Transcript Highlights:

• The tax rule, the first tax rule, is to promulgate a legislative rule relating to the valuation of timberland
• The next rule is also the Tax Department to promulgate a legislative rule relating to the valuation of
• Further language is added detailing valuation determinations when a high-impact data center or power
• The Tax Department to promulgate a legislative rule relating to the valuation of public utility property
• Further language is added detailing valuation determinations when a high-impact data center or power

Keywords: 994, senate, all

Summary: The Senate Finance Committee met with a quorum present, approved the prior meeting minutes, and then considered a series of House bills and committee substitutes. House Bill 5438, dealing with changes to Step 7 of the school aid formula and allowable uses of certain education allocations, was amended to adopt the Education Committee’s changes and then reported to the full Senate. House Bill 4087 creating the West Virginia-Ireland Education Alliance was also reported, as was House Bill 4191, which expands child care tax credit eligibility for employer-sponsored facilities and changes subsidy payments from attendance-based to enrollment-based reimbursement; senators emphasized its workforce and economic development benefits. House Bill 5074, which reallocates medical cannabis fund balances and future revenues, was amended to increase the Child Protective Commission pilot funding from $3 million to $5 million and remove proposed ibogaine research funding for Marshall and WVU before being reported. House Bill 5353, regulating virtual currency kiosks and money transmission licensure, and House Bill 5527, creating licensure and oversight for wellness reimbursement program administrators, both received strike-and-insert amendments and were reported. House Bill 5687, which phases down the metallurgical coal severance tax and adds a temporary oil and gas tax reduction with county/municipal revenue adjustments, was amended and reported. House Bill 4418, creating an electronic system for municipal business and occupation tax filing and collection with a 1% administrative fee and a participation threshold, was also reported. The committee then took up House Bill 4245, the Revenue Rules Bundle, which bundles 26 legislative rules from the Department of Revenue and related agencies. The bundle included alcohol, banking, insurance, racing, and tax rules, with several sunset extensions and repeals of outdated rules; the committee adopted a strike-and-insert amendment affecting a lottery consumer protection rule and a pre-need cemetery company rule, then reported the bill. House Bill 5168, providing a $12 million lottery-funded stream for emergency medical services, was amended to clarify the uses of the funds, rename one fund, require a 30% county match for mental health treatment spending, and create two additional county-based EMS funds; senators described it as a needed permanent funding source for EMS, and it was reported. Throughout the meeting, members generally supported the measures, with some discussion on technical details, funding allocations, and the impact of the bills on local services and workforce needs. At the end of the meeting, the chair announced that Senate House Bills 4004, 4006, and 4009 would not be taken up that day, and the committee adjourned.

Transcript Highlights:

• Unfunded liability as of our last valuation, which was June 30, 2024, we have not yet completed the 2025
• valuation.
• So this is just, so your current actuarial valuation.
• This valuation does have an explicit assumption for that, which is a standard that we all actually meet
• That's our current valuation. That's as of June 30, 2024.

Transcript Highlights:

• You know, so you've got a valuation increase, and it doesn't seem to be, it seems to be high price, but
• Valuations, you know, with this drawdown, the hidden benefit of that is the market valuations are starting
• So when I'm showing you 21 times for the forward P/E on the S&P 500, that's a valuation measure.
• That's kind of a valuation measure. If you take earnings, times...
• Earnings, you know, the price to the earnings, and that's kind of a valuation measure.

Keywords: 908, all

Transcript Highlights:

• So this grant is looking at the equalized valuation per FNR pupil, and so it's property over poverty,
• So this grant is looking at the equalized valuation per FNR pupil, and so it's property over poverty,
• So this grant is looking at the equalized valuation per FNR pupil, and so it's property over poverty,
• Um, if that number is under 1.64 million, you get an equalized valuation...
• that's measured as equalized valuation that's measured as equalized valuation per<01:03:49.920><

Keywords: 928, house, all

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.

