Video & Transcript Research : 'amortization'
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NM
New Mexico 2025 Regular Session
IC - Investments and Pensions Oversight Nov 5th, 2025
Investments & Pensions Oversight Committee
Transcript Highlights:
- The amortization period, also referred to as a funding period, as I mentioned, is down to 19 years.
MN
Minnesota 2025-2026 Regular Session
Committee on Jobs and Economic Development - 02/26/25
Jobs and Economic Development
Transcript Highlights:
- So normally when I go to the bank and I get a loan, which I do quite often, they amortize that loan over
- But it might be amortized out over 20 years, and that affects the interest and how it's compounded.
- rate does it reset every month, every quarter, every year, and is the term six years, and does it amortize
NH
Transcript Highlights:
- true, to put it in simplistic terms, that you could either get a long-term loan with significant amortization
- true, to put it in simplistic terms, that you could either get a long-term loan with significant amortization
- true, to put it in simplistic terms, that you could either get a long-term loan with significant amortization
- true, to put it in simplistic terms, that you could either get a long-term loan with significant amortization
NH
New Hampshire 2025 Regular Session
House Finance Division I (01/29/2025)
Transcript Highlights:
- >
was <01:54:47.199>the <01:54:47.400>30-year In 2010, it was the 30-year amortization - The contribution rates have three components: there's the normal cost, there's the payment to amortize
- Then there's the amortization of the unfunded liability, and as you'll see on the next page, that is
- New additions to the unfunded liability since 2017 should be amortized over a shorter period: 20 years
- initial pre-June 30, 2017 unfunded liability and then the other gains and losses that are being amortized
Summary:
The Department of Administrative Services presented an overview of its budget and operations, emphasizing that it is the lowest-spending agency in state government and that its general fund allocation has declined since 2019. Commissioner Arling House explained that DAS also handles back-office functions for several administratively attached boards, which has affected staffing and spending comparisons. He said the department’s current general fund spending is roughly split between retiree health and other operations, and that the presentation was based on adjusted authorized spending rather than the original budget figures.
A major portion of the meeting focused on retiree health benefits and the long-term effort to control costs. Deputy Commissioner Cassie Keane described how the state moved from a projected deficit in retiree health to savings through a series of changes, including higher premium contributions, co-pay adjustments, and shifting Medicare retirees into Medicare Advantage arrangements to capture federal reimbursement. She said the state has about 12,500 retirees and spouses on the plan, with roughly 10,906 Medicare retirees and 1,580 non-Medicare retirees, and that the savings have depended heavily on federal funding and procurement decisions. She also noted that Medicare retirees pay Part B premiums and that the state has grandfathered older retirees from some premium contributions.
Members asked about what the expenditures cover, why the state offers retiree health instead of simply giving retirees a payment to buy coverage themselves, and whether out-of-pocket costs changed under Medicare Advantage. Keane said the plan covers actual health claims or insurance premiums, that co-pays and maximum out-of-pocket limits remain in place, and that the state has no authority to change benefit details without legislative action. She explained that retiree health is a long-standing employee benefit that wraps around Medicare and is not collectively bargained in the usual sense, though its eligibility rules and cost-sharing have been tightened over time to better target the benefit to long-term state service.
The discussion also covered vendor performance problems. Keane said Anthem recently won the contract back from Aetna, but its pharmacy subsidiary, Caroline, caused serious service disruptions. DAS responded by withholding payments, assessing more than $2 million in performance guarantees, and hiring a third-party auditor to review the pharmacy processes. The current contract runs through the end of calendar year 2026, and officials said they are watching federal Medicare Advantage reimbursement changes closely because future savings are uncertain.
