Transcript Highlights:

• So the Rural Library Endowment was passed in 2019.
• part of the state library system because of the work of the endowment.
• Last year, they each got about $23,000 from the endowment.
• If they had had the endowment funds a few years ago, when the endowment was only distributing a couple
• So the endowment, I just want to make sure I got this clear.

Bills: SB61 , SB62 , SB99

Committee: Senate Senate Indian, Rural & Cultural Affairs

Keywords: rural libraries, funding, cultural affairs, education, community support, appropriation, state investment, public resources

Transcript Highlights:

• I've always been curious about the endowment funds.
• Your explanation mentioned matching the endowment funds.
• So when I have more questions about endowments, maybe I can look you up. Please do.
• The universities will still be responsible for matching the endowment when it's...
• So we would have to find $75 million somewhere if we wanted to match those endowment funds.

Bills: HB818 , HB1063 , SB28 , SB64 , SB142 , SB234 , SB482

Committee: House Education

Keywords: higher education, accountability, curriculum review, faculty governance, disciplinary procedures, SB 28, Act 233, associate educator program, associate teachers, teacher certification, alternative teacher pathway, education workforce, teacher shortage, minimum age, age requirement, Louisiana schools, Title 17, R.S. 17:7.8, educator pipeline, teacher recruitment

Transcript Highlights:

• I've always been curious about the endowment funds.
• Your explanation mentioned matching the endowment funds. Can you...
• So when I have more questions about endowments, maybe I can look you up. Please do.
• for matching the endowment when it's needed or when required.
• So we would have to find $75 million somewhere if we wanted to match those endowment funds.

Committee: House Education

Summary: The House Education Committee met on April 29, 2026, with a quorum present and heard several higher education and K-12 bills. SB 234 by Sen. Presley, which would provide grading for medical school students, was briefly discussed and reported favorably without objection. SB 142 by Sen. Reese, dealing with continued management and oversight of Board of Regents support fund matched endowments if a related constitutional amendment passes, drew questions about endowment matching, oversight, and the roughly $75 million in unmatched requests; it was also reported favorably without objection. SB 482 by Sen. Reese, expanding the role of career coaches in middle and high school graduation planning and reporting on career development fund spending, received support from BESE and others, with committee members discussing counselor workload and district flexibility; it was reported favorably without objection. The committee then took up SB 64 by Sen. Hodges, which would require two people to review initial video/audio recordings from cameras in self-contained classrooms when complaints arise, and the bill was reported favorably without objection. HB 1063 by Rep. Owen, a broad higher education governance bill that would increase board oversight of curriculum, hiring, faculty senates, and discipline, generated extensive discussion and testimony from Rep. Owen and a representative of Parents Defending Education Action, but the author said he did not want to vote on it yet and moved to voluntarily defer it; the committee agreed without objection. HB 818 by Rep. Riser, as amended, was converted into a reporting bill requiring public inventories and state reporting on assessments, with Cynthia Posey of the Louisiana Federation of Teachers explaining the amendments; the committee adopted the amendments and reported the bill favorably with one opposition card noted. Finally, SB 28 by Sen. McMath, carried by Rep. Carver, would lower the age for associate teachers from 25 to 21 to help address the teacher shortage; Department of Education staff said the change could expand the pipeline, and the bill was reported favorably without objection. The committee also announced it would meet the following week on Wednesday, May 6, and then adjourned.

Transcript Highlights:

• . >> Just want to note for the record that Representative Ko is a Iowa Hawkeye.
• you for coming and good luck to you. >> Just want to note for the record that Representative Ko is a Iowa
• </c><00:37:23.760><c> So</c> Representative Ko is a Iowa Hawkeye.
• So Representative Ko is a Iowa Hawkeye.
• To Vice President Robert Davis, does the university borrow from your endowment fund or your University

Committee: House Capital Investment

Transcript Highlights:

• I feel like maybe there's a mix between individual university endowments and system endowments.
• Whether it's engineering and AI, nursing, can help build those endowments.
• I think a lot of the endowments start young.
• it comes easier to get the endowments.
• it comes easier to get the endowments.

