Transcript Highlights:

• Payment stable coins issuance to just banks, issuing payment stable coins is inherently different than
• Second, payment stable coins are backed one-to-one in reserves.
• Colombia where payments don't exist and you don't have the ability to transact.
• for timely redemptions of outstanding payment stable coins. stable coins.
• infrastructure between banks are tailored to payment stablecoin issuers.

Bills: SB875

Keywords: banking regulation, federal agencies, reputational risk, financial services, supervision, FIRM Act, bank supervision, depository institutions, federal banking agencies, FDIC, OCC, Federal Reserve, NCUA, CFPB, credit unions, Operation Choke Point, financial discrimination, safety and soundness, supervisory guidance, examination manual

Summary: This meeting focused on the markup of the Genius Act and the FIRM Act, two significant pieces of legislation addressing stablecoin regulation and the financial industry's regulatory framework. The Chairman noted the importance of providing clarity to the digital asset community and protecting American consumers, while also promoting innovation and competition within the financial sector. Members of both parties expressed varying viewpoints, with some highlighting concerns related to national security and the potential risks associated with stablecoins.

Transcript Highlights:

• payment has been made or not. payment has been made or not.
• payment within 60 days of the invoice. payment within 60 days of the invoice.
• The GC would not provide the payment.
• But, unfortunately, the payment paid.
• their rights to seek timely payment. their rights to seek timely payment.

Keywords: 1187, senate, all

Transcript Highlights:

• motor vehicle payments.
• The holder may not establish electronic payment as the expected form of payment and must inform the borrower
• motor vehicle payments.
• The holder may not establish electronic payment as the expected form of payment and must inform the borrower
• The holder may not establish electronic payment as the expected form of payment and must inform the borrower

Bills: HB111

Summary: The committee heard a long series of House bills, with most measures laid out by Senate sponsors and then left pending after brief public testimony. Early bills focused on construction and licensing issues, including HB 305 on prompt payment for public construction audits, HB 5093 on restoring public access to notary contact information, HB 2037 on updating landlord-tenant repair and security deposit rules, HB 4214 on a centralized public information request contact database, and HB 5435 exempting higher education institutions from a 90-day notice requirement for certain public-private partnership projects. Testimony was generally supportive on these bills, and no votes were taken; each was left pending. The committee also considered several transparency and regulatory bills. HB 111 would expand the Public Information Act to certain nonprofit state associations and narrow some attorney-client and working-paper exceptions, with supporters arguing it would improve oversight of public funds and critics questioning the scope and thresholds. HB 5129 would protect occupational license holders’ personal identifying information from disclosure without consent, HB 4350 would allow peace officers to redact personal information from online real property records, HB 4748 would authorize multiple-award state purchasing contracts, and HB 4765 would clean up code enforcement officer licensing rules. HB 4134 would allow motor vehicle creditors to charge limited fees for electronic payment options while requiring a free alternative, and HB 1043 would direct a study of blockchain-based property title records; both drew testimony, with some concern about the practical effects and vendor implications of the blockchain study. Several bills addressed insurance, workforce, and digital-asset regulation. HB 3520 would reduce the insurance coverage required for transportation network companies during the period when a driver is en route to pick up a passenger, drawing support from Texans for Lawsuit Reform and opposition from trial lawyers who argued the higher coverage better protects the public. HB 3320 would create a self-insurance pool for religious institutions, with TDI explaining it would still be regulated but operate under a special statutory framework. HB 4233 would modernize rules for digital asset service providers by removing certain auditor-access requirements and updating reporting and licensing provisions. HB 3923 would reduce bachelor’s-degree requirements for some state jobs, though Every Texan argued low pay, not degree requirements, is the main driver of turnover. HB 4518 would create a legal structure for decentralized unincorporated nonprofit associations tied to blockchain governance; business law experts opposed it as unnecessary and potentially risky, while crypto advocates supported it. Finally, HB 1803 would join an interstate compact for dentists and dental hygienists, with supporters citing workforce shortages and opponents saying Texas already licenses quickly and that the compact could weaken state oversight. Throughout the hearing, the committee repeatedly closed testimony and left bills pending, and a quorum was eventually established before later items were heard.

