Transcript Highlights:

• We provide 70% of the ag lending in the state and 60% of the small business lending in the state.
• </c> rely on local lending relationships. rely on local lending relationships.
• </c><01:32:09.760><c> in</c> Um, we provide 70% of the egg lending in Um, we provide 70% of the egg lending
• The bill is going to provide a small modicum of relief, and that's going to make ag lending and small
• </c><01:34:06.239><c> more</c> lending and small business lending more lending and small business lending

Bills: HF331 , HF916

Committee: House Taxes

Transcript Highlights:

• Currently, these banks can lend only up to 15% of their capital to any single customer.
• As was mentioned, the bill increases the current legal lending limit.
• Their states all allow lending up to 20%.
• As was mentioned, the bill increases the current legal lending limit.
• Their states all allow lending up to 20%.

Committee: Senate Commerce

Transcript Highlights:

• </c> lending license. lending license.
• Credit is lending, so that says that lending institutions can't discriminate.
• And so that's why it's changed to lending institutions.
• And so that's why it's changed to lending institutions.
• </c> financial institution's lending policy. financial institution's lending policy.

Transcript Highlights:

• may accept or reject any part or all of a program package based on the evaluation of the eligible lending
• I know that the lending institution has to qualify, the treasurer has to approve them first to even be
• So this bill allows lending institutions to prioritize based on, from the text of the measure, it says
• To the extent that it's not actually written in the bill, that would be up to the lending institution
• That would be up to whether or not The financial lending institution wants to participate and wants to

Bills: HB2268 , HB3000 , HB3043 , HB3066 , HB3078 , HB3143 , HB3144 , HB3244 , HB3298 , HB3320 , HB3467 , HB3321 , HB3329 , HB3431 , HB3464 , HB3499 , HB3500 , HB3586 , HB3590 , HB3650 , HB3671 , HB3695 , HB3700 , HB3701 , HB3764 , HB3767 , HB3834 , HB3931 , HB3934 , HB3940 , HB3944 , HB3979 , HB3985 , HB4113 , HB4294 , HB4302 , HB4317 , HB4324 , HB4359 , HB4426 , HB4427 , HB4430 , HB4431 , HB4434 , HJR1077 , SR42 , SR35 , HJR1023 , HB1225 , HB1374 , HB1381 , HB1590 , HB1675 , HB2153

Keywords: HB2268, Oklahoma Health Care Authority, OHCA, appropriation, General Revenue Fund, PACE, Programs of All-Inclusive Care for the Elderly, elderly care, aging Oklahomans, long-term care, Medicaid, health care funding, provider reimbursement, rate increase, low-income seniors, senior services, integrated care, emergency measure, cosmetology, barbering

Transcript Highlights:

• This is the only direct lending that we do.
• The participation lending vertical and the student loan vertical are really our two profitable verticals
• Student lending is highly regulated.
• Don, what is the market rate currently for student lending? Mr.
• That correlation between deposits and ability to do the lending programs is 100%.

Summary: The committee received a compliance and budget update on Industrial Commission agencies and programs, including the Industrial Commission administrative office, the Oil and Gas Research Program, the Clean Sustainable Energy Authority, the State Energy Research Center, the Research Technology Park grant program, and related funds. Staff reviewed spending and balances for items such as electric grid resiliency grants, lignite research, enhanced oil recovery, the salt cavern business case study, and the new NDSU research and technology park grant. Members also discussed timing, carryover balances, matching requirements, and how some programs are structured to reimburse projects over several years rather than spend funds immediately. Karen Tyler of the Industrial Commission described the agency’s administrative budget, the grant management system nearing completion, and the transition to standalone audits and staffing after separating from other agencies. She also outlined the status of active grant rounds across lignite, oil and gas, renewable energy, outdoor heritage, and clean sustainable energy programs. Members asked about the length of active grants, demand for clean energy funding, and the possibility of future grant rounds. Tyler and members also discussed the salt cavern study, the need to better define its commercial value, and the research technology park grant’s cash-match requirement. Ron Ness then testified on enhanced oil recovery and broader oil and gas market conditions. He said North Dakota production remained steady, but future growth depends on infrastructure, longer laterals, and better use of natural gas and carbon dioxide for EOR. He described the state’s EOR grant round, the use of federal DOE funding to replace part of a state-funded project, and the expectation of additional grant rounds. Members asked about CO2 supply, storage, and the economics of using legacy fields and pipelines to extend oil production and support agriculture and industrial uses. The committee also heard from Bank of North Dakota President Don Morgan, who reviewed the bank’s mission, governance, lending verticals, disaster programs, and new initiatives. He said the bank is seeing deposit growth flatten and is responding to fintech competition by focusing on liquidity, risk management, and a new payment infrastructure initiative called Rough Rider Coin, which he emphasized is not crypto and not a public coin, but a banking payment rail for North Dakota institutions. Members asked about student loan rates, disaster lending, and how the bank’s lines of credit and balance sheet capacity are affected by deposit trends. Morgan said the bank remains profitable and continues to support agriculture, commerce, and industry through participation loans, student lending, and state-directed programs.

