Transcript Highlights:

• Right, parents are custodians and have access to that. There can't be a file subpoena.
• opened a criminal investigation into the parent or legal... investigation into the parent or legal custodian
• has with the child who is the subject of an investigation under this act when the parent or legal custodian
• ... when the parent or legal custodian is not present and preserve the records.
• A statement or admission made by the parent or legal custodian to the department or anyone acting on

Bills: HB493

Keywords: child advocacy centers, certification, funding allocation, Alabama Network, forensic evaluation, children's welfare, 1136, house, all

Transcript Highlights:

• Specifically, the bill refines definitions like custodian to focus narrowly on electronic transmission
• Let's take up tab 10, SPB 7044, by Banking and Insurance, related to public records, custodians of gold
• Custodians are entities that would be newly regulated.
• Records relating to custodians of gold and silver.
• Custodians are entities that would be newly regulated.

Summary: The Banking and Insurance Committee took up several bills, beginning with CS/SB 326, which modernizes Florida’s curator statute in probate law by clarifying when curators may be appointed, what they may do, and the oversight required. The bill was reported favorably without opposition. The committee then heard SB 1256 on pharmacy audits, which would require PBM audits of pharmacies to follow uniform standards and provide due process protections; pharmacists testified in support, describing current audits as burdensome and conflicted. That bill was also reported favorably. Members next considered CS/SB 598 on funeral, cemetery, and consumer services. An amendment was adopted removing provisions on civil damage caps and phasing out direct disposers, and the bill was then reported favorably. SB 632, dealing with transportation network company insurance, would set coverage requirements for the period after a ride is accepted but before pickup; an opponent argued the existing insurance framework should not be reduced, but the bill passed on a divided vote and was reported favorably. CS/SB 786 on trusts, creating a nonjudicial process to close uncontested trusts and discharge trustees, was supported by banking and legal groups and reported favorably. The committee then took up CS/SB 1110 on Medicaid, health insurance, and HMO coverage for orthotics and prosthetics. A delete-all amendment clarified eligible recipients, and the bill drew extensive emotional testimony from amputees, parents, and advocates describing the high cost of activity limbs and the benefits for children’s health and participation. Several senators praised the testimony and the policy, and the bill was reported favorably. Finally, SB 1588 on legal tender refined last session’s gold-and-silver law, and SPB 7044 created related public-records exemptions for custodians of gold and silver; both were reported favorably, with SPB 7044 adopted as a committee bill. The meeting ended with senators recording additional affirmative votes on selected bills and adjournment.

Transcript Highlights:

• Specifically, the bill refines definitions like custodian to focus narrowly on electronic transmission
• Let's take up tab 10, SPB 7044 by Banking and Insurance related to public records, custodians of gold
• Custodians are entities that would be newly regulated.
• Records relating to custodians of gold and silver.
• Custodians are entities that would be newly regulated.

Bills: S0326, S0598, S0632, S0786, S1110, S1256, S1380, S1588, S7042, S7044

Keywords: curators, estates, court appointment, fiduciary duty, bond requirements, removal, surrogate, funeral homes, cemetery law, cremation, embalmer, funeral director, preneed contract, preneed funeral, human remains, unclaimed cremated remains, disposition of remains, hospice, palliative care, end-of-life care

Summary: The Banking and Insurance Committee met with a quorum present and temporarily postponed SB 7042 on legal tender and SB 1380 before taking up the remaining agenda. The committee first reported favorably C.S. for SB 326, which modernizes Florida’s curator statute in probate law by clarifying when curators may be appointed, what they may do, and what oversight applies. It then reported favorably SB 1256, which standardizes PBM pharmacy audits by requiring uniform audit standards, scope, frequency, penalties, and due process protections for pharmacies; testimony from pharmacists emphasized concerns about conflicts of interest, excessive audits, and disproportionate penalties, while preserving fraud investigations. The committee also reported favorably C.S. for SB 598 on funeral and cemetery services after adopting an amendment that removed provisions on civil damages caps and phasing out direct disposers; the bill updates licensure and contract rules and addresses unclaimed remains. SB 632, which sets insurance requirements for transportation network companies during the period after a ride is accepted but before pickup, was reported favorably despite opposition from an attorney who argued the existing coverage framework should not be reduced. C.S. for SB 786, creating a nonjudicial process to close out undisputed trusts and discharge trustees, was also reported favorably. The committee then took up SB 1110, a major bill expanding Medicaid and private insurance coverage for medically necessary orthotics and prosthetics, including activity limbs, and requiring annual reporting. After adopting an amendment clarifying eligible recipients, the committee heard extensive emotional testimony from amputees, parents, and advocates describing the medical, developmental, and financial importance of prosthetic coverage, and members spoke in strong support before the bill was reported favorably. Later, the committee considered SB 1588, which implements last session’s legal tender law by refining definitions, narrowing custodian provisions, eliminating unnecessary examination requirements, and repealing the sunset clause; members raised questions about verification and anti-money-laundering concerns, but the bill was reported favorably. Finally, the committee approved SPB 7044 as a committee bill to expand public records exemptions to records relating to newly regulated custodians of gold and silver. The meeting concluded with senators recording additional affirmative votes on selected bills and adjourning.