Transcript Highlights:

• Late payments erode profits.
• interest on late payments. interest on late payments.
• , retainage payment, or final payment made to the contractor.
• 45:41.680> made retainage payment, or final payment made retainage payment, or final payment made
• those payments if they request it. those payments if they request it.

Keywords: 1187, senate, all

Transcript Highlights:

• And non-claims can be like value-based payments, right?
• But there are value-based payments for HCBS, too. Is that question about value-based payments?
• Value-based payment is a very important... Value-based payment is a very nice term. Sounds great.
• And if those differences in payments go up substantially, then that hospital is receiving more payments
• That hospital is receiving more payments than, or higher payments than, a benchmark that is set for this

Keywords: 962, all

Summary: The Complex Care Committee meeting focused first on a new Diabetes Caucus launched at the Capitol. Rep. Johnson described the caucus as a forum to educate people about type 1 and type 2 diabetes, genetic risk, early testing, pregnancy-related diabetes, and ways Medicaid policy might improve prevention and lower long-term costs. Members agreed the caucus could intersect with care management, and Carolyn Grandell of CHNCT offered to share information about current diabetes-related care management services at a future meeting. The committee then heard a detailed presentation from Alex Rigger of the Office of Health Strategy, who is moving to the Office of Policy and Management. He reviewed Connecticut health care benchmark data, including total health care expenditures, medical spending, and market-by-market trends. He said 2023 to 2024 per-capita spending grew more than 8.5% statewide and 14% in Medicaid, with long-term care accounting for about 46% of Medicaid spending and retail pharmacy also identified as a major cost driver. Members asked about enrollment changes, dual-eligible populations, Medicare Savings Program members, 340B drug pricing, and value-based payment models. Rigger explained that his office tracks alternate payment models and quality benchmarks, but does not separately capture 340B data. Discussion then shifted to Medicare Advantage, dual eligibles, and hospital discharge planning. Members said they want better data on how many Medicaid members are in Medicare Advantage plans and whether those plans shift costs back to Medicaid or affect access to care, especially for complex-care patients. Staff noted DSS does have some Medicare Advantage indicators and that CMS is developing encounter-data rules for states. Kathy Holt and others raised concerns about denials, nursing home stays, and the need to compare Medicaid spending for dual eligibles in Medicare Advantage versus traditional Medicare. The meeting ended with plans for follow-up data sharing, including Alex Rigger’s slides, the diabetes caucus materials, and a future discussion with DSS and other agencies; no formal votes were taken.

Transcript Highlights:

• Um, modernizing payments.
• Um, modernizing payments.
• Um modernizing payments. We've had side. Um modernizing payments.
• rules around those payment stable coins. rules around those payment stable coins.
• They can use it for payments. They don't care what the payments are done for.

Keywords: 1189, house, all

Summary: The commission met to review stable tokens, real-world asset tokenization, and blockchain-based trust, approved the agenda and December 12 minutes, and heard a presentation from Anchorage Digital after postponing a planned Bitco presentation because of its IPO quiet period. Anchorage’s Melinda Delos, Joe Mioli, and Kevin Wasaki introduced the firm, describing it as a global digital assets platform and the first crypto-native institution in the U.S. to receive a federal banking charter. They said their approach emphasizes security, regulated custody and trading services, and responsible innovation for institutional clients, banks, states, and sovereigns. The presentation focused on post-Genius Act momentum in the stablecoin market. Anchorage said the law provided regulatory clarity and helped spur activity with major clients, including Athena, Tether, and Western Union. The speakers highlighted Western Union’s planned stablecoin as especially significant because it reflects adoption by a long-established traditional payments company, and they said the project illustrates how stablecoins can support programmable, real-time, interoperable payments. They also noted that Anchorage is providing issuance infrastructure for the Western Union project. The commission and presenters also discussed government uses of tokenized assets, including reserve legislation, digital assets for tax collection and fees, and a Marshall Islands initiative to use a tokenized sovereign bond for direct citizen payments. In response to a question, Anchorage said it would follow up on which states are using digital assets for revenue collection, mentioning Louisiana and Pennsylvania as examples. The banking discussion centered on remittances, instant payments, and interbank settlement, with Anchorage arguing that stablecoins can reduce settlement time, fees, and foreign exchange risk while improving traceability and auditability.

