Transcript Highlights:

• And the House bill establishing a sick leave bank for Aidan Daniels. House No. 4478. Mr.
• Exempting the position of assistant fire chief in the town of Natick from the civil service law.
• And the House bill establishing a sick leave bank for Aidan Daniels. House No. 4478. Mr.
• And an act establishing a sick leave bank for Aidan Daniels. House No. 4478.
• A sick leave bank for Aidan Daniels. House No. 4478.

Summary: The House opened with the Pledge of Allegiance and then took up several Committee on Rules reports. It adopted resolutions commending Plymouth on becoming the 451st International City of Peace and honoring the Massachusetts Pain Initiative for recognizing September 2025 as Pain Awareness Month. The House also adopted orders extending reporting deadlines for the committees on Community Development and Small Businesses, Education, Environment and Natural Resources, Health Care Financing, and Telecommunications, Utility, and Energy. The chamber concurred in a Senate referral sending a petition on modernizing permitting for certain transportation loads to the Committee on Transportation. It also suspended Joint Rule 12 for several petitions, including proposals on pipe-fitting exemptions, Hispanic-serving institutions in higher education, and adding bone marrow and organ donation to the Paid Family and Medical Leave Program. The House then approved a slate of bills for consideration, including measures on gender-neutral election-law language, several Haverhill civil service exemptions, improved headlight safety, a Natick civil service exemption, and a sick leave bank for Aidan Daniels. After suspending Rule 7A, the House gave second reading and ordered several bills to a third reading. It then passed to engrossment local bills concerning the Natick town home rule charter, Rochester governance, and Leicester stabilization funds. On House No. 3392, designating September as PCOS Awareness Month, the House adopted an emergency preamble amendment offered by Representative Walsh and then passed the bill as amended to engrossment. The House also observed a moment of silent tribute requested by Representative Jones for political activist Charlie Kirk, with remarks condemning the killing and calling for civil discourse. Finally, the House adopted an order to meet again Wednesday at 11 a.m. and adjourned accordingly.

Transcript Highlights:

• Brad Banks here on behalf of Evergreen Recovery Centers.
• the most prominent in terms of its service area.
• It's a partnership that will provide for a new food bank.
• We have been providing these services since 1966.
• employment, educational, and social services while building further community.

Bills: HB2295

Committee: House Capital Budget

Keywords: Washington capital budget, supplemental capital budget, capital appropriations, state building construction account, taxable building construction account, climate commitment account, natural climate solutions, housing trust fund, affordable housing, supportive housing, homelessness, manufactured home communities, mobile home parks, school construction, school modernization, school seismic safety, healthy schools, school electrification, SCAP, behavioral health facilities

Transcript Highlights:

• Operating at the beginning of financial services, essential services, and social services.
• Responses, planning frameworks, and custodial services.
• You have to work with the bank.
• And the bank that employers would use wouldn’t be able to increase.
• What happened there was there was a borrower who took bank notes issued by the Bank of Kentucky, owned

Bills: HB246 , HB796 , HB 1056 , HB1544 , HB1846 , HB2001 , HB2618 , HB2625 , HB2869 , HB2898 , HB3069 , HB3114 , HB3157 , HB3228 , HJR98 , HB246

Committee: House State Affairs

Keywords: federal directives, state authority, Tenth Amendment, government enforcement, local governance, gold standard, legal tender, currency, transactional currency, financial transactions, electronic payment systems, state finance, regulatory compliance, electric trucks, charging infrastructure, advisory council, transportation, sustainability, criminal penalties, official information

Transcript Highlights:

• :02.240><c> uh</c><00:21:02.400><c> we're</c> for the banking industry, uh we're for the banking industry
• </c><00:26:58.720><c> which</c> from the commitment uh from banks which from the commitment uh from banks
• </c> impacted. um you know it's we have banks impacted. um you know it's we have banks in<00:36:54.400
• So, you theoretically three service.
• But banks don't have a say communities.

