Transcript Highlights:

• that it must be securities, but it doesn't have to be invested in assets that are as immediately liquid
• Meaning there's high liquidity, so you could liquidate those assets at almost any time.
• investing in longer-term investments, the Rainy Day Fund and the ESF become less expensive, less liquid
• I understand the position that you want it to be completely liquid, completely cash, but what this is
• With a portion, understanding that the vast majority of it will remain in liquid assets.

Bills: HJR138, HB42, HB 104, HB 129, HB677, HB426, HB668, HB1699, HB2017, HB2128, HB2038, HB3783, HB3717, HB2316, HB3686, HB2563, HB3883, HB4021, HB2788, HB2663, HB3305, HB3173, HB3474, HB 1105, HB3531, HB3490, HB3597, HB 1295, HB3512, HB3010, HB3112, HB4215, HB3223, HB3464, HB3120, HB4214, HB4511, HB3704, HB4081, HB4783, HB4063, HB2783, HB4937, HB5085, HB2510, HB3426, HB4361, HB 1169, HB2516, HB2347, HB4034, HB4700, HB3560, HB5150, HB3860, HB3146, HB3924, HCR98, HCR92, HB1520, HB1545, HB5265, HB1887, HB1914, HB2402, HB2306, HB2350, HB3000, HB3237, HB3326, HB3211, HB 1056, HB2081, HB2187, HB3092, HB3308, HB3526, HB3750, HB4219, HB4230, HB4290, HB5238, HB4804, HB4749, HB245, HB1465, HB294, HB793, HB809, HB3928, HB334, HB2037, HB1973, HB285, HB4341, HB 1043, HB 1234, HB 1193, HB1729, HB2498, HB1314, HB1353, HB3960, HB3923, HB2221, HB2517, HB2518, HB2213, HB5092, HB3748, HB5246, HB4344, HB1482, HB4044, HB2702, HB4264, HB2807, HB2898, HB3181, HB3250, HB2091, HB2115, HB2542, HB2768, HB3349, HB4406, HB1593, HB1899, HB3133, HB3133, HB4960, HB3214, HB2145, HB 1201, HB5061, SB29, SB879, SB65, SB1745, SB412, SB412, SB1746, SB1238, SB1341, SB522, SB1532, SB1378, SB1062, SB2066, SB1963, SB2204, SB1366, SB2077, SB1967, SB1151, HB1618, HB2156, HB2615, HB2615, HB2349, HB1926, HB569, HB1762, HB38, HJR138, HB42, HB 104, HB 104, HB 129, HB677, HB426, HB668, HB1699, HB2017, HB2128, HB2038, HB3783, HB3717, HB2316, HB3686, HB2563, HB3883, HB4021, HB2788, HB2663, HB2663, HB3305, HB3173, HB3474, HB 1105, HB3531, HB3531, HB3490, HB3490, HB3597, HB 1295, HB3512, HB3010, HB3112, HB4215, HB3223, HB3223, HB3464, HB3120, HB4214, HB4511, HB3704, HB4081, HB4783, HB4063, HB2783, HB4937, HB5085, HB2510, HB3426, HB4361, HB 1169, HB2516, HB2347, HB4034, HB4700, HB3560, HB5150, HB3860, HB3146, HB3924, HCR98, HCR92

Keywords: carbon tax, carbon emissions, greenhouse gas, climate policy, fuel tax, emissions tax, Texas Constitution, Article VIII, tax limitation, environmental tax, fossil fuels, energy policy, legislative taxing authority, ballot proposition, constitutional amendment, higher education, funding, financial allocation, state budget, Texas A&M University

Transcript Highlights:

• types are only now in the initial stages of developing zero-emission technology and will require liquid
• We know there will continue to be liquid fuel options needed in the future.
• the regulatory package, there is resupply, and I think, you know, I would continue to discuss the liquidity
• And the liquidity in the market is really defined in terms of days of supply, which is how much supply
• think that we do have a concern that the spot market in California doesn't have as much trading liquidity

