Transcript Highlights:

• We certainly understand the goal of Senate Bill 519 in creating protections for property owners.
• </c><00:44:01.520><c> Um,</c><00:44:01.839><c> and</c> protections for property owners.
• Um, and protections for property owners.
• Happy New Year. but it'll save private property owners but it'll save private property owners and<00:
• The burden on private property owners is really a lot when this happens.

Committee: Senate Judiciary

Transcript Highlights:

• The commissioner feels it's only fair that when a property owner is being evaluated by these models and
• We believe it is in the best interest of both the property owner and the insurance company to share the
• We believe it is in the best interest of both the property owner and the insurance company to share the
• Generally, we believe it's important for owners to have an opportunity to understand how their property
• Owners have an opportunity to understand how their property and insurance are evaluated, learn ways to

Summary: The Senate Business, Trade and Economic Development Committee first held a work session on protecting children online. Testimony focused on a proposed Kids Online Protection Act that would limit addictive algorithmic feeds for minors and restrict push notifications during school hours and at night. Supporters included a former tech executive, a Meta whistleblower, and a psychology researcher, who argued that social media design exploits adolescent development, harms well-being, and that the bill gives parents and children more control without banning access to content. Industry and trade group witnesses opposed the approach, arguing it would violate the First Amendment, create privacy risks through age verification, and could reduce useful personalization and safety tools; they said companies are already implementing teen protections and parental controls. The committee did not take a vote during the work session. The committee then held a public hearing on Senate Bill 5928, sponsored by Senators Warnick and Short at the request of the Insurance Commissioner. The bill would require property insurers using wildfire risk scores or models to disclose more information to consumers, explain adverse factors, provide appeal and rescoring processes, and account for mitigation actions in rate filings and discounts. The Office of Insurance Commissioner, a Colville Tribal representative, fire district testimony, climate advocates, realtors, hospitality businesses, and insurance agents generally supported the bill as a transparency and consumer-protection measure, with some urging inclusion of commercial lines and stronger recognition of local fire mitigation. Several insurance trade groups opposed or were neutral, warning that the bill goes too far, could expose proprietary underwriting information, increase regulation and costs, and should be narrowed to align with other states’ approaches. No vote was taken, and the chair adjourned after the hearing.

Transcript Highlights:

• </c> you know, more than likely property you know, more than likely property damage<00:16:42.320><c>
• ,</c> private property, private property, despite<00:18:26.960><c> what</c><00:18:27.120><c> hotels</
• Let the owner decide. Let them have a policy. If somebody sues the owner, they don't have a policy.
• Keep it to the owner because that property belongs to the owner.
• Keep it to the owner because that property belongs to the owner.

Summary: The subcommittee took up Senate Bill 19, which was described as repealing an archaic requirement that hotel keepers post rental-rate notices in rooms. Most of the discussion focused on an amendment addressing whether hotels may refuse rentals to people under 21. Supporters argued the bill’s purpose was to clean up outdated, unenforceable laws and that the amendment would clarify the age-discrimination issue by allowing businesses to set and consistently apply their own policies, such as 21-and-under thresholds, to avoid problems like underage drinking, property damage, and liability. A representative from the New Hampshire Lodging and Restaurant Association said the current language is unclear because it does not define the age threshold, creating uncertainty about whether a hotel could be compelled to rent to very young minors. Several members emphasized that owners should be able to set policies for their properties, including age-based rental restrictions, so long as they are clear and consistently applied. One member said the amendment should be more explicit about policy and thresholds, while another noted a future bill might further tighten the language. The discussion also touched on vacation rentals, deposits, and the practical differences between hotels and other rental properties. The amendment was approved by the subcommittee, and the bill was then moved as amended. In the later executive session, the committee voted 11-0 to adopt amendment 1689, then voted 11-0 ought to pass as amended, and finally voted unanimously to place the bill on the consent calendar.

