Video & Transcript Research : 'rate base'
Page 67 of 500
NH
Transcript Highlights:
- in order to stabilize the rates. in order to stabilize the rates.
- spent and rate reductions occur. spent and rate reductions occur.
- the regular rate. the regular rate.
- that we could pay a higher rate.
- into another community-based setting. into another community-based setting.
NM
Transcript Highlights:
- Ability to lower rates. Mr. Chair, and Roberto, Mr.
- How would Those things inter-rate. I am not an expert.
- They have to do rate filings. Those rate filings are Approved.
- Is it based on the 50? Is it based on the 100? Is it based on the person paying $2,000 a month.
- It's based on size as opposed to geography.
CA
California 2025-2026 Regular Session
Joint Hearing Budget Subcommittee No. 3 on Education Finance and Education Feb 10th, 2026
Transcript Highlights:
- So based on research, we know best practices.
- Those are in the RFA, so graduation rates, absenteeism.
- A-to-G rates rose from 27% to 60%.
- District-wide, Oakland Unified saw graduation rates increase from 70% to nearly 80%, and A-to-G rates
- So that was faith-based leaders, labor leaders, business partners, students, So that was faith-based
Summary:
The joint informational and oversight hearing focused on community schools in California, with members emphasizing that the purpose was to examine effectiveness, implementation, and sustainability rather than the Governor’s budget proposal. The California Department of Education described the California Community Schools Partnership Program, created in 2021 and funded with more than $4 billion, including planning, implementation, extension, and county coordination grants. Officials said nearly 2,500 schools are participating and highlighted the statewide technical assistance structure, including the State Transformational Assistance Center, eight regional centers, county offices, and CDE support.
Researchers from the Learning Policy Institute and UCLA presented early findings and implementation data. LPI reported reductions in chronic absenteeism and suspensions, along with gains in math and English language arts, with especially large benefits for Black students and other historically underserved groups. UCLA described the Annual Progress Report as a statewide improvement tool showing growth in capacity-building, shared decision-making, whole-child supports, and continuous improvement. Members asked about how the reports measure outcomes, how to interpret outliers, and how to distinguish community schools effects from other concurrent initiatives; presenters said matched comparison methods and deeper case-study work are being used, with additional statewide findings expected in June.
Panelists from Oakland Unified, LAUSD/UTLA, San Diego Unified, and advocacy organizations described key elements of success: integrated student supports, strong family and student engagement, collaborative leadership, community partnerships, and school-site decision-making. They gave examples such as wellness centers, dual enrollment, student senates, parent leadership, and community campaigns that built trust and increased participation. Members also raised concerns about sustainability, implementation fidelity, and whether community schools improve participation in LCAP processes. Presenters said major barriers include unclear early guidance, the need for a mindset shift away from top-down models, and uncertainty about long-term funding for coordinators and other staff. The panel’s recommendations centered on stable ongoing funding, stronger technical assistance, shared governance, and embedding community schools practices into district and county systems.
NM
New Mexico 2025 Regular Session
IC - Legislative Finance Nov 18th, 2025
Transcript Highlights:
- It has a 59% success rate.
- We are asking for a very modest increase in our general fund-based requests to cover GSD rate increases
- increases and the health insurance rate increases.
- GRT base.
- But the reality is mill rates cannot easily be changed.
NM
New Mexico 2026 Regular Session
House - Appropriations and Finance Jan 24th, 2026 at 09:09 am
House Appropriations & Finance
Transcript Highlights:
- base.
- But the reality of it is to increase that rate, either one of those rates by $5.
- And, you know, I think based on the study that HCA did, the 2024 Mercer rate study...
- That rate is at $20 an hour at the highest.
- You know, some of these services might get a rate increase based on the service, the rate increases that
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Ways and Means Jun 21st, 2026 at 11:00 am
Joint Committee on Ways and Means
Transcript Highlights:
- Literacy Launch is also supporting our community-based preschool educators through access to evidence-based
- At our community colleges, the average completion rate is 35%.
