Transcript Highlights:

• , the fleet operator is required to pay for those infrastructure upgrades.
• how Minnesota should develop AV policy how Minnesota should develop AV policy to<00:50:32.120>
• infrastructure, or traffic disruption. infrastructure, or traffic disruption.
• to that idea in terms of developing to that idea in terms of developing further<01:23:52.400>
• Uh that's why uh we infrastructure.

Keywords: 1187, senate, all

Transcript Highlights:

• Development Partnership and CUR the Development Partnership and CUR the Center<00:02:18.080> for
• > economic<00:04:18.000> development, downtown building economic development, downtown
• the<00:05:15.919> city<00:05:16.080> of development director for the city of development
• We have four infrastructure is old.
• Um I develop their projects as well.

Keywords: 1183, house

Transcript Highlights:

• We elected leadership, and development.
• How does that look in terms development.
• Like they're commenting on these development proposals.
• The infrastructure for an electric vehicle.
• <01:41:28.239> in influence new modes of development in influence new modes of development

Keywords: 912, senate, all

Summary: The joint informational briefing focused on the Hawaii Department of Transportation’s work under the Navah settlement, which was described as a first-of-its-kind climate agreement tied to the state’s constitutional public trust and clean-environment obligations. Speakers said the settlement was intended to accelerate progress toward Hawaii’s 2030 and 2045 clean energy goals, especially by addressing transportation, the state’s largest source of greenhouse gas emissions. They emphasized that the agreement formalizes milestones, reduces dependence on changing administrations, and includes a role for the legislature alongside the courts and executive branch. DOT and Earthjustice representatives outlined the main settlement deliverables: creation of a new Office of Energy Security and Community Outreach, formation of a youth council, and development of an emissions reduction plan that will be updated over time. They also highlighted a new project-level greenhouse gas/VMT scoring tool, described as the first of its kind in the nation for DOT-wide use, to evaluate the climate impact of transportation projects. The presentation tied these efforts to prior legislative actions, including the state’s climate emergency declaration, net-zero/net-negative targets, and Act 131’s requirements for multimodal network planning and emissions reporting. A substantial portion of the briefing was devoted to the youth council, which reported 20 members selected from 83 applicants, representation from across the islands, and work on bylaws, committees, and outreach. Youth members described feedback they gave on the energy security plan, a student leadership summit presentation, and future plans to meet with legislators and participate in the Climate Future Forum. DOT also said the settlement’s transportation strategies include clean fuels, electrification, aviation sustainable aviation fuel, marine shore power, and carbon sequestration, including expanded native tree planting and fire mitigation work. No formal votes or legislative actions were taken during the briefing. Members discussed implementation challenges, including cost and supply constraints for aviation and marine decarbonization, but DOT said industry stakeholders were not rejecting the goals, only raising affordability and timing concerns. Officials also noted that a GIS map for network gaps was in development and that the settlement’s pedestrian, bike, and transit connectivity requirement would compress roughly 15 years of work into five years, with an estimated annual commitment of $40 million to $50 million.

Transcript Highlights:

• Development and Wrap Up. If the panel could come forward, that would be great.
• There's 15,000 PFAS with more being developed every day.
• As new chemicals get developed These might have different and new health effects.
• It's comprised of key stakeholders to develop the Senate Memorial 19 report.
• It's comprised of key stakeholders to develop the Senate Memorial 19 report.

Transcript Highlights:

• Um much coin infrastructure platform.
• We have staff that is both on the business development side as well as the development coding side to
• ><01:33:03.920> need<01:33:04.080> to infrastructure you choose, you need to infrastructure
• <01:46:41.040> it's connected to the infrastructure it's connected to the infrastructure it's
• > develop.