Transcript Highlights:

• Um, question, um, uh, Director, who is the current owner for the property?
• is the current um owner for the property<00:28:11.519><c> um</c><00:28:11.679><c> what</c><00:28:11.880
• Since then, I've become part of an archaeological inventory study that the property owner, Avalon, is
• </c> Paul Newman who had owned the property Paul Newman who had owned the property uh<00:38:35.520><c
• </c><00:38:49.400><c> owner</c> inventory study that the property owner inventory study that the property

Summary: The committee first heard House Bill 707, which would create a state income tax deduction for contributions to Hawaii 529 college savings accounts and conform state law to federal changes allowing 529 funds to be used for K-12 expenses. The Department of Taxation said it could administer the bill as written. The Hawaii State Council on Developmental Disabilities supported the measure but asked that ABLE accounts be included and that the program title be changed; the Department of Taxation indicated the title issue could be a problem because the bill’s expanded purpose may not fit the current program name. No vote was taken. The committee then heard House Bill 617, which would fund a Bachelor of Science in Nursing program at the University of Hawaiʻi Community Colleges. UH Community Colleges supported the bill, and Maui nursing staff testified that faculty recruitment is challenging but manageable, clinical placements are available, and the campus already has a statewide RN-to-BSN pathway; they said the new program would create two tracks, including a four-year BSN option. Members also heard support from several organizations, including the Office of Hawaiian Affairs, nursing groups, and health care associations. No action was taken. Next were several UH-related measures. HB 718 would fund faculty and staff positions at the John A. Burns School of Medicine; the dean and other supporters testified in favor. HB 1279 would create a medical education liaison position tied to Project ECHO; the Attorney General raised constitutional concerns about statewide concern and grant standards, while an individual witness supported the concept but suggested the bill should focus on liaison/support functions rather than program administration. HB 1169 would consolidate conference center revolving funds, and HB 1168 would authorize up to $800 million in UH revenue bonds; UH’s CFO said both were procedural/housekeeping measures and supported them. On HB 1168, members questioned debt service, possible uses, and whether deferred maintenance would be included; the CFO estimated annual debt service could be about $33 million to $41 million at current rates, said likely uses could include student housing and research facilities, and said deferred maintenance was not the current strategy. The CFO also explained that revenue bonds require both legislative authorization and a Board of Regents resolution approving the project and amount. Finally, the committee heard HB 548, which would authorize revenue bonds and appropriations to acquire the St. Francis School campus for UH Mānoa. UH supported the bill but noted the property is privately owned and not known to be for sale. A supporter described the site as a unique 11-acre parcel contiguous to the main campus and urged the committee to seize the opportunity for future generations. No vote or final action was taken on the bills in the transcript.

Transcript Highlights:

• While legitimate use of real estate wholesaling can provide a needed option to some property owners,
• This lack of transparency can leave property owners vulnerable.
• Maybe they inherit a property.
• Also, these properties are the properties. wholesalers undertake.
• And then the new owner, who is a lower-income person, does buy the property only to realize all of its

Committee: House Joint Committee on Rural Economic Development

Summary: The committee first heard House Bill 2508, which would clarify that Missouri series LLCs may obtain standalone certificates of good standing from the Secretary of State and be individually listed on the Secretary of State’s website. Representative Chris Brown said the bill is intended to remove uncertainty created by a newer interpretation of the law and help Missouri businesses operate in other states. Committee members and witnesses from law and business groups generally supported the measure, emphasizing transparency, easier verification of entities, and reduced barriers to interstate business. No opposition was offered, and the hearing on HB 2508 was closed. The committee then heard House Bill 2517, which would require real estate wholesalers to provide a written disclosure before contracting with a seller, stating that they are acting as a wholesaler, do not represent the seller, may assign the contract, and encouraging the seller to seek legal counsel. Representative Brown described the bill as a consumer protection measure aimed at preventing deceptive practices that can harm distressed homeowners, seniors, heirs, and first-time sellers. Members raised questions about whether the disclosure should be more prominent and whether the bill would affect legitimate investors. Brown and several supporters said the bill targets bad actors without restricting legitimate transactions. Testimony on HB 2517 was mixed but broadly supportive of disclosure. The Missouri Association of Realtors, the Missouri Chamber, and several wholesalers and homebuyers supported the bill’s transparency requirements, while warning that overregulation could hurt the market for distressed and blighted properties. Supporters described wholesalers as important to moving off-market homes into the hands of rehabbers and argued that disclosure helps ensure sellers understand the transaction. One witness said the Senate companion bill had been amended to require disclosure 14 days before contracting and to make Attorney General enforcement discretionary, which would eliminate the fiscal note, though some witnesses said the 14-day requirement could burden sellers in urgent situations. The hearing on HB 2517 was then closed, with no votes taken during the meeting.

