Transcript Highlights:

• away, often leaving beneficiaries in the dark about their status.
• When beneficiaries come forward to claim funds, they... ...in the dark about their status.
• When beneficiaries come forward to claim funds, they face barriers to access.
• The bill applies not only to nonprofit beneficiaries, but to every beneficiary.
• The decedent, right, to do their own estate planning to notify their beneficiaries of their assets.

Committee: Senate Judiciary

Transcript Highlights:

• Beneficiaries have to spend money, thousands of dollars, and months of time.
• and obtain a discharge without going to court unless, of course, a beneficiary objects.
• Beneficiaries have to spend money to thousands of dollars and months of time.
• and obtain a discharge without going to court unless, of course, a beneficiary objects.
• If the beneficiary does object, they can easily opt out with a simple, If the beneficiary does object

Bills: S0326 , S0598 , S0632 , S0786 , S1110 , S1256 , S1380 , S1588 , S7042 , S7044

Committee: Senate Banking and Insurance

Summary: The Banking and Insurance Committee met with a quorum present and temporarily postponed SB 7042 on legal tender and SB 1380 before taking up the remaining agenda. The committee first reported favorably C.S. for SB 326, which modernizes Florida’s curator statute in probate law by clarifying when curators may be appointed, what they may do, and what oversight applies. It then reported favorably SB 1256, which standardizes PBM pharmacy audits by requiring uniform audit standards, scope, frequency, penalties, and due process protections for pharmacies; testimony from pharmacists emphasized concerns about conflicts of interest, excessive audits, and disproportionate penalties, while preserving fraud investigations. The committee also reported favorably C.S. for SB 598 on funeral and cemetery services after adopting an amendment that removed provisions on civil damages caps and phasing out direct disposers; the bill updates licensure and contract rules and addresses unclaimed remains. SB 632, which sets insurance requirements for transportation network companies during the period after a ride is accepted but before pickup, was reported favorably despite opposition from an attorney who argued the existing coverage framework should not be reduced. C.S. for SB 786, creating a nonjudicial process to close out undisputed trusts and discharge trustees, was also reported favorably. The committee then took up SB 1110, a major bill expanding Medicaid and private insurance coverage for medically necessary orthotics and prosthetics, including activity limbs, and requiring annual reporting. After adopting an amendment clarifying eligible recipients, the committee heard extensive emotional testimony from amputees, parents, and advocates describing the medical, developmental, and financial importance of prosthetic coverage, and members spoke in strong support before the bill was reported favorably. Later, the committee considered SB 1588, which implements last session’s legal tender law by refining definitions, narrowing custodian provisions, eliminating unnecessary examination requirements, and repealing the sunset clause; members raised questions about verification and anti-money-laundering concerns, but the bill was reported favorably. Finally, the committee approved SPB 7044 as a committee bill to expand public records exemptions to records relating to newly regulated custodians of gold and silver. The meeting concluded with senators recording additional affirmative votes on selected bills and adjourning.

Transcript Highlights:

• So... ...in addition to education for the beneficiaries.
• That would be bumpy for the beneficiaries and fairly quick.
• So I think it would be disruptive, potentially, to providers and beneficiaries.
• That would be bumpy for the beneficiaries and fairly quick.
• So I think it would be disruptive, potentially, to providers and beneficiaries.

