Video & Transcript : 'security interest' :
Page 73 of 500
ND
North Dakota 2025-2026 Regular Session
Government Finance Committee Jun 25th, 2026
Transcript Highlights:
- Security Council in D.C.
- From a security standpoint, a fence doesn't provide much security if it only covers half of the structure
- So the idea is to have a way out of rooms for security. And room hallways would be totally secure.
- And those would be all secure access again.
- And those would be all secure access again.
Summary:
The committee began with roll call, introductions of a new fiscal analyst and a new member, and approval of the March 19 minutes. The first major presentation was from the Office of Management and Budget on the state’s general fund and special fund status through May. OMB reported general fund revenues were running below the legislative forecast by about $76 million, driven largely by weaker individual income tax and sales tax collections, though the projected ending balance remained positive and above the budgeted level. The budget stabilization fund was above its cap and would transfer excess earnings to the general fund, and the legacy fund balance continued to grow. Members also asked about federal funding uncertainty and mineral leasing revenue variability.
The committee then reviewed compliance reports and trust fund analyses, followed by discussion of a bill draft for the fixed-route city transportation network study. The draft would create a $15 million general fund grant program with a formula-based distribution to eligible fixed-route transit cities, intended to support operating and capital needs and help match federal transit funds. Transit officials from Minot and Fargo testified in support, explaining local fare and match structures and the difficulty of replacing aging buses and securing federal matching dollars. Several members questioned whether the program should be limited to the current four cities or broadened to future eligible urban areas, and whether local funding sources should be explored further. The committee did not finalize the bill draft at that point and planned to continue discussion at a later meeting.
The committee also approved a bill draft repealing obsolete language related to approval of a bi-state authority with South Dakota, after staff explained that no agreements had ever been implemented and the provision appeared outdated. A roll call vote was taken and the motion carried. Later, the Department of Commerce and the Northern Plains UAS Test Site presented updates on uncrewed aircraft systems initiatives, including the Vantis radar data enclave, the drone replacement program, and efforts to build a revenue model for Vantis. Test site officials said FAA approval had been secured for the radar data program, replacement of noncompliant drones was underway, and future revenue could come from state and external users once pricing and intellectual property arrangements are finalized. Members asked about Chinese-made drones, supply chain issues, automation, and how the system would manage beyond-visual-line-of-sight operations.
The Department of Corrections and Rehabilitation then presented on the design of a new minimum-security prison and a reentry housing study. Officials said the proposed facility would relocate the minimum-security prison to the penitentiary campus, reduce costs from an earlier estimate, and provide more beds and programming space, with construction potentially beginning in 2027 and opening around 2031. They also described staffing needs, the planned move of women to the New England facility, and possible expansion of men’s housing there. The parole and probation chief described a reentry housing task force studying housing needs for people leaving incarceration, with a goal of developing data-driven recommendations for subsidies and support services; a representative from Protection and Advocacy closed by expressing general support for fixed-route and paratransit funding.
MN
Minnesota 2025-2026 Regular Session
House Public Safety Finance and Policy Committee 3/26/34
Public Safety Finance and Policy
Transcript Highlights:
- I have no interest in arguing for the status quo.
- risk um I just I simply being a security risk um I just I simply reject<00:16:15.880><c> that</c><00
- And then the other question, um, I was really interested—you said that you were looking at a study on
- It feels like maybe I will be interested to get input from testifiers about your question.
- </c><01:24:39.480><c> staff</c> in a prison without security staff in a prison without security staff
Committee:
House Public Safety Finance and Policy
TX
Transcript Highlights:
- But because of those security issues, we can only bring. does an amazing job bringing the security with
- Maximum security, but also on our non-maximum security, there is a search process for ingress and egress
- So for them to work security jobs, they would have to have a private security license. Okay.
- jobs, just pure security.
- And even going back to 1702 with the private securities, a lot of these private security companies are
Committee:
Senate Criminal Justice
CA
California 2025-2026 Regular Session
Senate Budget and Fiscal Review Committee Feb 17th, 2026
Budget and Fiscal Review
Transcript Highlights:
- And it will be particularly interesting to see how the voters react to the tax measure.
- What is the rationale for having two years of interest-only payments?
- It is tied to our state system for interest. What is it, the pooled money account?
