Transcript Highlights:

• So we offer low-interest loan programs for a variety of farm activities, and you'll see a list there.
• So we offer low-interest loan programs for a variety of farm activities, and you'll see a list there.
• So we offer low-interest loan programs for a variety of farm activities, and you'll see a list there.
• So we offer low-interest loan programs for a variety of farm activities, and you'll see a list there.
• So we offer low-interest loan programs for a variety of farm activities, and you'll see a list there.

Keywords: 919, house, all

Summary: The Minnesota Department of Agriculture presented an overview of its budget, staffing, and major program areas, including protection services, marketing, and administration. Commissioners also highlighted concerns about federal funding uncertainty after a January letter suspending active and future USDA awards to the department. They said the issue affected about 13% of the agency’s budget, created confusion for farmers, and briefly disrupted poultry lab testing and HPAI-related work, though they later received assurances from USDA leadership that existing programs would continue processing. The department also described its anti-fraud efforts, including internal controls, a compliance coordinator, a grants administrator, review committees, site visits, and participation in the state’s Inspector General Coordinating Council. The committee then discussed several agriculture support programs. For dairy margin coverage, the department said Minnesota’s sign-up is open and supported a bill to extend assistance to farmers who began operations in 2023-2025 and were not covered under the earlier production-based formula. The renamed Farm to Food Security program, formerly LFPA, was described as a state-created local food purchasing effort funded at $700,000 per year. The down payment assistance grant for first-time farm buyers was also reviewed; the department said it has supported 112 farmers so far, with additional awards pending, but noted timing problems when purchase agreements fall through. Members asked whether priority should be given to applicants with signed purchase agreements, and the department said that was under consideration. The grain indemnity account update focused on the Hansen-Mueller facility failure and related claims. The department said the account holds about $10.7 million, has received 19 claims totaling $1.1 million, and that $842,000 of those claims were tied specifically to Minnesota transactions. It explained the difference by noting that some claims involved Minnesota farmers selling in North Dakota and Wisconsin, and that the indemnity account covers grains sold in Minnesota. The committee also heard updates on elk and wolf depredation payments, with the department projecting shortfalls in both funds and noting that payments are being delayed into later months. The agriculture response fund balance was said to be about $2.5 million. Finally, the Rural Finance Authority and the East Grand Forks potato facility were discussed. The RFA reported strong demand for low-interest loans, about $26 million remaining from the prior $50 million authorization, and a new $50 million bonding request in the governor’s proposal to avoid a funding gap. The department said the program has issued 3,951 loans totaling about $390.3 million with very low defaults. It also requested $1.38 million in bonding for building improvements at the East Grand Forks potato facility, which it said is the department’s only owned building and supports a significant potato industry. In response to a question from Rep. Bang, the commissioner said recent ICE activity had affected farms, processing plants, immigrant workers, and some rural food businesses, and that the department had relayed those concerns to the governor’s office and congressional delegation.

Transcript Highlights:

• <00:14:34.399> to the new revenue stabilization loan to the new revenue stabilization loan
• of be that if you were in this program, um, be that if you were in this program, um, LBA<00:16:26.000
• . program would be passed on to program would be passed on to taxpayers<00:21:14.159> statewide.
• The pro the the program is already open. The pro the the program is already open.
• real low interest loan for screwing up. real low interest loan for screwing up.

Keywords: 1191, senate, all

Transcript Highlights:

• A few other competitive grant programs include the JNR Justice student loan repayment program, which
• as well as our self-loan program.
• provides student loan repayment program provides student loan repayment<01:08:25.199> assist<
• loan repayment programs obviously the loan repayment programs obviously and<01:09:05.759> so<01
• loan repayment programs as those being loan repayment programs as well<01:09:13.839> as<01:09

Keywords: 1187, senate, all

Transcript Highlights:

• <00:27:33.760> and To a roll call, the four KIA loans and the six Cleaner Water Program grant
• Also from our Fund B loan program, the City of Eminence has a Fund B loan in the amount of $622,617 for
• The city of Mount fund B program.
• Also, from our FundB uh loan program,<00:30:43.919> the<00:30:44.080> city<00:30:44.240
• , the city of Eminence has a fund program, the city of Eminence has a fund B<00:30:46.640> loan