Transcript Highlights:

• So this property was sold, which is the claimant's grandparents' property, for back taxes in 2009; is
• Okay, so we have a sale of property in 2009.
• I know some members just don't like property taxes.
• It was signed for, let's see, the original owners of this property were Chris and Maudeen Binton, I'm
• So this property sold in 2009. Is that correct? Mm-hmm.

Committee: All JBC-CLAIMS REVIEW/LITIGATION REPORTS OVERSIGHT SUBCOMMITTEE

Summary: The Joint Budget Committee’s Claims Review and Litigation Reports Oversight Subcommittee met to consider two proposed Department of Corrections litigation settlements and one appealed claim from the Claims Commission. The first settlement, Caroline Arnett v. Larry Norris et al., involved allegations of long-term sexual abuse by a corrections employee. Committee members asked about PREA audits, facility practices, and whether the inmate had been placed at the proper facility. The department said audits and other safeguards were underway, and the committee approved the settlement. The second settlement, Latasha Ridgel v. Arkansas Department of Corrections, also involved sexual harassment/assault allegations. Members questioned the seven-year delay in the case and whether the issue was systemic; the department cited attorney turnover, COVID delays, and legislative changes making inmate exposure a felony. The committee approved that settlement as well. The committee then heard an appeal in Sharon Greer and Deanna Hayes v. Commissioner of State Lands, a denied and dismissed claim involving a tax-delinquent sale of family property in Crittenden County. Staff and the Commissioner of State Lands’ office said the property was certified in 2000, sold in 2009 after notice was sent, and that excess proceeds were available for a limited period before escheating to the county. The claimants argued they were not properly notified of the sale or the excess proceeds and only learned of the matter in 2025 after receiving the deed at a family funeral. Committee members discussed the notice process, statute of limitations, and the handling of excess proceeds, with several noting the issue may call for legislative review rather than relief in this case. After debate, the committee voted to affirm the Claims Commission’s dismissal of the Greer/Hayes claim. Members also discussed broader concerns about how excess proceeds from tax sales are handled and whether the current statutory process should be revisited in future legislation.

Transcript Highlights:

• owners.
• So this is our response, saying we can provide a little bit of relief to property owners and help them
• owners.
• owners.
• So this is our response, saying we can provide a little bit of relief to property owners and help them

Summary: Senate Tax Committee members presented a tax omnibus bill they said was a bipartisan effort aimed at making life more affordable and responding to federal policy changes they argued are increasing costs and harming Minnesota families, communities, farmers, and businesses. Chair Rest and other senators described the bill as a response to federal cuts to health care and food support, and said it also complements other Senate action on health and human services. Key provisions highlighted included a 12% increase in property tax refunds for homeowners, described as more than $100 million in direct relief; a $2 million provision related to Operation Metro Transit; a new health care sales tax in Hennepin County to replace an expiring local sales tax and help stabilize hospitals such as HCMC and North Memorial, with funds for uncompensated care and facility upkeep; and a social media tax on the largest platforms, which supporters said would raise revenue without affecting Minnesota residents. Senators also emphasized a sustainable aviation fuel credit, framed as a climate and economic development measure that could support in-state production and agricultural feedstocks. Members also discussed agricultural provisions, including lifting the cap on the beginning farmer tax credit extension and updating homestead-related rules, saying these changes would help farm transitions and reflect current conditions. Another property tax change would increase the market value exclusion for disabled veterans. No formal vote was taken in the transcript, but senators said the bill had been passed to the floor and they were waiting for leadership to schedule it, while noting the House had not yet taken similar action.

Transcript Highlights:

• She's a welder, metal sculptor, and small business owner.
• SHE'S A WELDER, METAL SCULPTOR AND SMALL BUSINESS OWNER.
• owners when we are seeking repairs in these units.
• OWNERS WHEN WE ARE SEEKING REPAIRS IN THESE UNITS.
• who is managing the property.

