Transcript Highlights:

• . 78% did not use a financial advisor.
• Financial advisors are designed to help get you better fees.
• You do know it's public information if a financial advisor was used.
• Representative Gutierrez asked whether hiring a financial advisor would necessarily change what is reported
• report and I'm happy to answer any questions.

Committee: House House Education Committee of Reference

Summary: The committee heard and advanced several school-related bills, with much of the discussion focused on governance, transparency, and accountability in school districts. House Bill 2318 would impose term limits on school district governing board members in districts with at least 250 students, while allowing county superintendents to appoint a term-limited member to fill a vacancy. Supporters argued it would bring fresh ideas and prevent entrenched leadership; opponents said voters should decide. The bill received a due pass recommendation after a divided roll call. House Bill 2312 would allow certain patriotic youth groups to address students during school hours and require equal access for those groups in school forums. The sponsor said it was intended to promote programs such as FFA, Scouts, and similar organizations. Some members objected that it would take instructional time and was not truly permissive if access was granted to one group, and the bill nonetheless received a due pass recommendation. House Bill 2320 would require school districts to hire a registered independent municipal advisor before calling a bond election and for each successful bond issue. The sponsor and supporters said this could reduce underwriting fees and save taxpayers money, while some members raised questions about costs if a bond failed and whether the bill should be narrowed; it passed with a due pass recommendation after several members voted present or no. The committee also approved House Bill 2376, which would bar districts from buying or leasing school property while a charter or private school is still operating there, and House Bill 2378, which tightens conflict-of-interest rules for the School Facilities Oversight Board by barring the architect and engineer members from having school-construction business. Both were framed by the sponsor as responses to concerns raised in Tolleson Union-related testimony and reporting. House Bill 2379, as amended, requires school board members to complete biennial training approved by the Auditor General, to be offered by county superintendents or ADE, with counties able to contract with others; supporters called it needed training, while opponents raised concerns about unfunded mandates, inclusion of ASBA, and charter schools. It received a due pass recommendation. Finally, House Bill 2380 would require board and subcommittee meetings to be held in-district, preserve online access to materials, and require public approval of out-of-state travel, with reimbursement if retroactive approval is denied. Rural districts and others raised concerns about flexibility, executive-session confidentiality, and administrative burden, but the bill was discussed with amendments and public access concerns rather than a final recorded action in the excerpt.

Transcript Highlights:

• AB 1660 does not impose new duties on financial institutions.
• AB 1660 does not impose new duties on financial institutions.
• AB 1660 does not impose new duties on financial institutions.
• It's a lot of banks and financial institutions.
• So it's the committee staff just to get on that report.

Committee: House Judiciary

Transcript Highlights:

• report.
• Minority floor uh committee report Minority Report<00:29:52.600><c> uh</c><00:29:52.760><c> make</c>
• You may have heard the annual comprehensive financial report.
• report.
• </c> other components of the annual financial other components of the annual financial report<01:08:42.520

Summary: The Finance Committee met for an organizational opening session in which the chair, Ken Weyler, called the committee to order and members introduced themselves. The introductions established the committee’s leadership and membership, including Vice Chair Dan McGuire, ranking member Mary Jane Wallner, deputy ranking member Karen Eil, clerk Jerry Griffin, and other members from both parties. Many members briefly described prior legislative service and professional backgrounds, with several noting prior experience on Finance or related budget committees. Chair Weyler then outlined committee procedures and expectations. He emphasized that Finance handles spending bills and fiscal notes, that bills will generally be heard by the full committee and then referred to the appropriate division, and that executive sessions may be used to save time when positions are clear. He reviewed rules on attendance, dress, phones, paperwork handling, committee replacements, conflict of interest and recusal, and the process for testimony, including that members should listen without debating witnesses and that sponsors of bills must recuse themselves from questioning witnesses on their own bills. He also described the committee’s structure and workload, noting three divisions and the role of legislative budget staff. Weyler said the committee would likely see bills from many policy committees that have fiscal impacts, and he encouraged policy committees to find offsets within their own areas rather than assume new spending will be added. No bills were heard and no votes were taken during this portion of the meeting.

