Transcript Highlights:

• The free or reduced reimbursement rate that you are likely familiar with...
• Given our high rates of CEP participation due to high rates of students who participate in these programs
• Participation rates are now higher than the national average.
• and the free meal rate.
• Chair, those are federal reimbursement rates. Thank you, Mr. Chair, and thank you for that.

Transcript Highlights:

• Our highest rating this cycle is 97.438%.
• Currently, there are 23 poor performance ratings and 32 marginal performance ratings.
• We have 102 satisfactory performance ratings."
• Our response rate... Districts that receive FMARs is 25%.
• We want to encourage 80% statewide performance ratings.

Committee: House Public School Capital Outlay Oversight Task Force

Transcript Highlights:

• That one also has a very high rate. It has a 30% error rate.
• It has a 3030 has a very high rate. It has a 3030 error<01:20:38.159><c> rate.
• Error rates are low on that one. It’s a 1.84 error rate year-to-date. Last year it was 1.5.
• But that you said was not included in the error rate. So then what is included in the error rate?
• </c> that 84.6 error rate. that 84.6 error rate. &gt;&gt; Correct.<01:29:37.280><c> Okay.

Committee: Joint Health Services

Keywords: 958, all

Transcript Highlights:

• are projected to go up Donald rates are projected to go up Donald Trump<00:04:27.400><c> is</c><00:04
• </c><00:05:09.320><c> they're</c> governor noted um at the rate they're governor noted um at the rate
• So certainly we have to look at government programs where the rate of growth is higher than the rate
• </c><00:09:37.880><c> of</c> government programs where the rate of government programs where the rate
• </c><00:09:39.560><c> of</c> growth is higher than the rate of growth is higher than the rate of inflation

Keywords: 1183, house

Transcript Highlights:

• by the federal government, including free, reduced, and paid rates.
• , which is challenging because the federal government sets those rates every July.
• The federal government sets those reimbursement rates every July.
• Their participation rate, those are already CEP or provision to schools.
• So obviously, we're going to expect a higher participation rate.

Summary: The Legislative Management Committee met to address the fiscal impact of Initiated Constitutional Measure No. 3, which would require public schools, public school districts, and public charter schools to provide breakfast and lunch at no cost to students and allow reimbursement from the state, with implementation beginning in the 2027-28 school year. The committee first filled a vacancy created by Representative Jared Hagert’s resignation by appointing Representative Berg to the committee. Legislative Council and DPI staff explained the measure’s requirements, including federal reimbursement participation, possible use of the legacy earnings fund if other funding is unavailable, and the authority of the Legislature and superintendent of public instruction to clarify implementation details. Linnell Johnson of DPI testified that the estimated fiscal impact for the 2027-2029 biennium is between $124 million and $134 million, based on participation assumptions, federal reimbursement rates, and the extent to which schools continue to collect applications or use community eligibility/provision 2 options. She also noted a likely additional administrative cost of about $300,000 for DPI to operate the program. Members asked about school participation, Title I implications, special diets, staffing, and whether the measure could reduce federal reimbursements if families stop applying. Johnson said the estimate is uncertain and could be higher if applications decline, but that schools would still have incentives to participate in federal programs because of reimbursement and other funding ties. After discussion, the committee adopted a motion to report a fiscal impact range of $124,300,000 to $134,300,000 per biennium to the Secretary of State. The committee then received an informational update from Legislative Council attorney Dustin Richard on the ongoing redistricting litigation. He explained that the U.S. Supreme Court vacated the Eighth Circuit’s ruling and sent the case back for reconsideration in light of Louisiana v. Callais, while the district court-imposed map remains in effect for now. No action was taken on that update, and the meeting adjourned after members noted minutes from the prior meeting were not yet available for approval.

Transcript Highlights:

• There's a— Free rate, a reduced rate, and then a paid rate.
• What would the participation rate be?
• Their participation rate— Their participation rate is not going to increase because they already don't
• So obviously, we're going to expect a higher participation rate.
• So obviously, we're going to expect a higher participation rate.