Keywords: 00:02 Call to Order and Roll Call 00:45 Approval of Minutes 01:01 Information Items 06:25 Project Rpt from Postsecondary Institutions-KCTCS 10:50 Project Rpt from Finance and Admin Cabinet 18:08 Lease Rpt from Finance and Admin Cabinet 27:12 Rpt from OFM – KY Infrastructure Authority 33:56 Rpt from OFM – CED EDF Grants 47:20 Rpt from OFM – Office of Financial Mgmt 56:53 Adjournment, 958, all

Summary: The committee first handled routine business, including approval of the February meeting minutes and several information items. Those items covered university equipment purchases, school district and transportation-related debt issuances, Northern Kentucky University’s planned construction-manager/general-contractor delivery method for the medical examiner/crime lab relocation project, a lease-space advertisement, postsecondary asset preservation allocations, and lease-law compliance reports. Members then discussed the Northern Kentucky crime lab project in more detail; staff explained that the memorandum of agreement would cover the construction portion while the lease would cover operations, and members were told the project should move forward without procurement problems. The committee approved a Kentucky Community and Technical College System project to modify the fire academy maintenance building after the related dormitory project was set aside because of major cost overruns. KCTCS said the dormitory would be about $3 million over budget, so it would not be bid; instead, the maintenance building would be expanded to add showers and restroom/locker facilities, bringing that project from $2 million to about $3.2 million. The committee also approved a Transportation Cabinet project for the Hardin County I-65 southbound commercial motor vehicle station relocation, with members asking about the estimate, the lack of a direct prior example, and the fact that the loadometer equipment itself would be purchased separately and was not included in the construction estimate. Finance and Administration Cabinet lease items were then considered. The committee approved a Department of Public Advocacy lease in Christian County and a Transportation Cabinet vehicle regulation lease in Kenton County, both negotiated down from initial asking prices and both including utilities. Two lease modifications were reported without action: a Department of Revenue fit-up in Jefferson County and an expanded vehicle regulation lease in Adair County. Members also approved a package of Kentucky Infrastructure Authority items, including four loans and six Cleaner Water Program grant reallocations, covering sewer and water projects such as MSD’s Patty’s Run flood pumping station, Paducah-McCracken County’s wastewater treatment plant, Mount Washington’s lift station replacement, and Eminence’s wastewater plant expansion. Finally, the committee heard a batch of Kentucky Product Development Initiative economic development grants and approved the action items in one vote. The projects included due diligence and infrastructure work for industrial and site-development projects in multiple counties, with local match requirements and KEDFA approvals described for each. The committee also received three line-item water grants from House Bill 1 that required no action, and the meeting ended after the grant presentations and approvals.

Transcript Highlights:

• The programs that would be affected are the Beginning Farmer Loan Program, Seller-Sponsored Loan Program
• , Agricultural Improvement Loan Program, Livestock Expansion Loan Program, and the restructured 2 Loan
• each<00:40:55.319> these loan programs at $50,000 each these loan programs at $50,000 each
• > Loan Loan program seller sponsored Loan Loan program seller sponsored Loan program<00:41:11.640
• a improvement loan program program a improvement loan program livestock<00:41:13.200> expension

Bills: HF1063

Keywords: grain buyers, grain dealer, grain elevator, agriculture, financial reporting, audit, CPA review, independent accountant, financial statement, balance sheet, cash flow, nonpublic data, licensee oversight, Minnesota Department of Agriculture, grain purchase volume, insolvency, nonpayment, warehouse chain, fiduciary duties, producer protection

Transcript Highlights:

• In addition to our loan and grant programs, we also manage the Water Resource Information System, which
• We are also requesting consideration of an additional $25 million to capitalize KIA's state loan program
• We are also requesting consideration of an additional $25 million to capitalize KIA's state loan program
• These bonds will assisted loan programs.
• eligible expense under the loan program. eligible expense under the loan program.

Keywords: Meeting Start 00:00:00 Attendance Roll Call 00:00:09 Approval of Minutes 00:01:10 Welcome New Members 00:01:26 Information Items 00:01:49 COT Special Report 00:02:38 Review of Executive Branch Agency Plans 00:07:41 A. Department of Military Affairs 00:08:07 B. Department of Veterans’ Affairs 00:20:34 C. Kentucky Infrastructure Authority 00:25:54 D. Tourism, Arts, and Heritage Cabinet 00:35:05 E. Transportation Cabinet 00:55:53, 958, all

