Transcript Highlights:

• And so is there an expectation that, if we're holding the mutual fund or if we sell a mutual fund, are
• ><00:47:35.319><c> of</c><00:47:35.480><c> other</c> mutual funds and a bunch of other mutual funds and
• c><00:48:37.760><c> there</c> which is a mutual fund and so is there which is a mutual fund and so is
• c><00:48:41.720><c> we</c> holding the mutual fund and or if we holding the mutual fund and or if we
• That's why the mutual funds are excluded, because you don't have the ability to direct the mutual fund

Committee: Senate Elections

Keywords: 1187, senate, all

Transcript Highlights:

• We do not come from trust funds. We are not big business. Property ownership is a tool.
• From January 25, 2026, the Consumer Price Index has averaged 2.4%.
• In January 2026, the Consumer Price Index has averaged 2.4%.
• My union pension fund, other union pension funds, the AFL-CIO Housing Investment Trust, and the Endura
• No investment—my pension fund is not going to invest in a real estate project.

Bills: H5008

Committee: Joint Special Joint Committee on Initiative Petitions

Keywords: rent control, housing stability, tenants rights, affordability crisis, consumer protection

Summary: The Special Joint Committee on Initiative Petitions held a public hearing on Initiative Petition 25-21, House Bill 508, an act to protect tenants by limiting rent increases. The chair explained the ballot process under Article 48 and outlined the hearing structure. The first witness, a Harvard Joint Center for Housing Studies researcher, described Massachusetts’ worsening rental affordability, explained how rent regulation policies are typically designed, and reviewed research suggesting rent regulation can slow rent growth and improve tenant stability, while also noting concerns about reduced supply, quality, and implementation details. She compared the proposal to other state and local rent-stabilization laws and said the measure would cap increases at the lower of CPI or 5%, exempt certain housing types, and apply to new tenants as well as current tenants because it would not allow vacancy decontrol. Supporters of the petition argued that rent stabilization is needed to address displacement and immediate affordability pressures while broader housing production continues. The proponent from Homes for All Massachusetts said the policy is a grassroots response to corporate rent hikes and cited examples of tenants facing steep increases. A tenant from Arlington described a long dispute after a building was purchased by an investment firm and rents were raised sharply, saying the experience showed how rent increases can function as eviction. A union leader said high rents are forcing workers out of the communities they serve, and two experts testified that rent stabilization can reduce displacement and provide broad, immediate benefits. Committee members asked about the proposal’s exemptions, the 10-year new-construction carveout, vacancy decontrol, and whether the policy could discourage development; supporters said the bill targets large landlords, preserves room for small owners, and should be viewed as a complement to new housing production. Opponents, including small property owners, a chamber of commerce representative, a union official, and a landlord, argued the measure would hurt small landlords, reduce investment, and slow housing production. They said operating costs such as taxes, insurance, and maintenance rise faster than the proposed cap, and warned that capping rents would lower property values and tax revenues. Several opponents emphasized that many housing providers are not large corporations but local “mom-and-pop” owners, and one said the proposal would discourage pension funds and other investors from financing new projects. Committee members pressed opponents on what alternatives they would support for affordability, and opponents pointed to increased housing production and other housing policies instead of rent control. No vote or final action was taken at the hearing.

Transcript Highlights:

• The state's rainy day fund balance stands at about $8.3 billion.
• We have record funding for schools and essential services.
• With such a dramatic rollback in state funding, that goes away, right?
• We're first, right, as far as their public school funding goes.
• And the loss of funds for the Commonwealth, in terms of economic activity, And the loss of funds for

