Video & Transcript : 'surplus requirements' :
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NH
New Hampshire 2025 Regular Session
House Finance Division II (02/03/2025)
Transcript Highlights:
- </c> ended up with 129 million in Surplus ended up with 129 million in Surplus education<01:01:09.760
- <01:14:56.040><c> under</c> required under required under Esa<01:14:58.159><c> Rural</c><01:14:58.520
- </c> done with that so and it does require done with that so and it does require the<01:18:27.400><c>
- They were actually required to apply for it in state law, but there was no requirement in federal law
- There’s certain requirements that they’re required to do because they’re a nonprofit to the charitable
Summary:
The Department of Education’s Bureau of School Finance provided an adequacy-funding training for Division II, led by Mark Mello. He walked the committee through the adequacy formula using Albany, Allenstown, and Alton as examples, explaining average daily membership, base adequacy aid, and differential aid for free/reduced-price meals, special education, and English language learners. He also noted a recent change requiring home-education differential aid and emphasized that these aid streams are generally unrestricted district funding rather than money tied to specific students or programs.
A major focus was the ongoing litigation over the adequacy base amount and the statewide education property tax, or SWEPT. Mello explained the historical basis of the current base amount, the 2008 legislative report that set the original methodology, and the later court ruling that the adequacy amount should be $7,356, which is now before the Supreme Court. He also described how SWEPT currently raises a fixed statewide amount of $363 million and how that revenue is used to offset the state’s adequacy obligation. For the example towns, Albany and Allenstown receive state adequacy grants because their SWEPT revenue is below their calculated adequacy cost, while Alton is an excess SWEPT community because its local SWEPT revenue exceeds the cost of adequate education.
The discussion then turned to the pending “excess SWEPT” issue in the Supreme Court and what would happen if excess collections had to be remitted to the state. Mello said the Department is preparing a hypothetical walkthrough and explained that, if the court upholds the Superior Court ruling, DRA would likely be directed to collect excess SWEPT. Members raised concerns about whether SWEPT must be used for educational purposes and about the cash-flow burden on towns if money had to move from municipalities to the state and then back to districts. Mello and members discussed possible administrative workarounds, such as credits against other state aid distributions, and noted that the committee would continue reviewing the mechanics if the court decision comes down during budget work.
FL
Florida 2025 Regular Session
Rules Apr 16th, 2025
Transcript Highlights:
- AND NEEDS SPECIFIC TO THOSE WITH SPECIAL REQUIREMENTS AND SPECIAL NEEDS.
- WE REMOVED THE GEOGRAPHIC AREA REQUIREMENTS AND REMOVE THE REQUIREMENT A HOME HEALTH AGENCY USE A DIRECT
- BUT THE AMENDMENT, SO CURRENTLY THE AMENDMENT REQUIRES SOME CONTINUING EDUCATION REQUIREMENTS FOR ROOFERS
- THIS BILL REQUIRES ONE OPERATIONAL AED IN ADDITION TO THE REQUIREMENTS OF FLORIDA STATUTE 1006.165 WHICH
- THEY ARE NOT REQUIRED TO HAVE TO PLAY, THEY ARE REQUIRED TO BE ELIGIBLE TO PARTICIPATE. >> FOLLOW-UP
CA
California 2025-2026 Regular Session
Senate Environmental Quality Committee Apr 15th, 2026
Transcript Highlights:
- There's also a requirement of a plan to mitigate the construction impacts and also a requirement for
- many affordable housing units than are required by the Surplus Land Act.
- That framework says when a permit is required, which triggers CEQA, and when a permit isn't required,
- That framework says when a permit is required, which triggers CEQA, when a permit isn't required, which
- And CEQA is unique in that it requires mitigation and it requires public And CEQA is unique in that it
Summary:
The committee heard SB 1375 by Senator Cortese, which would streamline environmental review for certain transit and rail projects that have already undergone extensive prior review. Supporters, including VTA, San Jose transportation staff, BART, Caltrain, MTC, and Climate Reality Silicon Valley, said the bill would reduce duplicative analysis, save time and money, and help advance projects like the Diridon Station modernization in San Jose. Committee members emphasized the bill’s narrow scope and the added amendments requiring displacement planning, legal services for displaced residents, construction-impact mitigation, and natural resources planning. The bill was approved on a 5-0 vote and sent to Transportation as amended.