Transcript Highlights:

• I moved here to help a small credit union start their business lending, and then I've been moved out
• And I have a long background in commercial lending, and I've owned a couple of my own businesses and
• And I have a long background commercial lending and I've owned a couple of my own businesses and have
• I'm not sure if this is allowed, but I would also lend my support to both Michelle and Will as well.
• I'm not sure if this is allowed, but I would also lend my support to both Michelle and Will as well.

Committee: Senate Economic Development and Tourism

Summary: The Senate Committee on Economic Development and Tourism heard several governor’s nominations for advisory and regulatory boards. The first group included William Smith, Michelle Ige, and Kayana Neman for the Community-Based Economic Development Advisory Council; Leland Park and Cynthia Hobson for the Small Business Regulatory Review Board; and Nicole Kacal for the Hawaiʻi Technology Development Corporation board. DBEDT and related witnesses testified in support of all nominees, and each nominee described experience in small business, finance, community engagement, or technology. Much of the discussion focused on strengthening Hawaiʻi’s economy through small business support, financial literacy, and better access to capital and grants. Committee members questioned nominees about priorities for Hawaiʻi Island and the state more broadly. Topics included agricultural infrastructure, value-added food production, shared processing facilities and commercial kitchens, workforce housing, and ways government and nonprofits can partner to help small businesses navigate permitting, licensing, and grant processes. Several nominees emphasized community impact, measurable outcomes, and practical regulatory reform. Nicole Kacal also discussed diversifying the economy beyond tourism, expanding technology and AI opportunities, and creating locally governed training and research pathways so workers can adapt to changing jobs. At the end of the hearing, the committee voted to recommend advice and consent for all nominees. The nominations for GM 608, GM 609, GM 612, and GM 613 were adopted by voice vote, with Senators Kim and Fevella excused. The committee then voted separately on GM 794 for Nicole Kacal, and that recommendation was also adopted. The hearing concluded with adjournment.

Transcript Highlights:

• The new mortgage lending authority granted by the bill is intended solely to streamline financing for
• I appreciate the residential loan component being taken out, but if there's commercial lending that's
• happening here... ...and if there's commercial lending that's happening here that is not backstopped
• I just do want to make sure it does not become a competition to private lending banks, but today I will

Bills: HB1974 , HB2118 , HB2236 , HB2269

Committee: House Housing

Keywords: land bank, land banking authority, affordable housing, housing crisis, housing supply, public corporation, public housing authority, nonprofit housing, tax-foreclosed property, blight remediation, redevelopment, anti-displacement, equity, redlining, racial segregation, deed restriction, affordability covenant, property tax exemption, excise tax exemption, predevelopment

Transcript Highlights:

• Those are new bank charters in New Hampshire. only lend up to 15% of their uh, capital only lend up to
• So, has the ability to lend up to 20%.
• But banks can lend out based on, you know, fractional lending, right? Does that multiply?
• But banks can lend out based on, Yep.
• </c> you know, fractional lending, right? you know, fractional lending, right?