- First, completion rates reflect graduation rates of students enrolled in our community colleges in 2021
- curriculums to the community-based partners.
- There's the base funding, but there's also individual earmarks.
Summary:
The hearing was a Joint Committee on Ways and Means budget session held in Lawrence focused on the governor’s proposed FY27 education and local aid budget, with remarks from legislative co-chairs, local officials, and education agency leaders. Acting Mayor Giovanni Rodriguez and Superintendent Ralph Carrero emphasized Lawrence’s high-need student population, the importance of Chapter 70 and Student Opportunity Act funding, and the impact of state aid on schools serving many English learners and low-income families. Carrero highlighted Lawrence High School programs such as early college, dual degrees, career pathways, and early childhood classrooms embedded in the high school, while lawmakers introduced themselves and noted the importance of the hearing to their districts.
Acting Secretary of Education Amy Kershaw, Commissioner of Higher Education Noi Ortega, Commissioner of Elementary and Secondary Education Pedro Martinez, and Commissioner of Early Education and Care Amy Kershaw outlined the administration’s FY27 priorities. They described investments in literacy initiatives, universal school meals, student mental health, early college and career pathways, higher education affordability, community college and university student-success supports, preschool expansion, child care subsidies, and workforce supports for early educators. The commissioners also discussed federal funding threats, equity gaps, and the administration’s efforts to improve outcomes for Black and brown students, multilingual learners, students with disabilities, and low-income students.
Members questioned the panel about the local contribution formula study, the final year of Student Opportunity Act implementation, and the need to revisit Chapter 70 funding to better address rising costs such as special education, transportation, and health care. Officials said the local contribution study report is expected by the end of June, with a draft to be shared after data analysis and public comment. Commissioner Martinez said the Student Opportunity Act narrowed funding gaps but more work is needed, and he pointed to a proposed Accelerating Achievement Initiative to support the highest-need schools. Senator Oliveira also raised concerns about Chapter 70 disparities and asked about partnerships with libraries to support literacy, prompting discussion of broader early literacy collaboration.
NM
New Mexico 2025 Regular Session
Other - PSCOC Dec 11th, 2025
Public School Capital Outlay Oversight Task Force
Transcript Highlights:
- They were originally awarded 3 million for a system-based award.
- This MEM rate has been awarded annually over time.
- Based off the MEM, the PSCOC determines annually the MEM rate, which we apply to the MEM per school using
- We compare that to the second formula, which is based purely off of the base rent of the charter school
- maintenance fees or taxes, just the base rent.
TX
Texas 89th 2nd C.S.
Ways & Means
Transcript Highlights:
- So it's all variable based on what we know, and that's based on what we saw in last year's forecast.
- It may differ based on which T&D you're in.
- base ultimately.
- And they announced just about a month ago that they're going to lower their base rates because of data
- They have frozen rates for three years and now they will lower rates after that three year freeze because
HI
Hawaii 2025 Regular Session
EEP Public Hearing - Tue Mar 11, 2025 @ 9:00 AM HST
Energy & Environmental Protection
Transcript Highlights:
- <00:19:02.480>
what <00:19:02.679>rate improving the credit rating what rate improving - They're all based on point-in-time interest rate assumptions, and as you said, it's a dynamic situation
- If the fund accrues interest for the 10 years, you know, based on—I forget what interest rate we used
- <00:27:44.240>
we based on I forget what interest rate we based on I forget what interest - just and reasonable rates.