Summary: The Capital Planning Advisory Board met with a quorum, approved the May 21 minutes, and welcomed a new executive branch member, Secretary Keith Jackson of the Justice and Public Safety Cabinet. The board also received two informational items: agency responses to prior questions and amendments made to capital plans after the last meeting. It then heard the Commonwealth Office of Technology’s report on executive branch IT capital project scoring, which reviewed 16 IT requests totaling about $330.5 million. COOT said projects were ranked through an independent panel using standardized criteria focused on feasibility, statewide alignment, readiness, impact, and risk; the CIO recommended moving an enterprise application and artificial intelligence inventory system from rank 11 to rank 4 because of its enterprise-wide impact and connection to Senate Bill 4. The Department of Military Affairs presented its capital plan, describing 43 million in projects for the current period and 13 projects totaling $65 million for 2026–2028, with most funding coming from federal sources and restricted agency funds and no general fund request in the latter period. Its projects included maintenance pool adjustments, a statewide Army master plan, the Somerset readiness center, Shelbyville and Ashland armories, a future home for the Kentucky Army National Guard band, and other facility upgrades. Members asked about the Somerset project’s cost growth and federal delay; the department said the project remains in conceptual design, is awaiting federal MILCON action, and would require a state match of about $9.8 million against $29.6 million federal funding if it is approved. Members also asked about staffing levels, and the department said state employee and Title 32 numbers have been relatively steady, while technician positions have declined. The Department of Veterans Affairs outlined seven projects for 2026–2028, led by a Radcliff Veterans Center HVAC replacement that needs an estimated additional $16 million to finish phase two after phase one was already funded. Other requests included a maintenance pool increase, renovations and exterior upgrades at Eastern and Western Kentucky veterans facilities, a cooling tower replacement at Thompson Hood, and parking lot and lighting improvements. The department said some projects were already in the six-year plan and that the Radcliff phase two could be bid in June 2026 if funded. Members confirmed that a columbarium wall project at Grayson is federally funded. The Kentucky Infrastructure Authority presented its six-year capital plan, citing more than $3 billion in loan commitments since 1988 and over $5 billion in supported infrastructure projects. KIA requested $298.439 million in the first biennium, including $27.742 million in state match for federal clean water and drinking water revolving funds, $25 million for its state Infrastructure Revolving Fund, $185.697 million in federal capitalization grants, and $30 million in leverage bond authorization for each year of the two federally assisted loan programs. Members asked about drinking-water quality, and KIA said that function is handled by the Energy and Environment Cabinet’s Division of Water, not KIA. KIA also said its loan rates currently range from 0.5% to 2.25%, averaging just under 1%, and that its revolving loan programs have had no defaults. The Tourism, Arts, and Heritage Cabinet began its presentation at the end of the transcript, with staff identifying themselves, but no project details or board action from that presentation were included in the excerpt.

Transcript Highlights:

• We know that the core 7(a) loan program is in need of oversight in terms of understanding the rising
• The SBA Disaster Loan Program, you know, it's critical in supporting small businesses, as you mentioned
• program.
• Chair Ernst has pointed out rising delinquencies in the 7(a) loan program and rising delayed payments
• Because let's face it, the 7(a) loan program, the bread-and-butter loans, That small businesses use to

Transcript Highlights:

• of Commerce, some housing programs, And that was a transfer of some programs from the Department of
• That local loan servicing...
• has for loans per FTE.
• This program is phenomenal.
• Same with the single-family program and the homeless programs.

