Transcript Highlights:

• Funds not immediately needed are invested with, of course, the priority of safety, liquidity, and then
• which helps our local governments, schools, special districts, counties, cities, everyone that needs liquidity
• This allows for them to have the liquidity.
• I do really want to be clear when we're talking about safety, liquidity and yield.

Transcript Highlights:

• Uh, before Kingswood, I was a British detective, including work with MI5 on a liquid bomb terrorism plot
• Uh, before Kingswood, I was a British detective, including work with MI5 on a liquid bomb terrorism plot
• Uh, before Kingswood, I was a British detective, including work with MI5 on a liquid bomb terrorism plot
• Uh, before Kingswood, I was a British detective, including work with MI5 on a liquid bomb terrorism plot
• Uh, before Kingswood, I was a British detective, including work with MI5 on a liquid bomb terrorism plot

Bills: HF3492, HF3493, HF3494, HF3495, HF3602

Keywords: school safety, grants, education funding, Northern Lights Express, security improvements, rural schools, safe schools, charter schools, nonpublic schools, Tribal education, funding increase, safe schools aid, school security, mental health support, Tribal schools, cybersecurity, funding, mental health, evidence-based plans, public safety

Transcript Highlights:

• You know, when we pay out more money than we pay in, we've got to manage that liquidity need, so we can't
• But because our liquidity issue isn't what it was in 2020, that's allowed us to be a little bit more

Keywords: 996, all

Transcript Highlights:

• variety of commodities are transported through the port, including steel products, aluminum, minerals, liquid
• our economic development funds to purchase the distressed facility from Union Pacific for its net liquidation

Bills: SB682, SB1013, SB1369, SB1422, SB2001, SB2080, SB2366, SB2705, SB2841

Keywords: memorial highway, Captain Kevin Williams, Firefighter Austin Cheek, Smith County, transportation, pedestrian right-of-way, sidewalk users, bicycle safety, micromobility, electric scooter, motor-assisted scooter, electric personal assistive mobility device, skateboard, roller skates, driveway crossing, alley crossing, traffic safety, yield law, Texas Transportation Code, vehicle-pedestrian collision

Transcript Highlights:

• some of the vapors that that normally cause some odor issues in the plant, condensing them back into liquid
• and making a liquid fertilizer.

Keywords: 988, house, all

Transcript Highlights:

• Congress covered issuers have to keep high-quality liquid assets equal to 100% of outstanding tokens.
• our economy just because, uh, instead of the stable coin being backed, uh, by a Treasury or another liquid
• our economy just because, uh, instead of the stable coin being backed, uh, by a Treasury or another liquid
• our economy just because, uh, instead of the stable coin being backed, uh, by a Treasury or another liquid
• So having one-to-one high-liquid assets backing those would be generally bank deposits or short-term

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:

• We are testing in-house; we're testing plant material, we are testing liquids, and we're testing oils
• For in-house testing of liquids and oils, we are using a gas chromatograph (GC).
• This would help with edibles and also with the liquids that are in the vape pens.
• In fact, much of the industry would be adversely impacted by limiting product offerings to liquid forms
• However, it is unclear why the liquidation of THC would be treated differently or considered safer than

Bills: HB28, SB3, SB 3

Keywords: hemp regulation, consumable products, cannabinoids, state health, youth protection, licensing fees, criminal offenses, flash flood, flood warning, outdoor warning siren, emergency alert, disaster preparedness, flood mitigation, Hill Country floods, Texas Water Development Board, municipalities, counties, local government mandate, public safety, grant program

Transcript Highlights:

• c><00:21:42.080> of<00:21:42.279> that<00:21:42.480> hpia<00:21:43.480> liquidates
• <00:21:44.120> a years because of that hpia liquidates a years because of that hpia liquidates
• She had mentioned that last year we had to liquidate our assets, basically, and that was just to pay
• She had mentioned that last year we had to liquidate our assets, basically, and that was just to pay
• Last year we had to liquidate our assets, basically, and that was just to pay the bills.