The committee also took up SB 1031 on compostable plastics labeling and waste-stream impacts. The author and supporters such as Californians Against Waste argued the bill would reduce greenwashing, clarify labeling, cut contamination in compost and recycling streams, and direct OEHHA to study health and environmental effects. Opposition from manufacturers, BPI, retailers, and others focused on concerns that the bill would effectively ban compostable products in California, create costs, and fail to fix a separate federal/NOP labeling problem. After extensive discussion about composting capacity, labeling clarity, and costs, the bill passed 3-2 to Appropriations.
SB 958 by Senator Weber Pierson addressed the Midway Rising redevelopment project in San Diego. The bill, as amended, would no longer create a full CEQA exemption but instead clarify CEQA treatment of building-height impacts in the project’s future EIR. Supporters said the project would deliver thousands of housing units, including affordable housing, along with parks, a new arena, and economic benefits on underused city land. The committee voiced support for the project’s housing and revitalization goals, and the bill passed 3-0 to Local Government as amended. The committee also heard SB 1075 on strengthening AB 617 community air protection plans, with environmental justice supporters backing stronger enforcement and local implementation while local governments, business groups, and air district representatives warned it could create uncertainty, raise costs, and function as a land-use mandate; the bill was held on a 2-2 vote after the author accepted several amendments and continued negotiations.
WA
Transcript Highlights:
- It specifies requirements for land acquisitions and dispositions, including requiring at least 50% of
- It requires land bank authorities to publish annual reports.
- Yes, the current requirements—that’s a... Yes. Is that?
- We also love that the affordability requirements in SB 6214 match with existing affordability requirements
- First, it specifies that the requirement on brokers to market to the general public does not require
Committee:
Senate Housing
Keywords:
rental payments, landlords, tenants, eviction, legal procedures, housing stability, land banking, property authority, housing development, urban planning, real estate management, SB 6237, Washington landlord-tenant law, Residential Landlord-Tenant Act, rental property disclosure, flood risk, flood hazard area, special flood hazard area, potential flooding, tenant notice
WA
Washington 2025-2026 Regular Session
Senate Housing Jan 30th, 2026
Transcript Highlights:
- It specifies requirements for land acquisitions and dispositions, including requiring at least 50% of
- It requires land bank authorities to publish annual reports.
- Solving our state's housing crisis requires a spectrum of tools.
- We also love that the affordability requirements in SB 6214 match the existing affordability requirements
- First, it specifies that the requirement on brokers to market to the general public does not require
Summary:
The Senate Housing Committee held public hearings on three bills. SB 6237 would require landlords to disclose flooding history and flood risk to new tenants, along with notices that renters’ insurance and flood insurance may be needed and that county or local government sources have hazard information. The sponsor said the bill was a simple disclosure modeled on other states’ laws after recent flooding in Washington. Testimony was generally supportive, with an environmental nonprofit urging a broader jurisdiction-based disclosure instead of only county government, and housing industry groups saying they were neutral or concerned about added lease disclosures and asking for clearer language about what flooding information must be disclosed. No vote was taken on the bill.
The committee then heard SB 6214, which would authorize public corporations, housing authorities, and certain nonprofits to operate as land bank authorities for affordable housing, with requirements for affordability covenants, annual reports, priority access to tax-foreclosed properties, and tax exemptions for qualifying land bank property and transfers. Supporters from Spokane, counties, housing authorities, affordable housing groups, and developers said land banking would help lower land costs, speed development, and expand affordable housing production. One member of the public opposed the bill, arguing it could remove land from the market and affect rural land supply. Department of Revenue staff flagged a technical issue, saying the bill needs a clearer definition of a qualifying land bank authority so the exemption can be administered, and confirmed the proposal would shift property off the tax rolls. The committee also asked whether the bill would allow non-housing uses such as parks or green space; staff said the bill requires affordable housing use, though the other half of land bank activity is not specified.