HI
Hawaii 2025 Regular Session
AEN-TCA-EIG, TCA-AEN, AEN, AEN DEFER Public Hearings 02-05-2025
Agriculture and Environment
Transcript Highlights:
- Economically, the upfront cost was essentially twice as much, but if you amortize operational cost over
- Economically, the upfront cost was essentially twice as much, but if you amortize operational cost over
Summary:
The joint hearing covered SB 1023, which would create a spay-neuter special fund to reduce pet overpopulation and free-roaming cats, with funding sources including an income tax checkoff. The Department of Taxation had no substantive comment, while the Hawaii Invasive Species Council supported the measure but opposed any trap-neuter-release or re-release approach, saying spay-neuter is important but release does not reduce cats on the landscape. The Tax Foundation of Hawaii raised concerns about creating another special fund and tax checkoff, saying the fund may not meet statutory criteria and could create administrative burdens. The Hawaiian Humane Society strongly supported the bill, arguing the state currently provides little funding for animal overpopulation control and that the measure would help nonprofits and align conservation and animal welfare goals. Several other supporters testified, including a cat sanctuary representative who described the need for a dedicated funding mechanism and a possible Oahu sanctuary to remove cats from sensitive areas. After questions about the effectiveness of trap-neuter-release and the need for alternative management tools, the committees voted to recommend passage with amendments, including blanking appropriation amounts, moving them into the committee report, setting the effective date to July 1, 2050, and noting Budget and Finance concerns; the recommendations were adopted in both committees, with some members voting with reservations.
The hearing then moved to SB 1120, relating to transportation and a clean fuel standard. The Department of Transportation said it supported the intent but wanted more information on economic impacts. Electrify America and Neste supported the bill, saying a clean fuel standard would help finance EV charging, encourage investment, and expand lower-carbon fuel options such as renewable diesel. In response to questions from senators about rural and agricultural transportation needs, witnesses said the standard could support both electrification where feasible and cleaner liquid fuels in the interim for equipment that cannot yet be electrified. DOT also described county transit efforts and said it was working with Maui, Kauai, and Hawaii Island on assessments for zero-emission bus replacement and charging infrastructure. The committees also heard testimony on SB 586, relating to climate change and zero-emission buses by 2045, with the State Procurement Office supporting the intent but suggesting the language be moved to a different statute; DOT said it was providing pass-through funding to counties and had some zero-emission bus purchases and charging stations on order. The discussion emphasized infrastructure costs and implementation challenges, but no final vote on SB 1120 or SB 586 was described in the transcript excerpt.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy May 19th, 2026 at 10:00 am
Select Committee on Pension Policy
Transcript Highlights:
- And this state contribution must be based on a systematic actuarial funding policy that fully amortizes
Summary:
The Select Committee on Pension Policy approved its minutes by roll call vote, then postponed an OSA annual update due to a family emergency. The committee received an Open Public Meetings Act refresher from Assistant Attorney General Kate Adams, who reviewed key compliance points including quorum and serial meetings, notice and agenda rules, executive session limits, public comment requirements, and the consequences of violations. She also noted a litigation hold notice sent to members and provided resources for further guidance.
Staff then briefed the committee on E2 Second Substitute House Bill 2034, which restates and terminates LEOFF 1 on June 30, 2029, creates a restated LEOFF 1 funded by transferred assets, and places excess assets into a pension surplus holding account that could later be used by the state. The bill requires DRS to seek IRS guidance, directs OSA to calculate the transfer amount and assess any future unfunded liability, assigns implementation duties to DRS, OSA, the Pension Funding Council, the State Investment Board, and the Treasurer, and requires two SCPP studies on LEOFF 1 medical benefits and policy oversight. OSA’s actuary estimated the transfer to the surplus holding account at about $3.9 billion under current assumptions and said the bill increases the modeled chance of future state contributions if the restated plan falls below 100% funded; members asked about IRS timing, the 2029 transfer date, and whether the 110% buffer is sufficient.
The committee also received an update on the LEOFF 1 medical benefits study required by the bill. Staff said the study will examine the administration of pension boards and medical liabilities, likely focusing on medical benefits, and will gather anonymized data from local boards, cities, counties, and related agencies over the next three years. Members and public commenters discussed the number and structure of local boards, whether spouses receive medical benefits, and the possibility of regionalizing or consolidating administration. No action was taken, but staff said they would return with milestones and further updates.
Finally, staff outlined a possible Plan 3 study, prompted by DRS, to evaluate whether the original goals of Plan 3 have been met after 30 years. The proposed study would review historical context, member choice outcomes, policy questions, and possible recommendations over a two-year period. The committee also heard an update on new correspondence procedures, including a new online web form, a correspondence log in meeting packets, and removal of correspondence from the public website. During public comment, retiree groups urged the committee to pursue an ongoing COLA for PERS and TRS Plan 1, with interim ad hoc COLAs until then, while LEOFF 1 retirees urged caution about changing the current board structure and emphasized the complexity of medical benefit administration.
