vote. In the afternoon, RVK presented its review of the investment policy statement as it relates to the in-state investment program. The consultant said it found no major policy impediments, and that implementers and stakeholders generally felt the program was proceeding as intended. RVK emphasized best practices such as third-party due diligence, competitive risk-adjusted returns, diversification, pacing, and exit strategies, while cautioning that required lower-return investments or spending commitments can create pressure on the fund’s long-term real value. The consultant also raised ancillary concerns about state-level concentration risk, the need to distinguish between public and commercial infrastructure, and the lack of a central repository for all state funding commitments to the same projects.

Transcript Highlights:

• <00:03:58.560> State<00:03:58.799> fiscal these funds within 30 days.
• State fiscal these funds within 30 days.
• I have asked them for detailed actuarial analysis. They have told me they're very close.
• So I am waiting for a I have asked them for detailed actuarial analysis.
• It is the language I presented to them, and it is the analysis that they have.

Keywords: Finance - Room 216, 2 February, 2026; 3:00 PM, 925, all

Summary: The committee first heard a bill concerning tax increment financing (TIFs). The sponsor explained that the measure would not change the existing financing structure, but would add an optional arrangement cities could negotiate with developers: a revenue bond guaranteed by taxes generated from the development. The goal was to let developers guarantee the bond and access funds sooner on the front end of a project rather than waiting to see whether tax revenues meet projections. After no questions, the committee adopted a motion that the title was sufficient and reported the bill out do pass as a committee substitute. The next bill, Senate Bill 2873, came from the Department of Revenue and dealt with enforcement of the state’s vape registry law. The sponsor said the bill fills a gap left by prior legislation by creating a statutory forfeiture process for seized products valued at $20,000 or less, including notice, a right to contest, and rules for disposition of forfeited property. The committee then moved the bill title sufficient and do pass, and it was reported out. Senate Bill 2894 addressed local improvement projects funded in 2021 through 2024 that had not been executed or had unspent money remaining. The bill would require return of certain funds after a memorandum of understanding was not signed or after three years with unspent balances, require remittance of unspent interest, allow withholding of some city diversion or state aid road funds for noncompliance, and require periodic status reports to the Legislative Budget Office. The sponsor also offered an amendment giving entities 60 days from the bill’s effective date to request a one-time six-month extension; the amendment and the bill both received favorable votes and were reported out. Senate Bill 2910 would require employers in the PERS system to settle the books if a unit of government or other employer terminates participation. Senate Bill 2911 proposed a new return-to-work option for PERS retirees, shortening the separation period from 90 days to 30 days and allowing certain retirees to return to public employment at up to 80% of the stated salary, with employer-paid retirement contributions and possible health insurance support. The sponsor said the bill would exclude elected officials, K-12 superintendents, and IHL/community college administrators, and he discussed the bill’s expected effect on PERS funding with questions from members about actuarial impact and whether the proposal would affect existing retirement rules. Both bills were discussed but the transcript excerpt does not show final committee action on Senate Bill 2911.

Transcript Highlights:

• There is, again, you know, a bit of a fiscal impact there.
• But online, we can find the MFA analysis that has since been submitted.
• But online, we can find the MFA analysis that has since been submitted.
• So they are, they were, and just because they haven't gotten in their analysis yet.
• The analysis is available online right now. It is. And so I was reading from... Yeah.

Bills: SB36, SB88, SB92, SB97, SB48, SB55, SB58, SB76, SB93, SB89, SB60

Keywords: quantum technology, tax credit, infrastructure, economic development, New Mexico, corporate tax, research and development, innovation, foster care, income tax, guardianship, youth services, financial relief, affordable housing, gross receipts tax, tax deduction, construction materials, multifamily housing, low income, tax credits