Transcript Highlights:

• <00:09:57.600> financial essence a suite of um financial essence a suite of um financial calculators
• . calculators. calculators.
• There isn't really an accounting standard for that calculation. So, we've worked on it.
• So, we should have that calculation to respond to that question in the next week or so.

Keywords: Meeting Start: 00:00:35 Attendance Roll Call: 00:00:55 Approval of Minutes: 00:02:56 Deferred Compensation Authority Update: 00:03:12 Retiree Health Update - TRS: 00:15:58 Retiree Health Update - KPPA: 00:56:13 Adjournment: 01:20:33, 958, all

Summary: The Public Pension Oversight Board received updates from the Kentucky Public Employees Deferred Compensation Authority and the Teachers Retirement System. Chris Biddle reported that deferred compensation assets had grown to about $4.787 billion with roughly 88,000 participants, crediting auto-enrollment, targeted marketing around pay raises, and retiree-focused services. He said the board’s self-directed brokerage account, authorized by last year’s legislation, is being designed around a $40,000 account-balance threshold with up to 25% transferable into the brokerage window, tentatively for July 1 of the coming year. He also described the free financial planning program, which has been used by about 3,300 to 3,500 participants with an 87% return rate, and noted that the plan is currently in a fee holiday; members asked about the fee structure and whether the CFP service is provided through Nationwide, which Biddle confirmed. Board members praised the deferred compensation program’s growth and asked for the legislation referenced by Biddle. He said the plan’s annual fees are capped, with a $1 monthly fee plus other charges up to a $225 cap, for a maximum of $237 per year absent a managed account. He also said the program is seeking unified payroll access to expand participation, especially among teachers, and that prior lineup changes saved about $6 million annually in participant fees. Bo Barnes of TRS then addressed retired teachers’ health insurance, first clarifying a prior question about declining federal contributions to the retirement annuity trust. He explained that federally funded school positions generated contributions that rose from $72 million in 2019 to $109 million in 2022, then fell to $85 million this year, with a projection of $80 million over the next three years; if those dollars do not come from federal sources, they would have to be replaced through the SEEK formula. Barnes then reviewed TRS health coverage, explaining that the statutory contract guarantees access to group coverage but not fixed premium levels, and that TRS administers two retiree plans: KEHP for retirees under 65 or otherwise not Medicare-eligible, and MEHP for retirees 65 and older or Medicare-eligible. Barnes said TRS completed RFPs for the 2026 plan year, retaining Express Scripts for prescription drugs and switching the Medicare Advantage medical provider from UnitedHealthcare to Humana, while keeping plan design, provider access, out-of-pocket costs, and benefits materially unchanged. He noted a modest hearing-aid improvement of $500 per ear beginning in 2026. He also reported that the TRS Board approved the maximum state contribution for KEHP at $1,044.96, up from $930.76, an 18% increase that he said would require about $15 million to $16 million more annually, while the MEHP premium would drop from $210 to $200 per month because of the new contract. Using the 2024 valuation, he said the KEHP increase would slightly reduce the health trust funded ratio from 80.4% to 80.1% and raise unfunded liability from $4.036 billion to $4.051 billion. Barnes closed by reviewing the 2010 shared-responsibility reforms that shifted retiree health costs away from a pay-as-you-go model, including phased employee and district contributions and Commonwealth stabilization funding. No votes were taken beyond approval of the minutes.

Transcript Highlights:

• share of your salary that was earned for days worked in Minnesota, and then sort of use that to calculate
• share of your salary that was earned for days worked in Minnesota, and then sort of use that to calculate
• sort of use in Minnesota. um and then sort of use that<01:09:17.040> to<01:09:17.199> calculate
• <01:09:17.600> how<01:09:17.759> much<01:09:17.920> your that to calculate how
• much your that to calculate how much your Minnesota<01:09:18.480> source<01:09:18.799> earnings

Bills: HF2048, HF2360, HF2006, HF950, HF912, HF3140, HF2931

Keywords: individual income tax, retirement contributions, tax corrections, annuity contracts, tax year attribution, tax credit, economic development, community investment, data disclosure, Minnesota regulations, tax increment financing, municipal authority, job creation, transferred increment, public hearing, nonresident employees, income tax exemption, Minnesota taxation, employment duties, tax withholding

Transcript Highlights:

• take advantage of sections three and five, the school district's average daily attendance shall be calculated
• take advantage of sections three and five, the school district's average daily attendance shall be calculated
• daily attendance district's average daily attendance shall<00:58:04.160> be<00:58:04.319> calculated
• by<00:58:05.160> by<00:58:05.319> deducting<00:58:06.079> five shall be calculated
• by by deducting five shall be calculated by by deducting five low<00:58:06.760> attendance<00

