Transcript Highlights:

• Also, the easier part, which is, you know, we're domiciled in Delaware LLC.
• Also, the easier part, which is, you know, we're domiciled in Delaware LLC.
• Also, the easier part, which is, you know, we're domiciled in Delaware LLC.
• So, my follow-up was, I know it was a big question, but I recognize the Delaware LLC.
• Is there I recognize the Delaware LLC.

Keywords: 1189, house, all

Summary: The meeting opened with roll call, confirmation of a quorum, and approval of the April 6 and May 4 minutes, with minor corrections noted to the May minutes. The main presentation came from JD of Link Network, introduced by Dan Cohen, who described Link’s work with crypto.com and other market participants on tokenized money market funds and real-time settlement for institutional clients. JD gave a detailed history of his earlier work developing the Arca U.S. Treasury Fund and ArCoin, emphasizing that the project was built within existing SEC and 1940 Act frameworks and was intended to use blockchain technology for a traditional asset rather than create a crypto product. He said the effort involved years of discussions with the SEC, multiple custodians, and partners such as U.S. Bank, T-Zero Securities, and Tassat, and that the model eventually led to Link’s settlement system. He highlighted concerns that shaped the design, including regulatory compliance, privacy for institutional users, and the need to bridge traditional banking hours with 24/7 digital asset markets. The presentation also described Link’s features, including segregated and bankruptcy-remote fund structures, tokenized deposit and treasury fund settlement, and “yield in transit,” which allows interest to accrue and be distributed daily down to a two-second block. JD said the platform is being expanded for use cases such as exchange liquidity, cross-border capital movement, off-exchange collateral, stablecoin bridging, treasury management, and peer-to-peer settlement. He closed by posing policy questions for the commission about the use cases for stablecoins versus tokenized money market funds in New Hampshire and whether the state could issue or administer a security-based program with appropriate compliance controls.

Transcript Highlights:

• Under current law, if a business changes its legal structure from an LLC or bringing in new ownership
• Under current law, if a business changes its legal structure from an LLC or bringing a new ownership,
• Under current law, if a business changes its legal structure from an LLC or bringing a new ownership,
• Under current law, if a business changes its legal structure from an LLC or bringing a new ownership,
• Under current law, if a business changes its legal structure from an LLC or bringing a new ownership,

Keywords: 1187, senate, all

Transcript Highlights:

• it. today, not talking from Parks and Wildlife, but as a neighboring landowner to Red Town Ranch and LLC
• that brings it all the way to the front which Ironically, it's the part that's closest to Redtown, LLC
• Redtown Ranch, LLC, approaches to us with their agent, Don Foster, in February 23 looking to... to reconnect
• Bass, CEM, Pine Bliss, LLC. and Redtown Ranch Holdings LLC, which are the two applicants for the groundwater
• � � � � � � � � � � � � � � � � � � � � � your organization, you're not the only investor in these LLCs

Keywords: 1184, house, all

Transcript Highlights:

• > Wan's Works engineering um Credence Wan's Works engineering um Credence projects<00:55:41.119> LLC
• <00:55:42.119> energy<00:55:42.520> advisers<00:55:43.000> LLC<00:55:43.680>
• life<00:55:43.880> of projects LLC energy advisers LLC life of projects LLC energy advisers
• LLC life of the<00:55:44.160> land<00:55:44.599> offer<00:55:44.960> testimony<