Transcript Highlights:

• And reported in CBEDS. Okay.
• is a successful program, as it's shown in the data that's reported in the report.
• The report that you have had, if you've had the opportunity to read the report on strengthening the educator
• And by the most recent reporting year, it's about 74, I think.
• And by the most recent reporting year, it's about 74, I think.

Transcript Highlights:

• </c> be related to increasing financial be related to increasing financial stress<00:09:39.760><c> of
• But this was reported in October.
• But this was reported in October.
• But this was reported in October.
• But this was reported in October.

Summary: Minnesota Management and Budget Commissioner Aaron Campbell, State Economist Dr. Tony Becker, and State Budget Director Anna Mingi presented the November 2025 budget and economic forecast. Campbell said the state now projects a nearly $2.5 billion surplus at the end of the 2026-27 biennium, about $575 million better than the end-of-session estimate, but also a projected negative balance of about $2.9 billion in FY 2028-29, reflecting a worsening structural imbalance. He said the budget reserve stands at $3.4 billion, with cash flow and budget reserves totaling $3.8 billion after a $244 million addition, and emphasized that Minnesota’s AAA bond rating and reserve policy remain strengths even as future sessions will need to address the long-term gap. Becker said the national economic outlook has changed only modestly since February, but growth remains below trend through the forecast horizon. He cited slower consumer spending, weak private investment, continued tariff uncertainty, lower projected immigration, and modest inflation that stays near 3% through 2026 before easing. Revenue forecasts for the next biennium were revised up to $66.3 billion, driven mainly by higher individual income tax receipts and other revenue, partly offset by lower sales and corporate tax forecasts. He also noted risks from federal policy changes, the recent shutdown’s effect on data availability, and possible equity market volatility. Mingi said general fund spending is projected to rise sharply, with current biennium spending up $3.4 billion from end-of-session estimates and planning-year spending up $1.9 billion. She attributed much of the increase to carryforward from prior one-time appropriations, discretionary inflation, and especially Medical Assistance. MA costs are projected to be about $2.5 billion higher over 2025-29, largely because managed care rates rose more than expected due to higher utilization and higher-cost services, including pharmacy costs, while long-term care and disability waiver costs also increased. In response to questions, officials said the federal reconciliation bill had only a relatively small effect on the health care changes, and that the carryforward amounts reflect unspent prior appropriations that now show up in later years rather than new spending.

Transcript Highlights:

• And by your vote, SB 288 is reported favorably.
• And by your vote, CS for SB 364 is reported favorably. Thank you.
• analyst, of which the utility companies have CPAs and financial analysts.
• risk... ...recovery of costs so that that notion of financial risk, regulatory risk is mitigated.
• And by your vote, C.S. for SB 126 is reported favorably. Thank you, Madam Chair.

Committee: Senate Regulated Industries

Summary: The Committee on Regulated Industries met with a quorum and considered four bills, all of which were reported favorably. SB 288 on rural electric cooperatives was presented as a negotiated “glitch bill” to narrow statutory language so co-ops can choose generation and power purchases based on cost and reliability without exposure to lawsuits aimed at banning fuel sources; it was supported by the Florida Electric Cooperatives Association and passed without debate. SB 364 on public accountancy was described as a modernization and licensure-efficiency bill to increase the supply of CPAs; an amendment correcting a drafting error and restoring automatic mobility language was adopted without objection, and the bill as amended was reported favorably. A public comment on the bill was briefly redirected after it appeared to address a different subject. The committee then took up SB 200 on utilities, which addresses solar decommissioning and storm protection plans. Chair Bradley said the bill would authorize counties to require decommissioning plans for utility-scale solar facilities at the end of their useful life, direct DEP to develop best management practices, and require the Public Service Commission to consider whether storm protection plan costs are reasonable relative to expected customer benefits. County and consumer groups spoke in support, and the Small County Coalition said the bill was a needed step that did not restrict solar development; the bill was reported favorably. Finally, the committee considered SB 126 on the Florida Public Service Commission, which was presented as a reform and “glitch” bill and amended to add CPA and financial analyst expertise, require stronger PSC order explanations, tighten intervention requirements, cap returns on equity at the national average for comparable utilities, set periodic ROE review schedules, and require affordability to be considered in rate-related proceedings. The PSC staff deputy executive director answered extensive questions about storm hardening, cost recovery, risk, and affordability. Several members and public speakers supported the bill’s goals but raised concerns about the affordability standard, the ROE cap, and comparisons to other states; others said the bill would improve transparency and accountability. The amendment was adopted, and CS for SB 126 was reported favorably. The committee then adjourned.