The committee also heard SB 6139, which would require landlords to keep accepting previously used payment methods and continue to accept partial rent payments during an unlawful detainer process, while making clear that partial payments do not reinstate a lease or stop an eviction unless the parties agree in writing. The sponsor said the bill was intended to address cases where tenants can make partial payments but landlords shut off payment portals and refuse them, forcing judges to issue case-by-case standstill orders. Tenant advocates opposed the bill, arguing it would encourage evictions, remove judicial discretion, and could trap tenants by inviting partial payments that do not protect their housing. Landlord and property management groups were concerned about requiring continued access to payment portals and about ambiguity over whether accepting partial payments would waive eviction rights, though they said the bill was a good starting point and suggested clearer receipts and statutory protections. The public hearing was closed without action on SB 6139. In executive session, the committee adopted a proposed substitute for SB 6091, which limits broker marketing restrictions without requiring open access to homes and removes a Washington Law Against Discrimination provision, then voted the bill do pass to Rules. The committee also voted to recommend confirmation of gubernatorial appointments 9278, Pedro Espinoza, and 9279, Diana H. Perez, to the Housing Finance Commission.
NM
New Mexico 2025 Regular Session
IC - Legislative Finance May 14th, 2025
Transcript Highlights:
- So the planning document requirement, again, very rigorous, upfront.
- We require readiness to proceed.
- You're first in line, first priority for our overt surplus funds.
- When we get ready to, when we put it in and we start to surplus that.
- The funding for FY 26, this upcoming year, we expect another surplus.
MN
Minnesota 2025-2026 Regular Session
Special Session - Senate Floor Session - Part 2 - 06/09/25
Minnesota Senate Floor Meeting
TX
Transcript Highlights:
- To the required provision of certain governmental entity contracts regarding the carrying of handguns
- HB 1740 by Tupper relating to requiring a search warrant for certain health fire code inspections for
- HB 1793 by TEPA relating to the eligibility requirement to receive a grant from the Texas Enterprise
- HB 1923 by Riddell relating to removing the requirement of an applicant or for of a holder.
- HB 2256 by Goodwin relates to the financial security requirement for.
FL
Florida 2026 Regular Session
Environment and Natural Resources Nov 4th, 2025
Environment and Natural Resources
Transcript Highlights:
- Are they statutorily required to go to one first and then the other?
- Are they statutorily required to go to one first and then the other?
- That's a requirement of their permit.
- To answer your question, they are going to be required to do that.
- So they are not required to test.
Committee:
Senate Environment and Natural Resources
Summary:
The committee first received a Department of Environmental Protection presentation on Florida Forever and the sale or exchange of conservation lands. DEP described Florida Forever as the state’s main conservation land acquisition program, funded in recent years at high levels, and said most acquisitions since 2019 have been within the Florida Wildlife Corridor. The presentation also explained the legal process for disposing of conservation lands: requests are reviewed by the Acquisitions and Restoration Council, then the governor and cabinet decide whether land is no longer needed for conservation or whether an exchange provides a net conservation benefit. Senator Smith asked several questions about recent land-swap proposals, public notice, political influence, and whether any transactions had bypassed the usual sequence; DEP said applications can be withdrawn before ARC review, notice is posted seven days in advance, and the council and cabinet are the decision-makers. Senator Harrington asked about the difference between Florida Forever land sales and water management district surplus lands, and DEP said the reported 2.3 acres sold referred only to Florida Forever-funded projects.
