Transcript Highlights:

• Since then, have you participated in a capital project?
• Remarks from the state, our capital outlay, over the years? Yes.
• That's why you have a fiscal agent, so that nonprofits can get capital outlay.
• We can invest in capital down the road.
• And the air ambulance services are more state assets, and they come from different places.

Committee: House Legislative Health & Human Services Committee

Transcript Highlights:

• in capital gains revenues that we’ve already talked about and set aside the peaks in capital gains revenues
• And then the share that is over that is what’s considered, quote, excess capital gains.
• in capital gains revenues that we've already talked about and set aside the peaks in capital gains revenues
• And then the share that is over that is what's considered, quote, excess capital gains.
• China has $173 trillion in tax assets in the positive.

Summary: The Senate Budget and Fiscal Review Committee held an informational hearing on California’s Budget Stabilization Account, or Rainy Day Fund, with opening remarks focused on the state’s long history of revenue volatility and the role reserves play in smoothing downturns. The Legislative Analyst’s Office explained that California’s personal income tax base is highly volatile because high-income earners’ income is tied to capital gains and other fluctuating sources, and that Proposition 2’s current reserve rules set aside 1.5% of General Fund revenues plus a share of excess capital gains, but cap constitutional deposits at 10% of General Fund taxes. The LAO said its analysis evaluates reserve policy over decades and found the current system would cover about 30% of funding shortfalls in a 90th-percentile downturn scenario over 50 years, which is an improvement over no reserve but still inadequate. The LAO recommended raising the reserve cap substantially, ultimately to 50% by 2055, with an immediate increase to 20% and gradual increases thereafter. It also suggested either replacing Proposition 2’s deposit formulas with broader rules that capture volatility across all tax revenues or, alternatively, depositing all excess capital gains rather than only a share. The Department of Finance said the Governor’s prior proposal similarly sought to raise the cap from 10% to 20% and exclude reserve deposits and withdrawals from the state appropriations limit, arguing those two constraints limited the state’s ability to save during recent revenue surges. Other panelists and members discussed whether reserves should be paired with broader structural changes, including unemployment insurance reform, safety-net funding, infrastructure reserves, and the projected surplus temporary holding account. The California Budget and Policy Center supported reserve reform but emphasized balancing savings with current needs and noted other tools such as revenue increases, borrowing from special funds, and the new surplus-holding account. Members debated the causes and effects of Proposition 13, the appropriations limit, business departures, and whether reserve policy should be more directly tied to protecting Californians’ access to health care, food assistance, child care, and other core services. No votes or formal actions were taken, as the hearing was informational only.

Transcript Highlights:

• in capital gains revenues that we've already talked about and set aside the peaks in capital gains revenues
• And then the share that is over that is what's considered, quote, excess capital gains.
• in capital gains revenues that we've already talked about and set aside the peaks in capital gains revenues
• And then the share that is over that is what's considered, quote, excess capital gains.
• China has $173 trillion in tax assets in the positive.

Committee: Senate Budget and Fiscal Review

Summary: The Senate Budget and Fiscal Review Committee held an informational hearing on California’s Budget Stabilization Account, or Rainy Day Fund, with presentations from the Legislative Analyst’s Office, the Department of Finance, Practical Idealism Economics, and the California Budget and Policy Center. The LAO explained that California’s revenue volatility is driven largely by the personal income tax and high-income capital gains, and described how Proposition 2 deposits work, the 10% cap on the BSA, and the LAO’s evaluation that the current policy would cover only about 30% of funding shortfalls over 50 years in an unfavorable benchmark scenario. The LAO recommended raising the cap to 50% over time and either adopting broader deposit rules or depositing all excess capital gains. Finance said the administration had proposed raising the cap to 20% and excluding reserve deposits and withdrawals from the state appropriations limit. The Budget Center supported reserve reform but stressed balancing savings with current service needs and noted other tools such as revenue changes, borrowing from special funds, and the new Projected Surplus Temporary Holding Account. Committee members debated the purpose and adequacy of reserves, the role of the state appropriations limit, and whether reserves should be paired with broader fiscal reforms. Several senators argued that reserves are needed to preserve core services during downturns and that the current system is too complicated and too small, while others emphasized the need to protect spending on health care, child care, and other services for working Californians. There was also discussion of infrastructure spending as a possible countercyclical tool and whether deposits for infrastructure should be treated differently under reserve and SAL rules. The LAO said the Legislature has flexibility in defining infrastructure spending and suggested an infrastructure fund could function as a separate reserve-like mechanism. A significant portion of the hearing turned to broader tax and budget policy, including repeated references to Proposition 13, the state’s revenue structure, business departures, unemployment insurance financing, and the impact of inequality on California’s fiscal resilience. Some members argued Prop. 13 was driven by affordability concerns for homeowners, while others said it created loopholes that benefit corporations and constrain local revenue. The hearing did not take any vote or formal action; it remained informational, with the chair indicating the committee would continue questions and public comment after the panel discussion.

