Video & Transcript : 'pass/fail' :
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US
US Federal 2025-2026 Regular Session
Hearings to examine certain pending nominations. Apr 29th, 2025 at 08:30 am
Senate Armed Services Subcommittee on Personnel
Transcript Highlights:
- I understand this is a no-fail mission.
- needs, making sure it is properly resourced. people and funding as required to accomplish this no-fail
- and one that was passed and signed in the Trump administration?
- national laboratories to make sure... make sure they are resourced properly to accomplish this no-fail
- Defense is in the process of attempting to pass a reconciliation bill, much of which will deal with the
Keywords:
defense industrial base, small business, workforce development, acquisition processes, national security, cybersecurity, critical minerals
Summary:
The meeting of the committee revolved around critical discussions on enhancing the defense industrial base, focusing on small business engagement and the importance of streamlined processes in defense contracting. There was a significant emphasis on the need for more investment in the defense manufacturing sector, particularly in the face of competition from countries like China. Some members expressed frustration over the treatment of small businesses, citing barriers that prevent these innovative companies from effectively participating in defense contracts. The need for a workforce capable of meeting the common challenges posed by evolving technologies and geopolitical threats was also highlighted throughout the meeting.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Ways and Means Mar 31st, 2026
Joint Committee on Ways and Means
Transcript Highlights:
- We are failing in that Chapter 70 promise.
- We are failing in that Chapter 70 promise.
- This winter, our home heating system failed, and for three months, we lived with no heat for up to a
- We were the first state to pass same-sex marriage and make it legal.
- So if you keep that mindset and we pass it on, then that’s when we got it made. Thank you.
NM
New Mexico 2025 Regular Session
IC - Legislative Health and Human Services Aug 18th, 2025
Legislative Health & Human Services Committee
Transcript Highlights:
- Per the statute that was passed during the last session, the regulations have to be promulgated fully
- It's not something that we've passed in the legislature that the governor signed.
- It was signed; legislation passed by this legislature and signed into law.
- One was the 18-month-old who died on August 2nd after a failed trial home visit.
- Two rushed trial home visits have failed, one ending in the unthinkable.
TX
Transcript Highlights:
- So I urge you to pass SB 1960 and protect Texas music. Thank you; thank you, well done.
- They do pass and be printed.
- There being five ayes and five nays, the motion fails. The chair lays out Senate Bill 1210.
- I thank you for passing that legislation.
- The Chair moves to reconsider the vote by which that bill failed.
Keywords:
digital rights, replication, Voice likeness, visual likeness, private causes of action, fee structure, online service providers, postmortem rights, self-defense, stand your ground, castle doctrine, use of force, deadly force, civil immunity, civil liability, tort claims, attorney fees, court costs, lost income, Chapter 9 Penal Code
NH
New Hampshire 2026 Regular Session
House Criminal Justice and Public Safety (01/14/2026)
Criminal Justice and Public Safety
Transcript Highlights:
- Motion ought to pass. to call the role. Motion ought to pass.
- </c> says and why it was passed. says and why it was passed.
- </c> Motion is to pass. Motion is to pass.
- pass been passed since that uh that is pass been passed since 2014<03:49:45.920><c> um</c><03:49:46.080
- </c> Hampshire, what we pass or don't pass in Hampshire, what we pass or don't pass in New<04:05:37.359
WA
Washington 2025-2026 Regular Session
House State Government & Tribal Relations Feb 24th, 2026 at 01:30 pm
State Government & Tribal Relations
Transcript Highlights:
- No, do not pass. Representative Chase votes nay, do not pass. Doleo?
- No, do not pass. Representative Chase votes nay, do not pass. Doleo?
- I want to go back to Substitute Senate Bill 6034, which we passed, and clarify that it has been passed
- I would like to be nay, do not pass. Representative Doglio votes nay, do not pass.
- We cannot fail her memory. I urge you to pass this memorial. Thank you. Thank you.