Transcript Highlights:

• So, as the Association of Counties just said, records custodians are suffering.
• There were almost 50 stakeholders, and that included records custodians, legislators, some of them who
• And we know that both records custodians and records requesters like us are facing.
• so Much care has been put into making sure the proposed task force is balanced between records custodians
• The important thing to me is that we're going to make sure the public and records custodians get a chance

Bills: HB9, HB50

Keywords: Immigrant Safety Act, immigration detention, civil immigration violations, ICE, federal immigration enforcement, sanctuary policy, public bodies, local government, sheriff's department, school district, higher education, deputization, 287(g), 8 U.S.C. 1357(g), 8 C.F.R. 287.7, intergovernmental services agreement, detainer, immigration cooperation, public property, attorney general enforcement

Transcript Highlights:

• Okay, custodian of all board records, process all license applications, set administrative fees.
• So, you know, my thing is, if we consolidate these boards and we have one custodian that oversees all
• of these... ... custodian that oversees all of these boards.
• Because now they can't do their job because they're waiting on, you know, this custodian who says, "Hey
• , I've got too much..." ... custodian who says, "Hey, I've got too much other stuff going on.

Bills: SB174, SB180, HB196, HB25, SB193, HB25

Keywords: business taxes, annual reports, Alabama Tax Tribunal, tax appeals, local government, media monitoring, government contracts, state agencies, local agencies, media regulations, transparency, juvenile detention, county management, legal procedures, juvenile justice, county commission, supervision, administration, emergency services, 911

Transcript Highlights:

• or principal were unable to establish meaningful contact with the student's parent, guardian, or custodian
• There's an addition to the bill right now: students, parents, guardians, and custodians of students who
• that that captures it and gives the clarity of what meaningful contact is with the parents or the custodian
• of what meaningful contact is the clarity of what meaningful contact is with the parents or the custodian
• communication by the school administrator or school designee and the student's parent, garden, or custodian

Keywords: 994, senate, all

Summary: The committee met, established a quorum, and approved the minutes from the prior meeting. It then took up House Bill 5537, a repeal bill that removes several obsolete code sections related to professional development, a behavioral interventionist pilot program, child daycare facility lists, and high school graduation rates, and also adds another outdated section to the repeal list. After adopting the committee amendment, the committee voted to report HB 5537 to the full Senate with a recommendation that it do pass as amended. The committee then spent most of its time on House Bill 4656, which would replace the current truancy status-offense framework with a chronic absenteeism and child-in-need-of-supervision model. Counsel explained that the bill shifts the focus toward earlier, preventative intervention, including wraparound services, student support specialists, and a new definition of chronic absenteeism tied to failed interventions, lack of meaningful contact, grade-level impact, or absences reaching 10% of instructional days. Senators questioned how the new process would work, how it would affect court authority, prosecutors, juvenile drug courts, and whether it would change the role of schools and DHHS. Witnesses from Fayette, Greenbrier, and Taylor counties testified. School attendance and juvenile justice officials generally said the current truancy process and court involvement help secure family participation and services, and they warned that removing the status offense could weaken enforcement and reduce the ability to compel participation in interventions. They described existing diversion programs, improvement periods, and court-supervised services as effective tools, with Greenbrier reporting that most diversions do not result in petitions. The committee ultimately voted to report HB 4656 to the full Senate without recommendation and with a further recommendation that it be re-referred to the Committee on Education. The committee then adjourned.