Keywords: 908, all

Summary: The committee met as the Regulatory Division of the budget section and received updates on several Industrial Commission-related agencies and programs. Legislative Council first reviewed base budget materials, then the North Dakota Housing Finance Agency reported on its current appropriation and staffing, noting that its new FTEs were being filled gradually and that it remained largely funded through special and federal funds. Agency leaders described homeownership lending, loan servicing, and housing incentive fund activity, including below-market mortgage rates, down payment assistance, and a growing servicing portfolio that has increased workload but not yet required additional FTEs. Housing Finance also detailed use of the Housing Incentive Fund and homeless grant dollars. Officials said the multifamily HIF round drew more than $73 million in requests and awarded $25 million, while the single-family program supported rural development and community land trusts. Homeless grant funding was split between emergency shelter, prevention, and rapid rehousing, with performance-based scoring used to renew or reallocate awards. Members discussed housing affordability, aging households, rental assistance, and the need to coordinate housing and site-preparation messaging with Commerce. The agency asked that HIF, single-family, and homeless funding be maintained or increased in the next session. The Department of Mineral Resources then presented its budget and operations update. Staff said the agency was on track financially, had filled most of its new reclamation FTEs, and was not expecting major litigation costs beyond normal late-biennium invoices. The director reviewed agency initiatives including Project North Star IT modernization, organizational restructuring, succession planning, rulemaking, and implementation of the development incentive well tax program and critical minerals rules. He also discussed oil and gas activity, explaining that longer laterals, especially three- and four-mile wells and the first five-mile spacing case, are helping keep production relatively flat even as rig counts ease. Members asked about gas capture, hedging, break-even prices, and the effects of Iran and Venezuela on oil markets. The committee also heard about enhanced oil recovery grants and the Pipeline Authority. The EOR program’s $25 million appropriation was fully allocated to six projects, with total awards reaching about $45.1 million when other fund balances were included, subject to a possible 5% reduction if federal DOE money does not materialize. Officials said the projects are public, reimbursement-based, and will produce results over the next several years. Finally, the Pipeline Authority outlined natural gas transmission projects, including the imminent Bakken Express line and the proposed Bakken East project, which WBI was selected to advance after an Industrial Commission RFI process. The project is moving through open season, survey permission, and regulatory work, with in-service dates projected for 2029 and 2030.

Transcript Highlights:

• She urged support for SB 886, saying it would create a new affordable housing loan guarantee program
• loan guarantee program<00:59:14.760> because<00:59:14.960> it'll<00:59:15.280> help<
• , so a federal loan guarantee for multifamily rental housing, which is a successful program.
• I would also say housing supported by the loans guaranteed under this program would be affordable.
• We would also make sure, I would say, that loans that apply for guarantees under this program are not

Keywords: 1191, senate, all

Transcript Highlights:

• They close, um, they choose to close their home equity loan.
• sales could have been home equity loans.
• Not one of the loans.
• We were the last state to bring in equity loans.
• That's not in an equity loan. An equity loan is a less. Problematic. That's my opinion.

Bills: HJR40

Keywords: Medicaid, healthcare access, Affordable Care Act, federal funding, constitutional amendment

Transcript Highlights:

• You can take out a payday loan or an online payday loan. You could incur a late fee.
• Loans are still very much covered under the Small Loans Act. Thank you.
• New Mexico's law agrees it's a loan. These are loans.
• However, these products share several similarities to traditional payday loan programs.
• One is the payday loan program, which this body, I was not a part of, but determined that 36 percent

Transcript Highlights:

• There could be others that are direct federal programs.
• There could be others that are direct federal programs.
• Is it a loan that's what I'd call evergreen?
• The payoff of that loan will end in June, and so we won't be pulling any money off of this loan until
• This loan, this specific $4.7 million—what are you using those loan proceeds for?

Summary: The committee considered several appropriation and transfer requests, beginning with a $273,000 temporary appropriation for the Department of Labor and Licensing to cover administrative costs for its enterprise licensing platform, funded by license and application fees. It then reviewed two large Infrastructure Investment and Jobs Act requests: $280 million for the Department of Transportation for the final quarter of the fiscal year, and $195 million for the State Broadband Office to support the Arkansas BEAD broadband grant program, including an extra help position and grants to internet service providers. The broadband item drew extensive questions about awardees, contract amendments, accountability, build-out timelines, backup plans if providers default, the definition of broadband serviceable locations, and the cost per location. The State Broadband Director said no providers had requested amendments, the program would use milestone-based disbursements and a four-year build-out period, and the first tranche would serve 51,566 homes and businesses with $126.1 million in grants. Both Section B and Section C items were approved. In Section D, the committee approved a $458,000 transfer within the Department of Correction from the female work release program to the Tucker Unit water treatment plant, a $25 million transfer within the Department of Education to cover declining enrollment, teacher incentive, school recognition, and Easter Seals funding, and a $229,000 transfer for the Department of Shared Administrative Services to support two project management office positions. The education transfer prompted questions about how declining enrollment funding is calculated, how many districts receive it, and how long districts can continue to receive it; agency staff said 152 districts were on the preliminary list and the formula is based on the prior two-year average ADM compared with the previous year. The committee also gave favorable advice on a proposed $4.7 million loan for the Office of State Technology to implement ServiceNow and related IT modernization tools; agency officials said the loan would be repaid through cost recovery rates over five years and would replace an existing loan that is ending, with expected savings from consolidating applications but no precise savings estimate yet. The committee then reviewed cash fund and federal grant requests, including $200,000 for wage and hour claimant payments, $15 million for unclaimed property claims, $8,000 for a heritage program grant, and $1.1 million for a College and Career Coaches grant to expand services in rural districts. It also reviewed pay plan and budget manual items without objection. The most extensive report discussion focused on the Medicaid trust fund, where DHS and DFA officials said the balance has been declining and that the state may need to add capital back into the fund. Senators and representatives asked about the current balance, the projected year-end level, the role of the $100 million set-aside, the impact of outstanding Medicaid rules from the prior session, and whether future federal funding could help reduce long-term Medicaid costs. Officials said they are still working through more than 10 outstanding rules with CMS and do not yet have a final price tag for those changes. The meeting ended after the reports were reviewed and the committee adjourned.