Transcript Highlights:

• warrant that was cashed by someone other than the intended payee and had several issues regarding capital
• assets.
• For the general road and all other funds combined, assets totaled $23 million while liabilities totaled

Committee: All LEGISLATIVE JOINT AUDITING

Transcript Highlights:

• Housing infrastructure bonds are the state's largest source of capital for the development of housing
• Homeownership builds family assets that can be leveraged for medical care or economic emergencies, or
• disclosure prevention counseling has a 95% success rate at supporting homeowner retention of housing assets

Committee: House Housing Finance and Policy

Transcript Highlights:

• to get those assets for a certain price.
• Because replacing private for private is not capitalism, you know what I mean?
• Capitalism: you offer me something, I either reject it or take it.
• </c> private for private is not capitalism private for private is not capitalism you<01:03:26.079><c>
• But as a farmer and a businessman, before I use an asset, most of the time I have to pay for it.

Summary: The committee first approved the June 10, 2025 minutes, then took up House Bill 198, Angela’s Law, sponsored by Representative Samara Heavrin. The bill would add a new aggravating circumstance in death-penalty cases when an offender abuses the corpse of a kidnapping or murder victim by engaging in deviate sexual intercourse, sexual intercourse, or sexual contact. Representative Heavrin and the victim’s parents described the underlying case and argued the current law does not adequately account for postmortem sexual abuse, leaving the offender parole-eligible despite the family’s view that the conduct warranted harsher punishment. Several members expressed sympathy and support, and one member suggested the proposal should be drafted carefully so it would apply broadly enough to cover co-conspirators or multiple offenders. No vote on the bill was taken in the portion provided. The committee then heard an informational presentation on KRS Chapter 202C from Judge Lisa Payne Jones and Shauna Mitchell of the Kentucky Judicial Commission on Mental Health. They explained that Chapter 202C, enacted in 2021 to close a gap in the civil-commitment statutes, applies to respondents found incompetent to stand trial who are charged with qualifying serious offenses such as capital offenses, certain Class A and Class B felonies causing death or serious injury, rape in the first degree, or sodomy in the first degree. The process begins with a Commonwealth’s petition, followed by a prompt evidentiary hearing, appointment of a guardian ad litem, and then a commitment hearing if the offense is proven. The presenters outlined the procedural standards and recent statutory changes. At the evidentiary hearing, the Commonwealth must prove the charged offense by a preponderance of the evidence before a judge, with the respondent able to present defenses; if the Commonwealth fails, the respondent must be released. If the case proceeds, the commitment hearing requires proof beyond a reasonable doubt of at least one involuntary-commitment criterion, and the hearing may be before a jury if requested. They noted that a 2024 amendment changed the commitment criteria from requiring all four factors to only one, and added language about recent criminal behavior and prior involuntary hospitalizations under Chapters 202A or 202B. If commitment is ordered, the respondent is placed in a designated forensic psychiatric facility, currently KCPC.

