Transcript Highlights:

• made a determination with budgets as a moral document that some people belong on this side of the ledger
• this<00:21:09.360> side<00:21:09.520> of<00:21:09.600> the<00:21:09.760> ledger
• people belong on this side of the ledger people belong on this side of the ledger and<00:21:10.240

Keywords: 919, house, all

Summary: Minnesota lawmakers and advocates held a press event focused on a special-session budget agreement that would repeal health coverage for undocumented immigrants. Speakers, including Rep. María Isa Pérez-Vega, Sen. Lieman, labor leaders, immigrant advocates, faith leaders, and other DFL/POCI caucus members, argued the repeal would harm about 17,000 people, increase uncompensated care costs, worsen ER and clinic wait times, reduce productivity, and ultimately raise costs for taxpayers and employers. They also said undocumented immigrants contribute significant tax revenue and that the measure was motivated by cruelty and scapegoating rather than fiscal responsibility. Testimony emphasized moral, public health, labor, and faith-based objections. Unidos Minnesota, SEIU Local 26, the Minnesota AFL-CIO, and Pastor Ingred Ramson all framed health care as a human right and said the policy would punish working families, immigrants, and communities of color. Several speakers linked the repeal to broader attacks on immigrants, labor rights, and other social protections, and warned that the compromise budget framework included a “poison pill” tying the health bill to the repeal. POCI caucus members said they had tried unsuccessfully to negotiate alternatives, including changes to paid leave, earned sick and safe time, non-compete bans, premiums, enrollment caps, and protections for children, elders, and people with chronic conditions. They said leadership was not part of the negotiations and expressed disappointment with DFL and governor-level decisions, while also saying they would continue to fight the policy and hold leaders accountable. No vote was taken in the event itself, but speakers repeatedly said the repeal was expected to pass and that they would oppose it and continue organizing in future sessions.

Transcript Highlights:

• Ledger Charter School in Lebanon.
• statement and an immutable ledger?
• provide an immutable ledger. provide an immutable ledger. >> Yes<02:55:36.399> sir.
• And they talked about seeing the ledger.
• We're not going about seeing the ledger.

Keywords: 1189, house, all

Transcript Highlights:

• 06.320> coins The OECD calls it a digital representation of physical assets on distributed ledgers
• <00:30:51.120> uh<00:30:51.200> where<00:30:51.440> the distributed ledgers
• uh where the distributed ledgers uh where the issuance<00:30:52.240> of<00:30:52.399> a
• And because all of it is posted to a blockchain, which is an immutable ledger, they are instantaneously
• > um<02:03:06.800> they're<02:03:07.119> issuing the ledger, they're um they're

Keywords: 1189, house, all

Summary: The Stable Token Study Commission held its first regular meeting, welcomed all remaining appointed members, and completed brief introductions from legislators and agency designees. The chair outlined the commission’s plan to use the first part of the enabling legislation as a “level-setting” discussion, focusing this meeting on the basics of blockchain, the current landscape for stablecoins and tokenized real-world assets, and leaving blockchain-based trust for a later meeting. No votes were taken. The main presentation came from Deanna Bario Zales of the Global Blockchain Business Council, who described stablecoins as increasingly converging toward fiat-backed or asset-backed models, with algorithmic designs viewed more cautiously. She said stablecoins are being used for payments, remittances, DeFi activity, cross-border transfers, retail use in high-inflation markets, and treasury functions, while noting risks such as peg instability, reserve transparency, counterparty and network risk, and possible capital flight from weaker banking systems. She cited growth in supply, wallet activity, and transfer volume, and said U.S.-pegged stablecoins dominate the market, with USDT and USDC leading. Zales also discussed tokenized real-world assets, describing them as digital representations of physical assets that can enable fractional ownership, liquidity, and faster settlement. She said the market is growing quickly, with institutional participation from firms such as BlackRock and Franklin Templeton, and projected continued expansion. She closed with an overview of regulatory developments, emphasizing the new U.S. stablecoin framework under the Genius Act, the proposed Clarity Act, OCC guidance, and similar regimes in the EU, UK, UAE, Singapore, Japan, and elsewhere, all of which she said are shaping compliance requirements and market development.