FL
Transcript Highlights:
- that they have and then surcharging the 1,000 kilowatt hour and then dividing it by, or basically amortizing
Summary:
The committee met to hear invited presentations on storm recovery and storm protection from the Florida Public Service Commission, Florida Power & Light, Duke Energy, Tampa Electric, Chesapeake Utilities, and the Office of Public Counsel. The PSC reviewed the history of storm restoration financing and utility hardening efforts after major storms such as Hurricane Andrew, the 2004-05 hurricane seasons, Irma, and Michael, explaining storm reserve funds, storm recovery bonds, and the current three-year storm protection plan process. The commission’s role in approving plans and later reviewing prudence of actual costs was emphasized, along with the types of work included in the plans such as vegetation management, pole replacement, undergrounding, feeder hardening, and substation flood protection.
The utilities described their own storm-hardening investments and recent storm performance. FPL said it has spent about $4.9 billion on storm protection and recovery-related efforts, highlighted improved restoration times during Helene and Milton, and said it is expanding undergrounding, feeder hardening, and smart-grid technology. Duke Energy reported more than 40,000 hardened poles and structures since 2021, major gains from self-healing grid technology, and faster restoration during recent storms. Tampa Electric described a roughly $200 million annual storm protection effort, including vegetation management, undergrounding, substation hardening, and new storm surge protections, and Chesapeake Utilities discussed its smaller-scale hardening program, vegetation work, pole replacement, and rapid restoration after Helene in Nassau County.
Committee members asked about how utilities prioritize neighborhoods for lateral hardening, whether maps of planned projects could be shared, how much each utility has spent on undergrounding and hardening, and how reliability comparisons are normalized against the national average. Public Counsel Walt Trierweiler argued that storm recovery and hardening costs fall too heavily on investor-owned utility customers, said the current framework lacks a meaningful cost-benefit or prudence check at the planning stage, and urged broader sharing of storm costs because the benefits extend to the whole state. Senators also discussed whether the commission can review the reasonableness of approved programs and whether future reports or recommendations from Public Counsel would be helpful. No votes or formal actions were taken.
HI
Hawaii 2025 Regular Session
JHA Public Hearing - Thu Feb 6, 2025 @ 2:00 PM HST
Judiciary & Hawaiian Affairs
Transcript Highlights:
- So we respectfully suggest that the deed restriction be amortized over 10 years, but are also open to
- So we respectfully suggest that the deed restriction be amortized over 10 years, but are also open to
- So we respectfully suggest that the deed restriction be amortized over 10 years, but are also open to
- So we respectfully suggest that the deed restriction be amortized over 10 years, but are also open to
Summary:
The committee hearing covered House Bill 279 and House Bill 392, both relating to firearms. HB 279 would restrict carrying or possessing firearm parts except at or between certain locations and in an enclosed container, define firearm parts and prohibited persons, and increase penalties for violations. The Department of Law Enforcement strongly supported the bill, saying it would close a loophole involving disassembled or “ghost gun” parts and help law enforcement charge people who carry weapons in pieces. Most public testimony opposed the measure, with speakers arguing it was unconstitutional, vague, hard to enforce, and would burden lawful gun owners, gunsmiths, and firearm dealers; several also said existing laws already cover the conduct. One supporter, Dennis Dunn, said additional firearm security could reduce theft and suicides. The chair noted the committee had received 270 testimonies on HB 279, with 39 in support, 234 in opposition, and one comment.
The committee then heard HB 392, which would prohibit the possession, transfer, and sale of ghost guns and establish mandatory minimum sentencing for using a ghost gun in a felony. The Department of Law Enforcement and the Honolulu Prosecuting Attorney’s office supported the bill, saying unserialized firearms are difficult to trace and that prosecutors need clear laws to address them. Supporters argued the measure would help prevent untraceable weapons from circulating and align penalties with other firearm offenses. Opponents, including several gun owners and association representatives, said the bill was unnecessary because existing state and federal laws already prohibit unserialized firearms, and warned it could create confusion, criminalize lawful owners of antique or self-built firearms, and be difficult to administer. No votes or final committee action were taken in the portion provided.
NH
New Hampshire 2025 Regular Session
Senate Election Law and Municipal Affairs (04/22/2025)
Election Law and Municipal Affairs
Transcript Highlights:
- if people saw a nickel and then they saw 31 cents, 28 cents, 29 cents, whatever it was for the amortization
- if people saw a nickel and then they saw 31 cents, 28 cents, 29 cents, whatever it was for the amortization
- if people saw a nickel and then they saw 31 cents, 28 cents, 29 cents, whatever it was for the amortization
HI
Hawaii 2025 Regular Session
CPN-EIG, CPN-HHS, CPN DEFER Public Hearings 02-11-2025
Commerce and Consumer Protection
Transcript Highlights:
- It would be amortized over whatever remaining financing term we have.