Keywords: 910, house, all

Summary: The committee heard testimony on House Bill 1077, a governor’s administration bill to increase transient accommodations tax revenue and split it between two new special funds: a climate mitigation and resiliency special fund and an economic development and revitalization special fund for tourism/resort areas. Supporters, including the Governor’s Office, recovery and resilience staff, climate and conservation groups, and several state agencies, said the bill would create a dedicated, more reliable funding stream for wildfire mitigation, coastal resilience, land clearing, infrastructure, and community-led projects. Some supporters also urged changes to the bill, including moving the fund to DLNR, adding DHHL and OHA representation, clarifying community grants, and ensuring the fund can support both state-led and community-led resilience work. The Attorney General’s office flagged a drafting issue, noting that the bill references fees deposited into the new fund even though the new chapter does not authorize fee collection, and recommended deleting that language or adding fee authority. The Climate Advisory Team representative also suggested adding DHHL to the decision-making body and requiring at-large members to have climate, resilience, conservation, or infrastructure expertise. The Tax Foundation of Hawaii and the Kohala Coast Resort Association opposed the measure, arguing that the special fund structure does not meet statutory criteria, that the bill functions as a tax increase, and that the transient accommodations tax is not being collected equitably across all lodging types before any increase is imposed. Other opponents, including tourism and lodging interests, warned that hotels and timeshares already bear most of the tax burden and that raising the TAT could hurt an already struggling visitor industry and drive tourists away. Supporters countered that current funding is far short of what is needed and that a dedicated revenue stream is necessary to address climate impacts now. Committee members questioned why the Legislature should cede spending decisions to a separate executive-branch process, and the administration responded that the bill is intended to create a transparent, recurring mechanism for funding priorities that can be adjusted over time. No vote or final action was taken in the portion of the hearing provided.

Transcript Highlights:

• business meaning you're an S corporation that's elected to be taxed as a pass-through business, or an LLC
• the SALT deduction was changed eight years ago—maybe six years ago—how that changed for S corps and LLCs
• a<00:31:50.440> member<00:31:50.760> of<00:31:50.880> an<00:31:51.000> LLC
• could have you know a member of an LLC could have you know a member of an LLC or<00:31:51.720>

Keywords: 1183, house

Summary: The House Tax Committee met for an organizational and orientation session. Members and staff introduced themselves, with several lawmakers noting their districts, business backgrounds, and interest in tax policy. Chair Greg Davids then opened the committee’s first substantive item: a presentation from House Research and House Fiscal staff on how the committee works and on basic tax concepts. House Research staff Sean Williams and Chris Clayman explained their roles in drafting bills and amendments, writing bill summaries, answering legal and policy questions, and modeling tax proposals. They also described the committee’s key documents, including partisan and nonpartisan bill summaries, revenue estimates, fiscal notes, and supporting materials. Their presentation covered core tax concepts such as tax bases, rates, deductions, exemptions, credits, tax revenues, and tax expenditures, emphasizing that tax expenditures function like spending through the tax code and are reviewed by a legislative commission. The staff then reviewed Minnesota’s major taxes, focusing on the individual income tax and business taxation. They explained that Minnesota’s individual income tax starts with federal adjusted gross income, then applies state additions, deductions, subtractions, and credits, and that the state’s income tax brackets and rates are set separately from federal law. They also outlined the difference between corporate franchise taxes for C corporations and individual income tax treatment for pass-through entities, and discussed how the federal SALT cap led Minnesota and other states to adopt pass-through entity taxes so businesses could preserve federal deductibility of state taxes. Members asked questions about a duplicate “marriage penalty” entry on a slide, the purpose of Minnesota’s marriage penalty credit, comparisons with other states, and the timing and effect of the pass-through entity tax; staff answered that the duplicate was a mistake, the credit offsets bracket-related marriage penalties, and the pass-through entity tax was adopted in response to the federal SALT cap.

Transcript Highlights:

• Engineering, Alternate Energy Inc., Independent Energy, Solar Tech Hawaii, Solar Arc, Hi-Power Solar LLC
• Engineering, Alternate Energy Inc., Independent Energy, Solar Tech Hawaii, Solar Arc, Hi-Power Solar LLC
• We have testimony in support from Energy Advisors LLC, Alternate Energy PV Tech, Independent Energy,
• Simone Pietro Enterprises LLC, in support, on Zoom.

Bills: SB3326

Keywords: renewable energy, energy storage, cost reduction, public utilities commission, Hawaii energy policies, 910, house, all