Committee: All ALC-HOSPITAL, MEDICAID, & DEVELOPMENTAL DISABILITIES STUDY SUBCOMMITTEE

Summary: The subcommittee met to hear from DHS Secretary Janet Mann and Mary Franklin on Arkansas’s upcoming Medicaid community engagement/work requirements for the Our Home expansion population. DHS said the federal changes, tied to the 2025 budget bill, are being soft-launched now, with full implementation set for January 1, 2027, and a shorter six-month renewal cycle for most adults. They outlined who would be exempt or excluded, including certain parents/caretakers, pregnant and postpartum individuals, former foster youth, people with disabilities or serious medical conditions, SNAP/TANF participants, inmates and recent releasees, and some others. They also explained compliance standards such as 80 hours per month of work, community service, work programs, or education, and discussed how income, student status, and caregiver hours would be counted. Members asked about the fairness of the income threshold, how part-time and non-credit education would be verified, how disability exemptions would be documented, and whether appeals would be available. DHS said notices include appeal rights and that it is using ex parte data checks, provider forms, and claims data to identify exemptions. A major theme was implementation capacity and outreach. DHS said it is preparing a customer service center and outbound verification system to contact beneficiaries by text, email, phone, and mail, and is using notices, social media, town halls, and a web page to inform recipients. Members raised concerns about manpower, low-tech access for people without internet, and whether beneficiaries could be connected to workforce or education opportunities rather than simply being screened for compliance. DHS said it is also expanding use of AI tools to automate routine eligibility tasks, while keeping a human in the loop, and that the new call center contract will include AI and closed-loop referrals. Members also asked about the interaction with SNAP/TANF work rules and whether local offices could connect clients to workforce and training resources; DHS said it is already doing some of that through SNAP E&T, TANF, and notices, and is discussing broader partnerships with Workforce Connections and local initiatives. The committee then shifted to Arkansas Medicaid expansion and the state’s waiver renewal. Secretary Mann said CMS has changed its budget neutrality rules, and Arkansas believes its current waiver will not meet the new standard. DHS has asked for a two-year extension and said it is optimistic coverage will continue on January 1 while a new delivery system is worked out. Members asked about possible alternatives, and DHS said it is considering fee-for-service and managed care options, including different managed care structures, but is not considering ending coverage for the expansion population. Questions also focused on possible effects on private insurance, hospitals, premium tax revenue, and state costs if the expansion population were moved off the current model. DHS said it is still modeling those impacts with actuaries and the Insurance Department. At the end, DHS also provided a brief update on assisted living reimbursement rate work, saying the cost report is out for public comment and a recommendation will follow. The chair closed by reviewing committee timelines, noting the DHS report is due in January and the workforce report is due to ALC on October 1, with a possible request for a short extension.

Transcript Highlights:

• There are notice requirements in the bill in case that beneficiary passes, and then any overpayments
• case that beneficiary passes or and<00:27:36.279><c> you</c><00:27:36.399><c> know</c><00:27:36.559>
• </c><00:27:53.799><c> you</c> You could change a beneficiary.
• What I don't understand about this is, is this specifically referring to adding the beneficiary as a
• </c><00:32:25.440><c> run</c> to is this a direct beneficiary run to is this a direct beneficiary run

Summary: The committee first approved the prior month’s minutes after a roll call established a quorum. It then heard testimony on a draft proposal from Senator Robbie Mills to increase CERS retiree health subsidies for members retiring on or after July 1, 2003. The bill would raise the non-hazardous subsidy from $14.63 to $40 per month per year of service and the hazardous-duty subsidy from $21.94 to $50, with employee contribution rates adjusted based on the health trust’s funded status. Supporters from sheriffs, firefighters, police chiefs, and the Kentucky League of Cities said the change would improve recruitment and retention, better align the subsidy with the cost of a single health plan, and preserve the system’s financial footing through shared employer-employee costs and funding triggers. Committee members asked about the fiscal impact, the effect of funding levels above 150%, and how the subsidy would work for rehired retirees or employees who later take private-sector jobs. Mills and other witnesses said preliminary actuarial work was still forthcoming, that the bill was intended to be revenue-neutral or close to it, and that the subsidy would continue to be paid monthly; they also noted existing 2008 rules for rehired retirees and said the benefit would still be available even if a retiree later had other insurance. One member suggested looking at stable accounts as an additional option for special-needs planning in a later bill. The committee then heard Senate Bill 58 from Senator Robin Webb, which would allow state employees to designate a Special Needs Trust as a beneficiary for retirement benefits. Webb said the measure would help employees provide for disabled dependents without jeopardizing SSI or Medicaid eligibility, and that the bill follows federal special-needs trust rules. He said the proposal could be revenue neutral, but actuarial analysis was still pending and KPPA had asked for electronic rather than paper transfer provisions. Members questioned whether the authority already exists, how the trust would work, and whether stable accounts should also be considered; Webb said he would follow up with additional information.