Transcript Highlights:

• So, this is just one of those reports.
• It's the capital project status report.
• So, next the report from the Office of Financial Management. We do have action items here.
• So, next the report from the Office<00:26:30.480><c> of</c><00:26:30.640><c> Financial</c><00:26:31.039
• </c> office of the financial man management. office of the financial man management.

Summary: The committee first handled routine business, including approval of the June meeting minutes and receipt of several correspondence and information reports. Those reports covered quarterly capital project status updates from state agencies and postsecondary institutions, lease modifications, asset preservation projects, school district debt issuances, and Kentucky Communications Network Authority budget history materials. Members also raised questions about a long-open stream mitigation account and were told the funds are fee-in-lieu stream mitigation monies administered through Fish and Wildlife, with staff promising to follow up on the specific project. The committee then reviewed and approved several capital project actions. These included a new Camp Oralis dining hall project for the Department of Fish and Wildlife Resources, explained as a reauthorization because the funding split changed to 64% federal and 36% agency funds; an appropriation increase for the Shelbyville armory addition due to higher construction costs and security requirements; and emergency repair projects for Fort Boonesboro flood remediation and the Kentucky State Police Supply Branch fire damage. Members also approved a tenant improvement fund request for parking garage safety improvements at the Mayo Underwood Building. The Office of Financial Management presented three Kentucky Infrastructure Authority items and one Cleaner Water Program reallocation. The loans included a Shepherdsville sewer/drainage project and two Auburn water and lead service line projects; the grant reallocation involved unused Cleaner Water Program funds, with staff emphasizing that all ARPA-funded cleaner water dollars must be spent by December 31, 2026 or returned. After discussion, the committee approved the package. The committee also approved six Economic Development Fund grants, and the Cabinet for Economic Development began presenting the first six KPDI projects, though the transcript cuts off before those project details were completed.

Transcript Highlights:

• And I'm here particularly to report on the annual report, which is a report that the department is mandated
• And I'm here particularly to report on the annual report, which is a report that the department is mandated
• And I'm here particularly to report on the annual report, which is a report that the department is mandated
• And I'm here particularly to report on the annual report, which is a report that the department is mandated
• </c> this report illustrates. this report illustrates.

Bills: HF3707 , HF3732 , HF2581 , HF3731

Committee: House Workforce, Labor, and Economic Development Finance and Policy

Summary: The committee first adopted the minutes from February 26 and then heard House File 2581, authored by Representative Frazier, which sought $1 million for Fortis Capital, a nonprofit economic development lender. Frazier and Fortis CEO Brian Smith described Fortis as a gap-financing lender that helps underserved entrepreneurs who cannot meet traditional bank underwriting standards. They said the organization has made 37 loans totaling more than $4 million since 2021, leveraged another $29.5 million, and created 314 jobs. Smith said Fortis typically charges around 6.5% interest, has had two defaults, and uses a revolving loan fund model that recycles repayments; members discussed how the proposal fits with other state economic development programs and whether Fortis should instead be part of a competitive grant process. The chair laid HF 2581 over for possible inclusion in a budget bill. The committee then heard House File 3707, brought by Representative Berg, which would extend confidentiality protections to unemployment insurance and paid leave judges and related staff by adding them to the definition of judges for purposes of protecting personal information. Berg and testifiers from the Department of Economic Development and MAPE said the bill responds to harassment and safety concerns, including threats, doxxing, and an attack near an office, and is intended to protect people making sensitive determinations. MAPE supported the bill as an update to existing protections for similar workers. Members raised concerns that the bill’s language was too broad, especially the reference to the paid leave division, and questioned whether it should cover only judges or also call-center and other staff. Department and committee members agreed the language likely needed narrowing and discussed possible amendments and whether to move the bill to Judiciary and then revisit it. No final vote was taken on HF 3707 during the discussion, and the bill remained under consideration for further language work.