Transcript Highlights:

• So these payments will continue...
• analysis that has to go into the calculation of the payments.
• Madam Chair, members, we draw the federal funds at the time we make the payment.
• We draw the federal funds at the time the payment is made. All right. Thank you.
• , and this is why the TIP payments aren’t being made.

Keywords: 1182, all

Summary: The Committee on Health and Human Services held another oversight hearing on Access, focusing on fee-for-service behavioral health management, prior authorization and claims processing, the Targeted Investment Program (TIP), and network adequacy. The chair and other members criticized Access for repeated transparency failures, including missing records related to the Covered Behavioral Health Services Guide, lack of public comment, unanswered questions about ARPA compliance, and concerns about ghost networks and delayed payments to providers, especially in Native communities and rural areas. Interim Director Roberta Harrison said Access had improved fraud controls after the sober living scheme crisis and acknowledged the need for modernization. She reported faster prior authorization processing, fewer denial codes, real-time dashboards, additional staffing, and claims processing under 30 days. She also said the agency wants more fraud referrals and is working to strengthen internal systems and communication. On the TIP program, Access officials explained that payments are delayed because of complex data validation and allocation across many provider sites; they said year one of TIP 2.0 was paid, but years two and three had not yet been distributed. The committee requested a formal plan within 30 days for paying the estimated $122 million in delayed TIP funds and asked for CMS-related documentation. Committee members also questioned Access about a direct contract with Constellation for claims processing, noting language in the proposal suggesting higher ROI from denying more claims; Access said that language was not part of the contract scope and was verbally rejected. On network adequacy, officials described time-and-distance standards, annual MCO reports, and internal review processes, but could not immediately confirm whether a fiscal year 2025 report had been submitted to CMS or whether any corrective action plans had been imposed. The chair concluded that Access’s improvements appeared to be driven by legislative pressure, said the committee would review the information received, and announced that Access would be sent detailed monthly reporting directions before the hearing adjourned.

Transcript Highlights:

• I've seen a 2.2 percent rate of improper payments in Minnesota.
• So I want to be very clear: improper payments do not mean fraud.
• We have other ways to recover improper payments, right?
• You talked about how you recover improper payments?
• We are stopping payment percentage-wise; we are stopping payment unless the law enforcement entity says

Transcript Highlights:

• In any event, a payment stable coin or token must be used or designed to be used for payments.
• In any event, a payment stable coin or token must be used or designed to be used for payments.
• <00:18:54.720> Um it to be a payment stable token. Um it to be a payment stable token.
• with the payment. with the payment.
• They're a payment mechanism, a payment structure.

Keywords: 1189, house, all

Summary: The commission met on November 12 and first approved the September 17 and October 15 draft minutes unanimously after brief discussion. Members also identified themselves for the record, including a new member from Bumpsk Bank, a staff attorney from the Secretary of State’s Bureau of Securities Regulation, a prior crypto commission participant, and a uniform law commissioner involved in tokenization projects. The main presentation was by UNH law professor Seth Orinberg, who discussed the federal GENIUS Act and the pending Clarity Act and how they affect New Hampshire’s options in the digital asset space. He described the GENIUS Act as governing payment stablecoins/stable tokens, defining them as blockchain-based assets used primarily for payments, redeemable for a fixed amount of national currency, and required to maintain stable value. He said the law creates three possible state roles: hosting federally qualified issuers, becoming a state qualifier for issuers up to a $10 billion threshold, or exploring state-backed issuance as a sovereign. He noted that the state-qualification path would require conforming legislation, examination capacity, and coordination with Treasury, while the sovereign-issuer theory is legally uncertain and may become a test case. Orinberg also outlined the core compliance framework he said applies to covered issuers: 100% reserve backing in high-quality liquid assets, monthly public reserve reporting, no yield or interest-like rewards, segregation of reserve assets, immediate redemption at face value, and anti-money-laundering/know-your-customer obligations. He then turned to the Clarity Act, describing it as a broader market-structure bill that would create categories such as digital asset, digital commodity, digital security, and ancillary asset, with self-certification procedures for issuers. He said the two federal laws together would separate payments from investments, preempt inconsistent state standards for covered payment stablecoins, and likely reshape the boundaries of state authority over digital assets.

