Transcript Highlights:

• </c> the burden of they would have to cover the burden of they would have to cover clear<00:44:44.800
• all of the pieces that really covering all of the pieces that really need<01:22:46.840><c> to</c><01
• </c> comment on that um if you want to cover comment on that um if you want to cover you<01:25:39.600
• ><c> know</c><01:25:39.960><c> cover</c><01:25:40.199><c> up</c><01:25:40.360><c> my</c><01:25:40.480
• So, on page two, um, school when I... it says there any school or entity that directly or indirectly

Keywords: 1191, senate, all

Transcript Highlights:

• almost everything it doesn't covers almost everything it doesn't cover<02:13:08.400><c> um</c><02:13
• </c><04:10:19.600><c> under</c> and so I think that's covered under and so I think that's covered under
• </c> many hours of the school day are covered many hours of the school day are covered by<04:10:33.880
• <04:13:42.000><c> includ</c><04:13:42.640><c> entities</c><04:13:43.199><c> including</c> entities includ
• entities including entities includ entities including schools<04:13:43.960><c> camps</c><04:13:44.199

Keywords: 928, house, all

Summary: The committee opened with the Pledge of Allegiance and noted weather-related absences and a large number of new bills. The chair said a subcommittee would be formed to review three cell phone bills, and a full committee work session on bullying would be scheduled for the week after next. The committee then began a hearing on House Bill 121, which would create local special education advisory councils in school districts. Representative Glenn Cordelli, the sponsor, said the councils would be parent-driven, with parents of children with disabilities advising districts on education, safety, program development, evaluation, planning, policies, and communication with administrators. He said the bill would require at least quarterly meetings with district administration, an annual parent workshop, and a year-end report to the school board. He also cited federal guidance from the U.S. Department of Education on parent advisory councils and said the goal was to improve collaboration between parents and schools. Members raised questions about the use of “shall,” how councils would be formed in districts without PTAs/PTOs, whether the councils could function in very small districts, privacy concerns about parents disclosing their children’s disabilities, whether the councils should include guardians or educational professionals, and whether the councils would have any direct tie to the state advisory council. The sponsor said the requirement was intended to make the councils mandatory, that local districts could organize them organically if needed, that participation would be voluntary, that parents would not be required to disclose private information, and that the councils would remain advisory rather than determinative. He also said costs should be minimal. Testimony then began from Nicole Sheath, a pediatric occupational therapist and parent of four children with disabilities, who described her experience balancing advocacy, school collaboration, and the demands of her children’s therapies and education.

Transcript Highlights:

• Um and when you are in fact covered.
• the cost of air emissions cover the cost of air emissions permitting<01:08:39.440><c> and</c><01:08:
• And then wholesalers, beer wholesalers, liquor wholesalers, and other entities got into this business
• and other entities got into this<01:25:45.440><c> um</c><01:25:46.159><c> business</c><01:25:46.800>
• </c><01:34:09.840><c> to</c> it at 65% but we allow other entities to it at 65% but we allow other entities

Bills: HF2300, HF2432, HF2445, HF2443, HF2439, HF3023, HF1615, HF2563

Keywords: HF2432, judiciary finance bill, public safety finance bill, corrections policy, crime victims, victim services, Minnesota victims of crime account, court fees, marriage license fee, financial crimes, fraud investigations, insurance fraud, Bureau of Criminal Apprehension, BCA, Commerce Fraud Bureau, wage theft, automobile theft prevention, nonprofit security grants, 911 funding, POST Board

Transcript Highlights:

• Currently Texas law provides motor fuel tax exemptions for various governmental and non-profit entities
• That scenario would have been covered by this bill and would have allowed tax.
• In fact, because of the sheer number of taxing entities, destiny.
• I represent both public and private sector entities.
• Local entities? Yes, ma'am. General police and fire. Thanks. And so they have this rebate.

