Transcript Highlights:

• He is studying finance, and so he is very aware of everything we're doing today, and he is also the chair
• of the finance committee of ASUNM.
• Fewer jobs, fewer construction opportunities, and lost economic momentum.
• Construction workers are coming in.
• You guys are really good at financing stuff and you're good at design.

Keywords: 996, all

Transcript Highlights:

• We have recently filed our construction permit application.
• . ...is the construction of an advanced nuclear reactor.
• Once the gas plant is complete, the funds would be used to finance the construction of the advanced nuclear
• construction.
• I do want to be constructive, so I want to talk about...

Bills: HB 11, HB 14, HB 132, HB 1584, HB 1606, HB 5061, HB 1041, HB 2286

Keywords: licensing, reciprocity, regulation, Texas Department of Licensing and Regulation, interstate agreements, nuclear energy, advanced reactors, energy security, grant programs, Texas Advanced Nuclear Energy Office, HB 132, Texas Government Code Chapter 418, Public Information Act, confidential records, homeland security, foreign adversary, terrorism, critical infrastructure, emergency response, law enforcement

Summary: The meeting was a thorough exploration of multiple bills, most notably focused on innovative energy solutions and public safety enhancements. Key discussions centered around HB14, which aims to bolster the state's nuclear energy capabilities through the establishment of a Texas Advanced Nuclear Energy Office. Senators and expert witnesses discussed the potential of nuclear power as a clean energy source and a strategic necessity for Texas's growth. There was strong support for the bill, with various stakeholders highlighting its importance for the future energy landscape. Additionally, other bills like HB132 addressed the need for enhanced confidentiality protections regarding sensitive information, while HB1584 sought improvements in power restoration procedures during emergencies. Overall, the committee engaged with multiple viewpoints, balancing innovation with safety and ethical considerations.

Transcript Highlights:

• I work as a construction electrician in Duval County.
• My understanding is that—so I work in construction, right? We have private contractors.
• Chair Salzman: Next up, we have Theresa King from Florida Building and Construction Trades.
• We're not talking about construction. We're not talking about those.
• Representative Rosenwald: We got some revised language from the housing finance authorities.

Transcript Highlights:

• to our only item on this particular agenda, which is a presentation from the Water Infrastructure Finance
• Authority. ...on this particular agenda, which is a presentation from the Water Infrastructure Finance
• So the way we... ...be developing and constructing and operating and maintaining these projects to the
• Construction of a new desalination plant will take 10 to 15 years by the time it's actually permitted
• , constructed, and the water starts to flow to the communities where it will be used.

Keywords: 1182, all

Summary: The Senate Natural Resources Committee was called to order with member and staff introductions, then heard a presentation from the Water Infrastructure Finance Authority (WIFA). Director Chelsea McGuire described WIFA’s core revolving loan programs for clean water and drinking water infrastructure, its rural water supply development fund, its conservation grant fund, and the long-term water augmentation fund. She said WIFA has invested nearly $3 billion over 30 years in water infrastructure, awarded $87.3 million under the rural fund, and allocated about $211 million in conservation grants expected to save 6.6 million acre-feet of water. She also reported that the conservation grant fund is fully allocated and that WIFA is seeking renewed funding support from the legislature. A major focus was the long-term augmentation fund, which WIFA is using to evaluate large-scale water supply projects through a competitive solicitation and due-diligence process. McGuire said 17 proposals were received and seven projects were selected for further development, including desalination, reuse, groundwater storage, and exchange-based supply arrangements involving Arizona, California, and Mexico. She emphasized that the next phase will include public engagement, technical and financial analysis, and input from potential water buyers, and that the projects are intended to address an identified supply gap of 100,000 to 500,000 acre-feet per year over the next 10 to 15 years. Members generally praised WIFA’s work, especially its support for small and rural communities, and asked about public transparency, conservation savings, federal funding for revolving funds, and the cost and timeline of augmentation projects. McGuire said the revolving funds remain financially stable even if federal funding declines, though forgivable-principal grants could be affected. She also said smaller utilities often need staff help to navigate applications and that WIFA is working to make the rural fund’s process more predictable and accessible. Several senators urged the legislature not to cut WIFA’s funding, while McGuire argued that stable state support is needed to keep project costs down and maintain momentum. No votes or formal actions were taken.

