Transcript Highlights:

• release of funds with budget and finance release of funds with budget and finance and<00:49:05.000
• <01:07:06.559> with budget and finance with budget and finance with comments<01:07:08.839>
• used for any type of housing financing used for any type of housing financing including<01:27:54.239
• Our next bill is HB 529, relating to state finances. HB 529, relating to state finances.
• <01:34:17.480> other investment enabling it to finance other investment enabling it to finance

Keywords: 912, senate, all

Summary: The joint Housing and Public Safety/Water and Land hearing first took up HB 1096, which would repeal statutory tenant-selection preferences for disabled veterans and spouses of deceased veterans in state low-income housing. HPHA testified in support, saying the change was a housekeeping measure because the same preferences already exist in administrative rules and could be adjusted later to align with other local preferences, while also noting the federal VASH program provides stronger veteran housing support. Several members questioned why the preference should be removed at all, emphasizing that veterans have long been underserved and asking for a stronger justification; the committees ultimately deferred HB 1096. The later Housing/Hawaiian Affairs agenda heard HB 606 HD1, a measure to extend Act 279 funding and related exemptions for the Department of Hawaiian Home Lands. Supporters argued the bill would give DHHL more time to use the $600 million appropriation to acquire land, work with developers, and address a wait list of about 29,000 applicants, while also helping restore Hawaiian communities and reduce the Hawaiian diaspora. Opponents focused on accountability and oversight, saying DHHL needs clearer plans, measurable goals, and stronger safeguards before receiving more money, and warning that prior spending and strategic-plan changes had reduced the number of applicants served. The committee also heard testimony that the bill would help DHHL fulfill long-standing obligations to Native Hawaiians and that the housing need affects the broader state, not only Hawaiian Home Lands beneficiaries.

Transcript Highlights:

• Um, yes, we presented the bill in the Senate Finance Committee.
• committee of finance. committee of finance.
• the Senate bill um of the finance the Senate bill um of the finance committee<00:52:48.079> report
• The finance committee >> All oppose. No.
• The Finance Committee meeting at 2 o'clock today.

Keywords: 981, all

Summary: The Senate met with a quorum, approved the February 23, 2026 journal, and received several committee reports. Education recommended Senate Bill 67 be amended and sent to Appropriations, and Judiciary recommended Senate Bill 70 be amended and sent to Appropriations. The Education Committee also recommended confirmation of several Institute of Cannabis Research Governing Board appointments, and later the chamber confirmed a consent calendar of governor’s appointments, including members of the GOCO Trust Fund board, the Colorado Agriculture Development Authority, and the Wildlife Habitat Stamp Committee. On the floor, the Senate passed several bills. Senate Bill 85 and Senate Bill 25, both on the consent calendar, passed unanimously. Senate Bill 5, concerning state court remedies for violations of federal constitutional rights during immigration enforcement, passed on a 20-11 vote after a brief reconsideration mix-up and was then repassed. Senate Bill 18, concerning legal protections for a minor and sealing a related name-change record, passed 20-11. Senate Bill 31, concerning lawful use of a prescription drug product containing a Schedule I controlled substance, passed 29-2. The chamber then resolved into Committee of the Whole and took up Senate Bill 46, a property tax administration cleanup bill. After a Finance Committee report and adoption of amendment L003, the bill passed second reading and was ordered engrossed. The committee also laid over Senate Bills 53, 43, and 84 until February 25. Later, the Senate concurred with House amendments to Senate Bill 52, concerning coal transition communities and just transition money, and then repassed it. The Senate adopted the Committee of the Whole report and recessed until 11:00 a.m. after announcements and personal privilege remarks recognizing the Scientific and Cultural Facilities District and Musical Therapist Day.

Transcript Highlights:

• I will tell you a story, and I told it this morning in Senate Finance.
• Senate Bill 8, do pass, thence referred to the Finance Committee.
• Committee's committee, then Senate Judiciary Committee, then Senate Finance Committee.
• Senate Finance will go in probably about 1:30 o'clock. We are going to hear two bills.
• Senate Finance will go in, let's just say, at 2 o'clock today. We'll have two bills to hear.