Transcript Highlights:

• 2123, Bullion Depository Establishment, establishes the Arizona Bullion Depository to serve as the custodian
• attestation, adds that upon initial contact with the child safety worker, a parent, guardian, or custodian
• be provided a signed attestation that the parent, guardian, or custodian understands the rights provided
• A requirement that the parent, guardian, or custodian be provided a signed attestation that the parent
• , guardian, or custodian understands the rights provided under the section.

Keywords: 1182, all

Summary: The committee worked through a very long minority caucus calendar covering a wide range of bills, with many items being described and then either left on consent, pulled from consent, or noted for votes. Topics included bullion and state depository proposals, a produce incentive appropriation, a biennial budget change, veterans services funding, driver licensing and traffic enforcement measures, procurement and public records changes, school board and school facilities rules, SNAP work requirements and verification, child welfare and juvenile justice provisions, housing and homelessness measures, energy and fuel policy, election administration, and several tax, commerce, and licensing bills. Members repeatedly raised concerns about constitutionality, federal preemption, duplication of existing law, and whether some measures were policy priorities that had been vetoed in prior sessions and were returning unchanged. Several bills drew extended debate. Members objected to English-proficiency requirements for commercial drivers and motor carriers, arguing federal law and the supremacy clause would bar them. Earned wage access regulation prompted strong opposition over consumer harm, overdraft cycles, and high effective APRs. School-related bills were criticized for overregulating public schools while not imposing similar requirements on ESA/private-school programs, especially on fingerprint clearance and reporting. SNAP-related bills were also opposed as setting unrealistic mandates and repeating vetoed proposals. Other contested measures included a drag-show criminalization bill, a bill restricting photo enforcement, a bill limiting local regulation of unmanned aircraft, and a bill conforming Arizona tax law to federal changes, which members said would benefit wealthy taxpayers and corporations without a clear funding source. The committee also heard a number of supportive or less controversial measures, including bills on veterans awareness, dementia care telemonitoring, Braille transcription funding, CPA licensure pathways, cash acceptance by retailers, and some child safety and court administration changes. Several bills were pulled from consent for further discussion, while others were noted as having unanimous or near-unanimous votes. The meeting ended with caucus announcements, including an affordability award presentation, an upcoming Latino Caucus discussion on community land trusts, and an invitation to African American Legislative Day activities, followed by adjournment.

Transcript Highlights:

• it employee it could be the custodian it employee it could be the custodian it could be um a maintenance
• cutting grass out on the custodian cutting grass out on the custodian cutting grass out on the school
• it could be say the lunchroom custodian it could be say the lunchroom custodian it could be say the
• cutting whether it be the custodian cutting whether it be the custodian cutting grass whether it be
• that sweep in the it be the custodian that sweep in the it be the custodian that sweep in the Halls

Keywords: 1136, house, all

Transcript Highlights:

• Upon returning home, Jack worked as a custodian for the Boston Public Schools.
• Upon returning home, Jack worked as a custodian for the Boston Public public.
• Upon returning home, Jack worked as a custodian for the Boston Public Schools for almost 40 years.

Keywords: 995, all

Summary: The House opened with routine business, including adoption of an order extending until December 3, 2025, the reporting deadline for the Committee on State Administration and Regulatory Oversight. Members also suspended Joint Rule 12 to allow a petition on legislation expanding access to the Family Self-Sufficiency Program to be sent to the Committee on Housing. In addition, the House accepted a Steering, Policy and Scheduling report placing House Bills 2940 and 4380 on the calendar and ordered both to a third reading. House Bill 2940 concerns police officers and firefighters under Chapter 41, Section 111F, and House Bill 4380 amends the Agawam charter to remove a reference to the Board of Appeals. The House then took up several bills released from the Committee on Bills in Third Reading and passed them to be engrossed: House Bill 2313, relative to the regional commissions on the status of women; House Bill 3911, amending the charter of the town of Millis; House Bill 4276, reauthorizing Swansea to issue additional on-premises alcohol licenses; and House Bill 4287, authorizing West Springfield to grant four additional off-premises alcohol licenses. A bill authorizing the town of Avon to appoint a town clerk was amended by substitution at the request of Representative Walsh and then passed to be engrossed as amended. The House also observed a moment of silent tribute requested by Representative Beal in memory of John Jack Lennahan, a South Boston native and Korean War veteran who worked for Boston Public Schools for nearly 40 years. Finally, the House adopted an order to adjourn to Monday at 11:00 a.m. and then adjourned in informal session.