Summary: The subcommittee took up HB 164, dealing with homeowners and certain service agreements tied to residential real estate. Much of the discussion focused on whether the bill should be framed as prohibiting “service agreements” or more specifically as banning “future right to listing” agreements, and whether the bill should mirror Maine’s newer law. Mike Padmore of AARP New Hampshire presented suggested edits, including clarifying that the agreements are unenforceable, striking a provision at Roman 6C, and adding language making clear that registry of deeds staff are not liable when they record documents they are statutorily required to file. Bob Quinn of the New Hampshire Association of Realtors said the bill and Maine’s law reach the same result, but he preferred simpler wording and argued the bill should not include a two-year time limit because legitimate listing agreements should not create liens at all. Members and witnesses debated whether the bill should simply make the practice illegal outright, whether the Consumer Protection Act is the right enforcement vehicle, and whether the lien-removal process should be modeled on the recent undischarged mortgage bill. A consumer protection official said the bureau supports the statute and explained that under RSA 358-A, consumers could seek damages and equitable relief to strike a lien, while also noting that the bureau often uses the Consumer Protection Act as an enforcement tool. The committee also discussed narrowing the bill to residential real estate, with the sponsor and witnesses saying the problem has been seen in residential transactions and that commercial property was not the focus. The testimony described the underlying problem as companies, often national rather than New Hampshire-based, using long-term or future listing agreements to impose liens or penalties on homeowners, sometimes in connection with estate transfers or home sales. Witnesses said legitimate real estate listings do not normally place liens on houses, but these arrangements can include hidden or unclear penalties, including a reported 3% charge on home value. No vote was taken in the excerpt, but the committee appeared to be working through possible amendments and whether to adopt Maine-style language or a simpler New Hampshire-specific approach.

Transcript Highlights:

• This measure prohibits a person from lending a firearm to a person who does not have a firearm permit
• Thank you. lending it says oh that's okay there's lending it says oh that's okay there's no<00:19:20.799
• </c><00:20:14.400><c> my</c> sportsman uh if I were to like lend my sportsman uh if I were to like lend
• </c><00:22:16.559><c> your</c> nice guy and be able to lend your nice guy and be able to lend your firearm
• </c><00:22:49.799><c> of</c> 22 and is a deao ban on the lending of 22 and is a deao ban on the lending

Committee: House Judiciary & Hawaiian Affairs

Summary: The House Committee on Judiciary and Hawaiian Affairs met on February 19, 2025, and first heard House Bill 150, which would prohibit lending a firearm to someone who does not have a firearm permit or a registered firearm. The Department of Law Enforcement and the Honolulu Police Department supported the bill, though HPD said enforcing any time limit on a loaned firearm would be difficult. Several members of the public opposed the measure, arguing it would interfere with lawful lending for hunting, competitions, training, military-related use, and family situations, and could create unintended criminal liability. One supporter said the bill would strengthen gun safety and encourage more responsible ownership. No vote was taken during the testimony portion described. The committee then heard House Bill 186, which would make harassment by stalking a class C felony. The Office of the Public Defender requested deferral, arguing the bill would remove a misdemeanor option that can help deter escalation and could be unnecessarily severe and burdensome. Honolulu Police Department supported the bill, saying stalking can be a precursor to more serious violence. The Hawaiʻi State Coalition Against Domestic Violence and the Department of the Prosecuting Attorney raised concerns about how the new felony would fit within the existing grading scheme, noting that aggravated harassment by stalking and first-degree terroristic threatening are already class C felonies. April Bautista testified in strong support, describing her own experience with domestic violence and stalking and urging passage of the bill. Committee members discussed whether other penalty structures might be possible, but no final action was taken in the portion provided. The committee also heard House Bill 991, which would delete the term “agent of the contractor” from criminal history record check provisions to comply with FBI requirements. The Hawaii Criminal Justice Data Center supported the bill with comments, explaining that the FBI had found the term too broad for fingerprint-based background checks tied to access to federal tax information. In addition, House Bill 995 was introduced, changing deadlines for annual firearms carry reporting; the Department of the Attorney General supported it, saying the revised deadlines would allow a more complete report, and HPD was also heard on the measure. The transcript ends before any votes or final committee actions on these bills.

Transcript Highlights:

• Van Horn, staff to this committee, is briefing you on Senate Bill 5109, which concerns the mortgage lending
• collected at the time of recording each deed of trust, and that $1 surcharge is to support the mortgage lending
• Revenues from the mortgage lending fraud prosecution account are used by the Department of Financial
• prosecutor's offices for the investigation and prosecution of fraudulent activities related to mortgage lending
• million in fiscal year 27 and $2.5 million per biennium thereafter would be deposited into the mortgage lending