Transcript Highlights:

• John will do finance, Kirby will do tax, and then JFO, the fiscal implications.
• going to result in school construction going to result in school construction costs. costs. costs
• We're the education finance team at JFO.
• the uh education finance team at JFO. the uh education finance team at JFO.
• the state aid for school construction the state aid for school construction program,<00:29:12.240

Keywords: 926, house, all

Summary: The meeting was a high-level walkthrough of Act 73, with staff from Legislative Council and the Joint Fiscal Office summarizing major education policy, governance, tax, and fiscal changes. The presentation covered class-size minimums and related enforcement, creation of a state aid for school construction program, narrowed tuition eligibility for approved independent schools, changes to State Board of Education appointments, special education reporting and staffing, and a new report on standards for schools deemed small or sparse by necessity. It also noted that some provisions take effect immediately or in 2025, while the major funding and tax changes are contingent on new school districts being operational and a foundation formula report being received, with most of those changes targeted for July 1, 2028. The central fiscal change described was a move from the current locally voted budget and varying homestead tax system to a foundation formula. Under that model, districts would receive an educational opportunity payment based on a base amount per pupil, adjusted by student weights for factors such as pre-K, economic disadvantage, English learner status, and special education, with small-school and sparsity weights replaced by support grants. Districts could still seek limited supplemental district spending above the foundation amount, subject to a cap and a uniform method for raising the funds, with excess collections recaptured at the state level. The presenters also described transition mechanisms to phase in the new system over several years. The tax section explained that Act 73 would replace the current property tax credit with a homestead exemption and create a new non-homestead residential classification intended for second homes and short-term rentals, though further statutory or regulatory work would still be needed to implement it. The JFO presentation emphasized that the act also creates regional assessment districts for reappraisals and includes a transition to smooth changes in education tax rates. No committee vote or formal action was taken during the presentation; it was informational only.

Transcript Highlights:

• and Finance for the North Dakota Department of Commerce.
• The state laboratory was constructed. Since that 2020 plan, the State Laboratory was constructed.
• Each year, about 100 buildings are being constructed or modified.
• So when construction occurs, the building code must apply.
• Lindsay, the state construction manager, has also been really great.

Keywords: 908, all

Transcript Highlights:

• "We don't handle the finance side. We handle the vehicle for purchasing.
• Item B are the methods of finance presented for your review this month.
• Number six, with UALR, this is the Freeboro Hall planetarium equipment method of finance.
• These are the construction-related contracts. There are 21 for your review today.
• These are the construction contracts. Members, do we have any questions on E2?

Summary: The subcommittee first considered a used tire program contract for Arkansas District 4, an $88,000 one-year contract with LTR Intermediate Holdings. Senators raised concerns that the tire district’s revised business plan had not yet been approved and that the contract could leave the district unable to pay. Questions also focused on solicitation language that excluded bidders under corrective action plans. On motion, the committee held the contract until next month and encouraged the tire board to appear. Members then reviewed and, without objection, moved forward a series of methods of finance, alternative delivery projects, and discretionary grants. These included multiple university and college projects such as renovations, roof replacements, a new UCA multipurpose arena, and a revised financing package for UA Fayetteville’s Maple Hill residence hall. The committee also reviewed DHS and Department of Health grants for aging services, substance abuse prevention, mental health, nutrition outreach, hearing-loss follow-up, HIV services, maternal health, and rural hospital quality improvement. The committee next handled contract items, including a UAMS ratification for FMLA Source after an amendment was not submitted for review and payments continued past expiration; UAMS said it had retrained staff and would review for other missed contracts. Members also reviewed numerous construction, intergovernmental, out-of-state, and in-state contracts across state agencies and universities. Questions were raised about an out-of-state aeronautics study, a U of A Fayetteville parking guidance system, and a Veterans Affairs nursing contract. Most items were reviewed without objection, and the meeting adjourned after informational reports on contract amendments and minor contracts.