Committee: Senate Education Postsecondary

Summary: The Committee on Education Postsecondary held confirmation hearings for two State University System Board of Governors appointees, M. Carson Good and Speaker Paul Renner. Good described his background in Florida real estate, airport governance, and fundraising, and said he would focus on improving university performance, collaboration among institutions, and growing endowments while keeping in-state tuition stable. Renner emphasized his legislative experience with higher education, and said his priorities on the Board would be transparency, compliance with legislative direction, and reducing administrative bloat. Both nominees were recommended for confirmation on a single vote, with Senator Berman noting concern about the low number of women on the board. The committee then heard and passed SB 1726, a higher education transparency bill by Senator Calatayud. The bill would require Board of Governors members to comply with constitutional financial disclosure requirements, set term limits for State Board of Education and university board members, change rules for presidential searches and public records, and require more detailed textbook and syllabus information for students. A student advocate from Florida Student Power Network supported the bill as increasing student involvement and democratic accountability in higher education. Senator Harrell raised a concern about residency requirements for Board of Governors members, and the sponsor said that issue could be revisited later. The bill was reported favorably. Next, the committee considered SB 1458 on apprenticeship and pre-apprenticeship funding. A delete-all amendment was adopted that required clearer funding splits between local education agencies and program providers, annual reporting, a standard DOE contract template, and a cap on administrative fees in certain cases. Supporters from industry groups said the changes would improve transparency and accountability without requesting additional funding. The committee then reported the bill favorably. Finally, the committee heard SB 584 on young adult housing support. An amendment removed a requirement that state agencies act as co-signers or guarantors on leases while preserving coordination for the federal Foster Youth to Independence program. Several former foster youth and advocates testified in support, describing housing instability and its impact on education, and urging broader access to campus housing and vouchers. The sponsor said the bill prioritizes housing and work-study for homeless and former foster youth, supports the FYI program, and directs a statewide study of housing barriers. The committee reported the bill favorably and then adjourned.

Transcript Highlights:

• And basically, the endowment fund was built and the endowment lands were given... R.S. 33436.
• I've been from the very beginning, endowment fund.
• And basically, the endowment fund was built and the endowment lands were given.
• And basically, the endowment fund was built, and the endowment lands were given to support our schools
• The purpose of what the endowment lands were originally intended to do.

Committee: House Education

Transcript Highlights:

• In total, there are nine beneficiaries to the endowment.
• That change allowed the endowment to be more allowed the endowment to be more broadly invested, and now
• While the endowment continues to institution.
• The endowment is also fundamentally, its portfolio.
• That's the endowment.

Committee: Senate State Affairs

Transcript Highlights:

• Children and has probably endowed dealers, more recently called the millennials, so these are kind of
• are the states with the least immigration: West Virginia, Wyoming, Montana, Vermont, Arkansas, and Iowa

Committee: Senate Senate Committee on the Census

Summary: The Senate Committee on the Census heard presentations on Massachusetts population trends and how they affect state housing planning. Susan Strait of the UMass Donahue Institute reviewed recent Census Bureau estimates, saying Massachusetts grew strongly over the last decade but that growth has slowed sharply in the newest estimates, largely because net international migration has fallen from a post-pandemic surge. She also described the four components of population change—births, deaths, domestic migration, and international migration—along with aging trends, declining fertility, the importance of the millennial cohort, and the role of foreign-born residents in births and the labor force. Committee members asked about college students in group quarters and about counting incarcerated people, and Strait explained the Census Bureau’s current methods and noted that some issues remain under discussion. Jesse Guerrero of the Metropolitan Area Planning Council then explained how MAPC uses UMass Donahue population projections to build household and local land-use forecasts for MassDOT and the statewide housing plan. He said the earlier transportation projections anticipated slower statewide growth and regional decline in western Massachusetts and on the Cape, with more growth in eastern Massachusetts. He also described how household formation, development patterns, zoning, and affordability are modeled, and noted that newer housing-plan scenarios use updated Census data and different assumptions about migration. Senator Miranda raised concerns about Cape Cod population loss and whether seasonal residents are being counted, and Guerrero and Strait said the projections focus on permanent residents, not seasonal populations. Tim Reardon of the Executive Office of Housing and Livable Communities tied the demographic forecasts to the statewide housing plan, saying housing demand exists even under low-growth or slight-decline scenarios. He said the plan estimates about 115,000 homes are needed to address existing shortages, including doubled-up households, shelter families, seasonal conversion losses, and the need for healthier vacancy rates, plus additional units tied to future household formation. He added that the state’s total housing target is about 222,000 units, or as high as 262,000 under a higher-growth scenario. Senators pressed him on whether the scenarios are now too high given the recent drop in immigration, on affordability and out-migration, and on whether the housing plan adequately reflects homelessness and overcrowding in Boston and elsewhere. Reardon said the plan includes production, rental assistance, shelter prevention, and preservation strategies, and noted that HLC is also using grant programs and MBTA Communities-related infrastructure funding to support housing production statewide.