Keywords: 1189, house, all

Summary: The commission met with a quorum, approved the agenda, and approved the November 12 minutes after a motion, second, and unanimous voice/online consent. The chair said the meeting would include two presentations—one from Noah Herman of Fortress Global and one from John Kicko and team from Hedera—followed by discussion of the commission’s next steps and public comment. The chair also noted he was still seeking a clerk for note-taking. Herman’s presentation focused on stablecoins, blockchain use cases, and operational considerations for states and other institutions. He described Fortress as an enterprise crypto-wallet and treasury platform serving corporates, governments, and nonprofits, and used examples such as Save the Children and a large global commodities firm to illustrate custody and treasury management on blockchain rails. He said stablecoins are designed to maintain a U.S. dollar peg, are increasingly backed by treasuries and subject to greater transparency, and are being adopted by major firms and payment companies because they can improve speed, reduce cost, and simplify payments. He also highlighted market growth, including claims that stablecoins now represent a significant share of on-chain activity and are a major holder of U.S. Treasuries. He identified custody as a key issue for state and institutional use, outlining qualified custody, managed custody, and self-custody models. He said the main practical challenge for the commodities client was moving funds safely and quickly across global time zones and that blockchain rails could solve problems that traditional banking rails could not. He framed the broader trend as one of accelerating institutional adoption, citing recent acquisitions and product launches by Visa, Stripe, Citi, and PayPal as evidence that stablecoin infrastructure is becoming mainstream.

Transcript Highlights:

• Those counties that are limited with the tech infrastructure...
• While Beacon... ...distributed through trusted public media infrastructure.
• So we have ongoing applications in order to develop algorithms for flood risk mapping.
• There is a lot of infrastructure that's being built at FIU.
• We have nowadays a lot of infrastructure in order to support our analysis.

Summary: The Natural Resources and Disaster Subcommittee met to discuss the use of artificial intelligence in emergency management and related public-safety applications. The panel included the Florida Division of Emergency Management, the University of Florida, and Florida International University. FDEM described current uses of AI for invoice anomaly detection, automated situation report drafting, and data synthesis in WebEOC, emphasizing that AI is used to speed analysis and improve efficiency but not to replace human decision-making. The agency also said counties retain access through backup communications such as Starlink and generators, and that WebEOC provides shared visibility, archived documentation, and a common operating picture across all 67 counties. University of Florida representatives highlighted Beacon, an AI-enabled public safety audio service developed with FDEM and public media partners to distribute official alerts across multiple platforms, including mobile devices and digital streams. UF IFAS described a geospatial AI “Gaia bot” that turns satellite data into natural-language answers and maps for crop damage assessment and flood-risk mapping, with a focus on making complex Earth-observation data more accessible to growers and policymakers. FIU presented AI models that predict water levels and flood mitigation settings much faster than traditional simulation tools, with comparable or better accuracy, and said the work includes explainability features and broader research on compound flooding. Members asked extensive questions about storm surge, hallucinations, whether generative AI or large language models were being used, data vetting, and hardware needs. The witnesses repeatedly stressed that their systems are not autonomous, that human review remains central, and that the models used are primarily data-driven predictive tools rather than chatbot-style generative AI. The meeting ended with thanks to the panelists and an announcement that the committee’s policy chief was leaving for another position. Representative Mooney then moved that the committee rise, and the meeting adjourned.

Transcript Highlights:

• The infrastructure is being built.
• And that's the infrastructure.
• That's the infrastructure that this body has put forward in Indian country.
• And that's the infrastructure.
• And so the infrastructure is not there.