Committee: Joint Legislative Management

Summary: The Legislative Management Committee met to fill a vacancy created by Representative Jared Hagert’s resignation, and the House majority recommended Representative Berg to replace him on the committee. The motion to appoint Berg was approved unanimously. The committee then took up its assigned task of estimating the fiscal impact of Initiated Constitutional Measure No. 3, the school meals measure, which would require public schools, and optionally nonpublic and tribal schools, to provide breakfast and lunch at no cost to students and reimburse schools through state funds after federal reimbursements are maximized. Legislative Council’s Liz Fordall summarized the measure’s requirements and answered questions about implementation, including the 2027-28 start date, the measure’s interaction with the Legacy Earnings Fund, and the fact that the Legislature would still control the funding source. DPI’s Linnell Johnson then testified at length on current school meal programs, direct certification, CEP and Provision 2 participation, and likely behavioral changes if the measure passed. She estimated the biennial fiscal impact at $124 million to $134 million, with an additional roughly $300,000 in administrative costs, and explained that the estimate assumed higher participation and some schools shifting to CEP/Provision 2 to preserve federal reimbursements. She also noted that if no new applications were filed in non-CEP schools, the cost could be substantially higher. After discussion, Senator Sorvaag moved to report a fiscal impact range of $124,300,000 to $134,300,000 per biennium to the Secretary of State, and the motion carried. The committee also received an informational update from Legislative Council attorney Dustin Richard on the ongoing redistricting litigation, explaining that the U.S. Supreme Court vacated the Eighth Circuit’s prior ruling and remanded the case for further consideration in light of Louisiana v. Callais, leaving the court-imposed map in effect for now. No action was required on that item, and the meeting adjourned after a brief note that the prior minutes would be brought back at a later meeting.

Transcript Highlights:

• The fact is the average residential electric rate in our Commonwealth has surged by 41 percent since
• For example, this amendment would end the low-income discount rate funding source during peak hours.
• For example, this amendment would end the low-income discount rate funding source during peak hours,
• electric rates and to provide...” “...for the newly established electric rates task force to scrutinize
• Not one was defined. $342 million in construction sat in the base rate, unitemized.

Summary: The House opened with routine formalities and then adopted a resolution recognizing the work of Ukraine Forward after suspending the rules. Members also suspended Joint Rule 12 to allow several petitions to proceed, including proposals related to a poverty-reduction grant program, an unemployment insurance study commission, and a local police-exam age waiver. The House then took up a major energy bill, House No. 4744/5151, reported by Ways and Means and scheduled by Steering, Policy and Scheduling, and advanced it through second reading and to third reading after adopting the committee amendment. The main floor debate centered on the energy affordability, clean power, and economic competitiveness bill. Supporters argued it would lower rates through reforms to Mass Save, changes to procurement and interconnection, returning a share of alternative compliance payments to ratepayers, and other consumer protections, while preserving long-term clean energy goals. Opponents said the bill’s relief was too delayed and that it added costs and bureaucracy without immediate help for households facing high bills. Several amendments were offered and rejected, including proposals to suspend public benefit charges for a year, change utility rate-filing disclosure rules, and alter propane delivery protections; one amendment on solar siting in forested areas was also defeated. The House adopted a consolidated amendment to the energy bill by a roll call vote of 127-27, and earlier adopted the Ways and Means substitute version of the bill. The chamber also passed several other bills to be engrossed or enacted, including measures on unemployment insurance for fluctuating schedules, the Medical Society mission statement, a youth training wage, bridge and intersection designations, handicapped parking fines, public way safety, excavation restoration, and a Newton police age requirement. The House observed multiple moments of silence honoring deceased veterans, public servants, and community figures, including Navy Petty Officer Joden Booker, coach Thomas Skip Karam, former Police Chief Carlton Abbott, and former legislator William Q. Biff McLean, Jr.

Transcript Highlights:

• alone, loss rates are the highest in the country.
• alone, loss rates are the highest in the country.
• In 10 years, rates were down for doctors and hospitals by 35%.
• Rates have stabilized and are trending downwards. Your work is working.
• In fact, what we're hearing is rates are rising and rising and rising and rising.

