Transcript Highlights:

• Is there something in the law that you're saying the state violated, that it would—that the state was
• The federal government allocates a dollar amount to every state of tax-exempt bonds that they can essentially
• of tax exempt amount to every state of tax exempt bonds<00:16:11.680> that<00:16:11.839> they
• It allows for these these bonds.
• <01:14:09.760> at registered with Secretary of State at registered with Secretary of State

Bills: HF3217, HF2252

Keywords: bioindustrial facilities, economic development, renewable energy, advanced biofuels, state funding, HF2252, Minnesota bonding, volume cap, private activity bonds, tax-exempt bonds, public facility bonds, public facilities pool, unified pool, bond allocation, municipal finance, bond cap, housing bonds, residential rental projects, manufacturing bonds, enterprise zone bonds

Summary: The committee first approved the prior day’s minutes as amended, correcting the meeting number from the 46th to the 45th meeting. It then took up House File 3217, which would restore funding for the Minnesota Bioincentive Program. Representative Kisha argued the state should honor commitments made to companies that met program requirements and had not received full reimbursement. Testifiers from the Great Plains Institute and Minnesota Biofuels Association said the program has supported bioeconomy investment, reduced greenhouse gas emissions, and generated strong economic returns, but has been underfunded, leaving unpaid claims. Members raised questions about whether the bill was retrospective and whether it should be reviewed by another committee; the bill was laid over for further consideration without a vote. The committee then heard House File 2252, a proposal to modernize Minnesota’s private activity bond volume cap by shifting unused allocation from the small issuer/manufacturing bucket to the public facilities bucket while leaving the overall cap unchanged. The bill’s public finance testifier said the current allocation formula is outdated, housing would remain the top priority, and the change would be budget neutral. Testifiers from the Minnesota Milk Producers Association and Minnesota Biofuels Association supported the bill, saying it would better align financing with rural infrastructure, clean water, manure management, renewable natural gas, dairy processing, and low-carbon fuel projects, and could lower borrowing costs for those sectors. Members questioned whether the bill fit the committee’s jurisdiction and noted it might be more appropriate for another committee; the bill was also laid over for further consideration.

Transcript Highlights:

• Members, this is another vehicle bill so we can hopefully get a bonding bill done. Thank you.
• fostered and to see the needs of the state out there.
• gets to float while a lot of states are kind of in a jumble.
• I appreciate the stakeholders and partners for helping us understand the needs of the state.
• . ...serves the entire state.

Bills: HF719, HF2484, HF2486

Keywords: safety, school transportation, infrastructure, capital investment, state bonds, library construction, education funding, early childhood, child protection, funding, bonds, education facilities

Transcript Highlights:

• So if OTA is awarded the general obligation bonds, then it frees up other federal and state resources
• , then it frees up other obligation bonds, then it frees up other federal<01:15:58.080> state<
• So the overall bond capacity of the state is governed by MMB.
• to notify future potential bond buyers that the state has exceeded its internal limit.
• to notify future potential bond buyers that the state has exceeded its internal limit.

Bills: HF4736, HF4737, HF3806, HF3352, HF4840, HF3748

Keywords: emergency shelter, grant program, homelessness, capital investment, Minnesota Statutes, appropriation bonds, public funding, housing, infrastructure bonds, funding, appropriation, Minnesota constitutional amendment, public debt, state bonds, general obligation bonds, information technology, IT infrastructure, software licenses, technology modernization, capital improvements

Transcript Highlights:

• Representative Pérez-Vega continued: this state gets to float while a lot of states are kind of in a
• Uh, I look forward to the bonding tours.
• Uh, I look forward to the bonding tours.
• Uh, I look forward to the bonding tours.
• Uh, I look forward to the bonding tours.