Transcript Highlights:

• House Bill 3093, relative to the electronic filing of certain forms used in property valuation.
• An act relative to the electronic filing of certain forms used in property valuation.
• An act relative to the electronic filing of certain forms used in property valuation.

Keywords: 995, all

Summary: The House took up several procedural orders from the Committee on Rules extending reporting deadlines for the Education, Mental Health/Substance Use/Recovery, and Revenue committees, and each order was adopted after suspension of the rules. The chamber also suspended Joint Rule 12 to allow several petitions to be referred, including measures on consumer-connected devices, a trail designation in Groton, beach and habitat management, genetic discrimination in insurance, and antitrust enforcement. The Committee on Steering, Policy and Scheduling reported a slate of bills for House consideration, including measures on Taunton water billing, public insurance adjusters, electronic filing for property valuation forms, tax payment interest rates, local property tax exemptions in Milton and Marblehead, a tax exemption for the surviving spouse of a Rentham deputy chief, and West Tisbury’s affordable housing trust fund. The House ordered these bills to a third reading after suspending Rule 7A. The House then passed several engrossed bills to be enacted, including local measures on Boston police age waivers, Bridgewater town council stipends and town manager procedures, and a Cambridge employment and job training trust. Later, the House concurred in a Senate amendment to the Rockland charter bill, passed a Wellesley property tax deferral bill and a Harrell police civil service age-waiver bill to be engrossed, and adopted an order to meet again Wednesday at 11 a.m. before adjourning.

Transcript Highlights:

• with you last month, looking ahead to June, there will be an actuarial presentation on the latest valuation
• But like Michael said, there's just one item penciled in for June: the preliminary 2025 actuarial valuation
• Yeah, I see that we have only the item preliminary 2025 actuarial valuation review results.
• The valuations tend to be a little bit more lengthy because there is a lot to go over.

Keywords: 904, all

Summary: The Executive Committee approved the April minutes by roll call vote, with members present voting aye and the minutes adopted. Staff then provided an Attorney General update on pension-related litigation, including the newly filed Dawson class action challenging Gross Second Substitute House Bill 2034, the concluded Dolan case, and the Fowler case, where the trial court orally ruled for plaintiffs on interest calculations and potential disgorgement of state gains, with a written ruling still pending. Committee members emphasized the need for ongoing monitoring and regular reporting on the Dawson case because of its potential impact on the committee and retirement systems. An actuarial update followed, noting that June will include the preliminary 2025 valuation results and contribution-rate information, along with commentary on the demographic experience study. Staff said actuarial resources are limited and asked that any additional actuarial agenda items be scheduled for July or later. The committee also discussed the draft interim work plan and agreed to move the OSA annual update to July. A substantial portion of the meeting focused on Plan 1 COLA policy. Retiree representatives urged the committee to keep working on both immediate ad hoc COLA relief and a longer-term ongoing COLA solution. Members discussed a possible budget proviso requiring legislators to consider a COLA each budget cycle, and staff was asked to develop proposals for further discussion. The committee also agreed to add a June briefing on the PERS/PEACERS request involving animal control technicians, and to include an introductory Plan 3 briefing, with possible comparison to Plan 2, on the June agenda. Staff also explained changes to correspondence handling, including removing letters from the public website to better protect privacy while still making records available upon request. The committee approved the revised June agenda and adjourned.

Transcript Highlights:

• According to the valuation, that was, I think, it was 40 or 47 years.
• And the valuation that GRS provided, that was their metric. Yes. Thank you.
• It will be at 21 years or less this next valuation, but as of last year we went from four years ago to
• Yet they were making money on the other side, so those valuations went up more than we expected.
• There were years when those valuations at the portfolio level were up 50%.