Keywords: 995, all

Summary: The Special Joint Committee on Initiative Petitions held a public hearing on two proposed ballot initiatives: one to reduce the state personal income tax rate from 5% to 4% over three years, and another to revise the state’s tax collection cap/62F process so it would be based on prior-year collections plus wage growth and include surtax revenue. The committee chair and House co-chair outlined the hearing process, and the first witness was Doug Howgate of the Massachusetts Taxpayer Foundation, who testified as the committee’s subject-matter expert on both measures. He said the income tax proposal would lower taxes broadly but would reduce state revenue by about $5.4 billion when fully implemented, with an estimated $800 million hit in FY27, and he discussed possible effects on competitiveness, taxpayer savings, and public finances. On the 62F proposal, he said the revised cap would make refunds more likely, could have produced several large refunds in recent years, and would reduce stabilization fund deposits and constrain recovery after recessions. Committee members questioned Howgate about competitiveness, outmigration, prior tax ballot measures, spending growth, MassHealth, and the interaction between the income tax and surtax. He emphasized that taxes are only one part of the state’s overall competitiveness and that housing, public services, and other factors also matter. He also noted that the surtax is constitutionally restricted but can still support ongoing spending choices. After his testimony, the committee moved to the proponents’ panel. Proponents of both initiatives, including representatives from Taxpayers for an Affordable Massachusetts, the National Federation of Independent Business, Pioneer Institute, and the Mass Opportunity Alliance, argued that the measures would improve affordability, help retain residents and businesses, and support job growth. They cited polling support, outmigration, small-business reinvestment, and comparisons to lower-tax states such as North Carolina. Their economist, Rebecca Paxton, said her model showed smaller revenue losses than critics claim and projected that the revised revenue cap would not create additional annual revenue losses while producing more regular taxpayer refunds. Committee members pressed the panel on competitiveness, prior ballot initiative implementation, and whether the measures would actually address broader affordability pressures; the hearing ended with the committee continuing to take questions from the proponents.

Transcript Highlights:

• If we would not renew this, we would need to find money in the general fund to pay these operational
• First, it ties annual property tax growth to the Consumer Price Index, or CPI.
• CPI, or Consumer Price Index, is based on that pace.
• And then from that moment on, he would be held to the CPI index increase of the value of his property
• Every other fund that we had in parish government... That's probably the only example I can use.

Summary: The Ways and Means Committee met on March 26 and first reported favorably HB 287, which renews the Louisiana Tax Commission’s authority to levy certain fees used to fund its operations. The author and Tax Commission representatives said the fee supports the commission’s appeals and assessment work and is not a new charge. The committee then adopted a technical amendment and reported HB 553 favorably as amended; that bill expands the Assessor Certification Program Committee from 5 to 11 members and adjusts education and recertification requirements for assessors. The committee then took up HB 412, a constitutional amendment on property assessment and reappraisal. After an amendment in concept was adopted to remove the bill’s proposed 30-year homestead exemption, members questioned the remaining provisions, which would tie annual assessment growth to CPI and move the reassessment cycle from four years to five. The author, assessors, and local government representatives debated whether the proposal would create predictable tax growth or instead leave many properties assessed below market value and shift burdens to businesses and local services. The author ultimately voluntarily deferred HB 412 and its companion HB 340 for further work. Members next heard HB 514 and HB 961, both senior-property-tax measures, but both were voluntarily deferred after brief discussion and technical amendments. HB 514 would have created an optional additional homestead exemption for certain homeowners age 65 and older, phased in over time and tied to income and a surviving-spouse provision; HB 961 would have extended related eligibility to certain trusts. The committee also deferred HB 515, 543, and 540 to future meetings. Finally, the committee favorably reported HB 521 and HB 570, both dealing with millage and reassessment rules. Supporters, including local government and industry groups, argued the bills would give taxing authorities more flexibility to avoid being forced to levy the maximum millage simply to preserve future authority. Assessors and local officials explained current reassessment and roll-forward rules, while the author said the bills would reduce pressure to overtax residents and businesses. HB 521 was reported favorably, and HB 570 was reported favorably as amended after adoption of a six-part amendment set, mostly technical changes.

Transcript Highlights:

• These requirements do not apply to mutual water companies, leaving shareholders of a mutual water company
• I served John Perez and dealt with Maywood Mutual Water Companies.
• And it is mutual water companies: only shareholders get water.
• Mutual water companies: only shareholders get water.
• None of that applies to mutual water company.

Committee: Senate Energy, Utilities and Communications

Keywords: 987, senate, all

Transcript Highlights:

• guidance and recommendations to the legislature on what workforce education priorities should be funded
• from the Workforce Education Investment Account and ensures that the investments funded from the account
• to consult with the Student Achievement Council when reviewing and determining whether investments funded
• And the only funding that WOSAC receives for this board accounts for one FTE to staff the board, which
• So as I mentioned earlier, this board cannot appropriate or allocate any sort of funding.