Keywords:
state nickname, evergreen state, identity, cultural heritage, tourism, state cactus, symbolic designation, ecological significance, state symbols, SB 6044, Diwali, Bandi Chhor Divas, Washington state holidays, RCW 1.16.050, state holiday recognition, religious observance, Hindu holiday, Sikh holiday, cultural recognition, paid holiday
ND
North Dakota 2026 1st Special Session
Joint Appropriations Jan 21st, 2026 at 12:30 pm
Appropriations
Transcript Highlights:
- due pass.
- So it would not pass. Okay. So the motion fails. So we would need another motion. What's up?
- motion to pass failed.
- To pass failed, so there's nothing to vote no on.
- A motion fails. Mr. Chairman. Representative Cleary? I'd move. Do not pass. Senator Cleary? Okay.
Bills:
HB1623
Keywords:
HB 1623, North Dakota, rural health, rural health transformation program, medical facility infrastructure loan fund, medical facility infrastructure loan program, rural health loan program, Bank of North Dakota, Department of Health and Human Services, HHS, federal grant, health care infrastructure, rural hospitals, critical access hospitals, nonprofit health care providers, gap financing, loan fund, public health funding, healthcare financing, Medicaid
Summary:
The committee first heard House Bill 1624, the “Universal Lunch Bill,” from Rep. Mike Nathie. He argued the proposal should be placed in Century Code rather than the Constitution so future legislatures can adjust it if state finances tighten, and said the bill would start the program a year earlier with a $65 million appropriation for one school year. DPI testified that the estimate did not include nonpublic schools that do not participate, and members questioned the impact on Title I, free-and-reduced applications, private-school accountability, breakfast mandates for schools that do not currently serve breakfast, and whether the funding could come from the DPI budget or other sources. Supporters, including North Dakota United, the North Dakota Catholic Conference, a pediatrician, and the American Heart Association, said universal meals improve student health and learning, reduce family costs, and are better handled in statute than by constitutional amendment. No opposition testimony was offered, and the chair closed the hearing for later work-session action.
The committee then took up House Bill 1627, introduced by Rep. Tye Dressler, which would raise the income threshold for the state-funded school lunch program from 225% to 300% of poverty, with an estimated cost of about $7 million for 2026-27. Dressler said the bill is intended as a targeted, budget-friendly alternative to the ballot measure and emphasized that the state should maximize federal meal dollars while improving participation in the current program. Members questioned whether raising the threshold would actually increase utilization, whether a dollar amount would be clearer than a percentage, and how the change would affect federal reimbursements and application rates. DPI said it could quickly calculate additional percentage levels, and the chair closed the hearing, directing DPI to prepare more numbers for the work session.
Finally, the committee opened Senate Bill 2403, presented by Sen. Schiable, to create a short-term bridge-loan program for financially distressed hospitals, centered on Jacobson Memorial Hospital in Elgin. The bill would authorize up to $5 million per loan, with a $10 million appropriation available on a first-come, first-served basis, and would run only through June 30, 2027. Schiable said the hospital’s debt and operating problems threaten local health care, ambulance service, and the community’s economy, and that the proposal was designed narrowly with Bank of North Dakota review to avoid creating a broad precedent. Committee members asked whether the appropriation could be reduced and whether the bank would still apply commercial feasibility and repayment standards; Schiable said yes, the bank would still evaluate the loan and could reject it if it was not sound.
MO
Transcript Highlights:
- On February 18, it passed Ways and Means 7 to 1. It passed Rules 8 to 1 on March 6.
- On April 3, it passed fiscal review 6 to 2.
- It's a direct pass-through.
- This is a direct pass-through to the customer.
- “Year after year has failed the State of Missouri.
TX
Transcript Highlights:
- There being 31 ayes and zero nays, the bill is finally passed. The bill is finally passed.
- There being 29 ayes and two nays, the bill is finally passed. The bill is finally passed.
- Hearing none, the bill is passed to engrossment.
- The bill is finally passed. Congratulations.
- The bill is passed to engrossment.