Keywords: 988, house, all

Summary: The committee held an informational hearing on the Missing and Murdered Indigenous People (MMIP) crisis in California, with opening remarks emphasizing the need for sustained funding, better coordination, and recognition that foster care, jurisdictional gaps, and public safety systems are all connected to the crisis. Members and tribal leaders described the issue as longstanding and systemic, and several speakers noted progress in recent years, including the Feather Alert, state grant funding, DOJ coordination, and MMIP summits, while stressing that much more remains to be done. The first panel featured tribal leaders from Southern, Central, and Northern California who described how overlapping tribal, county, state, and federal jurisdictions delay investigations and leave families without answers. They called for real-time regional response agreements, better data sharing and transparency, stronger tribal law enforcement capacity, and ongoing rather than one-time funding. Several leaders shared personal stories of missing or murdered relatives and said the state must treat tribal cases with the same urgency as others. Committee members asked about next steps, including training for law enforcement on Public Law 280, improving local relationships, and ensuring tribal courts and protection orders are not overlooked. The second panel focused on strengthening systems and services. The California Highway Patrol commissioner reported that Feather Alert implementation has improved after prior criticism, with more alerts activated and a higher recovery rate, and said CHP has expanded outreach, training, and tribal liaison work. The Department of Justice’s Office of Native American Affairs described work under AB 3099 and AB 1334, including a Public Law 280 advisory council, improved crime reporting, a tribal police pilot program, and outreach on Feather Alert and other resources. A Coyote Valley council member described a local MMIP program that supports prevention and family outreach. Members and panelists also discussed the need for better training, clearer jurisdictional authority, and stronger support for tribal justice systems. The final panel addressed foster youth and the MMIP crisis, arguing that Native children in foster care are at heightened risk of going missing or being exploited. Speakers said Native children are disproportionately represented in foster care, that many MMIP cases begin with child welfare system failures, and that social workers and attorneys often do not know or use Feather Alert procedures quickly enough. They urged stronger ICWA implementation, culturally grounded prevention and healing services, housing and mental health support, and immediate coordination among tribes, families, and agencies when a child is missing.

Transcript Highlights:

• I'm with the Agribusiness Development Corp.
• I'm with the Agribusiness Development Corp.
• I'm with the Agribusiness Development Corp.
• the process of getting the development the process of getting the development project<01:40:11.199
• I'm Wendy Gat with the Agribusiness Development Corp.

Keywords: 910, house, all

Transcript Highlights:

• , stewardship of public infrastructure, stewardship of public infrastructure, delivering<00:04:21.239
• <00:44:49.280> locating developments, businesses, etc. locating developments, businesses,
• aspect of transit oriented development aspect of transit oriented development to<01:00:11.080>
• That means real preventative maintenance, resilient infrastructure, and a project development process
• Great<02:07:16.160> development.

Keywords: 1187, senate, all

Transcript Highlights:

• Two is poor aging infrastructure on bridges.
• Obviously better infrastructure, but that PR campaign worked.
• You know, soil and dust mitigation for developments.
• When they're going to develop their properties, Mr.
• We do that in Albuquerque when we're developing properties, especially when we develop large residential

Transcript Highlights:

• My intention is that today's witnesses will help us develop a better understanding.
• of that infrastructure.
• them, you know, substitute their own infrastructure.
• They haven't seen that kind of infrastructure work in a long time.
• They haven't seen that kind of infrastructure work in a long time.

Summary: The committee held an informational hearing on Carrier of Last Resort (COLR) to examine its history, current operation, and possible future changes in California. Chair Tasha Berner said the hearing was prompted in part by AT&T’s 2023 request for relief from COLR obligations and by broader concerns about public safety, affordability, universal service, and access to modern broadband and telecommunications. The first panel featured a telecommunications expert who traced COLR back to universal service principles and explained how states have handled COLR differently, including full deregulation, limited rural obligations, or transition pathways tied to competition and customer protections. Members asked about affordability, federal and state processes for service withdrawal, and whether COLR remains necessary given modern competition. CPUC staff then described California’s COLR framework, explaining that universal service rests on access, reliability/quality, and affordability, and that COLR requires carriers to provide basic service, including voice-grade calling, 911 access, relay services, and Lifeline. Staff said AT&T’s application sought relief in nearly all of its territory, but no replacement COLR came forward during the proceeding, and public participation hearings drew thousands of comments and strong concern from rural and vulnerable customers. The CPUC outlined its ongoing rulemaking to reconsider whether the 1996 COLR rules and 2012 basic-service definition still fit current conditions, with workshops and public hearings scheduled and a proposed decision expected later in the year or into 2026. Members pressed staff on geographic outreach, wireless coverage, whether broadband can be part of basic service, public safety during wildfires, and what reporting and complaint processes currently exist. In the final panel, industry and public-interest witnesses sharply disagreed. A U.S. Telecom representative argued COLR is outdated, costly, and copper-focused, and said reform should allow technology-neutral alternatives such as wireless, fiber, and satellite while preserving reliable voice and emergency access. The CPUC Public Advocates Office countered that COLR remains a necessary public safeguard, especially for rural and low-income customers, and argued that any transition should maintain or improve service, with public benefits such as broadband investment and continued protections for 911, disability access, and affordability. Committee members focused on the difference between an obligation to serve everyone and a mere option to serve, and on whether the Legislature should provide clearer guidance as the CPUC’s rulemaking moves forward.