The committee then heard presentations from the Department of Health and DEP on PFAS and PFOA. DOH outlined what PFAS are, their common uses, possible health impacts, and ways Floridians can reduce exposure, including water filtration and avoiding certain products. DOH said it conducts well investigations, health consultations, fish consumption advisories, and monitoring in coordination with DEP and FWC. DEP followed with a more technical overview of PFAS regulation and cleanup, explaining federal testing and drinking-water standards, Florida’s provisional cleanup levels, and the state’s response at contaminated sites, including bottled water and filtration for affected residents. Senators asked about testing requirements for public systems and private wells, disposal of used filters, and how federal rulemaking and litigation could affect Florida’s standards; DEP said public systems are required to test under EPA monitoring rules, private wells are not directly required to test, and Florida may adopt its own standards if federal action does not occur by the statutory deadline.
Finally, the committee took up SB 150, which would designate the flamingo as the state bird and the scrub jay as the state songbird. The sponsor argued the bill better reflects Florida’s identity and conservation values, noting the flamingo’s iconic status and the scrub jay’s status as a Florida-only species. Members asked lighthearted questions about mockingbirds, flamingo color, and feeding costs, and an appearance card was filed in support by the Association of Zoos and Aquariums. The committee debated the bill briefly and then passed SB 150 favorably by roll call vote, with all members present voting yes except Senator DiCeglie, who was excused.
LA
Louisiana 2026 Regular Session
Transportation, Highways and Public Works Mar 30th, 2026
Transcript Highlights:
- The substitute bill is relative to inspection sticker requirements to repeal the inspection requirement
- buy a vehicle to now be required to be on the rear bumper.
- vehicle to now be required to be on the rear bumper.
- Some are saying, no, the law requires us to do wet signatures.
- Some are saying, no, the law requires us to do wet signatures.
Summary:
The committee met on March 30 and first took up House Resolution 1, which approves the Coastal Protection and Restoration Authority’s annual State Integrated Coastal Protection Plan for fiscal years 2026-2027. CPRA leaders described the plan as a roughly $1.54 billion coastal investment, with most funds directed to construction and project implementation. They outlined funding sources including GOMESA, BP settlement dollars, state surplus, and new coastal sediment revenues, and reviewed major work across the coast such as marsh creation, barrier island restoration, levees, pump stations, shoreline protection, and nonstructural flood mitigation. Members asked about specific regional concerns, including the Sabine River area, the Chafalaya Basin, Bayou Sorrel, and tidal flooding in inland parishes. The committee heard public support cards and then reported H.R. 1 favorably without objection.
The committee then considered House Bill 838, as substituted, dealing with vehicle inspection stickers and related inspection requirements. The bill would repeal inspection requirements for assembled vehicles, adjust inspection rules for commercial and student transportation vehicles, allow out-of-state inspections in some cases, and move toward a QR-code-based system tied to the vehicle identification number. OMV officials said the QR code would contain only the VIN and would be used by law enforcement through existing or upgraded ticketing systems, with the change taking effect January 1, 2027. Members asked about privacy, local law enforcement compatibility, unsafe vehicles, and the annual fee structure. The committee adopted the substitute and reported the bill favorably via substitute.
Next, the committee heard House Bill 888, also with amendments, on temporary dealer plates and temporary registration plates. Supporters said the bill cleans up last session’s temporary tag law, increases security features for print-on-demand plates, clarifies placement rules for dealer tags, extends certain temporary tag periods from five to ten days, and delays fee changes until the electronic issuance system is implemented. A question was raised about whether the new plates would be readable by license plate recognition cameras, and the sponsor said that would be checked with State Police. The committee adopted the amendment set and reported the bill favorably as amended.
The committee also advanced House Bill 885, which authorizes electronic titles, electronic lien recordation, and electronic signatures for motor vehicle transactions. The sponsor and industry witnesses said the bill is intended to modernize vehicle sales, reduce duplicate paper signatures, and make the process more secure and efficient, while preserving anti-fraud protections and allowing the OMV to set rules. Members asked whether the process would be mandatory, how fraud would be handled, and how identity would be verified; the sponsor said the system would become mandatory for participating commercial entities once implemented, with security standards and good-faith protections. The committee reported the bill favorably via substitute.