Summary: The joint committees on Energy and Environmental Protection and Labor heard SB 3326, a bill concerning a study of separating transmission from generation in Hawaii’s electric system. Testimony was largely opposed. Life of the Land argued that true separation on an isolated island grid has not been shown to work anywhere and said the bill would waste taxpayer money. Hawaiian Electric and the Public Utilities Commission also opposed the measure, saying Hawaii already uses competitive bidding for new generation, that the bill would add cost, complexity, and reliability risks, and that a new study would duplicate prior work. In response to questions, the PUC explained its existing competitive bidding framework and said it had not seen an island system fully restructure in this way. The chair then amended the bill’s intent to require the PUC to open a proceeding for an independent, comprehensive analysis of the state’s energy pathways, including cost reduction, financial risk, state energy goals, and reliability, rather than narrowly focusing on separation. Both committees voted to pass SB 3326 SD2 with amendments, with the Energy committee adopting the recommendation unanimously and the Labor committee adopting it with one reservation and two no votes. The Energy and Environmental Protection Committee then took up SB 2497 SD2, which would require electric utilities other than cooperatives to provide transparent, publicly accessible customer bill impact analyses and annual reports to the PUC. The Department of Commerce and Consumer Affairs and the PUC offered comments, with the PUC supporting the intent. Life of the Land said the proposed disclosure requirements would be too complex for most ratepayers to use meaningfully, while Hawaiian Electric said the bill could raise costs and slow projects, though it acknowledged some of the language changes and said much of the information is already available through existing planning and regulatory processes. Hawaii Clean Power Alliance and one individual testified in support. No vote was taken on SB 2497 SD2 during the excerpt. The committee also heard SB 3183 SD2, which would bar higher-income taxpayers from claiming the renewable energy technologies income tax credit for certain residential solar systems and would change refundability rules. The Department of Taxation, the Hawaii State Energy Office, and the Tax Foundation offered comments, while the Hawaii Solar Energy Association and numerous companies and individuals opposed the bill. Opponents raised concerns about impacts on financing models and the solar market. Members asked the Department of Taxation for data on how credits are claimed by homeowners versus third-party owners and on the refundability of the credit; the department said it did not have the information immediately available but would follow up. The chair indicated decision-making would likely be deferred to allow further review, and no vote was taken in the excerpt.

Transcript Highlights:

• Uh, next up, Larry Jeffs, Larry Jeff Farm LLC, in support; Rodney and Carol Haraguchi, in support; Jerry
• /c> Uh next up Larry Jeffs uh Larry Jeff Uh next up Larry Jeffs uh Larry Jeff Farm<00:02:26.840> LLC
• c> support<00:02:28.200> Rodney<00:02:28.560> and<00:02:28.680> Carol Farm LLC
• in support Rodney and Carol Farm LLC in support Rodney and Carol Haraguchi<00:02:30.120> in<00

Keywords: 912, senate, all

Summary: The committee heard multiple governor’s messages for confirmation to the Agribusiness Development Corporation board and one appointment to the Aloha Stadium Authority. For GM 606, David Ige Hinazumi was supported by ADC and DBEDT, with testimony highlighting his private-sector experience, technology background, and ability to help with risk management and finances. He told senators he had attended board meetings since 2018, saw ADC as a state business arm for agriculture, and supported expanding land, facilities, and even aquaculture if resources allowed. Senators asked about ADC’s role relative to the Department of Agriculture, and he said the department’s strength is research/regulatory work while ADC should focus on business development, support, and facilities for farmers and aquaculture businesses. For GM 607, Jason Watts was strongly supported by ADC leadership, DBEDT, and many agricultural and community groups, with one opposing testimony from Hawaii Farm Bureau. Supporters praised his governance, accountability, transparency, and frequent communication with the agency. In questioning, Watts said ADC’s top priority should be increasing land holdings, and he discussed ADC’s role in water systems, including preserving agricultural water sources and inventorying systems statewide. He also said ADC could potentially help small farmers comply with environmental permitting through a broader, regional approach if authorized by the Legislature. The committee also heard from Joshua Uyehara for GM 682, who was supported by ADC, county officials, and farm groups. He said his priorities would be accelerating ADC projects, expanding capacity, and possibly using ADC as a center of expertise for water systems and for helping farmers with environmental requirements; he also said biofuel crops and food production can be complementary, though food should be prioritized when water is constrained. The committee then considered GM 513, Tracy Lester Smith’s appointment to the Aloha Stadium Authority. The stadium authority and DBEDT supported her, citing her experience in NASCAR, boxing, and Bellator MMA as useful for marketing, attracting events, and commercializing the stadium. Smith said she was eager to serve and would bring experience from both the landlord and tenant perspectives, helping the board think about venue operations, sponsorships, and event attraction. Senators asked about improving public perception and execution, and she emphasized accountability, timelines, and building a venue that can draw major sports and entertainment events. No votes or final actions were taken in the portion of the hearing provided.