Transcript Highlights:

• The emerging contaminants loan will be a 100% principal forgiveness loan.
• The emerging contaminants loan will be a 100% principal forgiveness loan.
• The emerging contaminants loan will be a 100% principal forgiveness loan.
• Um, on the fund B and the fund<00:34:00.000> F<00:34:00.240> loan fund F loan fund F loan
• would not um give loan proceeds to them. would not um give loan proceeds to them.

Keywords: 0:00:08 Call to Order and Roll Call 0:00:38 Approval of Minutes 0:01:02 Information Items 0:02:17 Lease Rpt from Postsecondary Institutions 0:06:42 Project Rpt from Finance and Administration Cabinet 0:15:03 Lease Rpt from Finance and Administration Cabinet 0:24:00 Rpt from OFM – KY Infrastructure Authority 0:42:55 Economic Development Fund Grants 0:53:38 Rpt from OFM – New Debt Issues 1:16:33 Remaining 2025 Meeting Dates 1:16:45 Adjournment, 958, all

Summary: The committee first handled routine business, including roll call, approval of the July minutes, and several informational reports. Those reports included a University of Kentucky restricted-fund medical equipment purchase for Chandler Hospital, debt issues for five school districts, Eastern Kentucky University’s planned model laboratory school using construction management risk delivery, a Division of Real Properties lease advertisement, Kentucky Communications Network Authority quarterly project reports, and EKU asset preservation revisions. Members then heard and approved a new UK St. Clair Urgent Care Clinic lease in Morehead and an amendment expanding space for the UK Family and Community Medicine Clinic at Turflin Clinic. Testimony explained that both properties are privately owned, the Morehead lease predated the UK/St. Clair arrangement, and the Turflin Clinic is tight on space. The committee also approved three new projects and an appropriation increase: two Department of Military Affairs projects, a Window Ford Training Center underground electric project and a Williamsburg Readiness Center interior repair project, a Fish and Wildlife property acquisition adjoining Veterans Memorial Wildlife Management Area, and an $8.113 million increase for the Department of Revenue integrated tax system (DORIS). The DORIS increase was described as needed for change orders tied to legislation and to complete the unified tax system. The committee next reviewed no-action items, including a $3 million emergency flood-damage repair project for the Bush Building and Vest-Lindsay House in Frankfort, and three pool projects over $1 million: a Kentucky Correctional Institute for Women window replacement phase 2 project, a Department of Criminal Justice Training interior refurbishment at Thompson Hall, and the Muddy Gut Branch stream mitigation project in Johnson County. The flood project was confirmed to be fully reimbursed by insurance proceeds. Finally, the Kentucky Infrastructure Authority presented six loans and nine grants. Action items included water and sewer financing for Cumberland County, Lebanon, Northern Kentucky Water District, Lewisport, and Providence, plus a major Taylor Mill treatment plant project and several cleaner water grants and reallocations. Members asked about loan rates, local rate increases needed to repay debt, and the Providence emergency water interconnect; staff explained that Lewisport had begun a rate increase process, and that the Providence project would connect Webster County Water District and the city of Providence to stabilize pressure after a systemwide failure. All action items were approved.

Transcript Highlights:

• loan.
• I know for most of them these are going to be 10% loans, so these are not major loans.
• repay that loan.
• And without a loan.
• some of those programs and then alternative certification programs.

Transcript Highlights:

• KIA loan amount to 2,939,475.
• Planning and design loans are offered as five-year loans, and this loan has a 2.75% interest rate and
• This will bring their total KIA loan This will bring their total KIA loan amount<00:13:42.639>
• Uh their loan is in the Flatwoods.
• <00:23:35.039> single KHC home buyer program. Yeah. single KHC home buyer program.