Transcript Highlights:

• Senate Bill 964 revises requirements for reporting of certain gifts and honoraria.
• The Commission's recommendations clarify that reporting individuals file paper forms.
• By your action, the bill is reported favorably. Thank you, Senator Wright.
• By our action, the nominees have been approved and will be reported favorably to the Senate.
• By our action, the nominees have been approved and will be reported favorably to the Senate.

Committee: Senate Ethics and Elections

Summary: The Ethics and Elections Committee met with a quorum present and Senator Polsky excused. The committee first considered Senate Bill 964, sponsored by Senator Wright on behalf of Senator Linda Stewart, which revises reporting requirements for certain gifts and honoraria. The bill implements Commission on Ethics recommendations to clarify that reporting individuals must file Form 10 paper forms with the Commission, rather than attaching them to electronic financial disclosures. Carrie Stillman, executive director of the Ethics Commission, testified in support, explaining that the change will align the statute with current filing practice and allow the Commission to update its rules and forms. After brief discussion and no opposition, SB 964 was approved unanimously and reported favorably. The committee then took up Tabs 2 through 15, a group of confirmation appointments that had been provided in advance and were not requested for separate consideration. On motion and second, the committee approved all of the nominees together by unanimous roll call vote and reported them favorably to the Senate. With no further business, the committee adjourned after a final motion to rise was adopted unanimously.

Transcript Highlights:

• Freiberg has made a motion to report H.R. 17 as amended. Committee, Rep.
• I would love to get some of that financial support.
• HB 406 will be reported favorably. Thank you, Madam Chairman. Thank you, members.
• Staff, if you could please read in the bill. motion to report HB 406 favorably.
• He said they worked very well with the department on financial education.

Committee: House Education

Summary: The committee heard several higher education and K-12 bills centered on TOPS, school accountability, and curriculum alignment. It first welcomed University of Louisiana at Lafayette’s new president, Ramesh Kuluru, who spoke about student success, workforce alignment, and the university’s financial recovery. The committee then adopted amendments and reported HR 17 favorably, directing a study of TOPS return on investment with the Board of Regents, Louisiana Works, LED, and the Blanco Public Policy Center. Testimony from business and policy groups supported the study as a way to assess whether state financial aid is producing workforce and retention outcomes. Members then considered HB 385 by Rep. Bamberg, which would require repayment of TOPS awards under certain circumstances when students lose eligibility, with exemptions for hardship and a pathway into LCTCS or career-technical programs. The bill drew strong debate over whether merit scholarships should ever be repaid; opponents argued TOPS is earned for the semester and should only be lost going forward, while supporters emphasized taxpayer accountability. After amendments, the committee narrowly approved the bill by roll call vote, with Chair Schlegel casting the deciding yes to report it favorably as amended. The committee also unanimously reported HB 1058 favorably, which requires the Board of Regents to maintain a uniform data system for state financial assistance; independent colleges and business groups supported the measure as a way to improve accountability and analysis. The committee next heard HB 406 by Speaker Pro Tem Johnson, which asks the Department of Education to study the feasibility of moving oversight of interscholastic athletics to a more accountable model after a legislative study found widespread complaints about the private LHSAA’s transparency and consistency. Supporters said the bill is a cautious step toward reform and a possible 2028–2029 transition, while an LHSAA representative defended current audits and governance and opposed the premise of the bill. Despite objections, the committee reported HB 406 favorably. It then heard HB 787 by Rep. McMakin, as substituted, which would exempt non-public high school students from the TOPS computer science requirement; BESE and the Department of Education opposed the bill, saying it would separate diploma and TOPS requirements and create scheduling confusion, while Catholic school representatives said the requirement conflicts with their theology curriculum. McMakin asked to defer the bill for two weeks. Finally, the committee unanimously reported HB 1059 favorably, which aligns TOPS math requirements with BESE’s integrated math pathways, and began hearing HB 1021 by Rep. Egan on repayment of certain TOPS awards, though the transcript cuts off before that bill was completed.