Keywords: 996, all

Transcript Highlights:

• Day two of our New Mexico Finance Authority Oversight Committee is beginning.
• They're outside, but you know one thing I love about the New Mexico Finance Authority is they have a
• Of that, $7.6 million was authorized by the New Mexico Finance Authority for funding.
• It depends on the project and how they want to go about their financing.
• Mission Driven Finance, which is a debt company...

Transcript Highlights:

• and Civil Law and be re-referred to the Committee on Commerce, Finance, and Policy.
• Civil Law and be re-referred to the Committee on Commerce, Finance, and Policy.
• Judiciary, Finance, and Civil Law and be re-referred to the Committee on Commerce, Finance, and Policy
• and Policy and be re-referred to the Committee on Health, Finance, and Policy.
• . finance. finance.

Keywords: 1183, house

Transcript Highlights:

• It's the Energy Dominance Financing Office.
• So that's another option in the financing structure.
• And that's really challenging for anyone looking at doing traditional finance.
• And so we're starting to see these companies devise ways to self-finance some of this.
• And that's really challenging for anyone looking at doing traditional finance.

Summary: The Advanced Nuclear Energy Committee met to hear a series of presentations on the economics, financing, workforce, and community impacts of advanced nuclear deployment in North Dakota. William Bridge of Nucleon Energy presented the committee’s economic impacts and private-sector financing report, estimating construction and operating job impacts, local spending, and state/local tax effects for hypothetical SMR projects. He said the report assumes first-of-a-kind costs are still high, used a $6 million per megawatt nth-of-a-kind proxy, and estimated peak construction workforces of about 500 for a 200-MW plant and 1,000 for a larger facility, with roughly 100 operating jobs for a 200-MW plant. Committee members questioned security costs, capital cost assumptions, water and transmission siting constraints, and whether the model included fuel and waste; Bridge said the report included initial fuel in capital cost and that waste disposal is funded through existing federal mechanisms. Lori Brady of the Nuclear Energy Institute then outlined national nuclear workforce needs and NEI’s strategic workforce planning efforts. She described declining labor-force participation, retirements, and the need for a much larger future workforce, and said NEI has organized recommendations around career awareness, pipelines, training and qualification, policy support, retention, and nontraditional recruitment. She highlighted tools such as the Nuclear Works career website, the Nuclear Energy Academic Roadmap, the new federal Energy and Natural Resources career cluster, and the Nuclear Uniform Curriculum Program for community colleges. Members asked about AI, timing for training relative to plant development, and whether advanced manufacturing would reduce staffing needs; Brady said AI is not expected to replace workers and that training timelines depend on the specific project and staffing plan. The committee also heard from Gary Yaco, mayor of Red Wing, Minnesota, who described Prairie Island’s role in his community. He said the plant provides a large share of local property tax revenue, supports well-paid jobs, contributes to emergency preparedness funding and training, and is broadly supported by the city despite periodic protests and public concerns. He emphasized the plant’s security, regular drills with local and federal responders, and the absence of problems with dry cask storage. Later, Benton Arnett of NEI discussed the current financing landscape for advanced nuclear, explaining how tax credits, federal loan support, off-take agreements, and new business models are helping projects move forward. He said early projects face high upfront costs and long lead-time procurement, but that investor confidence is improving as federal policy and regulatory streamlining continue. The committee asked about waste funding, comparisons with natural gas, the effect of political shifts on investor confidence, and whether the market will narrow to a few winning technologies; Arnett said the industry is still sorting that out, but expects clearer winners in the late 2020s and early 2030s. The meeting concluded with an introductory presentation from Julie Kazeraki of DOE’s Office of Energy Dominance Financing, who said the office is focused on accelerating nuclear deployment through financing support.

Transcript Highlights:

• We are going to start the Finance Committee report over.
• President, your Finance Committee, to whom has been referred... Mr.
• We've heard a different finance plan than what we heard a few days ago.
• Senate Finance will meet Monday morning at 9:00 a.m. in Room 22.
• This week in Senate Finance, we're going to start hearing budgets.