Transcript Highlights:

• want to mention is that there was a notice sent... out by the land grant council, and it was through Ledger
• Yes, I reached out to a staff member for Ledger Fernandez about it.
• Jacobo, you can get with the office of Ledger Fernandez and correct that.
• Senator Lujan introduced Senate Bill 1363, and Representative Ledger Fernandez is on the House side.

Transcript Highlights:

• Right now, the budget has a budgetary balance, you know, money that is on the good side of the ledger
• good<00:01:10.159> side<00:01:10.320> of<00:01:10.439> The<00:01:10.560> Ledger
• <00:01:10.920> of<00:01:11.080> about the good side of The Ledger of about the good
• side of The Ledger of about $1.6<00:01:12.119> billion<00:01:13.119> but<00:01:13.320>

Keywords: 1187, senate, all

Transcript Highlights:

• We know we can't comment on it, ledger staff. But can we like it? Okay. Pam, that's okay with you?
• We know we can't comment on it, ledger staff. But can we like it.

Summary: The committee approved the minutes as corrected and noted there were no employment disclosure forms. It then discussed a draft advisory opinion on legislative stickers, pens, business cards, and similar items. Members agreed the opinion should identify historically provided items as presumptively within normal legislative conduct, but add clearer language that such items still cannot be used in a campaign-related way or otherwise conflict with ethics rules on use of public resources. Staff said Legislative Support Services and administration would be the main points of review for questionable requests, and the draft would be revised for board review. The committee also reviewed a second advisory opinion request about legislative and caucus staff interacting with caucus social media posts. The discussion focused on whether staff may like or engage with posts about legislation or policy positions. Members generally agreed that liking or otherwise engaging with caucus posts could be viewed as support and could create ethics problems, especially because social media content remains online and could later be tied to legislation. The draft was to be revised to draw clearer lines for compliance. Members then discussed a long-running project to review and either retain or retire older advisory opinions, and agreed to continue and complete that review process. They also discussed the recently passed ethics bill and supported issuing an ethics alert summarizing major changes, including concerns about a House amendment affecting social media and website references during the election year activity period. Finally, the committee approved spending about $19,171 to digitize archived case files into searchable format, with members expressing support for moving away from paper records. After public business ended, the committee adjourned the public session and planned to reconvene in executive session.

Transcript Highlights:

• So, it's not just internal ledgering and transfer between exchanges.
• <01:05:33.080> and it's not just internal ledgering and it's not just internal ledgering and
• that's going to uh be ledgering that's going to uh be necessary<01:20:11.840> to<01:20:11.920
• Uh, just think of the technology as the ledgering and recordation of the underlying liability for that
• I mean, it's just a different way of ledgering that asset, that liability for the bank.

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:

• potential personal use amount without any other indications that they were dealing, perhaps like a ledger
• Ledgers are less common, but obviously a clear indicator if they have cash transactions and showing five
• Ledgers are less common, but obviously a clear indicator if they have cash transactions and showing five
• Ledgers are less common, but obviously a clear indicator if they have cash transactions and showing five
• Ledgers are less common, but obviously a clear indicator if they have cash transactions and showing five

Keywords: 1191, senate, all

Transcript Highlights:

• FINALLY, WE WILL HEAR AN UPDATE ON THE FLORIDA COUNTY AND THE LEDGER MANAGEMENT PROJECT.
• THAT'S YOUR LEDGER, YOUR DEBITS AND CREDITS, ACCOUNTS RECEIVABLE, ACCOUNTS PAYABLE, THAT SORT OF THING

Transcript Highlights:

• Um, so it's consistently been on the same side of the ledger.
• Um, so it's consistently been on the same side of the ledger.
• consistently um been on the same side of consistently um been on the same side of the<01:47:50.480> ledger
• 52.560> lot<01:47:52.719> of<01:47:52.800> the<01:47:53.040> same the ledger
• Um for a lot of the same the ledger.