Transcript Highlights:

• So whether it be the custodians, whether it be your cafeteria workers, I don't know if you remember the
• ,<00:18:24.320> whether<00:18:24.480> it whether it be the custodians, whether it whether
• it be the custodians, whether it be<00:18:24.799> your<00:18:25.120> cafeteria<00:18:25.600
• <00:28:14.240> whoever<00:28:14.559> is<00:28:14.799> charged from the custodians
• whoever is charged from the custodians whoever is charged with<00:28:15.360> this<00:28:15.600

Bills: HB187, HB341, HB4, HB175, HB326

Keywords: HB187, court fees, docket fee, sheriff's fund, sheriff's office, jail operations, law enforcement, county sheriff, court filing fees, Alabama Code 12-19-312, solicitor's fund, clerk's fund, forensic services trust fund, budget flexibility, public safety, municipal court, district court, circuit court, cosmetology, makeup application

Transcript Highlights:

• Chair, members, House Bill 2041 prohibits a parent, guardian, or custodian from being considered as having
• charged with abuse or neglect of a child, based solely on the inability of the parent, guardian, or custodian
• also keeping the existing proposed language under prohibition, stating that a parent, guardian, or custodian
• The parent, guardian, or custodian must provide a signed attestation that they understand the rights
• On initial contact, the bill requires DCS to ask the parent, guardian, or custodian to identify adult

Bills: HB2041, HB2144, HB2239, HB2321, HB2371, HB2594, HB2661, HB2662, HB2793, HB2968, HB2995

Keywords: child neglect, financial resources, behavioral health, Christian Science treatment, parental rights, child support, preborn children, retroactive support, medical expenses, child welfare, child care, grant program, low-income, early learning, infrastructure, economic growth, security freeze, credit reporting, dependent children, parental notification

Summary: The committee first heard HB 2793, which would let cities and towns expedite annexations when 100% of the property owners request it, waive the 30-day waiting period and public hearing in those cases, and allow electronic newspaper notice and a single on-site posting for small single-parcel annexations. Buckeye testified in support, saying the bill would streamline uncontested annexations and reduce delay and cost, while a Tucson-area senator raised concerns that faster annexation can limit public awareness and input. The bill passed 4-3 for a due pass recommendation. HB 2041, which would prohibit a parent, guardian, or custodian from being treated as abusing or neglecting a child solely because poverty prevents them from providing supervision, clothing, food, shelter, or medical care, drew strong support from child welfare and anti-poverty advocates. Opponents argued the bill still leaves room for investigations based on poverty and should more fully remove poverty from the neglect definition. The committee also heard HB 2239, creating a child care grant program and infrastructure fund at DES; witnesses from northern Arizona and child care providers described shortages, workforce challenges, and the need for facilities and support. An amendment adding tax-credit language and opening eligibility to entities seeking to open child care facilities was adopted, and the amended bill passed 6-0 with one not voting. The committee then approved HB 2321, requiring DCS to place a credit freeze on a child’s credit report when the child enters care, by a 7-0 vote. HB 2371, allowing consenting divorcing parties without minor children to use AI-assisted arbitration and adding a separate amendment on therapeutic interventions in parenting cases, prompted questions about whether AI arbitration is currently used and whether the amendment was germane; it passed 4-3. HB 2594, concerning the Address Confidentiality Program in family court and making attempts to obtain protected address information a felony, passed unanimously after testimony from a survivor and advocates. HB 2661, which requires DCS to inform parents under investigation that they may delegate temporary guardianship and seek court relief, passed 4-3 after amendment removed attestation and documentation requirements. Finally, HB 2995, a major domestic-violence custody bill, was heard with extensive testimony from survivors, attorneys, and legal aid advocates. The bill removes the “significant” domestic violence threshold, adds coercive control to the analysis, requires domestic violence to be treated as contrary to the child’s best interests, and mandates detailed court findings; supporters said it addresses cases where abuse was minimized in custody decisions, while members raised concerns about evidentiary standards, implementation, and the risk of false allegations. The committee adopted a 13-page amendment and then gave the amended bill a due pass recommendation by a 4-3 vote.