Transcript Highlights:

• you've hit some of these milestones, the previous reporting requirements?
• The way I understand this bill is it's a timing of the report.
• You know, even our financial software is already dated here, as you folks understand.
• all together, which would give you an accurate financial report, and that right now is not in place.
• </c> That would give you an accurate financial report, and that right now is not in place.

Committee: House Public Safety

Summary: The Committee on Public Safety heard testimony on several bills. HB 628 HD1, relating to education, would reinstate a prior law allowing veterans whose high school education was interrupted by wartime to receive a diploma. Testimony was generally supportive from the Office of Veterans Services, the Department of Education, the Hawaii Military Affairs Council, and an individual testifier, with one person in opposition. The committee later recommended passage of HB 628 HD1 as is, and the motion was adopted. The committee also heard HB 1158 HD1 and HB 1159 HD1, both relating to commercial harbors. HB 1158 HD1 concerns firefighting at commercial harbors and drew support from the Department of Transportation; the committee recommended passage as is and adopted the recommendation. HB 1159 HD1 would require masters or persons in charge of vessels to comply with a Harbor Master’s order to evacuate a commercial harbor during emergencies. Testimony included support from Hawaii Emergency Management Agency, the Department of Transportation, and comments from the Hawaii Harbor Users Group. Members raised concerns about small boat operators and safety, and the committee passed the bill with reservations. The committee then discussed HB 1262, relating to the Emergency and Budget Reserve Fund, and HB 1296, relating to the major disaster fund. Supporters of HB 1262 included the Climate Advisory Team and AARP Hawaii, while the Department of Budget and Finance cautioned about duplication of benefits with federal disaster aid and the need to preserve the fund’s primary purpose. Members questioned how the bill would interact with federal assistance and whether the fund could be used more broadly; no vote was taken, and the bill was deferred to decision-making. On HB 1296, HEMA and Budget and Finance opposed the measure, citing the need for flexibility in emergencies and concerns that added reporting requirements could hinder response efforts, while the Tax Foundation of Hawaii noted the major disaster fund is much smaller than the EBF. The committee likewise deferred HB 1296 to decision-making, and the meeting adjourned.

Transcript Highlights:

• Our report identified... ...rates and the electricity grid.
• Our report identified four key principles.
• Yeah, I think that I did read the C.A. report. It took a while.
• Are the ratepayers financially responsible for audits?
• The report additionally looked into the reasons for these delays, but the self-reported data from the

Committee: House Utilities and Energy

Transcript Highlights:

• We call it a KTS financial offers assistance.
• We call it a KTS financial offers assistance.
• </c> national leader in our financial national leader in our financial management<00:09:47.440><c> system
• Uh with our financial management system.
• And one of financial offers assistance.

Summary: The committee heard an Office of Education Technology presentation on the Kentucky Education Technology System (KTS) and a request to increase its annual budget from $15.4 million to $30 million, including an additional $14.6 million. The witness described KTS as a statewide service model that provides districts with student information and financial systems, internet bandwidth, regional support, cybersecurity, online registration, learning management and email services, and collaborative instructional technology support. He argued the state’s centralized purchasing saves districts 40% to 60% compared with buying services individually, and said federal internet discounts and district matching funds create a strong return on investment. He also said KTS has faced long-term funding cuts, has not received a cost-of-living increase since 1992, and is now at a “breaking point” where some services may have to be shifted to districts at higher cost. The request was broken into six main items: restoring funding for the computer science and information technology academy; strengthening cybersecurity defenses in response to sharply rising attacks on K-12 systems; funding online registration through Infinite Campus; stabilizing ongoing support costs for Infinite Campus; providing cost-of-living increases for KTS services; and increasing the KTS financial assistance sent to districts, which requires local matching funds. Members asked about the current appropriation, and the witness said it is $15.4 million. One member praised the office’s work and support for districts, while another noted the district had been an early adopter of one-to-one technology. The committee then received an overview of the KRS 156 salary schedule and step-and-rank system for state-operated career and technical education staff at area technology centers. Officials explained that salaries are set under statute and regulation based on years of service and educational rank, with annual calculations tied to statewide teacher salary averages and retroactive adjustments to July 1. They said the current ABR request is $325,000 over the biennium to cover step and rank increases. The presentation noted that KRS 156 salaries are generally comparable to local districts but are less competitive with business and industry, making recruitment and retention difficult, especially for instructors coming from the trades. Members agreed that trade instructors are underpaid relative to the market and said the issue deserves further review, with department officials indicating they are considering possible statutory revisions and a delayed implementation in a future biennium.