Summary:
The committee on Energy and Environmental Protection heard testimony on Senate Bill 897, which would create a Wildlife Liability Trust Fund within DCCA for administrative purposes. The chair opened by noting the hearing had to end by noon because of floor session, and that written testimony would be considered if not all witnesses could speak. Testimony included support from DCCA, the Attorney General’s office, the Public Utilities Commission, Charter Communications, Ulupono Initiative, AES Hawaii, Hawaiian Electric, Clearway Energy Group, Kauai Island Utility Cooperative, Hawaiian Telcom, and IBW Local 1260, with opposition or concerns from the Hawaii Association for Justice and some others. Hawaiian Electric strongly supported the bill and asked for amendments, saying the fund would help address wildfire liability, protect customers and the economy, and support restoration of investment-grade credit; it also proposed a larger shareholder contribution and said the bill was part of a broader effort to raise settlement funds and improve grid safety and resiliency.
Committee members focused heavily on whether the bill would actually lower costs for ratepayers and improve credit ratings. DCCA said there was a nexus between limiting liability, creating a sufficiently large wildfire fund, and transparent mitigation requirements, but acknowledged there was no guarantee of a credit-rating improvement or precise estimate of rate impacts. Members questioned Hawaiian Electric about the assumptions in its cost comparisons, the 30-year securitization structure, and whether funding could be shifted later to shareholders after credit was restored. Hawaiian Electric responded that the bill assumes the fund is paid through securitization, that removing that presumption could undermine the credit-rating benefit, and that its models suggest credit-spread savings could offset the customer charge over time; it also said it would follow up with additional analysis. The company and Ulupono both described the measure as a difficult but potentially necessary way to socialize wildfire risk and avoid a larger crisis later.
The Hawaii Association for Justice opposed the bill’s liability caps and raised concerns about consumer rights, oversight discretion, statute-of-limitations changes, and evidence rules. Hawaiian Telcom suggested amendments to clarify compliance with FCC pole-attachment agreements. No vote or final action was taken during the portion of the hearing provided, and members indicated they wanted more analysis before being comfortable with the bill’s long-term ratepayer impacts.
WY
Wyoming 2026 Regular Session
Joint Corporations, Elections & Political Subdivisions, May 21, 2026 - PM
Corporations, Elections & Political Subdivisions
FL
Transcript Highlights:
- And lastly, reducing our vacancy rates.
- When I started in the role, our vacancy rate was over 20%. It is now down to 8.9%.
- Conversation you had earlier about the value-based approach to health care.
- I think that Florida...” “...increase in customer rates.
- So it's a government-granted monopoly, and government sets the rates.
Summary:
The committee met to consider a large slate of appointments, with the main discussion centered on the confirmation of Chavon Harris as Secretary of the Agency for Health Care Administration (AHCA). Harris testified about her background in state service and outlined agency priorities including Medicaid financial accountability, transparency, managed care oversight, behavioral health redesign, rural health access, workforce recruitment, and use of technology and AI. Senators questioned her extensively about the Hope Florida/Medicaid settlement controversy, opioid settlement-funded advertising campaigns tied to marijuana prevention and the 2024 Amendment 3 election, public records compliance, abortion reporting and enforcement under the Heartbeat Protection Act, managed care denials, value-based purchasing, and Medicaid funding pressures. After debate, the committee voted to recommend her confirmation, with Senator Polsky voting no.
The committee then considered Anna Ortega and Robert Payne for the Florida Public Service Commission. Ortega, a current PSC commissioner and former staff advisor, discussed utility regulation, data center load issues, ratepayer protections, transparency in PSC decisions, and lessons from other states. Payne, a former legislator and longtime utility co-op employee, emphasized his technical background and the need to balance utility returns with consumer affordability. Both nominees were confirmed by unanimous or near-unanimous votes and recommended favorably to the full Senate.
Next, the committee heard from Jeffrey Aaron for reappointment to the Public Employees Relations Commission. Aaron described PERC’s role in public-sector labor disputes and said his work had been upheld in appellate courts without reversal. Senators questioned him about his law firm’s state contracts, his role as chairman of Attorney General James Uthmeier’s PAC, and his connection to the Hope Florida Foundation matter; he declined to discuss the pending investigation. Public testimony included opposition from Florida Voice for the Unborn. The committee nevertheless recommended his confirmation, with several no votes. Finally, the committee approved the remaining appointees on tabs 5 through 46 in a single vote, postponing Dr. John Littell and DCF Secretary Hatch, and then adjourned.