Transcript Highlights:

• new section to Chapter 57-02 of the North Dakota Century Code, relating to limitations on taxable valuation
• This bill limits taxable valuation increases of a property to not more than 3% per year of the prior
• This bill limits taxable valuation increases of a property to not more than 3% per year of the prior
• year's valuation, unless a ballot measure to increase. of the prior year's valuation, unless a ballot
• And House Bill 1176 that we passed earlier has a 3% cap on levies instead of valuation.

Keywords: 908, all

Summary: The Senate met with a quorum present and handled a mix of conference committee appointments, appropriations bills, policy bills, and House amendments. Early in the session, the chamber appointed conference committees for SB 2399 and for House-amended SBs 2213 and 2354, and also named conference committees for HB 103, HB 1308, and HB 1169. The Senate then took up several appropriations measures, including HB 1612, which creates the North Dakota Center for Aerospace Medicine at UND; the Senate adopted an amendment shifting the funding to a one-time $250,000 Community Health Trust Fund appropriation with a required $250,000 match from other sources, and the bill passed 39-7. HB 1193, the “Back the Blue” grant, was amended to make the funding one-time and focus on officer retention, then passed 41-5. HB 1329, a government spending database proposal for school districts, was amended into a legislative study and passed 42-4. HB 1020, the water budget, received extensive amendments reducing and reallocating funding across major water projects, adding studies and oversight changes, and passed 45-0 with the emergency clause. HB 1581, a tribal tourism grant, also passed 40-6. The Senate rejected HB 1330, which would have authorized divestment from direct investments in Chinese companies; after debate over the prudent investor rule, trade impacts, and whether the bill singled out one nation in law, it failed 20-26. HB 1534, limiting property valuation increases, and HB 1266, adjusting the disabled veterans property tax credit, both failed unanimously or nearly so after committee recommendations against them. HB 1566, which would have created a regulatory framework for a product discussed as kratom, was amended on the floor to convert it into a study and then passed 31-15. The chamber also passed HB 2241 on charter schools after a House amendment changed the funding formula to the statewide average from the prior year, and HB 2022, the indigent legal counsel budget, after House changes added funding flexibility, offset lost fee revenue, and included a study on a public defender office. The Senate concurred in several House amendments and then passed a number of Senate bills. SB 2375, allowing joint negotiations between dental providers and insurers under Attorney General oversight, passed 44-2. SB 2251, clarifying that open records requests during state audits should be referred to the audited agency, passed 46-0. SB 2159, related to nuclear energy research, passed 43-3 after House amendments required Industrial Commission approval and consultation with the radioactive waste advisory council. SB 2155, changing gratis antelope license rules, passed 30-16 after debate over landowner rights and tag distribution. SB 251, setting fees and an audit for the Private Investigative and Security Board, passed 44-2. SB 2280, the prior authorization health insurance bill, passed 43-3 with a House-added study and consumer protections. SB 2023, the Racing Commission budget, passed 41-5 after a House change made internship funding one-time. SB 2232, changing prenatal substance exposure reporting requirements and related toxicology rules, passed 44-2. SB 2241, authorizing public charter schools, passed 39-7. The session ended while the Senate was still processing SB 2022’s final passage vote, but the bill had already cleared concurrence on House amendments.

Transcript Highlights:

• So, I mean, so is it fair to say that the, the loss in, in, uh, real property valuation, sort of because
• including road and bridge, INS, and maintenance and operations, is right at 46 cents per $100 of valuation
• The tax rate on last year's, uh, valuation when it comes to the, the business personal property tax,
• If we did it one, a one-year lag and set the valuation so that the protests would be minimized, uh, that
• would be one suggestion that we would continue to offer is to do it one year, look back, set the valuation

Bills: HB8, HB9, HJR1, HB 22

Keywords: HB 8, Texas public school accountability, school accountability, public school transparency, STAAR, state assessments, instructionally supportive assessment program, Student Success Tool, Texas Education Agency, TEA, accountability ratings, A-F ratings, through-year assessment, benchmark testing, norm-referenced assessment, college career military readiness, CCMR, local accountability plan, school district performance, campus turnaround