Summary: The Kentucky Housing Task Force met and heard first from the Kentucky Chamber of Commerce, which presented findings from a housing study done with the Home Builders Association. The chamber said housing is now a major economic-development issue, citing survey results that 90% of community leaders said their region could not absorb a major job announcement and 66% said housing is holding back Kentucky’s economy. The chamber described Kentucky’s housing shortage, rising home prices, declining permits since 2008, and the need for more production to support growth. It urged policy changes including zoning and land-use reform, tax incentives, regional approaches, and especially a residential infrastructure fund modeled on Indiana’s low-interest loan program to help communities finance roads and other infrastructure needed for new housing. Members asked about the severity of the problem, workforce shortages in permitting and construction, the loan interest rate, repayment, and whether Kentucky could replicate Indiana’s results; the witness said the issue is a crisis and that the program would be a revolving public-private partnership, likely around 3% interest, with implementation details still to be worked out. The Kentucky Bankers Association then testified that the housing gap is especially acute for households at 80% of area median income and below, which it said represents about 70% of Kentucky’s housing need. It emphasized that the shortage affects both urban and rural counties and pointed to examples such as Rowan County, where workers at major employers must commute long distances because local housing is unavailable or unaffordable. The bankers said high interest rates remain a major barrier and proposed a $20 million bank commitment for a revolving fund tied to tax credits to finance new housing, not refinances. They cited Hope of the Midwest as an example of a successful tax-credit housing model with a long track record and no defaults, and said the proposal would leverage public-private partnerships to create new units. Committee members questioned how the proposed fund would compare with industrial revenue bonds and whether it could be structured like Kentucky’s tobacco settlement fund, with seed money, a review board, scoring criteria, and possible population thresholds to ensure smaller communities benefit. The bankers said the proposal would be another tool for cities and counties, specifically tied to residential infrastructure, and that larger cities should not be able to capture all of the resources. No formal votes or actions were taken during this portion of the meeting.

Transcript Highlights:

• We have programs for teachers, legal service, and other public service, and I'm going to touch a little
• The National Health Service Corps out of the Health Resources Services Agency (HRSA) has both loan repayment
• The Students to Service Loan Repayment Program, and that's another National Health Service Corps program
• Protective Services Division.
• Depending on how many years of service—2, 3, 4, 5, or more years of service—you'll have a larger loan

Committee: House Legislative Health & Human Services Committee

Transcript Highlights:

• Residents are required to provide this information to access essential services.
• Florida is home to thousands of Palestinian Americans with ties to the West Bank.
• to apply only when the service member has federal military service of 90 consecutive days or more on
• member's service component records, and that is the amendment.
• member's service component records, and that is the amendment.

Summary: The Committee on Governmental Oversight and Accountability met with a quorum present and first postponed SB 1650. The committee then heard and favorably reported SB 308, which implements the Florida Museum of Black History task force recommendations by designating St. Johns County as the museum site and creating a board to work with a supporting nonprofit. It also favorably reported SB 7020, which reenacts a public records exemption for certain Department of Agriculture and Consumer Services aquaculture and shellfish production records. Members then considered SB 692 on cybersecurity standards and liability. The bill creates a presumption against liability for private businesses that follow updated cybersecurity frameworks and reporting requirements, and a similar protection for local governments that comply with state standards. An amendment was adopted to prevent local governments from imposing separate cybersecurity standards on vendors and to clarify vendor definitions and effective dates. The Florida Justice Association opposed the bill, raising concerns about local government immunity, the practical effect of the presumption for private entities, and retroactivity, while business and industry groups supported it. After debate, the committee reported the bill favorably as amended. The committee also favorably reported SB 572, which updates ethics law to include legally recognized foster parents and foster children in the definition of relative; SB 1442, which revises the long-range program plan to require more specific performance metrics and agency-specific measures; SB 1106, which replaces references to the West Bank with Judea and Samaria in state agency and educational materials; SB 474, which revises military leave and related benefits for public employees and officials, with three amendments adopted; and SB 350, which revises public records protections for crime victims and law enforcement officers who are victims, including a 72-hour confidentiality period for officers in certain cases. Finally, the committee approved SPB 7032 as a committee bill to shift more fleet management responsibility from DMS to state agencies while preserving reporting to DMS. The meeting ended after members recorded additional votes and the committee adjourned.