Summary: The Judiciary Committee met to consider HB 6003, a bill to repeal Florida’s “free kill” law that limits certain survivors’ ability to recover non-economic damages in medical negligence wrongful death cases. The sponsor, Rep. Trabulsy, said the bill would restore access to the courts for a small class of families and noted the measure passed both chambers last year before being vetoed by the governor. She and supporters framed the bill as a fairness and constitutional issue, while opponents argued repeal would increase malpractice exposure, insurance costs, and pressure on physician access, especially in high-risk specialties and rural areas. Public testimony was sharply divided. Supporters included family members who described deaths they said were caused by medical negligence and who argued the current law denies accountability and equal treatment based on marital status or whether a decedent had minor children. Opponents included the Florida Hospital Association, Florida Medical Association, Florida Chamber, U.S. Chamber, Florida Insurance Council, and other health care and business groups, who warned that repeal could worsen already high malpractice premiums, contribute to physician shortages, and destabilize access to care. Several speakers on both sides discussed possible caps on non-economic damages as a compromise, though the bill itself was presented as a clean repealer with no amendments. During debate, several members spoke in support, emphasizing equal access to the courts and rejecting the idea that the law should treat some families differently from others. Opponents of the bill argued that the current system helps preserve market stability and that liability concerns, not the free kill law, are driving provider departures. After closing remarks from the sponsor, the committee voted 15 yeas and 1 nay to report HB 6003 favorably.

Transcript Highlights:

• First of all, sections 1 through 7 establish a reimbursement rate for a limited annual number of required
• </c> through 7 establish a reimbursement rate through 7 establish a reimbursement rate for<00:04:43.400
• services so that the rates are a bit closer to the cost of providing care.
• services so that the rates are a bit closer to the cost of providing care.
• </c> some additional there's a blank rate some additional there's a blank rate increase<00:21:14.240>

Keywords: 1183, house

Transcript Highlights:

• Chairman, the provider rates, you know, 4%, maybe reducing those to 3% or 2%.
• And he doesn't want our triple-A bond rating to be affected.
• And the reserves that we have is a big impact on why our bond rating is so high.
• The provider rate is $7.56 per 15 minutes, which is about $29 an hour.
• rate that we're returning.

Summary: The House Health and Welfare Committee approved the February 2, 2026 minutes and then introduced RS 33180, the Prior Authorization Reform Act, sponsored by Representative Wheeler. Wheeler said the bill would set enforceable standards for insurer prior authorization, including public disclosure of criteria, electronic processes, decision timelines, specialty-appropriate reviews, and protections against retroactive denials. Members raised questions about whether the bill’s physician language could exclude advanced practice providers, and Wheeler said that language may need to be revisited before a full hearing. The bulk of the meeting was a wide-ranging budget discussion ahead of Health and Welfare’s budget presentation. Members debated possible Medicaid and department savings, including trimming optional services, reducing provider reimbursement cuts, using reserves, delaying or renegotiating contracts, expanding audits, and improving department efficiency. Several members argued against cutting disability, home- and community-based, and other vulnerable-population services, while others supported looking at Medicaid expansion, ResHab, and administrative overhead as places to find savings. There was also discussion of hospital rate reductions, work requirements, improper payments, and the use of Millennium Fund dollars. Representative Kaler presented specific ideas for the youth safety and permanency budget, including repealing the extended foster care expansion if participation remains low, reducing FTEs, and moderating benefit increases. Other members emphasized the need for evidence-based budgeting and stronger oversight of contracts and program integrity. No budget votes were taken; the committee mainly gathered ideas and directed members to provide more detailed numbers before the Health and Welfare budget hearing the next day.

Transcript Highlights:

• rates.
• The first is we look at the retention rate and the success rate of students.
• And you see those before you for retention rate or success rate.
• Education are employed rate.
• First-time pass rate which is now at 92%. Our LPN and collects pass rate is 100%.

Keywords: 999, senate, all

Transcript Highlights:

• </c> to modernize its disability rating to modernize its disability rating schedule<00:23:14.799><c>
• </c> current disability rating be reduced. current disability rating be reduced.
• ,</c> determines veterans disability ratings, determines veterans disability ratings, overriding<00:29
• . ratings. ratings.
• </c> who've yet to apply for a a rating. who've yet to apply for a a rating.