Transcript Highlights:

• And last question, I assume that the bank is always the beneficiary of these policies.
• The bank's the owner and a beneficiary. It's an asset of the bank. Okay.
• The bank endorses over the right to name a beneficiary on a portion of the death benefit.
• The death benefit is split between the bank and the employee, for his or her beneficiary.
• The death benefit is split between the bank and the employee for his or her beneficiary.

Committee: House Insurance

Summary: The House Insurance Committee met on May 12 with a quorum present and first took up Senate Bill 341, which would expand the Louisiana churches and nonprofit religious organizations self-insured fund from property-only coverage to broader commercial coverage, including liability, contents, wind and hail, and loss-of-use protections. The sponsor and Department of Insurance said the bill was the product of agreement among the parties and was intended to help churches and nonprofits, including smaller congregations, obtain affordable coverage. After adopting technical amendments, the committee reported SB 341 as amended without objection. The committee then considered Senate Bill 509 on bank-owned life insurance (BOLI), which would clarify insurable interest and allow exchanges of underperforming policies. The sponsor, industry representatives, and the Department of Insurance discussed how banks use these policies for employee benefit funding, the role of 1035 exchanges, consent requirements, and concerns about federal tax issues and state insurable-interest language. Because the parties were still working toward a solution, the committee adopted a technical amendment but voluntarily deferred SB 509 until the following week. Finally, the committee heard Senate Bill 464 on coverage for severe obesity treatment, which would create a framework for partially implementing the bariatric surgery mandate based on available appropriations. The sponsor and the Department of Insurance said the bill would let the state cover a proportional share of expected surgeries if only part of the required funding is provided. The committee reported SB 464 favorably without objection, and then adjourned.

Transcript Highlights:

• Right now, it's all people who receive funds, beneficiaries, make up the board.
• Tribal communities are tightly linked with our trust beneficiaries.
• In this case, the beneficiary is the counties.
• You talked a lot about your leaning apart upon the trust beneficiary.
• But I'm curious how you're so confident that that was the trust beneficiary.

Bills: SB5838 , SB5960 , SB6097

Committee: Senate Agriculture & Natural Resources

Keywords: tribal representation, natural resources, board of natural resources, environmental policy, community involvement, ungulate populations, wildlife management, habitat restoration, conservation, sustainability, Indian tribes, conservation futures program, federal recognition, environmental protection

Transcript Highlights:

• The question is, can I be a beneficiary of the trust?
• Happy to delve in as people have questions. beneficiary, beneficiary, my<00:13:01.600><c> creditors</
• , and you can be a beneficiaries, and you can be a beneficiary<00:13:19.839><c> and</c><00:13:20.160>
• </c> different classes of of of beneficiaries different classes of of of beneficiaries that<00:20:49.200
• Be a beneficiary of it.

Committee: Senate Judiciary

Transcript Highlights:

• Financial institutions are the only entities that know who beneficiaries are and how to contact them.
• away, often leaving beneficiaries in the dark about their status.
• When beneficiaries come forward to claim funds, they... ...in the dark about their status.
• When beneficiaries come forward to claim funds, they face barriers to access.
• The bill applies not only to nonprofit beneficiaries, but to every beneficiary.