Summary: The Appropriations Committee held a public hearing on several bills. Senate Bill 5109 would raise the mortgage lending fraud prosecution surcharge on recorded deeds of trust from $1 to $5 and remove the 2027 sunset on the surcharge and account. Committee staff said the change would generate additional revenue for county auditors and the Department of Financial Institutions to contract with prosecutors; King County and the Washington Association of Prosecuting Attorneys testified in strong support, saying the current funding has eroded and the bill would better sustain mortgage fraud prosecutions. A question was raised about whether other budget funding could serve a similar purpose, but supporters said the dedicated surcharge/account structure was the best fit. No vote was taken. The committee also heard Engrossed Substitute Senate Bill 5500, which would require DCYF’s biennial child care report to include a current cost-of-quality study in addition to the market rate survey. Testifiers from Child Care Aware of Washington, child care providers, and the early education design team supported the bill, saying the market rate survey alone does not capture the true cost of providing quality care. Staff said the bill would have a small fiscal impact for DCYF. The committee then heard Substitute Senate Bill 5834 and Senate Bill 5835, both Department of Retirement Systems request bills: one would broaden use of pension fund interest earnings for fund-protection expenses beyond the 2025-27 biennium, and the other would raise the threshold for lump-sum payment of small monthly benefits from $50 to $250. Neither bill drew public testimony, and staff said the fiscal impacts were minimal. Later, the committee heard Engrossed Senate Bill 5872, which would create the Pre-K Promise Account for ECAP funding and allow gifts, grants, and donations to be used solely to expand the program. Supporters including rural health coalitions, the Balmer Group, and Snohomish County said the account would help expand access to early learning, especially in child care deserts; DCYF estimated staffing costs to administer the account. Substitute Senate Bill 6007 would direct WSIPP to study DCYF’s child welfare screening tools and their effects on outcomes, with a reported cost of about $234,000; there was no public testimony. Engrossed Substitute Senate Bill 6019 would clarify home care agency rate-setting and require that no more than 20% of Medicaid home care rates go to administrative costs, with DSHS saying there would be no fiscal impact. Labor and caregiver witnesses supported it as a parity and accountability measure. Finally, Senate Bill 6065 would allow school districts in binding conditions or enhanced financial oversight to use transportation vehicle funds more flexibly, including temporary loans or permanent transfers with approval; a rural education representative supported the bill, and staff said OSPI would incur only modest administrative costs. The committee took no final action and adjourned after the hearings.

Transcript Highlights:

• Hawaii Island Inc. in support; Hawaii Regional Council of Carpenters in opposition; Hawaii Community Lending
• Habitat for Humanity Hawaii Island Inc., Hawaii Regional Council of Carpenters, Hawaii Community Lending
• Carpenters in opposition<00:12:35.399><c> Hai</c><00:12:35.760><c> Community</c><00:12:36.120><c> lending
• </c><00:12:36.560><c> in</c> opposition Hai Community lending in opposition Hai Community lending in

Committee: House Labor

Transcript Highlights:

• 2677 requires a commercial sales-based financing (MCA) provider to be transparent and follow fair lending
• There's evidence of staff indicating it's kind of a predatory lending type procedure, similar to a payday
• lending scenario.
• from that vantage point, I have seen how the MCA industry has, frankly... ...wreaked havoc on the lending
• By engaging in predatory lending tactics, such as the practice of the confessed judgment. ...and it has

Bills: HB 12 , HB149 , SB229 , SB1361 , SB1749 , SB1897 , SB2113 , SB2566 , SB2677 , SB1652 , SB2327 , SB2344 , SB2696 , HB12 , HB149

Committee: Senate Business & Commerce

Transcript Highlights:

• input of the Florida Bankers Association, did hire a banking consultant who has a history in the lending
• And the rule was tied to the wrong benchmark, the Wall Street Journal prime rate, which is a lending
• So you're getting, when you have less deposits, you have less money to lend out in your community.
• So you're getting, when you have less deposits, you have less money to lend out in your community.
• When we tie these rates to lending, when we tie the rates for the IOTA accounts to lending rates as opposed