Summary: The Senate opened with prayer, the Pledge of Allegiance, and approval of the prior day’s journal, then moved through a series of introductions and resolutions recognizing Women’s History Month honorees, Prince Hall Masons and Eastern Stars, Agriculture Week, Pakistan-American Heritage Day, visiting Mercaz Academy students, and the 175th anniversary of Albany Law School. Several senators spoke in support of the commemorations, and each resolution was adopted. The chamber then took up a number of bills on the calendar. Among the measures passed were bills related to insurance, private housing finance, public health, mental hygiene, real property, elder law, public authorities, and environmental conservation. One bill on the Environmental Conservation Law drew a procedural challenge over a proposed amendment; the Chair’s ruling that the amendment was nongermane was upheld by a show of hands, after which the bill passed. Another bill amending the Emergency Tenant Protection Act was debated on the issue of vacant rent-stabilized units and LLC ownership transparency, with supporters saying it would help identify responsible owners and opponents arguing it was too broad and could impose unclear penalties; it ultimately passed. The most extended debate centered on a real property bill concerning electronic rent payment systems and automated clearinghouse fees. Supporters framed it as a transparency measure that lets tenants choose whether to use such systems, while critics questioned how fees would be handled and whether the bill would affect landlord costs. After debate, the bill passed. A public health bill sponsored by Senator Webb also passed after she explained it was intended to improve transparency and oversight of changes to maternity and perinatal services amid concerns about maternal health deserts and hospital closures. The Senate then completed the calendar and adjourned until the next day.

Transcript Highlights:

• Private property in a popularity contest?
• I've never had this drama before, but this is a property rights and a property value situation.
• The property owners filed suit saying that they didn't like the bill we passed.
• I'm a Walton County property owner and have been for over 40 years.
• And if they want to camp out or leave debris on the property or conduct a business on your property,

Summary: The committee first took up CS for Senate Bill 304, which would address child protective investigations involving children with certain genetic or medical conditions that can mimic signs of abuse. Senator Sharif and several family members and advocates described cases in which children were removed after injuries were initially misread as abuse, and argued the bill would give parents more opportunity to obtain qualified medical opinions. The committee adopted a substitute amendment that removed language imposing analysis duties on certain medical professionals, then passed the bill favorably after testimony in support from the Florida chapter of the American Academy of Pediatrics and several affected families. The committee then considered SB 1430 on post-judgment execution proceedings for terrorism victims, SB 96 on relief for Jacob Rogers, SB 382 on affordable housing rent agreements, SB 4 and SB 6 on claims bills for Patricia Armini and Jose Correa, SB 1142 on release of conservation easements, SB 658 on waiver or release of liens, SB 28 and SB 30 on claims involving South Broward Hospital District and the Broward County Sheriff’s Office, SB 24 on relief for Mandy Penny Lemon, SB 72 on campaign funds for child care expenses, and SB 1622 on recreational customary use of beaches. Most of these bills were explained by their sponsors as narrow relief or technical measures, and the committee heard a mix of support and opposition from claimants, local governments, industry groups, and advocacy organizations. Several bills drew substantive debate. On SB 382, members discussed rent stability and whether the bill should better address lease language and future rent increases; the amendment and bill were both reported favorably. On SB 1142, members raised concerns about environmental and drainage impacts and whether releases of conservation easements should be mandatory or discretionary, but the bill still passed favorably. On SB 72, members questioned the scope of allowable campaign child care expenses and the need for stronger guardrails against abuse; the bill nevertheless passed favorably. On SB 1622, testimony sharply divided between supporters of restoring public beach access and opponents defending private property rights; debate continued when the transcript ended, so no final vote on that bill is reflected here.

Transcript Highlights:

• owners, so private property owners that have that commercial property.
• What I thought I heard you mention was risk to the insurers of that commercial property owner and the
• owners?
• owners?
• Drill down one more layer for me and explain. ...private property owners. Help me understand.