Transcript Highlights:

• The Assembly Banking and Finance Committee is now in order. Sergeants, please call absentees.
• However, post-loss insurance payouts are excluded from this requirement, allowing lenders and banks to
• align this new requirement with the California Residential Mortgage Lending Act, which prohibits servicers
• , independent mortgage bank servicers, from holding these escrows in an interest-bearing account.
• thank you for your hyper-focus on not only these crises and issues, but also your preference for banking

Committee: House Banking and Finance

Transcript Highlights:

• So that's the function that FAA does on the commercial service airports.
• The first bill is SB 5989, sponsored by Senator Banke.
• Thank you, Senators Banking and Dozier, for sponsoring this important bill.
• SB 5898 in front of you now is also sponsored by Senator Banke.
• Brad Banks here on behalf of the Association of Counties.

Summary: The committee began with a work session on aircraft fuel taxes, hearing from WSDOT Aviation about the FAA’s aviation fuel tax rules, Washington’s compliance history, and the potential consequences of noncompliance. WSDOT said the state has collected roughly $210 million in aviation fuel taxes since the federal compliance period began, and that FAA has questioned some of the state’s claimed offsets. Members asked about the federal authority behind the rules, who pays the taxes, and whether Boeing is affected. The committee then moved to public hearing on several bills tied to aviation fuel tax revenue. SB 5989 would redirect a small share of state sales and use tax on aircraft fuel to the aeronautics account and require reporting on airport project funding. Supporters, including port, airport, and pilot groups, said it was a measured step toward FAA compliance and airport investment; the bill’s staff summary said it would reduce general fund revenue and increase DOR costs. SB 5898 would redirect hazardous substance, petroleum products, and oil spill-related taxes on aircraft fuel to the aeronautics account. Supporters said it would bring Washington into compliance and help airports, while Ecology, counties, and ports warned it would significantly reduce MTCA and related environmental funding. SB 6240 would create a new noise and air quality mitigation account funded by a portion of hazardous substance tax revenue; airport and aviation groups opposed it as duplicative or noncompliant with FAA rules, while community and environmental advocates from Sea-Tac area cities supported it as a needed mitigation source. The committee also heard SB 6244, which would extend a hazardous substance tax exemption for certain pesticides used in Washington agriculture through 2038. Agricultural and logistics witnesses supported it as important for food security, storage, and competitiveness, and staff said it would have a small revenue loss and administrative cost. SB 6231, a governor-request bill, would repeal the sales tax exemption for data center refurbishments while keeping the exemption for original server equipment; OFM and local government groups supported it as a revenue-raising budget measure, while data center, labor, and business representatives opposed it, warning of lost investment, jobs, and competitiveness. SB 6228 would repeal the preferential B&O rate for prescription drug resellers; OFM supported it as an outdated preference, but pharmacies, wholesalers, and business groups argued the cost would be passed through to pharmacies, hospitals, insurers, and patients and could worsen pharmacy closures. The committee then heard SB 6220, which would narrow and clarify a property tax exemption for nonprofit low-income homeownership property by allowing temporary community use and preserving the exemption when property is transferred to another exempt nonprofit. The sponsor said the bill was intended to let a community land trust host local performances without jeopardizing affordable housing plans. Finally, the committee heard SB 5880, which would allow blood and breath toxicology results to be admissible if tested by ISO/IEC 17025-certified labs, in addition to the state toxicologist process. Seattle’s city attorney supported it as a way to reduce a long toxicology backlog and speed DUI cases, while counties raised concerns about shifting costs to local governments and creating unequal access based on local resources. No votes were taken in the transcript provided.

Transcript Highlights:

• Food banks are a critical lifeline. California families experience food insecurity.
• HR1 cuts to CalFresh have placed additional demands on food banks.
• Specifically, SB 881 extends the farmer-to-food-bank tax credit through 2032.
• The California Association of Food Banks represents 43 food banks that partner with over 6,000 organizations
• 15% tax credit for donating California-grown food to food banks.

Committee: House Revenue and Taxation

Transcript Highlights:

• It's just that bank of money.”
• That just means anytime somebody comes in for a service, we can bill for each individual service that
• That just means anytime somebody comes in for a service, we can bill for each individual service that
• You know, the population breakdown of the fire service in particular, about 4% is the paid services across
• It provides us good customer service.