Transcript Highlights:

• It doesn't impact active infrastructure or current fuel supply chains.
• We believe it is inappropriate for the Commission to develop such statewide standards and that these
• This bill has no mandates for water infrastructure.
• This bill, SB 429, helps homeowners, businesses developers understand whether they're getting a fair
• Who will OES consult with to developing the curriculum for such trainings?

Keywords: 988, house, all

Transcript Highlights:

• Several have been ignited by electric utility infrastructure, as everybody knows.
• We've also invited the CPUC and the Office of Energy Infrastructure and Safety to join the hearing and
• It causes higher rates, higher costs for loans, for infrastructure improvement, and so on.
• It causes higher rates, higher costs for loans, for infrastructure improvement, and so on.
• And third, develop state-led financing strategies for resilience.

Keywords: 987, senate, all

Summary: The committee held the first of several informational hearings on the SB 254 Natural Catastrophe Resiliency Study, focused on wildfire risk, utility liability, and how to finance catastrophic losses. Chair Allen opened by describing California’s recent utility-ignited wildfires, the creation of the wildfire fund under AB 1054, and SB 254’s extension of that fund and requirement for a study. The California Earthquake Authority, as wildfire fund administrator, presented the report’s process and findings, emphasizing that the study was intended to be neutral and broad, based on extensive stakeholder outreach, and that the status quo is not working well for survivors, communities, ratepayers, insurers, or utilities. CEA’s report organized recommendations into three policy pathways: continued mitigation investment, more equitable allocation of catastrophe burdens, and expanded state roles in catastrophe financing. For utilities, the report discussed options such as setting a binding risk-tolerance standard, preserving safety certificate accountability, tying executive compensation more directly to safety, creating confidential reporting with safe-harbor protections, reforming utility liability including possible changes to inverse condemnation, limiting damages, reducing insurance subrogation, and creating a fast-pay facility for survivors. The financing analysis compared a more durable wildfire fund, risk transfer/reinsurance, liability reforms, and state-backed mechanisms such as a state insurer, a state backstop, and broader funding for community wildfire mitigation. The CPUC said wildfire mitigation oversight has improved, but wildfire-related costs are driving electricity bills higher and creating an affordability crisis. The Office of Energy Infrastructure Safety highlighted its wildfire mitigation plan review and field inspections, and recommended stronger safety reporting and more safety-weighted executive compensation. In member discussion, senators and assemblymembers focused on the cost of the status quo, whether the burden should be shared by ratepayers, utilities, the state, or other parties, and whether California should consider broader disaster-financing approaches. Several members raised concerns about inverse condemnation, the pace of survivor compensation, local land-use responsibility, and the need for a more comprehensive statewide solution rather than piecemeal bills. No votes or formal actions were taken; the hearing was informational only.

Transcript Highlights:

• <00:16:47.519> and department of economic development and department of economic development
• The bill with data center developers.
• > key<00:24:23.919> operational key infrastructure and key operational key infrastructure
• infrastructure since 1998. infrastructure since 1998.
• infrastructure should not be political. infrastructure should not be political.

Keywords: 1187, senate, all

Transcript Highlights:

• company that develops Saint Paul-based company that develops and<00:13:28.040> operates<00:13
• Paul and we are the partner developing Paul and we are the partner developing the<00:13:38.560><
• Minnesota-developed innovation. Minnesota-developed innovation.
• foundational infrastructure that will foundational infrastructure that will shape<00:15:54.959><
• intention for renewable development intention for renewable development account<00:16:19.040>

Keywords: 1187, senate, all

Transcript Highlights:

• With that, why don't we start with EDD, the Employment Development Department.
• This is about workforce development. Okay. Thank you.
• So I don't know if that's development teams you bring on.
• Because maybe we need to do just a big infrastructure project.
• Ours go beyond just infrastructure.

