Video & Transcript Research : 'actuarially sound'

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TX

Texas 89th 2nd C.S.

Finance Apr 2nd, 2025

Finance

Transcript Highlights:
  • This is the last remaining statewide pension system program that is not actuarially sound.
  • This bill will change that and provide a statutory framework for the state to provide an actuarially
  • It would also require the unfunded actuarial accrued liability be determined using an expected investment
  • We have Kinwa, A.J.... framework for the state to provide an actuarially determined contribution, which
  • It would also require the unfunded actuarial accrued liability be determined using an expected investment
Summary: The Senate Finance Committee heard several bills focused on tax administration, transportation, emergency services, historic preservation, forensic training, pension funding, and the state’s rainy day fund. Senate Bill 1337, by Senator Creighton, would require the comptroller to assess penalty and interest only on the net tax due and allow sales and use tax overpayments to offset underpayments more automatically; it was left pending while the author, comptroller staff, and a private witness continued working on the language and fiscal note. Senate Bill 1371, by Senator Hinojosa, would address Corpus Christi transit authority operations, including emergency refueling coordination, fare-setting procedures, and board term limits; it received supportive testimony and was left pending. Senate Bill 1377, by Senator Perry, would create a grant program for rural counties to buy ambulances, with a committee substitute expanding eligible uses in some cases to equipment and setting a sunset date; numerous EMS officials, county representatives, and association witnesses testified in support, emphasizing rising ambulance costs, staffing shortages, and the need for rural emergency coverage, and the bill was left pending after testimony. Senate Bill 868, by Senator Sparks, would direct at least 10% of volunteer fire department assistance funding to high wildfire-risk areas; Texas A&M Forest Service explained the map and methodology, and the committee substitute was adopted. The committee also heard Senate Bill 1426, which would place the First Capitol State Historic Site in West Columbia under Texas Historical Commission stewardship, and Senate Bill 1620, which would create a Texas Forensic Analyst Apprenticeship Pilot Program through the Office of Court Administration to address forensic scientist shortages; both had no opposition in testimony and their committee substitutes were adopted. Senate Bill 2065 would change the Texas Emergency Services Retirement System funding structure to require an actuarially determined state contribution and address the system’s unfunded liability over 30 years; Pasadena fire department representatives testified that the pension is an important volunteer retention tool, and the bill was left pending after testimony. Senate Joint Resolution 4 would raise the Economic Stabilization Fund cap from 10% to 15% of biennial revenue deposits, with a committee substitute correcting the effective date to September 1, 2027; the committee discussed the fund’s current balance and purpose before adopting the substitute. After quorum was established, the committee voted out the measures. Senate Bill 1868, Senate Bill 1371, Senate Bill 264, Senate Joint Resolution 4, Senate Bill 1426, Senate Bill 1620, and Senate Bill 2065 were all reported favorably to the full Senate, with some bills also certified for the local and uncontested calendar. The committee substitute for Senate Bill 868 was adopted and the bill was reported favorably as well. The committee then recessed subject to the call of the chair.
TX
Transcript Highlights:
  • This is the last remaining statewide pension system program that is not actuarially sound.
  • will change that in that it would provide a statutory framework for the. the state to provide an actuarially
  • Similar to the IRS pension reform in 2021, it would require the state to pay a layered, actuarially determined
  • It would also require the unfunded actuarial accrued liability to be depreciated.
AL

Alabama 2026 Regular Session

Alabama Senate Finance and Taxation General Fund Committee Mar 4th, 2026

Finance and Taxation General Fund

Transcript Highlights:
  • I got to find it, but I read it earlier and it sounded pretty good.
  • I got to find it, but I read it earlier and it sounded pretty good.
  • I got to find it, but I read it earlier and it sounded pretty good.
  • I got to find it, but I read it earlier and it sounded pretty good.
AL

Alabama 2025 Regular Session

Alabama Senate County and Municipal Government Committee Apr 2nd, 2025

County and Municipal Government

Transcript Highlights:
  • I think you and the representative sound like you've made some good movement, and we'll try to go ahead
  • I think there are some good points that were raised, and it sounds like there's some back and forth.
  • Sounds reasonable to me.
TX

Texas 89th Regular

Natural Resources Mar 26th, 2025

Natural Resources

Transcript Highlights:
  • Because it kind of sounded like you might be in opposition.
  • Just listening to the bill layout, it sounds like in 2023, somewhere around 21 billion was the number
  • And so, you know, and it sounds like the mitigation... ...issues.
  • I'm assuming there's ongoing work, but it kind of sounds like there's not a lot of work going on.
  • Helps keep the system sound as well.
OK

Oklahoma 2026 Regular Session

Economic Development, Workforce and Tourism REVISED Apr 21st, 2026

Economic Development, Workforce and Tourism

Transcript Highlights:
  • Sound check one, two. Sound check one, two. Sound check one, two. Sound check one, two. Thank you.
  • It sounds like a law enforcement deal. Gee. Okay, so Senator Weaver, your amendment, please. Okay.
Summary: The Senate Economic Development, Workforce, and Tourism Committee met for a work session focused largely on executive nominations and several House bills. The committee advanced nominations for Jared Lundry and Norville Ritter to the Oklahoma Tourism and Recreation Commission, Amy Blackburn as Executive Director of the Oklahoma Department of Tourism and Recreation, and Jason Kays to the Oklahoma Employment Security Commission, with each nominee describing their background and priorities and receiving favorable roll-call votes. Members also considered and advanced a series of bills affecting housing, tourism, workforce, and related programs. HB 1823 would require the Oklahoma Housing Finance Agency to provide advance notice of HOME program changes, limit retroactive rule changes, and give preference to nonprofit grant recipients; it passed 8-1. HB 4476 created a revolving fund related to a music industry rebate program and passed 7-2 after an amendment raising a threshold from 25,000 to 28,000. HB 3880 updated tourism advertising law to include digital media and allowed the Oklahoma Today magazine to move online, with an amendment making publication permissive rather than mandatory; it passed 8-1. HB 3031 created a revolving fund for workforce development tied to skilled trades and the North Point Workforce Development Initiative, and HB 3378 staggered terms on the Oklahoma Science and Technology Research and Development Board; both passed. The committee also passed HB 3369, which aligned LP gas and fire-suppression rules for mobile food vendors and required annual fire safety training, HB 3429, which authorized up to $50 million in bonds for CareerTech-related economic development projects, HB 3657, which clarified agricultural labor reporting and allowed OESC to share workforce data with the Workforce Commission, and HB 4215, which lowered the minimum spend threshold for Oklahoma film post-production incentives from $50,000 to $20,000. Finally, HB 3624, a controversial bill changing how county lines are determined along shifting waterways, drew extensive debate over taxation, property records, and rural impacts before passing 6-5. The chair noted the committee likely had one more meeting remaining and invited further suggested language on the county-line issue.