Transcript Highlights:

• Debbie Bon Court, testifying for EGF LLC, in opposition. Marcy Ctis Tes, F Resorts, in opposition.
• Court testify opposition de Debbie Bon Court testify for<00:14:44.680> EGF<00:14:45.240> LLC
• <00:14:45.759> in<00:14:45.920> opposition<00:14:46.880> Marcy for EGF LLC in
• opposition Marcy for EGF LLC in opposition Marcy ctis<00:14:48.920> Tes<00:14:49.360> F

Keywords: 912, senate, all

Summary: The Senate Committee on Economic Development and Tourism and on Water and Land heard testimony on HB 504, a measure relating to environmental stewardship and funding for natural resource protection and restoration. Supporters included multiple state agencies and advocacy groups, such as DLNR, HTA, Hawaiʻi Ocean Legislative Task Force, Resources Legacy Fund, the Hawaiʻi Climate Action Coalition, and others, who said the bill would create dedicated funding for environmental, climate, and cultural resource needs and help address wildfire, flood, coastal storm, and tourism-related impacts. Several witnesses emphasized that Hawaiʻi’s environmental funding gap is large and that visitor contributions should be directed to stewardship and restoration. Some supporters also urged that the measure be applied equitably across all visitor accommodations and related uses, including cruise ship cabins and state rooms, while a few suggested amendments to broaden coverage or create a working group for implementation. Opposition and concerns focused largely on the bill’s tax structure and legal/administrative issues. The Department of Budget and Finance and the Tax Foundation questioned the reimbursable general obligation bond special fund in part two, suggesting it be converted to a regular special fund or deleted. The Attorney General’s office said part two may violate the single-subject rule in the state constitution and recommended deleting it. The Department of Taxation said the proposed points-and-miles language would be difficult to audit and enforce, and Expedia and others said the proposed tax treatment of loyalty points and certain payment forms would be operationally difficult. Industry witnesses also warned the bill could raise costs in a high-tax destination and asked for more marketing support if the tax is increased. The committee also heard concerns that a new tax on cruise ship cabins could raise federal preemption issues. The chair noted the testimony count as 23 in support, 179 in opposition, and one with comments. No vote was taken in the portion provided, and the hearing ended with questions from senators and agency responses about possible amendments, enforcement, and constitutional concerns.

Transcript Highlights:

• Amy Kelly, Bri Brain Matters LLC, testified in support. Zack Hardy, Michael J.
• Amy Kelly, Bri Brain Matters LLC<00:38:53.359> in<00:38:53.599> support.
• LLC in support. Zack Hardy, Michael J. LLC in support. Zack Hardy, Michael J.

Keywords: 912, senate, all

Summary: The committee opened its Health and Human Services calendar, noted quorum, and first took up HB 194. The chair explained amendments to add an exemption for a person invited by a patient to attend a birth outside an accredited birth facility when no compensation is involved, remove a date reference in section 9, and accept Department of Health amendments. Members raised no objections, and the committee voted to pass HB 194 with amendments. The committee then heard HB 139 on insurance, with the Attorney General flagging possible unlawful delegation issues and suggesting clarifying language, while the Insurance Division stood on written testimony. A number of health organizations and advocates, including HMSA, Hawaii Association of Health Plans, oncology and fertility groups, testified in support. HB 613 on homeless youth drew broad support from state agencies, counties, youth advocates, and community groups; testimony emphasized the need for permanent safe spaces and more attention to unaccompanied minors, with one witness asking for clarity on funding and shelter capacity. HB 71 on a tax credit for family caregivers drew support from AARP, Alzheimer’s and children’s advocates, and several individuals, while the Tax Foundation raised concerns about blank provisions and the cost-effectiveness of administering a small credit. The Department of Taxation said a prior version with a $5,000 nonrefundable credit would have cost the general fund about $397.4 million. HB 716 on health care technology support received strong support from SHPDA, OHIN, and many provider groups, who described it as a one-time investment of roughly $20–25 million to connect rural and neighbor island providers to electronic health records; members questioned how the grant program would be allocated. HB 799 on physician hospital privileges also drew mixed testimony: supporters said it would align Hawaii with updated CMS rules and improve access, especially on Maui, while Maui Health and some members worried it could reduce on-call coverage and hospital safety, leading to discussion of a possible report and sunset date.