Keywords: 1189, house, all

Transcript Highlights:

• don't know whether it was advertising; I don't know if it's advertising dollars on their side of the ledger
• don't know, whether it was advertising, I don't know if it's advertising dollars on their side of the ledger

Summary: The committee met to review education audit reports and adopted the minutes. Legislative Audit reported 103 education audits total, with 89 having no findings and 14 containing findings. The committee first heard from Camden Fairview School District, which had findings for spending operating funds on an end-of-year employee banquet and for unauthorized credit card charges. District officials said they had implemented stronger internal controls, stopped using the affected card, and would limit future events to comply with state law and constitutional requirements. Members questioned the district about prior practices, donated funds, and how teacher appreciation could continue without using operating funds; the report was filed as reviewed. The committee then reviewed Forest City School District, which had a finding for spending $33,000 in operating funds on an off-campus end-of-year celebration and entertainment event. District representatives said the money came from a long-standing Pepsi-related donation fund, but acknowledged confusion over whether it should be treated as operational funds and said they would stop using it that way and provide training to staff and the board. Members discussed whether the funds were private donations or operating funds, the lack of a formal board vote, and whether the event was intended to recognize staff and growth; the report was filed as reviewed. The committee also received notice of more serious findings that were referred to the prosecuting attorney and attorney general, including Conway School District for misuse of district funds and resources by former maintenance employees, Magnolia School District for undeposited activity funds, Westside School District for undocumented and personal credit card charges, and Boonville School District for paying a board member’s son in excess of the statutory limit without an approved exemption. The remaining eight reports with findings were filed en masse as reviewed, and the 89 reports with no findings were also filed en masse. The committee adjourned after noting that most districts reviewed had no findings.

Transcript Highlights:

• don't know whether it was advertising; I don't know if it's advertising dollars on their side of the ledger
• don't know, whether it was advertising, I don't know if it's advertising dollars on their side of the ledger

Keywords: 1204, all

Summary: The committee met to review education audit reports, beginning with approval of the minutes and then hearing several school districts with findings. Camden Fairview School District addressed two findings: use of operating funds for an end-of-year employee banquet and unauthorized credit card charges that resulted in a small loss. District officials said they had changed credit cards, increased monthly review and reconciliation, stopped using operating funds for off-campus celebrations, and would limit future meals and events to district business. Members questioned whether the prior administration was still involved, whether the charges were from an outside hacker, and how the district would continue teacher appreciation without violating state law. Forest City School District then discussed a $33,000 off-campus staff celebration funded through what the district described as long-standing Pepsi-related funds. The district said it believed the money was discretionary private donation revenue, but audit staff said the funds were treated as operating funds because they were in a general fund account and subject to constitutional limits. The district said it would stop using the fund that way, provide staff and board training, and ensure future expenditures comply with the law. Members also asked about the lack of a formal board vote, the amount remaining in the account, and whether the event was meant to recognize staff growth and service. The committee next reviewed additional findings: Conway School District’s former maintenance employees allegedly misused district funds and resources, with a separate investigative report still pending; Magnolia School District had undeposited activity funds totaling more than $21,000; Westside School District had about $9,500 in credit card charges that could not be substantiated, along with weak internal controls and some personal charges; and Boonville School District paid a board member’s son more than $5,000 for groundskeeping without the required exemption, which DESE later denied. The committee filed the reports as reviewed, including eight other findings not referred for prosecution and 89 audits with no findings, and then adjourned.

Transcript Highlights:

• 616, HB 13, 61, SB 294 on power renters by requiring landlords to provide itemized 12-month tenant ledgers
• ... ...empower renters by requiring landlords to provide itemized 12-month tenant ledgers upon request
• , and specifically mandates that these ledgers be attached prior to any eviction filings.