Committee: Senate Judiciary

Summary: The committee heard several bills, with testimony largely focused on child safety, immigrant community transparency, agricultural land security, consumer protection, estate transfers, detention commissary pricing, and public works wage enforcement. SB 1234 would require fentanyl to be included in drug tests ordered by juvenile courts for parents or guardians in dependency cases; the author said it was a narrow child-safety measure, and there was no opposition. SB 1257 would require the Attorney General to publish annual reports on immigration enforcement incidents at designated safe locations; supporters said it would improve accountability and document fear in immigrant communities, while questions centered on how the data would be collected and concerns were raised about sanctuary policies. SB 1176 would bar foreign adversary entities from buying or controlling California agricultural land; supporters framed it as a national security measure, while committee members pressed the author on enforcement, who would verify buyers, and possible discriminatory application. The bill was moved on a 2-4 vote and placed on call after the author said he would work on clarifying responsibility and nondiscrimination concerns. The committee also heard SB 1146, which would require clear disclosure when AI-generated or altered images, audio, or video are used in health-related advertisements depicting health care providers. The California Medical Association and California Dental Association supported the bill, saying it would curb deceptive deepfake ads and protect consumers; it passed unanimously, 7-0. SB 988 would restrict assignment of benefits in auto glass claims, require claim numbers and itemized estimates, and update repair disclosure rules to curb overbilling and steering; supporters said it would protect consumers and stabilize insurance costs, while independent glass shop concerns about steering and market concentration were discussed. The bill passed 7-0, with one member abstaining because of a conflict. SB 1288, presented on behalf of Senator Laird, would require financial institutions to make good-faith efforts to notify beneficiaries of non-probate assets and would simplify access requirements, especially for nonprofits. Supporters described long delays and burdensome account-opening requirements; SIFMA and the California Bankers Association opposed the bill unless amended, citing conflicts with federal and industry obligations and concerns about retroactive burdens. The bill passed 8-0. SB 941 would cap commissary markups in private immigration detention facilities at 35% above vendor cost; supporters said detainees often pay excessive prices for basic necessities, and the bill passed 8-0. Finally, SB 909 would raise and index public works contractor fees and penalties and dedicate more penalty revenue to enforcement; labor supporters said stronger funding is needed to address wage theft and backlogs, while contractors warned of uncapped costs and reduced transparency. The discussion continued with questions about enforcement and whether stronger penalties or license restrictions would better deter repeat violators.

Transcript Highlights:

• </c> any Medicaid beneficiaries are deceased. any Medicaid beneficiaries are deceased.
• So these data out to beneficiaries.
• Um Iowa enacted beneficiaries.
• </c> States can also focus on beneficiary States can also focus on beneficiary communication<00:18:31.600
• 18:55.360><c> will</c> Your beneficiary advisory councils will Your beneficiary advisory councils will

Bills: HF3439 , HF3763

Committee: House Health Finance and Policy

Keywords: Medical Assistance, Medicaid, MNsure, MinnesotaCare, disability determination, expedited eligibility, state medical review team, compassionate allowance, rare disease, home and community-based services, long-term care, managed care, county-based purchasing, eligibility redetermination, periodic data matching, death master file, Social Security Administration, program integrity, income eligibility, asset test

Transcript Highlights:

• </c> Hawaiian homelands beneficiary Hawaiian homelands beneficiary consultations<00:20:47.880><c> which
• </c><00:23:27.640><c> in</c> community much less the beneficiaries in community much less the beneficiaries
• These beneficiaries feel surprised, and it sounds like the beneficiary consultation that you've currently
• </c> and it sounds like the the beneficiary and it sounds like the the beneficiary consultation<00:47
• were they beneficiary consultation were they labeled<00:50:32.599><c> as</c><00:50:32.799><c> beneficiary

Committee: House Judiciary & Hawaiian Affairs

Summary: The committee heard three House bills related to the Department of Hawaiian Homelands. HB 606 would extend the Act 279 special fund to June 30, 2028, continue deposits and appropriations to help eliminate the DHHL waitlist, and require a strategic plan and annual reporting. DHHL strongly supported the measure, saying most of the initial $600 million had been used and that the need remains large, with more than 29,000 people on the waitlist. Public testimony also supported the bill, emphasizing its importance to Native Hawaiian families and concerns about Hawaiians leaving the islands because of housing costs. A member noted the bill is a priority and that the committee will keep working on how to fund another $600 million. HB 1086 would exempt DHHL homestead lot and housing development from general excise and use taxes. DHHL supported the bill, saying any tax savings would reduce the eventual cost of housing for low-income beneficiaries. The Department of Taxation said it could administer the measure and noted it is already being implemented under the governor’s emergency proclamation, with a proposed effective date of January 1, 2026. The Tax Foundation of Hawaii offered technical comments and urged the committee to weigh existing benefits already received by DHHL beneficiaries. HB 1307 would appropriate funds for DHHL water well development and geothermal exploration on Hawaiian homelands. DHHL said the bill is a follow-up to prior study funding and would support slim-hole drilling, site evaluation, and consultant work to identify viable geothermal resources, especially on Hawaiʻi Island. Several testifiers opposed the bill, arguing there had been inadequate beneficiary consultation, raising environmental, cultural, and safety concerns, and objecting to using $20 million for geothermal rather than housing. In response to committee questions, DHHL staff explained that the goal is to gather information for a future public-private partnership to develop geothermal electricity, and that a Chapter 343 environmental review would be required later in the process. No votes were taken during the portion of the meeting provided.