Transcript Highlights:

• requires a report to be provided by the county auditor reporting each taxing district’s property valuation
• And so even though their valuation grew enough to make them eligible, because they weren't at that 60
• It was the change in valuation from the estimate to the actual.
• That was not an approved reason to get gap funding because of that change in valuation.
• So next year they can actually go up 4% if their valuation allows that, if the increase in their valuation

Keywords: 908, all

Transcript Highlights:

• <00:14:23.440> And<00:14:23.680> so<00:14:24.079> they're also the valuation
• And so they're also the valuation.
• So we do full funding valuations every other year. So our most recent was in 2023.
• <00:18:45.679> So,<00:18:45.919> our valuations every other year.
• So, our valuations every other year.

Keywords: Meeting Start: 00:00:01 Attendance Roll Call: 00:01:26 Approval of Minutes: 00:02:27 Investment, Cash Flow, and Legislative Update: Bo Cracraft – Judicial Form Retirement System: 00:03:12 Ryan Barrow – Kentucky Public Pensions Authority: 00:21:52 Beau Barnes – Teachers’ Retirement System: 00:34:31 Adjournment: 01:07:25, 958, all

Summary: The meeting opened with the Pledge of Allegiance and prayer, followed by a roll call confirming a quorum and approval of the prior minutes. A special guest, Dave Eager, was welcomed before the committee moved to presentations from retirement system officials. Bo Craycraft, executive director of the Judicial Form Retirement System, gave a quarterly update on investment performance, asset allocation, and cash flow. He said the plans had held up well amid market volatility, with fiscal year-to-date returns above benchmark and long-term returns remaining strong. He explained that the plans are targeted to a 70% equity/30% fixed-income allocation, that some cash is being held for cash-flow management, and that negative cash flow is expected because of funding and contribution levels. He also said Senate Bill 183, dealing with proxy voting and economic analysis for certain votes, was not expected to materially affect the plans because of their small number of holdings and Bear Trust’s long-term investment approach. Ryan Barrow and Erin Surrod then presented for the Kentucky Pension Authority. They reported positive quarterly performance across the retirement and insurance funds, though results varied by period and remained tied to broader market conditions. They said recent asset-allocation changes had been completed and the funds were now within target ranges. On cash flow, they noted some plans remained negative or near zero, with one plan benefiting from a large appropriation. In the legislative update, they described House Bill 30 as codifying an exclusion from pension-spiking calculations for across-the-board raises, and Senate Bill 10 as increasing retiree health insurance subsidies and changing employee health insurance contribution rules for certain CERS members beginning in 2026. They also said Senate Bill 183 would likely have limited impact, though the agency would review voting policies and incorporate any required economic-analysis procedures.

Transcript Highlights:

• typical land valuation. typical land valuation.
• . valuation. valuation.
• That's all just part of the valuation of the property. >> Right. Okay.
• That's the way That's the way valuation.
• part of the valuation of the property. part of the valuation of the property. >> Right.

Keywords: 1189, house, all

Summary: The meeting opened with a quorum present and approval of the April 17 minutes. The commission then heard a presentation from attorney Jacob Rhodes of Cleveland, Waters and Bass on the history and legal basis of New Hampshire’s timber tax, explaining that timber was historically treated as part of real property, that a 1913 case confirmed that view, and that a 1949 constitutional amendment created a separate timber yield tax to discourage clear-cutting and support forest conservation. He described the tax as a tax on the yield when timber is severed, not an income tax, and noted that towns are reimbursed through a system based on Department of Revenue Administration market data and local reports of cut. Members and guests asked how “yield” is defined, how the timber tax interacts with current use, and whether carbon sequestration could be treated similarly. Testimony explained that current use generally is not affected by harvesting timber, that towns can tax standing timber under RSA 79:5 but rarely do because it is labor-intensive, and that carbon credits might be valued using a similar market-data approach. Several speakers discussed a prior bill drafted with DRA input that would have treated carbon more like timber, but noted it never fully advanced in the General Court and that the version ultimately discussed by the House differed from the earlier DRA-comfortable draft. The discussion also covered whether carbon sequestration agreements are effectively long-term leases or transfers of timber rights, with Rhodes suggesting that 99-year arrangements could be taxable transfers of real property under DRA rules, though he had not reviewed specific agreements. DRA staff said they do not currently have a timber-like survey mechanism for carbon and would likely need access to proprietary market data or a subscription service to build one. No formal vote was taken beyond approving the minutes; the commission appeared to agree to revisit the carbon/timber valuation issue and the draft bill at a future meeting.