Keywords: 912, senate, all

Transcript Highlights:

• eligibility included utilization of new technologies, use of CO2, hydrocarbon gases, natural gas liquids
• Unlike many of the liquids pipeline projects that we're familiar with in North Dakota, natural gas transmission
• it does not involve our Public Service Commission as it would with a crude oil pipeline or other liquids

Keywords: 908, all

Summary: The committee met as the Regulatory Division of the budget section and received updates on several Industrial Commission-related agencies and programs. Legislative Council first reviewed base budget materials, then the North Dakota Housing Finance Agency reported on its current appropriation and staffing, noting that its new FTEs were being filled gradually and that it remained largely funded through special and federal funds. Agency leaders described homeownership lending, loan servicing, and housing incentive fund activity, including below-market mortgage rates, down payment assistance, and a growing servicing portfolio that has increased workload but not yet required additional FTEs. Housing Finance also detailed use of the Housing Incentive Fund and homeless grant dollars. Officials said the multifamily HIF round drew more than $73 million in requests and awarded $25 million, while the single-family program supported rural development and community land trusts. Homeless grant funding was split between emergency shelter, prevention, and rapid rehousing, with performance-based scoring used to renew or reallocate awards. Members discussed housing affordability, aging households, rental assistance, and the need to coordinate housing and site-preparation messaging with Commerce. The agency asked that HIF, single-family, and homeless funding be maintained or increased in the next session. The Department of Mineral Resources then presented its budget and operations update. Staff said the agency was on track financially, had filled most of its new reclamation FTEs, and was not expecting major litigation costs beyond normal late-biennium invoices. The director reviewed agency initiatives including Project North Star IT modernization, organizational restructuring, succession planning, rulemaking, and implementation of the development incentive well tax program and critical minerals rules. He also discussed oil and gas activity, explaining that longer laterals, especially three- and four-mile wells and the first five-mile spacing case, are helping keep production relatively flat even as rig counts ease. Members asked about gas capture, hedging, break-even prices, and the effects of Iran and Venezuela on oil markets. The committee also heard about enhanced oil recovery grants and the Pipeline Authority. The EOR program’s $25 million appropriation was fully allocated to six projects, with total awards reaching about $45.1 million when other fund balances were included, subject to a possible 5% reduction if federal DOE money does not materialize. Officials said the projects are public, reimbursement-based, and will produce results over the next several years. Finally, the Pipeline Authority outlined natural gas transmission projects, including the imminent Bakken Express line and the proposed Bakken East project, which WBI was selected to advance after an Industrial Commission RFI process. The project is moving through open season, survey permission, and regulatory work, with in-service dates projected for 2029 and 2030.

Transcript Highlights:

• eligibility included utilization of new technologies, use of CO2, hydrocarbon gases, natural gas liquids
• Unlike many of the liquids pipeline projects that we're familiar with in North Dakota, natural gas transmission
• it does not involve our Public Service Commission, as it would with a crude oil pipeline or other liquids