Transcript Highlights:

• limit bill passed said continuing care retirement communities should not be permitted to retain the assets
• CCRC residents make a substantial investment of their lifetime assets in the form of an entrance fee
• So it's really our obligation to be stewards for our residents, and that could go to capital investments
• and how those are for our residents, and that could go to capital investments and how those are guided

Summary: The Special Commission on Continuing Care Retirement Communities held a public hearing focused on studying CCRCs in Massachusetts, including their financial viability, consumer protections, oversight, entrance fee and refund policies, advertising, and procedures for closure or ownership changes. Chair Rep. Tom Stanley and co-chair Sen. Pat Jehlen opened by explaining the commission’s mandate under Chapter 197 of the Acts of 2024 and asked speakers to keep testimony brief. Several commissioners and staff also emphasized the importance of hearing directly from residents, providers, and advocates. Resident testimony largely centered on two themes: the need for stronger resident representation and the need for clearer, faster refund protections. Multiple residents urged the legislature to require resident seats on governing boards, including full voting rights on national or nonprofit boards, and to make board minutes and meetings more transparent. Several speakers described long delays in receiving entrance-fee refunds after leaving a community, with one family reporting an 18-month wait and financial hardship; they called for a one-year refund limit, vacancy-order systems, escrow or reserve protections, and state oversight or guarantee funds. One resident also argued that CCRCs should be more clearly defined in state law and possibly licensed or certified so only approved communities can market themselves as CCRCs. Providers and operators generally described CCRCs as valuable models for aging in place and emphasized transparency, resident engagement, and the benefits of nonprofit ownership. Speakers from nonprofit communities said residents often serve on boards or committees, participate in budgeting and planning, and benefit from integrated care, amenities, and financial stability. A for-profit operator also said residents receive disclosure and input, while noting that CCRCs vary widely and that consumer education is important. Commissioners echoed several recurring issues at the end of the hearing, especially the need to define what a CCRC is and to address refund timelines and information sharing. No votes were taken; the hearing concluded with notice that the next virtual meeting would be on June 23 at 10:00 a.m., and written testimony was invited by email.

Transcript Highlights:

• want to make sure that everything we're doing as it relates to maintenance and preservation of these assets
• There's an organization under the state treasurer's office called LAMP, the Louisiana Asset Management
• It's important to note that in 2016, during a significant flooding event in the capital region, there
• It's important to note that in 2016, during a significant flooding event in the capital region, there

Summary: The House Transportation Committee met on Monday, April 27, and took up a series of Senate bills and resolutions, most of them memorial highway designations or prestige license plate measures. The committee first adopted amendments and reported Senate Bill 122, which directs the Department of Transportation and Development to plan, maintain, and report on bridge conditions statewide, with a focus on proactive bridge maintenance and public reporting. Members also reported favorably SCR 6 supporting an LNG facility at Port Fourchon, SCR 18 directing a study of commercial driver licensing privileges compared with neighboring states, and SB 50 naming the Bayou DeLarge Basque Bridge as the Elwood T. Brady Jr. Memorial Bridge. The committee then approved several memorial and honorary measures, including SB 70 for Officer Mark Brock Memorial Highway, SB 96 creating a Fallen Heroes prestige license plate, SB 460 naming a highway for Hayden Lane Mangum, SB 24 designating Interstate 49 as the Senator J. Bennett Johnston Jr. Memorial Highway, SB 101 naming highways for Daniel Edward Didillo and Bill Blue Evans, SB 160 naming the Speaker Joe R. Salter Memorial Highway, SB 418 naming the Dick and Jacques Schuford Memorial Highway, SB 114 creating a prestige plate for the Foundation for Moral Law, SB 103 and SB 159 naming Franklin Parish highways, SB 412 naming a portion of Highway 13 for Roy Chaffin, SB 182 naming a highway for Mayor Billy Cobb, SB 104 naming the Ernest J. Gaines Memorial Highway, and SB 2 naming the Falcons Band Highway. Most of these items were reported favorably without objection after brief testimony from authors, family members, or supporters. One measure drew more discussion: SB 19, which changes the name and design of the state employee retired prestige license plate and redirects proceeds to a private nonprofit associated with retired state employees. Representative Schlegelhorn objected, but after testimony that the organization is a tax-exempt nonprofit funding scholarships and that no money had previously gone to LASERS from the plate, the committee adopted a motion to report the bill favorably by a 13-1 vote. The committee also adopted amendments to HCR 69, which urges DOTD to improve Interstate 12 in Livingston Parish with attention to drainage, flood risk, and evacuation resilience, and then reported it favorably. HCR 63, creating a task force to study whether certain active-duty military personnel can operate federally owned vehicles on state highways without civilian licenses, was also reported favorably. The meeting ended after the agenda was cleared and a motion to adjourn was made.