FL
Florida 2026 5th Special Session
FL House Floor Session - 2025-06-16 (7:00PM Session)
Florida House Floor Meeting
Transcript Highlights:
- Can you give me an idea of what super low rates means?
- It’s just in the base and it was continued.
- It’s just in the base and it was continued.
- It’s just in the base and it was continued.
- We are permitting funding beyond five years based on a future rule that we've... ...on five years based
Summary:
The House met on the final day of session, swore in Representatives Boyles and Hodgers, and observed a moment of silence for the Minnesota House Speaker Melissa Hortman and her husband, as well as for Representative Rosenwald’s father. The chamber then moved into final budget work, with leaders outlining the plan to take up H.J.R. 5019, HB 7031, HB 5017, HB 5015, and then the general appropriations act once the Senate transmitted it. H.J.R. 5019, a proposed constitutional amendment to expand the budget stabilization fund, was explained and amended to raise the rainy day fund cap, require annual deposits, and allow withdrawals for critical state needs by a two-thirds vote; it passed 100-1.
The House then adopted the conference report on HB 7031, the tax package. The bill repeals the business rent tax and aviation fuel tax, delays the natural gas fuel tax, creates or expands several sales tax holidays and exemptions, including permanent exemptions for disaster-preparedness items, hunting/fishing/camping items, and ammunition and firearms-related purchases, and makes changes to property, corporate income, local tax, and economic development provisions. Members debated the removal of recurring housing trust fund and transit-related revenue streams, the new ammunition exemption, and the data center tax changes; supporters argued the package reduces taxes and preserves annual budget flexibility, while opponents raised concerns about housing, transportation, and gun violence. The conference report passed 93-7.
HB 5017, creating a debt reduction program funded by a recurring transfer to retire state bonds early, passed unanimously. HB 5015, the state group insurance conforming bill, which directs DMS to develop a formulary management plan and codifies the administrative health insurance assessment, also passed. The House then began explanation and questions on the fiscal year 2025-26 general appropriations act, described as a $115.1 billion budget that is down $3.8 billion from the current year and includes more than $12 billion in reserves. Subcommittee chairs summarized major spending areas, including pre-K-12 funding increases, health care funding for Medicaid, KidCare, nursing homes, opioid treatment, and mental health, transportation and economic development funding, environmental and water projects, higher education, state administration, justice, and information technology. Questions focused on school vouchers, inflationary pressures on school districts, and the adequacy of funding for housing, transportation, and other priorities.
FL
Florida 2025 Regular Session
Fiscal Policy Apr 17th, 2025
Transcript Highlights:
- They will tell you that their comparability rate is based on the Fed funds rate, which is the deposit
- rate.
- payments based on the Fed funds rate, creating a huge discrepancy between bank profits and IOTA interest
- The amendment replaced the comparability rate with an objective, non-discretionary rate based on the
- rate.
MO
Missouri 2026 Regular Session
Joint Committee on Public Employee Retirement Apr 28th, 2026 at 08:30 am
Joint Committee on Public Employee Retirement
Transcript Highlights:
- the contribution rate in a one-year period.
- So as rates rise, bond prices fall.
- So I was not there at the time, but what I could say is based on the asset allocation and based on capital
- So I was not there at the time, but what I could say is based on the asset allocation and based on capital
- Rate and funded ratio.
Summary:
The Joint Committee on Public Employee Retirement held a hearing focused on the Missouri State Employees’ Retirement System (MOSERS) and its long-term financial condition. MOSERS staff and its investment consultant reviewed the system’s structure, membership, funding policy, and investment approach. They reported a June 30, 2025 funded ratio of 55.4%, with about $17.4 billion in liabilities and $9.6 billion in assets, and explained that the board certified a 32% employer contribution rate under its minimum contribution policy, up from 30.25%, which will increase state appropriations. They also described the system as mature, with more retirees and inactive members than active employees, and said declining payroll growth has made it harder to improve funding.