Summary: The committee met as the Regulatory Division budget section and first reviewed the North Dakota Housing Finance Agency’s budget and program update. Legislative Council outlined the agency’s base budget and historical funding, and Housing Finance staff reported on homeownership lending, housing incentive fund (HIF) awards, and homeless grant spending. Agency officials said the five new FTEs approved last session are mostly filled, with one homeless program manager still open. They described strong demand for HIF, noting that September 2025 multifamily requests exceeded $73 million while only $25 million was available, and that single-family and homeless programs are also heavily subscribed. Members discussed the agency’s local loan servicing workload, interest-rate benefits, down payment assistance, and the need to coordinate housing discussions with Commerce and site-preparation efforts. The agency asked that HIF, single-family, and homeless funding be maintained or increased, and committee members emphasized accountability and statewide access for homeless prevention and rapid rehousing funds. The Department of Mineral Resources then presented its budget and agency initiatives. Staff reported that the department is on track financially, that most of the five new reclamation-related FTEs are hired, and that litigation costs tied to oil and gas matters are expected to continue appearing late in the biennium. The director reviewed ongoing modernization and organizational efforts, including the North Star IT project, succession planning, training, and rulemaking for oil and gas and critical minerals. Members asked about longer laterals, spacing, and production trends; the department said operators are increasingly drilling three-, four-, and even an initial five-mile lateral, which is helping keep North Dakota oil production relatively flat even as rig counts ease. The director also discussed oil price volatility tied to Middle East conflict, hedging practices among producers, gas capture remaining around 95%, and the likelihood that current production levels will stay near flat unless prices or geopolitical conditions change significantly. An update on the enhanced oil recovery grant program followed. The Industrial Commission’s grant administrator said the full $25 million appropriation was allocated in the fall to six projects, and because the oil and gas research fund also had carryover and biennial tax revenue, total awards reached about $45.1 million. The projects are expected to run two to four years, with meaningful results not likely until mid-2026 or later. Members questioned whether the public would have access to the research findings and how accountability would be maintained; staff said the grants are reimbursement-based, require regular status reports, and will culminate in public final reports. The committee also heard from the North Dakota Pipeline Authority, which updated members on natural gas transmission projects, especially WBI Energy’s proposed Bakken East pipeline. The authority said the project has advanced through a nonbinding and then binding open season, with WBI now securing survey permissions and moving through regulatory and landowner processes, while other related gas transmission projects near Minot and Epping are also in development.

Transcript Highlights:

• Burgess said PFAS chemicals are in foam because they are very good at putting out liquid fuel fires like
• Burgess replied that they are in the foam because they are very good at putting out liquid fuel fires
• Burgess said these PFAS chemicals are very good at putting out liquid fuel fires like gasoline and oil

Bills: HB2207, HB2225, HB2602, HB2641

Keywords: braille, disability access, education funding, state corrections, inclusion, HB 2225, Yavapai County, northern Arizona regional training academy, training academy, public safety training, law enforcement training, police academy, first responder training, capital appropriation, state general fund, state treasurer, lapsing appropriation, section 35-190, capital costs, regional training facility

Summary: The committee first heard HB 2641, which would ban firefighting foam containing intentionally added PFAS chemicals. The sponsor said the bill was intended to protect firefighters and the public from carcinogenic and persistent chemicals that can contaminate groundwater, and noted Arizona had already banned the foam for training. A University of Arizona public health researcher testified that firefighters have higher PFAS levels than the general public and that AFFF use is associated with elevated exposure, while a firefighters’ association representative said alternatives exist and that the bill would remove uncertainty for departments. The committee passed HB 2641 unanimously, 15-0. The committee then heard HB 2602, a $24,000 appropriation for a 10% pay increase for Department of Public Safety employees in fiscal year 2027. The sponsor and supporters from the Arizona Troopers Association argued the raise was needed for recruitment and retention, citing vacancies, departures, and the cost of training new troopers. Several members supported the idea but raised concerns about the budget impact and the broader issue of pay disparities across agencies and state employees. The bill received a do pass recommendation on a 10-0-3 vote, with two members voting no and three voting present. Finally, the committee considered HB 2225, which would appropriate $10 million for capital costs at the Northern Arizona Regional Training Academy in Yavapai County and keep the funds from lapsing until 2029. The sponsor and Yavapai County law enforcement witnesses said the academy is overcrowded, serves multiple agencies across northern Arizona, reduces travel and lodging costs, and provides both basic and in-service training. Some members questioned whether the state should fund a county-based facility and raised concerns about the size and structure of the appropriation, while others supported the training mission but wanted the issue handled in the budget process. The committee voted to give HB 2225 a do pass recommendation, with several members voting no or present.