Finally, the committee approved House Bill 723, as amended, allowing certain two- and three-wheeled motorcycles and mopeds to proceed through a red light when sensors fail to detect them. The sponsor framed it as a safety measure to avoid riders being stranded at malfunctioning signals and to reduce rear-end collision risk. The committee also took up House Bill 882 on outdoor advertising, which would increase spacing between billboards on state highways from 150 feet to 1,000 feet, with an amendment preserving certain nonconforming signs rebuilt after acts of God. Supporters said the change would reduce billboard clutter and improve aesthetics, while opponents argued it would hurt smaller billboard owners, shift power to larger companies, and override local control. The committee adopted the amendments and continued debate on the bill, with testimony focused on its economic and local-government impacts.
WA
Washington 2025-2026 Regular Session
House Consumer Protection & Business Jan 23rd, 2026
Transcript Highlights:
- So that will require the life insurance companies to redesign our forms.
- And again, this also includes both surplus lines and admitted market insurers.
- There is also an additional requirement to receive replacement cost for...
- There is also an additional requirement to receive replacement cost for a federal policy.
- As you know, the National Flood Insurance Program, their mortgage and it's a requirement.
Summary:
The Consumer Protection and Business Committee held public hearings on three bills and then moved into a work session on insurance-related topics. House Bill 2428 would require life insurers to send advance written notice of an impending lapse or cancellation, including notice to a designated third party, and to provide proof of delivery; it would also require applicants to be told they may designate such a third party. The prime sponsor and the Office of the Insurance Commissioner supported the bill as a consumer protection measure for older or vulnerable policyholders, while the life insurance industry supported the concept but requested a delayed implementation date and a small technical amendment.
The committee then heard House Bill 2399, which would prohibit post-loss assignments of benefits in property insurance. Staff and the prime sponsor described the practice as allowing contractors to step into the policyholder’s shoes and potentially take control of claims, litigation, and settlement, often to the consumer’s detriment. The Office of the Insurance Commissioner, the Washington State Association for Justice, PEMCO, and the National Insurance Crime Bureau all supported the bill, emphasizing consumer vulnerability after disasters and the risk of fraud or inflated claims. Members asked about steering by adjusters, alternative ways for homeowners to authorize others to help with claims, and the $50,000 per-violation penalty, which would go to the general fund.
House Bill 2087 would enact a Washington Travel Insurance Act based on the NAIC model, creating a more detailed statutory framework for travel insurance licensing, travel retailers, travel administrators, disclosures, and prohibited sales practices. The sponsor and industry witnesses said the bill would expand consumer choice and standardize rules, while the Office of the Insurance Commissioner supported the compromise language but raised a remaining concern about claims being adjusted by unlicensed adjusters. The Attorney General’s Office testified that the bill should not be read to supersede Washington’s anti-discrimination and consumer protection laws, and the sponsor said amendments were being worked on to address that concern.
In the work session, OIC and Department of Natural Resources staff presented the wildfire mitigation and resiliency work group report. They said the group reached consensus on several areas, including the importance of community-level mitigation, better data sharing, improved transparency around wildfire-related nonrenewals and cancellations, and a voluntary grant program to help homeowners retrofit to IBHS wildfire-prepared standards. Members asked about leadership for the recommendations, overlap with existing programs, privacy concerns in data sharing, and how the proposals would fit with broader statewide wildfire planning. The committee also received a briefing on flood insurance markets and claims after the December atmospheric flooding event, with staff noting that private flood policies generally offer broader coverage than the federal NFIP, and that Washington had seen about 700 federal claims and roughly $18 million paid out so far.