Bills: HF719, HF2484, HF2486

Keywords: safety, school transportation, infrastructure, capital investment, state bonds, library construction, education funding, early childhood, child protection, funding, bonds, education facilities, 1183, house

Bills: SB48, HB250, SB17

Keywords: State Fairgrounds District, fairgrounds bonds, public financing, bond authorization, gross receipts tax, gaming tax, tax-backed bonds, infrastructure funding, Albuquerque fairgrounds, State Fair Tid, economic development, municipal bonds, revenue pledge, capital projects, New Mexico finance, technology, innovation, advisory board, entrepreneurial support, stakeholder representation

Transcript Highlights:

• We're going to start with Senate Bill 48, which is the State Fairgrounds District Bond bill.
• In the state right now.
• We have around the state.
• their state laws.
• their state laws.

Bills: SB48, HB250, SB17

Keywords: State Fairgrounds District, fairgrounds bonds, public financing, bond authorization, gross receipts tax, gaming tax, tax-backed bonds, infrastructure funding, Albuquerque fairgrounds, State Fair Tid, economic development, municipal bonds, revenue pledge, capital projects, New Mexico finance, technology, innovation, advisory board, entrepreneurial support, stakeholder representation

Transcript Highlights:

• This authorizes $1.5 billion in bonding authority for state road funds or the Highway Infrastructure
• Transportation Commission, this bonding authority will be used for state road projects.
• House Bill 253 all set the state up so we have a better bond rate. We can get lower interest rates.
• , leveraging bonding for state highways.
• , as in conjunction with this bonding package for the state highways.

Bills: SB2

Keywords: SB 2, State Highway Project Bonds, highway funding, transportation bonds, state road fund, motor vehicle fees, vehicle registration fees, electric vehicle fee, EV surcharge, plug-in hybrid fee, weight distance tax, road construction, infrastructure financing, Department of Transportation, State Transportation Commission, bonding authority, county road funds, municipal road funds, transportation improvement program, state highways

Transcript Highlights:

• Happen this November, and then the State Board of Finance typically actually sells the bonds the following
• Next on our agenda, folks, we have Senate Bill 48, State Fairgrounds District Bonds.
• Justin Horowitz, who is the bond attorney for the state working on this.
• And the state fairgrounds are an asset of the state.
• And the state fairgrounds are an asset of the state.

Bills: HB248, HB309, HB332, SB48

Keywords: general obligation bonds, GO bonds, capital projects, bond election, property tax levy, state debt, state finance, capital outlay, senior centers, senior citizen facilities, aging services, long-term services, libraries, library acquisitions, broadband for libraries, higher education, university capital projects, community colleges, tribal schools, special schools

Transcript Highlights:

• no other state has, and we have figured out a model that works.
• We represent small and mid-sized manufacturers across our state.
• New Mexico is truly the only state with a mechanism like Trigger.
• If, you know, we have 45 doctors downtown Albuquerque. the state.
• Is there a bond related to all MRAs, Mr.

Bills: HB248, HB309, HB332, SB48

Keywords: general obligation bonds, GO bonds, capital projects, bond election, property tax levy, state debt, state finance, capital outlay, senior centers, senior citizen facilities, aging services, long-term services, libraries, library acquisitions, broadband for libraries, higher education, university capital projects, community colleges, tribal schools, special schools

Transcript Highlights:

• And this $1.5 billion bonding authority is for state road funds or the highway infrastructure fund bonds
• Commission, this bonding authority will be used for state road projects.
• . tax bonding, and now we have among the lowest debt ratios in the state of New Mexico.
• All set this state up so we have a better bond rate. We can get lower interest rates, right?
• That are critical across the state in conjunction with this bonding package for the state highways.

Bills: SB2

Keywords: SB 2, State Highway Project Bonds, highway funding, transportation bonds, state road fund, motor vehicle fees, vehicle registration fees, electric vehicle fee, EV surcharge, plug-in hybrid fee, weight distance tax, road construction, infrastructure financing, Department of Transportation, State Transportation Commission, bonding authority, county road funds, municipal road funds, transportation improvement program, state highways

Transcript Highlights:

• Of the state general fund for ECCD.
• I just think it's important that we reflect our state.
• What was the additional cost to that to the state? Mr.
• How much that would have cost the state? Mr.
• We see it as an economic advantage for the state.