Summary: The committee heard a work session on earthquake insurance, beginning with background from the Office of the Insurance Commissioner. OIC staff explained that earthquake and earth movement are generally excluded from standard property policies, that earthquake coverage is usually purchased through endorsements or standalone policies with high deductibles and relatively high premiums, and that surplus lines are a limited backstop market not covered by the state guarantee fund. They also described parametric insurance and captive insurance as more specialized products generally suited to commercial or governmental buyers rather than ordinary consumers. A second panel of insurance and banking experts focused on commercial earthquake exposure, especially for older buildings, collateralized loans, and potential knock-on effects to banks and consumers if a major quake caused widespread damage. Members asked about consumer impacts, mitigation incentives, inventories of vulnerable buildings, and whether legislation such as prior work on unreinforced masonry could help reduce risk. The Washington Bankers Association said earthquake insurance is expensive and that affordability is a major concern, while also noting banks participate in disaster-recovery planning and would be affected by major regional losses. No votes or formal actions were taken. The committee then received a presentation from the Washington State Institute for Public Policy on its cannabis and Initiative 502 research. WSIPP staff described the agency as a nonpartisan research institute that conducts legislative-directed studies and explained that its long-term I-502 assignment includes periodic reports leading to a final benefit-cost evaluation in 2032. Staff summarized findings from a 2023 report showing that cannabis possession convictions fell sharply after legalization, though some racial disproportionalities persisted, and that closer retail access was associated with higher reported adult cannabis use, more fatal traffic crashes involving drivers from nearby areas, and higher rates of cannabis use disorder diagnoses among Medicaid enrollees. A 2023 youth-focused report found that students attending schools near retailers were more likely to report cannabis use, had more unexcused absences, and were less likely to graduate on time. In the newest 2025 Medicaid study, staff said retail access was associated with higher probabilities of cannabis use disorder diagnoses, related hospitalizations, inpatient treatment, and co-occurring mental health diagnoses, with event-study analysis suggesting the increases appeared after retailers opened rather than before. Members asked about racial disproportionality, the meaning of cannabis use disorder diagnoses, THC and impairment, whether the findings reflected medical versus recreational use, and how the results should be interpreted in light of broader trends and data limitations. No formal committee action was taken.

Transcript Highlights:

• IN WHICH THE OWNER MAINTAINS A PERMANENT RESIDENCE.
• CHAIRMAN, BECAUSE 100 PERCENT OF THE COST OF DEVELOPING ADUS ARE PAID FOR BY THE PROPERTY OWNERS.
• AND RETURN THOSE OWNERS GAIN PASSIVE INCOME AND INCREASE AND CAN INCREASE THEIR PROPERTY VALUES.
• MY SUSPICION US IF YOU HAD A PROPERTY OWNER WHO WAS GOING TO BUILD IN ADU AND PARKING WAS A PROBLEM UNTIL
• THE OWNER HAS TO SUBMIT AN ATTESTATION TO THAT EFFECT.

Transcript Highlights:

• ,</c> truckers, sawmills, and uh land owners, truckers, sawmills, and uh land owners, but<00:45:07.920
• </c> Dupri does own those properties also. Dupri does own those properties also.
• Uh, that's a property right, and that property right does transfer with the property.
• would</c><01:50:00.800><c> be</c> the owner of the property would be the owner of the property would
• If the land owner sells and the new land owner says, "I don't want the sign on my property.

Committee: House Public Works and Highways

Summary: The committee first heard Senate Bill 497, a technical correction to last year’s capital budget. Shannon Reid of the Community College System of New Hampshire explained that the bill removes leftover state-agency boilerplate from a repurposed capital appropriation and replaces it with community college language, without changing any dollar amounts. She also described a requested amendment to rename a respiratory therapy renovation appropriation at Nashua Community College as an allied health instructional center, so the space can be used more flexibly for programs such as phlebotomy, radiologic technology, and LNA training. Terry Poff of the General Court then testified on the second part of the bill, which changes legislative space references to support the move of General Court offices from the second floor to the fourth floor of the annex as part of the legislative office building reconfiguration. Members asked whether the community college changes affected funding, and Reid confirmed the amounts do not change and that the bill simply speeds up a correction that otherwise would have been handled later in the lapse process. Poff said the annex space change is part of a permanent transition, though the work cannot proceed until the General Court has legal control of the space. The committee then entered executive session, adopted Amendment 1031H on a 12-0 vote, and voted ought to pass as amended on SB 497 by a 12-0 vote, with several members absent. The bill was placed on the consent calendar. The committee next opened a hearing on Senate Bill 529FN, which would give preference to lumber sourced in the United States on state-funded building projects. Representative Davis, introducing the bill for Senator Roachford, argued that New Hampshire timber is disadvantaged by grading rules that treat U.S. lumber differently from Canadian SPF lumber, even when the wood is from similar species and climates. He said the bill is intended to support New Hampshire’s timber industry and that architects and engineers would still be able to specify stronger materials when needed. Committee members questioned whether the bill should instead refer specifically to New Hampshire lumber, how it would be enforced, and what the cost impact would be. Davis and later witness Mike Olette said the issue is tied to industry grading standards rather than a government code, that the bill is meant to create a preference rather than a mandate, and that price differences are hard to pin down because lumber is a commodity. Olette, who lives near the border, testified that New Hampshire logs are often sent to Canada for milling and then return under a different grade, which he said puts New Hampshire loggers and mills at an economic disadvantage.