Keywords: Virginia Housing Commission - Fees in Residential Rental Agreements Workgroup, 976, house, all

Summary: The workgroup began with introductions and then reviewed staff research on rental fees, including recent Virginia laws on lease transparency, application fees, payment portal fees, security deposits, pet fees, late fees, and maintenance charges, as well as approaches in other states. Members discussed the federal FTC rule on rental advertising and how Virginia’s current laws interact with broader consumer protection provisions. Several participants raised concerns about enforcement, remedies, and whether transparency rules should be placed in the landlord-tenant code to make them easier for tenants to use. The main legislative discussion centered on Senator Van Valkenburg’s SB 349, which would standardize and limit several rental charges. The bill would cap application fees at $50, make application deposits optional, limit administrative and utility-related fees, restrict renewal fees, require earlier disclosure of fees before touring, shorten the security deposit return deadline from 45 to 30 days, prohibit automatic move-out fees, and cap security deposits at one month’s rent. Supporters said the bill would improve transparency, predictability, and affordability for renters, while opponents warned about unintended consequences, especially for landlords in college towns and for tenants with weaker credit or unusual circumstances. There was also debate over whether application deposits are used to hold units off the market or function as a barrier to entry, and whether the bill should instead focus on clearer definitions and timing. Members also discussed application fee practices in Virginia, including whether landlords charge every adult on the lease, whether fees are truly capped at $50 plus out-of-pocket costs, and whether portable tenant screening reports should be considered. On security deposits, there was a sharp divide: tenant advocates argued that a one-month cap would reduce barriers for low-income renters and that larger deposits do not clearly correlate with damage risk, while industry representatives said the current two-month cap helps landlords manage risk and avoid higher rents or litigation costs. The workgroup did not take any formal votes, but the chair indicated that some issues appeared closer to consensus than others and that the application deposit and security deposit provisions likely need further follow-up before any final recommendations.

Transcript Highlights:

• They're not already currently in anywhere that we're dealing with, like blockchain, distributed ledger
• Slater Bayliss with Ledger, waiving support. Bayless with Ledger, waiving in support.

Summary: The Insurance and Banking Subcommittee met to hear and vote on several bills, with all measures reported favorably. The first major item was PCS for HB 175 on payment stablecoins, which would create a Florida regulatory framework aligned with the federal GENIUS Act so issuers can choose state regulation instead of federal licensing. Members asked extensive questions about how stablecoins differ from other digital assets, whether Florida would need federal approval, and what impact the bill would have on the Office of Financial Regulation; the sponsor and OFR said the state framework would mirror federal standards and that any workload increase was currently indeterminate. The PCS passed unanimously after testimony from OFR and the Florida Blockchain Business Association in support. The committee then approved CS for HB 961, which streamlines electronic signature requirements for salvage titles and certificates of destruction, and HB 1415, a DFS stablecoin pilot program allowing certain stablecoins to be used for licensing and regulatory fees. HB 1415 was amended to remove authority for a Florida coin, limit the pilot to established stablecoins with at least $1 billion market cap, and require secure custody through a public depository or custodial bank. Members discussed how any interest or revenue would be used, with sponsors saying the pilot was still exploratory and intended mainly to cover program costs. Both bills passed favorably. HB 1039, establishing a state cryptocurrency reserve, also passed after a strike-all amendment moved administration of the reserve from the CFO’s office to the State Board of Administration and tightened eligibility to cryptocurrencies with a $100 billion market cap over the prior 12 months. Supporters argued the bill would create a framework for future diversification and investment in established digital assets, while several members raised concerns about volatility, reporting frequency, and the meaning of new terms such as qualified liquidity provider and secure custody solution. The committee also passed CS for HB 951 on penny rounding for cash transactions, with an amendment clarifying cash transaction definitions and treating money orders and gift cards like credit-card transactions for rounding purposes.