Transcript Highlights:

• So it does not affect your mortgage payment.
• Then they have this balloon payment to pay. And still make their payments. I apologize. I'm sorry.
• They could keep their payment, keep their hope.
• Then they have this balloon payment to pay. And still make their payments. I apologize. I'm sorry.
• So any temporary payment would be in addition to it.

Keywords: 996, all

Transcript Highlights:

• office overpayments, or duplicate invoice payments.
• They approve the payments.
• Most vendors are paid under net 30 payment terms.
• We also have vendors who have ACH payments.
• payment into two.

Keywords: 977, all

Summary: The committee met to receive a detailed financial operations presentation from the South Carolina Vocational Rehabilitation (VR) agency, with staff walking members through funding sources, budgeting, accounts receivable, accounts payable, and grants management. Sabrina Walker explained VR’s blended funding structure, including federal grants, state appropriations, program income, and interagency contracts, and emphasized that state funds are essential to meeting the federal match and maintenance-of-effort requirements. Members asked repeatedly about transparency, audit controls, and the risk that state cuts could reduce federal drawdowns; staff responded that all reports reconcile back to the SCEIS accounting system, are subject to state audits and internal reviews, and that even modest state reductions could significantly reduce total available funding. The committee also discussed pre-employment transition services for students with disabilities, with staff confirming services are offered through school districts, charters, and private schools, and that contracts are monitored for performance and compliance. The presentation then shifted to budgeting and internal controls. Walker described a zero-based departmental budgeting process, monthly monitoring reports, contingency reserves for unexpected expenses, and a formal annual cycle that culminates in board approval. Members asked about facilities tracking, culture, and how the agency maintains accountability; staff said facilities staff inspect buildings and equipment, supervisors justify line-item requests, and the process has become smoother over time as departments learned the system. Cynthia Johnson followed with an accounts receivable overview, describing invoicing, receipting, aging, customer verification, year-end reporting, and the use of cross-training, shared email inboxes, and spreadsheets as checks and balances. She also explained work training center billing, interdepartmental transfers, and the revolving fund used to issue consumer checks more quickly than standard vendor payments. Olivia Perez presented accounts payable operations, including invoice processing through SCEIS and OnBase, the three-way match, travel reimbursements, revolving fund checks, State Treasury Office interactions, and handling of reversals, rejections, and levy notices. She reported that AP processed 67,723 SCEIS payments, 13,670 case management system invoices, 3,379 travel reimbursements, and 15,693 revolving fund checks in fiscal year 2025, with only 70 payment rejections. The final portion of the meeting covered Grants and Funds Management, where Walker explained federal reporting, drawdowns, payroll allocation, asset tracking, lease and IT contract reviews, cost allocation, and closing packages. She noted upcoming system changes such as S/4HANA, Workiva, and SC Pro, but said the agency is receiving training and feedback opportunities. No formal votes or legislative actions were taken during the presentation portion beyond approval of the prior minutes and a brief recess.

Transcript Highlights:

• The behested payments are payments made at the request on or behalf of an official for a legislative,
• report within 30 days of the payment being received.
• For payments of $5,000 or more, from a single source in a calendar year.
• payments.
• Who is directing these payments and who is benefiting from these payments, right?

Keywords: 988, house, all

Transcript Highlights:

• this program only makes payments this program only makes payments to<00:03:34.560> companies<
• > that rata payments or partial payments, that rata payments or partial payments, that sort<00
• get a payment they were hoping to get. get a payment they were hoping to get.
• <00:10:22.880> and<00:10:23.000> then make payments and then make payments and then
• I mean, or is it payments weren't made?