Summary: The Assembly Committee on Utilities and Energy held its annual oversight hearing on the transportation fuels sector, focused on California’s fuel transition, the announced refinery closures by Phillips 66 and Valero, and the potential effects on supply, prices, and the broader fuel system. Committee leadership said the state needs a system-wide transition plan rather than a piecemeal approach, and state witnesses from CARB, the CEC, and DPMO described the fuel market as a complex, interconnected ecosystem involving crude production, refining, storage, imports, and delivery. They emphasized that declining gasoline demand from EV adoption is occurring alongside shrinking in-state refining capacity, which could increase volatility and price spikes if not managed carefully. CARB Chair Liane Randolph reviewed the state’s climate and air-quality programs, including AB 32, SB 32, the 2022 scoping plan, the low-carbon fuel standard, and vehicle emissions rules. She said these policies have reduced emissions substantially but that California still faces major ozone and PM2.5 problems, especially in disadvantaged communities. Randolph also said federal actions challenging California waivers could complicate the state’s clean-air efforts, and she noted that while liquid fuels will still be needed in some sectors, the state must continue reducing fossil fuel dependence while protecting public health. CEC Vice Chair Siva Gunda and DPMO Director Ty Milder presented data on gasoline demand, refinery throughput, crude imports, and price differentials. Gunda said the Legislature’s special-session laws gave the agencies transparency and planning tools, and that the CEC is developing a fuels transition plan while evaluating whether any regulatory tools should be used. Milder previewed DPMO findings that Californians have paid a long-running “mystery gasoline surcharge” averaging 41 cents per gallon since 2015, with higher margins concentrated in branded gasoline and among vertically integrated firms. He said the data show a concentrated market with some refiners doing well and others struggling, and that DPMO will continue investigating price behavior, competition, and supply risks. Members pressed the witnesses on whether state regulations contributed to refinery exits or higher prices, and on whether the agencies had adequately analyzed consumer costs. Witnesses said they had not yet implemented the new permissive tools from SB X1-2 and AB X2-1 because they were still assessing risks and benefits, and they stressed that refinery closures and capital decisions are driven by broader market conditions as well as regulation. No vote was taken; the hearing was informational, with the committee seeking updates and urging the agencies to develop a practical transition strategy that balances affordability, reliability, climate goals, and worker/community protections.

Transcript Highlights:

• On page four, sub 8, monies may be used for strain fiscal liquidity.
• eight monies may be used for strain eight monies may be used for strain fiscal<00:19:52.679> liquidity
• we've<00:19:53.559> done<00:19:53.799> this<00:19:54.120> before fiscal liquidity
• we've done this before fiscal liquidity we've done this before and<00:19:54.799> prior<00:19:
• fysical liquidity in the short<00:20:15.080> run<00:20:16.039> sub<00:20:16.559> nine

Keywords: Meeting start 00:00:00 Roll Call 00:00:12 SB 28 Discussion 00:01:33 SB 28 Vote 00:04:05 SJR 26 Discussion 00:05:32 SJR 26 Vote 00:07:10 HB 741 Discussion 00:08:30 HB 741 Vote 00:14:00 HB 544 Discussion 00:15:40 HB 544 Vote 00:28:15 HB 775 Discussion 00:31:20 HB 775 Vote 00:56:00 HJR 33 Discussion 01:00:25 HJR 33 Vote 01:01:40, 958, all

Summary: The committee met on March 11, 2025, with a quorum present and first adopted a committee substitute for Senate Bill 28. The bill would create a framework for using $5 million previously set aside for agricultural economic development through the Kentucky Department of Agriculture, including loan and grant programs. Members asked about changes in the substitute, and the sponsor explained that it revised the board composition to include members with more experience in finance, lending, and economic development. SB 28 was approved 20-0 and reported favorably. The committee then approved Senate Joint Resolution 26, which directs the Department for Medicaid Services to provide the Legislative Research Commission a report on pharmacist pay parity and the cost of allowing independent pharmacists and pharmacies to be reimbursed by Medicaid for services within their scope of practice. The sponsor and Kentucky Pharmacists Association representative described it as a request for information rather than a policy change. The resolution passed 20-0 and was reported favorably. House Bill 741, relating to public water and wastewater systems, was next. The sponsor said the substitute incorporated Kentucky Infrastructure Authority recommendations, clarified best management practices, and allowed storm water inflow and groundwater infiltration reduction projects to be scored more fairly alongside water projects. Members discussed how the bill narrows eligibility to systems most in need and refines the scoring process for the program created last session. HB 741 passed 20-0, was reported favorably, and received a title amendment. The committee also considered House Bill 544, a branch budget bill amendment creating a new SAFE fund for the most recent Eastern Kentucky flood disaster, indexed to the relevant presidential disaster declaration. The bill would allow state money and other funds to support local governments, utilities, school districts, and other eligible recipients for recovery costs, planning, and short-term liquidity, with reimbursement provisions if FEMA or other sources later pay. Members discussed the amount of available funding, the use of prior SAFE fund balances, and the emergency clause. HB 544 passed 20-0, was reported favorably, and a title amendment was adopted. The committee then began House Bill 775, relating to development areas, and adopted PHS 2 and a committee amendment; the sponsor started explaining the bill’s provisions on development areas, tax increment financing, brewers’ electronic filing, distilled spirits property tax language, income tax reduction conditions, tourism development incentives, and other tax-related sections, but the transcript cuts off before final action on the bill.