Transcript Highlights:

• Yeah, so per is already there, so we've got $1,000 tax rate, $1,000 equalized valuation.
• Right. impact number per $11,000 of equalized impact number per $11,000 of equalized valuation<00:21:
• which is how your tax rate set valuation which is how your tax rate set yeah<00:21:51.120> so
• <00:22:01.520> her<00:22:01.840> $1,000<00:22:02.840> of equalized valuation
• her $1,000 of equalized valuation her $1,000 of equalized<00:22:03.880> valuation right All right

Keywords: 1191, senate, all

Transcript Highlights:

• So Tier 2's population requires a $13 million pre-funding but has a true valuation of actuarial impact
• of about... ...million dollar pre-funding but has a true valuation of actuarial impact of about $64
• where there would be no variation in that calculation. million dollar pre-funding but has a true valuation
• I think that is why I was asked to run the second valuation, to allow for payment over time.
• You would have the valuation, like which was mentioned, taking us from about 101% funded down to 89.3%

Bills: SB1046, SB1317, SB1376, SB1416, SB1448, SB1471, SB1493, SB1498, SB1502, SB1504, SB1538, SB1544, SB1550, SB1579, SB1581, SB1584, SB1624, SB1673

Keywords: telecommunications, broadband, internet infrastructure, critical infrastructure, cybersecurity, national security, foreign adversary, China, Chinese equipment, supply chain security, network equipment, microchips, Arizona Corporation Commission, telecommunications provider, communications infrastructure, Huawei, ZTE, state-owned enterprise, sanctions, infrastructure security

Summary: The committee first approved its February 4 minutes and announced several bills would be held, including SB 1317, SB 1416, SB 1419, SB 1490, and SB 1493. It then heard SB 1579, which would appropriate about $4.7 million from the state general fund to expand a law enforcement data-sharing pilot through the Department of Administration, with funds for DPS, county sheriffs, university police, and city/town police departments. Testimony from the sponsor, Flagstaff’s mayor, Eloy’s police chief, and Maricopa County Sheriff’s Office staff emphasized faster records access, better coordination, and officer safety; an amendment added $125,900 for the Scottsdale Police Department after it had been omitted. The committee adopted the amendment and gave SB 1579 a do pass recommendation by a 6-0 vote with one not voting. The committee next considered SB 1581, which appropriates about $1.4 million from the Peace Officer Training Equipment Fund for pepperball equipment and about $1.316 million for public safety training simulators, with an amendment increasing the Nogales Police Department’s pepperball allocation and expanding simulator funding so Yavapai County could buy two simulators with a three-year warranty. Supporters from Navajo County, Phoenix, Glendale, Flagstaff, and Cochise County described pepperball as a de-escalation tool and simulators as important for crisis-response and use-of-force training. The committee adopted the amendment and passed SB 1581 as amended on a 7-0 vote. SB 1673 was heard next and would appropriate $8.2 million from the general fund to the Law Enforcement Crime Victim Notification Fund, exempting the appropriation from lapsing. The sponsor and law enforcement witnesses said the automated notification system has improved victim communication, reduced workload, and sent millions of updates; committee members asked about funding sources and why a bill is needed for a constitutionally mandated program. The committee approved SB 1673 without amendment on a 7-0 vote. The committee also heard SB 1544, which would make adult probation records public on request, while requiring redaction or withholding of sensitive information such as victim data, minors’ information, medical or counseling records, active investigations, and confidential informants, and creating a process for written denials and court appeals. The sponsor said the bill is intended to increase transparency and data access, while witnesses raised concerns about risk-assessment language and confidential information; the sponsor said amendments would be brought later to clarify those provisions. The committee passed SB 1544 on a 4-3 vote. Finally, SB 1376, creating a civic leadership development special plate and fund for a youth mentoring nonprofit, passed unanimously, and SB 1550, a three-year Queen Creek pilot program to prevent runaway youth exploitation and improve investigations, also passed after testimony from Queen Creek officials and police; one senator voted no, citing concerns about how runaway youth are treated in other legislation. The committee then began hearing SB 1504, a pension bill modifying retirement dates and COLA timing for Tier 2 and Tier 3 public safety personnel, with supporters arguing it would improve recruitment and retention and opponents warning it would create significant unfunded liabilities, but the transcript cuts off before final action on that bill.