Bills: HB134, HB135, HB 1109, HB 1243, HB1392, HB1399, HJR99, HB134, HB135

Keywords: sales tax, use tax, local tax, municipal tax, county tax, tax sourcing, place of business, principal business location, small business, retailer, marketplace seller, economic development agreement, Chapter 321, Chapter 323, Tax Code, Texas Comptroller, local sales and use tax, tax jurisdiction, order consummation, ship-to location

Transcript Highlights:

• Um, and that's what's covered under um that part of chapter 712.
• Um, and that's what's covered under um that part of chapter 712.
• </c><00:44:03.000><c> need</c> Doctors, banks, and other entities need Doctors, banks, and other entities
• </c> is covered as a sex offense or covered is covered as a sex offense or covered offense<00:56:25.800
• </c><01:19:57.760><c> offender</c> related to covered offender related to covered offender registration

Keywords: 910, house, all

Summary: The committee heard testimony on HB 963, which would make crimes against elders age 60 and over strict liability offenses by removing the requirement that the perpetrator knew or should have known the victim’s age. The Office of the Public Defender opposed the bill, arguing that removing the state-of-mind element would create unfair and subjective results and suggesting sentencing enhancements or broader vulnerability-based language instead. Supporters, including Sandy Wong and another testifier with elder-abuse experience, said the current knowledge requirement creates a loophole that lets offenders avoid the elder enhancement even when they target vulnerable older adults. No vote was taken on the measure in the portion provided. The committee also heard HB 384, which increases penalties for promoting minor-produced sexual images, extends probation terms for felony obscenity offenses, tolls the statute of limitations during a victim’s minority, and requires sex offender registration for certain felony obscenity offenses involving minors. The Public Defender opposed the bill as overly broad and warned of absurd results, while the Department of the Prosecuting Attorney supported it, saying the bill addresses sextortion and other exploitation cases where adults solicit images from minors and that the 3-year age-gap threshold preserves ordinary teen relationships. Committee members questioned whether the bill was aimed at adults only and whether the age-gap carveout was narrow enough; the prosecutor said it was intended to cover adult predators and not consensual peer conduct. No final action was reported. HB 1100, which renames the Neighbor Islands Blind and Visually Impaired Service Pilot Program to use “low vision” instead of “visually impaired,” was supported by the Department of Human Services and disability advocates, who said the current term is derogatory and that the change responds to the blind community. The department said it was beginning work on administrative rules and expected to seek an appropriation, with implementation hoped for in 2026. The committee then heard HB 1283, exempting paternity proceedings from mediation when domestic abuse is alleged; the Hawaii State Coalition Against Domestic Violence and others supported it as consistent with divorce law and important for survivor safety. HB 689, creating safe harbor protections for survivors of sexual exploitation who seek medical or law enforcement help, drew support from HPD, Emua Alliance, the Judiciary, and others, who said it would prevent traffickers from using prostitution charges to silence victims. Finally, HB 383, reinstating mandatory minimum jail terms for successive violations of protective orders and removing the court’s ability to suspend those minimums, drew opposition from the Public Defender, who said some repeat violations stem from mental health or substance use issues, and support from the Prosecuting Attorney, who argued the bill treats protective orders like temporary restraining orders and preserves judicial discretion within a misdemeanor framework.

Transcript Highlights:

• And can they cover those positions? And what are those positions going to do.
• So the larger schools are covered.
• necessary protective cover to cover the communication aspect of that.
• So when we engage that insurance, cybersecurity insurance cover gets lower.
• Which we've covered the last two years.

Keywords: 996, all

Transcript Highlights:

• Covers cases committed in the presence of a minor.
• It's basically any injury that would cover, and it is subjective, 10% of the body.
• A follow-up, Senator, other types of injuries, though, right, that aren't currently covered.
• Centered on page three, right there in the middle, number 3, it says each agency, company, person, or entity

Bills: SB1192, SB1264, SB1284, SB1810, SB1921

Keywords: substance abuse, counseling, assessment fees, mental health, alcohol and drug programs, domestic violence, domestic abuse, assault and battery, assault, battery, strangulation, dangerous weapon, family or household member, intimate partner, pregnant woman, great bodily injury, batterers intervention program, batterers' intervention, anger management, victim safety

Transcript Highlights:

• Our jurisdiction covers the Department of Health.
• Thromboembolism registry by July. 1st of 2026, the department has identified a qualified private entity
• Some are under cover.
• the door has to be open during business hours, additional things about the about how much surface cover

Transcript Highlights:

• </c> bit easier so there are three entities bit easier so there are three entities who<00:43:43.559><
• What would heritable conditions that would cover something like TX?
• What would heritable conditions that would cover something like TX?
• They use a covered-life methodology.
• How many schools did that cover, and do you know?