The presentation emphasized that recent board actions were intended to strengthen the plan over the long term, even though they increased near-term costs. Those changes included lowering the assumed investment return over time to 6.95%, updating mortality assumptions, moving from an open to a closed amortization schedule, and adopting a minimum employer contribution policy. The investment consultant said MOSERS historically used a more risk-balanced asset allocation than many peers, which helped explain weaker relative returns during a long period when public equities outperformed; the board has since shifted toward a more equity-oriented allocation. He said recent performance has improved, with the portfolio outperforming its policy index and ranking better against peers in the short term, though longer-term peer performance remains a concern.
Committee members questioned why the funded ratio had declined over roughly 20 years and whether past investment and actuarial assumptions were too optimistic or too conservative. MOSERS officials responded that the current board is trying to correct earlier decisions and that the present strategy is more in line with industry practice. Members also discussed a proposed MOSERS bill package that would automatically refund small balances to terminated non-vested members and increase deferred compensation auto-escalation, with officials saying the refund provision would improve efficiency and return small balances sooner. The committee also briefly discussed ongoing litigation involving Catalyst Capital; MOSERS said attorney fees have been about $20 million so far, the case remains on appeal, and the damages amount is sealed. No formal votes were taken, and the committee adjourned after questions and discussion.
FL
Florida 2026 Regular Session
Appropriations Committee on Higher Education Feb 12th, 2025
Appropriations Committee on Higher Education
Transcript Highlights:
- You can also see the pass rates here and the comparison to the U.S. pass rate.
- You can also see the pass rates here and the comparison to the US pass rate.
- in Florida. rate in Florida.
- Our PM pass rate is 96%.
- And our NCLEX rates went up.
Summary:
The Appropriations Committee on Higher Education met to focus on nursing education funding, workforce supply, and Florida’s low NCLEX pass rates. The chair emphasized that Florida ranks last nationally in nursing exam pass rates and said the committee wants to use budget decisions and a forthcoming nursing bill to improve outcomes. The Florida Center for Nursing at USF presented preliminary workforce and education data showing RN supply is moving toward equilibrium with demand through 2037, while LPN shortages are projected to worsen, especially in some regions. The center also reported on enrollment, retention, faculty vacancies, and NCLEX trends, noting Florida still underperforms the national average but has shown some recent improvement, including higher RN pass rates in 2024 despite fewer test takers. The center highlighted that students who test sooner after graduation tend to pass at higher rates.
A panel of nursing education leaders from public universities, state colleges, technical colleges, and private institutions described how prior state pipeline and line-item funding helped expand enrollment, simulation labs, faculty hiring, student support services, and partnerships with hospitals. UNF, Galen College, College of Central Florida, Keiser University, and Lorenzo Walker Technical College each reported strategies such as expanded simulation, mental health and social work support, test-prep and remediation, and efforts to grow faculty pipelines. Several speakers said faculty recruitment and retention remain major barriers because of salary competition with hospitals, faculty debt, and aging faculty. Technical college representatives also stressed the need to strengthen LPN pathways, English-language support, and LPN-to-RN bridge programs.
Members asked for ideas to improve NCLEX outcomes and discussed possible policy options, including student loan forgiveness, critical shortage supplements for faculty, incentives for students to test soon after graduation, and possible changes to timing or regulation around NCLEX eligibility. Several witnesses supported more flexible or recurring funding, while noting that one-time line funding has been useful for simulation, scholarships, and faculty support but is harder to sustain. The committee adjourned after the discussion, with the chair saying the ideas would be considered in future funding and policy decisions.
FL
Transcript Highlights:
- We know following the pandemic in the past three or four years, absenteeism rates... ...facing.