Keywords: Meeting Start: 00:01:04 Attendance Roll Call: 00:01:12 Senate Bill 3 (Sen. Wise): 00:05:28 Senate Bill 6 (Sen. Givens): 00:32:17 House Bill 241 (Rep. Truett): 00:52:18 Senate Bill 268 (Sen. Reed): 01:11:57 Adjournment: 01:24:48, 958, all

Summary: The Senate Standing Committee on Education met and first handled introductions of guests and visitors from several school districts and education groups. The committee then took up Senate Bill 3, which relates to student athletes and includes an emergency clause. The bill sponsor and invited witnesses, including athletics directors from the University of Kentucky and the University of Louisville, said the measure is intended to update Kentucky’s NIL laws in light of the House v. NCAA settlement and other national changes in college athletics. Supporters said SB 3 would let Kentucky universities directly compensate student athletes, help them secure third-party NIL deals, require reporting of deals over $600, and create guardrails and fair-market-value review to reduce pay-for-play concerns. They emphasized that the bill is meant to keep Kentucky institutions competitive, align with expected national standards, and prepare for changes expected around July 1, 2025. Witnesses also discussed the need for more uniform rules nationally, the role of the Power Four conferences in developing governance and clearinghouse systems, and the desire to preserve both athlete mobility and continuity in college sports. Several members raised concerns about the transfer portal, NIL incentives, and the broader effect on college athletics, with one senator saying NIL and the portal have damaged the sport but acknowledging Kentucky must compete. Witnesses responded that tighter portal windows and clearer national rules would help, while still preserving student-athlete transfer rights when needed. After discussion, the committee moved to a vote on SB 3; the roll call was taken, and the bill advanced out of committee, with at least one senator explaining a reluctant yes vote because of competitive pressures on the Commonwealth.

Transcript Highlights:

• Everything is calculated towards the total qualified spend, so it's 0.1% of the total qualified spend
• Everything is calculated towards the total qualified spend, so it's 0.1% of the total qualified spend
• :43:36.520> you<00:43:37.040> everything<00:43:37.280> is<00:43:37.440> calculated
• it up for you everything is calculated it up for you everything is calculated towards<00:43:38.280

Keywords: 912, senate, all

Summary: The committee heard several measures on agriculture, energy, stadium governance, and hotel consumer protections. On SB 448 relating to agriculture, Agra Business Development Corporation and the Hawaii Farm Bureau testified in support of a proposed conservation easement acquisition in Central Oahu; the chair asked follow-up questions about the exact location, cost, and agricultural potential of the land, and the witness said the parcel had good soil and water and was former pineapple land, with cost still to be provided. On SB 827 relating to meat processing, the Department of Economic Development and Tourism said the state needs more meat-processing capacity and that any grant program should complement, not compete with, existing efforts; the Attorney General’s office warned the bill lacked legally sufficient standards for grants of public money under the state constitution and offered draft standards. Several industry and chamber witnesses supported the measure, while discussion focused on the need for brick-and-mortar or modular facilities, infrastructure costs, federal inspection needs, and access for hunters and neighbor islands. The committee then took up SB 1269 relating to geothermal resources, which drew broad support from county officials, energy consultants, utility representatives, and community advocates, with one witness opposing it. Supporters described geothermal as a viable, indigenous, firm baseload energy source that could help reduce Hawaii’s high electricity costs and support clean energy goals; one witness emphasized prior work in New Zealand and another urged the state to move forward with exploration. A DBEDT representative explained that the department is coordinating geothermal-related work with the Hawaii Technology Development Corp., the University of Hawaii, and the Hawaii State Energy Office, noting a prior $3 million appropriation, phase-one community engagement work, and plans to seek a contractor for geoscience and exploration in phase two. Members pressed DBEDT to explain how this bill fits with other geothermal measures moving through different committees, and the chair asked the department to review SB 993 and better coordinate the package of geothermal bills. On SB 1337 relating to the Stadium Authority, the stadium manager testified in support of clarifying quorum rules, explaining that the authority currently has eight seated voting members out of nine possible voting seats and that the bill would help ensure voting members are counted for quorum; he said meetings have not been delayed. Finally, on SB 883 relating to hotels, the Attorney General’s office raised First Amendment and contract-law concerns and recommended adding a purpose statement and a non-impairment savings clause. Unite Here Local 5 and other supporters said guests should be notified of hotel service disruptions such as construction, closures, or labor disputes, while opponents questioned who would enforce the law, what penalties would apply, and whether the measure could require hotels to pay damages even without a complaint. No votes or final committee actions were taken in the portion of the hearing provided.