Committee: Senate Banking and Insurance

Summary: The committee heard several bills and amendments, beginning with CS/SB 498 on trust fund interest for IOTA accounts. The sponsor said a 2023 Florida Supreme Court rule sharply increased interest paid into legal aid funding, creating a windfall and making participation difficult for banks. An amendment was adopted requiring savings institutions to pay the higher of 0.25% or the highest comparable rate offered on certain non-IOTA accounts, and the bill then passed favorably after testimony from banks, legal aid representatives, and other stakeholders both supporting and opposing the measure. The committee also approved CS/SB 232, which clarifies Florida’s consumer collection law applies only to phone calls during restricted hours and not emails or text messages, after a delete-all amendment and supportive testimony from industry groups. It then approved SB 132, as amended, to designate gold and silver as legal tender and set rules for custody, audits, electronic transfer, and government acceptance of payments; supporters called it a sound-money measure, while the banking association said it still had unresolved technical concerns. Later, the committee passed SB 1466 to create a trust fund for the My Safe Florida Home Program, with an amendment funding it from 20% of collected insurance premium tax revenue. It also considered SB 1206 on transportation network company insurance, reducing coverage during the “dead-leg” period before a rider is picked up from $1 million to lower limits; the bill drew sharp opposition from trial lawyers and support from insurers and some business groups, and the committee adopted a clarifying amendment before reporting the bill favorably. Finally, CS/SB 924 on fertility preservation for cancer patients was amended several times to narrow scope and clarify coverage rules, then passed favorably after debate over cost, preauthorization, and post-treatment storage obligations. The committee adjourned after allowing technical and conforming changes to implement the adopted amendments.

Transcript Highlights:

• This is the only direct lending that we do.
• Student lending is highly regulated.
• Don, what is the market rate currently for student lending? Mr.
• That correlation between deposits and ability to do the lending programs is 100%.
• That correlation between deposits and ability to do the lending programs is 100%.

Summary: The committee received a compliance and status update on Industrial Commission programs and the Bank of North Dakota. Staff reviewed appropriations and spending for several Industrial Commission funds and grant programs, including lignite research, oil and gas research, clean sustainable energy, grid resiliency, salt cavern analysis, and the new NDSU research and technology park grant. Members discussed the timing of reimbursements, uncommitted balances, and the structure of the pipeline capacity and enhanced oil recovery funding. The Industrial Commission also reported on its administrative budget, grant management system project, and recent leadership transitions across several agencies. Karen Tyler of the Industrial Commission described active grant rounds and the status of major projects. She said the Clean Sustainable Energy Authority approved three projects in its sixth round, with remaining uncommitted cash and loan capacity still available, though no new funding was appropriated this session. She also said the Oil and Gas Research Council approved six enhanced oil recovery projects and expects additional funding after a federal Department of Energy award replaces one project’s state funding. For grid resiliency grants, she said some projects have been funded, some commitments were returned or reallocated, and some DOE funds remain pending. She also updated the committee on the salt cavern business case study, which replaced an earlier larger development proposal, and on the NDSU research park grant, where the nonmatching portion was paid and the matching portion has moved slowly because the match must be in cash. Ron Ness then gave an extended presentation on enhanced oil recovery and North Dakota oil and gas trends. He said production remains steady, but future growth depends on infrastructure, especially gas takeaway and projects like the Bakken East pipeline. He argued that enhanced oil recovery using CO2, natural gas, surfactants, and other methods could extend Bakken production for decades, but that the state needs more CO2 supply, better storage, and updated tax and regulatory incentives. Members asked about lateral lengths, CO2 availability, pipeline impacts, and the role of the Strategic Petroleum Reserve, and Ness emphasized that the projects are intended to share technical learning across operators and attract follow-on investment. The Bank of North Dakota then presented its compliance report and strategic update. President Don Morgan said the bank’s mission remains to support North Dakota agriculture, commerce, and industry while cooperating with the state’s financial sector. He reviewed the bank’s main business lines: participation lending with community institutions, student loans, disaster lending, mission-based programs, and a new fintech-focused effort. Morgan said deposits are flattening, so the bank is managing balance sheet growth carefully, while still reporting improved net income and strong efficiency. He also introduced Rough Rider Coin as a bank-to-bank payment rail, not a public cryptocurrency, intended to speed and modernize payments within North Dakota’s banking and credit union system. Committee members asked about student loan eligibility, disaster program use, and how credit lines and liquidity would be affected if deposits shrink.