Summary: The Postsecondary Education and Workforce Committee held public hearings on two bills. Substitute Senate Bill 5931 would make administrative changes to the Workforce Education Investment Accountability and Oversight Board, including extending co-chair terms from one to two years, allowing more than four meetings per year, requiring consultation with the Student Achievement Council when evaluating outcomes, and removing the statutory public dashboard requirement. Staff and the bill sponsor, Senator Warnick, described it as a technical, no-fiscal-impact measure requested by the Student Achievement Council. Joel Anderson of WOSAC testified in support, explaining that the board’s role is advisory, that the bill would improve operations, and that WOSAC has spent significant staff time tracking Workforce Education Investment Account spending, especially carry-forward appropriations. The committee then heard Senate Bill 5963, which would modify Passport to Careers and Washington College Grant eligibility. The bill would automatically make Passport to Careers students income-eligible for the Washington College Grant beginning in the 2026-27 academic year, align the Passport financial-need formula with the federal student aid index, and direct Passport funds into the state financial aid account. Staff noted the bill was identical to the House companion. Testimony from WOSAC, the Washington Student Association, and a Western Washington University student representative all supported the bill, emphasizing the high barriers faced by former foster youth and unaccompanied homeless youth and the value of guaranteed, earlier access to aid. Senator Nobles said the bill would fulfill the state’s promise to help these students access higher education and would not increase costs. At the close of the hearing, the chair announced amendment deadlines for possible Tuesday executive action: requests due Monday at 10 a.m. and approval by 6 p.m. The committee planned to caucus and did not meet on Friday.

Transcript Highlights:

• These requirements do not apply to mutual water companies.
• These requirements do not apply to mutual water companies, leaving shareholders of a mutual water company
• And it is mutual water companies: only shareholders get water.
• None of that applies to mutual water company.
• of art for public agencies, not for mutual water companies.

Committee: Senate Energy, Utilities and Communications

Summary: The committee heard a long agenda of energy, water, and utility bills. SB 952, SB 1417, SB 924, SB 925, SB 1011, SB 1168, SB 1196, and SB 1350 were all discussed, along with consent items SB 1008 and SB 1245. SB 952 would give the Department of Water Resources more flexibility in meeting clean energy procurement goals for the State Water Project; it drew support from the State Water Contractors and California Municipal Utilities Association and no opposition. SB 1417 would extend transparency and notice requirements to mutual water companies, especially in response to wildfire-related rate increases in Altadena; supporters described lack of notice, meeting access, and public accountability, while the California Association of Mutual Water Companies opposed the bill as overly prescriptive and potentially conflicting with existing law. SB 924 would modernize low-income energy assistance and weatherization programs to better measure affordability outcomes and tenant benefits, and it passed with broad support. SB 925 would direct the Energy Commission to develop a statewide roadmap for fusion energy; it was supported by industry and clean energy groups and passed without opposition. SB 1011 would require CPUC standards for human review of utility AI systems and labor consultation; supporters framed it as a safety and workforce protection measure, while utilities and business groups warned about cost, duplication, and overbroad regulation. SB 1168, now a study bill, would have the CPUC examine how data centers pay for load growth and rate impacts; it drew mixed reactions, with some industry opposition and some labor support after amendments. SB 1196 would speed utility hookups for ADUs and JADUs by allowing earlier applications and setting timelines; housing advocates supported it and it passed. SB 1350 would allow renewable portfolio standard credit for power plants using green hydrogen, with strong support from hydrogen, labor, and utility interests, but TURN opposed it unless amended, arguing it lacked safeguards against greenwashing and resource shuffling. The committee also approved the consent calendar and several bills were reported out on recorded votes, with most measures advancing on strong bipartisan support and a few no votes from Senators Strickland and Dahle on selected items.

Transcript Highlights:

• </c> infringements with a taxpayer funded infringements with a taxpayer funded study.<00:26:28.400><c
• </c> wherever and they they u they're funded wherever and they they u they're funded for<00:53:42.400
• Our funding model was funding it at around about $120,000 or $130,000 and hitting about $150,000.
• . fund. fund.
• it funded all They did not fund and it funded all three<02:28:59.680><c> of</c><02:28:59.840><c> those

Keywords: 916, all

Transcript Highlights:

• </c> of funding there's also federal funds of funding there's also federal funds which<00:13:48.320><
• There's funding flow primarily into three major funds.
• There's funding flow primarily into three major funds.
• fund, and trunk highway fund mentioned here.
• </c> fund so you can see uh Aeronautics fund fund so you can see uh Aeronautics fund is<00:51:59.880>

Keywords: 1183, house

Transcript Highlights:

• that zone where it's hard to read, but I can tell you that we're at about a 94% customer satisfaction index
• 18.959><c> 94%</c><00:09:19.760><c> customer</c><00:09:20.160><c> satisfaction</c><00:09:20.880><c> index
• </c> about a 94% customer satisfaction index about a 94% customer satisfaction index which<00:09:21.839
• 2019, and this is the short title: to delete the provision that ceases payment of lottery proceeds fund
• monies into the state highway fund.