Keywords: 987, senate, all

Summary: The committee held an informational hearing on the Governor’s May Revision proposals for labor, public safety/judiciary, and transportation, and no votes were taken. In Part A on labor, the Employment Development Department reviewed proposals for EDD Next document management system funding, updated UI loan interest costs, disability insurance and paid family leave benefit and administration adjustments, WIOA funding changes, UI administrative and benefit changes, school employee benefit adjustments, an EMT training reappropriation, and a technical correction tied to EDD Next. PERB discussed funding tied to AB 28 and AB 1, including litigation-related workload and new jurisdiction over legislative employees. DIR presented proposals for legal unit reclassifications, two major IT modernization projects, a new Cal/OSHA emerging technologies unit, a COIA reappropriation, and trailer bill language on electronic assessment payments and the DWC director salary cap. CalHR proposed additional funding for a consolidated employee assistance program contract, and CalPERS and CalSTRS presented budget adjustments tied to investment costs and state contribution changes. Members focused heavily on UI debt and interest payments, asking the administration for a plan to reduce the outstanding loan and relieve employers. Finance said no specific repayment plan was included in the May Revision, while LAO said the state’s UI tax structure is structurally insufficient and that any debt payoff should be paired with tax-system reform. Senators also questioned EDD Next costs and timelines, PERB’s caseload and staffing needs, and DIR’s emerging technologies unit, with LAO noting that the unit would appear focused on physical workplace safety rather than broader AI labor issues. CalHR said the new EAP contract would consolidate services, improve access to clinicians, and lower costs relative to the current model. CalPERS defended higher external management fees as part of a strategy to pursue higher net returns, while some members pressed for more transparency about private investments; CalSTRS said it was not prepared to address investment-strategy questions at this hearing. Public comment in Part A was dominated by advocates urging support for an immigration enforcement emergency relief fund, along with comments supporting the Jails to Jobs proposal, the Apprenticeship Innovation Fund, and additional PERB funding. The chair noted that many of the immigration-related requests might fall under other committees and said staff would follow up. In Part B, Finance and LAO outlined judicial branch and DOJ May Revision items, including funding for court interpreter services, appellate court security, lactation room implementation delays, courthouse construction reappropriations, and DOJ budget increases. LAO recommended approving the language-access proposal with a report on reducing interpreter cost growth and reducing the General Fund backfill for state court facilities by $10 million on an ongoing basis.

Transcript Highlights:

• A state procurement process is not required when a developer, a private developer, is developing the
• The developer does. A the construction. The developer does.
• when a developer, a private developer<01:25:08.800> is<01:25:08.960> developing<01:25:
• <01:25:10.639> In developer is developing the units.
• In developer is developing the units.

Keywords: 0:00:07 Call to Order and Roll Call 0:00:47 Approval of Minutes 0:01:05 Correspondence and Information Items 0:54:15 Lease Rpt from Postsecondary Institutions 0:56:19 Project Rpt from Finance and Administration Cabinet 1:08:46 Lease Rpt from Finance and Administration Cabinet 1:13:00 Rpt from Office of Financial Mgmt - KIA 1:20:00 Office of Financial Management 1:35:50 Adjournment, 958, all

Summary: The meeting began with routine business, including welcoming new committee member Senator Reginald Thomas, approving the minutes, and receiving a correspondence report on several information items. Those items included University of Kentucky research equipment funding, UK capital project funding using federal/private funds, debt issues from McGoffin County and Owen County school districts, lease modifications by the Division of Real Properties, asset preservation project revisions at Eastern Kentucky University and Northern Kentucky University, and Kentucky Communications Network Authority (KCNA) information on Kentucky Wired critical infrastructure. The main discussion focused on a dispute over the Kentucky Wired communication shelters, or “huts,” and related payments under KCNA’s agreement with Asellicom/Excel. Brad Kilby of Asellicom testified that KCNA had not paid for the huts, that Asellicom had not received the alleged $8 million or any later payment, and that Asellicom remained the legal owner. Committee members pressed him on whether payment had been received, whether anyone else might have received it, and whether the lawsuit or dispute resolution process clarified the issue. Kilby said no payment had been received and that the matter was part of ongoing litigation. KCNA Executive Director Doug Hendricks and General Counsel Adam Atkins then testified. They said a certified check for $8.5 million was mailed in July, based on the Finance and Administration Cabinet secretary’s determination that $8.5 million was due under the model procurement code, even though KCNA had initially requested about $12 million to cover a worst-case estimate. They said the contract allowed payment in full or in tranches, that the huts were completed and operational, and that KCNA had not received documentation supporting Asellicom’s higher $10.1 million claim. Members expressed frustration over the missing check and the broader implications for Kentucky Wired, and one member requested that the committee obtain all agency requests related to KCNA/Kentucky Wired since inception; the co-chairs said they would look into making that information available. No formal vote was taken on the dispute during the portion provided.