Transcript Highlights:

• situation if they're unable to, you know, handle proper accounting and keep track of an accurate ledger
• 00:51:28.480> track<00:51:28.640> of<00:51:29.040> accurate<00:51:29.440> ledger
• <00:51:29.760> and keep track of accurate ledger and keep track of accurate ledger and failure

Keywords: 1191, senate, all

Transcript Highlights:

• This helps provide assurance that the recorded amounts within the general ledger are complete and that
• This helps provide assurance that the recorded amounts within the general ledger are complete and that

Summary: The Joint Legislative Auditing Committee received a presentation from Auditor General staff on recurring findings from audits of district school boards, colleges, and universities. For school districts, the main issues discussed included missing or outdated safe-school officer training documentation, weak purchasing-card controls, vendor banking-change fraud risks, incomplete background screenings and disqualification-list procedures, missing website budget disclosures, excessive or untimely IT access, late deactivation of former employees’ access, missed emergency drill deadlines, inaccurate capital outlay and resiliency education records, weak tangible property inventories, adult education reporting errors, untimely bank reconciliations, and improper use of workforce development funds. The auditors said many of these issues are repeated from prior years and are summarized in their annual report on significant findings and financial trends. For universities and colleges, the auditors highlighted similar control weaknesses, including vendor information change controls, IT access issues, cash and investment reconciliation problems, purchasing and procurement deficiencies, personnel and compensation issues, and student fee compliance concerns. Specific examples included a UF consulting contract totaling about $6 million, FAU underreporting carry-forward balances by about $77 million, UCF’s payment loss of about $107,000 from an email scam tied to vendor changes, and a North Florida College unauthorized transfer involving a few hundred thousand dollars. The committee asked questions about the UF consulting work, the FAU carry-forward issue, and whether the listed findings meant every named entity had every issue; auditors clarified that the lists reflected entities with findings in those categories, not necessarily each specific problem. The committee then turned to enforcement for entities with long-standing uncorrected audit findings. Staff reported 144 entities with 197 findings repeated in three or more successive audit reports and recommended sending letters requesting updated corrective-action status, including for late-filed 2022-2023 reports where appropriate. The committee approved the staff recommendation and directed letters to be sent. The meeting ended with members emphasizing the importance of audit oversight and taxpayer accountability.

Transcript Highlights:

• want to start doing, let's make sure we fill these holes that's been created on both sides of our ledger
• want to start doing, let's make sure we fill these holes that's been created on both sides of our ledger
• want to start doing, let's make sure we fill these holes that's been created on both sides of our ledger
• on both sides holes that's been created on both sides of<00:04:09.519> our<00:04:09.760> ledger
• So I I I this was a great of our ledger.

Bills: SB170, SB177, SB207, SB208, SB215, HB27, SB219, SB247, SB232, SB81

Keywords: 923, senate, all

Transcript Highlights:

• That's how most informed people are, because, like, I have a Ledger, so immediately whenever I purchase
• That's how most informed people are, because, like, I have a Ledger, so immediately whenever I purchase
• But yeah, so whenever I buy from there, I immediately move it to my Ledger.