Committee: Joint Government Finance Committee

Transcript Highlights:

• Residents are required to provide this information to access essential services.
• It will require all Florida state agencies to stop using the term West Bank and replace it with Judea
• Florida is home to thousands of Palestinian Americans with ties to the West Bank.
• to apply only when the service member has federal military service of 90 consecutive days or more on
• member's service component records, and that is the amendment.

Bills: S7020 , S0308 , S0692 , S0474 , S0572 , S1106 , S1650 , S0350 , S1442 , S7032

Committee: Senate Governmental Oversight and Accountability

Summary: The committee heard and voted on several measures. SB 308 on the Florida Museum of Black History was explained as implementing a prior task force recommendation by designating St. Johns County as the museum site, creating a board, and coordinating with a supporting nonprofit; it passed favorably. SB 692 on cybersecurity standards and liability was amended to bar local governments from imposing cybersecurity requirements on vendors beyond generally accepted best practices, and after testimony both for and against, it was reported favorably as a committee substitute. SB 572 updated ethics law to include legally recognized foster parents and foster children in the definition of relative; after a technical amendment and support from the Ethics Commission, it passed unanimously. SB 1442 revised the long-range program plan to require more specific performance metrics and agency-specific measures; it also passed favorably. The committee also approved SB 1106, as amended by a strike-all, to require state agencies and certain educational materials to use “Judea and Samaria” instead of “West Bank,” despite opposition arguing it would impose political language and conflict with federal and international terminology. SB 7020 reenacted a public records exemption for certain aquaculture and shellfish production records and passed with support from the Department of Agriculture and Consumer Services. SB 474 expanded military leave and related benefits for public employees and officials, including members of the Coast Guard and Florida State Guard, and added three amendments before being reported favorably. SB 350, dealing with public records protections for crime victims and certain law enforcement victims, was heavily amended to add time-limited confidentiality for an officer’s name in some cases and then passed favorably after discussion about balancing transparency and safety. Finally, the committee approved SPB 7032 as a committee bill to shift more fleet management responsibilities from DMS to individual agencies, while still requiring data reporting to DMS for legislative oversight. SB 1650 by Senator Gates was temporarily postponed. At the end of the meeting, members recorded votes on selected bills, and the committee adjourned.

Transcript Highlights:

• Um, in in techniques that a bank would.
• Uh, in those rare service to do that.
• services are offered at no cost and services are offered at no cost and confidentially.<00:41:28.960>
• ,</c> we can support the services, we can support the services, infrastructure,<01:35:11.679><c> and<
• </c> old bank building? old bank building? &gt;&gt; Yes,<03:23:32.399><c> sir.

Committee: Joint Appropriations

Transcript Highlights:

• While the Hawaii banks have, in large part, been paying interest on the proceeds, many of the other banking
• </c> proceeds, many of the other banking proceeds, many of the other banking institutions<00:18:02.799
• Uh, the reason it's not necessarily what the bank is requiring.
• </c><00:34:23.040><c> is</c> it's not necessarily what the bank is it's not necessarily what the bank
• Uh sometimes the banks are requiring.

Summary: The committee first took up a short-form administrative licensing measure requested by the administration to correct and clarify renewal provisions in a prior bill. Members raised no questions, and the committee voted to adopt the proposed Senate draft and recommit the bill back to the Commerce and Consumer Protection Committee for a further public hearing. The committee then heard SB 2876 on natural hair braiding, which would exempt natural hair braiders from licensing under certain conditions. The Board of Barbering and Cosmetology said it views hair braiding as within the broader scope of cosmetology, but agreed that people who only braid hair should not need a license because the training and exam requirements are minimal. The board warned, however, that exempting braiders could create consumer protection gaps involving sanitation, training, and enforcement, and noted that related services such as waxing, cutting, coloring, shampooing, and relaxing would still require licensure. Supporters included the Grassroot Institute of Hawaii and the Institute for Justice. The committee also heard SB 2950 on captive insurance and SB 2951 on insurance proceeds. On SB 2950, the Insurance Division opposed the bill, saying captive insurance is designed for formal self-insurance for companies and that allowing captives to insure the public would not fit the existing regulatory framework; a fire survivor advocate supported the measure as a way to expand disaster-related insurance options. On SB 2951, which would require mortgage servicers to follow certain rules for disbursing insurance proceeds after residential damage or destruction, United Policy Holders strongly supported the bill, citing delays in releasing funds and the need to help survivors rebuild, while banking and financial industry groups submitted opposition or comments. Finally, the committee heard SB 2952, SB 2960, and SB 2964, all related to property insurance and disaster recovery. SB 2952 and SB 2960 would extend the time policyholders have after a declared disaster to submit documentation and recover replacement cost value, with supporters arguing that rebuilding after major disasters takes far longer than standard policy deadlines allow and that the bills would improve consumer protection and transparency; the Insurance Division, the Insurance Council, and national insurance groups opposed the measures. SB 2964 would require annual disclosures of replacement cost value and coverage sufficiency; the Insurance Council opposed it as costly and unnecessary because policies already include inflation-related adjustments, while United Policy Holders and fire survivors supported it, saying many homeowners are underinsured and do not understand their coverage.