Transcript Highlights:

• Infrastructure, for example.
• the backlog and infrastructure needs that we had that were created. ...infrastructure needs that we had
• And that we don't depreciate critical infrastructure needs for our communities.
• be spent on other infrastructure needs.
• tax and the inability for that to be spent on other infrastructure needs.

Summary: The Select Committee on Property Taxes heard first from city representatives through the Florida League of Cities, who argued that property taxes are a stable local revenue source that funds core services such as police, fire, parks, public works, and stormwater work. Casey Cook emphasized that cities are optional governments with widely different tax bases and service levels, that exemptions shift the burden to fewer taxpayers, and that transparency already exists through TRIM notices, public budgets, and local hearings. Sarah Campbell of Fernandina Beach, T. Michael Stavris of Winter Haven, and Stephen O’Kee of Port St. Lucie described their budget processes, the share of general-fund revenue coming from property taxes, reserve policies, debt and capital planning, and the impact of inflation, minimum wage increases, and personnel costs. They all said local governments need predictable revenue and that any property tax changes would require careful consideration of replacement funding or service reductions. Members questioned the city panel about whether homebuyers are clearly informed about city versus county taxes and services, the role of HOAs, how many lobbyists cities employ, reserve levels, average salaries, and whether utility revenues are used only for utility purposes. The panel said TRIM notices, realtor listings, and city websites provide tax information; HOAs generally do not provide emergency services; lobbyists help local governments track Tallahassee legislation; reserves vary by city and fund; and utility revenues are generally restricted, though some cities use limited transfers. Members also asked about revenue replacement if ad valorem taxes were reduced or eliminated, and the panel said options would likely include user fees, service cuts, or other local revenue shifts. The chair also asked about public safety consolidation, and the response was that such decisions are local and may shift costs rather than create true savings. The committee then heard from county representatives after an overview by the Florida Association of Counties’ Davin Suggs, who framed counties as shared partners with the state and emphasized the gap between rising market values and the shrinking share of taxable value after exemptions and assessment limits. He said counties face a mismatch between revenue based on taxable value and expenses driven by real-world costs, and noted that most counties either held millage steady or lowered it without reaching rollback rates. He also highlighted that property taxes are only one part of county revenue, with charges for services and intergovernmental revenue often larger in some counties, and that public safety at the county level includes more than law enforcement, such as EMS, emergency management, inspections, and corrections. Deborah Manzo of Okeechobee County described a fiscally constrained rural county with limited staff, a county-supported airport, heavy reliance on property taxes for the general fund, and major cost pressures from inflation, insurance, retirement, and state and federal mandates. She said the county lowered millage slightly over recent years but still depends on multiple revenue sources and special assessments, and she flagged Medicaid, medical examiner costs, and possible firefighter workweek changes as significant concerns. Bay County Administrator Mark McQueen said his county’s budget is shaped by Hurricane Michael recovery, non-discretionary obligations, and rapid growth; he described ongoing FEMA reimbursement delays, substantial borrowing to cover disaster costs, and continuing interest expenses while the county waits for reimbursement. The county panel was still in progress when the transcript ended.