Keywords: 928, house, all

Summary: The Finance Division III work session focused on the Department of Health and Human Services’ Division of Public Health Services budget. Department staff said Public Health has a relatively small budget compared with other DHHS divisions, is supported mostly by federal and other non-General funds, and contains nearly 100 accounting units and more than 50 federal grants. They emphasized that the governor’s budget did not include significant cuts, but that federal funding uncertainty and the winding down of pandemic-era resources were major factors affecting the division. The division also explained that some apparent budget growth reflects reorganizations, including moving the Bureau of Emergency Preparedness, Response, and Recovery and some programs from other DHHS divisions into Public Health. The presentation described Public Health’s mission as serving the entire state through food and water safety, disease surveillance, emergency response, maternal and child health, chronic disease prevention, WIC, community health center support, and public health data collection. Members asked about bird flu, and staff explained that human-health response would involve Public Health’s lab, infectious disease, and emergency preparedness units, while animal-health issues are handled with the Department of Agriculture; they also noted ongoing milk testing requested by FDA and USDA. The division said its organizational structure includes bureaus for Family Health and Nutrition, Infectious Disease Control, Public Health Protection, Emergency Preparedness, Prevention and Wellness, Statistics and Informatics, and Public Health Laboratories, with about a 15% vacancy rate. Committee members questioned whether the division’s budget and staffing had really grown since pre-COVID, and staff responded that full-time authorized staffing is about the same as in 2018, with the increase largely due to federal pandemic funding that has since receded and to program transfers between divisions. They said Public Health’s General Fund share is about $24 million out of roughly $1.1 billion in DHHS General Fund spending, or about 2.2% of the department total. Members also asked about the 3,000-position cap and unfunded positions; staff explained that the cap remains in chapter law through June 30, 2025, that 394 positions were unfunded in the governor’s budget, and that the division expects flexibility to move money from personnel lines and fill unfunded positions to manage changing needs. No votes or formal actions were taken in this portion of the work session.

Transcript Highlights:

• And whereas leading governmental and policy entities, including the National Academy of Medicine, National
• outlay budget and capital outlay program for state government, state institutions, and other public entities
• outlay budget and capital outlay program for state government, state institutions, and other public entities
• chief and police department, and authorizes the village to contract with certain law enforcement entities
• 846 by Representative Baham, display emitter vehicle license plates; prohibit the application of coverings

Bills: HR39, HR40, HR41, HCR19, HCR20, HCR21, HB2, HB3, HB15, HB441, HB976, HB977, HB978, HB979, HB980, HB981, HB982, HR19, HR20, HR21, HR22, HR23, HR24, HR25, HR26, HR27, HR28, HR29, HR30, HR31, HR32, HR33, HR34, HR35, HR36, HR37, HR38, HCR15, HCR16, HCR17, HCR18, SCR10, HB115, HB208, HB465, HB964, HB965, HB966, HB967, HB968, HB969, HB970, HB971, HB972, HB973, HB974, HB975, HB474, HB487, HB503, HB606, HB633, HB707, HB720, HB728, HB733, HB846, HB852, HB856, HB868, HB875, HB78, HB112, HB148, HB149, HB190, HB221, HB346, HB354, HB355, HB356, HB358, HB384, HB427, HB657, HB675, HB716, HB207, HB300, HB331, HB428, HB464, HB587, HB618, HB629, HB801, HB853, HB891, HB901

Keywords: St. Joseph's Day, Saint Joseph's Day, St. Joseph's Altar, Italian American, Italian heritage, Italian immigrants, Louisiana culture, New Orleans, Sicilian heritage, Catholic, Feast of Saint Joseph, cultural resolution, heritage caucus, legislative caucus, ethnic heritage, jazz history, Italian Louisiana, immigrant contributions, cultural recognition, House Resolution 40

Transcript Highlights:

• Safety, and I know that administratively attached means that that entity above them is just providing
• When we consider the economics of a few big entities that this bill might affect, entities that are frankly
• And the truth is that moving sources are not covered in this bill at all. Only stationary sources.
• So if somebody believes that it is going to cover moving sources, that's just not correct.
• And that is because entities are motivated to do the right things.