Transcript Highlights:

• breakdown of the verification data, and it revealed that thousands of enrollees with substantial liquid
• So the federal law for the eligibility threshold is no more than $2,000 in liquid assets.
• We have over $5,000 that have more than $50,000. ...that have more than $50,000 in liquid assets.
• Anyone that has $50,000 in liquid assets.
• actually verify: cash in U.S. checking accounts, cash in U.S. savings accounts, domestic bank reportable liquid

Keywords: 1182, all

Summary: The Senate Committee on Health and Human Services held a fourth hearing in its ongoing review of alleged fraud, waste, and abuse involving AHCCCS/Access and DHS, with a major focus on Medicaid eligibility verification for the aged, blind, and disabled (ABD) population, behavioral health and sober living oversight, and payment delays to providers. Senator Shamp presented findings she said showed major gaps in ABD asset verification, including claims that only a fraction of enrollees were checked and that many ineligible members may remain on the rolls. She urged referrals to law enforcement, tighter verification requirements, better PARIS data sharing, and legislative changes to close what she described as a compliance and taxpayer-risk gap. Reva Stewart also testified that patient brokering and fraudulent recruitment of vulnerable people, including Native Americans, continues through social media and other channels, and she called for stronger enforcement and transparency. Heather Dukes, representing behavioral health and sober living operators, argued that the state’s response to fraud has become overly punitive toward legitimate providers. She said ADHS often sends technical paperwork deficiencies straight to enforcement instead of allowing plans of correction, that zoning approvals are being questioned despite not being within ADHS authority, and that long Access approval timelines are creating licensing and billing delays. ADHS Deputy Assistant Director Tiffany Slater said the department has seen a large volume of unlicensed complaints, that it is trying to improve staffing and data systems, and that some enforcement tools have been expanded for sober living homes. She also said many sober living operators are in recovery themselves and provide low-cost housing and support rather than direct billing to Access. Access Director Virginia Roundtree said the agency is trying to balance fraud prevention with support for legitimate providers. She reported steps such as daily internal huddles, live dashboards, added project management support, an outside review of the Division of Fee-for-Service Management, and a new external claims vendor to help reduce backlogs. Senators pressed her on a specific provider’s long-delayed payments and prepayment review, and she said the agency would provide answers early the following week. Access staff also described provider resolution roundtables and said unadjudicated claims had been reduced to zero, though members questioned whether that was due to denials rather than resolution. The hearing ended with the chair announcing legislation to preserve the American Indian Health Plan as a fee-for-service option while requiring Access to contract administrative and care management functions to another entity, citing structural failures in Access’s ability to operate the plan safely and effectively.

Transcript Highlights:

• Our state's 3% strict liquidated damages cap, which is the lowest in the nation, does increase the risk
• escrow, and the ability in statute for a buyer to challenge a developer if they believe that the liquidated
• The actual original version of this bill, before we got into the liquidated damages space, got into other
• Senate Policy Committee, working with them and see if that's something, because then we get off of liquidated
• It was AB 2020, and that actually did extend the liquidated damages cap for new condo construction to

Summary: The Assembly convened, established a quorum, offered a prayer and Pledge of Allegiance, and then took up a long third-reading file with several guest introductions and ceremonial resolutions. Early floor action included AB 713, allowing undocumented students equal access to campus jobs at UC, CSU, and community colleges, and AB 1049, streamlining California Food Assistance Program applications for low-income immigrant families; both passed. The body also defeated an amendment to AB 1421, a bill to begin studying a statewide mileage-based road user charge, before passing the measure. AB 1171, modernizing part-time community college faculty health insurance access, also passed with strong support. The Assembly then approved a series of policy bills on animals, domestic violence, telehealth for autism services, forestry, false lien filings, tianeptine restrictions, housing, common interest development fee transparency, prison sexual abuse accountability, PBM reporting, foster youth benefits protections, illegal dumping and abandoned RV removal, condo financing/liquidated damages, public contracting, pension-related study language, climate resiliency research funding, and a disposable vape reduction measure. Most passed with broad margins; AB 762 on vapor inhalation devices drew the most debate, with supporters emphasizing landfill fires and public health and opponents warning about revenue losses and illicit-market growth, but it still passed. AB 1406 on condo development financing drew extensive discussion about housing affordability and consumer protections before passing. The chamber also adopted three resolutions: ACR 120 declaring January 2026 Positive Parenting Awareness Month, ACR 121 designating January 2026 National Mentoring Month, and ACR 122 designating Anesthesiologist Week. Later, the Assembly concurred in Senate amendments on AB 1485, extending welfare-tax exemption treatment to federally recognized tribes holding land for conservation, and adopted the consent calendar, which included several additional bills and SCR 6. The session ended with adjournment until February 2, 2016, after which several members recorded vote changes from the floor.