Transcript Highlights:

• I was a licensed advisor at Merrill and at Wells Fargo and Farm Bureau Financial out of Iowa before I
• about an asset that needs to be protected and will have long-term viability like a corpus of this endowment

Summary: The committee heard and advanced a series of bills and resolutions, many involving taxes, education funding, health policy, and election rules. Representative Newton’s HB 1823, on the Oklahoma Housing Finance Agency’s home-building activities, passed 10-0. Speaker Hilbert’s HB 2425, which would align Oklahoma election dates more closely with Texas and move some elections to March, passed 9-2 after debate about turnout and accountability. HB 4440, requiring Medicaid work requirements to track federal law, passed 10-2 amid discussion of chronic unemployment and the limits of changing Medicaid expansion because it is in the Constitution. HJR 1087, a major proposal to restructure the T-SET tobacco settlement trust and redirect funds toward higher education and related uses, passed 12-0 after extensive debate over venture capital investing, public health spending, and whether the trust should be modernized. The committee also took up several property-tax measures. HJR 1053 would create a revenue-neutral ad valorem framework, requiring local approval for increases beyond prior-year levels; it passed 9-2. HJR 1054 would exempt business inventory from ad valorem taxation, and after questions about scope and possible abuse it passed 9-2. HJR 1044 would lower the annual cap on growth in assessed value for homestead and agricultural property from 3% to 2%; it passed 9-2. HB 4145 would raise the homestead exemption from $1,000 to $7,000 and passed 9-1. HJR 1081 would freeze ad valorem taxes for qualifying seniors and passed 8-1. The committee also advanced HB 3891, a county commissioner pay bill, after title was struck and members discussed its impact on small counties; it passed 9-2. Other measures included HB 1770, directing an elk population study by Oklahoma State University, which passed 11-0; HB 1675, requiring youth camps to complete site-specific hazardous assessments, which passed 11-0; HB 3627, allowing the State Committee of Blind Vendors to meet by video conference due to quorum issues, which passed 11-0; HB 3472, expanding tire-recycling fund eligibility, which passed 10-1; and HB 1225, barring changes to the biological sex designation on birth certificates, which passed 8-2 after debate over medical, legal, and equal-protection concerns. The committee also advanced HJR 1019, a heavily amended proposal concerning party nominations for general elections, after striking title and narrowing the scope to federal, state, and county races; it passed 8-1 with two not voting. HB 3462, updating plumbing licensing law and aligning exam standards with other trades, passed 9-0 after title was struck to accommodate further negotiations.

Transcript Highlights:

• sometimes called the endodewers; I don't know how much of the album around. ...children, and has probably endowed
• Here are the states with the least immigration: West Virginia, Wyoming, Montana, Vermont, Arkansas, Iowa

Committee: Senate Senate Committee on the Census

Transcript Highlights:

• can request to go to the State Office of Administrative Hearings and we'll take the arguments before Iowa
• higher education, there's contingent funding of $850 million for a Texas State Technical College endowment

Committee: House Ways & Means

Transcript Highlights:

• This is related to an anticipated increase in the endowment distribution.
• I had that initial question about the endowment. I was talking, you know, Mr.
• So a little bit about the endowment funds would be interesting.
• Typically what happens with the endowment, if we receive a dollar more of endowment, what we look to
• fund to absorb that increase in the endowment.