Committee: Joint Highways and Transportation

Keywords: Highways and Transportation - Room 216, January 14, 2026; 10:30 AM, 925, all

Transcript Highlights:

• So these are our capital projects fund; that's the Permanent Building Fund.
• On the bottom there, it says Millennium Fund, Traditional Fund, $70 million.
• and demand careers fund.
• Fund.
• That's the Fed funds rate.

Keywords: 989, all

Summary: The committee was convened to review Idaho’s economic outlook and general fund revenue projections for fiscal years 2025-2028, with members instructed to submit “homework” revenue estimates by noon the next day so staff could compile committee averages and medians for deliberations and a final recommendation to JFAC. Opening remarks emphasized the committee’s constitutional charge, the use of the binder materials and online packet, and that the committee would meet again the next day to discuss and vote on the revenue projection recommendation. Staff and agency presentations focused on the state’s budget and revenue picture. Legislative Services Office staff described structural imbalance concerns, noting that statutory spending changes and earmarked sales tax distributions have crowded out flexibility, while cash reserves remain substantial. The Division of Financial Management’s economist explained the official revenue forecast, including revised treatment of sales tax and tax relief fund accruals, and said the forecast largely held steady overall even as corporate and individual income tax categories shifted. She also discussed the impact of the federal One Big Beautiful Bill Act on SALT deductions and said recent corporate collections had rebounded sharply, suggesting timing and behavior changes rather than a broad economic downturn. Outside economists and labor experts painted a generally stable to positive economic picture. Zions Bank’s economist said the Federal Reserve is likely near the end of major rate cuts, long-term rates and mortgage rates remain elevated, tariffs have risen sharply, but inflation has not yet shown broad tariff-driven acceleration; he described the national labor market as slowing but not contracting and said 2026 could be a rebuilding year. The Idaho Department of Labor reported that Idaho’s unemployment remains historically low, job growth is steady, wage growth is moderating from overheated pandemic-era levels, and the state’s labor market remains healthier and more balanced than the national picture. The committee also heard from Idaho Power’s economist, who began a presentation on broader economic conditions and utility-related demand trends before the transcript ended.

Transcript Highlights:

• Engrossed House Bill 4626, relating to the establishment of a grant program to fund the United States
• Engrossed House bill 5323 relating to indexing of license and stamp fees.
• relating to indexing of license and stamp fees, second reading of the bill.
• House Bill 5692, Supplemental Appropriation, State Road Fund. First reading of the bill.
• Engrossed Committee Substitute for House Bill 5168, to increase funding for EMS first responders.

Keywords: 994, senate, all

Transcript Highlights:

• of Safety: highway funds and general funds.
• of Safety: highway funds and general funds.
• Safety Highway funds and General of Safety Highway funds and General funds<00:13:00.720><c> the</c><00
• funds totaling funds the highway funds totaling approximately approximately approximately 263<00:13:
• </c> funds um what goes into the highway fund funds um what goes into the highway fund is<01:15:27.000