Keywords: U.S. House of Representatives Floor Proceedings on Thursday, July 16, 2026, 1012, house, all

Transcript Highlights:

• Withholding rates are set by our LDR rule.
• I've got a 12% growth rate in there.
• Interest rates have been soft.
• But sales tax is a... well, the rate changes are easy to pick up.
• But for that, what, one-quarter rate? Yeah, I mean, it's built in. Okay.

Summary: The Revenue Estimating Conference met with four members present and first approved the prior meeting minutes and recognized the FYI end-of-balance of $577,077,871 as nonrecurring revenue. The main business was revising the state revenue forecast for FY 2026, FY 2027, and the long-range outlook. The Division of Administration recommended a $113 million reduction to the FY 2026 State General Fund forecast and a $104 million reduction for FY 2027, citing weaker-than-expected individual income tax collections, softer corporate income tax receipts, and some weakness in general sales tax, partly offset by stronger motor vehicle sales tax and higher mineral-related revenues tied to oil prices. The Legislative Fiscal Office presented a somewhat different but broadly similar forecast, with modest net increases to the general fund bottom line in the current year and next year, emphasizing caution on income and corporate taxes and more optimism on sales, severance, royalties, and some other revenue streams. A substantial portion of the discussion focused on the causes of the income tax shortfall, especially withholding and refund patterns after tax changes that lowered rates. Department of Revenue officials explained that withholding tables had been set with a cushion that may be producing larger refunds, and said changing the tables could quickly reduce overwithholding, though the effect would take time to show up. Members also discussed corporate collections, the lingering effects of the franchise tax repeal, the role of settlements and audits, and the extent to which collections are voluntary versus enforcement-driven. The Department of Revenue said corporate collections still had key filing and estimated-payment milestones ahead in May and June, and that refund and audit activity related to the former franchise tax would continue for some time. The conference then adopted the Division of Administration’s FY 2026 forecast, the FY 2027 recurring forecast, and the long-range forecast, along with the proposed inflation rates for the Millennium Trust and parish severance allocation. Members also adopted the incentive expenditure forecast, noting that the reported amount is only the REC-reported portion and that larger tax exemption amounts come off the top before appropriations. The Treasurer reported a General Fund cash balance of about $404.1 million as of May 5, 2026, and an interfund borrowing base of about $9.18 billion, saying cash levels were similar on average to the prior year. The meeting ended with a note that another REC meeting might be needed depending on the May 16 election, and the conference adjourned without objection.

Transcript Highlights:

• Withholding rates are set by our LDR rule.
• I've got a 12% growth rate in there.
• Interest rates have been soft.
• But sales tax is a—well, the rate changes are easy to pick up.
• But sales tax is a, well, the rate changes are easy to pick up.

Keywords: 965, house, all

Summary: The Revenue Estimating Conference met with four members present and first approved the December 11, 2025 minutes. Members then recognized the FYI end-of-balance of $577,077,871 as non-recurring revenue. The main business was revising the state revenue forecast for FY 2026, with the Division of Administration recommending a reduction of about $113 million, driven primarily by weaker individual income tax collections, softer general sales tax receipts, and a substantial cut to corporate income tax forecasts. The Legislative Fiscal Office presented a somewhat different but still cautious outlook, and members discussed withholding rates, refund growth, corporate collections, and the effects of the franchise tax repeal and tax reform changes. After questions to the Department of Revenue about collections, refunds, enforcement, and settlements, the conference adopted the Division of Administration’s FY 2026 forecast. The conference then reviewed the FY 2027 recurring forecast. The Division of Administration again recommended a reduction, this time about $104 million, citing continued caution on individual income and corporate taxes, while the Legislative Fiscal Office projected a net increase of about $127 million, largely from sales tax, severance, royalties, vehicle sales tax, and other revenue streams. Members discussed the practical budget impact of the revised forecasts, including the need to reduce spending and the difficulty of funding a possible teacher stipend if a constitutional amendment fails. The FY 2027 recurring forecast was adopted. Members also adopted the long-range forecast, the proposed inflation rates for the Millennium Trust and parish severance allocation, and the incentive expenditure forecast. The incentive discussion noted that reported incentive costs reduce available revenue before appropriations, and members raised the possibility of reviewing or capping such incentives. The Treasurer’s Office then reported that the General Fund cash balance was $404.1 million as of May 5, 2026, and the interfund borrowing base was about $9.18 billion, with cash positions generally similar to the prior year. The meeting ended with a note that another REC meeting might be needed after the May 16 election, followed by adjournment.