Transcript Highlights:

• In 2019, 728D, which governs the valuation of electric, gas, and water, was modified.
• So you really wouldn't get a reasonable valuation.
• reasonable valuation. reasonable valuation.
• time width times an average valuation. time width times an average valuation.
• Um it's valuation of this right of way.

Keywords: 1189, house, all

Transcript Highlights:

• The valuation of the house would still be the same. Yes, sir. >> So, Mr.
• is still the bottom line but the tax is still the same.<00:03:50.319> The<00:03:50.640> valuation
• The valuation of the house would same.
• The valuation of the house would still<00:03:52.319> be<00:03:52.480> the<00:03:52.720>

Keywords: 916, all

Summary: The joint conference committee on House Bill 45 met to reconcile changes to the long-term homeowner property tax exemption. Members reviewed the original bill, which removed the exemption’s sunset, adjusted the signup/reporting date and procedures, clarified treatment for homeowners who sold one house and bought another, changed valuation language from assessed value to fair market value, and added a $3 million cap. The committee also discussed Senate amendments and a proposed cleanup amendment intended to prevent stacking the long-term homeowner exemption with a separate voter-approved homeowners’ property tax initiative if that initiative becomes law. Members asked about the difference between using “shall not qualify” versus a repealer, and were told the repealer was removed to avoid creating a trigger-bill issue if the initiative does not pass. Questions also focused on whether the catch title’s “limitation” language referred to the $3 million cap, and it was explained that the language could apply both to the cap and to the restriction on using both exemptions. One senator asked what Senate language was being deleted, and the response was that the committee was removing language that had gone too far, including a 25% exemption provision that was outside the scope of this bill and would be handled later in the interim. After discussion, the committee moved to concurrence. A roll call vote was taken, and all six members present voted aye. The committee announced concurrence and adjourned.

Transcript Highlights:

• share, the ability to benefit from economies of scale, and then exit the investment for a higher valuation
• c><00:04:40.639> higher exit the investment for a higher exit the investment for a higher valuation
• > Theoretically,<00:04:42.880> PE<00:04:43.280> firms<00:04:43.680> can valuation
• Theoretically, PE firms can valuation.