Transcript Highlights:

• cannot provide us with granular export data for these net metered generators, which is required to calculate
• bill credits for the to calculate bill credits for the exported<00:13:01.160> energy.
• certain amount that is placed on the importation of all fuels and that we very carefully kind of calculate
• c><00:40:48.040> of and that we very carefully kind of and that we very carefully kind of calculate
• what that rate is so that we calculate what that rate is so that we can<00:40:51.160> sustain

Keywords: 1191, senate, all

Transcript Highlights:

• based on our calculator is 1.3%, which means the percentage amount should be rounded up to 2% to satisfy
• <00:59:27.599> based<00:59:27.839> on<00:59:28.000> our percentage calculation
• based on our percentage calculation based on our calculator<00:59:29.359> is<00:59:29.799>
• 1.3%<00:59:30.799> which<00:59:31.040> means<00:59:31.200> the calculator is
• 1.3% which means the calculator is 1.3% which means the percentage<00:59:31.839> amount<00:59

Keywords: 912, senate, all

Transcript Highlights:

• technical amendment on Thursday that changes the allocation of this new AIS fee money to better calculate
• /c><00:16:21.600> um<00:16:21.959> to<00:16:22.959> better<00:16:23.279> calculate
• AIS new fee money um to better calculate AIS new fee money um to better calculate the<00:16:24.320
• Chair, Senator Drazkowski, I ran my calculator. It doesn't work very often either.
• It doesn't work very calculator work. It doesn't work very often<02:24:20.720> either.

Keywords: 1187, senate, all

Transcript Highlights:

• This was due to a calculating error at MMB, as they were over the last several years between the correlation
• due<00:07:24.800> to<00:07:25.120> a<00:07:25.280> a<00:07:25.599> calculating
• <00:07:26.240> error<00:07:27.440> um<00:07:28.160> at was due to a a calculating
• error um at was due to a a calculating error um at the<00:07:29.360> MMB<00:07:30.000> as<
• are right, between my if my calculations are right, between the<02:10:34.480> arts<02:10:34.800

Keywords: 1187, senate, all

Transcript Highlights:

• They advertise it, meaning spread out the payments calculation over 20 or 30 years.
• They advertise it, meaning spread out the payments calculation over 20 or 30 years.
• over 20 or 30 payments calculation over 20 or 30 years. years. years.
• They advertise it, meaning spread out the payments calculation over 20 or 30 years.
• They advertise it, meaning spread out the payments calculation over 20 or 30 years.

Keywords: 1187, senate, all

Transcript Highlights:

• and the services and what the school district is providing to a student needs to be reasonably calculated
• :24:04.279> reasonably a student needs to be reasonably a student needs to be reasonably calculated
• for<00:24:06.120> that<00:24:06.440> individual<00:24:07.159> student calculated
• for that individual student calculated for that individual student to<00:24:08.080> make<00:24
• pupil special education funding than most other states, just based on how the formula has been calculated

Keywords: 1187, senate, all

Transcript Highlights:

• >> I've not done that calculation. I know I was around when the 3% was chosen.
• Um, it's not clear how this calculation should occur, and while direct subsidies are quantifiable, indirect
• Um, it's not clear how this calculation Um, it's not clear how this calculation should<05:41:03.200
• This excludes government subsidies from the cost calculations and accounts for the full life cycle cost
• <06:13:24.798> in<06:13:25.440> the<06:13:25.840> cost as well as calculating

Keywords: 1189, house, all

Transcript Highlights:

• They have no mathematical, no definitive mathematical calculations that can correctly account for all
• They have no mathematical, no definitive mathematical calculations that can correctly account for all
• They have no mathematical, no definitive mathematical calculations that can correctly account for all
• They have no mathematical, no definitive mathematical calculations that can correctly account for all
• They have no mathematical, no definitive mathematical calculations that can correctly account for all

Keywords: 1189, house, all

Transcript Highlights:

• or doesn't have the moral calculators or doesn't have the moral aptitude<03:35:06.479> to<03:
• We calculate over that 30-year, they cost society about $100,000.
• We<03:44:00.720> calculate<03:44:01.760> over<03:44:02.080> that<03:44:02.479>
• > 30-year,<03:44:03.199> they We calculate over that 30-year, they We calculate over that
• It just requires us to do hard things and stop living behind folklore and start living behind a calculator

Keywords: U.S. House of Representatives Floor Proceedings on Thursday, March 19, 2026, 1012, house, all