Transcript Highlights:

• Which legislators can apply for as beneficiary for death benefits.
• The way I look at it, I designated the person that is my beneficiary.
• President, I hope that you would let your beneficiary know that they are the beneficiary, and that you
• Of who your beneficiary is.
• The beneficiary will never receive a complete 100 percent of.

Bills: SB273 , SB37 , SB100

Keywords: SB273, appropriations, general fund, hold harmless, local government finance, municipal revenue, county revenue, correctional facility, jail contract, private prison, detention facility, immigration detention, revenue bonds, clawback, child welfare, juvenile justice, protective services, school improvement, New MexiCare, aging services

Transcript Highlights:

• thing, where an HOA, for example, would have an insurance policy that I as a condo owner and the beneficiary
• in effect, the... ...condo owner and the beneficiary in effect the condo association has the insurance
• It defines insurance fraud as a crime in state law and recognizes insurance consumers and beneficiaries
• , and not intended to duplicate the OIC's existing robust, For beneficiaries and not intended to duplicate
• and procedures for property insurers in disclosing, revising, and handling appeals of wild for beneficiaries

Bills: SB5831 , SB6031 , SB6178 , SB5928 , SB5919

Committee: Senate Business, Trade & Economic Development

Keywords: mortgage modification, uniform regulations, homeowners, financial stability, foreclosure prevention, public safety, insurance fraud, law enforcement, crime prevention, penalties, SB6178, property insurance, insurance claims, assignment of benefits, AOB, post-loss assignment, post-loss benefits, homeowners insurance, policyholder, insured

Transcript Highlights:

• Best interest to the beneficiaries of the trust.
• The beneficiaries of the trust. I know there's land out there that's ripe for development.
• That's what the commissioner used highest and best use of the trust land for the beneficiaries.
• It would derive monies for the state trust beneficiaries.
• And we do need to do what's best for our beneficiaries.

Committee: House House Natural Resources, Energy & Water Committee of Reference

Summary: The committee first took up House Bill 2150, which continues the State Land Department until July 1, 2030. Members questioned the commissioner extensively about agency procedures, backlog, appraisals, auction practices, privilege claims in the Fontamonte audit, and the Coyotes land transaction. The committee also discussed the Griffin amendment, which required quarterly updates, a public hearing on the department’s strategic plan, changes to conceptual land use plans and five-year disposition plans, and legislative findings. After debate over oversight and accountability, the amendment was adopted and HB 2150 was returned with a do pass recommendation by a 6-4 vote. The committee then considered House Bill 2975, which would suspend the State Land Department’s solar scoring map and require new mining and housing resource maps, with the amendment changing the mapping deadline and requiring the maps to be posted online. Supporters said the bill would improve fairness and maximize trust revenue for schools by avoiding favoritism toward solar; opponents argued the solar map is only a guidance tool and that removing it could reduce transparency and revenue. The department said it was neutral but asked for additional staff or consultant support if the bill passed. The committee adopted the amendment and passed HB 2975 as amended on a 6-4 vote. House Bill 2781 followed, addressing solar plant decommissioning, restoration, financial assurance, insurance, and a remediation fund. The amendment narrowed the bill to decommissioning standards and limited its reach to projects receiving permits after the effective date. Testimony focused on the need to ensure solar sites are restored and that taxpayers are not left with cleanup costs; several speakers cited abandoned or aging energy infrastructure as a cautionary example. The committee adopted the amendment and passed HB 2781 as amended by a 6-4 vote. Finally, the committee began House Bill 2267, which would classify certain utility-scale wind or solar projects within four miles of residential property as a public nuisance, with exceptions and grandfathering for existing projects. The sponsor argued the bill responds to concerns about large renewable projects near homes and property value impacts, while the amendment narrowed the scope to utility-scale wind and solar and excluded rooftop solar and existing projects. The transcript cuts off before any final action on HB 2267.