Transcript Highlights:

• owners, so private property owners that have that commercial property.
• What I thought I heard you mention was risk to the insurers of that commercial property owner and the
• owners?
• owners?
• Private property owners. Help me understand.

Committee: House Consumer Protection & Business

Summary: The committee held a work session on earthquake insurance and later on Washington State Institute for Public Policy (WSIPP) cannabis and I-502 research. The Office of the Insurance Commissioner explained that earthquake coverage is usually excluded from standard property policies, is expensive, and often carries very high deductibles. Staff also described admitted versus surplus line insurers, and introduced parametric insurance and captive insurance as specialized risk-transfer tools mainly used by commercial and sophisticated buyers. OIC data showed about 226,000 admitted earthquake policies in 2023, with most personal policies concentrated in the Puget Sound and Vancouver areas and commercial endorsements more broadly distributed. A second panel, including insurance and banking representatives, focused on potential catastrophic earthquake exposure for commercial buildings and collateralized loans. They argued that many commercial properties may lack earthquake coverage, leaving banks and the broader economy exposed if owners default or surrender damaged properties after a major quake. They discussed the Nisqually earthquake, the Cascadia subduction zone, building age, soil and slope conditions, retrofit standards, pollution remediation, and the need for property resilience assessments and inventories of vulnerable buildings. Members asked about consumer impacts, affordability, education, and whether legislation like prior work on unreinforced masonry buildings could help reduce risk; the Washington Bankers Association said earthquake insurance is costly and that affordability is a major concern. Committee members also discussed inventories and risk assessment efforts, including state geologist work on school buildings and whether similar approaches could be extended to nearby private structures. The presenters said banks likely have good inventories of their collateral but may not know which properties are most vulnerable to earthquake damage. The discussion ended with a request for follow-up information on consumer education and disaster planning resources. WSIPP then presented its long-running evaluation of Initiative 502 and cannabis legalization. Staff explained WSIPP’s nonpartisan role and its legislatively directed 20-year study, with final benefit-cost work due in 2032. The presentation summarized prior findings that cannabis misdemeanor convictions dropped sharply after legalization, though racial disproportionalities persisted at lower absolute levels. WSIPP also reported that shorter drive times to cannabis retailers were associated with higher reported adult cannabis use, more fatal traffic crashes involving local drivers, higher THC-positive rates among blood-tested crash drivers, and higher cannabis use disorder diagnoses and co-occurring substance use disorder diagnoses among Medicaid enrollees. For high school students, nearby retail access was associated with more reported use, more unexcused absences, and a lower likelihood of graduating on time. In the newest 2025 Medicaid study, WSIPP said retailer openings were associated with higher cannabis use disorder diagnoses, hospitalizations, inpatient treatment, and co-occurring mental health diagnoses, while emphasizing that the analyses show associations rather than direct causation and that results are specific to Medicaid enrollees.

Transcript Highlights:

• for four years after a property owner prevails in a property tax appeal unless there is a change in
• use. ...unless there is a change in use or ownership of the property, a property split, or a taxable
• improvement to the property.
• inspections and provide inspection reports to property owners.
• Additionally, it exempts the specified agricultural property... ...reports to property owners.

Transcript Highlights:

• If you are a current property owner and you want to have some access to capital now, like you want to
• And in the end, the property owner doesn't own the property anymore but also owes nothing.
• owner and you want to um have property owner and you want to um have some<01:29:02.000><c> access</c
• </c><01:29:46.719><c> owner</c> basically the it allows a property owner basically the it allows a property
• </c><01:30:01.760><c> property</c> property owner doesn't own the property property owner doesn't own