Transcript Highlights:

• The Committee on Banking and Insurance will now come to order. Clerk, please call the roll.
• Senate Bill 598, funeral, cemetery, and consumer services by Senator Trudeau.
• Florida law governing licensed funeral and cemetery service providers.
• Florida law governing licensed funeral and cemetery service providers.
• , but banks can be subpoenaed and they have to show records.

Bills: S0326 , S0598 , S0632 , S0786 , S1110 , S1256 , S1380 , S1588 , S7042 , S7044

Committee: Senate Banking and Insurance

Summary: The Banking and Insurance Committee met with a quorum present and temporarily postponed SB 7042 on legal tender and SB 1380 before taking up the remaining agenda. The committee first reported favorably C.S. for SB 326, which modernizes Florida’s curator statute in probate law by clarifying when curators may be appointed, what they may do, and what oversight applies. It then reported favorably SB 1256, which standardizes PBM pharmacy audits by requiring uniform audit standards, scope, frequency, penalties, and due process protections for pharmacies; testimony from pharmacists emphasized concerns about conflicts of interest, excessive audits, and disproportionate penalties, while preserving fraud investigations. The committee also reported favorably C.S. for SB 598 on funeral and cemetery services after adopting an amendment that removed provisions on civil damages caps and phasing out direct disposers; the bill updates licensure and contract rules and addresses unclaimed remains. SB 632, which sets insurance requirements for transportation network companies during the period after a ride is accepted but before pickup, was reported favorably despite opposition from an attorney who argued the existing coverage framework should not be reduced. C.S. for SB 786, creating a nonjudicial process to close out undisputed trusts and discharge trustees, was also reported favorably. The committee then took up SB 1110, a major bill expanding Medicaid and private insurance coverage for medically necessary orthotics and prosthetics, including activity limbs, and requiring annual reporting. After adopting an amendment clarifying eligible recipients, the committee heard extensive emotional testimony from amputees, parents, and advocates describing the medical, developmental, and financial importance of prosthetic coverage, and members spoke in strong support before the bill was reported favorably. Later, the committee considered SB 1588, which implements last session’s legal tender law by refining definitions, narrowing custodian provisions, eliminating unnecessary examination requirements, and repealing the sunset clause; members raised questions about verification and anti-money-laundering concerns, but the bill was reported favorably. Finally, the committee approved SPB 7044 as a committee bill to expand public records exemptions to records relating to newly regulated custodians of gold and silver. The meeting concluded with senators recording additional affirmative votes on selected bills and adjourning.

Transcript Highlights:

• I’m the president of James Murphy, the House Chair from the Committee on Financial Services.
• I’m Chief of Financial Services in the House’s office. Welcome.
• Chris Richards, Chief Banking Officer for Mutual Bank Corp., with a mutual holding company for Kippcott
• 5-Cent Savings Bank based in Hyannis and Fidelity Cooperative Bank based in Leominster.
• We have 500 bills between insurance, banking, crypto, health care.