Bills: SB2

Keywords: SB 2, State Highway Project Bonds, highway funding, transportation bonds, state road fund, motor vehicle fees, vehicle registration fees, electric vehicle fee, EV surcharge, plug-in hybrid fee, weight distance tax, road construction, infrastructure financing, Department of Transportation, State Transportation Commission, bonding authority, county road funds, municipal road funds, transportation improvement program, state highways

Transcript Highlights:

• General obligation bonds can be used for three things: the specific purpose for which the bond was marketed
• of the original bond.
• That it would "repurpose" bond funds from the district's 2018 bond program.
• A little bit quicker, and that's why we see the next bond election, you know, a no tax increase bond
• For the second-largest state in the United States? Correct. Thank you. Other questions?

Bills: SB414, SB621, SB2395

Keywords: bond election, ballot proposition, debt obligation, municipal bonds, local government finance, property tax, ad valorem tax, school district bonds, county bonds, special taxing district, voter information document, public debt, municipal finance, tax-supported debt, election ballot language, bond transparency, homestead tax impact, capital improvements, general obligation bonds, public bank

Transcript Highlights:

• The city has not received any state bonding funds in recent history.
• <00:26:27.360> bonding<00:26:28.200> uh<00:26:28.320> funds not received any state
• bonding uh funds not received any state bonding uh funds in<00:26:29.000> recent<00:26:29.360
• As also noted, it's not something that we've put forward through this process through state bonding in
• around the state. around the state.

Bills: HF4470, HF2418, HF3417, HF3365, HF3463

Keywords: HF4470, Melissa Hortman, memorial, statue, memorial garden, State Office Building, Capitol Mall Design Framework, capital investment, appropriation, Capitol Area Architectural and Planning Board, Department of Administration, public art, commemorative monument, landscaping, artist selection, family consultation, Minnesota legislature, state building site, capital appropriation, political subdivisions

Bills: HB2, HB3

Keywords: capital outlay, budget, infrastructure, appropriation, general obligation bonds, bond authorization, capital improvement, financial management, state treasury, 965, house, all

Transcript Highlights:

• And one piece of that puzzle is that every state gets a set amount of federal tax-exempt bonds.
• , developers throughout the state.
• uh developers um throughout the state. uh developers um throughout the state.
• didn't get bonds.
• the state of Minnesota. the state of Minnesota.

Bills: HF4234, HF3697, HF1183, HF4738

Keywords: HF4234, Minnesota private activity bonds, tax-exempt bonds, bond cap, aggregate bond limitation, residential rental projects, multifamily housing, affordable housing finance, housing bonds, public finance, bond allocation, private activity bond cap, Minnesota Statutes 474A.02, tax committee, tax refund, Minnesota Statutes, time limit, claims, tax overpayment, taxation

Summary: The committee first adopted the April 14, 2026 minutes as amended, correcting a misspelling in the reference to Chair Davids. It then heard House File 4234, a tax-exempt bonding/affordable housing bill from Representative Rey Rower, and adopted a technical A1 amendment before laying the bill over for possible inclusion in the 2026 tax bill. The bill would conform Minnesota law to recent federal changes to low-income housing tax credit rules by lowering the amount of tax-exempt bonds needed for projects to qualify, with the stated goal of spreading bond allocations across more projects and increasing affordable housing production without additional state funds. Testimony in support came from the bill author, the Greater Minnesota Housing Fund, and Mary Tingerthal, who said the change would increase efficiency in the use of federal bond authority and could raise the number of funded housing projects from about 16 to 25 per year, bringing in roughly $120 million more annually for housing. Members discussed where the benefits would be felt statewide, including greater Minnesota and larger metro areas, and the author said the bill would help address shortages in affordable and senior housing. The committee took no final vote on the bill, instead laying it over. The committee next heard House File 3697 from Vice Chair Norris, which would change Minnesota’s tax refund claim timelines to better align with federal law and most other states. The author and a tax attorney testifier said the bill would reduce confusion and help taxpayers, especially vulnerable individuals who may overpay or be overassessed and then miss the current deadline to seek refunds. The Department of Revenue said it had no concerns with the language and did not oppose the bill, and the committee laid the bill over for possible inclusion in the 2026 tax bill. Finally, the committee began hearing House File 4738 from Representative Keeler, a Safe Harbor funding proposal for victims of sex trafficking and sexually exploited youth. The author described Safe Harbor as a statewide program serving youth across Minnesota and said the committee should consider creative funding options, but Chair Davids stated the proposed funding source would not work because it would take money from women’s sports scholarships. Testifiers from Lake House in Duluth and a former Safe Harbor youth described the program’s impact on homeless and trafficked youth, including shelter, mental health services, education, and transition to adulthood. The hearing continued with testimony, but no action was taken in the portion provided.