Summary: The Senate Finance and House Appropriations committee met with a quorum present and began with questions about a Rural Health Funding Task Force. Members asked who created it, what notice was given, whether it was replacing JFAC, and whether it was separate from the governor’s task force. The chair said it was created by legislative leadership rather than this committee, that JFAC would still control funding decisions, and that the task force was intended to provide structure and policy direction if the funding moves forward. The committee then received a General Fund Daily Update from Legislative Services analyst Christopher LaHosette, who noted updated revenue projections, three introduced House bills with general fund fiscal impacts, and the green sheet’s totalizing function for tracking legislation. The main presentation was from the Department of Health and Welfare on the Division of Welfare, Mental Health Services, and Psychiatric Hospitalization budgets. Alex Williamson reviewed the divisions’ roles, staffing, and five-year spending trends, and outlined the governor’s recommendations, including Medicaid eligibility system changes tied to federal law, SNAP administrative cost shifts to the state, Medicaid expansion work requirements, restoration of transfer authority, and behavioral health requests tied to the Jeff D. settlement and Idaho Behavioral Health Plan. Director Juliet Sharon said the department’s requests were largely maintenance, restoration, or compliance items, including system changes for twice-yearly Medicaid redeterminations and work requirements. Members asked about the impact of federal changes, the $5 million increase in welfare operations, vacancy levels, endowment funds, and whether the department could compare SNAP administrative costs to other states. Several questions focused on mental health cuts, the former Center of Excellence, the request to combine adult and children’s mental health budgets, and the effect of reductions on crisis services, ACT services, and mobile crisis units. Sharon and Behavioral Health Administrator Ross Edmonds said the department was trying to preserve crisis and hospital services, maintain separate tracking for children and adults, and monitor access closely while complying with legal and federal requirements. The committee also discussed Magellan’s contract, audit findings, and managed care oversight. Sharon said Magellan is reviewed through monthly, quarterly, and annual deliverables and can be placed on corrective action plans; she also said the department has processes to prevent payments for deceased or ineligible individuals. Members asked about duplication of services, the use of endowment funds at state hospitals, the need for more behavioral health workforce data, and whether the department could share equipment or contract out maintenance at the psychiatric hospitals. No votes were taken, and the committee adjourned after indicating it would meet again Monday morning.

Transcript Highlights:

• IF YOU LOOK AT UNIVERSITY OF FLORIDA'S ENDOWMENT, VIRGINIA, MICHIGAN ARE BIGGER.
• IN GENERAL OR WOULD YOU SPECIFICALLY WORK WITH INDIVIDUAL SCHOOLS TO HELP THEM BUILD THOSE ENDOWMENTS
• I FEEL LIKE MAYBE THERE'S A MIX BETWEEN INDIVIDUAL UNIVERSITY ENDOWMENTS AND SYSTEM ENDOWMENTS, THERE
• I THINK A LOT OF THE ENDOWMENTS STARTED YOUNG.
• BUT AS WE CONTINUE TO BUILD SUPERPOWERS, I THINK THOSE ENDOWMENTS, IT BECOMES EASIER TO GET THE ENDOWMENTS

Transcript Highlights:

• The SEC has green-lit spot-backed ETFs, enabling regulated access... ...for investors, endowments, and
• Any effort to impose an endowment tax in Massachusetts must be rejected.
• Endowment funds simply cannot be diverted to pay a tax.
• If you could talk about the federal endowment tax, which was part of the federal reconciliation law,
• Endowment funds simply cannot be diverted to pay a tax.