Transcript Highlights:

• So this is significantly more robust, where a significant infrastructure would need to be developed here
• So this is significantly more robust, where a significant infrastructure would need to be developed here
• would need to significant infrastructure would need to be<00:23:31.760> developed<00:23:32.159
• Having a well-developed infrastructure and capacity to move on this quickly is an obvious strength if
• <00:54:21.040> infrastructure<00:54:21.520> and well-developed infrastructure and well-developed

Keywords: 1189, house, all

Summary: The commission met on November 12 and first approved the September 17 and October 15 draft minutes unanimously after brief discussion. Members also identified themselves for the record, including a new member from Bumpsk Bank, a staff attorney from the Secretary of State’s Bureau of Securities Regulation, a prior crypto commission participant, and a uniform law commissioner involved in tokenization projects. The main presentation was by UNH law professor Seth Orinberg, who discussed the federal GENIUS Act and the pending Clarity Act and how they affect New Hampshire’s options in the digital asset space. He described the GENIUS Act as governing payment stablecoins/stable tokens, defining them as blockchain-based assets used primarily for payments, redeemable for a fixed amount of national currency, and required to maintain stable value. He said the law creates three possible state roles: hosting federally qualified issuers, becoming a state qualifier for issuers up to a $10 billion threshold, or exploring state-backed issuance as a sovereign. He noted that the state-qualification path would require conforming legislation, examination capacity, and coordination with Treasury, while the sovereign-issuer theory is legally uncertain and may become a test case. Orinberg also outlined the core compliance framework he said applies to covered issuers: 100% reserve backing in high-quality liquid assets, monthly public reserve reporting, no yield or interest-like rewards, segregation of reserve assets, immediate redemption at face value, and anti-money-laundering/know-your-customer obligations. He then turned to the Clarity Act, describing it as a broader market-structure bill that would create categories such as digital asset, digital commodity, digital security, and ancillary asset, with self-certification procedures for issuers. He said the two federal laws together would separate payments from investments, preempt inconsistent state standards for covered payment stablecoins, and likely reshape the boundaries of state authority over digital assets.

Transcript Highlights:

• development plan to really reach out to me.
• development plan to really reach out to me.
• Your department and USDA Rural Development.
• Most of our new development is.
• We can't handle the increase in infrastructure costs.

Keywords: 908, all

Summary: The committee met to continue its tax reform and relief study agenda, approved the December 3, 2025 minutes, and announced a new subcommittee to examine property tax statement issues with counties, auditors, and the tax office. Representative Headland was named chair, Senator Rummel vice chair, and Representatives Dressler and Dr. Dr. and Senator Patton were also assigned. The chair noted the group may need an additional meeting and thanked staff and attendees. A major portion of the meeting focused on economic development incentives. The Department of Commerce presented on the Renaissance Zone program and TIF districts, describing Renaissance Zones as locally tailored tools that combine local property tax relief with state income tax incentives. Commerce said the program has supported thousands of projects since 1999 and cited examples from Beach and Mandan showing increases in property and taxable value, business retention, housing, and downtown revitalization. Committee members raised concerns that smaller rural communities often lack the staff and expertise to apply, and Commerce said it provides outreach through conferences, office hours, and one-on-one assistance. League of Cities and local officials from Bismarck and Ellendale echoed the capacity issue, discussed how the programs have worked in their communities, and suggested possible reforms or more targeted support for small towns. Ellendale’s mayor also described two TIF districts, one for industrial infrastructure in Oaks and one for housing infrastructure tied to a data center project in Ellendale. The committee then turned to stripper oil taxation. The Tax Department gave a comparison of oil and gas tax structures in selected states, noting that most have some form of stripper or marginal well provision, while Alaska does not appear to have a specific stripper-well exemption. Members asked for more detail on definitions and North Dakota’s annual adjusted rate. The Department of Mineral Resources followed with a detailed presentation on North Dakota stripper wells, explaining the statutory thresholds, the 12-consecutive-month production test, and the fact that once a well qualifies it remains on stripper status even if production later rises. DMR said about 11,332 stripper wells are active, representing roughly 54% of wells and about 16% of state production, and emphasized that stripper status can extend well life, preserve tax revenue, and reduce orphaned wells. Committee members and industry witnesses discussed refracs, the economics of keeping marginal wells active, and the competitive disadvantage created by North Dakota’s oil price discount. No votes were taken on these informational items.