Transcript Highlights:

• it, it changes it for non-government entities with a prepaid capitated rate.
• Senator Bill 1751, inact, in Section 13-757, Arizona Vice Situating to Capital Punishment.
• President Pro Tem, I think we should all remember that this is happening in our near capital community
• So this whole capital community has a rich historical history.
• Again, I read this as one of our biggest assets that we need to be managing.

Transcript Highlights:

• streamlined post-award process, increased and more effective coordination with our partners on the asset
• This is just a look at what has to happen for an affordable project to build their capital stack.
• To build their capital stack. Often they're coming for local subsidy.
• step where they also bring in private activity bonds and tax credits to really fill out the whole capital
• Oakland still has over 15 projects in our budget pipeline, waiting to build their capital stack, and

Summary: The subcommittee heard an extensive presentation on the administration’s housing reorganization proposal, which would centralize multifamily affordable housing finance under the new Housing Development and Finance Committee (HDFC) and align it with the Governor’s trailer bill language. Administration officials said the plan is intended to create a one-stop application and award process, reduce duplicative timelines and costs, and pair state subsidy with private activity bonds and federal tax credits more efficiently. They also described proposed changes to the Affordable Housing and Sustainable Communities program, including shifting a larger share of funding toward housing-related awards while preserving a portion for sustainable communities investments. The Legislative Analyst’s Office generally supported the streamlining concept but recommended changes to the proposed bond set-aside timing and urged flexibility for integrated applications and future reporting on demand. Senators, especially Senator Cabaldon, raised concerns that the proposal could weaken the original climate-and-transportation purpose of the sustainable communities program and that the reorganization would be undercut by the lack of new housing production funding in the budget. The item was held open without a vote. The committee then received a report from the California Debt Limit Allocation Committee and the California Tax Credit Allocation Committee on federal and state housing tax credits. Staff explained that the federal H.R. 1 change lowering the bond-financing threshold from 50% to 25% greatly expanded the number of projects able to use the 4% federal tax credit, allowing California to fund many more projects and units. They also described the state low-income housing tax credit as an important gap-filling tool for projects that still need additional subsidy, and noted existing set-asides for rural, homeless, at-risk, and extremely low-income projects. Members discussed rehabilitation as well as new construction, and the item was informational only. Finally, the Civil Rights Department reported on the effects of federal civil rights policy changes and on three programs facing expiration: California vs. Hate, the Community Conflict Resolution Unit, and Investigations and Conciliation Enhancement. Director Kevin Kish said federal cuts and policy shifts have reduced support for fair housing and other civil rights functions, while CRD’s caseload has grown from about 8,700 open matters a year ago to more than 12,000, with a six-month wait for interviews despite overtime triage efforts. Senators expressed strong support for continuing the programs and concern about the broader federal rollback of civil rights enforcement. The department said it is using overtime, intake triage, and outreach partnerships to manage the workload and direct Californians to appropriate state, local, and nonprofit resources.

Transcript Highlights:

• Those older Minnesotans moving away, they're the ones that had the taxable assets.
• </c> billion and a half of taxable assets billion and a half of taxable assets move<00:25:02.360><c>
• We want those taxable assets to stay in the state.
• And lastly here, we have $10 million in capital nonprofits through the Expanding Opportunity Fund.
• </c><01:36:19.040><c> Improvements</c> some significant Capital Improvements some significant Capital

Committee: Senate Jobs and Economic Development

Transcript Highlights:

• With the influx of capital they have, the roads are being paved now.
• AI infrastructure isn't just an economic asset, it's a national security asset.
• Scott: Texas is the energy capital of the US.
• These are not abstract assets. Mark Whitman: They are real.
• It required planning, execution and significant capital commitment.