Transcript Highlights:

• But then the AFFF concentrate liquid spill of November 2022 opened up the need to look at PFAS.
• But then the AFFF concentrate liquid spill of November 2022 opened up the need to look at PFAS.
• But then the AFFF concentrate liquid spill of November 2022 opened up the need to look at PFAS.
• But then the AFFF concentrate liquid spill of November 2022 opened up the need to look at PFAS.

Keywords: 912, senate, all

Summary: The joint hearing of the Committees on Public Safety and Military Affairs and Energy and Intergovernmental Affairs considered two resolutions related to Red Hill and PFAS contamination. HCR 186 urged the U.S. Department of Defense and Defense Health Agency to extend the renewal period for secretarial designee health care authorization for people affected by the Red Hill water contamination crisis and to improve access to care. Testimony from Moira Flanary and Board of Water Supply’s Ernie Lau supported the measure, emphasizing lasting health impacts, the need for continuity of care, and National Academies recommendations for continued eligibility and access to treatment. The second measure, HCR 200, urged the U.S. Department of Defense to reassess prior determinations and closure decisions under CERCLA in light of evolving scientific understanding of PFAS and recent federal hazardous substance designations. Mr. Lau testified in support, arguing that military investigations should not rely only on old records or AFFF documentation and should instead use current testing methods to identify contamination. He said PFAS is persistent, mobile in groundwater, and likely to require long-term remediation, and he also answered questions about cleanup challenges and the Board of Water Supply’s ongoing litigation against the Navy over Red Hill-related costs. At the end of the hearing, the committees voted to pass both HCR 186 and HCR 200 unamended. The Public Safety and Military Affairs Committee adopted the chair’s recommendations on both measures. The Energy and Intergovernmental Affairs Committee did not have quorum, so its votes were deferred until April 21 at 2:00 p.m. in Conference Room 225.

Transcript Highlights:

• Vaping devices, or vapes, use a battery to heat liquid to a high temperature, creating a mist, Vaping
• devices, or vapes, use a battery to heat liquid to a high temperature, creating a mist that a user inhales
• These liquids typically contain propylene glycol or vegetable glycerin.
• Furthermore, as the liquid heats on a metal coil, tiny pieces of that metal flake off and enter the mist

Keywords: 959, house, all

Summary: The Commerce Committee reconvened to continue testimony on House Bill 2085, which would preempt local regulation of the sale of tobacco, nicotine, and vapor products and establish a statewide standard. The bill sponsor and supporters repeatedly said the measure is intended to create uniform rules for retailers, protect small businesses from a patchwork of local ordinances, and preserve existing local zoning authority. Several members questioned whether the bill’s language was too broad or vague, especially as to whether it could affect zoning near schools or other sensitive locations, and the sponsor said zoning was not the intent and should remain local. Testimony in support came from representatives of the Missouri Vape and Alternative Products Association, Ware Brands, Warrant’s, the Missouri Grocers Association, Maverick Convenience Stores, and the Missouri Petroleum Marketers and Convenience Store Association. Supporters argued that local flavor bans or other restrictions would harm small businesses, create compliance problems, and push sales into neighboring jurisdictions. They also said federal Tobacco 21 rules already govern sales to minors, and that the bill should be read as a statewide sales standard rather than a public health measure. One supporter emphasized that retailers already comply with FDA enforcement and that inconsistent local rules create operational burdens. Opposition came from the Missouri Public Health Association and the Springfield-Greene County Health Department, which said local tobacco regulations have helped prevent youth smoking and that the bill could invite litigation over existing ordinances and limit future local public health action. Committee members raised concerns about local control, public health, and the bill’s wording, while the sponsor clarified that the bill would preempt state and local standards on the sale of tobacco products where the state has already acted, but would not require every locality to adopt a 21-year-old purchase age. An informational witness from MOST Policy Initiative described health risks associated with vaping, flavored products, and youth nicotine use. The hearing concluded without a vote, and the committee adjourned after taking all testimony.

Transcript Highlights:

• Members, property and casualty insurance companies sometimes become insolvent and are ordered to be liquidated
• 37.120> be become insolvent and are ordered to be become insolvent and are ordered to be liquidated
• <00:16:39.120> When<00:16:39.360> this liquidated by a court.
• When this liquidated by a court.