Transcript Highlights:

• And there are still a lot of questions, and we're watching closely the potential expansion into liquid
• They're kept liquid and they're ready for you in the event of a downturn.
• And in our reserves, we're counting a few things that aren't liquid that aren't easily accessible, like

Keywords: 996, all

Transcript Highlights:

• third proposal is a technical adjustment for reappropriations, and we are requesting to extend liquidation
• general fund appropriation from 2022 to allow grantees sufficient time to meet the expenditure and liquidation
• Additionally HCD is requesting an extension of the encumbrance and liquidation deadlines for three United

Keywords: 988, house, all

Transcript Highlights:

• provides coverage for policyholders where the insurer has become insolvent and is ordered to be liquidated
• issue comes about is when we have this happen, and it does occasionally happen, where we have a liquidation
• ><01:46:41.719> ordered<01:46:42.040> to<01:46:42.119> be<01:46:42.280> liquidated
• to be liquidated by the courts<01:46:45.080> what<01:46:45.320> happens<01:46:45.679><
• ordered by the courts of an liquidation ordered by the courts of an insurance<01:47:23.960> company

Keywords: 1187, senate, all

Transcript Highlights:

• to free up the funding to liquidated to free up the funding to allow<00:17:39.280> the<00:17:
• We would terminate those contracts and liquidate the funds in order to have adequate funds to fund the
• We would terminate those contracts and liquidate the funds in order to have adequate funds to fund the
• We would terminate those contracts and liquidate the funds in order to have adequate funds to fund the
• We would terminate those contracts and liquidate the funds in order to have adequate funds to fund the

Keywords: 1191, senate, all

Transcript Highlights:

• It is a volatile instrument of investment, and the treasurer needs liquid assets, not gold.
• It is a volatile instrument of investment, and the treasurer needs liquid assets, not gold.

Keywords: 1182, all

Summary: The Senate met with prayer and the Pledge of Allegiance, then moved through several Committee of the Whole calendars considering House bills on topics including licensing timeframes, homicide, forcible entry and detainer, nuisance actions, family/abortion-related offenses, patient records, education, public health, child support, school curricula, tax administration, state treasurer investments, public records, shopping carts, health professional licensure, and state land use. Most bills were reported out with do-pass recommendations, several with committee amendments adopted first. The transcript includes repeated roll-call and voice votes, with members often explaining opposition on bills involving vaccination mandates, fetal/prenatal development instruction, public records fee exemptions for legislators, shopping cart regulation, and small subdivision water-supply concerns. Supporters generally framed bills as clarifying law, improving enforcement, or limiting burdens on government and businesses. Opponents raised concerns about public health, local control, school costs, transparency abuses, and water policy. The Senate also recessed briefly and later returned to third reading votes on multiple bills. Several measures passed on final vote, including HB 2016, HB 2140, HB 2195, HB 2439, HB 2028, HB 2557, HB 2086, HB 2830, HB 2327, HB 2460, HB 4056, and HB 2660, with recorded vote totals generally ranging from 16-10 to 26-0. The session ended with committee announcements, a note about a softball game sign-up, and adjournment until the next scheduled meeting.

Transcript Highlights:

• then I'll replace on line four, replace lines 44 through 45 with the following: exempt from the liquidation
• provisions of Section 17-5-7, which again reflects what you just said. ...exempt from the liquidation

Bills: HB358, SB92, SB194, SB230, HB358, SB92, SB194, SB230

Keywords: juvenile justice, detention, age of majority, jurisdiction, child welfare, K-12 education, wireless communication devices, digital safety, social media education, classroom distraction, agriculture authority, eminent domain, property rights, tax exemption, agriculture center, SNAP, nutrition assistance, benefits theft, state reimbursement, food security

Transcript Highlights:

• one of their products for the heat stick— the device itself actually contains a heat stick but also liquid
• nicotine, so... ...stick but also liquid nicotine, so they're going to continue, and those products

Bills: HB30, HB263, HB357, HB359, SB60, SB102, HB30

Keywords: elections, post-election audit, election audit, risk-limiting audit, ballot audit, election integrity, voter confidence, Secretary of State, judge of probate, canvassing board, poll watchers, ballot containers, manual tally, recount, county election, statewide election, general election, absentee ballots, provisional ballots, election transparency

Transcript Highlights:

• inability to provide a recent paycheck, provided that the applicant can provide evidence of sufficient liquid
• inability to provide a recent paycheck, provided that the applicant can provide evidence of sufficient liquid