Committee: House State Affairs

Summary: The Committee on State Affairs convened to discuss data centers and their impact on Texas's energy infrastructure. The meeting featured testimony from key representatives of the Public Utility Commission (PUC) and ERCOT, who outlined the evolving landscape of energy generation and the challenges posed by the rapid growth of data centers. Notably, ERCOT reported over 450,000 MW of generation resources planned for connection, with a significant portion attributed to data centers, which now represent around 87% of new large load interconnection requests. The committee explored proposed changes to the interconnection process, including a new 'batch study' approach aimed at streamlining the approval of multiple projects simultaneously. This change is intended to address the challenges of managing numerous simultaneous requests and to provide more certainty for developers regarding their energy needs. Testimonies emphasized the importance of ensuring that the costs of infrastructure upgrades are borne by the data centers rather than residential ratepayers, with discussions around the financial commitments required from developers. Several data center developers also provided testimony, highlighting the economic benefits of their projects, including job creation and increased local revenues. They expressed concerns about the potential for a moratorium on future growth due to the new interconnection rules and emphasized the need for a collaborative approach to address water usage and environmental impacts. The committee plans to continue discussions on these topics in future hearings, with a focus on balancing economic growth with energy reliability and resource management.

Transcript Highlights:

• Yes, we can't buy capital improvements like boats and trucks and things like that, assets.
• It prohibits unnecessary capital purchases. It includes a sunset. Revenue.
• It prohibits unnecessary capital purchases.
• We keep pushing them to eliminate their assets, to just shrink them, and make decisions for them when
• Today we retire to the historic capital the portrait of the earliest serving speaker currently hanging

Summary: The House convened with prayer, a moment of silence for former Judge John Carlin, the Pledge of Allegiance, and a recognition of FSU Police Officer Cody Popple for his actions during the April campus shooting. The Speaker also outlined the final week of session, noting the House would focus on Senate bills and returning messages, and that the 2026-27 budget would not be completed by the end of the week. The chamber then adopted the special order calendar for the day. The House passed several technical and open-government bills, mostly on strong bipartisan votes. These included SB 100, SB 104, and SB 102 on the Florida Statutes and reviser changes; SB 7006, SB 7014, SB 7002, SB 7012, SB 7024, SB 7016, SB 7026, SB 7008, SB 7000, and SB 7004, which extended or preserved various public records or meeting exemptions involving the Public Service Commission, social media investigations, military affairs, highway safety investigations, cybersecurity, small business loan records, trade secrets, emergency shelter locations, and conviction integrity units. Members asked questions on several of these bills, especially about the scope and purpose of the exemptions, but the bills generally advanced with little opposition. The chamber also took up more substantive measures. SB 7040 recreated the emergency preparedness and response trust fund and drew extended debate over whether the fund had been misused for the Everglades detention facility; an Escamani amendment to let the fund expire failed, while a Griffiths amendment adding limits and oversight was adopted, and the bill ultimately passed 82-25. CS/CS/SB 302 on coastal resiliency passed unanimously after supporters highlighted nature-based shoreline protection and a Biscayne Bay provision. CS/CS/SB 984 on firefighter cancer benefits passed after a House amendment aligned it with the House version. CS/SB 474 on military affairs passed unanimously after an amendment allowing local governments to extend Guard leave. SB 488 on the Department of Highway Safety and Motor Vehicles was debated extensively over vehicle registration requirements, license plate frames, and I-94 documentation, with amendments including one for disabled veterans and another on dealer allocation; the transcript cuts off before final disposition of that bill.

Transcript Highlights:

• Lawn sprinklers save your grass; fire sprinklers save your assets.
• So there's that capital investment to fix it up.
• So there's that capital investment to fix it up.
• It's the only asset they have.
• </c> have nowhere to go it's the only asset have nowhere to go it's the only asset they<01:33:53.560>

Committee: Senate Housing and Homelessness Prevention

Transcript Highlights:

• Just here and not too far from this capital, there was a project that occurred recently that started
• This session will largely depend on fair and enforceable contract terms being used to build the capital
• Second, the bill imposes potentially unrecoverable costs on existing assets and increases customer costs
• State-of-the-art EMP qualification facilities across the nation, the DT Global Laboratory for Energy Asset
• So, we think the bill is a little bit narrowly focused on transmission and distribution assets.

Bills: SB75 , SB715 , SB776 , SB1299 , SB1405 , SB1968 , SB2021 , SB2077 , SB2148 , SB2321 , SB2330 , SB2411

Committee: Senate Business & Commerce

Transcript Highlights:

• Incredible asset in the state and the people. Thank you so much, Ms.
• And then finally, those businesses need access to capital.
• And then finally, those businesses need access to capital.
• And then finally, those businesses need access to capital.
• We are rich in this asset.