Summary: The House and Senate chairs opened the first organizational meeting of the special commission created by Chapter 238 of the Acts of 2024 to study the future of payments and sales transactions by credit card and the impacts on small businesses. They explained that the commission’s charge includes reviewing payment trends, cashless transactions, credit card fees, mobile payments, buy now/pay later financing, the costs to small businesses of accepting different forms of payment, and the impact of Section 28A of Chapter 140D. No testimony was taken at this first meeting; it was intended to introduce commission members, outline the process, and begin planning future hearings and a final report with recommendations or options for the Legislature. Members discussed possible hearing topics, including business and consumer impacts of credit card fees, surcharges, and gratuities; the legal and regulatory landscape; and policy considerations such as transparency, reporting requirements, and possible limits on fees. Several members supported the commission’s scope and noted the issue’s timeliness, citing the growth of cashless transactions and the burden of swipe fees on retailers and restaurants. One member suggested the commission also consider cryptocurrency in transactions, and another raised the possibility of holding hearings outside the State House to improve access for small businesses around the state. The chairs said the first public hearing is tentatively set for April 8 in Gardner Auditorium, with additional hearings to be scheduled depending on interest and sign-ups. They said testimony may be offered in person, online, or in writing, and that written testimony will be part of the record. The commission also encouraged members and interested parties to suggest experts, topics, and report formats as the study develops. The meeting ended with a motion to close and an affirmative vote to adjourn.

Transcript Highlights:

• ambulance service between the Mott-Mandan area.
• a very limited ambulance service between the Mott-Mand-N area.
• I mean, they are at the debt limit of their local banks.
• And I've tried that to call into our state services with a video phone...
• That includes the appropriation for the Public Service Commission. Correct.

Summary: The committee opened with roll call and a review of special-session procedure: bills would be heard in filing order, with related school-lunch bills grouped together, and any bill advancing would require a motion, second, and majority vote to be introduced. Members also discussed that the committee was functioning much like a delayed-bills committee, with final referral to either Appropriations or Policy depending on the bill’s fiscal impact. The first major proposal was Senator Schibley’s bill to create a narrow, statewide Bank of North Dakota bridge-loan program for struggling nonprofit medical facilities, prompted by Jacobson Memorial Hospital’s financial crisis. He argued the hospital and surrounding EMS services could close without short-term help, while committee members questioned the added language, the population cap, the $10 million fund with $5 million per applicant limit, and whether the program could open the door to future requests. Representative Headland then presented two cleanup bills from the prior property-tax session: one to fix notice and tax-certification issues for local taxing districts, and another to correct how the primary residence credit is applied so taxpayers receive the full benefit rather than counties retaining part of the reimbursement. Members asked about township hearing timing, the estimated $10–15 million annual impact, and whether the credit issue could be fixed retroactively; Headland said the bill was intended to correct the problem going forward. Three school-lunch bills drew extensive discussion. Representative Vetter proposed a small administrative appropriation to add an FTE to help eligible families enroll in the existing free/reduced lunch program, saying the goal was to ensure needy children are signed up and that the state should not subsidize meals for wealthy families. Representative Nathe offered a broader bill mirroring the pending initiated measure but placing the program in statute instead of the Constitution, moving implementation up a year, and funding it with a one-time $65 million from the strategic investment fund; he said this would preserve legislative flexibility and avoid constitutional entrenchment. Representative Dressler proposed raising the state-funded eligibility threshold from 225% to 300% of poverty, arguing it would expand access while still preserving federal reimbursements and encouraging better enrollment systems. Members debated costs, future budget pressure, whether the bills set a precedent for responding to ballot measures, and whether the program should include breakfast and other operational details. Other proposals included Senator Powers’ bill to create a hyperbaric oxygen board and support rural access to hyperbaric chambers for wounds, concussions, PTSD, and other conditions; Representative Tolman’s reporting-requirements bill to force new or expanded programs to justify purpose, alternatives, evaluation methods, and full implementation costs; Representative Frelich’s bill addressing the ongoing redistricting litigation and what happens if the Supreme Court or lower courts alter the current map; and a bill requested by the Public Service Commission and ITD for FERC litigation support and ADA website/document compliance. The committee also heard a rural-health eligibility bill from Representative Twait aimed at steering federal rural health dollars toward rural providers, with questions focused on whether the mileage limits would exclude some communities. One Holocaust education item was deferred until the sponsor could be located.

Transcript Highlights:

• And then the Bank of North Dakota adds 25 basis points to that.
• You add on the 50 basis points for the servicing.
• They purchased 10 one-year CDs at the Bank of North Dakota.
• And we've had good partners with the bank and with Rio and with everybody.
• With that, meeting adjourned. with the bank and with Rio and with everybody.