Keywords: 928, house, all

Summary: The Department of Safety presented an overview of highway fund and unrestricted revenue collections, focusing on the Division of Administration, the Road Toll Bureau, and the Division of Motor Vehicles. Amy Newbery explained that the main unrestricted funding sources are highway funds and general funds, with highway fund revenue of about $263 million in FY 2024 and a FY 2025 projection of $261.2 million. She said revenue growth has been modest and has not kept pace with costs, creating structural deficits that required general fund transfers of $50 million in FY 2022-23 and another $10 million in FY 2024-25 to balance the fund. Jennifer Hall described Road Toll operations, including motor fuel tax collection at the distributor level, compliance enforcement, and licensing for fuel distributors, transporters, IFTA carriers, and oil discharge/pollution control. Members asked about IFTA, dyed-fuel enforcement, the possibility of using the state forensic lab for dyed-fuel testing, and whether audit positions had been filled; the department said it recently hired a part-time fuel enforcement officer, still uses IRS testing, could explore lab testing, and had no audit vacancies. Hall also discussed factors affecting fuel-tax revenue, including gas prices, crude oil forecasts, weather, tourism, GDP, and inflation, and said FY 2024 road toll revenue was $127.5 million, above plan, with FY 2025 projected at $127.71 million. The committee then turned to DMV-related revenues. Newbery said motor vehicle registration revenue was $93.1 million in FY 2024 and is projected at $90.4 million in FY 2025, with the state share going directly to the highway fund. Members asked about the state/town fee split, the five-year registration cycle dip, the distribution of registration revenue by vehicle weight category, and the impact of electric-vehicle surcharges; the department said the five-year dip is still occurring and will fade over time, and it would follow up on the weight-category breakdown. The presentation also noted that driver-license revenues have stabilized, inspection revenues remain steady, plea-by-mail revenue was added to the highway fund in FY 2024, and general fund revenues tied to the department are relatively small and have declined as some functions moved to OPLC. No votes or formal actions were taken.

Transcript Highlights:

• </c> state or federal funding. state or federal funding.
• This is indexed. So it's not actual 100. This is indexed.
• </c> a a price index. a a price index.
• </c> fund is down by 10.5%. fund is down by 10.5%.
• This is for all funds, not just general funds.

Keywords: 912, senate, all

Transcript Highlights:

• These requirements do not apply to mutual water companies.
• These requirements do not apply to mutual water companies, leaving shareholders of a mutual water company
• shareholders, except in mutually agreed-upon situations.
• Mutual water companies are not allowed to sell water to tenants of shareholders except in mutually agreed-upon
• And it is mutual water companies: only shareholders get water.

Summary: The Senate Committee on Energy, Utilities and Communications heard a long agenda of energy, water, housing, and technology bills. SB 952 (Laird, presented by Perez) would give the Department of Water Resources more flexibility to meet the State Water Project’s 100% clean energy procurement goal by 2035 while managing costs; it drew support from the State Water Contractors and California Municipal Utilities Association and no opposition. The committee also heard SB 1417, which would extend transparency, notice, and public meeting requirements to mutual water companies’ rate increases; Senator Perez and supporters tied the bill to post-Eaton Fire recovery in Altadena, while the California Association of Mutual Water Companies opposed it, citing conflicts with tenant billing laws, privacy concerns, and burdensome meeting requirements. SB 1417 was approved on a split vote and the roll was left open. Members then considered SB 924, a low-income utility assistance/weatherization bill by Hurtado, which would require measurable affordability outcomes and better tenant-focused benefits; it passed to Appropriations with broad support from clean energy and community groups and no opposition. SB 925 (McNerney) would direct the California Energy Commission to develop a statewide roadmap for fusion energy; supporters from General Atomics, Clean Air Task Force, and TAE Technologies argued it would help keep fusion investment in California, and it passed unanimously to Environmental Quality. SB 1011 (McNerney) would require CPUC standards for human review and labor consultation before utilities deploy AI in operations; labor and utility engineer witnesses supported guardrails, while business and utility groups opposed or sought more review, warning of overregulation and overlap with other laws. The bill passed to Privacy, Digital Technology and Consumer Protection on a divided vote. The committee also advanced SB 1168 (McNerney), a study bill directing the CPUC to examine how data centers can pay their fair share of grid costs; data center and utility groups were opposed or neutral pending amendments, while climate advocates supported it, and it moved to Revenue and Taxation. SB 1196 (McNerney) would speed utility hookups for ADUs and JADUs by allowing earlier applications and setting timelines and penalties; housing advocates supported it and it passed to Local Government. SB 1350 (McNerney) would allow renewable portfolio standard credits for power plants using green hydrogen, drawing strong support from hydrogen, labor, utility, and local government interests, but opposition from TURN over greenwashing and tracking concerns; it passed to Environmental Quality. Finally, SB 1158 (Stern) would expand quarterly reliability reporting by the CEC and CPUC to include transmission and grid upgrade status; it was presented as a common-sense reliability measure and moved forward with support.