- On the low end, a handful of counties have the lowest rates.
- Others have absenteeism rates of about 50% of their students.
- And can be shown, and have been shown in some studies, to improve attendance rates.
- So we've got to be a little bit more creative with what we're doing as a school base.
Summary:
The committee met to discuss student attendance and chronic absenteeism in Florida K-12 schools, with Chair Simon outlining the state’s attendance requirements and intervention process, including school contact after unexcused absences, child study team review, district superintendent referral, DJJ family services referral, truancy petitions, and possible parental prosecution and driver’s license consequences. Dr. Chris Curran of the University of Florida presented statewide data showing chronic absenteeism has risen sharply since the pandemic, with Florida at about 31.4% in 2023–24, and noted that absenteeism varies by district, school level, demographics, and urbanicity. He emphasized that causes are multifaceted—ranging from transportation, mental health, housing instability, safety concerns, and family circumstances—and said effective responses include early warning systems, text or phone outreach, multi-tiered interventions, mentoring programs like Check & Connect, and community partnerships. He also cautioned that punitive responses alone are often less effective than addressing root causes and keeping students engaged academically even when they miss school.
Collier County Superintendent Leslie Ricciardelli described her district’s attendance efforts as a priority supported by attendance specialists, social workers, mental health staff, home visits, attendance contracts, and extensive parent communication. She said Collier’s chronic absenteeism rate was about 9% in 2023–24 and attributed success to consistent monitoring, family outreach, and community support, while stressing that students must be physically present to learn. She also argued that many absences are tied to barriers such as clothing, transportation, childcare, or family mental health, and that districts need resources to address those issues. Dr. Rachel Dawes added that Collier uses multilingual brochures, attendance awareness campaigns, vacation-planning guidance, door tags, automated calls and letters, and a truancy flow chart, with truancy court used as a last resort.
Volusia County Executive Director Mike McAuliffe described a districtwide overhaul that included an attendance matters campaign, automated notices sent early and often, same-day and period-by-period notifications, a data dashboard, and tiered supports through MTSS. He said Volusia reduced chronic absenteeism from 34% in 2023–24 to a projected 29% and reported a first-quarter rate of about 20% in the current year. He highlighted community partnerships, including AdventHealth support for washers and dryers, bikes for students with transportation barriers, and monetary recognition for schools that reduce absenteeism. In response to questions, both district leaders emphasized that funding, staffing, and consistent follow-through are essential, and that attendance work is most effective when paired with family engagement, data monitoring, and practical supports rather than punishment alone.
MN
Transcript Highlights:
- Here's a list of those property tax class rates for that adjusted net tax capacity tax base.
- 19% of the tax base.
- base.
- base.
- base.
Summary:
The committee first approved the January 21st minutes by voice vote. Members then resumed a school finance overview focused on how Minnesota’s “base” budgeting system works and how future committee targets are set above or below that base by the Ways and Means chair, in consultation with fiscal staff. Staff emphasized that school funding decisions are tied to the state budget base and that changes made by the tax committee can affect school levies and school finance more broadly.
The presentation then turned to property tax fundamentals. Staff explained that roughly 65% of school district revenue comes from state aid and about 20% from property taxes, with property tax revenue applying to school districts rather than charter schools. They reviewed the two main school tax bases—referendum market value and adjusted net tax capacity—along with class rates, sales ratios, and equalization. They also described tax credits, especially the school building bond agricultural credit, which helps reduce the property tax burden on agricultural land in Greater Minnesota.
Members discussed student choice programs and how funding follows students. In response to questions from Representative Quam, staff explained postsecondary enrollment options (including direct enrollment and College in the Schools) and online learning, noting that funding generally follows the student to the serving institution or district. Staff also reviewed Minnesota’s pupil-counting system, including average daily membership and pupil weighting, and explained that students attending charter schools, other districts through open enrollment, or online programs are counted where they are served.