Transcript Highlights:

• a child that is going to be able to be adjudicated dependent, a broadening of the term of legal custodian
• whether a child is abused, abandoned, or neglected, we must look at whether the parent or legal custodian
• And under chapter 39, specifically 39.01, the definition of legal custodian contemplates that there must
• very vulnerable population do not have a court order, and therefore they do not qualify as a legal custodian
• If they are removed, what is their status at that point, and whether or not that legal custodian was

Summary: The Committee on Children, Families, and Elder Affairs met with a quorum and considered five bills. SB 1174, by Senator Jones, would simplify the process for transferring a family foster home license when a foster parent moves within Florida. A friendly amendment clarified that the transfer applies to the same licensed person, not a different individual, and directs DCF to prioritize amended licenses. The committee adopted the amendment and reported the bill favorably. SB 558, by Chair Grall, created a framework for voluntary post-adoption contact agreements between adoptive and biological parents, including contact with siblings, with court filing and enforcement procedures. A strike-all amendment changed the child’s party status age from 14 to 12, required court filing in the adoption case, set a preponderance standard, and moved the effective date to January 1, 2026. The committee adopted the amendment and reported the bill favorably. SB 1626, also by Chair Grall, was substantially revised by a strike-all addressing unaccompanied alien children reporting and custody procedures, military family child protective investigations, domestic violence shelter certification, children’s services councils, criminal-background exemptions, group home rates, subcontractor indemnification, child care licensing extensions, small residential group home fire suppression rules, and missing-child jurisdiction issues. After testimony both supporting and opposing parts of the bill, the committee adopted the amendment and reported the bill favorably. SB 738, by Senator Burton, updated child care and early learning licensing rules, including expedited licensing for compliant providers, faster background screening and provisional licensure, online training/testing, exemptions for certain military and employer-provided child care, and removal of a residential insurance provision from the bill. The committee adopted the amendment and reported the bill favorably. SB 304, by Senator Sharief, known as Patterson’s Law, addressed child abuse investigations involving rare genetic or metabolic conditions that can mimic abuse. The strike-all required more detailed medical analysis in reports, allowed second opinions, and set procedures for experienced physician review and judicial resolution. After extensive testimony from affected families, advocates, and DCF, the committee adopted the amendment and reported the bill favorably. At the end, Senators Harrell and Rouson asked to be recorded as voting favorably on additional bills, and the committee adjourned.

Transcript Highlights:

• I remember if he were alive, he could come and tell you the head custodian and age.
• I remember if he were alive, he could come and tell you the head custodian that he used to let me in
• There were times that we worked in the building together until it was time for the custodians to go home
• On some occasions, we worked there after custodians had gone home because I had the keys and I could

Keywords: 964, all

Transcript Highlights:

• You give the money to the bank, the bank holds it, they are your custodian.
• <00:36:53.119> It's it, they are your custodian. It's it, they are your custodian.
• So if you can imagine if a custodian needs to speak with a broker-dealer or a broker-dealer needs to
• Private keys is a very big topic about securing assets, and we rely on qualified custodians today.
• They're both very large custodians in the space.

Keywords: 1189, house, all

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

Transcript Highlights:

• An investigation into the parent or legal custodian for a crime where the victim is the child is in the
• Because I know we keep talking about that custodian parent or whoever, but I'm more worried about the
• But the bill also states that if the parent or the custodian is not available, try to preserve the integrity

Bills: HB340

Keywords: child protection, due process, family preservation, child custody, human resources, 1136, house, all

Transcript Highlights:

• of a child that is going to be able to be adjudicated dependent a broadening of the term of legal custodian
• at whether a child is abused, abandoned or neglected, we must look at whether the parent or legal custodian
• very vulnerable population do not have a court order and therefore, they do not qualify as a legal custodian
• And if >> if they are removed, what is their status at that point and whether or not that legal custodian
• The court can them for the first time make a legal custodian, determination of that child, the ability

Keywords: 999, senate, all

Transcript Highlights:

• Custodians like me are the ones who pick up. We manage the maintenance doors.
• I've been a custodian in Adina McVicker.
• <00:43:12.720> Custodians they call the house phone.
• Custodians they call the house phone.
• I just I was listening to the custodian I just I was listening to the custodian speak<01:14:13.840

Keywords: 1187, senate, all

Transcript Highlights:

• The pool can be used as collateral by the custodian of the DTCC.
• <01:15:10.560> of<01:15:10.719> the by the custodian of the by the custodian of the
• Now, this is the very interesting thing: JPMorgan was the custodian for client assets.
• Now, this is the very interesting thing: JPMorgan was the custodian for client assets.
• Now, this is the very interesting thing: JPMorgan was the custodian for client assets.