Keywords: 996, all

Transcript Highlights:

• creativity especially in the financing creativity especially in the financing of<00:23:41.600>
• traditional Capital stack for financing traditional Capital stack for financing a<00:23:58.720><
• and therefore makes the early financing and therefore makes the early financing more<00:24:07.120
• <00:51:41.880> committee's support the finance committee's support the finance committee's
• This bill is going to Finance.

Keywords: 1191, senate, all

Transcript Highlights:

• The board cannot just continue approving financings to infinity.
• That's just because they withdrew their applications before the board approved the financing.
• The board has not met since 2022, I believe, and therefore doesn't have any additional financing that
• No, in all seriousness, what's the time frame for the financing that these schools have?
• Most of those financings mature around the year 2050.

Keywords: 1182, all

Summary: The Senate Education Committee of Reference met for sunset reviews and first heard a presentation on the Credit Enhancement Eligibility Board from the Governor’s Office. The presenter explained that the board, created in 2016, has no dedicated staff or administrative budget and is supported by existing budget and policy staff and the Treasurer’s Office. The board’s purpose is to lower borrowing costs for qualifying schools by using a guarantee fund to enhance credit ratings, and it has largely been used by charter schools. Because the board has reached its statutory leverage cap and has not met since 2022, it is currently in a monitoring role, but it must remain in place to honor guarantees if any approved financing defaults. The committee asked about financing maturities, demand from schools, and whether a shorter continuation period would make sense. No public testimony was offered, and the committee voted to recommend continuing the board for 10 years, until July 1, 2036. The committee then reviewed the Western Interstate Commission for Higher Education (WICHE). WICHE’s president described the interstate compact, its regional role in higher education access, workforce development, and data services, and its major student programs: the Western Undergraduate Exchange, the Western Regional Graduate Program, and the Professional Student Exchange Program. She highlighted tuition savings for Arizona students and the state, the return of many PSEP graduates to practice in Arizona, and additional cost savings through cooperative purchasing and technology contracts. The committee asked no substantive questions, and it voted to recommend continuing WICHE for 10 years, until July 1, 2036. The final major item was the Arizona Department of Education School Safety Program performance audit, followed by testimony from the department. The Auditor General reported that the program has grown substantially, especially after expansion to counselors and social workers and increased appropriations, but that ADE did not consistently ensure schools complied with program requirements. In a sample of 16 schools, most had issues such as missing or incomplete operational plans, inadequate safety team activity, incomplete required training, missing activity logs, or reimbursement requests lacking expenditure reports. The audit said these problems reduced the program’s effectiveness and increased the risk of improper spending, and it recommended stronger monitoring, written procedures, and better documentation review. ADE accepted the findings and said it is implementing the recommendations through more direct staff oversight, training requirements tied to funding, encrypted submission of emergency plans, site visits, and representative desk reviews. The discussion then shifted to whether emergency plans should address federal law enforcement actions; the director said the plans are designed for campus safety threats generally and do not specifically contemplate ICE enforcement. The committee took no vote on the audit presentation and adjourned after discussion.

Transcript Highlights:

• All right, we'll move on to STR 6D1, urging the Hawaii Housing Finance and Development Corporation to
• <00:02:45.680> and urging the Hawaii Housing Finance and urging the Hawaii Housing Finance
• The next measure, STR 6D1, urging the Hawaii Housing Finance and Development Corporation to develop a
• <00:11:16.880> and urging the Hawaii Housing Finance and urging the Hawaii Housing Finance
• market namely rental units financed market namely rental units financed using<00:11:41.920> low