- It would be amortized over whatever remaining financing term we have.
- It would be amortized over whatever remaining financing term we have.
Summary:
The joint Senate hearing focused primarily on SB 1201, a wildfire measure that would create a wildfire recovery fund and allow securitization for electric utilities. Hawaiian Electric strongly supported the bill, saying it would help protect customers, property owners, insurers, and the broader economy from future catastrophic wildfire liability while improving the utility’s credit profile and lowering financing costs. Support also came from DCCA Consumer Advocacy, the Attorney General’s office on written comments, Ulupono Initiative, Clearway Energy Group, IBEW Local 1260, Par Hawaii, KIUC, the Chamber of Commerce Hawaiʻi, Plus Power, and numerous organizations and individuals. Opponents or commenters raised concerns about the liability cap, victim compensation process, and fund structure, including the Hawaiʻi Association for Justice, the Hawaiʻi Regional Council of Carpenters, and the Hawaiʻi Insurance Council; Henry Curtis of Life of the Land supported the concept of a fund but questioned the catastrophe threshold and whether the fund would be empty without a prudency finding.
Much of the discussion centered on whether the proposed fund would actually help restore Hawaiian Electric to investment grade, with senators comparing the proposal to California’s wildfire fund. Hawaiian Electric said the bill was only one part of a broader process, alongside physical risk reduction and settlement finalization, and argued that without the bill the utility would not regain investment grade. Senators also questioned the proposed $1 billion fund size, the fairness of ratepayer contributions versus shareholder contributions, and whether customers should pay for consulting and administrative costs; Hawaiian Electric said its proposed amendment would remove those consulting-related charges. The company also said the fund would accrue interest and, if unused, could be returned to customers, and that there would be replenishment and supplemental contribution mechanisms if the fund were exhausted.
The Attorney General’s office said it still had further amendments to discuss, and the departments had not yet resolved where the fund should reside administratively, though Hawaiian Electric said it believed DCCA was the appropriate place but was open to alternatives. KIUC requested two amendments. No vote or final committee action was taken during the hearing, and the measure remained under discussion with questions and proposed amendments still outstanding.
TX
Transcript Highlights:
- purpose. does not interfere with general laws governing the calculation of benefits or alter the amortization
- One billion dollars to ERS for a one-time legacy payment to amortize the system. unfunded actuary liabilities
Keywords:
appropriations, budget, state funding, education, healthcare, infrastructure, state budget, mental health funding, education funding, infrastructure improvements, public safety, groundwater, water conservation, financial assistance, Texas Water Development Board, innovation fund, local conservation districts, transportation protection agreement, funeral services, insurance exemption
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Telecommunications, Utilities and Energy Jun 21st, 2026 at 01:00 pm
Joint Committee on Telecommunications, Utilities and Energy
Transcript Highlights:
- And I've seen another estimate indicating that because of the need to amortize such investments, we're
Summary:
The committee heard testimony on a wide range of late-file energy bills, with much of the discussion focused on battery storage siting, gas system expansion, propane consumer protections, gas workforce safety, and a Taunton home-rule petition on water rates for manufactured housing communities. Representative Sweeney urged support for H. 4689 and H. 4690, which would impose a moratorium and setback requirements for lithium battery storage facilities, citing fire risk, proximity to homes, and environmental concerns. Several local officials and residents from Oakham, Tewksbury, and other communities described proposed battery projects near homes, schools, wetlands, and conservation land, while industry and clean-energy advocates argued the bills would effectively block storage development and conflict with state energy goals and existing fire-safety standards.
The committee also heard strong support for S. 2290/H. 3547, a bill to prevent gas expansion near environmental justice communities, from environmental justice advocates, municipal officials, and clean-energy groups. Testimony emphasized rising gas bills, the cost of new pipelines, methane and health impacts, and the need to avoid locking in long-term gas infrastructure costs. Witnesses also discussed related bills on gas workforce safety, gas shut-off valves, and gas meter replacement plans, with labor representatives supporting safety-focused measures and opposing changes they said would weaken inspections, while consumer and environmental advocates argued that some utility replacement practices are unnecessarily expensive and should be reined in to reduce ratepayer costs.