Summary:
The Senate opened with a quorum, an invocation, and routine business including dispensing with the previous day’s journal, receiving a House message on HB 104/HJR 34, and a gubernatorial message naming two appointees to the Texas Real Estate Commission. The chamber also adopted several resolutions recognizing Alzheimer’s Advocacy Day, Golf Day in Texas, Cindy Ramos-Davidson, and the 50th anniversary of the Harris-Galveston Subsidence District. Members then adopted memorial resolutions honoring fallen first responders, including Deputy Jesse Ray Perez and Deputy Melissa Pollard, and the Senate agreed to adjourn in their memory.
The Senate considered and passed several bills. SB 2199 increased penalties for loading overweight vehicles transporting hazardous materials; SB 1959 adjusted permit factors for the North Texas Groundwater Conservation District; SB 1376 changed supervision rules for code enforcement officer trainees; SB 2595 created a new offense for harassing, intimidating, or threatening someone while concealing identity with a mask or similar headgear; SB 1012 authorized sale or lease of certain surplus state property in Austin; SB 2245 revised bonded title procedures; SB 2605 created a municipal housing authority asset commission; SB 3044 expanded and adjusted the board of the Presidio County Underground Water Conservation District; SB 628 clarified county fire code enforcement authority through interlocal agreements; SB 2778 raised the spending threshold for emergency services district employees; SB 3039 addressed public higher education transfer issues; and SB 2523 allowed release from municipal extraterritorial jurisdiction by petition. Most of these bills were passed to engrossment, the three-day rule was suspended, and final passage was completed, often by wide margins.
The chamber also took up SB 1844, which would require cities to provide services before expanding taxing areas into limited-purpose jurisdictions; a floor amendment narrowed the bill, and it was passed to engrossment. SB 2284 clarified municipal and county authority over firearms, airguns, archery equipment, and related items, and was passed despite opposition. SB 2529, dealing with the vote threshold for taxing units to adopt higher tax rates or issue tax bonds, prompted extended debate over voter approval and representative decision-making; after questions, the bill was passed to engrossment and held. At the end of the session, the Senate recessed for 20 minutes and announced it would meet as the Caucus of the Whole.
OK
Transcript Highlights:
- Now we have a due pass and Senator Murdock on the amendment. Do we have a due pass on it?
- The amendment is passed.
- Okay, we have a due pass and a second on the amendment.
- That was passed into an 85% rule last year.
- Chairman, I would ask for a due pass and yield for questions. I'll do pass from the chair.
Keywords:
forfeiture, criminal offenses, law enforcement, Class D1 offenses, property seizure, SB1612, mandatory reporting, violent injury reporting, gunshot wound, stab wound, poisoning, burn injury, explosive injury, medical reporting, healthcare providers, law enforcement notification, evidence preservation, patient video records, confidentiality waiver, misdemeanor penalty
Summary:
The Public Safety Committee took up several criminal justice and public safety measures. Senate Bill 1936, as amended, increased penalties for impersonating law enforcement from a misdemeanor to a felony and expanded seizure provisions; amendments added federal law enforcement agents and state troopers to the covered officers, and the bill passed unanimously. Senate Bill 1612, requested by Tulsa police, would require limited reporting and sharing of certain injury-related information and hospital video/photo evidence with law enforcement to aid violent-crime investigations; members raised HIPAA, scope, and criminalization concerns, but the bill passed 5-2. Senate Bill 1543 would aggregate multiple DUI offenses within one year into a single felony case; after questions about sentencing, municipal charges, and deterrence, it passed 6-2. Senate Bill 1260 would require child sex traffickers and human traffickers to serve 100% of their sentences without parole or earned credits, and it passed 6-2.
The committee also considered Senate Bill 1988, which would increase wire-transfer fees on funds sent outside the United States and restore an income-tax credit for Oklahoma filers; members questioned whether it functioned as a tax, its impact on lower-income senders and service members, and its connection to drug trafficking. The bill failed on a 4-4 vote. Senate Bill 1859, creating an OSBI cybercrime and fraud unit with an estimated $3 million fiscal impact, passed unanimously after testimony that cyber and cryptocurrency fraud are growing and often harm elderly victims. Senate Bill 2041 would make a third possession offense for methamphetamine, fentanyl, or cocaine a felony, with supporters saying it would push offenders toward drug court and opponents warning it would increase incarceration; it passed 6-2. Finally, Senate Bill 1257 would classify THC as a Schedule I drug to align with federal law and close trafficking loopholes, and it passed unanimously. Senate Bill 1584 was laid over at the author’s request.