Keywords: 996, all

Transcript Highlights:

• For an expunction, whoever gets an expunction, that's what's covered, correct? Correct. Okay.
• In a small town, a person had to pay thousands just to cover all these fees for wiping their records,
• It aims to promote legal consistency and enhanced coordination among law enforcement entities.
• Death investigations by non-law enforcement entities.
• Little, y'all covered it. Nothing else anybody needs to say, y'all covered it very thoroughly.

Bills: HB867, HB1347, HB1801, HB1820, HB2197, HB2617, HB3110, HB3166, HB3330, HB4237, HB4342, HB4629, HB4933, HJR148

Keywords: criminal case dismissal, attorney discretion, law enforcement misconduct, judicial approval, evidence, judicial consent, transparency, healthcare, Medicare, insurance, elderly, retired, benefits, access, cost, criminal justice, case dismissal, prosecutorial discretion, law enforcement oversight, criminal procedure

Transcript Highlights:

• So the dollar is under attack from also outside entities like I talked about with the BRICS nations.
• Chairman, members, House Bill 2140 allows the state and its governmental entities to use the Arizona
• refinance debt at higher yields, resulting in higher interest rates that lead to more borrowing to cover

Bills: HB2123, HB2140

Keywords: bullion, depository, legal tender, Arizona, finances, precious metals, financial transactions, investment, state treasurer, gold bullion, treasury management, financial regulations, 1182, all

Transcript Highlights:

• </c><00:46:38.960><c> um</c> can provide our commercial entities um can provide our commercial entities
• </c><03:25:33.279><c> them</c> to be efficient I wanted to cover them to be efficient I wanted to cover
• The time and materials cover the run support, as I said, will cover the patches, and usually twice a
• Any other lines that you want to cover in the administration unit?
• </c> that's probably insufficient to cover that's probably insufficient to cover what<03:37:52.720><c

Keywords: 928, house, all

Summary: The meeting began with testimony from Charlotte Harding of the Conservation Land Stewardship Program, who explained that the office protects the state’s interests in conservation lands by monitoring conservation easements and related stewardship obligations. She described the program’s funding sources: a land conservation endowment held at the State Treasury and administered by the Council on Resources and Development, plus transfers from Fish and Game for easements not covered by the endowment. Members discussed how the endowment is funded when new easements are created, the program’s staffing, the loss of a state vehicle, and the need to increase in-state travel so staff can use personal vehicles for field monitoring. Harding said the office has two full-time positions and a seasonal employee, that the work is mostly monitoring rather than hands-on land management, and that enforcement issues are referred to the grantee agencies or, if needed, to the Council on Resources and Development. She also noted that the office works directly with landowners to resolve smaller issues and that stewardship has become a greater focus in the conservation community because ongoing oversight requires funding. Members asked about examples of properties under the program, including LCIP lands such as Musquash Headwaters, Hidden Valley Boy Scout Camp, and Nash Stream, and the committee did not take a motion before moving on. The committee then heard from Paul Breen and Susie Anzelone of the Pease Development Authority regarding the Division of Ports and Harbors operating budget. They explained that the authority provides finance, legal, environmental, and engineering support to the division, which operates New Hampshire’s only deep-water berth at Market Street, as well as facilities in Hampton, Rye, the Portsmouth Fish Pier, and navigational waters in the Piscataqua and Great Bay. They described the authority’s history after the closure of Pease Air Force Base, the transfer of roughly 2,400 acres, and the creation of a self-sustaining enterprise fund tied to airport and port operations. They emphasized that the division does not draw on the general fund because revenues from wharfage, dockage, parking, registration, and mooring fees cover operating costs, with any surplus retained for capital improvements and replacement. Members questioned several budget lines, including a sharp increase in overtime and workers’ compensation. Breen said overtime is driven largely by security needs at the deep-water port and fluctuates with vessel traffic, such as salt shipments, while workers’ comp is a DAS-set cost and not something the division controls. He said the budget is conservative and that if revenues fall short, capital projects would be the first items scaled back. The discussion also covered fee-setting, with Breen saying rates are reviewed against the local market and infrastructure constraints, and that some smaller facility fees had recently been increased after being stagnant for years.