Transcript Highlights:

• Next, it increases the interest rate for loans greater than $100.
• They're asking for a modest increase in interest rates from 5%...
• They're asking for a modest increase in interest rates from 5% percent.
• The bill does raise the interest rate from 4% to 5% per 30 days.
• But these other pieces, the interest rate and the document preparation fee, are percentages, their rates

Summary: The Senate Business, Trade, and Economic Development Committee heard public testimony on several House bills. HB 2624 would expand an existing exemption in the solicited real estate transaction law to allow public entities to solicit and buy real property for any public purpose, and also for Indian tribes and nonprofit nature conservancy organizations; the sponsor said the bill is meant to fix an omission from last year’s law, while a forest landowners group opposed it as creating a loophole for low-ball offers to vulnerable owners, and Trust for Public Land supported it as a different kind of transaction with existing appraisal and public-process protections. HB 2334 would create a cash-transaction rounding system to address the end of penny minting; staff said rounding would apply after tax and be permissive for sellers, with immunity and preemption provisions, and retailers and grocery groups supported it as a practical solution to penny scarcity, while members asked about signage and mixed-tender transactions. The committee also heard HB 1269, which would shorten pawn loan terms from 90 to 60 days, raise interest and fee caps, increase storage fees, and allow online payments for extensions. Pawn industry witnesses and the sponsor said the changes are modest, overdue, and needed to reflect inflation and operating costs while serving unbanked customers; some senators questioned whether the combined changes would more than double costs for borrowers, and industry witnesses said they were willing to work on the numbers. HB 2428 would require insurers to send advance lapse notices for individual life insurance policies to policyholders and a designated third party, with proof of delivery, to prevent unintended lapses; the sponsor, the Insurance Commissioner’s office, life insurers, AARP, and a business group all supported the consumer protection goal, though insurers noted added compliance costs and the bill’s delayed effective date for new policies. Finally, the committee heard HB 1078 on pet insurance, which would bar cancellation or nonrenewal based on a pet’s age or conditions that develop during the policy term and would restrict certain affiliate-policy transfers; the Insurance Commissioner’s office strongly supported it as a consumer protection measure, and staff noted a fiscal impact estimate and a new fiscal note request. The committee also took testimony on HB 2624 from both supporters and opponents, and on HB 2334 and HB 1269 from industry and public witnesses, but no votes were taken in the meeting. The chair closed public testimony and adjourned the committee after hearing all scheduled bills.

Transcript Highlights:

• So it runs through our rates, just like everything else.
• So everything we do is recovered through the rates we bill the departments. Okay.
• Through the rates we bill the departments. Okay.
• So there's no increase to the rates just because of this loan.
• Where we have said, you know what, we're good and that needs to remain flat rate, solid rate, whatever