Keywords: 1183, house

Summary: The committee took up two bills concerning health entity ownership and heard invited testimony before acting on them. Dr. Yasha Singh of Brown University testified about private equity in healthcare, describing how PE firms use debt-financed acquisitions, short investment horizons, and roll-up strategies that can avoid disclosure requirements. He said the lack of transparency makes it difficult to track ownership and outcomes, and cited research linking PE ownership to higher costs in outpatient care, more ancillary service use, workforce turnover, and worse outcomes in hospitals and nursing homes. He also noted Minnesota-specific concerns, including PE involvement in opioid treatment programs, and said the policy challenge is balancing needed capital investment with protections for patients and workers. Sam Brooks of the National Consumer Voice for Quality Long-Term Care testified in strong support of the legislation, focusing on nursing homes. He argued that private equity ownership is associated with worse resident outcomes, including higher mortality, more pressure ulcers, more hospitalizations, and more deficiencies, and said leverage buyouts divert money from staffing and care into debt service, management fees, and lease-back arrangements. Brooks said staffing levels and quality ratings decline under PE ownership and pointed to recent bankruptcies as examples of instability. He said the bills would add safeguards such as transparency, attorney general approval of acquisitions, and requirements that a large share of public funds go to direct resident care. The testimony framed the bills as responses to concerns about private equity ownership in healthcare and long-term care, especially the effects on quality, staffing, and financial stability. No vote or final committee action was described in the excerpt.

Transcript Highlights:

• financial aid for students, and to develop recommendations on alternative methods for verifying valuations
• to at least the early nineties, with the common view that the PBS punishes school districts for valuations
• alternative efficiencies must be gained while maintaining the goal of ensuring accurate and fair valuations
• . equitable valuations.

Keywords: 1185, senate, all

Transcript Highlights:

• That would be the maximum amount that it could go up in the assessed valuation every year.
• President, I don't see anything that changes the senior valuation freeze.
• I'm looking at the actual 2026 property valuation limitation county by county.
• The increase in valuation still gives counties and schools and everybody else the opportunity to have
• Over time, this simply slows down the increases in the assessed valuation of the property.

Bills: SJR50, SJR51, SJR52, SJR53, SJR54, SJR39, SB1290, HB4028, HB4029, HB4073, HB4074, HB4075, HB4076, HB4077, HB4078, HB1250, HB2951, HB2961, HB3151, HB3581, HB3705, HB3970, HB3972, HB3980, HB3981

Keywords: Medicaid, federal funding, state law, healthcare, low-income adults, Oklahoma Constitution, healthcare regulations, Oklahoma Health Care Authority, permanent rules, joint resolution, OHCA, health care rules, administrative rules, major rule, Title 75, Title 317, Oklahoma Administrative Code, OAC 317:30, health policy, state health programs

Transcript Highlights:

• in it, but investing means that there's people trading back and forth, you know, so you've got a valuation
• investments in this year, and then each return going forward, you might have a recession, and the valuation
• Valuations, you know, with this drawdown, the hidden benefit of that is the market valuations are starting
• So when I'm showing you 21 times for the forward P/E on the S&P 500, that's a valuation measure.
• That's kind of a valuation measure.

Summary: The committee met to approve prior minutes and receive updates on the Legacy Fund transparency website and fund performance. Staff reported the website procurement was in contract negotiations, with a planned go-live around November 1, and that the site would provide downloadable, more transparent information on fund holdings, allocations, history, and legislative appropriations while protecting confidential data. The investment office then reviewed performance through January 2026, describing strong returns relative to benchmarks, noting real estate and fixed income as weaker areas, and explaining that the fund’s diversification and internal management had helped offset market volatility, including recent geopolitical impacts. Members also discussed the in-state investment program, especially the Bank of North Dakota’s CD-match allocation. Several members questioned whether the program had been static for years and whether the uncommitted balance should remain parked there if it was not being used. The committee voted to pause further transfers into the program until the Bank provides a report and the committee can consider possible statutory changes; the motion also requested a cost-benefit analysis from RVK, and it passed by roll call vote. In the afternoon, RVK presented its review of the investment policy statement as it relates to the in-state investment program. The consultant said it found no major policy impediments, and that implementers and stakeholders generally felt the program was proceeding as intended. RVK emphasized best practices such as third-party due diligence, competitive risk-adjusted returns, diversification, pacing, and exit strategies, while cautioning that required lower-return investments or spending commitments can create pressure on the fund’s long-term real value. The consultant also raised ancillary concerns about state-level concentration risk, the need to distinguish between public and commercial infrastructure, and the lack of a central repository for all state funding commitments to the same projects.