TX
Texas 89th Regular
Homeland Security, Public Safety & Veterans' Affairs Apr 30th, 2025
Homeland Security, Public Safety & Veterans' Affairs
Transcript Highlights:
- I mean, we pass bills through the years that are... ...only affect Harris County.
- Ray was here, and that's the way we passed the bill.
- As I said, we've Passed bills in my 31 years here.
- Time passes.
- Favorably to the full House with a recommendation that it do pass and be printed.
Bills:
HB 1065, HB2929, HB2956, HB3009, HB3420, HB3626, HB3649, HB4956, HB4993, HB5293, HB5308, HB5528, HCR118, SB36, HB4023, SB 36
Keywords:
employee classification, private security, misclassification, workforce regulations, Texas Workforce Commission, autism, peace officers, training program, law enforcement, intervention, communication, developmental disability, family violence, central database, criminal offense, registration, public safety, violent offenses, criminal database, Department of Public Safety
LA
Transcript Highlights:
- to mitigate or failed to fix their roof or failed to put a tarp on it or failed to do any of those things
- The association was very happy with a permit bill that passed.
- Passing out. Wake up 15 minutes later, be fine.
- It has been passed out and published online.
- Seven yeas, nine nays, and the bill fails to pass. Thank you, Representative, for your bill.
Keywords:
home inspectors, board membership, licensing, term limits, Louisiana State Board, utility, reimbursement, overcharges, consumer protection, economic relief, hidden fees, junk fees, drip pricing, price transparency, mandatory fees, surcharges, unfair trade practices, advertising disclosures, total price, service fees
AR
Transcript Highlights:
- We're passing over House Bill 1024, so that one is being passed over again today.
- But this first batch will just be 1006, passing over 1024 down to 1078.
- By vote of 87 yeas, five nays, and four present, you have passed the bill.
- By vote of 71 yeas, 19 nays, and 8 present, the bill has failed.
- By a vote of zero yeas, 85 nays, and four present, the bill has failed. Thank you.
Summary:
The House convened with prayer and the Pledge of Allegiance, established a quorum, and received a Joint Budget Committee report on several bills. The chamber also recognized guests, including state troopers, a doctor of the day, visitors from civic and advocacy groups, and students from the Arkansas School for Math, Science, and the Arts. The House adopted House Resolution 1034, supporting Arkansas poultry producers in the Illinois River watershed and urging good-faith negotiations, by a 97-0 vote. It also adopted House Concurrent Memorial Resolution 1001 honoring Bishop Kenneth Liddell Robinson, Sr., by a 98-0 vote.
The House then considered several amendments to appropriation bills, including changes affecting the Department of Education, public safety, county jail reimbursement language, Agriculture fee waivers, the Drug Task Force, pregnancy help organizations, and tire recycling fees. All of those amendments were adopted without recorded opposition. The chamber then moved through a budget calendar, with leadership explaining that some bills were general appropriations, some were reappropriations for ongoing capital projects, and four were supplemental appropriations.
On final passage, House Bill 1006 passed 87-5; House Bill 1053, the appropriation for the University of Arkansas at Little Rock, failed 71-19; House Bill 1086 passed 96-0; House Bill 1087 passed 81-8; House Bill 1088 passed 97-0; House Bill 1094 passed 96-1; House Bill 1084 passed 96-0; House Bill 1097 passed 75-16; and House Bill 1098 failed 0-85 after Representative Henley spoke against it and said leadership had not responded to questions. The House then adopted a motion to adjourn until 11 a.m. the next day.
CA
California 2025-2026 Regular Session
Assembly Local Government Committee Jun 17th, 2026
Transcript Highlights:
- I respectfully urge the committee to pass SB 1400.