Summary: The Assembly Select Committee on Asia, California, Trade and Investment held its first informational hearing to examine California’s trade, tourism, and investment ties with Asia and the effects of federal tariffs. Chair Jessica Caloza opened by emphasizing California’s role as the world’s fourth-largest economy and a major exporter to Asia, and several members and guests highlighted the importance of subnational diplomacy, sister-city relationships, and coordinated trade missions. Lieutenant Governor Eleni Kounalakis described California’s long-standing engagement with Asian partners, citing trade missions, the 2023 APEC summit in California, and the state’s large Asian American and Pacific Islander population as reasons to deepen these relationships. The first panel focused on trade, tourism, and foreign investment. Leaders from the Los Angeles County Economic Development Corporation, the San Francisco Chamber of Commerce, and Visit California said California’s economy depends heavily on Asia-linked trade, tourism, and direct investment. They warned that federal tariffs and related policy uncertainty are disrupting ports, logistics, manufacturing, education, and travel, with impacts on longshore work, shipping volumes, international students, and visitor spending. Visit California reported a decline in 2025 visitation, especially from Asia and Canada, and urged stronger promotion, partnerships, and state-level support to maintain California’s global brand. The second panel examined tariff impacts in more detail. Glenn Fukushima and Dr. Kyle Handley said tariffs function as taxes on imports, raising costs for businesses and consumers and discouraging investment when policy changes are frequent and unpredictable. They argued California is especially exposed because of its ports, supply chains, and cross-border trade with Asia and Mexico, and warned that new vessel fees and rerouted freight could further harm California shippers. Both said tariffs are unlikely to achieve clear strategic goals quickly and may damage U.S. credibility and long-term trade relationships, while recommending that California focus on making itself more competitive through infrastructure, permitting reform, export assistance, and other measures within state control. The final panel turned to future opportunities and the role of small businesses. Speakers from the San Diego Regional Chamber of Commerce, the Asian Business Association California, and the Small Business Development Center network stressed that small and minority-owned firms often feel trade disruptions first and need more access to trade missions, capital, technical assistance, and large events that generate business spillover. They said California should continue investing in ports, business support systems, and international partnerships so that trade and tourism gains reach businesses across the state.

Transcript Highlights:

• of Adoption and Regional Consortia grants, Verizon, Comcast, Access Plus Capital, Regional consortia
• grants, Verizon, Comcast, Access Plus Capital, U.S.
• lines and being much closer to the problems than we could ever be in Sacramento or in our nation's capital
• I wanted From in Sacramento or in our nation's capital, I wanted to dig in a little bit regarding the
• Holding a project portfolio of community-owned and community-governed assets addressing environmental

Transcript Highlights:

• Over time, concerns arose regarding management of my mother's assets.
• And for a woman who entered the legal system seeking protection of her assets, being required to set
• They fear that the assets and resources he spent... relationships and quality of life have been taken
• My revocable trust allowed me to spend assets as I wish, even though Charlotte was incapacitated.
• They say I didn't have the right to take assets out of the trust.

Committee: Senate Senate Ad Hoc Committee on Elder Abuse

Summary: The Senate Ad Hoc Committee on Elder Abuse opened by explaining it was gathering testimony on elder abuse, especially alleged misconduct involving court-appointed systems such as guardians ad litem and fiduciaries, to identify gaps in law and oversight and develop legislative fixes. The chair limited each witness’s time, asked for names and contact information for follow-up, and repeatedly noted that some allegations might warrant referral to law enforcement, the attorney general, or county attorneys if basic criminal elements were present. Several witnesses described alleged abuse in guardianship, conservatorship, and fiduciary cases. Dr. Holly Lauder said her mother, who had Alzheimer’s disease, was subjected to allegedly deficient psychological capacity evaluations that ignored treating doctors and family input, leading to a fiduciary arrangement that later resulted in neglect. Kevin Axson described his mother’s probate case, saying a guardian ad litem and conservator were appointed after a family financial dispute, that the guardian ad litem and fiduciary had little contact with his mother, and that the estate was burdened with substantial fees and a $200,000 bond requirement. Frieda Alvarado testified about a 94-year-old client, Samuel Armento, saying he was isolated, medicated without his request, and treated without dignity after a fiduciary and care team took control. Bill Chalmers, Johnny Hamilton, and Kathy Hamilton also testified about Sam Armento’s case, alleging isolation, excessive fees, conflicts of interest, and poor oversight by fiduciaries and caregivers. Other witnesses raised broader concerns about Arizona probate practices. David Redkey said he has been under a long-running conservatorship despite earning degrees and maintaining capacity, and alleged that court-appointed professionals and fiduciaries overcharged his estate and blocked efforts to terminate the arrangement. Susan Wolfe described the Peyton case, alleging that a wife’s conservatorship and related court actions led to the loss of assets, exclusion of witnesses, and large fees for a relatively small monthly care bill. Dr. Lewis Heller, an OB-GYN and disciplinary committee member, said the medical evaluations he reviewed showed the people involved were competent and that the conduct he observed was unethical and possibly criminal. Renee Self testified that she lost her role as trustee and spent large sums defending her father’s estate, alleging that the probate process stripped her father of assets and limited her access to him despite APS findings that her actions were in his best interests. No formal committee votes or legislative actions were taken in the excerpt, but members repeatedly expressed concern, asked for documents and transcripts, and indicated they would follow up with witnesses and consider stakeholder meetings to craft legislation addressing oversight, transparency, and accountability in guardianship and fiduciary systems.

