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Legislative Update
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The Senate Finance Committee on Aug. 7 became the first legislative body to release an interim report in advance of the upcoming legislative session that begins in January. The 41-page report notes the challenges ahead for the state’s major investment funds due to COVID-19 and other factors.

The report does not significantly address PK-12 funding, outside of discussing various issues related to TRS and the Permanent School Fund (PSF).

The report, for instance, cites experts who have cautioned that the contributions to the TRS fund and the fund’s anticipated investment returns of 7 percent will make the system unable to meet the long-term needs of beneficiaries and to keep the fund acturarilly sound.

And, although the report cautions that while the PSF is undoubtedly yielding significant returns, the joint management of the fund by the State Board of Education and the School Land Board has added additional layers of decision making and operational costs.

The report makes a few recommendations regarding TRS and the PSF — and cites the need for continuing to monitor the impact of COVID-19 on the markets and state investment funds.

House Committees
Meanwhile, several House committees are asking for written public comment to be submitted due to the cancellation of in-person hearings. The Senate has not formalized a process for committees to receive testimony on their interim charges.

The House committees that are seeking comments, either from the public generally or from designated parties only, are listed here. Click the individual "notices" and "responses" links.