Transcript Highlights:

• And does most of the tax software and the restaurant software automatically calculate that?
• And does most of the tax software and the restaurant software automatically calculate that?
• And does most of the tax software and the restaurant software automatically calculate that?
• You don't have to break out the calculators and slide rules to figure it out.
• out the calculators and slide rules<00:36:09.200> to<00:36:09.359> figure<00:36:09.520

Keywords: 1189, house, all

Transcript Highlights:

• The bill also fails to clarify who would analyze and calculate these costs or how the information will
• 01:44:19.760> would<01:44:20.040> analyze<01:44:20.560> and<01:44:20.800> calculate
• <01:44:21.360> these who would analyze and calculate these who would analyze and calculate
• asked whether, if this bill would force them to use an artificial and unsubstantiated method to calculate
• Maguire continued that if the bill would force them to use an artificial and unsubstantiated method to calculate

Keywords: 928, house, all

Summary: The House opened with prayer, the Pledge of Allegiance, the national anthem, leaves of absence, guest introductions, and memorial remarks honoring former Representative Carolyn Gargas of Hollis, who was remembered for her long House service, work on child and family issues, and community involvement. The House then adopted a consent calendar and approved a motion to withdraw House Bill 431, which would have created a commission to review draft rules on minimum standards for public school approval and state academic standards; the motion failed after a roll call vote, so the bill remained in play. The House next took up House Bill 109-FN, relative to false reports to law enforcement. The majority supported the bill as a way to add penalties for knowingly false reports about law enforcement officers, arguing officers deserve protection from false accusations and that the knowingly standard is a high bar. The minority opposed it as duplicative of existing law and warned it could chill legitimate complaints against police. After debate and a division vote, the majority committee report of ought to pass was adopted, 198-173. The House also considered House Bill 218-FN, which would provide victims of crime a free police report. The committee amendment changed the bill so victims would receive a written confirmation that a crime occurred rather than the initial police report, to avoid conflicts with right-to-know law and active-investigation confidentiality. Supporters said the change was a small but important clarification agreed to by law enforcement and domestic violence advocates, while opponents argued the original language was already workable and that the floor amendment was unnecessary. A division vote was requested on the amendment, and the transcript ends during that debate before the final outcome on HB 218 is shown.

Transcript Highlights:

• And so I do not know how the calculations happen, but what They have on record for themselves internally

Keywords: 914, all

Transcript Highlights:

• awarded under any federal first-time home buyer grant program from taxable income for the purpose of calculating

Keywords: 993, senate, all

Summary: The Senate Committee on Housing, Construction and Community Development met on February 10 and reviewed a largely recurring housing agenda, with the chair noting the meeting had been moved to Tuesday because of train delays and that a housing budget hearing was scheduled for February 25. Several bills were taken up that had passed the Senate in prior sessions or had been reported before, including measures on manufactured home park rent increases, first-home savings and grant programs, a mobile/manufactured home replacement program, closing-cost assistance for low-income tenants, protections against eviction for certified medical marijuana use, senior and disabled persons protections, fire code and housing standard penalties, a Manufactured Home Community Preservation Act, a public housing painters apprenticeship program, veterans with service-related disabilities receiving preferences in affordable homeownership programs, and a senior housing task force. One bill on an affordable independent senior housing assistance program was held at the sponsor’s request. Testimony and discussion were limited, with most bills moving on sponsor motions and seconded by other senators. There was brief clarification on the closing-cost assistance bill that it was intended for renters in public or subsidized housing, not people living with parents. Senators generally supported the measures, though some members voted in the negative or to advance without recommendation on several bills. Actions taken included reporting multiple bills either to the floor or to the Finance Committee. Among those reported to the floor were the manufactured home park rent bill, the medical marijuana eviction protection bill, the senior/disabled persons bill, the fire code and housing standards penalties bill, the veterans homeownership preference bill, and the senior housing task force bill. Bills on first-home savings, manufactured home replacement, closing-cost assistance, the first-home grant program, the Manufactured Home Community Preservation Act, and the public housing painters apprenticeship program were reported to the Finance Committee. The committee then adjourned.