Transcript Highlights:

• And they're within the ages of 18 to 64, they would be covered by the work requirement.
• There was a drafting error in the House bill, which provided liability protection for the entity that
• That is, the law prevents those listed entities from mandating that people must receive an mRNA-based
• It also lists five entities. A public employer for the purposes of collective bargaining.
• It also lists five entities. Only one of which FHP meets the 60% threshold.

Summary: The Senate convened with a quorum, opening with prayer, the Pledge of Allegiance, and several introductions, including recognition of the day’s doctor of the day, an intern, and a resolution honoring the late Bob Graham and firefighter Roger Timmy Miley. The chamber also adopted a resolution designating August 9, 2026, as Bob Graham Day. After routine announcements, the Senate moved to the special order calendar and took up a series of bills, many of them with House companion bills substituted in place of Senate versions. The first major floor action was passage of a tax-related bill conforming Florida’s Internal Revenue Code to federal changes while excluding certain provisions from H.R. 1; it passed 34-0. The Senate then considered CS/SB 1758 on public assistance and Medicaid, which proposed stronger fraud enforcement, a Medicaid work requirement for able-bodied adults, expanded behavioral health services, pharmacy and drug rebate reforms, and SNAP fraud reduction measures. A Berman amendment to require Medicaid expansion before work requirements was rejected, as was an Osgood amendment to add photo-ID protections and exemptions for certain SNAP users. The bill remained on the calendar for third reading after extensive debate and questioning about implementation, exemptions, and potential impacts on beneficiaries. The chamber also passed bills on technology education and AI instruction, a Parkinson’s disease registry and related public records exemption, designation of the SS American Victory as Florida’s official flagship, electronic payments for local governments, repeal of the sunset on gold and silver legal tender, public records exemptions for financial institutions and custodians, a Florida stablecoin pilot program, local government finance transparency, digital voyeurism, and insurance customer representative licensing. Most of these measures were adopted after brief explanation, minor amendments, or substitution of House companions, with votes generally in favor and several passing unanimously or by wide margins. Later, the Senate took up CS/SB 1756 on medical freedom, which would expand parental vaccine information requirements, add a conscience-based exemption, allow behind-the-counter ivermectin access, and repeal the sunset on the mRNA mandate prohibition. The bill’s first amendments clarified anti-kickback rules for vaccine manufacturers and required informational materials to address risks, benefits, safety, and efficacy; the transcript ends during consideration of this bill, before final passage is shown.

Transcript Highlights:

• And they're within the ages of 18 to 64, they would be covered by the work requirement.
• There was a drafting error in the House bill, which provided liability protection for the entity that
• Custodians are entities that would be newly regulated if legislation passed last year recognizing gold
• That is, the law prevents those listed entities from mandating that people must receive an mRNA-based
• It also lists five entities. Only one of which FHP meets the 60% threshold.

Summary: The Senate convened with a quorum, opening prayer, Pledge of Allegiance, and doctor-of-the-day introduction, then moved through a long special-order calendar. Early proceedings included a resolution honoring former Governor and U.S. Senator Bob Graham and a moment of silence for firefighter Roger Timmy Miley. The chamber also heard several member introductions and recognitions before taking up bills. The most substantial debate centered on CS/CS/SB 1758 on public assistance and Medicaid/SNAP reforms. The bill would strengthen fraud enforcement, impose a Medicaid work requirement for able-bodied adults, expand behavioral health services through a waiver, modernize Medicaid pharmacy purchasing, and require a SNAP fraud-reduction plan and photo ID on EBT cards. Senators Berman, Smith, Bracy Davis, Osgood, and others argued for Medicaid expansion and added protections for vulnerable SNAP recipients, while Gates defended the bill as a compliance and cost-saving measure. Multiple amendments were offered, including Berman’s Medicaid-expansion condition and Osgood’s SNAP photo-ID safeguards; both were defeated. The bill was placed on the calendar for third reading after extended questioning. The Senate then passed a series of bills, often substituting House companions before final vote. These included tax conformity legislation (7031/7048), technology and computer science education (1503/1694), Parkinson’s disease registry and related public-records measures (1443/1684), designation of the SS American Victory as the official state flagship (249/1656), electronic payments for local governments (967/1612), legal tender and related public-records exemptions for gold, silver, stablecoins, and virtual currency kiosks (1311/1588/1087/7044/1568), local government finance and spending transparency (1329/1566), digital voyeurism (1536), insurance customer representative licensing (1343/1504), and medical freedom legislation (1756) with amendments on anti-kickback rules and vaccine information materials. Most bills passed on largely party-line or near-unanimous votes, with several amendments adopted and some withdrawn; the medical freedom bill was still under consideration at the end of the excerpt.