Summary: The meeting began with roll call and approval of the prior meeting minutes, which passed unanimously. Members then introduced the day’s presentations, including one on the Canton network and another on tokenizing real-world assets, with a focus on how blockchain systems can support regulated financial institutions and asset tokenization. Julie, the director of policy and government affairs at Digital Asset, presented on the Canton network, describing it as a privacy-enabled public blockchain designed for regulated finance. She said tokenization should preserve the same legal and economic rights as the underlying asset, and argued that blockchain-based books and records can shorten settlement times, improve 24/7 trading, and reduce friction in capital markets. She identified three main barriers to institutional adoption of public blockchains: lack of privacy, limited throughput/scalability, and lack of control for compliance purposes such as freezing assets, pausing transactions, and meeting AML/sanctions obligations. She explained Canton’s structure as a public, permissionless network with application-level privacy controls, a global synchronizer, and super validators chosen by vote. She also highlighted current ecosystem participants and use cases, including Broadridge, Circle, and the DTCC’s planned tokenization of U.S. Treasuries on the network. Members and online participants asked about the relationship between tokenized assets and the Clarity Act, tokenized deposits, safeguards for faster settlement, and whether the platform could be used for municipal or property records. Julie said Digital Asset was not taking a position on rewards, but supported clearer statutory definitions because tokenized securities should carry the same rights as the underlying assets and investors need to know whether a token is a true tokenized security or a synthetic/reference token. She said the company is agnostic on whether the cash leg is stablecoins or tokenized deposits, though it expects both to develop. In response to concerns about rapid settlement, she pointed to institution-level permissions and SEC disclosure expectations as safeguards. She also said the technology could be used for other records, including potentially property-related records, if those assets can be tokenized.

Transcript Highlights:

• Uh, that's a property right, and that property right does transfer with the property, and if somebody
• Uh, that's a property right, and that property right does transfer with the property, and if somebody
• Uh, that's a property right, and that property right does transfer with the property, and if somebody
• </c><01:50:59.119><c> owner</c><01:50:59.520><c> wanted</c><01:50:59.920><c> to</c> the current property
• owner wanted to the current property owner wanted to that<01:51:00.480><c> to</c><01:51:00.719><c> cease

Committee: House Public Works and Highways

Transcript Highlights:

• and condominium owners who are Homeowners and condominium owners who are paying these excessive high
• </c><01:04:56.119><c> tax</c> the bill would provide property tax the bill would provide property tax
• owner.
• owner.
• </c><01:07:38.000><c> support</c> the property owner um I firmly support the property owner um I firmly

Committee: House Taxes

Transcript Highlights:

• In addition, the Somerville bill exempts owner-occupied properties on either side, so it favors real
• In addition, the Somerville provision exempting owner-occupied properties, I think I already said that
• property transfers, $1.44 million for non-owner-occupied property transfers and a much more modest $33,500
• for property transfers on owner-occupied homes above 200% median assessed value, or $731,000.
• All property owners are contributing to this housing need.