Transcript Highlights:

• David, I'm not the Department of Finance. It's not the Department of Finance. It's from the PUC.
• Aaron Carson, Department of Finance.
• And so if the state provides the financing, a part of that financing, because these projects can be in
• Department of Finance. Thank you. Department of Finance? Nothing to add.
• Department of Finance. David Evans, Department of Finance.

Keywords: 988, house, all

Summary: The committee first heard a budget item on demand-side grid support and emergency load flexibility funding. The Department of Finance proposed redirecting General Fund money for summer 2026 to the CEC’s Demand-Side Grid Support program and using accumulated CalCHAP interest to support a successor ratepayer-funded demand response program for summers 2027 and 2028. The CEC and CPUC said they are working on a transition from DSGS to ELRP or an equivalent program, while the LAO said the proposal mainly presents a choice between keeping the money in General Fund savings or using it for DSGS. Members pressed the administration on why DSGS should be sunset when it has higher enrollment and lower administrative costs than ELRP, and on whether the state should continue funding demand response at all. The CPUC argued ELRP and DSGS are not directly comparable, said it is pursuing a broader demand flexibility rulemaking, and noted a decision on a successor program is expected in Q3 2026. No vote was taken in the excerpt, but members signaled interest in keeping DSGS funding at the CEC. The second item concerned trailer bill language for the transmission accelerator program under SB 254 and Proposition 4. GoBiz and IBank described a new financing structure for major transmission projects selected through CAISO’s competitive planning process, with about $26 million in administrative resources over five years. The LAO raised no specific concerns but emphasized that this is the Legislature’s first appropriation for a new program and that the final language should clearly reflect legislative intent. Members asked about state liability, ownership, and how the financing would lower ratepayer costs; staff explained that state financing would cover only a portion of large projects and could reduce the amount included in utility rate base, with estimated lifetime savings varying widely. Members also discussed offshore wind transmission needs and asked for an update on related Proposition 4 funding. The final item covered CEC and DPMO budget requests related to petroleum market oversight and supply stabilization. The CEC requested funding for additional positions to implement AB X2-1 and related fuel market monitoring work, while DPMO sought to make a data specialist position permanent. The LAO said it found the staffing requests justified. Members questioned why the work is funded through the Energy Resources Programs Account, whether staff from paused price-gouging work could be reassigned, and what evidence had been found of price gouging or market manipulation. CEC and DPMO said their work on reporting, analysis, and supply stabilization continues, that some staff are still working on related analyses, and that they are preparing further workshops and recommendations. The discussion also touched on refinery closures, gasoline imports, and the state’s changing fuel supply conditions, but no formal action was taken in the excerpt.

Transcript Highlights:

• of the building whatever construction of the building whatever you<00:28:53.840> know.
• And this was planned for construction.
• <00:37:53.119> within well as as other uh construction within well as as other uh construction
• Um, the original budget for the construction contract part of it was about 29 million.
• How what kind construction costs go up.

Keywords: 910, house, all

Transcript Highlights:

• construction construction how<00:23:15.200> uh how uh how uh so<00:23:17.480> so<00:23
• <00:23:31.600> in starting some form of construction in starting some form of construction
• <00:31:27.760> that using prefabricated construction that using prefabricated construction
• Financing is part of that process.
• purely for construction construction of purely for construction construction of the<01:17:15.040>