Summary: The committee took up several House measures. HCR 66, as amended, asked Louisiana Economic Development and the Governor’s Office of Rural Development to study rural parish assets, infrastructure, workforce, and development opportunities, and it was moved forward without objection. HB 387, a clarification to allow the fire marshal’s office to review architectural and engineering plans equally, also passed favorably without objection. HB 1223, which would have LED promote Louisiana’s clinical trial capacity and adjust internal review board processes, was amended and moved favorably. HB 950, aimed at helping older adults recognize and avoid fraud through materials and resources from the Office of Elderly Affairs, was reported favorably. HB 975, a routine measure to recreate the Public Service Commission, was also reported favorably. HB 1186, which would create a more uniform statewide building code and licensing system for inspectors, was amended and moved favorably. HB 1222, described as a Grocery Initiative Act to let LED identify ways to address food deserts and food insecurity, was introduced near the end of the meeting. The most extensive debate centered on HB 617, a consumer transparency bill requiring mandatory fees to be included in upfront pricing. The author said the bill was intended to curb hidden fees and help consumers compare prices, with examples such as hotel resort fees and automatic restaurant service charges. Supporters argued it would improve transparency, while opponents from grocery, restaurant, hotel, housing, retail, and business groups said the bill was too broad, vague about terms like “total price,” unclear on enforcement and penalties, and could create compliance burdens and litigation risk, especially for small businesses. Housing advocates opposed the bill’s housing carve-out, arguing it could weaken renters’ ability to bring unfair-practice claims. Senator Morris moved to defer HB 617, and the committee agreed without objection. The committee also heard lengthy testimony on HB 797, which would create a Bayou Gold certification for certain transactional gold vendors that meet state-defined standards such as segregation, insurance, and nearby storage. The sponsor said the goal was to give consumers confidence and encourage vendors to keep gold closer to Louisiana, while critics argued the program would amount to a state endorsement of private companies, create misleading consumer impressions, and expose the state to confusion or liability. The bill drew opposition from the Sound Money Defense League and others, but the committee ultimately reported HB 797 favorably, with the understanding it still had to go to Finance. HB 1228, a hearing-aid cleanup bill updating definitions, contracts, testing periods, and licensing rules, was also moved favorably without objection.

Transcript Highlights:

• So a Bitcoin is a mathematical representation in a digital ledger, kind of like a spreadsheet.
• <00:40:27.839> kind representation in a digital ledger kind representation in a digital ledger
• So the state impact on the state ledgers is essentially a $12.7 million forecast on the future.
• So the state impact on the state<01:05:22.000> ledgers<01:05:22.640> is<01:05:23.039>
• state ledgers is essentially a $12.7 million<01:05:25.359> umish<01:05:26.000> you<01:

Keywords: 928, house, all

Summary: The committee held a work session on HB 302, which would add precious metals and digital assets as potential investment options. State Treasurer Monica Misipelli said she took no position on the bill and did not see an immediate fiscal impact or operational problem, but explained that the state’s operating funds and rainy day fund require liquidity and stability, so they would not be suitable for volatile assets like precious metals or digital assets. She said the only funds that might potentially use such investments would be certain trust funds held in perpetuity, which are managed by an outside investment advisor under a contract and investment policy. Members asked about the treasurer’s current investment practices, including the types of funds managed, the role and discretion of the investment advisor, the state’s risk profile, and whether the bill would affect existing authority. Misipelli said the office follows RSA 11 and related statutes, with different objectives ranging from conservative to aggressive depending on the fund, and that the advisor meets with the office regularly, with formal performance reviews on a quarterly basis. She also said the office recently centralized management of about 40 trust accounts totaling roughly $60 million into five combined portfolios under a five-year contract with an RFP-selected vendor. When asked whether precious metals or digital assets are already indirectly available through mutual funds, she said that was possible for some mutual funds, but she was not certain about digital assets. Representative Ammon, the bill’s sponsor, said similar legislation had passed the Oklahoma House, the Texas House and Senate, and had advanced in Arizona. He argued the bill was intended to give the treasurer more tools to help balance portfolios and hedge inflation, noting concerns about federal debt and inflation. No vote was taken in the excerpt, and the chair ended the questioning after thanking the treasurer and asking her to remain available in case further questions arose.

Transcript Highlights:

• The way that we conduct our business is where our pricing for all of our drugs is under one single ledger
• business, we generally see folks moving from a traditional PBM model to our pass-through, single-ledger

Bills: SB511, SB512, HB591, HB909, HB938, HB1154, HB1187

Keywords: automobile repairs, insurance transparency, repair shop liability, non-OEM parts, policyholder rights, automobile insurance, appraisal process, insurance policyholders, dispute resolution, claim valuation, family leave, insurance, paid leave, employment benefits, caregiver support, behavioral health, crisis services, mental health care, insurance coverage, healthcare access