Transcript Highlights:

• And the consolidated report requires the reporting unit to submit financial information on each funding
• </c><00:42:13.440><c> This</c> transportation financials report.
• This transportation financials report.
• </c> local transportation financials local transportation financials reporting<00:49:22.960><c> and</
• planning uh reporting uh a uh financial planning uh reporting requirements.<00:52:01.839><c> And</c>

Transcript Highlights:

• Um, in light of all of the Office of Legislative Auditor reports and other reports about the importance
• Um, in light of all of the Office of Legislative Auditor reports and other reports about the importance
• Um, in light of all of the Office of Legislative Auditor reports and other reports about the importance
• > about</c> auditor reports and other reports about auditor reports and other reports about the<00:43
• So, changing the reporting date to July 15th would allow the report to include the most recent grant

Bills: HF2233 , HF1524 , HF1893 , HF1396 , HF2456 , HF2959 , HF2300 , HF2412 , HF3022 , HF2825 , HF1862 , HF1373 , HF1039 , HF3070

Committee: House Judiciary Finance and Civil Law

Transcript Highlights:

• reporting reporting uh<00:19:24.960><c> and</c><00:19:25.200><c> transparency</c><00:19:25.840><c> of
• </c><00:19:26.080><c> reporting</c><00:19:26.720><c> that</c> uh and transparency of reporting that uh
• </c> sound. to meet other financial sound. to meet other financial thresholds.<00:36:28.160><c> Um</c
• </c> annual reporting requirements. annual reporting requirements.
• We'd heard everything from quarterly reporting to annual reporting.

Committee: Senate Health and Human Services

Transcript Highlights:

• Tamara Johnson, Chief Financial Officer with the Secretary of State.
• on the annual comprehensive financial report process.
• reporting to Fiscal.
• reporting book of record.
• The governor's four-day in-office mandate is a financial backslide.

Summary: The Assembly Budget Subcommittee No. 5 heard updates from the Secretary of State, EDD, the State Controller’s Office, CalHR, and DGS on a range of budget proposals and federal policy impacts. Secretary of State Shirley Weber opened with remarks about California’s election system, emphasizing its safety, transparency, high voter registration and vote-by-mail participation, and the office’s response to bomb threats and other election threats. Her staff then presented funding requests for the Cal-Access Replacement System (CARS) and Help America Vote Act/VoteCal activities, describing them as needed to modernize campaign finance and lobbying disclosure systems and maintain election security and voter services. A major portion of the hearing focused on federal election policy, especially the potential effects of a presidential executive order and the SAVE Act. Secretary of State staff said California would face significant, potentially unquantifiable costs if forced to comply, including new burdens on county recorders, county election offices, and the Secretary of State’s office, and warned of voter disenfranchisement, especially for students, seniors, disabled voters, military and overseas voters, rural residents, and people with limited transportation. Members and public commenters strongly opposed the federal proposals and argued California’s current system is functioning well. The committee also heard that federal HAVA funds were not expected to be at risk because the state draws them down into an interest-bearing account. EDD reported on paid family leave, explaining that recent delays were tied to a system transition and increased claim volume, and said it was simplifying applications and adding staff and automation. Public testimony supported expanding paid family leave to chosen family. EDD also said it is prepared for possible unemployment spikes, citing a recession plan, a command center, and recent hiring. The State Controller’s Office requested funding to continue the Fiscal migration project, which would move the state’s accounting book of record to the new system by July 1, 2026; Finance and LAO had no objections, and the committee expressed support for the project’s progress. CalHR presented a proposal for a statewide recruitment, outreach, and education paid media campaign under AB 1511, saying its current advertising budget is too small to reach diverse communities effectively. The final item addressed Governor Newsom’s executive order requiring a return to office on a four-day schedule. CalHR and DGS said they were working department-by-department to assess space, parking, transit, and other logistics, but had not completed a statewide cost analysis. Members and many public commenters criticized the order, arguing it was rushed, costly, harmful to telework benefits, and potentially disruptive to workers, especially those with disabilities, caregiving responsibilities, or long commutes. No votes were taken during the hearing.