Keywords: 910, house, all

Summary: The Committee on Education held an informational/budget briefing with presentations from the State Library System, the School Facilities Authority, and the Department of Education. The chair opened the meeting by outlining the order of presentations and noting that members would hold questions until after all three agencies had testified. The discussion focused on each agency’s priorities for the upcoming biennium and their budget requests. State Librarian Stacy Aldridge described library usage and services, emphasizing strong demand for physical and digital materials, internet and Wi-Fi access, programs, Kanopy streaming, and PressReader. She highlighted digital literacy classes, RFID self-check and smart shelving improvements, and the role of libraries as community hubs. The library’s budget request included an additional $1.2 million for security guards, $48.484 million for FY 26-27 to support popup libraries during temporary closures and other needs, $500,000 for repair and maintenance, $2 million for Kap planning and design, and $25 million each year for lump-sum capital funding. Mallerie Fujitani said the lump-sum funding is needed to keep roughly 50 projects moving and to avoid delays in construction. School Facilities Authority Executive Director Ricky Fujitani explained the agency’s startup history and its programs for preschools, Central Maui schools, and workforce housing. He said the authority is using standardized, prefabricated, programmatic approaches to speed delivery and improve maintainability, citing prior preschool renovations as a successful model. He reported that of $389 million appropriated, $106 million was released, with $81 million for preschools, $20 million for Central Maui schools, and $5 million for workforce housing; he also noted the workforce housing program was reduced after Maui fire-related reallocations. He said the pilot workforce housing site at Mililani High School has been awarded and pointed to University of Hawaiʻi student housing projects as a model. Superintendent Hayashi then began the Department of Education presentation, introducing DOE leadership and outlining the department’s mission to support academic achievement, character development, and student well-being. He noted the department serves more than 152,000 students in 258 public schools and employs over 42,000 people, with nearly 54% of students facing significant challenges. He framed the budget request around the department’s strategic plan to prepare graduates for college, careers, or military service. The transcript ends during the DOE presentation, before any committee votes or formal actions are taken.

Transcript Highlights:

• Uh, generally, CDBG economic development funds are good to provide equipment financing, land acquisition
• Senate Bill 149 provides the finances.
• The rights shall continue during the construction of the development but shall not exceed 10 years.
• <00:18:31.840> The project must commence construction.
• The project must commence construction.

Keywords: Upon adjournment of the concurrent meeting, the Senate State and Local Government committee will continue meeting, 958, all

Summary: The concurrent meeting began with roll calls for both the Senate Standing Committee on State and Local Government and the House Standing Committee on Local Government, establishing quorums. The committees then heard a Department for Local Government presentation on the Community Development Block Grant program, which serves smaller and more rural areas. Commissioner Matt Sawyers and Executive Director Mark Williams explained the 2026 HUD application as a public hearing, noting an estimated total of a little over $25 million, with proposed allocations for public facilities, community projects, economic development, public services/Recovery Kentucky, and housing. They also described proposed changes, including shifting some funding from economic development to housing, raising non-traditional application ceilings, extending the economic development application window, and giving the commissioner flexibility to reallocate funds if requests exceed the allotment. No legislators or members of the public asked questions, and both chambers approved the presentation and then adjourned the House portion. The Senate committee then took up Senate Bill 149 by Senator Elkins, which updates county treasurer statutes. The bill shortens the waiting period for appointing an acting treasurer from 30 days to 5 days and allows fiscal courts to appoint a temporary treasurer for up to 60 days during vacancies, illness, incapacity, or termination. Members discussed the need for continuity in county finances, and the bill received favorable expression 9-0. Next, the committee considered several housing-related bills from the housing task force. Senate Bill 224, by Senator Mills, creates vested property rights for development applications and narrows who may appeal certain local land-use decisions; the committee adopted a substitute, then approved the bill 8-1 after members raised concerns about standing language and possible impacts on local participation. Senate Bill 225 requires the housing and construction department to analyze the cost and housing-supply effects of proposed housing regulations; it passed 9-0 after a committee substitute. Senate Bill 233, by Senator Neal, removes annual financial reporting requirements for homeowners associations with 14 lots or fewer to reduce burdens on small developments; it passed 9-0. Finally, Senate Joint Resolution 75, as amended, directs the Public Service Commission to study affordability and water/wastewater utility regionalization, including possible consolidation of small districts; the amendment and the resolution both passed 9-0, with one member noting concerns about whether the matter should proceed as an administrative case rather than a study.

Transcript Highlights:

• The Senate Committee on Finance will come to order. We will call the roll a little later.
• We are very active, and we are the leading indicator of construction.
• I've worked in commercial construction for over 30 years.
• It's what we call new construction.
• It doesn't apply to new construction.