Transcript Highlights:

• Senate Bill 2601 also prohibits insurers from factoring claims for damages into insurance rate calculations

Bills: SB2601

Keywords: landowner compensation, border crime, agriculture damage, law enforcement, crop loss, 1185, senate, all

Summary: The Senate Committee on Border Security met with a quorum and heard one bill, Senate Bill 2601 by Senator Blanco, laid out by Senator Hinojosa of Hidalgo. The bill amends the Landowner’s Compensation Program, which was created last session and is administered by the Office of the Attorney General, to expand eligibility to land lessees, cover damage to the land itself as well as structures and real property, add continuous smuggling of persons as a covered border crime, prohibit insurers from using claims under the program in rate calculations, and require law enforcement to provide border crime reports to the Attorney General within 14 days. The committee substitute also makes the bill a legislative council draft. Public testimony was unanimously supportive. Representatives of the South Texans Property Rights Association and the Texas and Southwestern Cattle Raisers Association said the program has helped landowners but needed cleanup and broader access, especially for lessees who manage property day to day and may otherwise not receive compensation. Testimony also emphasized ongoing problems with fence damage, debris, pollutants, and other border-related property damage. Members asked about implementation, including how conflicts between landowners and lessees would be handled; the response was that documentation of authority and lease responsibilities would be required. After public testimony closed, the committee adopted the committee substitute without objection. Senator Hinojosa then moved that SB 2601 be reported favorably to the full Senate with the committee substitute, and the motion passed on a 5-0 vote. The bill was also recommended for the local and uncontested calendar, with no objection.

Transcript Highlights:

• Representative Steeman and Chairman Nelson, the stuff that I went over on Tuesday, I did the manual calculations

Keywords: 908, all

Summary: The committee met to review Department of Corrections and Rehabilitation budget items, with Representative Steeman asking for clarification on FTE counts and dollar amounts in several line items. DOCR officials explained that the Hart River Correctional Center request was reduced from 26 new FTEs to 7, focused on pre-opening staffing such as security leadership, HR, staff development, warehouse support, and a dentist and dental assistant to address a long dental waiting list. The MRCC temporary housing unit line was adjusted from 7 FTEs to 12.5 FTEs to add case management, treatment, nursing, and maintenance staff, while pretrial, corrections temporary positions, education services, and maintenance items remained unchanged. The Grand Forks line was reduced from 31.5 FTEs to 4, with the remaining staffing tied to case management and treatment rather than full facility operations, and officials estimated that personnel cost at about $670,000. Members also discussed how the staffing changes would be viewed against the closure or transition of Dakota Women's Correctional and Rehabilitation Center in New England. DOCR said the comparison would not be apples-to-apples because Hart River will expand from a 126-bed to a 304-bed facility with more services, and because Dakota Women's staff are not state employees and therefore not counted as state FTEs. Officials noted anticipated efficiencies through shared services such as warehousing, commissary, laundry, kitchen, medical, and dental support across facilities, but acknowledged those savings would be difficult to quantify. The chair thanked the witnesses, noted the committee would return later to address amendments and the bill, and then recessed the meeting.

Transcript Highlights:

• It includes changing the calculation of funded credit full-time equivalent students incorporated into
• We don't finalize the calculation of Prop. 98 until the spring of the year in which the fiscal year is
• So when we calculate next spring at the 2027 May Revision, 33% of revenues that are above the amounts

Summary: The Assembly Budget Committee met to consider the final three-party agreement for the 2026-27 state budget and 19 implementing bills, including two budget bill juniors and 17 trailer bills. Committee leadership and administration officials described the budget as a balanced plan that reduces out-year structural deficits, maintains large reserves, and makes major investments in health care, education, housing, child care, public safety, and other core services while also responding to expected federal cuts and fiscal uncertainty. The Department of Finance outlined the package’s major components, including Medi-Cal adjustments, education funding increases, higher education changes, child care and human services updates, housing and homelessness funding, energy and transportation provisions, and tax and general government changes. Members asked questions about several provisions, including CSU enrollment targets and turnaround plans, the Prop. 98 settle-up mechanism, the plastics market development payment program, housing accountability measures, NextGen 9-1-1 implementation, and veteran services. Staff and administration witnesses explained that the higher education language is intended to improve campus-by-campus reporting and oversight, that Prop. 98 settle-up would be finalized later through the statutory certification process, and that NextGen 9-1-1 now includes one-time funding, quarterly reporting, an independent technical review, and a state audit. Members also discussed the HAP homelessness funding increase to $900 million and the balance between accountability and timely distribution of funds. The most extended exchange centered on comparisons between funding for veterans and Medi-Cal/immigrant health coverage. Republican members argued the budget spends far more on undocumented immigrant services than on veterans, while Democratic members and Finance staff responded that the comparison was misleading because many veterans’ services are federally funded and the state budget also includes dedicated veteran support. The chair and other members emphasized that the budget reflects difficult tradeoffs and that the package protects vulnerable populations, preserves health care access, and advances affordability. No final vote was described in the excerpt, but members indicated support for the overall package and said they would support it on the floor.