Keywords: 1183, house

Transcript Highlights:

• The third one is liquidated damages.
• c><01:19:26.400> damages assignment programs liquidated damages assignment programs liquidated
• Liquidated damages are one remedy for the MCOs that are non-compliant to their contract.
• On slide eight are the liquidated liquidated liquidated damages.<01:27:05.840> These<01:27:06.159
• > remedy<01:27:10.400> for liquidated damages are one remedy for liquidated damages are

Keywords: 928, house, all

Summary: The committee first handled roll call and approved the prior meeting minutes. Members discussed attendance and substitutions, then moved to the DHS commissioner’s update, which focused on New Hampshire’s Medicaid 1115 waiver and the new community re-entry initiative for people leaving correctional facilities. The presenter explained that the waiver lets the state cover certain services not normally covered under Medicaid, including substance use disorder treatment, serious mental illness services, adult dental benefits, and the new community re-entry component. She also noted that a separate youth re-entry component is federally required, with youth defined up to age 21 and foster-care-related coverage extending to age 26. The update described how the adult re-entry program works for incarcerated individuals with behavioral health needs, providing up to 45 days of pre-release services, care coordination with managed care organizations and DOC staff, telemedicine assessments, discharge prescriptions, insurance cards, and connections to community mental health, primary care, and substance use providers. For youth, the program includes more intensive case management, 30 days of pre-release services, and 30 days of post-release care coordination, with a stronger emphasis on screening, diagnosis, and holistic assessment. The presenter said New Hampshire received the adult waiver in July 2024, has implemented the program in state correctional facilities, and is beginning work at the youth center. Members and the presenter discussed why the program is structured as a waiver rather than a standard Medicaid benefit, with the explanation that CMS is allowing this as a newer policy area and that states generally pursue waivers for certain services. The chair and others emphasized the need for real cost and outcome data, and the presenter said an independent evaluator and evaluation plan are required under the 1115 waiver. Early results cited included 30 adults enrolled so far, 10 released, five youth enrolled with one released, and anecdotal early successes such as housing, employment, and better continuity of medication and treatment. The committee did not take any additional votes or formal actions beyond approving the minutes.

Transcript Highlights:

• So I also note on page 15 line 5 liquidated remedial damages that we have in the bill.
• So I also note on page 15 line 5 liquidated remedial damages that we have in the bill.
• Part of it’s just what happened to her and a liquidated amount of $25,000 for that.
• Part of it’s just what happened to her and a liquidated amount of $25,000 for that.
• what happened to her and a a liquidated what happened to her and a a liquidated amount<00:09:23.040

Bills: HB0003, HB0117, HB0041

Keywords: pregnancy centers, abortion, pro-life, healthcare, women's rights, state regulation, civil rights, freedom of speech, informed consent, civil liability, coercion, healthcare rights, law enforcement, death benefits, retirement, survivor support, public safety, 916, all

Transcript Highlights:

• alternative fuel to uranium that can safely power new advanced reactor designs like molten salt and liquid
• fuel to uranium that can safely power new advanced reactors or reactor designs like molten salt and liquid
• Returns, liquidity, and yield.
• Our philosophy has always been that we prioritize safety before liquidity before yield.
• They will enjoy the same safety and liquidity and good yield that they’re getting from us, which would

Bills: HB2056, HB2202, HB2207, HB2224, HB2303, HB2344, HB2532, HB2759, HB2798

Keywords: brackish water, groundwater, desalination, water resources, feasibility study, environmental impact, dementia care, telementoring, healthcare education, rural communities, grant funding, braille, disability access, education funding, state corrections, inclusion, produce incentive, agriculture, economic support, funding

Summary: The Appropriations Committee met on January 28 and heard several bills, beginning with member and staff introductions and a reminder about amendment deadlines. HB 2056 would appropriate $100,000 to the Arizona Department of Water Resources for a feasibility study of brackish groundwater desalination sites; the sponsor said Arizona should explore potential water supplies amid Colorado River concerns. A witness opposed the bill, and members debated whether brackish groundwater should be treated as a resource or a threat to aquifers. The committee approved HB 2056 on an 11-6 vote, with one member not voting. The committee then considered HB 2798, as amended, which would provide $100,000 to the University of Arizona/Arizona Geological Survey to compile data on materials related to nuclear energy, including thorium and other non-uranium fuels. The sponsor framed the bill as an economic development and national security effort, while opponents questioned whether Arizona has enough of the material to justify public spending. The University of Arizona supported the work as within the Geological Survey’s mission. The committee adopted the amendment and passed the bill 11-5, with one member present and one not voting. HB 2303 would codify investment rules for the State Treasurer, requiring safety and principal preservation ahead of return and prohibiting speculative investments and insider-benefit conduct. The Treasurer’s Office said the bill reflects current policy and ethics rules already in place, and members asked about how “speculative” would be defined and whether the bill would affect other investment-related statutes. The committee passed the bill 15-0, with two members present and one not voting. HB 2344 would require the Treasurer to manage the local government investment pool and allow a third-party backup only in emergencies; the Treasurer’s Office argued this preserves a low-cost, high-liquidity service for local governments, while some members questioned whether it limited future Treasurers’ discretion. The committee passed HB 2344 12-2, with three present and one not voting. Later, the committee heard HB 2759, which would appropriate $500,000 to the Department of Veterans’ Services to partner with an educational institution in Yavapai County for veteran programs. A retired Navy SEAL and campus veterans coordinator described emergency housing, equipment, and professional-development needs for student veterans at Embry-Riddle, while several members supported the effort and others objected to using state funds for a private institution or a county-specific program. The bill passed 11-6, with one not voting. The committee also passed HB 2207, appropriating $300,000 for the prison Braille transcription program, after testimony that the program trains inmates in a skilled trade and has had no recidivism among released participants; it passed 17-0, with one not voting. Finally, HB 2224, as amended to reduce the appropriation from $2 million to $1 million, would fund the Double Up Food Bucks produce incentive program through SNAP. Supporters said it helps families, farmers, and local economies and can improve health outcomes, while members discussed budget constraints; the committee approved the amended bill after testimony from program advocates and farmers.