Keywords: 928, house, all

Summary: The committee first heard testimony on House Bill 167, a PFAS-related measure to add ski, snowboard, and boat wax to the state’s list of banned consumer products containing PFAS. The sponsor said the product is already banned in many other places, alternatives exist, and the concern is that these products go directly into water rather than landfills. She cited high PFAS levels in several New Hampshire lakes and argued the bill would help stop further contamination. A member of the public also described personal experience with ski wax products disappearing from the market, suggesting PFAS may have been the reason. The chair then closed the hearing on HB 167. The committee next opened a hearing on House Bill 312, dealing with college athletes’ name, image, and likeness (NIL) rights. Representative Moffett explained the bill was prompted by the U.S. Supreme Court’s NCAA v. Alston decision and was modeled on New Jersey law. He said the bill would prevent colleges from restricting NIL compensation, require athletes to use licensed attorneys or registered sports agents, and limit certain endorsements involving addictive drugs, adult entertainment, firearms, and weapons. He framed the measure as a proactive response to a changing college sports landscape and noted possible future conflicts involving schools, agents, and endorsements. Committee members raised several concerns and suggested changes. One member questioned the bill’s exclusion of two-year institutions, another objected to the weapons restriction, and others asked how the bill would affect scholarships. The sponsor said the intent was to protect scholarships, especially athletic scholarships, and clarified that need-based scholarships were not meant to be affected. He also acknowledged discomfort with the endorsement restrictions and said the committee might want to broaden or revise the language. The hearing remained open for further consideration, with no vote taken in the excerpt.

Transcript Highlights:

• you have not granted any joint physical custody order that does not designate a primary physical custodian
• So, you haven't designated a primary custodian.
• I guess that would go to, I believe, it would be the primary physical custodian.
• There's been no designation as the primary physical custodian. Sorry, go ahead, Mr. [Last Name].

Bills: SB210, SB225, HB280, HB287, HB94, HB88, SB157, HB7, HB8, HB42

Keywords: hospital liens, medical billing, government healthcare, insurance claims, patient rights, blood tests, DUI, law enforcement, traffic offenses, chemical analysis, public nuisance, event liability, local government, community health, legal action, transparency, reporting, public safety, regulation, accountability

Transcript Highlights:

• And it's unclear how the OCC will treat an issuer holding reserves at a state custodian that's allowed
• , offering private keys or custodian, offering private keys or offering<00:51:07.119> some<00:
• And then lastly is just, you know, partnering with qualified custodians.
• being held with a qualified custodian being held with a qualified custodian ensures<01:28:43.840
• "Yes, we Bitco is the custodian for New Hampshire's Bitcoin-backed municipal bond.

Keywords: 1189, house, all

Summary: The meeting began with roll call and introductions of commission members and guests, followed by approval of the agenda and a motion to approve the February 10 minutes with a correction clarifying that one quoted statement was misattributed. The commission then moved into presentations. The main presentation came from the Conference of State Bank Supervisors on implementation of the federal GENIUS Act for stablecoins. The speaker reviewed the OCC’s recent 367-page proposed rule, noting it raises many open questions and design choices for states, and discussed expected upcoming rulemaking from the FDIC, Federal Reserve, and Treasury. The presentation focused on six areas: permissible issuer activities, reserve assets and redemption, risk management and supervision, treatment of state-qualified issuers, capital/operational backstops, and foreign issuers. It also flagged unresolved issues around Bank Secrecy Act/AML requirements and the meaning of “digital asset service provider” activities. A substantial portion of the discussion addressed yield restrictions, with the presenter explaining the OCC’s broad definition of yield and its rebuttable presumption against issuer-affiliated or related third-party yield arrangements. The speaker said this likely forecloses many existing white-label structures but leaves some room for third-party payments depending on distance from the issuer, and noted ongoing Senate debate over similar provisions. The presentation also covered reserve valuation, liquidity and diversification requirements, redemption timing, and supervisory expectations such as third-party oversight, IT security, exam cycles, and reporting. No additional votes or formal actions were taken beyond approving the amended minutes.