Keywords: November 20, 2025 00:12 Call to Order and Roll Call 00:58 Information Items 06:50 Finance and Administration Cabinet 09:10 KY Infrastructure Authority 21:20 Office of Financial Management 29:14 Meeting Recessed 44:58 Reconvened 45:07 Approval of Minutes 46:35 Next Meeting Date 47:05 Adjournment, 958, all

Summary: The committee met without a quorum for much of the meeting, so several agenda items were initially heard only for information. Early updates included six informational reports, such as an Auditor of Public Accounts compliance examination with no findings, university equipment and allocation reports, school district bond issuances, Western Kentucky University’s planned public-private partnership housing redevelopment, and quarterly Kentucky Communications Network Authority reports. Members then questioned WKU officials about the P3 housing project, including the number of RFQ responses, property tax responsibility, ownership of the student life foundation, and the status of repairs to residence halls. WKU said the foundation has owned the property since 2000, one hall would be razed or demolished at the end of the academic year, and repairs to the other two were expected to be completed by fall 2027. The committee also heard a Department of Fish and Wildlife Resources acquisition project for Mount River Farms in Wayne County and a Department of Corrections roof replacement project at Luther Luckett Correctional Complex, but no votes were taken until a quorum was later established. The Kentucky Infrastructure Authority then presented six loans and four grant reallocations, including loan increases for Adair County Water District and the City of Harlan, new loans for Litchfield, Louisa, Southeastern Water Association, and Flatwoods, and grant reallocations under the Cleaner Water Program. Members asked about Harlan’s 30-year term and special condition requiring a revenue increase; KIA explained the longer term is reserved for disadvantaged communities and that the condition was meant to reinforce standard debt coverage requirements, while depreciation is reviewed but not included in cash-flow calculations. After a recess, Senator Thomas arrived and a quorum was reached. The committee approved the prior minutes and then took a consolidated vote on the action items, which passed. The final items included a Kentucky Economic Development Authority revenue bond refunding for CommonSpirit Health, several Kentucky Housing Corporation conduit and single-family bond issuances, a Western Kentucky University bond issuance, and SFCC debt issues. Members discussed the housing transactions, noting they are developer-financed and not subject to a traditional bidding process, and expressed concern about whether the process could produce more units for the same amount of money. The meeting adjourned after all information items were approved and the next meeting date was announced.

Transcript Highlights:

• The RFA beginning farmer loan program helped us kind of fill the gap there.
• Loan program which was beginning farmer Loan program which was one<00:04:24.400> of<00:04:24.520
• <00:04:44.120> of<00:04:44.400> fill<00:04:44.720> the Loan program helped us
• kind of fill the Loan program helped us kind of fill the Gap<00:04:45.240> there<00:04:46.160
• The RFA's loan programs, including the beginning farmer loan program and restructuring loan program,

Keywords: 1183, house

Transcript Highlights:

• repayment program.
• repayment program.
• repayment program.
• loan repayment program.<00:03:59.280> On<00:03:59.519> line<00:03:59.760> 34,<00
• To reduce the appropriation for the rural veterinarian loan repayment program by $100,000 per biennium

Keywords: 1183, house

Transcript Highlights:

• open<00:13:25.120> to have a loan program that is open to have a loan program that is open
• And just to is the access loan program.
• So we've loan program uh that we have.
• <00:40:28.720> that of our loan program and uh others that of our loan program and uh others
• I um uh companion state loan program.

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.

Transcript Highlights:

• service coverage ratio loan.
• , family loans, household loans from the fee cap.
• <00:41:48.800> That's service cover ratio loan. That's service cover ratio loan.
• loans, household loans from the fee cap. loans, household loans from the fee cap.
• the program?

Keywords: 1187, senate, all

Transcript Highlights:

• Uh, this is the transfer bill that creates the Gulf Coast Restoration Revolving Loan Program, especially
• What will happen in this program is this will be a low-interest loan for eligible projects.
• I think you're familiar that they have a program that's already called the MDA small business loan program
• The School District Emerging Bridge Loan Program is $625,000. The State General Fund is $44,876.
• The GCRF Loan Revolving Loan Program Fund is $14,729,000.

Keywords: MS Senate Floor - 2 April, 2026; 10:00 AM, 925, all