- The bill passes 47-0. The bill passes 47-0. We’ll leave the roll open for others to add on.
- Measure passes 9-0. Thank you, and congratulations.
- The motion is do pass. Carillo? Aye. Carillo, aye. Ta? Aye. Pacheco? Aye. The motion is do pass.
- Thank you. ...passed on to future residents.
Summary:
The Assembly Local Government Committee heard a long agenda of local government, housing, transportation, and public safety bills. Early items included SB 762, which would give certain local governments a voter-approved path to seek additional local sales tax authority to address fiscal pressures; SB 1400, which would modernize Alameda Health System governance and give Alameda County more flexibility and oversight; and SB 1408, which would authorize Contra Costa County to place a renewal of its transportation sales tax on the ballot. Supporters for those bills included local officials, county representatives, labor groups, fire and police organizations, and transit advocates, while no organized opposition was presented on those measures in committee.
The committee also heard SB 1272, which would give homeowners more time to correct certain inherited code violations and allow an affidavit process for buyers who did not know about the violation at purchase. The bill drew support from the California Apartment Association and opposition from code enforcement and county groups, who argued it would reduce local enforcement discretion and create health and safety risks. After questions about disclosure and enforcement, the committee approved SB 1272 as amended and re-referred it to Appropriations. SB 1055, dealing with procurement flexibility for Pajaro flood control and levee repairs, also passed as amended and was sent to Appropriations.
Later, the committee approved SB 1379, which would separate the Riverside County Sheriff-Coroner and create an independent medical examiner system. The author and supporters argued the change was needed for transparency and independence in in-custody death investigations, while opponents raised labor, cost, and governance concerns; some opposition was softened after the author agreed to employee-protection amendments. The committee also passed SB 1172, limiting consultant compensation and adding transparency rules for local tax-sharing agreements, and several housing bills from Senator Grayson: SB 1003 on pro-housing infrastructure financing districts, SB 1014 on early disclosure of infrastructure requirements for housing projects, and SB 1169 on extending tentative vesting map validity. The committee took votes on consent items and later add-ons, with most measures passing on bipartisan or unanimous votes and several being re-referred to Appropriations or Housing and Community Development as appropriate.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Transportation Jun 21st, 2026 at 01:00 pm
Joint Committee on Transportation
Transcript Highlights:
- So that'll pass off to my compatriot here at WAC Massachusetts.
- That's what that will pass off to my compatriot here at WAC Massachusetts.
- , four-foot passing, five-foot passing based on speed.
- It's a lot easier to say four-foot passing for everybody.
- However, it falls short by failing to protect our youngest riders.
Summary:
The Joint Committee on Transportation held a hybrid hearing on the governor’s Ride Safe Act, S. 3077, and related micromobility bills. Chairs and administration officials described the bill as a statewide, speed-based framework for e-bikes, scooters, mopeds, and similar devices, intended to replace outdated device categories with clearer rules for age limits, helmets, equipment, operating locations, registration, insurance for higher-speed devices, and restrictions on tampering. They also emphasized improved crash-data collection, a working group for future updates, and battery safety standards such as UL certification to reduce fire risk. Committee members asked about enforcement, shared-use paths, commuter rail accommodations, battery storage, and how the bill would apply to other vehicles like quads; the administration said some issues would need further study or follow-up.
Testimony from advocates, municipal officials, and commission members was mixed but generally supportive of clearer statewide rules. Transportation and safety advocates backed the speed-based tier system but urged additional measures, including a default speed limit on shared-use paths, automated enforcement, and more funding for Complete Streets and Shared Streets programs. Bike shop and police representatives said current laws are confusing for riders and law enforcement and that better definitions and data reporting are needed. Several speakers stressed that enforcement and education will be critical, and that local patchwork rules are difficult to apply consistently.
Medical testimony strongly supported tighter protections for young riders. Pediatric emergency and trauma doctors described a sharp rise in serious injuries and deaths involving e-bikes and scooters, including severe pediatric cases, and urged amendments adding a minimum age for faster devices and a universal helmet requirement. They argued that the force and weight of these devices make crashes more dangerous than conventional bicycles and pointed to past Massachusetts safety laws as evidence that age and equipment restrictions can reduce injuries.