Committee: Joint Joint Committee on Revenue

Summary: The Joint Committee on Revenue held a hearing on 25 tax and administrative bills, with opening remarks explaining the hearing process and noting that House-filed matters must be reported by December 6. The first major topic was funding for the Massachusetts Law Enforcement Memorial and related support for families of fallen officers. Police representatives, memorial fund advocates, and family members gave emotional testimony urging favorable action on S. 1934 and related bills, emphasizing the need for a permanent revenue stream to maintain the memorial and honor officers killed in the line of duty. Committee members and legislators responded with personal remarks of support and appreciation for law enforcement families. The committee then heard testimony on a proposed Commonwealth Bitcoin Strategic Reserve, including S. 1967 and related bills. Senator Peter Durant and later Dennis Porter argued that the state should be allowed to invest a limited share of stabilization or other funds in Bitcoin or other regulated digital assets as a hedge against inflation and fiscal risk, with strict caps, custody rules, and audits. They described the proposal as a forward-looking, non-mandatory framework for diversifying state reserves. No vote was taken during the hearing. Another major topic was disaster resilience funding. Dr. Paul Biddinger of Mass General Brigham supported S. 1936/H. 3030, saying climate-driven flooding, drought, and wildfire risks are increasing and that the State Disaster Relief and Resiliency Trust Fund needs a dedicated revenue source. Senator Comerford also testified in favor, explaining that the fund was created in the prior session, that recent floods showed the need for quick state response, and that the bill would dedicate a portion of capital gains revenue to the fund. Committee members asked about how the fund would accrue and be used. The committee also heard testimony on PILOT and endowment-related bills: AICUM opposed H. 3122/S. 2013 and H. 3264/S. 2016, arguing that an endowment tax and mandatory PILOTs would harm private nonprofit colleges, students, and research; and a representative from Peru supported reform of PILOT formulas for state-owned land, saying rural towns need higher reimbursements and hold-harmless protections. The hearing concluded after testimony on the digital asset bills, with no recorded votes or final actions.

Transcript Highlights:

• serve on the Endowment Fund Investment Board, and so I've got some of the history there.
• The Endowment Fund Investment Board has appreciated their assets by $2.8 billion.
• It's actually a little bit complicated because the endowment fund is broken up into multiple pieces.
• It's actually a little bit complicated because the endowment fund is broken up into multiple pieces.
• The endowment lands were always to raise money for the beneficiaries, and I think we are watering it

Committee: House State Affairs

Transcript Highlights:

• Uh, first I'm going to talk about the school trust endowment, what the endowment is for public education
• . endowments. endowments.
• . endowment. endowment.
• . endowments. endowments.
• You will observe that regardless of size, small endowments below $50 million to large endowments over

Bills: HF3900

Committee: House Education Finance

Transcript Highlights:

• One of those is endowments.
• So does each of your universities have an endowment?
• So our endowment is housed in our foundation.
• So our endowment is housed in our foundation.
• and the spin-off from the endowment, the endowment spend that we have on an annualized basis.

Summary: The Higher Education Budget Subcommittee met to hear an overview of State University System finances from the Board of Governors and detailed budget presentations from Florida State University, the University of Central Florida, and the University of North Florida. The witnesses explained how university budgets are organized into fund categories such as education and general, contracts and grants, auxiliaries, local/designated funds, capital projects, and component units such as direct support organizations. They also described carry forward funds, the statutory reserve and spending-plan requirements, the PICO/HECO capital outlay process, and how universities use investment accounts, audits, and board oversight to manage restricted and unspent funds. The universities emphasized that most operating dollars are restricted to specific uses and that state support helps keep tuition low. Members asked about differences in funding levels among institutions, especially why FSU receives more funding than UCF despite lower enrollment. Officials said preeminence funding, performance funding, and special legislative appropriations explain much of the difference, and the Board of Governors noted that Florida now has four preeminent universities, with UCF nearing that status. Questions also focused on what happens to unspent carry forward money, how it is invested, and whether the Board of Governors or Legislature can require funds to be returned; officials said the money is invested conservatively, subject to board and audit oversight, and can roll forward under a detailed spending plan, though the Legislature can change funding levels. The committee also discussed capital projects, with members asking about delays, inflation, and whether more projects should be phased or funded faster; witnesses said PICO funds remain with the state until needed and are reimbursed as construction proceeds. A substantial portion of the discussion covered athletics, research, student fees, and endowments. The universities said athletics is generally expected to be self-supporting, though limited use of auxiliary or carry forward funds may be allowed for projects benefiting the broader student body. They also described the financial pressures from name, image, and likeness changes and new NCAA-related costs, and said institutions are planning for those changes now. On research, the universities explained sponsored research funding, indirect cost recovery, compliance obligations, and tech transfer, but did not provide specific commercialization revenue figures and said they would follow up. Members also asked about student fee increases, student input, counseling and wellness funding, and how housing costs affect affordability; the universities said student committees and boards review fees, and aid packaging is intended to keep student debt low. Endowments were described as being held in separate foundations/DSOs with independent investment committees and used mainly for scholarships, faculty support, and research.