Keywords: 910, house, all

Summary: The Committee on Housing heard two resolutions. STR 48 SD 1 called for a comprehensive strategy to adopt updated building codes, with testimony listed from several groups but no one appeared to testify. The committee later deferred the measure, noting it was very similar to House Concurrent Resolution 67 House Draft 1. The committee then took up STR 6D1, which urges the Hawaii Housing Finance and Development Corporation to develop a plan to produce enough housing to meet state demand. HHFDC testified that the resolution misstated the scope of low-income housing tax credit units and emphasized that the state’s housing need is much larger than previously cited, with a recent study showing about 33,000 units needed for households at or below 60% AMI statewide. HHFDC supported planning but said any plan must be realistic and account for private land constraints. A member raised concerns about rising leasehold costs and affordability for homeowners, and HHFDC responded that rental affordability can be maintained more readily than for-sale housing. The committee adopted HHFDC’s proposed amendments to STR 6D1, including deleting a clause about overbuilding, revising the shortage figures, and adding language referencing Senate Bill 26 and the affordable housing land inventory task force. The committee also amended the resolution to focus on density and timing of development for projects identified by that task force. The measure passed with amendments, and the meeting adjourned.

Transcript Highlights:

• That's a terrible thing to bear, I think, along with the loss of your finances.
• I'm here on behalf of the American Legal Finance Association, or ALFA.
• I'm here on behalf of the American Legal Finance Association, or Alpha.
• The highest percentage was personal finance, above everything else.
• Mandating financing as an area of discovery invites, frankly, a one-sided fishing expedition.

Keywords: 995, all

Summary: The committee heard testimony on several financial services bills, with the main focus on cryptocurrency kiosk regulation, financial literacy, and earned wage access. Legislators and witnesses described widespread crypto-related scams targeting older adults, often involving impersonation, urgency, spoofed phone numbers, and rapid transfers through kiosks that are difficult to trace or recover. Supporters of the kiosk bills said Massachusetts needs licensing, registration, transaction limits, warning notices, receipts, refund protections, and other safeguards; some also urged a “pause” or hold on transactions to give victims time to reconsider and allow law enforcement to intervene. The Attorney General’s office, AARP, local law enforcement, and several prosecutors and sheriffs backed the consumer-protection approach, while Bitcoin Depot supported a narrower regulatory framework but opposed low fee caps and strict daily limits, arguing they would function like a ban and reduce legitimate use. Witnesses from Waltham police, Middlesex and Essex County law enforcement, and the AG’s office said crypto scams are growing quickly, losses are often unrecoverable once funds move, and current tools are limited. They described cases involving elderly victims losing thousands of dollars, and said warnings alone are not enough because scammers keep victims on the phone and guide them through the process. Some witnesses said a temporary hold or refund mechanism has worked in at least one case, while others emphasized that transaction limits and visible disclosures could reduce harm even if they do not stop fraud entirely. The AG’s office also said it would submit written opposition to separate earned wage advance legislation, while DailyPay testified in support of that bill, saying earned wage access helps workers bridge short-term gaps without debt or credit reporting. The committee also heard support for mandatory financial literacy education from Representative Jim Hawkins, who said high school students need instruction on credit, debt, and inflation before they enter adulthood. In addition, the committee took testimony on litigation financing bills from insurance industry representatives, who argued for disclosure and regulation of predatory litigation lending and warned about foreign interference and reduced plaintiff recoveries. No votes or final actions were taken during the hearing; members asked questions throughout, and the chair noted the need to move testimony along because of time constraints.

Transcript Highlights:

• I mean, the private sector financing, there are two ways to pay them back.
• P3 financing.
• So any incremental financing means that the property tax added is all part of a financing, which takes
• The authority acknowledges that to stay on schedule, it needs financing.
• I understand the concerns about tax increment financing.