Transcript Highlights:

• Fund, capped at 2.2%.
• with an annual allotment that indexes facilities funding to student attendance growth.
• So this is getting rid of that as the funding mechanism, and it's providing an indexed formula for the
• That as the funding mechanism, and it's providing an indexed formula for the amount.
• and the Texas University Fund.

Committee: Senate Education K-16

Summary: The committee heard and discussed several higher education and public school bills. Senator Burwell presented SB 1242 to remove an outdated Coordinating Board approval requirement for Texas State Technical College land and facility acquisitions, and SJR 59 to create a constitutionally dedicated endowment for TSTC capital needs; both drew strong support from industry and workforce groups and were left pending. SB 757, by Senator Middleton, would create a debt-to-earnings accountability system for public college programs, with supporters saying it would protect students from low-value degrees and opponents warning it could unfairly penalize programs with long-term value, especially graduate, medical, and public service fields; it was also left pending. SB 1241, by Senator Millington, would expand acceptable college entrance exams beyond the SAT and ACT, including the Classic Learning Test, and was left pending after testimony from CLT, homeschool, and student groups in support. SB 1085, by Senator Blanco, would let Sul Ross State University offer lower-division courses at its satellite campuses in the Middle Rio Grande region; it too was left pending. The committee then took up a series of public school and higher education measures, voting several out favorably. SB 605, as substituted, limits commissioner approval of charter school expansion amendments for schools under conservatorship or a management team and was reported favorably 9-0. SB 1871 and SB 1873, both by Senator Perry, were revised to narrow teacher immunity, clarify removal and suspension procedures, require periodic review of in-school suspension placements, and align discipline rules; both substitutes were adopted and reported favorably. SB 1872, SB 1874, SB 762, SB 1962, SB 1750, SB 2252, SB 2253, SB 2365, SB 1924, and SB 37 were also considered, with most reported favorably on party-line or near-unanimous votes. SB 1750 would replace a flat charter school facilities funding cap with an attendance-based formula; SB 2252 and SB 2253 address kindergarten readiness, early literacy/numeracy, and educator preparation; SB 2365 concerns student phone use during instructional time; SB 1924 restores local citation authority for certain school offenses and adds reporting, notice, and completion requirements; and SB 37 would expand state oversight of higher education curriculum, governance, faculty senates, and compliance with state law. Other measures heard included SB 769, which would require a Coordinating Board report on barriers faced by students with disabilities in higher education; supporters emphasized the need for better data and accessibility, while witnesses suggested broader reporting on race, disability types, and K-12-to-college transitions. SB 2231 would designate a Free College Application Week in October and was left pending. SB 1878 would modernize the Josie School statute and provide formula funding and aid eligibility for Polytechnic College. SB 1409 would authorize universities to offer self-funded student health benefit plans, with Rice University and Texas 2036 supporting the measure as a way to lower costs and expand coverage. SB 2431 would require universities to give foreign language credit for study abroad programs, SB 2314 would require schools to inform students about opting in or out of record sharing for direct admissions through My Texas Future, and SB 2138 would extend the state’s anti-ESG contracting restrictions to public higher education endowments and governing boards; these later bills were introduced and left pending.

Transcript Highlights:

• are funded to 110%.
• funded to 120%.
• And I wanted to fund that.
• They're funded annually by the legislature, and we'll get into some of those previous funding models
• It was a static funding amount.

Summary: The Human Services Subcommittee met with a quorum present and took up a presentation from the Department of Children and Families on HB 7089, which revises how Florida’s community-based care (CBC) lead agencies for child welfare are funded. Representative McFarland described the bill’s background, arguing that the prior formula relied too heavily on outdated, static factors and produced inequities among CBCs. She emphasized that the new approach is intended to provide a more stable, transparent, and statute-based funding method that better supports prevention, case management, and family services while reducing year-to-year political uncertainty. DCF Chief of Staff Casey Penn explained that HB 7089 required an actuarially sound, reimbursement-based formula developed with CBC and provider input. The new model uses a cost-based structure with three tiers: Tier 1 for operational and administrative costs, Tier 2 for per-child/per-month service costs, and a possible Tier 3 incentive component for performance measures if the Legislature chooses to fund it. The model includes regional growth factors, inflation adjustments, a 2% risk corridor for Tier 2, a hold-harmless provision for agencies that would otherwise receive less than prior funding, and the ability for CBCs to retain some state general revenue savings. DCF said the model produced a total budget need of about $1.392 billion, roughly $28.6 million above the prior year after offsets, and that the department is also updating its child welfare case management system to improve data quality and future modeling. Members asked about whether prevention spending is captured, how Tier 3 incentives would work and how much they might cost, how the formula accounts for insurance, hurricanes, child acuity, and staffing costs, and whether CBC executives’ compensation is capped. DCF said prevention is included in the model but is not yet separately broken out due to data limitations, Tier 3 is optional and not yet costed, and the formula can incorporate additional growth factors if needed. On executive pay, DCF explained that compensation is limited by statute for CBC contracts, but multiple contracts and non-state funding sources can affect total compensation; staff later clarified that CBC CEOs with multiple contracts had been reviewed for compliance. The meeting ended after questions, and Representative Miller moved to adjourn; the subcommittee adjourned without any vote on the bill.