Summary: The Senate Finance Committee heard several tax and economic development bills. SB 935 would exempt counties from the motor fuels tax on fuel used exclusively in county vehicles; Sen. Hall and Cass County Judge Travis Ransom argued it would save counties money without changing fund allocations, and the bill was left pending while the committee waited for the House version. SB 2206 would extend and revise Texas’s research and development incentives by tying the franchise tax credit more closely to federal law and changing the program’s effective date; supporters from business, manufacturing, and tax policy groups said it would protect innovation jobs and help startups, while the Comptroller’s office explained the fiscal note and said the committee substitute was no longer needed. The committee later withdrew the substitute and left the bill pending before ultimately voting it out favorably. The committee also heard SB 2020, which would repeal the “rehab tax” on nonresidential remodeling. Sen. Campbell said a large fiscal note led him to delay a full presentation, but builders, architects, and contractors testified that the tax raises remodeling costs, complicates audits, and discourages reuse and reinvestment in existing buildings. The bill was left pending. SB 2018 would create a two-year “strong families” tax credit for businesses donating to nonprofits that provide family support services; supporters from Family First, Buckner International, and Texas Baptist said it would strengthen families, father engagement, and upstream prevention, while the author said the Comptroller and HHSC were still working on administration details. That bill was also left pending. After a quorum was established, the committee heard and later reported several bills favorably. SB 1030 would exempt certain aircraft maintenance, repair, and overhaul parts from sales tax for general aviation; industry, airport, and local economic development witnesses said it would keep high-wage aviation work in Texas and improve competitiveness with neighboring states, and the bill was reported favorably. SB 214 would create a temporary sales tax holiday for qualifying residential HVAC systems; it was laid out and left pending. SB 1901 would make administrative and ethics changes to the Opioid Abatement Fund Council, including staggered terms, conflict rules, and fund reallocation procedures; it was reported favorably. SB 266 would repeal the Texas Research Incentive Program and use the appropriation to address the existing backlog of unmatched donations; the chair and Sen. Paxton said the state should honor past commitments, and the committee substitute was adopted and the bill was reported favorably. The committee then recessed subject to the call of the chair.

Transcript Highlights:

• It proposes to make use of the metro-wide sales tax that was enacted in the 2023 Transportation Finance
• or any remodeled construction, tall structures, and consider integrating enhanced safety features into
• but the three down for construction but the three teenage<00:42:12.280> boys<00:42:12.640>
• And so we’ll bring it back and probably incorporate it into the finance bill, if that’s all right.”
• <01:14:15.159> bill for consideration in our finance bill for consideration in our finance

Keywords: 1187, senate, all

Transcript Highlights:

• here T forai building and construction here T forai building and construction trade<00:04:36.280
• Not like the construction would happen tomorrow, right?
• That was always the plan, and that's how it was constructed.
• That was always the plan, and that's how it was constructed.
• whether that's the best way to finance whether that's the best way to finance the<00:26:36.000><

Keywords: 912, senate, all

Summary: The Senate Committee on Economic Development and Tourism and Higher Education heard HB 1494, relating to sports facilities. Testimony was largely in opposition to the bill as drafted from the Stadium Authority, the Department of Accounting and General Services, and the Department of Business, Economic Development and Tourism, with several other written comments also opposing; each asked that if the measure advances, Senate language from related stadium bills be incorporated instead. The University of Hawaiʻi testified in support of the Nāʻid project and said it wants the project delivered at Halawa so the university can have a football facility, though members pressed the university on whether it was effectively supporting both the project and the bill’s current approach. A substantial portion of the hearing focused on the stadium project’s financing, schedule, and oversight. DAGS and Public Works discussed a consultant contract that had grown to about $28 million and an audit that recovered $441,000 after improper travel and expense reimbursements, including first-class airfare and other personal expenses; officials said the audit exposed weak internal controls and led to revised reimbursement policies. Members questioned whether the problems would have been found without media reporting and whether stronger oversight should have been in place earlier. The committee also discussed the current Ching Field setup for UH football, with witnesses describing it as less than ideal and temporary until the new stadium is built. Stadium Authority representatives said the current preferred offeror is Aloha Halawa Development Partners, negotiations have recently accelerated, and the goal remains a contract this summer and a fall 2028 opening. They said the state is committed to $350 million in general obligation bonds, with the overall project expected to cost more, and that the developer is exploring other financing sources such as TIF or CFD while the state and city work to expedite permits and demolition. No vote or final action on the bill was taken in the portion provided.