Summary: The Senate Transportation Committee held an informational hearing on the California High-Speed Rail Authority’s 2026 draft business plan, with testimony from the authority, the Legislative Analyst’s Office, and the High-Speed Rail Inspector General. Chair Cortese framed the hearing around the project’s recent changes: a new CEO, revised delivery strategy, loss of federal funds, renewed interest in private financing and value capture, and proposed adjustments to the Merced-to-Bakersfield segment. He also raised concerns about statutory compliance, transparency, and whether the draft plan fully reflects required elements and true costs and timelines. Authority CEO Ian Chaudhry said the project has made substantial construction progress in the Central Valley and is moving toward track installation, with the state’s $1 billion annual cap-and-invest funding providing a stable base. He argued the plan uses design optimization, direct procurement of materials, and revised sequencing to reduce costs and support an early operating segment by about 2032-33. He also promoted broader commercialization of the corridor through real estate, energy, broadband, logistics, and public-private partnerships, saying private sector interest is now real. Several senators pressed him on station locations, tax increment financing, utility relocation authority, permitting delays, transparency, and whether the project can realistically reach Los Angeles and San Francisco on the current timeline and budget. The LAO and Inspector General were more skeptical. LAO analyst Helen Kirstine said the draft plan assumes major scope changes, including a shorter segment, a Merced station outside downtown, more single-tracking, and several statutory changes that have not yet been enacted. She warned that the plan may not comply with recent legislative requirements, that funding may still be insufficient even for the reduced segment, and that borrowing against future cap-and-invest revenues is risky because those revenues are uncertain and volatile. Inspector General Ben Belknap said the draft plan fails to comply with newer statutory requirements, especially regarding the Merced-to-Bakersfield scope, the funding plan, and missing procurement milestone dates. He said the presentation obscures cost increases and schedule delays and limits the Legislature’s ability to compare current estimates with prior reports. Committee members generally supported continued oversight and some form of project delivery reform, but several expressed concern that the plan relies on legislative changes that have not been approved and on private financing that may not materialize. Chaudhry said the authority would address the Inspector General’s findings in the final business plan and continue to pursue federal grants, private capital, and corridor commercialization. No vote was taken at the hearing.

Transcript Highlights:

• Zana will fix it in finance. We have somebody on finance. Isn't that great?
• correct by finance.
• If not by finance correct by finance.
• to finance. Mr. Chair, I got shaken. to finance. Mr. Chair, I got shaken.
• So, before it gets to finance. So, Yes. So, before it gets to finance.

Keywords: 1187, senate, all

Transcript Highlights:

• There are quite often times where a purchaser, when they are going to finance a vehicle at a dealership
• , will ask the dealership about the possibility of financing their sales tax as a part of the financing
• Normally what happens is if a customer decides they want to finance it into their contract or they want
• There will be a check in there that is made out to the Department of Finance and Administration to pay
• And then if there's financing in place for that vehicle, they would have a financing or a lien interest

Summary: The committee met to approve special expenses and then considered two interim study proposals. ISP 2025-069, by Representative Perry and presented by Representative Eaton, would move vehicle sales tax collection from the current registration-based process to the point of sale. Members asked about the current 60-day registration period, the fiscal and administrative impact on DFA, the burden on dealerships, verification and audit issues, and whether the change could affect tax collection or vehicle pricing. DFA said it was neutral on the proposal, noted programming and process changes would be needed, and said the total tax collected would not change, though timing would. The committee approved the ISP and sent it on for research. The committee then took up ISP 2025-071, based on House Bill 1636 from the 2025 session, which would phase out the state soda excise tax over five years if Medicaid trust fund revenue triggers are met. Representative Ray said the bill was intended to continue discussion after the underlying bill failed on the House floor. Members asked about the tax’s annual revenue, its dedication to the Medicaid Trust Fund, and whether the revenue would be replaced. Ray estimated the tax brings in roughly $40 million to $50 million annually and said the proposal did not replace that revenue. DFA was asked to explain how withdrawals from the trust fund are authorized and whether the legislature has oversight, and said it would provide that information later. The committee then adopted the interim study proposal.

Transcript Highlights:

• There are quite often times where a purchaser, when they are going to finance a vehicle at a dealership
• , will ask the dealership about the possibility of financing their sales tax as part of the financing
• There will be a check in there that is made out to the Department of Finance and Administration to pay
• The purchaser would be the owner of the car, and then if there's financing in place for that vehicle,
• they would have a financing or a lien interest in the motor vehicle.