Transcript Highlights:

• He's also the owner and The operator of Heritage Fire Consultants LLC and serves as an adjunct instructor

Bills: HB1170

Keywords: fiduciary responsibility, proxy voting, public finance, Oklahoma statutes, pension plans, pecuniary factors, nonpecuniary factors, financial risk, Attorney General, 914, all

Transcript Highlights:

• Barney Bishop, Florida Risk Institute LLC, a proponent of the bill wishing to speak.

Transcript Highlights:

• in support from the DBEDT Director, James Tokioka, as well as support from Mike Ozua and of Ianaka LLC

Keywords: 912, senate, all

Summary: The Committee on Water and Land heard GM 735, a nomination for consideration and confirmation to the Hawaii Community Development Authority (HCDA) of Michael Chia for a term ending June 30, 2029. HCDA Executive Director Craig Nakamoto testified in support, saying Chia had served on the board over the past year and brought experience in financial planning, client advising, and a willingness to serve the community. The committee also noted written testimony in support from DBEDT Director James Tokioka, Mike Ozua, and Ianaka LLC. Members discussed Chia’s role as the Kakaako business representative on the HCDA board and noted that his business is located in the Kakaako Community Development District. The chair praised HCDA’s work and said the agency’s responsibilities appear to be expanding beyond Oahu to the neighbor islands, including Maui. Chia thanked the committee and said he looked forward to the next four years. The chair recommended advise and consent on GM 735. There was no discussion against the motion, and the recommendation was adopted by vote, with the chair and vice chair voting aye; Senator Chang voted aye; Senator McKelby and Senator Dort were excused. The committee then concluded its agenda.

Transcript Highlights:

• that don't know what a 1099 is, and those folks are those who profit off of investments and their LLCs
• That's because I have an LLC. It's not because of my W-2 that I get to do that.

Bills: HB3418, HB3985, HB3463, HB3002, HB4303, HB3919, HB3416, HB3417, HB3415, HB2206, HB3414, HB3265, HB3310, HB3413, HB4486, HB1219, SR39, SB1177, HB3298, HB2696, HB3941, HB3970, HB3264, HB3321, HB2650, HB3497, HB3980, HB3981, HB4421, HB3177, HB3322, HB3499, HB3500, HB3845, HB3742, HB3622, HB1250, HB2710, HB3831, HB4408, HB1002, HB3008, HB3086, HB3595, HB3678, HB4107, HB3695, HB3315, HB3590, HB3006, HB3151, HB2959, HB2398, HB3026, HB3467, HB4268, HB3372, HB2210, HB4359, HB4427

Keywords: public works, bidding procedures, construction contracts, transparency, public trust, electronic bidding, school districts, property rights, public nuisance, compensation claims, government enforcement, Oklahoma Safe Neighborhoods Act, municipal audit, state auditor, local government, financial transparency, gasoline tax allocations, counties, county officers, education

Transcript Highlights:

• So, during the most recent special session, you, the legislature, directed LLC staff to conduct a full
• You also directed LLC staff to conduct a full program evaluation administered by July 2026.

Keywords: 996, all

Transcript Highlights:

• You're here on behalf of Thigby LLC and yourself, and you are neutral on the bill. Is that correct?
• Um, as the, as the chair said, Mike Brassa and Digby LLC, we work with thousands of electricity customers

Transcript Highlights:

• The LLC has $30 million; you know, $10 million per year equals $30 million.
• And again, this was in both the LLC and the executive recommendations and is supportive of the agency's

Transcript Highlights:

• It's harder to unravel where the issues are if they've done something as simple as put LLC do versus
• LLC.
• something as simple as put LLC something as simple as put LLC do<00:36:07.680> versus<00:
• 36:08.160> LLC.
• And it has to everything do versus LLC.

Keywords: 916, all

Transcript Highlights:

• I represent Pop Hutchison and Ryan LLC. I'm here strongly in favor of this bill, Mr. Chairman.
• I'm with the law firm of Pop Hutchison and with Ryan LLC.
• I'm with the law firm of Pop Hutchison and with Ryan LLC.