MN
Minnesota 2025-2026 Regular Session
Governor Tim Walz Media Availability 2/27/26
Minnesota House Floor Meeting
Transcript Highlights:
- Focus on the things that are growing our economy, that are creating the surplus, that are improving people's
- Focus on the things that are growing our economy, that are creating the surplus, that are improving people's
- Focus on the things that are growing our economy, that are creating the surplus, that are improving people's
- Focus on the things that are growing our economy, that are creating the surplus, that are improving people's
- Very" "The surplus, that are improving people's lives, but be very thoughtful.
MN
Minnesota 2025-2026 Regular Session
Press Conference: Republican Lawmakers Address Allocation of Health Care Funding - 04/21/25
Transcript Highlights:
- Democrats' spending spree since 2023 has turned a nearly $18 billion surplus into a $6 billion deficit
- one-party control that we saw over the last two years that wasted a lot of money, spent through the surplus
- <00:06:57.280><c> went</c><00:06:57.520><c> through</c><00:06:57.759><c> the</c><00:06:57.919><c> surplus
- </c> money, spent 18 went through the surplus money, spent 18 went through the surplus of<00:06:58.639
MN
Minnesota 2025-2026 Regular Session
House DFL Press Conference 1/17/25
Transcript Highlights:
- The projections in November for the next biennium was a surplus of $0.5 billion, allowing us to use $900
- million to increase funding to keep it level with inflation, and then $616 million plain old surplus
- 07.200><c> old</c> inflation and then 616 million plain old inflation and then 616 million plain old Surplus
- 09.440><c> next</c><00:25:09.679><c> bium</c><00:25:10.200><c> and</c><00:25:10.399><c> that's</c> Surplus
- um for the next bium and that's Surplus um for the next bium and that's the<00:25:10.720><c> bium</c
MN
Minnesota 2025-2026 Regular Session
House Floor Session-part 2/Joint Convention of the House & Senate/State of the State Address 4/23/25
Minnesota House Floor Meeting
Transcript Highlights:
- We'd have a surplus after this year. The wave won't crash this year, but it will crash.
- We'd have a surplus<00:36:38.000><c> after</c><00:36:38.320><c> this</c><00:36:38.560><c> year.
- </c><00:36:39.440><c> The</c><00:36:39.599><c> wave</c><00:36:39.920><c> won't</c> surplus after this
- The wave won't surplus after this year.
ID
Transcript Highlights:
- They either went without coverage, they would have gone to maybe a surplus lines product, but even surplus
- And it talks about, you know, you can't require sewer systems.
- Can't require sewer systems.
- of the short-term rental to implement the following requirements and enlist a number of requirements,
- And it lists a number of requirements, all very good ones to address safety.
Committee:
House Business
ID
Transcript Highlights:
- surplus lines products only increased by 3,000.
- And it talks about, you know, you can't require sewer systems.
- But we have a lot of problems going on. ...can't require sewer systems.
- of the short-term rental to implement the following requirements, and it lists a number of requirements
- And it lists a number of requirements, all very good ones to address safety.
Committee:
House Business
Summary:
The committee first considered several RS introductions. RS 33229, by Rep. Healy, would exempt interior designers from parts of Idaho’s architecture practice law and create a certification pathway; it was introduced after brief questions. RS 33039, by Reps. Scott and Price, would create the Consumer Payment Rights and Transparency Act to limit the use of programmable money in ways that monitor or restrict lawful behavior; it was introduced after discussion about the bill’s new code section. RS 33177, by Rep. Sauter and Church, would require more transparency from insurance carriers about rating information for policyholders; it was also introduced. Director Dean Cameron then presented RS 32863, a wildfire risk mitigation fund proposal for homeowners, funded by excess fees and premium tax revenues to help harden homes against wildfire risk; members asked about eligibility, covered properties, and whether the program would apply statewide, and the RS was introduced.
The committee then took public testimony on House Bill 583, which would strengthen statewide protections for short-term rentals and limit local governments from effectively prohibiting them while still allowing ordinances on health, safety, and welfare. Supporters, including the bill sponsor Rep. Jordan Redman, Idaho Realtors, vacation rental owners, and several property owners, argued the bill protects private property rights, supports tourism and local income, and prevents cities from imposing burdensome requirements such as commercial-style code upgrades, conditional use permits, or occupancy restrictions. Several supporters described personal examples of responsible short-term rental use, including housing for traveling workers and family gatherings, and said existing nuisance, noise, parking, and safety laws are sufficient.