Other testimony included support for H. 3518 on propane gas ratepayer protections, with the witness arguing for clearer contract terms and website price disclosure, and support for S. 2652, which would authorize Taunton to create a separate water billing rate for manufactured housing communities because residents there are effectively paying higher water costs through rent due to a single master meter. No committee votes or final actions were taken during the hearing, and members mostly asked brief clarifying questions or made no comment after testimony.
NM
New Mexico 2025 Regular Session
IC - Legislative Health and Human Services Sep 11th, 2025
Legislative Health & Human Services Committee
Transcript Highlights:
- And then you have your capital costs, depreciation, amortization. Those tend to be very small.
NM
New Mexico 2025 Regular Session
IC - Revenue Stabilization and Tax Policy Aug 14th, 2025
Revenue Stabilization & Tax Policy Committee
Transcript Highlights:
- If you amortize those costs over time, income is a lot lower, a lot more stable.
US
US Federal 2025-2026 Regular Session
Joint hearings with the House Select Committee on the Strategic Competition to examine financial aggression, focusing on how the Chinese Communist Party exploits American retirees and undermines national security. Apr 9th, 2025 at 01:30 pm
Aging (Special) Committee
Transcript Highlights:
- numbers 10 million dollars in developing their product and all the R&D and they're going to have to amortize
Keywords:
Chinese Communist Party, retirement security, investment risks, SEC enforcement, Bipartisan action
Summary:
The meeting primarily addressed concerns regarding the impact of the Chinese Communist Party (CCP) on American investments and the financial security of retirees. The chair discussed legislation aimed at ensuring the protection of American investors against the risks posed by Chinese companies. There was a consensus among the members regarding the necessity to enforce existing policies that require compliance from foreign companies wishing to trade on American exchanges. The discussion included testimony from various stakeholders highlighting the urgent need to limit exposure to the CCP in retirement portfolios. Additionally, there were calls for increased accountability of regulatory bodies such as the SEC to better shield American investors from potential loss.
NH
New Hampshire 2025 Regular Session
House Executive Departments and Administration Work Session on HB 637 (02/06/2025)
Transcript Highlights:
- in actuarial accrued liability by $45 million based on the provision of the bill, which would be amortized
Summary:
The subcommittee met on House Bill 637, which was described as a measure to make whole certain New Hampshire Retirement System retirees who were not included when Senate Bill 57 was incorporated into the 2023 budget. The chair and several members reviewed the bill’s legislative history and fiscal impact, citing estimates that the broader change would cost about $1.4 million to the state and $5.74 million to municipalities, with an actuarial liability increase of about $45 million. The chair argued that the omission of already-retired members was not an oversight but a policy choice made in the Senate, based on the bill’s prospective language and the budget process used in 2023.
Testimony and discussion focused on whether the bill should be treated as a fairness correction or as an expensive policy expansion. Supporters, including retirees and representatives of employee groups, said the language was unclear, the fiscal note did not match the bill’s effect, and the change would unfairly leave out actual retirees who had expected the same treatment as active members. They also argued that the retirement system historically linked benefits to Social Security and that the bill would restore equity for those affected. Opponents emphasized the cost, the prospective nature of the original language, and the view that the Senate knowingly chose not to extend the change retroactively.
After discussion, the chair moved to recommend the bill inexpedient to legislate, and the motion was seconded. Members then heard brief public comments after the motion was withdrawn and reintroduced because of the weather and the public’s travel. At the final vote, the subcommittee recommended inexpedient to legislate on a 3-2 vote, with the chair noting that the full committee would take up other bills at a later subcommittee hearing.
US
US Federal 2025-2026 Regular Session
Hearings to examine defense innovation and acquisition reform. Jan 28th, 2025 at 08:30 am
Senate Armed Services Subcommittee on Personnel
Transcript Highlights:
- which recognizes that in the commercial sector, you have a much broader market around which you can amortize
MN
MN
Minnesota 2025 1st Special Session
Committee on Housing and Homelessness Prevention - 01/30/25
Housing and Homelessness Prevention
Transcript Highlights:
- Same 30-year amortization, 6.875, and it's coming at $24.96.
- Same 30-year amortization, 6.875, and it's coming at $24.96.
- Same 30-year amortization, 6.875, and it's coming at $24.96.