Transcript Highlights:

• an</c><01:15:07.440><c> exchange</c> in mutual funds, shares in an exchange in mutual funds, shares
• </c> there and does not include mutual funds. there and does not include mutual funds.
• </c> mutual fund that is is already excluded. mutual fund that is is already excluded.
• </c> the things in a mutual fund. the things in a mutual fund.
• </c><01:19:05.120><c> So</c> security excludes mutual funds. So security excludes mutual funds.

Committee: Senate Elections

Keywords: 1187, senate, all

Transcript Highlights:

• And we have a fund.
• Does state law allow us to put money into index funds and other things?
• Does state law allow us to put money into index funds and other things?
• Yeah, that was always a frustrating point for me because things like the S&P 500 and other index funds
• Because most sovereign wealth funds or endowment funds use the model of 3% to 4%.

Committee: House Special Committee on Tax Reform

Summary: The committee first heard House Bill 2923, which would give homeowners a temporary property tax exemption of up to four years on qualifying home improvements between $7,500 and $75,000, so long as the property is the owner’s homestead and the required intent and completion forms are filed. The sponsor said the bill is meant to encourage reinvestment in homes, including after catastrophic events, and said the fiscal note showed no impact. Members asked about the bill’s effect on assessors, taxing districts, school districts, the definition of homestead, and whether the state would reimburse lost revenue. Testimony in support argued the bill would reduce ambiguity in new-construction assessments, encourage repairs and improvements, and help homeowners avoid being penalized for fixing damaged homes. Concerns were raised about routine maintenance, the four-dwelling language, possible burdens on assessors, and whether the bill could affect senior tax freezes. The hearing on HB 2923 ended without a vote. The committee then went into executive session on House Bill 3256, adopted a committee substitute, and voted the substitute do pass by a roll call of five yes and one no. Discussion focused on criminal penalties in the bill, with the ranking member objecting to those provisions and noting that other states do not include them. The sponsor explained changes in the substitute, including broader retail-establishment language, explicit coverage of sports venues and concert halls, and removal of banks and credit unions from the bill. Members suggested further floor amendments and additional review of other states’ statutes. Finally, the committee heard Senate Joint Resolution 95, which would create the Show Me Prosperity Fund as a constitutional endowment intended to eventually replace all state-imposed taxes with investment earnings. The senator said the fund would be seeded by a one-time appropriation, managed by the treasurer, audited by the auditor, and protected from borrowing or diversion, with distributions capped at 3 percent. Supporters said the proposal would use compound growth to create long-term tax relief and eventually make Missouri the first state to eliminate state taxes; one witness called it straightforward and honest. Members questioned the size of the needed appropriation, how the fund would work if state income tax changes separately, whether state law allows the needed investments, and how the fund would avoid becoming unstable if distributions begin before it is large enough. No opposition testimony was offered, and the hearing concluded without action on SJR 95.

Transcript Highlights:

• </c> at the department are just the funding at the department are just the funding and<00:31:48.880><
• </c><00:32:13.279><c> that</c> the large amount of federal funding that the large amount of federal funding
• </c><00:34:47.440><c> um</c> of how important our federal funding um of how important our federal funding
• </c> the funding in hand to say start hiring. the funding in hand to say start hiring.
• Um, and and we did funding to enact.

Bills: HF3379

Committee: House Human Services Finance and Policy

Keywords: housing stabilization, disability services, predatory funding, provider requirements, housing accessibility, 1183, house