Transcript Highlights:

• And with the cost of these capital projects escalating the way they are, it would be very appropriate
• perfectly with your previous bill presentation had there been overruns in their construction and the capital
• It initially had nonprofit clinics with net assets of $10 million.
• And it can now be used for working capital, so if in fact there's an expansion, you can build the building
• Madam Chair, they have been relatively small to date because we started off with such a modest capitalization

Bills: SB21 , SB42 , SB81 , SB101 , SB139

Committee: Senate Senate Health & Public Affairs

Keywords: SB 21, Medicare supplement, Medigap, open enrollment, guaranteed issue, birthday month enrollment, health insurance, insurance regulation, senior health coverage, elderly, retiree, Medicare beneficiaries, preexisting conditions, underwriting restrictions, premium discrimination, New Mexico insurance law, superintendent of insurance, health care coverage, policy portability, healthcare

Transcript Highlights:

• move funding from one arena to another to expand the ability for the department to have access to capital
• Section 9 in House Bill 3 that you all voted on on Tuesday, and possibly also some funding in the capital
• It is one of those rare moments in public finance where an asset class appears to be providing a low-risk
• We also note that the state's sitting on more than $7 billion in unspent capital outlay dollars that
• We also note that the state's sitting on more than $7 billion in unspent capital outlay dollars that

Summary: The committee first heard TRIP’s annual New Mexico transportation report from Carolyn Boniface Kelly, which described deteriorating roads and bridges, congestion, safety concerns, and a large transportation funding gap. The report said more than half of major roads statewide are in poor or mediocre condition, over 170 bridges are rated poor, congestion costs drivers significant time and money, and traffic crashes and road conditions impose billions in annual costs. Members broadly agreed the report underscored the need for more stable transportation funding, with several noting the state’s recurring underinvestment and the safety risks to motorists, pedestrians, and bicyclists. The committee then took up Senate Bill 2, a transportation bonding and revenue package. Senator Gonzales and Governor’s office and NMDOT representatives said the bill would authorize about $1.5 billion in additional bond debt for ready-to-go highway projects, while also increasing certain motor vehicle excise, registration, weight-distance, and EV-related fees to help support debt service and transportation funding. Supporters, including contractors, the Greater Albuquerque Chamber, the Department of Finance and Administration, and transportation officials, argued the bill would improve safety, economic development, project delivery, and funding stability, and help preserve federal dollars. Opponents, including the Rio Grande Foundation and some committee members, objected to the tax and fee increases, argued the state should use existing surpluses or other funds instead, and raised concerns about impacts on families, businesses, and local governments. Committee members questioned how projects would be selected, how the new fees were calculated, how EV surcharges would work, and whether local government distributions would be affected. NMDOT said the projects would be reported to the legislature annually, selected using crash data, asset management, and project readiness, but bond approval would remain with the State Transportation Commission. After debate, Representative Romero moved do pass on SB 2 as amended, Representative Hochman-Vigil seconded, and the committee approved the bill 7-2, with Representatives Brown and Dow voting no and several members expressing reservations despite supporting the need for transportation investment.