Keywords: 912, senate, all

Summary: The Senate Committee on Commerce and Consumer Protection held decision-making and hearing sessions on February 25, 2025, on several measures. In decision-making, the committee passed with amendments SP 588 SD1, SP 1245 SD1 (pharmacists), SB 1287 (transparency), and SP 1298 SD1 (recycling), generally adopting agency-requested or technical amendments and in several cases pushing the effective date far into the future to keep the bills moving. The committee deferred SP 1149 SD1 and SP 281 SD1 for one day, and indefinitely deferred SP 1286 SD1 on motor vehicles after noting no supportive or opposing testimony and that the Office of Consumer Protection wanted to work further with the introducer. In the later hearing on consumer-protection-related measures, the committee heard testimony on SB 419 (insurance), SB 942 (rental applications), and SB 1142 (insurance proceeds). SB 419 would require auto insurance to cover replacement of a damaged child passenger restraint system; the Attorney General’s office suggested language to avoid contract impairment, and the measure was advanced with amendments. SB 942 would bar landlords from rejecting applicants solely for lack of a recent paycheck if they can show sufficient liquid assets or unearned income; testimony was largely supportive, with Realtors asking for clarifying amendments to protect their fiduciary duties, while a witness opposed those changes as an unnecessary burden on retirees and elders. SB 1142 would impose requirements on mortgage services for disbursing insurance proceeds after damage to residential property; DCCA and the Council for Native Hawaiian Advancement supported it, and the committee advanced it with technical amendments and a defective effective date. Across the actions, the committee repeatedly voted to pass measures with amendments, with the chair voting aye and, on SB 942, the vice chair voting with reservations over the Realtors’ amendments. No measures were rejected in the portions provided, and the committee adjourned after adopting the recommendations.

Transcript Highlights:

• heats it, and you replace just the liquid in the bottle.
• heats it, and you replace just the liquid in the bottle.
• heats it, and you replace just the liquid in the bottle.
• the point where it is in a less liquid the point where it is in a less liquid state<01:38:17.000
• We meet the objectives of first safety, liquidity, and try to achieve a high rate of return.

Keywords: 928, house, all

Summary: The committee meeting began with an overview from the Legislative Budget Assistant Office on how Ways and Means will work with agencies and leadership during the budget and revenue-estimating process. Staff explained that the governor’s budget is still being developed, agencies are cautious about going on record early, and the committee will use worksheets and updated fiscal reports to track estimates. The presentation emphasized that the fiscal year 2025 budget status is a point-in-time snapshot and remains fluid because the annual comprehensive financial report has been delayed, which could change the beginning balances for both the general fund and education trust fund. The budget update highlighted that the general fund is currently stronger than originally assumed, while the education trust fund is weaker. The speaker said the general fund began FY25 with a much larger balance than expected, while the education trust fund came in lower due to higher-than-budgeted adequacy spending and weaker business tax performance. Revenue trends showed the general fund slightly ahead year to date, but the education trust fund down significantly. The committee also discussed unbudgeted appropriations, including attorney general litigation, legal settlements, abandoned property claims, adequacy true-ups, and education freedom accounts, as well as the role of lapses and off-budget items in the final balance. Members asked about the delayed liquor commission audit and whether it could affect revenue forecasts. Staff said the delay was mainly caused by the commission’s switch in point-of-sale systems and staffing losses, but did not expect major ongoing reporting issues. They also noted that liquor fund variances are more likely tied to Medicaid expansion costs than to commission operations. The governor’s office was said to be working on possible budget reductions, but no January request to the fiscal committee was expected. Commissioner Lindsay Stepp of the Department of Revenue Administration then presented an overview of state revenue sources, focusing first on the meals and rentals tax. She explained that DRA administers 14 taxes that account for most state revenue, and that meals and rentals tax growth has slowed after strong post-pandemic gains. She described factors affecting the tax, including employment, inflation, fuel and food prices, wages, and weather, and noted that online platforms like Airbnb have improved compliance by collecting and remitting tax on behalf of hosts. Members asked about short-term rental compliance and how DRA identifies unlicensed rentals; Stepp said referrals, anonymous tips, and platform data help enforcement.