Keywords: 1204, all

Summary: The committee first approved special expenses incurred by the committee, then took up interim study proposals. The first, ISP 2025-069 by Representative Perry, would move collection of sales tax on motor vehicles from the current registration-based process to the point of sale at dealerships. Representative Eaton presented the proposal, and members questioned DFA about fiscal impact, dealer implementation costs, verification and audit issues, and whether the change would shift burdens to dealers or consumers. DFA said the overall tax amount would not change, but system programming and timing changes would be needed, and dealers would likely face process changes and possibly added costs. Despite concerns from some members and references to opposition from auto dealers, the committee voted to send the proposal to research and passed the ISP. The committee then considered ISP 2025-071, based on House Bill 1636 from the 2025 session, which would phase out Arkansas’s soda excise tax over five years if revenue triggers in the Medicaid Trust Fund were met. Representative Ray explained that the bill had passed committee but failed on the House floor in the prior session, and members discussed the tax’s annual revenue, its dedication to the Medicaid Trust Fund, and whether the proposal would replace lost revenue. Questions were also raised about who controls distributions from the trust fund and whether the legislature has oversight. DFA said it would follow up with DHS on the mechanics and provide additional information. The committee then voted to adopt the interim study proposal, and the meeting adjourned.

Transcript Highlights:

• by Eckhardt, relating to the repeal of the temporary tax reduction for certain high-cost gas, to Finance
• by Hughes, relating to sales and use tax exemptions and refunds for certain tangible property, to Finance
• taxable entities that purchased certain theft deterrent and property loss prevention equipment, to Finance
• Senate Bill 1250 by Hinojosa of Hidalgo, relating to the definition of a project financing backup system
• Senate Bill 1261 by Perry, relating to the financing of water supply projects included in the state water

Summary: The Senate met briefly to receive first-reading referrals of a large number of bills, resolutions, and joint resolutions. The measures covered a wide range of topics, including public education, health care, criminal justice, business regulation, transportation, water and natural resources, local government, taxation, elections, and public information. Many of the filings were by Senators Hughes, Perry, Alvarado, Creighton, Hancock, Parker, Zaffirini, Blanco, and others, and included proposals on school safety, health records and billing, election procedures, water planning, housing and rent issues, energy and environmental regulation, and criminal penalties. The chamber also read several concurrent and joint resolutions, including measures designating state symbols and local honors, a proposed constitutional amendment related to gaming by the Kickapoo Traditional Tribe of Texas, a proposal concerning special-session subjects, and resolutions on fiscal restraints and retirement obligations. No debate, testimony, or substantive action on the merits of the measures occurred in this portion of the transcript; the items were simply read and referred to committees. At the close of the proceedings, the Senate adjourned pursuant to a previously adopted motion and announced it would reconvene at 11 a.m. Tuesday, March 4.

Transcript Highlights:

• Department of Finance.
• So, as far as finance perspective, As far as finance perspective on the settle-up funds for next year
• So as far as finance perspective, in the next panel.
• Department of Finance, please. Alex Schope, Department of Finance.
• Alex Shope, Department of Finance.

Summary: The Assembly Budget Subcommittee on Education Finance held its first hearing of the year on Proposition 98, focusing on the Governor’s budget estimates for the three-year budget window, the Public School System Stabilization Account (PSSA), and repayment of education deferrals. The Department of Finance said the minimum guarantee would rise by about $21.7 billion over the 2025 Budget Act, with increases in each year, full repayment of the existing settle-up obligation in 2024-25, a new $5.6 billion settle-up obligation proposed for 2025-26, and a higher guarantee in 2026-27. Finance also noted revised downward estimates for transitional kindergarten attendance and Los Angeles County property tax reimbursements, and said community colleges would be funded above the split because of enrollment growth. The Legislative Analyst’s Office emphasized fiscal risk and volatility, warning that recent revenue gains are tied heavily to the stock market and tech sector and could reverse quickly. The LAO argued the Governor’s proposed $5.6 billion delay shifts risk into future years and recommended instead fully funding the current estimate, making a larger reserve deposit, considering advance payments or pension-related uses, and finding additional non-Prop 98 solutions to reduce the state’s structural deficit. On the reserve and deferral items, Finance described revised PSSA deposits and withdrawals that would leave about $4.1 billion in the reserve by 2026-27, and both Finance and the LAO supported paying off the remaining LCFF and SCFF deferrals as good fiscal practice. Committee members questioned the size of the settle-up amount, the degree of revenue volatility, the use of the reserve, and the ongoing K-12/community college split. Finance said the proposal is meant to avoid overappropriation if revenues fall, while the LAO said a buffer of roughly $3.5 billion would address typical forecasting risk. Public commenters, including school boards, county offices of education, teachers, and advocacy groups, largely opposed the $5.6 billion withholding or settle-up delay, calling it a manipulation of Prop. 98 and urging full funding and more stable revenue solutions. Several speakers also urged dedicated funding for students experiencing homelessness. The hearing ended with no vote, and the chair announced that broader program discussions would occur in later hearings.