Transcript Highlights:

• How would you say we can reform our lending practices in order to generate the most bang for the buck
• How would you say we can reform our lending practices in order to generate the most bang for the buck
• How would you say we can reform our lending practices in order to generate the most bang for the buck
• How would you say we can reform our lending practices in order to generate the most bang for the buck
• How would you say we can reform our lending practices in order to generate the most bang for the buck

Committee: Senate Public Safety and Military Affairs

Summary: The joint committees heard HCR 66, which asks the State Building Code Council to update the state building code to allow point access block construction for residential buildings up to six stories. Testimony was generally in support, including from Housing Hawaii’s Future, the Grassroot Institute of Hawaii, and OPSD, with one registered opponent. No questions were raised, and the joint committee later adopted a recommendation to pass the resolution as is. Because the housing committee lacked quorum at that time, final action on the resolution was deferred to the housing-only agenda. On the housing-only agenda, the committee first heard HTR 78, which states the intent that housing projects qualifying for credits under Act 31 remain eligible for those credits after the act’s repeal. Testimony was in support from HHFTC and the DIY chapter, and there were no questions or opposition noted. The committee then took up Governor’s Message 592, confirming Lisa Darcy to the HPHA board. Support came from HPHA board members and several individuals, and Darcy said she accepted the nomination and emphasized her experience and interest in HPHA’s work. Members questioned her about the HPHA board’s oversight role, the 10,000-unit RFQ, and media coverage of Kuhio Park Terrace relocations; she said she supports the project, values transparency, and would push for better context and accountability, though some members felt she had not directly answered concerns about on-the-ground oversight. The committee also heard Governor’s Message 736, confirming Grant Chun to the HHFDC board. Support testimony highlighted his experience in nonprofit housing, real estate, and leadership roles, and Chun said he was pleased to serve the state. Members asked about his residence and his perspective on senior care at Hali Makua, where he said his family found the care compassionate and thorough, while noting staffing shortages. The transcript ends before any final vote on the housing-only items is shown.

Transcript Highlights:

• The group that will be deciding where they post this money is the person lending the money.
• THE COUNTRY CAME HERE, ASKED OUR BANKS TO LEND THEM MONEY, AND THEY LENT THEM TO MONEY ON TERMS.
• This is about predatory lending, is what I have heard her say before.
• THIS IS ABOUT PREDATORY LENDING IS WHAT I HAVE HEARD HER SAY BEFORE.
• WHERE WE HAVE PREDATORY LENDING.

Summary: The Senate convened, approved the prior day’s journal, and then processed a large number of motions to discharge bills from committees and substitute identical Senate or Assembly versions for third reading. The chamber also adopted the resolution calendar with exceptions and took up several resolutions and ceremonial recognitions, including a resolution mourning Hudson Talbott, a Dairy Month resolution highlighting New York’s dairy industry, and introductions honoring Niskayuna academic teams, Gabriella Scheer for receiving the Liberty Medal, the Hartstein family’s civic engagement, and Diana Cochran’s advocacy for safe firearm storage. The Senate then moved through the calendar and passed many bills on topics including insurance, public health, education, labor, social services, banking, local government, veterans, public service, consumer protection, criminal procedure, cannabis, parks, taxation, election law, and highway matters. Several members explained votes on notable measures: support for acupuncture insurance coverage, consumer protections for doorbell-camera data sharing, expanded protections in debt collection cases, trauma-informed procedures for sexual assault survivors, a Legionnaires’ disease awareness program, changes to mandatory minimum sentencing, and universal safe storage of firearms. A number of home rule and local authorization bills were also approved, including parkland alienation measures and local tax exemption authorizations. Most measures passed with broad bipartisan support, though some drew recorded opposition. Notable roll calls included the consumer debt uniformity bill, the mandatory minimum sentencing bill, the safe storage/firearms bill, and the public housing and public health measures, each with more divided votes. The chamber also accepted a lengthy Rules Committee report sending many additional bills directly to third reading, and then began the supplemental calendar, passing at least the first items before the transcript ended.

Transcript Highlights:

• , our home ownership lending.
• , our home ownership lending.
• our home ownership for um our Lending our home ownership lending<00:26:29.880><c> it</c><00:26:30.080
• </c> agency creates through our lending agency creates through our lending allows<00:26:47.320><c> us
• opportunity 42% of our ownership lending opportunity 42% of our lending<00:53:08.960><c> goes</c><00

Committee: Senate Housing and Homelessness Prevention

Transcript Highlights:

• </c><00:43:40.160><c> know</c> play. um you know lending you know play. um you know lending you know
• </c><00:44:31.839><c> model</c> essentially uh without a lending model essentially uh without a lending
• So um pure lender lending transactions.
• They're kind enough to lend us a conference room.
• kind enough to lend us a conference<02:13:51.599><c> room.