Summary: The Legacy Fund Committee received updates from the North Dakota Retirement Investment Office (RIO) on fund performance, liquidity, in-state investments, and internal management. Scott Anderson reported strong returns for the Legacy Fund across multiple time periods, with performance exceeding the policy benchmark and expectations, driven largely by strong equity markets and effective implementation. He also reviewed private market pacing, noting commitments were on plan but that unfunded obligations and distributions were lower than expected, and presented a new liquidity analysis showing the fund had substantial capacity to meet obligations even under stressed market scenarios. The committee also discussed RIO’s internal investment program and cost savings. Anderson explained how internal management of fixed income, equity, and cash overlay strategies has reduced fees and transaction costs, while improving flexibility and portfolio construction. Members asked about staffing needs, and RIO leadership said asset growth has outpaced current staffing, with a request for additional FTEs likely coming to support investment, operations, risk, and legal functions. The committee also reviewed the Legacy Fund’s in-state investment program, including 50 South Capital and infrastructure lending, and heard that one manager’s buildout is progressing more slowly because many opportunities are still early-stage. Adam Odison presented a preliminary estimate of the 2026 Legacy Fund earnings distribution, projecting about $894.8 million under current law, with roughly $237 million to the Highway Fund and $554 million to the Property Tax Relief Fund after the sinking and interest fund allocation. Jody Smith then gave a project update on a new standalone Legacy Fund website required by statute, intended to consolidate performance, holdings, governance, fees, and use-of-funds information for the public, with a planned launch around the October State Investment Board meeting. She also raised a possible future proposal to place the Legacy Earnings Fund back under State Investment Board management so the cash could remain invested longer before being transferred out, though members noted liquidity, accounting, and bank-deposit implications would need further review. Finally, Kelvin Holden of the Bank of North Dakota reviewed the match loan program, explaining how it supports large economic development projects by pairing Bank of North Dakota loans with State Investment Board CDs. He said the program currently has about $272 million outstanding and has supported projects such as Coal Creek Station and the MDU gas line to Gwinner. Members discussed whether the program’s return is appropriate and noted a prior moratorium on new investments so the committee can revisit the policy next session. The committee then elected Senator Klein as chair and Representative Hogan as vice chair, and the meeting ended with members thanking staff and partners for the fund’s progress.

Transcript Highlights:

• Available to authorized repair service providers.
• It's programmable and owned by a central bank, and it gives the...
• Central digital bank currency.
• It includes central bank digital currency, yes. CBDC. Sorry.
• I'm General Counsel with Southwest Service Life.

Bills: HB 106 , HB144 , HB145 , HB252 , HB1732 , HB2221 , HB2467 , HB2468 , HB2517 , HB2518 , HB2963 , HB3016 , HB3689 , HB3960 , HB4386 , HB4490 , HB4751 , HB5247 , HJR175 , HB2213 , HB106 , HB144 , HB145 , HB252

Committee: Senate Business & Commerce

Transcript Highlights:

• -based toll-free consumer service at all times.
• -based toll-free consumer service at all times.
• So it stuck as the West Bank. Today Israel owns that. They control that.
• So it stuck as the West Bank. Today Israel owns that. They control that.
• Now, why is this of West Bank. Now, why is this important?

Bills: SB8 , SB22 , SB137 , HB295 , HB2 , HB343 , HB220 , HB303 , HB81 , SB8 , SB22 , SB137 , HB295 , HB2 , HB343 , HB220 , HB303 , HB81

Committee: House State Government

Keywords: emergency management, public funds, educational materials, state legislation, disaster response, uniformity, state laws, legislative commission, appointments, government structure, resilience, natural disasters, risk management, Alabama Resilience Council, Chief Resilience Officer, state planning, environmental protection, community preparedness, Alabama Office of Civic Engagement, Alabama Office of Minority Affairs

Transcript Highlights:

• Thankfully, bank to withdraw the cash.
• We we recognize the those services.
• That separate a separate bank account.
• It's not requiring banks to simple act. It's not requiring banks to do<00:42:28.319><c> anything.
• That to then charging premium service?

Bills: HF1392 , HF2233 , HF695 , HF2228 , HF1289

Committee: House Commerce Finance and Policy