Some public testimony opposed the bill as written, especially from moped commuters who argued that gas-powered mopeds are being treated differently from comparable electric devices and should be included in the framework. They called for clearer rules on bike-lane access, insurance, parking, and statewide standards for mopeds as vulnerable road users. No votes were taken during the hearing; the committee heard testimony and questions only.
LA
Transcript Highlights:
- And so when we passed this law in 2020, That's my understanding.
- And I have any questions if I ask you favorable passes.
- It's currently being passed out.
- It is available online and is currently being passed out.
- All right, motion passed. Motion passed. Motion to report House Bill 4 favorable as amended.
Keywords:
housing assistance, state-owned property, cost-burdened, state employees, affordable housing, fiscal audit, higher education, public funds, underrepresented minorities, Board of Regents, Louisiana legislation, constitutional convention, Louisiana constitution, electoral process, government structure, delegate elections, airport authority, fire protection, supplemental pay, public safety
MN
Minnesota 2025-2026 Regular Session
Working Group on Omnibus Commerce and Consumer Protection Bill - 05/29/25
Minnesota Senate Floor Meeting
Transcript Highlights:
- And then I will pass the spreadsheet over to Ms. Boyd. Thank you, Madam Chair.
- About $99.8 million in federal pass-through revenue will be recognized in fiscal year 27 and 28 as a
- So the $145 million transfer from the healthcare access fund, combined with the federal pass-through
- </c><00:06:01.199><c> the</c> items. and then uh I will pass the items. and then uh I will pass the spreadsheet
- </c><00:07:53.360><c> through</c> combined with federal pass through combined with federal pass through
TX
Transcript Highlights:
- substituted, Senate Bill 30 be reported favorably to the full Senate with the recommendation that it do pass
- moves, Senate Bill 801 be reported favorably to the full Senate with the recommendation that it do pass
- It hasn't been passed either, so right now the filed bill is still there, but the one you've just been
- I urge you to act in unison and pass this bill. Appreciate it. Thanks, Mr. Harris.
- Senate with the recommendation that it do pass and be printed 2743. Will the clerk call the roll?
Keywords:
election officials, confidentiality, personal information, government transparency, public safety, spirit beverages, alcoholic beverages, Texas Alcoholic Beverage Code, distribution, taxation, firearms, local regulation, archery equipment, weapons, voter registration, statewide list, county requirements, election integrity, computer services contracts, mental health
Summary:
The committee first adopted a committee substitute for Senate Bill 30 and then voted to report the substituted bill favorably to the full Senate; the roll call showed six ayes and one nay, with later unanimous-consent corrections noted for additional aye votes. The committee also reported Senate Bill 801 favorably to the full Senate by an eight-to-one vote. Both bills were left with no further action in the meeting after the votes.
The committee then heard Senate Bill 2595 by Senator Middleton and Senate Bill 2876 by Chairman Hughes, both aimed at addressing masked harassment and riot-related conduct. Supporters said the bills would deter intimidation, protect public order, and respond to recent protests and anti-Semitic incidents, while opponents from civil rights, disability, and advocacy groups argued the measures were overly broad, could chill peaceful protest, and would burden people who wear masks for religious, medical, or disability-related reasons. Public testimony was taken on both bills, and both were left pending after testimony closed.
Senate Bill 2753, by Senator Hall, proposed consolidating early voting and election day into a single continuous in-person voting period with common procedures and equipment, while preserving countywide voting and mail voting. The Secretary of State’s office said the bill could improve ballot secrecy and simplify administration, though witnesses raised concerns about ballot privacy, logistics, and access for disabled voters; some county election officials were neutral or supportive of the concept, while others opposed it as confusing or potentially burdensome. The bill was left pending after extensive testimony.