Transcript Highlights:

• With power-to-liquid facilities being developed in other states like North Carolina, now is the time
• However,<00:32:18.440> power-to-liquid<00:32:19.080> is<00:32:19.200> earlier<00
• :32:19.560> in However, power-to-liquid is earlier in However, power-to-liquid is earlier in its
• With<00:32:38.960> power-to-liquid<00:32:39.600> facilities<00:32:40.160> being
• With power-to-liquid facilities being With power-to-liquid facilities being developed<00:32:40.720>

Keywords: 1187, senate, all

Transcript Highlights:

• So the only people who are currently operating right now are either very lucky or they already had liquid
• <00:09:35.120> already<00:09:36.080> were<00:09:36.240> had<00:09:36.560> liquid
• <00:09:36.960> capital or they already were had liquid capital or they already were had liquid

Keywords: 919, house, all

Summary: Senate File 4401, a cannabis bill, was presented as a broad maintenance package developed through months of work with more than 80 stakeholders, including small businesses, labor, tribal representatives, medical licensees, and the Office of Cannabis Management. The author said it makes a series of technical and policy adjustments, including support for small businesses, hemp QR codes, privacy protections, event coordinator changes, clearer product definitions, investor and timeline changes, and a bridge for hemp businesses to enter cannabis. It also addresses medical cannabis access by renaming medical combination licenses as macro licenses, eliminating the grow-and-sale ratio, correcting canopy estimates, requiring key products to be stocked, and creating a first step toward a medical psilocybin program with a report and federal funding directive. Representative West supported the bill overall but criticized the canopy reduction for medical combination licenses, arguing it changes the rules midstream and could lead to litigation and taxpayer costs. He said the bill helps social equity applicants by allowing more outside investment and described the hemp provisions as a way to save that industry. The author responded that the bill right-sizes a temporary system and reflects stakeholder agreement on needed changes. After discussion, the author again urged a green vote and thanked staff and prior cannabis workers for their help. There were no amendments at the desk, the bill was given a third reading, and the House passed Senate File 4401 by a vote of 92 ayes to 42 nays, with the title agreed to.

Transcript Highlights:

• Most U.S. exchanges use a maker-taker model, makers who add liquidity by placing limitations. orders,
• That means he provides liquidity in the market. provides both an offer to buy as well as an offer to
• The stock exchange then paid Senator Nichol $2.50 for having provided liquidity.
• of the exchange is to facilitate a transaction for which The market maker is paid for providing liquidity
• and the broker dealer who is taking liquidity pays. a fee which is then rebated to the market maker.

Bills: SB264, SB542, SB924, SB1008, SB1029, SB1036, SB1057, SB1058, SB1185, SB1202, SB1358, SB1364, SB1376, SB1569, SB1664, SB1697, SJR50

Keywords: SB 264, Texas Workers' Compensation Act, group self-insurance, self-insured groups, workers' compensation, Texas Department of Insurance, commissioner of insurance, certificate of approval, guaranty fund, trust fund, wind down, dissolution, labor code, insurance regulation, employer coverage, risk pool, business and commerce, trade workforce economic development, property owners' association, water conservation

Transcript Highlights:

• financial sector, exchanges often provide transaction rebate payments to their members to incentivize liquidity
• In market liquidity and economic efficiency.
• promote a more favorable tax environment for securities exchanges and their members, enhancing market liquidity
• stock exchanges come here to Texas, and maybe more in the future, is to ensure that we have the liquidity
• Of course, what we want is to get that liquidity we need in the market.