Transcript Highlights:

• Melody Jimenez with the Department of Finance.
• Elena Powell, Department of Finance.
• Lena Powell, Department of Finance.
• Hi, Liz Mai with the Department of Finance.
• Liz Mai with the Department of Finance.

Summary: The Senate Budget Subcommittee on Education heard the Governor’s proposals on dual enrollment, reading difficulty screeners, special education, school facilities, and Commission on Teacher Credentialing programs. On dual enrollment, the Department of Finance described a $100 million one-time Proposition 98 investment to expand the Dual Enrollment Opportunities Grant Program, along with changes to make regional occupational centers eligible, add funding for justice-involved youth, prioritize higher-need LEAs, support teacher professional development, and reduce daily instructional minute requirements for some dual enrollment students. The LAO recommended rejecting the new funding as not clearly addressing implementation barriers, while CDE supported the proposal and suggested reserving $10 million for technical assistance. Committee members and public commenters generally supported the expansion, with some asking for technical assistance and broader access, including adult dual enrollment. The committee also reviewed a $40 million one-time Proposition 98 proposal for reading difficulty screener implementation and related trailer bill language that would require screening after 91 school days for kindergarten and 46 school days for grades 1-2. Finance said the timing was intended to reduce over-identification and align with evidence from preliminary data; the LAO recommended rejecting the funding and redirecting it to a discretionary block grant. CDE supported the funding and the general approach but acknowledged the need for local support and training. Several committee members and public witnesses raised concerns that the proposed timing restrictions were too rigid and could delay early intervention, while others supported the delay as a way to improve accuracy and avoid misidentification. For special education, Finance proposed ongoing Proposition 98 increases to adjust for COLA and enrollment changes and to raise the statewide special education base rate to $99 per ADA, equalizing rates across SELPAs. The LAO said the proposal should be adopted but estimated it could be funded for less than the Governor’s figure. CDE and multiple local education representatives strongly supported the increase, citing rising special education enrollment, cost pressures, and large local funding gaps. The committee also heard a brief overview of the school facilities proposal, which continues $1.5 billion in Proposition 2 bond funding for the School Facility Program; OPSC reported significant remaining bond authority but also substantial pending demand, and explained that natural disaster school rebuilding draws from the broader new construction and modernization pools. Finally, the committee reviewed Commission on Teacher Credentialing proposals, including the already-funded $300 million Student Teacher Stipend Program, new state operations resources for misconduct investigations and grant administration, and a $250 million one-time continuation of the Teacher Residency Grant Program. CTC said its grants management system is ready and that it expects better data tracking; public testimony broadly supported the educator workforce investments and urged continued funding for the Golden State Teacher Grant Program and additional support for rural and leadership pipeline programs. No votes were taken, and the hearing adjourned after public testimony.

Transcript Highlights:

• Welcome to the New Mexico Finance Authority. Thank you to the town of Socorro, New Mexico.
• I'm Ruby Lopez, I'm the Finance Director, and I do work with NMFA.
• New Mexico Finance Authority. The Finance Authority is the state's grantee.
• I wanted to start out and compliment the Finance Authority staff in Santa Fe.
• It's nice to have the Finance Authority there to help us out.

Transcript Highlights:

• Chair, today, um, before you, the Senate Finance Committee amendment for House Appropriation and Finance
• And lastly, the Senate Finance amendment also focuses on public safety.
• So you have before you the committee report with the Senate Finance amendment.
• Chairman, members of the Senate Finance Committee.
• We all work like a well-oiled machine and that's what Senate Finance should look like.