Transcript Highlights:

• Right now, it's all people who receive funds, beneficiaries, make up the board.
• But I kind of, you know, they're going to be the first non-beneficiary on the board.
• Tribal communities are tightly linked with our trust beneficiaries.
• In this case, the beneficiary is the counties.
• You talked a lot about your leaning apart upon the trust beneficiary.

Summary: The committee heard testimony on Senate Bill 5838, which would add a federally recognized tribal representative to the State Board of Natural Resources. The Department of Natural Resources commissioner and tribal leaders said the change would bring Indigenous knowledge and a voting voice to decisions on trust lands, while preserving existing tribal consultation. Some county and economic interests said they were not opposed to tribal participation but stressed the board’s fiduciary duty to trust beneficiaries and asked for more review of the board’s purpose; one witness questioned whether the beneficiaries had been consulted. The prime sponsor, Senator Claudia Kaufman, said the bill is about inclusion and equity and indicated openness to an amendment adding both eastside and westside tribal representation. The hearing closed with 142 written comments reported: 33 pro, 107 con, and 2 other. The committee then heard Senate Bill 5960, which would require Fish and Wildlife to designate at-risk ungulate populations and take predator mitigation actions when populations fall below specified benchmarks. Senator Shelley Short said the bill responds to declining deer and elk numbers and a lack of management, especially in northeast Washington. Supporters argued the bill would codify existing agency plans and restore balance in wildlife management, while opponents—including conservation groups, the Sierra Club, and several scientists and advocates—said the state’s predator-prey study found wolves were not the main driver of ungulate declines, pointing instead to habitat, forage, weather, disease, and vehicle collisions. Ranching and farm groups supported the overall goal but objected to the bill’s in-state wolf translocation provisions. The Department of Fish and Wildlife said it recognized the bill’s intent but opposed it because some directives were impractical, costly, or would require legislative approval. The hearing closed with 1,197 written comments reported: 843 pro, 352 con, and 2 other. The committee then held a work session on Lake Washington salmon predation. Larry Phillips and Muckleshoot Fisheries Director Jason Schaffler described a coalition effort to reduce predation on juvenile salmon in the Lake Washington system, saying invasive and predatory fish such as walleye, rock bass, American shad, northern pike, yellow perch, and smallmouth bass are harming sockeye and Chinook recovery. They said sockeye returns have fallen from hundreds of thousands to about 18,000 in recent years, ending tribal and sport fisheries, and argued that targeted predator removal, supported by prior state and county funding, could help restore runs. Senators asked about the methods and funding, and the presenters said fishing and netting are being used to suppress larger predatory fish and that more sustained investment is needed. Finally, the committee began public hearing on Senate Bill 1697, which would make federally recognized tribes eligible recipients for county conservation futures funds. Testifiers from the Washington Farmland Trust and the Tulalip Tribe said the bill would expand voluntary conservation partnerships, help tribes steward farmland and habitat, and make it easier to leverage county funds with other grants. They described past projects where tribal participation improved conservation outcomes but said tribes could not directly access conservation futures dollars under current law.