Transcript Highlights:

• Reports of committees will be deemed read and amendments adopted.
• Reports of committees will be deemed read and amendments adopted.
• AB 871 will strengthen protections against elder fraud and financial crimes by ensuring financial institutions
• AB 871 requires annual mandated reporter trainings to include clear guidance on reporting suspected financial
• Importantly, it also requires a financial institution to share information about reporting to IC3 with

Transcript Highlights:

• </c><00:36:30.880><c> benefit</c> any benefit you know financial benefit any benefit you know financial
• </c> that Senator Champion has no financial that Senator Champion has no financial conflict<00:56:44.079
• for the financial conflict of interest for the 2025<00:58:24.839><c> bill.
• </c> no make a finding of no financial no make a finding of no financial conflict<00:59:14.559><c> of
• </c> Senator Champion has no financial Senator Champion has no financial conflict<01:00:01.440><c> of

Committee: Senate Rules and Administration - Subcommittee on Ethical Conduct

Transcript Highlights:

• That was in insurers in the reports.
• 00:08:33.240><c> insurers</c><00:08:33.680><c> are</c> those reports, and the insurers are those reports
• </c> maintain the integrity of the financial maintain the integrity of the financial system. system.
• China has a pilot program on central bank digital currencies, and Financial Times reported as this.
• </c> direct threat to that sense of financial direct threat to that sense of financial privacy.<01:09

Summary: The committee met in a special-called session of the Interim Joint Committee on Banking and Insurance and first took up three Department of Insurance regulations tied to House Bill 256, the Strengthen Kentucky Homes program: 806 KAR 22:00, 22:10, and 22:20. Commissioner Sharon Clark said the program would provide $5 million in grants to help homeowners strengthen roofs, with regulations covering eligibility and operations, contractors and evaluators, and reinspections in cases of suspected fraud. A committee substitute to 806 KAR 22:10 was explained as a technical correction to conform to the statutory preference for in-state contractors and evaluators. Representative Hampton moved and Representative Rudy seconded approval of the substitute, and it was adopted by voice vote; the amended regulations were then reviewed. Clark also said the grant money would be distributed statewide rather than targeted to storm-prone areas. The committee then heard an update from Commissioner Clark on mental health parity in response to questions from Representative Pollock. Clark said the department reviews insurer filings and conducts market conduct examinations, but does not have authority over provider reimbursement rates or to require providers to join insurer networks. She said complaints are investigated and, when needed, teams review claims and data on site to check compliance with parity requirements. No action was taken on that discussion. After approving the November 4 meeting minutes, the committee heard testimony on a proposed PIP reform package from Representative Josh Bray, the Kentucky Hospital Association, the Kentucky Justice Association, and State Farm. Supporters said the bill would apply the workers’ compensation fee schedule to most PIP medical claims, keep the $10,000 PIP limit in place while stretching benefits further, reduce balance billing, modernize benefit amounts, and address fraud and delayed billing. They noted hospitals would be exempt from the fee schedule, while hospital-based physical therapy would be included, and said the compromise reflected negotiations among stakeholders. Some members questioned whether exempting hospitals undercut the bill’s purpose and asked about possible rate effects; proponents said they had not done a rate analysis and that the bill could lead to more treatments within the existing PIP limit. No vote was taken on the PIP proposal during this meeting.