Transcript Highlights:

• I'm the Legislative Finance Committee Analyst for the Department of Transportation.
• So with that I'll just turn over to the page two which is the project design and construction program
• I actually miss being on Appropriations or Finance Committee.
• I'm new on the finance committee.
• But we weren't on finance.

Keywords: 996, all

Transcript Highlights:

• <00:13:09.199> investment in gal development financing investment in gal development financing
• Sometimes things come up: construction projects, closures, renovations, labor disputes.
• Next up, Director Salivaria from the Department of Budget and Finance. Wait, comments. Carota.
• construction trade unions here in the state of Hawaii.
• construction<01:01:20.200> trade<01:01:20.480> unions represents 18 construction trade

Keywords: 912, senate, all

Summary: The committee heard several measures on agriculture, energy, stadium governance, and hotel consumer protections. On SB 448 relating to agriculture, Agra Business Development Corporation and the Hawaii Farm Bureau testified in support of a proposed conservation easement acquisition in Central Oahu; the chair asked follow-up questions about the exact location, cost, and agricultural potential of the land, and the witness said the parcel had good soil and water and was former pineapple land, with cost still to be provided. On SB 827 relating to meat processing, the Department of Economic Development and Tourism said the state needs more meat-processing capacity and that any grant program should complement, not compete with, existing efforts; the Attorney General’s office warned the bill lacked legally sufficient standards for grants of public money under the state constitution and offered draft standards. Several industry and chamber witnesses supported the measure, while discussion focused on the need for brick-and-mortar or modular facilities, infrastructure costs, federal inspection needs, and access for hunters and neighbor islands. The committee then took up SB 1269 relating to geothermal resources, which drew broad support from county officials, energy consultants, utility representatives, and community advocates, with one witness opposing it. Supporters described geothermal as a viable, indigenous, firm baseload energy source that could help reduce Hawaii’s high electricity costs and support clean energy goals; one witness emphasized prior work in New Zealand and another urged the state to move forward with exploration. A DBEDT representative explained that the department is coordinating geothermal-related work with the Hawaii Technology Development Corp., the University of Hawaii, and the Hawaii State Energy Office, noting a prior $3 million appropriation, phase-one community engagement work, and plans to seek a contractor for geoscience and exploration in phase two. Members pressed DBEDT to explain how this bill fits with other geothermal measures moving through different committees, and the chair asked the department to review SB 993 and better coordinate the package of geothermal bills. On SB 1337 relating to the Stadium Authority, the stadium manager testified in support of clarifying quorum rules, explaining that the authority currently has eight seated voting members out of nine possible voting seats and that the bill would help ensure voting members are counted for quorum; he said meetings have not been delayed. Finally, on SB 883 relating to hotels, the Attorney General’s office raised First Amendment and contract-law concerns and recommended adding a purpose statement and a non-impairment savings clause. Unite Here Local 5 and other supporters said guests should be notified of hotel service disruptions such as construction, closures, or labor disputes, while opponents questioned who would enforce the law, what penalties would apply, and whether the measure could require hotels to pay damages even without a complaint. No votes or final committee actions were taken in the portion of the hearing provided.

Transcript Highlights:

• And during that same time period, construction costs are expected to rise by 136%.
• We get them in the Finance Committee, Appropriations. We get it...
• We get them in the Finance Committee, Appropriations.
• I'm the Secretary of the New Mexico Department of Finance and Administration.
• If we put 100% of that into the DOT budget, that would help pay for the financing of this bond.