The committee also heard Senate Bill 2225 on allowing spirit-based ready-to-drink beverages to be sold in grocery and convenience stores, with supporters arguing the law should focus on alcohol content rather than the source of the alcohol and that the bill would modernize an outdated code. Later, Senate Bill 1540, which would add election officials and related workers to confidentiality protections, drew support from county election officials who described threats and harassment, though one witness suggested the bill’s language may need technical adjustment to better match its intent. Finally, Senate Bill 2382, concerning statewide voter registration systems and offline counties, drew opposition from county election administrators and vendors who warned about capacity, cybersecurity, and single-point-of-failure risks, while others suggested a phased approach or API-based integration; the transcript ends with testimony still open on that bill.
US
US Federal 2025-2026 Regular Session
Business meeting to consider an original bill entitled, "GENIUS Act of 2025", and S.875, to curtail the political weaponization of Federal banking agencies by eliminating reputational risk as a component of the supervision of depository institutions. Mar 13th, 2025 at 09:00 am
Banking, Housing, and Urban Affairs Committee
Transcript Highlights:
- But if this bill passes and you're sending a stable coin from your PayPal wallet and you get scammed.
- If a big tech company fails, it could force the largest bailout in U.S. history. history if it threatened
- What I find most interesting is that the previous stablecoin issuers actually failed.
- When the bank failed, we had to step in once again and bail out this entity.
- And again, I'm disappointed that that amendment failed.
Bills:
SB875
Keywords:
banking regulation, federal agencies, reputational risk, financial services, supervision, FIRM Act, bank supervision, depository institutions, federal banking agencies, FDIC, OCC, Federal Reserve, NCUA, CFPB, credit unions, Operation Choke Point, financial discrimination, safety and soundness, supervisory guidance, examination manual
Summary:
This meeting focused on the markup of the Genius Act and the FIRM Act, two significant pieces of legislation addressing stablecoin regulation and the financial industry's regulatory framework. The Chairman noted the importance of providing clarity to the digital asset community and protecting American consumers, while also promoting innovation and competition within the financial sector. Members of both parties expressed varying viewpoints, with some highlighting concerns related to national security and the potential risks associated with stablecoins.
NH
New Hampshire 2025 Regular Session
House Commerce and Consumer Affairs (01/15/2025)
Transcript Highlights:
- No, because at the end of the day, if the product fails or whatever they're doing, the business fails
- </c><00:28:31.000><c> or</c> of the day if the product fails or of the day if the product fails or whatever
- You can all look at it later. pass this out but I just did a like a pass this out but I just did a like
- What happens at present is the $800 is passed along to the consumer.
- </c><04:46:43.638><c> legislation</c> states that have passed legislation states that have passed legislation
Summary:
The House Commerce Committee opened a public hearing on House Bill 310, sponsored by Representative Keith Ammon, which would create a study commission to develop a legal framework for stable tokens and tokenized real-world assets. Ammon described stable tokens as blockchain-based digital tokens backed by U.S. dollars or treasuries, and tokenized real-world assets as representations of ownership in items such as gold, real estate, or artwork. He said the bill is intended to help New Hampshire get ahead of emerging financial markets while waiting to see how federal legislation develops.
Committee members asked about the purpose of the bill, the difference between this proposal and Bitcoin, whether state regulation could be preempted by federal law, and whether the commission could be balanced and avoid becoming a vehicle for fraud or money laundering. Ammon said the proposal is blockchain-agnostic, could apply to multiple networks, and is meant to regulate asset-backed tokens rather than create a state-issued coin. He emphasized that the state would not be guaranteeing the underlying assets, but would set rules requiring audits, proof of reserves, and honest representation of backing, with the Secretary of State’s securities office involved in oversight.
Several members raised concerns about the risks of stablecoins, including money laundering, tax evasion, and possible harm to the dollar or confusion about whether the state was endorsing a new currency. Ammon responded that the bill would not undermine the dollar and argued that tokenization could actually expand demand for U.S. currency by making it easier to use globally. He also said the state would not be in the business of weighing assets or directly valuing them, only ensuring a valid audit trail and one-to-one backing. The discussion ended with general agreement that the subject is complex and that a commission could help develop future legislation, but no vote or final action was taken in the hearing.