Opponents and skeptical witnesses, including residents of McCall, Driggs, Island Park, and the Association of Idaho Cities, argued that local governments need flexibility to address neighborhood impacts, overcrowding, sewage and water-system concerns, and repeated noise or party problems tied to high-turnover rentals. Some said current local ordinances have helped manage these issues, while others warned the bill would weaken local control and make enforcement harder. Committee members questioned witnesses about occupancy limits, code requirements, fees, and whether local rules were being used as de facto bans. At the close of testimony, Rep. Crane moved to send HB 583 to the floor with a do-pass recommendation, and several members declared Rule 80 conflicts or potential conflicts related to short-term rental ownership; the transcript ends amid member comments and debate, without a recorded final vote on the motion.
MN
Transcript Highlights:
- I just don't think this bill is it. and that $18 billion surplus now has us and that $18 billion surplus
- Senator Miller, they're required to do that in the other parts of the bill. So thank you, Mr.
- ><c> to</c><01:01:00.160><c> do</c> Senator Mill, they're required to do Senator Mill, they're required
- Required to maintain records.
- ><c> billion</c><01:22:01.679><c> in</c> surplus, added another10 billion in surplus, added another10
Committee:
Senate Taxes
FL
Florida 2025 Regular Session
April 10, 2025 - 09:00 AM
Transcript Highlights:
- The bill also provides requirements for how the Bitcoin must be held.
- The bill requires the transfer of Bitcoin payments to the General Revenue Fund and reimbursement from
- So which value point would the CFO be required to use? Because it fluctuates. It goes up and down.
- I'm very excited about the new surplus requirements.
- I'm very excited about the new surplus requirements.
Summary:
The Insurance and Banking Committee met with a quorum and heard three bills. HB 487 would authorize the CFO and State Board of Administration to invest up to 10% of certain state funds in Bitcoin, require specified custody methods, allow Bitcoin lending under rule, and create a process for accepting taxes and fees in Bitcoin. The sponsor and several proponents argued it would diversify state investments, hedge inflation, and position Florida as a leader in digital assets. Members raised concerns about volatility, security, valuation, and whether Bitcoin was being singled out over other cryptocurrencies, but the bill was reported favorably after debate and a roll call vote.
The committee then considered HB 7011, an Open Government Sunset Review measure for records of insolvent insurers. The bill would continue some exemptions but make additional records public, including underwriting files, risk-solvency assessments, corporate governance annual disclosures, and the names, benefits, and compensation of insurance executive officers. There was no public testimony, and members discussed privacy and safety concerns, but the bill passed and was reported favorably.
Finally, the committee heard HB 1433 on hurricane mitigation grants and insurer regulation. The bill would tighten restrictions on former executives of failed insurers, raise capital requirements for new insurers, and require mitigation credits when homeowners receive Safe Florida Home funds. An amendment was adopted to require a licensed person to make final claim-denial decisions when AI or automation is used and to prioritize filings that lower rates. Consumer advocates supported the transparency and consumer protections, while industry representatives urged caution on the AI provisions. After debate, the amended bill was reported favorably. The meeting ended with closing remarks from the ranking member, vice chair, and chair reflecting on the committee’s work and likely final meeting of the term.
CA
California 2025-2026 Regular Session
Assembly Budget Subcommittee No. 4 on Climate Crisis, Resources, Energy, and Transportation Mar 19th, 2025
Transcript Highlights:
- The budget bill language would require loan authority language.
- **SB 707** requires PRO applications due to CalRecycle by January 1, 2026.
- We believe this project is going to meet all those requirements.
- DPR is doing the internal work to meet the requirements in AB 2113, such as the registration requirements
- implement those requirements.