Keywords: 996, all

Summary: The committee first heard TRIP’s annual New Mexico transportation report from Carolyn Boniface Kelly, which described deteriorating roads and bridges, congestion, safety concerns, and a large transportation funding gap. The report said more than half of major roads statewide are in poor or mediocre condition, over 170 bridges are rated poor, congestion costs drivers significant time and money, and traffic crashes and road conditions impose billions in annual costs. Members broadly agreed the report underscored the need for more stable transportation funding, with several noting the state’s recurring underinvestment and the safety risks to motorists, pedestrians, and bicyclists. The committee then took up Senate Bill 2, a transportation bonding and revenue package. Senator Gonzales and Governor’s office and NMDOT representatives said the bill would authorize about $1.5 billion in additional bond debt for ready-to-go highway projects, while also increasing certain motor vehicle excise, registration, weight-distance, and EV-related fees to help support debt service and transportation funding. Supporters, including contractors, the Greater Albuquerque Chamber, the Department of Finance and Administration, and transportation officials, argued the bill would improve safety, economic development, project delivery, and funding stability, and help preserve federal dollars. Opponents, including the Rio Grande Foundation and some committee members, objected to the tax and fee increases, argued the state should use existing surpluses or other funds instead, and raised concerns about impacts on families, businesses, and local governments. Committee members questioned how projects would be selected, how the new fees were calculated, how EV surcharges would work, and whether local government distributions would be affected. NMDOT said the projects would be reported to the legislature annually, selected using crash data, asset management, and project readiness, but bond approval would remain with the State Transportation Commission. After debate, Representative Romero moved do pass on SB 2 as amended, Representative Hochman-Vigil seconded, and the committee approved the bill 7-2, with Representatives Brown and Dow voting no and several members expressing reservations despite supporting the need for transportation investment.

Transcript Highlights:

• So would that mean that there's no construction? The loan would not be for construction? Mr.
• So, would that mean that there's no construction? The loan would not be for construction? Mr.
• for construction? for construction?
• So does that exclude construction?
• to our construction program. to our construction program.

Keywords: 1187, senate, all

Transcript Highlights:

• The Assembly Banking and Finance Committee is now called to order.
• Nico Molina, on behalf of Capitas and Rapid Finance, with the tweener position.
• Terrell and Veal Hunter, on behalf of the Revenue-based Finance Coalition.
• Housing construction costs continue to rise.
• It's an amazing wonder of our finance system.

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

Transcript Highlights:

• <01:18:46.800> based particularly with our construction based particularly with our construction
• Uh and we construction based businesses.
• what's so critical for our construction what's so critical for our construction based<01:22:17.360
• <01:22:35.120> construction<01:22:35.600> based construction construction based construction
• may not be within their their finances. may not be within their their finances.

Keywords: 958, all

Summary: The committee heard testimony focused on barriers facing minority-owned businesses and on local programs intended to improve access to capital and contracting opportunities. A representative from the U.S. Black Chambers described disparities in minority spending, argued for more intentional and transparent investment in Black communities, and emphasized the need to disaggregate data, hold officials accountable, and expand tools such as the byBlack certification directory. He also stressed that businesses need technical assistance, resources, and opportunities to grow through mergers, consortiums, and joint ventures. The main presentation then came from Larry Forester and Tyrone of Commerce Lexington, who outlined what they called eight major barriers for minority businesses, including limited access to capital, weak mentorship networks, discrimination and bias, bureaucratic hurdles, branding and visibility challenges, stereotyping, generational knowledge gaps, and limited financial literacy. They described several Commerce Lexington initiatives: the Access Loan Program, which brings small businesses before a pool of 26 lenders; a Minority Business Accelerator to help firms scale and connect with prime contractors; and an Opportunity Exchange for business owners to share experiences and lessons learned. They said the Access Loan Program has funded nearly $26 million in loans with an average loan size of about $62,000. Members asked about bias in lending and how to make contracting and certification easier for minority firms. Forester said applications are vetted by a subcommittee before reaching the full lender group, with attention to completeness and readiness, and that only one lender needs to say yes. On contracting, the witnesses said certification can be burdensome and suggested more hands-on help from the state, relationship-building events that include decision-makers, and incentives rather than mandates. They also relayed policy ideas from a business owner, including culturally informed underwriting, public-private matching grants, supplier diversity enforcement, and mentorship tied to capital access. No votes or formal committee actions were taken in the portion provided.