Transcript Highlights:

• for Medicaid and exchange advisory committee to include individuals who are also members of the beneficiary
• for Medicaid and exchange advisory committee to include individuals who are also members of the beneficiary
• for Medicaid and exchange advisory committee to include individuals who are also members of the beneficiary
• for Medicaid and exchange advisory committee to include individuals who are also members of the beneficiary
• advisory committee as of the beneficiary advisory committee as required<00:15:43.120><c> by</c><00:15

Transcript Highlights:

• Pursuant to R.S. 39:14.03, as Southern University is the ultimate beneficiary, I would note that the
• The purchaser is Raymond James and Associates; the Louisiana Public Facilities Authority; the beneficiary
• Pursuant to RS 3914.03, as Southern University is the ultimate beneficiary.
• The beneficiary is Southern University, Scott's Bluff Housing LLC.
• The beneficiary is Southern University, Scott's Bluff Housing LLC, principal amount not exceeding $60

Summary: The State Bond Commission met on May 21, established a quorum, approved the April 16 minutes, and then considered a long agenda of bond, refunding, and election-related requests. Items 3 through 10 were election propositions for the November 3 ballot involving ad valorem taxes, parcel fees, and charter amendments for purposes such as fire protection, agricultural centers, neighborhood security, recreation, aging services, drainage, and roads and bridges; staff said they met technical and legal requirements, and the commission approved them. The commission also approved several local financings, including water and sewer projects, fire district equipment and facility improvements, school board and parish bonds, and refunding transactions for the East Baton Rouge City-Parish and St. James Parish School Board. A retroactive approval request from the City of Kenner related to a CEA with GMB Basketball LLC was discussed; staff made no recommendation because it was retroactive, but noted it appeared to be an oversight, and item 22, the related airport district agreement, was approved. The commission approved additional financing for the Louisiana Housing Corporation’s Federal City Building 10 affordable housing project, a preliminary approval for the Northwest Louisiana Finance Authority’s Petro Tower redevelopment in Shreveport, and two Louisiana Public Facilities Authority projects: Southern University’s Scott’s Bluff student housing project and the Crescent City Schools project for Harriet Tubman Charter School. During discussion of the Crescent City Schools financing, a commissioner asked about the use of MFP funds; staff explained that lease payments would be the repayment source and that MFP dollars are generally split between educational expenses and facilities costs, with the school’s typical split around 72% instructional and 28% administrative/facilities-related. Both items were approved. The commission then received six cost-of-issuance reports for previously approved bond issues, with various fee adjustments but no motions required. It also reviewed a debt schedule update and adopted Resolution No. 2 authorizing up to $425 million in general obligation refunding bonds to refund Series 2016 bonds and tender other outstanding bonds for savings, with pricing tentatively set for June 16 and closing for June 30. In other business, the commission heard a brief public comment from New Orleans City Council President J.P. Morrell thanking the commission for helping place a charter amendment on the ballot to improve New Orleans budgeting transparency and oversight. The meeting ended after monthly reports were noted and no further business was raised.

Transcript Highlights:

• Pursuant to R.S. 39:14.03, as Southern University is the ultimate beneficiary, I would note that the
• The purchaser is Raymond James and Associates; the Louisiana Public Facilities Authority; the beneficiary
• Pursuant to RS 3914.03, as Southern University is the ultimate beneficiary.
• The beneficiary is Southern University, Scott's Bluff Housing LLC.
• The beneficiary is Southern University, Scott's Bluff Housing LLC, principal amount not exceeding $60

Summary: The State Bond Commission met on May 21 with a quorum present and approved the April 16 minutes. The commission then reviewed and approved a large slate of local government and public authority financing requests, including election propositions for the November ballot, water and sewer infrastructure projects, fire protection and recreation district bonds, school board financing, and several refunding transactions. Most items were found to meet technical requirements and were approved on motions by Speaker DeVillier and seconded by Senator Talbot. Among the more notable items were the East Baton Rouge City-Parish refunding bonds for the Greater Baton Rouge Airport District, the City of Kenner’s retroactive approval request tied to a convention center agreement with GMB Basketball LLC, a Louisiana Housing Corporation financing increase for the Federal City Building 10 affordable housing project, and preliminary approval for the Northwest Louisiana Finance Authority’s Petro Tower redevelopment in Shreveport. The commission also approved financing for Southern University’s Scott’s Bluff student housing project and the Crescent City Schools/Harriet Tubman Charter School project. The Crescent City Schools item prompted questions about how MFP funds are used; staff explained that lease payments would support the bonds and that MFP funds are generally split between educational expenses and facilities-related costs. The commission received six monthly cost-of-issuance reports, which required no action, and a status update on the state debt schedule. It also approved Resolution No. 2 authorizing up to $425 million in general obligation refunding bonds to refund the Series 2016 bonds and tender other outstanding bonds for savings, with pricing tentatively set for June 16 and closing for June 30. During other business, New Orleans City Council President J.P. Morel thanked the commission for its role in helping address the city’s fiscal crisis and for approving a charter amendment election item aimed at strengthening budget oversight. The meeting adjourned after no further business.