Committee: All ALC-PEER

Summary: The committee considered several appropriation and transfer requests, beginning with a $273,000 temporary appropriation for the Department of Labor and Licensing to cover administrative costs for its enterprise licensing platform, funded by license and application fees. It then reviewed two large Infrastructure Investment and Jobs Act requests: $280 million for the Department of Transportation for the final quarter of the fiscal year, and $195 million for the State Broadband Office to support the Arkansas BEAD broadband grant program, including an extra help position and grants to internet service providers. The broadband item drew extensive questions about awardees, contract amendments, accountability, build-out timelines, backup plans if providers default, the definition of broadband serviceable locations, and the cost per location. The State Broadband Director said no providers had requested amendments, the program would use milestone-based disbursements and a four-year build-out period, and the first tranche would serve 51,566 homes and businesses with $126.1 million in grants. Both Section B and Section C items were approved. In Section D, the committee approved a $458,000 transfer within the Department of Correction from the female work release program to the Tucker Unit water treatment plant, a $25 million transfer within the Department of Education to cover declining enrollment, teacher incentive, school recognition, and Easter Seals funding, and a $229,000 transfer for the Department of Shared Administrative Services to support two project management office positions. The education transfer prompted questions about how declining enrollment funding is calculated, how many districts receive it, and how long districts can continue to receive it; agency staff said 152 districts were on the preliminary list and the formula is based on the prior two-year average ADM compared with the previous year. The committee also gave favorable advice on a proposed $4.7 million loan for the Office of State Technology to implement ServiceNow and related IT modernization tools; agency officials said the loan would be repaid through cost recovery rates over five years and would replace an existing loan that is ending, with expected savings from consolidating applications but no precise savings estimate yet. The committee then reviewed cash fund and federal grant requests, including $200,000 for wage and hour claimant payments, $15 million for unclaimed property claims, $8,000 for a heritage program grant, and $1.1 million for a College and Career Coaches grant to expand services in rural districts. It also reviewed pay plan and budget manual items without objection. The most extensive report discussion focused on the Medicaid trust fund, where DHS and DFA officials said the balance has been declining and that the state may need to add capital back into the fund. Senators and representatives asked about the current balance, the projected year-end level, the role of the $100 million set-aside, the impact of outstanding Medicaid rules from the prior session, and whether future federal funding could help reduce long-term Medicaid costs. Officials said they are still working through more than 10 outstanding rules with CMS and do not yet have a final price tag for those changes. The meeting ended after the reports were reviewed and the committee adjourned.

Transcript Highlights:

• We had one state with an error rate as high as 60%. If you're... it's a 60%.
• We had one state with as high an error rate as 60 percent.
• And so we as a state, our error rate is too high.
• First, we're talking about the error rate, talking about how there is fraud.
• Is our error rate off? Yes. That is well stated.

Bills: HB3057 , HB3130 , HB4113 , HB3310 , HB3314 , HB3985 , HB4486 , HB3040 , HB3407 , HB4343 , HB2981 , HB3764 , HB3765 , HB3767 , HB3982 , HB3321 , HB3322 , HB3323 , HB4126 , HB4130 , HB4170 , HB3345 , HB2941 , HB3062 , HB3244 , HB3298 , HB2977 , HB3304 , HB3299 , HB3297 , HB4260 , HB3906 , HB3648 , HB3319 , HB2933 , HB3544 , HB1322 , HB4104 , HB4105 , HB4106 , HB4107 , HB4108 , HB3974 , HB3134 , HB3055 , HB3115 , HB3471 , HB3497 , HB3500 , HB3505 , HB3755 , HB4202 , HB4226 , HB4236 , HB4139 , HB4144 , HB4422 , HB4423 , HB4317 , HB4321 , HB4322 , HB3176 , HB3239 , HB3263 , HB3673 , HB3794 , HB3796 , HB4265 , HB4266 , HB2123 , HB3048 , HB2445

Keywords: government reporting, information technology, child welfare, environmental policy, state agency compliance, gender transition, minors, health services, punitive damages, parental rights, health care providers, voter registration, voter eligibility, felony disenfranchisement, restoration of voting rights, formerly incarcerated, reentry, parole, probation, supervision

Summary: The House convened with a prayer, Pledge of Allegiance, and several recognitions, including the Duncan Girls Golf Team, the Doctor of the Day, and the Nurse of the Day. Members also made personal announcements and committee meeting reminders before moving to legislation. The main floor action centered on House Bill 4422, which would require applicants for SNAP and TANF to be U.S. citizens and use the SAVE system to verify immigration status. Supporters argued it would protect taxpayer dollars, enforce the law, and reduce improper benefits use; opponents said it would deter eligible families, especially children in mixed-status households, from seeking aid and would not address DHS error rates or budget problems. After extended debate, the House passed HB 4422 by roll call vote, 18-0. The House then considered House Bill 4423, a similar measure applying the same citizenship-verification concept to Medicaid through the Oklahoma Health Care Authority. Debate repeated many of the same arguments about fiscal responsibility, eligibility, children’s access to benefits, and immigration enforcement. HB 4423 also passed by roll call vote, 18-0. The chamber then moved to announcements and adjourned until Monday, March 2, 2026.