The presentation concluded with broader school finance context: funding sources, equity and adequacy goals, constitutional and statutory authority, and the state’s school data systems (EUP/FARS, MARS, and STARS). Staff also began reviewing long-term enrollment trends, noting the impact of the baby boom, later growth from the mid-1980s through about 2000, and projected modest declines in public school enrollment through 2029.
TX
Texas 89th Regular
Appropriations - S/C on Articles VI, VII, & VIII Feb 24th, 2025
Appropriations - S/C on Articles VI, VII, & VIII
Transcript Highlights:
- Based on the based on the law both at the state and federal level. Okay. So that's happening.
- on a contractual rate and may only use these funds to pay the contract the agency 26 The seven base
- There are things that can be done based on the recommendation of Sunset or based on practices that don't
- Y'all are under the microscope based upon actions of. outside actors, what in the base bill do you need
- So it's supporting kids in faith-based care, as you've heard before, home-based care.
CA
Transcript Highlights:
- , please raise our rates.
- or home- or risk- or property-risk-based.
- Homes, California-based company, came forward in partnership with IBHS and put together. based company
- we've actually cut the rate filing times.
- And have that be science-based, facts-based, that we know works so that we take your money and that we
Summary:
The Senate Committee on Insurance held an informational hearing on how climate change, wildfire risk, and related catastrophes are affecting California’s insurance market, affordability, and availability. Chair and members framed the issue as a statewide challenge tied to resiliency, land use, utilities, legal liability, and the FAIR Plan. Senator Becker noted the hearing was connected to SB 254 and its recent report, while the Vice Chair emphasized that the state’s current regulatory framework limits flexibility and that industry testimony would also have been useful.
Amy Bach of United Policyholders described worsening availability and affordability, driven by climate impacts, insurtech/risk scoring, inflation, and the growth of surplus lines coverage. She said the Sustainable Insurance Strategy is beginning to show progress, but the FAIR Plan remains too large and non-admitted carriers create concerns because they are less regulated and do not share FAIR Plan or guaranty fund obligations. She stressed that mitigation incentives, grants, and voluntary insurer rewards for wildfire-hardening are important, but that many households cannot afford the needed improvements. In response to questions, she said underinsurance remains a major problem, especially after recent fires, and suggested stronger insurer responsibility for replacement-cost estimates or broader replacement-cost endorsements.
Actuary Nancy Watkins and Stanford’s Michael Wara argued that California must both reduce wildfire risk and allow actuarially sound pricing if it wants a healthier market. Watkins compared the market to a household with rising expenses and said the state needs a mitigation framework focused on the highest-risk communities, especially older neighborhoods and homes near the wildland-urban interface. Wara said premiums must roughly equal expected claims plus expenses, and that California is “burning down too many houses,” which drives both availability problems and higher rates. He highlighted the role of structure-to-structure spread, older housing stock, utility ignitions, and the need to focus on community hardening, not just vegetation management. Both speakers said mitigation should be targeted, science-based, and sustained rather than one-time or scattered.
Frank Freebalt of Cal Poly and Michael Gullner of UC Berkeley continued the discussion on fire modeling and risk reduction. Freebalt said the problem is best understood as a structure ignition and urban conflagration problem, requiring integrated land-use, utility, and community mitigation, with evidence-based priorities and better analytics. He emphasized that the state should focus on the highest-risk intersections first and that targeted mitigation can multiply the effectiveness of suppression and evacuation resources. No votes or formal actions were taken; the hearing was informational and focused on testimony, questions, and policy discussion.
NM
New Mexico 2025 Regular Session
IC - Legislative Finance Dec 8th, 2025 at 09:12 am
Transcript Highlights:
- Rate on the right-hand side of slide 12.
- But growing at a lower rate than previously expected.
- Have they said we're going to end up in our rating on ratings this year? Mr.
- Well, that in the long term will save us with a higher bond rating and a lower interest rate.
- rates, federal postage rates, things Like that, that are again really not so much within our control