Transcript Highlights:

• I'm wrong, but the way I understand it, most of these policies, the employee is not actually a beneficiary
• And last question, I assume that the bank is always the beneficiary of these policies.
• The bank's the owner and a beneficiary. It's an asset of the bank.
• The bank endorses over the right to name a beneficiary on a portion of the death benefit.
• The death benefit is split between the bank and the employee for his or her beneficiary.

Committee: House Insurance

Transcript Highlights:

• They're the ones that deal with the beneficiaries, and they're on the board.
• Those five are on the board looking out for the money for the beneficiaries, which, when it all comes
• down to it, the whole purpose of the SIB is to generate money for those beneficiaries of those funds
• will harm future beneficiaries like myself.
• Our petition includes over 600 SIB beneficiaries, beneficiaries such as my 10-year-old son, whose college

Summary: The committee began with a work session from the State Investment Board, where staff described the board’s structure, $230 billion in assets under management, and its mandate to maximize returns at a prudent level of risk for pension and other state funds. They reviewed long-term performance, noting strong historical returns and explaining that the board generally invests public equities passively through low-cost index funds. Members also discussed sustainability practices, including ESG integration, proxy voting, climate and DEI blueprints, and the board’s view that divestment or asset-class restrictions can reduce returns and increase costs. Senators asked about deferred compensation, legislative influence over investment policy, and digital assets; staff said the board is slow-moving and that any major change would be studied carefully. The public hearing then focused on SB 5439, which would prohibit new thermal coal investments beginning in 2026 and require full divestment by 2030, with limited exceptions. Supporters argued coal is a poor long-term investment and a major climate and health risk, and several said the bill still gives the board flexibility to retain holdings in companies transitioning to clean energy. The committee also heard testimony on SB 6109, which would bar investments in private detention facilities and require divestment by 2030; supporters said state money should not profit from immigrant detention, while staff confirmed the board currently holds a small investment in Geo Group. SB 6304 would require responsible investment principles for the State Investment Board, including consideration of human rights, environmental degradation, corruption, and related risks, along with proxy voting guidelines and annual reporting. Testimony in favor emphasized ethical investing, climate risk, and avoiding complicity in human rights abuses, while board staff had earlier said they view such decisions through an investment-risk lens rather than a values-based lens. The committee also heard Substitute SB 5945, which would exclude most offenses committed before age 18 from counting as strikes under the state’s persistent offender law and would allow retroactive resentencing for affected people, with exceptions for first- and second-degree murder and serious sex offenses. Staff said the substitute would likely affect fewer cases than the original bill, with estimates ranging from about 10 to 24 resentencings. Public defense, prosecutors, and sheriffs’ representatives raised concerns about workload, victim impacts, and retroactive application, while supporters and pro bono providers said they were prepared to help with resentencing and reentry support. No votes were taken during the hearing.

Transcript Highlights:

• in agreement that the manner in which it is currently set up works in the best interest of the beneficiaries
• They do not think outside influence from these supposed experts will be beneficial for the beneficiaries
• 00:14:27.199><c> interest</c><00:14:27.560><c> of</c><00:14:27.720><c> the</c><00:14:27.839><c> beneficiaries
• </c> the best interest of the beneficiaries the best interest of the beneficiaries as<00:14:28.759><c
• </c> will be beneficial for the beneficiaries will be beneficial for the beneficiaries um<00:14:51.240

Committee: House Labor