Transcript Highlights:

• that. ...million dollars in bonds to start off the improvement of that state fair district.
• So, My understanding is about the bond. I'll just talk about the bond thing.
• If the state fair stays, there's at least one where the state fair goes, so that will be something decided
• Each year, the Legislature and state and local government invest millions of dollars across the state
• And Madam Chair, I was aware that it was in the bond. Maria Curry that was in the bond. Yes, sir.

Bills: SB36, SB88, SB92, SB97, SB48, SB55, SB58, SB76, SB93, SB89, SB60

Keywords: quantum technology, tax credit, infrastructure, economic development, New Mexico, corporate tax, research and development, innovation, foster care, income tax, guardianship, youth services, financial relief, affordable housing, gross receipts tax, tax deduction, construction materials, multifamily housing, low income, tax credits

Transcript Highlights:

• Involve the waterways of the state of Alabama so that, Father, when our time is gone, people will know
• Involve the waterways of the<00:06:43.039> state<00:06:43.120> of<00:06:43.280> Alabama
• <00:06:44.160> So<00:06:44.319> that<00:06:44.560> father the state of Alabama
• So that father the state of Alabama.
• House Bill 38 by Chairman Brown relating to state waters.

Bills: HB38, HB39, HB181, HB38, HB39, HB181

Keywords: district attorneys, prosecutorial function, law enforcement, criminal procedure, legal advice, paternity, putative father registry, adoption, legal rights, parental rights, HB181, Alabama Building Renovation Finance Authority, bond authorization, state bonds, capital improvements, public buildings, State Capitol, renovation finance, public office facilities, infrastructure financing

Transcript Highlights:

• The remainder of the dollars are appropriated to state agency, judicial, and higher education projects
• Some of the state agency projects are for the benefit of local entities.
• appropriations in the bill include $445 million in the general fund, $444 million in severance tax bonds
• , and $280 million in supplemental severance tax bonds. tax bonds, and $280 million in supplemental severance
• tax bonds.

Bills: SB240

Keywords: capital outlay, capital projects, severance tax bonds, general fund appropriations, supplemental severance tax bonds, UNM School of Medicine, University of New Mexico, infrastructure, state buildings, courts, schools, higher education, road improvements, water and wastewater, tribal infrastructure, tribal projects, public safety, housing, emergency services, bonding

Transcript Highlights:

• depreciation. 26 states—that's not counting New Mexico; we push it to 27, and more states are considering
• another state?
• Because that credit can be taken against state GRT, state withholding taxes, and other combined payments
• So the state gets to say we decrease.
• Receive a massive boom of corporations saying, 'Okay, I have investments in this state or this state

Bills: SB240

Keywords: capital outlay, capital projects, severance tax bonds, general fund appropriations, supplemental severance tax bonds, UNM School of Medicine, University of New Mexico, infrastructure, state buildings, courts, schools, higher education, road improvements, water and wastewater, tribal infrastructure, tribal projects, public safety, housing, emergency services, bonding

Transcript Highlights:

• K States are direct support for our caseworkers.
• Four of those children were in state custody.
• certified law enforcement officers in the state.
• Same with on the state police side.
• We have need for people all over the state.

Bills: SB48, SB64, SB100

Keywords: State Fairgrounds District, fairgrounds bonds, public financing, bond authorization, gross receipts tax, gaming tax, tax-backed bonds, infrastructure funding, Albuquerque fairgrounds, State Fair Tid, economic development, municipal bonds, revenue pledge, capital projects, New Mexico finance, special education, office of special education, deputy secretary, public education department, IEP