Committee: Joint Joint Committee on Revenue

Summary: The Joint Committee on Revenue held a public hearing on a series of bills focused largely on local-option real estate transfer fees and housing funding tools for communities facing severe affordability pressures. Testimony strongly favored bills for Somerville, Concord, Martha’s Vineyard, Nantucket, Chatham, and a statewide local-option transfer fee, with speakers arguing that high-end real estate transactions should help fund affordable housing, anti-displacement efforts, workforce housing, and related capital improvements. Elected officials and local housing leaders described rising rents and home prices, investor activity, shrinking year-round housing stock, and difficulty recruiting or retaining teachers, police, health care workers, and other essential employees. Several witnesses emphasized that the proposals would be optional for municipalities, could include exemptions for first-time homebuyers or seniors, and would direct revenue into local affordable housing trust funds or housing banks. Committee members asked questions about who would pay the fee and whether it could make housing less affordable, and supporters responded that the fees would be targeted at higher-value transactions and designed with local flexibility. For Somerville, the delegation and Mayor Katjana Ballantyne backed both a local home rule petition and statewide enabling legislation, saying the city has already used zoning reform, inclusionary zoning, and local housing funds but still needs a new revenue source to address displacement and investor-driven purchases. For Concord, Representative Carmine Gentile and Concord housing advocates supported a home rule petition and the statewide bill, arguing that a modest fee on sales above $1 million could generate predictable revenue for affordable housing production and preservation. One committee exchange focused on whether the fee would affect most Concord sales and whether it would be passed on to buyers; supporters said the policy was intended to shift costs toward higher-value properties and help leverage other funding sources. The committee also heard testimony on House 4105, which would redirect a casino-related revenue stream to the Healthy Incentives Program. Farmers, advocates, and residents said the current funding was originally intended to support horse racing but has not met that goal, and that the money would be better used to support Massachusetts farmers and food-insecure residents through HIP. In a separate bill, Senator Becca Rausch testified in support of Senate 268, which would create a state-level hostile learning environment complaint process for higher education institutions and potentially strip tax exemptions from colleges or universities found to have such environments; she cited anti-Semitic and transphobic incidents on campuses and argued that existing federal protections should be mirrored in state law. The hearing also included testimony on college tuition debt reduction legislation from Senator Michael Moore, who said the bill would allow a deduction for tuition and fees paid to Massachusetts public colleges and universities to ease student debt and support the state’s workforce. A major portion of the hearing focused on Martha’s Vineyard and Nantucket housing bank proposals. Hospital, school, housing, planning, and municipal officials from Martha’s Vineyard said the island’s year-round housing shortage is harming health care, schools, and the local workforce, and urged approval of a housing bank funded by a local-option transfer fee. Nantucket witnesses made similar arguments, pointing to a very high median home price, a large seasonal housing stock, and the need for a dedicated revenue stream to preserve and create year-round housing. Supporters repeatedly cited the long-running success of the islands’ land banks as evidence that transfer fees can work without harming real estate markets. Senator Julian Cyr and Representative Thomas Moakley Luddy also backed the Cape and Islands transfer-fee bills, saying the region needs bold action and a sustainable local funding source to address its housing crisis.

Transcript Highlights:

• by the property owner.
• by the property owner.
• The property owner agrees to pay all fees associated with connection, including fees for infrastructure
• requirements to serve the property.
• owner believes that the requirements were met, the owner may bring a civil action to enforce this subsection

Summary: The Senate convened with a quorum, opening prayer, Pledge of Allegiance, and a doctor of the day announcement. Members also observed a moment of silence for former Senator Charlie Dean, with tributes offered to his service and family. Several introductions were made, including guests in the gallery and visiting students. On the special order calendar, the Senate temporarily postponed bills on Citizens Property Insurance, artificial intelligence, public records, and data centers, then took up and passed several measures. SB 198/HB 505 on virtual currency kiosks was substituted to the House bill, amended to adopt the Senate language, and passed 37-0 to address fraud, registration, transaction limits, warnings, receipts, and refunds for scam victims. SB 382 on electric bicycles passed 37-0 after amendment to broaden the task force to micro-mobility devices and collect crash data. SB 844 on sickle cell disease continuing education passed 37-0, requiring one-time board-approved training for certain licensed health professionals. SB 1014 on municipal utility service outside city limits passed 37-0, prohibiting cities from denying water or wastewater service solely because an owner refuses annexation, subject to service and funding conditions. The Senate also passed SB 428 on the swimming lesson voucher program by 36-0 after amendments expanding eligibility to ages 1 through 7 and adding postpartum drowning-prevention education and safe bathing guidance. SB 540 on the Office of Financial Regulation passed 36-0, creating cybersecurity program and oversight requirements for certain financial licensees and clarifying anti-money-laundering enforcement. SB 1440 on public records passed 35-1 after technical amendments, extending cybersecurity-related public records exemptions and reporting provisions. SB 1594 on veteran benefit payments to minor clients passed 36-0, directing benefits received on behalf of foster youth toward post-secondary education or aftercare rather than agency reimbursement. At the end of the session, the Rules Chair moved to waive rules so all bills passed that day would be immediately certified to the House and the postponed bills would remain on the special order calendar; both motions were adopted. The Senate then adjourned until the next morning for committee meetings and other business.

Transcript Highlights:

• The commissioner feels it's only fair that when a property owner is being evaluated by these models and
• We believe it is in the best interest of both the property owner and the insurance company to share the
• We believe it is in the best interest of both the property owner and the insurance company to share the
• Generally, we believe it's important for owners to have an opportunity to understand how their property
• Overall, we support opportunities that give property owners additional resources to better protect their

Bills: SB5928

Committee: Senate Business, Trade & Economic Development

Keywords: wildfire risk, disclosure, safety, environmental policy, risk assessment