Transcript Highlights:

• In other words, the... ...from enhanced federal matching funds, which cover more than half the cost.
• There was a drafting error in the House bill, which provided liability protection for the entity that
• There was a drafting error in the House bill, which provided liability protection for the entity that
• Custodians are entities that would be newly regulated... ...relating to custodians of gold and silver
• It also lists five entities. Only one of which FHP meets the 60% threshold.

Summary: The Senate convened with a quorum, opened with prayer and the Pledge of Allegiance, and recognized several introductions and memorials, including a resolution designating August 9, 2026, as Bob Graham Day and a moment of silence for firefighter Roger Timmy Miley. The chamber then moved through a long special-order calendar, with several bills substituted with House companions and adopted by voice vote or recorded vote. Early measures included a tax conformity bill tied to federal Internal Revenue Code changes, which passed 34-0, and a Medicaid/public assistance bill that drew extensive debate over work requirements, fraud reduction, behavioral health services, and SNAP/EBT reforms. Amendments offered by Senators Berman and Osgood to condition or soften the work and photo-ID provisions were rejected, and the underlying bill was placed on the third-reading calendar after lengthy questioning about implementation, exemptions, and eligibility effects. The Senate also passed bills on computer science education and AI instruction, a Parkinson’s disease registry public-records exemption and registry update, designation of the SS American Victory as Florida’s official state flagship, electronic payments for local governments, repeal of the legal-tender sunset for gold and silver, public-records protections for gold/silver custodians and stablecoin-related entities, a Florida stablecoin pilot program, and local government budget transparency/spending measures. Most of these measures were adopted after minor amendments or technical substitutions, with votes generally ranging from 31-3 to 34-0. The chamber also recognized the Florida Channel’s 30 years of legislative coverage. Later, the Senate approved a digital voyeurism bill expanding the reasonable-expectation-of-privacy definition to include private fenced yards, and an insurance customer representative licensing bill allowing high school students to complete insurance/personal finance coursework and later qualify for licensure. The final major item was a medical freedom bill that would expand parental vaccine information requirements, add a conscience-based exemption to immunization mandates, allow behind-the-counter ivermectin for adults, and repeal the sunset on the mRNA mandate prohibition; two amendments clarifying anti-kickback rules and requiring vaccine information to include risks, benefits, safety, and efficacy were adopted, while questions from Senators Smith and Massullo focused on public-health impacts and the content of the required materials. The transcript ends during discussion of that bill, with no final vote shown in the excerpt.

Transcript Highlights:

• And they're within the ages of 18 to 64, they would be covered by the work requirement.
• There was a drafting error in the House bill, which provided liability protection for the entity that
• The law prevents those listed entities from mandating that people must receive an mRNA-based vaccine
• It also lists five entities. A public employer for the purposes of collective bargaining.
• It also lists five entities. Only one of which FHP meets the 60% threshold.

Keywords: 998, house, all

Transcript Highlights:

• </c> nothing in this bill that isn't covered nothing in this bill that isn't covered today<01:57:56.760
• </c><03:44:30.920><c> use</c> fee schedule that other uh entities use fee schedule that other uh entities
• The reimbursement must be designed to cover their cost.
• </c> we want is our cost to be covered we want is our cost to be covered because<04:21:10.600><c> the
• </c> look like that does cover look like that does cover cost<04:21:39.319><c> um</c> the<04:21:43.640

Keywords: 928, house, all

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.

Transcript Highlights:

• that do this under contract with our highway entities some protection so that they will continue to
• So these entities we're talking about are entities that enjoy immunity under called governmental immunity
• Right, governmental entities. That's correct. OK.
• Um, it's not the type of immunity of the government entity that's, that's contracting for it.
• In the private entity?