Summary: The commission met to review stable tokens, real-world asset tokenization, and blockchain-based trust, approved the agenda and December 12 minutes, and heard a presentation from Anchorage Digital after postponing a planned Bitco presentation because of its IPO quiet period. Anchorage’s Melinda Delos, Joe Mioli, and Kevin Wasaki introduced the firm, describing it as a global digital assets platform and the first crypto-native institution in the U.S. to receive a federal banking charter. They said their approach emphasizes security, regulated custody and trading services, and responsible innovation for institutional clients, banks, states, and sovereigns. The presentation focused on post-Genius Act momentum in the stablecoin market. Anchorage said the law provided regulatory clarity and helped spur activity with major clients, including Athena, Tether, and Western Union. The speakers highlighted Western Union’s planned stablecoin as especially significant because it reflects adoption by a long-established traditional payments company, and they said the project illustrates how stablecoins can support programmable, real-time, interoperable payments. They also noted that Anchorage is providing issuance infrastructure for the Western Union project. The commission and presenters also discussed government uses of tokenized assets, including reserve legislation, digital assets for tax collection and fees, and a Marshall Islands initiative to use a tokenized sovereign bond for direct citizen payments. In response to a question, Anchorage said it would follow up on which states are using digital assets for revenue collection, mentioning Louisiana and Pennsylvania as examples. The banking discussion centered on remittances, instant payments, and interbank settlement, with Anchorage arguing that stablecoins can reduce settlement time, fees, and foreign exchange risk while improving traceability and auditability.

Transcript Highlights:

• Uh, Senate Bill 85, read the bank lending limits, and I've got no cards yet.
• Um the other thing legal lending limit.
• Uh, so you guys are lending more money, right? Right now the capital is—she's not lending.
• It just allows them to lend a little bit more.
• </c> allows them to lend a little bit more. allows them to lend a little bit more.

Summary: The committee first held a public hearing on Senate Bill 25, which would allow state-chartered credit unions to compensate board members if the membership approves it. Prime sponsor Senator Dan Innis said the bill is enabling only, intended to help credit unions recruit and retain qualified directors and align New Hampshire with other states that already allow such compensation. Credit union representatives from the Cooperative Credit Union Association and St. Mary’s Bank supported the bill, saying board service has become more complex because of cybersecurity, asset-liability management, and other regulatory demands, and that compensation could be modest and take forms such as meeting fees or educational reimbursement. In response to committee questions, they said compensation would be set by the membership, disclosed in advance, and subject to bylaws and internal policies; they also noted that board members must be credit union members and that voting procedures vary by institution, with some using mailed ballots rather than proxy voting. Members raised questions about why credit union boards were historically excluded, what kinds of compensation were contemplated, whether there would be a cap, and how voting and confidentiality would work. Testimony explained that the historical rationale was the nonprofit, volunteer mission of credit unions, but witnesses argued that the modern environment and competition for talent justify a change. They also said the bill would not mandate compensation and would not create a salary structure comparable to banks, but would allow members to approve modest compensation or reimbursements. After no further testimony, the chair closed the public hearing on Senate Bill 25. The committee then opened a public hearing on Senate Bill 26, sponsored by Senator Howard Pearl, concerning the definition of deposits in land sales and escrowed accounts. Pearl said the bill would clarify that buyer funds for upgrades and luxury items in new-home construction are not treated as refundable deposits that must be held in escrow, arguing that the current Attorney General interpretation raises builder costs, increases home prices, and can limit buyer choices. He said the proposal would allow those upgrade funds to be paid directly to builders for construction, with signed disclosures making clear that the buyer requested the items and bears the risk if financing falls through. The hearing on Senate Bill 26 had just begun when the transcript ended.

Transcript Highlights:

• it to us we money for good lend it to us we immediately<01:00:32.280><c> lend</c><01:00:32.559><c> those
• those funds back out to immediately lend those funds back out to borrowers<01:00:34.119><c> and</c><
• alongside our lending none of the<01:01:10.160><c> state's</c><01:01:10.559><c> 151</c><01:01:11.280
• to a friend or a family likely to lend to a friend or a family member<01:01:33.760><c> if</c><01:01:
• The lending environment is tough.

Committee: Senate Commerce