Keywords: 1183, house

Transcript Highlights:

• payment suspensions uh in 2025. payment suspensions uh in 2025.
• <00:28:41.120> until they can withhold those payments until they can withhold those payments
• avoid the withholding of payments avoid the withholding of payments included<00:30:30.560> in
• , uh or reduce payments, uh or reduce payments, uh<00:35:02.920> you<00:35:03.080> said
• And that's all we want here because issue payment suspensions, there is no issue payment suspensions,

Keywords: 1187, senate, all

Transcript Highlights:

• The problem, though, is malpractice itself, not malpractice payments.
• incidents resulting in a payment per 1,000 physicians.
• So there's a lot of malpractice payments.
• Therefore, you save money on malpractice payments.
• You will reduce medical malpractice payments if you reduce medical malpractice.

Transcript Highlights:

• It's not just public lands; there's a lot of lakeshore land, and the payment in lieu of tax payments
• The bill also requires payments to townships of 10% for the payment received for other lakeshore land
• <00:37:05.760> are<00:37:06.079> the payment in lie of tax payments are the payment
• :58.800> to comparing these PILT payments to comparing these PILT payments to potential<00:47:
• so my question is how do PILt payments so my question is how do PILt payments maybe<00:49:56.079

Keywords: 1187, senate, all

Transcript Highlights:

• payments business? payments business?
• payments by DHS. payments by DHS.
• happened to be caught in the payment happened to be caught in the payment withhold<01:20:21.040>
• well as the temporary payment withhold. well as the temporary payment withhold.
• And unfortunately, the temporary payment And unfortunately, the temporary payment withhold<01:32

Keywords: 1187, senate, all

Transcript Highlights:

• payment withholds and so payment payment withholds and so payment withholds<01:09:30.000> are
• vestigations so the governor's payment vestigations so the governor's payment withhold withhold
• um I I am I'm hesitating because payment um I I am I'm hesitating because payment withholds<01:24
• <01:47:22.360> we we had taken action to stop payment we we had taken action to stop payment
• that instance was to allow the payments that instance was to allow the payments to<01:47:44.639>

Keywords: 1183, house

Transcript Highlights:

• So that's why that payment.
• So those payments are well above.
• For grandfathered payments...
• the Medicare payment rate.
• However, each year, CMS adjusts Medicare payment rates, so the new upper payment limit will grow over

Transcript Highlights:

• And you see there, the mid-year payment totaling up, without the OAB payment that's now zero, is the
• $565 million total projected UAL payment.
• The next page is a projection of UAL payments.
• Now, that's just the UAL payment.
• Right, but now that's just the UAL payment.

Keywords: 965, house, all

Summary: The Public Retirement System Actuarial Committee met on Monday, June 22, with a quorum present and approved the prior meeting minutes. There was no public comment. The main item was an actuarial update from Ms. Johnson on LASERS, prompted by House Bill 312 of 2026, which appropriated about $145 million to LASERS and required the committee to revise the projected fiscal year 2027 employer contribution rate to reflect the funds received. Ms. Johnson explained that $87.6 million was applied to the original amortization base, paying it off, and the remaining $57.9 million was applied to the experience account amortization base. As a result, the projected aggregate employer contribution rate for fiscal year 2027 was reduced from 32.51% to 30.05%, a decrease of 2.46%, with the projected employer contribution amount revised to about $738.7 million. She also noted that the original amortization base balance would be zero by June 30, 2026, while the experience account amortization base would continue to be paid down over time. Committee members asked about the longer-term impact of the changes, including a question about projected savings in 2036. Ms. Johnson said the later-year savings would depend on future actuarial experience and investment performance, but the projected UAL payment in that year would be lower under the revised schedule. The committee then moved to adopt the revised projected fiscal year 2027 LASERS contribution rate of 30.05% by plan, the motion was seconded, and it passed without opposition. The meeting then adjourned.