Transcript Highlights:

• lands that belong to the endowment beneficiaries as long as those activities don't degrade the land
• And the Land Board has very broad authority over those endowment lands.
• As far as FY25 accomplishments go, $103 million was distributed to our endowment beneficiaries.
• This is done on a million acres of endowment timber lands.
• over $100 million in distributions to the endowment beneficiaries last year.

Committee: House Resources and Conservation

Transcript Highlights:

• </c><00:02:37.080><c> could</c> the request that if the endowment could the request that if the endowment
• You have to the corpus of the endowment.
• </c> an endowment purpose. an endowment purpose.
• </c> because it's an endowment? because it's an endowment?
• 37.600><c> is</c><00:15:37.720><c> another</c> endowment concept, I think is another endowment concept

Bills: SB3263 , SB3261

Committee: Senate Education

Summary: The joint committees heard testimony on Senate Bill 3263, which would create a state-supported endowment for University of Hawaii athletics NIL (name, image, and likeness) funding. University of Hawaii Athletics Director Matt Eliott supported the bill, saying NIL requires both immediate funding and a longer-term sustainable solution. He asked for several changes: lowering the initial endowment target from $10 million to $2 million so the fund could start sooner, allowing NIL reporting by team rather than by individual student-athlete, and clarifying that athletes may choose whether to use an agent, while still allowing certified agents or a parent/guardian if desired. Committee members raised concerns about using taxpayer dollars for athlete compensation, the burden on a small-state budget, and whether the university could realistically raise the required matching funds. Several senators questioned whether the university had a concrete fundraising plan and whether the endowment would meaningfully help UH compete with larger programs. Eliott said UH is already fundraising privately for current NIL obligations, had raised more than $1.6 million toward a $3 million annual goal, and would continue fundraising for both short-term needs and the endowment match. He also said the university is not trying to compete with Power Five schools on the same scale, but to be successful at its own conference level. Members also discussed transparency and privacy, with some senators arguing that if state money is used, the public should know how it is spent, while Eliott said individual student-athlete NIL information should remain private and team-level reporting would be preferable. He confirmed international student-athletes are eligible for NIL and said about 60 to 70 UH athletes are currently participating, with more than 100 expected next year. The discussion also touched on UH’s Mountain West media rights and local TV rights, with Eliott explaining that the conference distribution is expected to remain around $3.5 million and that local TV rights would be negotiated separately. No vote or final action was taken during the portion of the hearing provided.

Transcript Highlights:

• The Chair recognizes the gentlewoman from Iowa, Ms. Miller-Meeks, for five minutes. Thank you, Mr.
• I rise today to honor the life and legacy of World War II hero Henry Linger of Clinton, Iowa.
• </c> I thank you, the gentlelady from Iowa. Madam Speaker, thank you.
• </c> especially those in Iowa. especially those in Iowa.
• Miller-Meeks from the great state of Iowa. The gentlewoman is recognized.

Bills: SB146 , HR973 , HR859 , HR906 , HB2449 , HB2399 , HR866 , HB2482 , HB2444 , HB2458 , HB1721 , HB2480 , HB1479 , HB1442 , HR1402 , HR617 , HR452

Keywords: nonconsensual, visual depictions, digital forgery, intimate content, online platforms, privacy, protection, harm prevention, John F. Kennedy Center, Donald J. Trump, Federal arts funding, memorial designation, cultural institutions, Congressional authority, public arts programs, Hampden-Sydney College, anniversary, higher education, civic responsibility, liberal arts