Summary:
The committee heard Senate File 558, a bill to create a formal process for removing unauthorized occupants from real property, often described as a “squatters bill.” The author presented an A2 amendment, which was adopted, and explained that the bill would give sheriffs a structured complaint and verification process, allow fees, provide immunity when the process is followed, and impose civil remedies for wrongful removal and criminal penalties for false complaints. The bill also includes a provision on holdover situations, clarifying that certain unauthorized guests of tenants are unlawful occupants rather than tenants, and a use-of-excess-force provision was mentioned.
Supporters said the measure is intended to give property owners and law enforcement a clearer, faster, and more consistent way to handle situations where people occupy property without a lawful basis, especially in rural or seasonal properties and in some landlord-tenant disputes. Senator Uty read a letter from Hubbard County Sheriff Corey Oas describing recurring problems with rental issues, couch hopping, and subletting without landlord knowledge, and a testifier from Pine Island described several local examples of prolonged and costly occupancy disputes, including a restaurant tenant who stopped paying rent and a rural property trespass incident. Committee members in support emphasized the need to balance tenant rights with property rights and to avoid leaving sheriffs to make ad hoc decisions.
Michael D. from Homeline opposed the bill, arguing that existing trespass and harassment restraining order laws already address unlawful occupants and that the proposal creates due process concerns by allowing removal without a court hearing. He also warned that the bill’s definition of unlawful occupant could jeopardize oral leases, which are allowed under Minnesota law. In response, supporters said the bill is meant to distinguish true landlord-tenant relationships from trespass situations and to provide a workable process consistent with Minnesota law.
At the end of the discussion, the chair announced that Senate File 558 would be laid over for possible inclusion. He also said Senate File 222 would be laid over, Senate File 559 would be moved with a recommendation to pass to the Judiciary Committee, and the fourth bill on the agenda was informational only.
AZ
Arizona 2026 Regular Session
01/20/2026 - Senate Appropriations, Transportation & Technology and House Appropriations Joint Meeting
Transcript Highlights:
- we're doing capital projects long-term, so we're doing roads or we're doing buildings, and then you amortize
Summary:
The committee met to review the governor’s fiscal 2027 budget presentation, with the chair repeatedly asking members to keep questions brief and avoid speeches. The discussion focused first on the overall revenue and spending outlook, including concerns from members that the executive forecast was more optimistic than the JLBC baseline and that the budget appeared to front-load revenue and expenditure growth. The governor’s budget team said the forecast was close to JLBC’s, that the budget was structurally balanced, and that differences were roughly $100 million per year on ongoing revenue. Members asked for follow-up calculations in writing, including the total multi-year gap and the amount of revenue enhancements above base revenues.
A major portion of the meeting centered on tax and fee proposals tied to data centers, water use, and sports betting. The governor’s team defended eliminating the existing data center tax incentive as the removal of a loophole rather than a new tax, arguing the incentive had already succeeded in attracting major investment. They also described a proposed Department of Water Resources fee-setting authority for data centers to support a new Colorado River Protection Fund, and said the proposal would apply to existing and future facilities without a grandfather clause. Members raised concerns about fairness, competitiveness, and whether the changes would require a supermajority vote. The team also discussed increased sports betting fees, saying the revenue forecast did not include dynamic behavioral effects.
The committee then moved through major spending areas, including corrections, public safety, border security, cybersecurity, K-12 education, Medicaid, and developmental disabilities. The governor’s budget includes ongoing funding to prevent correctional officer pay cuts, money to comply with prison health care court orders, probation funding, body-worn cameras, law enforcement staffing, fentanyl task forces, and cyber readiness grants. Members questioned the lack of funding for a prison oversight committee and asked for corrections spending totals over the administration. On border security, the executive said it was seeking about $759.7 million in federal reimbursement for border-related costs and that the governor had met with federal officials, including Secretary Noem and Tom Homan, about the request. In education, the budget proposes renewing Prop. 123, adding K-12 base funding, and issuing $1.5 billion in school facilities bonds over three years; members debated whether the proposal was appropriate and whether Prop. 123 revenues could support the debt service. The meeting also covered AHCCCS cost growth and federal HR1 impacts, with the executive warning of major coverage losses and hospital funding reductions, and DDD funding, where the governor’s team said the budget fully funds services and includes about $120 million in supplemental needs. No votes were taken; the meeting was a presentation and question-and-answer session only.