Bills: SB467, SB325, SB867, SB994, SB1052, SB1237, SB1449, SB1531, SB2063, SB2172, SB2173, SB2520, SB2529, SB2538, SB2541, SJR46, SJR84

Keywords: SB 467, Texas property tax, ad valorem tax, homestead exemption, residence homestead, fire damage, house fire, destroyed home, temporary tax relief, appraisal district, chief appraiser, local taxing unit, tax rollback, tax refund, Tax Code Chapter 11, prorated exemption, homestead improvement, disaster relief, property tax exemption, residential property

Summary: The committee heard several local government and property tax bills, with most testimony focused on appraisal disputes, tax administration, and development rules. Senate Bill 1052 by Senator Hinojosa would address coastal county appraisal litigation by requiring property owners in certain large-value disputes to report an uncontested taxable value while appeals are pending, so taxing units can base truth-in-taxation calculations on more realistic revenue. Nueces County, Del Mar College, and Corpus Christi ISD testified in support, describing major budget shortfalls caused by refinery valuation disputes; the committee substitute narrowed and clarified the bill’s scope. No opposition was heard, public testimony closed, and SB 1052 was left pending. The committee also heard Senate Bill 1531, which would require local tax collectors to accept common electronic property tax payments such as credit cards, debit cards, and e-checks. Witnesses supported modernizing payment options and the committee substitute removed ACH/electronic funds transfer language to avoid bank-account disclosure concerns. Public testimony closed and the bill was left pending. Senate Bill 325, by Senator Perry, would restore platting and groundwater-certification requirements that were unintentionally weakened by prior legislation; supporters from county government, water groups, and builders’ representatives debated whether the real issue was groundwater protection or road standards for private roads. The bill was left pending after extensive testimony and no vote. The committee then took up Senate Bill 994 and SJR 46, which would exempt certain livestock feed inventory from property tax and provide the constitutional amendment needed for that change. Feed store and Farm Bureau witnesses supported the measure as relief for seasonal inventory taxes, and the bills were left pending. Senator Paxton presented SB 467 and SJR 84 to create a temporary property tax exemption for homes completely destroyed by fire, with refunds or corrected bills based on the date of loss; both were left pending. SB 1237 would clarify charitable property tax exemptions for senior housing and retirement communities, with testimony from Catholic and Baptist retirement organizations and a resident describing rising costs and exemption revocations; it was also left pending. The committee later voted 6-0 to report SB 2073, a pending bill on appraisal district authority to purchase or finance real property, and recommended it for the local and uncontested calendar. Finally, the committee heard SB 2172, SB 2173, and SB 2063, all related to property tax administration. SB 2172 would limit when appraisal districts can require homeowners to reapply for homestead exemptions, requiring a specific reason and written notice; SB 2173 would protect new homeowners from surprise tax liabilities caused by prior owners’ erroneous homestead exemptions, with testimony describing large back-assessment bills; both were left pending. SB 2063 would bar appraisal districts from using market-value evidence in unequal appraisal protests, and testimony sharply divided between taxpayer advocates, who said market data improperly overwhelms equity claims, and appraisal district representatives, who argued market value is inherently tied to equal-and-uniform taxation and cited a recent Texas Supreme Court decision; the bill was left pending after testimony.

Transcript Highlights:

• , pretty often, in fact at least every week, our office gets complaints about a company that has an LLC
• <02:46:54.960> that's<02:46:55.439> based They get online and form an LLC that's, you
• know, a Wyoming LLC.
• they<02:47:31.040> hold<02:47:31.120> a<02:47:31.279> Wyoming<02:47:31.760> LLC
• 02:47:32.720> and<02:47:32.960> they<02:47:33.200> believe they hold a Wyoming LLC

Keywords: 916, all

Transcript Highlights:

• dairy Imagine a mom and pop on their dairy farm, their family dairy farm that's organized as an LLC
• Chairman, I talk to business people all the time, small business people, LLCs all the time, who are a
• Chairman, I talk to business people all the time, small business people, LLCs all the time, who are a
• And so... the statute to protect for example LLC the statute to protect for example LLC data<02:18:04.080
• The other issue is that would really only fix maybe this kind of individual versus LLC issue.

Keywords: 1187, senate, all