Bills: HB511, HB972, HB 1035, HB2481, HB2723, HB2742, HB2894, HB2962, HB3077, HB3093, HB3307, HB3684, HJR67, HJR72

Keywords: ad valorem taxation, caregiver exemption, Medicaid, long-term services, tax relief, assisted living, housing support, property tax exemption, caregiver support, residence homestead, tax exemption, unpaid caregiver, state tax code, property tax, caregiver, waiting list, intellectual disability, developmental disability, ad valorem tax, family support

Transcript Highlights:

• They would have sufficient liquidity and assets to pay their bills and function.
• They would have sufficient<00:05:00.720> liquidity<00:05:01.199> and<00:05:01.440> assets
• <00:05:01.759> to<00:05:02.000> pay sufficient liquidity and assets to pay sufficient
• liquidity and assets to pay their<00:05:02.400> bills<00:05:02.800> and<00:05:03.040><
• Um so emerge liquidation type situation.

Keywords: 958, all

Summary: The committee heard from the Department of Corrections first about Wellpath’s medical services contract and the contractor’s Chapter 11 bankruptcy. DOC officials said Wellpath’s reorganization plan was confirmed in May 2025, the contract was automatically assumed, and services have continued without lapses. They said DOC has not seen any reduction in care, staffing problems, or known impact on Kentucky operations, and that DOC and health services staff meet with Wellpath almost weekly. Members asked whether “emergence” meant discharge from bankruptcy; staff clarified that Wellpath has not yet been discharged and is still in the process of paying debts. The discussion then shifted to the Department of Juvenile Justice’s proposed high-acuity juvenile mental health treatment facility. DJJ said the facility is still in the conceptual and preliminary programming stage, with no full design funding yet and no entry into the formal A/B process with DECA. The proposed facility would have 24 beds total, split into 16 clinical beds and 8 assessment/stabilization beds, and would need to separate males and females as well as high- and low-risk youth under Senate Bill 162. Officials said the concept was developed with DJJ and CHFS mental health staff and outside design experts, and that the project was submitted in the capital plan for consideration. Members questioned the need for the facility, the estimated construction and staffing costs, and whether the state has enough youth to justify it. DJJ said the number of youth needing this level of care changes frequently, that they currently have one youth in Pennsylvania and typically send one to five youth out of state each year, and that out-of-state placement is increasingly difficult. Officials argued that a dedicated facility would reduce delays, keep youth closer to home, and avoid the need to retrofit multiple detention centers. Some members expressed concern that the projected operating costs seemed high compared with the small number of current out-of-state placements, and asked for more information on annual out-of-state spending and the number of youth who would qualify for the facility.

Transcript Highlights:

• Or what if their business income is primarily tied up in non-liquid assets?
• Should these taxpayers be forced to liquidate them, pay a capital gains tax in order to pay their new
• primarily tied up in non-liquid assets? primarily tied up in non-liquid assets?
• them, pay a capital gains tax liquidate them, pay a capital gains tax in<00:21:14.400> order<
• This bill would impose a new annual 1% tax on assets above $10 million, applied not only to liquid wealth

Keywords: 919, house, all

Summary: The committee heard presentations on two tax bills: House File 4123, by Representative Agbaje, would expand Minnesota’s net investment income tax to include certain business income, especially income from S corporations and LLCs not subject to federal self-employment taxes, while keeping the current rate and million-dollar threshold; she said it would raise an estimated $88.7 million next year. House File 4616, by Chair Gomez, would impose a 1% annual tax on fortunes above $10 million. Gomez framed the bill as a response to growing wealth inequality and argued that wealthy households and large fortunes should contribute more to public services, while Agbaje said her bill would broaden the tax base and help meet state needs. Public testimony was sharply divided. Supporters, including Nan Madden of the Minnesota Budget Project, Erica Mominee of the Minnesota Association of Professional Employees, Lauren Richards, and teacher Kristen Sinicariello, said the bills would help address wealth and income inequality and provide needed revenue for public health, education, and other public services. They pointed to federal tax cuts for high-income households, cuts to Medicaid and SNAP, and strains on state agencies and schools. Richards said small businesses already pay more than large corporations like Amazon, and Sinicariello argued that higher revenue would support classrooms and help equalize opportunity. Opponents, including Brian Cook of the Minnesota Chamber of Commerce, Dalton Danielson of the Minnesota Business Partnership, and John Beschi of NFIB Minnesota, warned that both bills would hurt business competitiveness and investment. They argued that HF 4123 would effectively create a new higher tax tier for pass-through businesses and that HF 4616 would be difficult to administer, could force sales of illiquid assets, and could discourage entrepreneurship and capital investment. No votes or final committee action were taken in the portion of the meeting provided; the committee moved through bill presentations and public testimony before member discussion.