Transcript Highlights:

• The three ratings would include exemplary, satisfactory, and unsatisfactory.
• To help determine which agencies are suitable and give them a rating that universities could use.
• These evaluations assess agencies on student retention, graduation rates, achievement rates, and graduation
• loan debt, repayment rates, and graduation earnings.
• If a creditor receives an unsatisfactory rating, institutions must transition to a rated agency within

Bills: SB1998 , SB646 , SB2786 , SB2076 , SB2615 , SB1961 , SB1418 , SB2647 , SB1322 , SB2788

Committee: Senate Education

Keywords: pediatrics, medical education, subsidiary, preceptorship, medical training, student programs, mental health, loan repayment, education funding, mental health professionals, healthcare access, Texas Success Initiative, exemption, public officers, employees, higher education, Capitol view, Austin, urban planning, construction

Transcript Highlights:

• </c> increase mileage rates. increase mileage rates.
• </c> understand there is that the bond rating understand there is that the bond rating which<00:19:30.720
• independent rate-setting authority, which would actually divert capital dollars to higher interest rates
• </c> this amendment is that MTDA bond rating this amendment is that MTDA bond rating would<00:20:07.840
• public when rates are set. public when rates are set.

Keywords: House streaming session for Thursday, February 12, 2026, 957, house, all

Transcript Highlights:

• </c><00:30:53.520><c> return</c> rate assumed rate of investment return rate assumed rate of investment
• </c> called direct rate smoothing. called direct rate smoothing.
• smoothing only for the this direct rate smoothing only for the investment<00:32:25.280><c> rate</c><
• So this is that statutory rate.
• So this is that statutory rate.

Keywords: Meeting Start: 00:00:00 Attendance Roll Call: 00:00:12 Approval of Minutes: 00:01:34 Actuarial Valuation Update – KPPA: 00:02:10 Actuarial Valuation Update – TRS: 00:25:32, 958, all

Summary: The meeting began with roll call, confirmation of a quorum, and approval of the prior minutes. The main presentation was from KPPA officials Ryan Barrow and Erin Saratt on the annual actuarial valuations for the retirement and insurance systems. They said the systems’ funding status improved overall, with three of five insurance funds fully funded, CERS hazardous dropping from over 100% funded to 90.9% because of premium changes, and KRS receiving $650 million in supplemental funding over the biennium. They also reported strong investment returns above assumed rates, higher payroll and membership counts, and resulting actuarial losses tied to higher salaries and premiums, especially on the insurance side. Members asked several questions about what drove the actuarial losses and whether legislation affected them. KPPA said the CERS insurance loss was driven by premium increases and Senate Bill 10, while the pension-side losses were largely due to higher payroll and benefits for Tier 1 and Tier 2 members. They explained that new Tier 3 employees are designed to add no additional unfunded liability, and that the state administers the systems but does not directly control all hiring. Questions also focused on retiree health premiums, which KPPA said rose about 15% for non-Medicare retirees and 38% for Medicare retirees, with the increase attributed to utilization, prescription costs, and the Inflation Reduction Act. The committee then heard from TRS Deputy Executive Secretary and General Counsel Beau Barnes on the 2025 TRS actuarial valuation. He reported that the Retirement Annuity Trust and Health Insurance Trust both received full funding, the retirement trust’s funded ratio improved to 61%, TRS 4 remains well funded with no liability, and the health insurance trust improved to 89.1%. Barnes said TRS is on track to fully fund legacy liabilities within the amortization period, with 2044 as the point when the system reflects 100% funding and 2046 as the last year needing additional dollars for the legacy liability. He also explained that lower assumed investment returns and updated mortality assumptions increased liabilities, but that TRS uses direct rate smoothing for budgeting purposes. At the end of the meeting, the chair circulated a proposed set of “do’s and don’ts of pensions,” emphasizing that future legislation should not create unfunded liabilities. Barnes also noted he would later discuss several legislative proposals for the 2026 session, but the transcript provided ends before that discussion or any votes on those proposals.