Transcript Highlights:

• <00:50:42.480> we So we had about $5.7 million repurposed, and we had about $1.1 million liquidated
• And do you know when those allotment changes or liquidation changes took place in FY25?
• If you know you already have a shortfall at least by May of '25 and you have to pull funds and liquidate
• ><00:55:52.079> pull<00:55:52.400> funds<00:55:52.960> and<00:55:53.280> liquidate
• you have to pull funds and liquidate you have to pull funds and liquidate vacancy<00:55:54.880><

Keywords: Meeting Start 00:00:00 State Health Insurance Plans 00:00:03 Executive Branch Salary Schedule Adjustments 00:29:15 Nutrition Program for the Elderly 00:34:52 Update on DORIS 01:05:38, 958, all

Summary: The committee met on November 5, 2025, and first approved the minutes after a moment of silence for the UPS airport tragedy. The main presentation was from the Personnel Cabinet on the state health insurance plans and executive branch salary schedule adjustments. Officials said the health plan covers roughly 265,000 active members and up to about 300,000 across all benefit offerings, including school board employees, retirees, and other eligible groups. They described rising claims and expenditures, especially from high-cost claimants and pharmacy spending, and said recent premium and benefit changes were intended to balance costs while preserving recruitment and retention efforts. They also explained that employee premiums had not increased for several years, while employer contributions rose sharply in recent years, and projected a 10% employer increase and 3% employee increase going forward based on actuarial analysis. Committee members asked about deductibles, GLP-1 drug costs, claims validation, and the causes of cost growth; officials said the plan uses multiple payment-integrity vendors and that the increases reflect utilization, drug trends, and high-cost cases rather than a change in coverage. The committee also discussed executive branch salary schedule adjustments. Personnel and budget officials explained that when the legislature approves annual pay increases, the salary schedule is adjusted by the same percentage through executive order so the minimum and midpoint stay aligned with approved compensation levels. They said the 2025 adjustment was a 3% match effective September 16 and that the change was costless because salaries had already been increased. Members raised concerns about salary compression, noting that new hires can sometimes be paid near the level of long-serving employees. Officials said the adjustment helps prevent compression from worsening but does not solve it, and they acknowledged prior RFP efforts to address the issue were unsuccessful because no qualified bidder met the requirements. After the health plan and salary discussions, the committee began a presentation from the Cabinet for Health and Family Services on Kentucky’s senior meal program. Secretary Stack explained that the program is a federal-state-local partnership under the Older Americans Act, with area development districts helping deliver services. He outlined eligibility rules, noting that congregate meals at senior centers are available to people age 60 and older, with a spouse of any age allowed to join, and that home-delivered meals have additional homebound and assistance requirements. Members asked whether there was any means test for congregate meals, and the secretary said there is not; the only threshold is age for the center-based meals, while the home-delivered program has additional criteria.

Transcript Highlights:

• The qualified custodians or qualified liquidity providers will utilize secure cold storage or other forms
• To maintain fiscal flexibility, the bill permits temporary liquidation and transfer of reserve assets
• They were accepted to college, and we stopped it and put it into a liquid investment that was also non-volatile
• It limits acquisition to high-cap, high-value, high-liquidity assets.

Bills: HB565, HB3743, HB4310, HB5083, HB5129, HB5195, HB5331, HB5469, SB21, HB3185, SB 21

Keywords: constitutional amendment, fiscal impact, state budget, ballot measure, transparency in voting, management-to-staff ratio, state agencies, employee regulations, government efficiency, workforce management, public information, governing board, transparency, confidentiality, access rights, privacy, identifying information, state agency, consent, occupational license

Transcript Highlights:

• Stablecoins must be backed one-to-one with reserves of high-quality liquid assets, with carefully-designed
• transactions, or fully calibrated capital buffers and liquidity requirements.
• These assets should be quickly liquidated and paid out to these holders in an instant.
• Capital and liquidity requirements against reserve assets are a third aspect that are really, really

Keywords: Digital Assets, Bitcoin, Stablecoins, Legislation, Bipartisan, Consumer Protection, Regulatory Framework, Financial Innovation, Testimony

Summary: The inaugural meeting of the Digital Assets Subcommittee brought a wave of excitement and anticipation regarding the future of digital assets, including Bitcoin and stablecoins. Chair Lummis expressed gratitude towards Senator Scott for establishing the subcommittee, indicating a commitment to promote responsible innovation while safeguarding consumers. Members discussed the necessity for a bipartisan legislative framework to regulate digital asset markets effectively while outlining the potential benefits such legislation could have on enhancing financial inclusion and streamlining payments. The meeting featured expert testimonies from key figures in the digital asset industry, highlighting the importance of creating clear regulatory guidance for digital assets to foster innovation without compromising consumer protections.