- And what's the interest that we're expecting to? Well, that interest rate does vary.
- Is it really secure? Are there enough security members?
Committee:
Senate Budget and Fiscal Review
Summary:
The Senate Budget and Fiscal Review Committee heard two measures: AB 107, a budget bill junior making largely technical changes to the 2023, 2024, and 2025 budget acts, and AB 117, a trailer bill authorizing a $590 million loan structure to support four Bay Area transit agencies through the Metropolitan Transportation Commission using unallocated Transit and Intercity Rail Capital Program funds. Finance explained AB 107 included technical fixes such as extending encumbrance periods, updating federal authority, correcting fiscal language, moving $20 million for California travel promotion from Visit California to GoBiz, and adding an APA exemption for implementation of already-approved climate bond programs. AB 117 was described as a cost-neutral regional solution with a 12-year loan term, two years interest-only, and repayment secured through existing state transit funding streams, with oversight by CalSTA, CTC, and MTC to limit impacts on other projects.
Members raised concerns about transparency, competitive bidding, and whether APA exemptions and no-bid or emergency processes could reduce oversight, while supporters argued the exemptions were needed to get voter-approved climate and wildfire-related funds out the door. On AB 117, senators questioned whether the loan could become a de facto bailout if a Bay Area sales tax measure fails, whether post-pandemic ridership declines and safety/fare-evasion issues are temporary or structural, and whether the loan could jeopardize TIRCP-funded capital projects such as BART Phase 2. Transit agencies and local representatives testified in support, saying ridership is recovering, the loan is critical to avoid service cuts, and the Bay Area economy depends on transit stability.
The committee first passed AB 107 on a 9-4 vote and AB 117 on a 9-4 vote, then held both bills on call. After recess, absent members returned and both measures were lifted from call and passed with 11 votes each. The committee then adjourned.
CA
California 2025-2026 Regular Session
Senate Budget and Fiscal Review Committee Feb 17th, 2026
Budget and Fiscal Review
Transcript Highlights:
- “And it will be particularly interesting to see how the voters react to the tax measure.
- What is the rationale for having two years of interest-only payments?
- It is tied to our state system for interest. What is it, the pooled money account?
- And what's the interest that we're expecting to? Well, that interest rate does vary.
- Is it really secure? Are there enough security members?
Committee:
Senate Budget and Fiscal Review
ND
North Dakota 2025-2026 Regular Session
Budget Section Leadership Division Jun 24th, 2026
Transcript Highlights:
- And they got so much more gas than oil that it'll be interesting.
- For certain auto loan interest.
- Auto loan interest, really small.
- There was a $2.35 million appropriation for security enhancements there.
- For the fence itself, there will also be some security upgrades.
Summary:
The Budget Section Leadership Division met with a quorum present and approved the March 18 minutes. The committee first heard an update from the Petroleum Council on oil and gas activity, which described North Dakota production as holding steady around 1.1 to 1.2 million barrels per day despite lower prices and market volatility. The presentation emphasized that efficiency gains, longer laterals, and improved completion technology are allowing operators to sustain output while activity shifts north in the Bakken. Members asked about gas taxation, natural gas liquids, flaring, and enhanced oil recovery; the witness said gas is taxed by volume, most liquids are handled through oil lines or gas processing, and the state’s EOR pilot projects and new gas infrastructure are intended to help hold production flat and expand future recovery.
The committee then received a presentation from the Tax Department on the federal “big beautiful bill” and its effect on North Dakota income tax collections. The department explained that most of the federal changes were extensions of existing Tax Cuts and Jobs Act provisions, but several items — including the larger standard deduction, senior deduction, tip and overtime exclusions, auto loan interest deduction, and business expensing changes — affect state collections. Revised estimates showed a smaller-than-expected impact on individual income tax, with the department suggesting a net cash effect in the range of roughly $30 million to $35 million when business and individual effects are combined, plus a possible one-time distortion from large oil-field transactions in fiscal year 2025. Members asked which provisions apply to standard versus itemized returns, and the department clarified that most of the individual provisions apply broadly, while the SALT-related item is itemizer-specific.
OMB then reported on major capital projects and facility funding. Updates included Capitol grounds improvements such as 18th-floor renovations, wayfinding, augmented reality displays for the Rough Rider Hall of Fame, tree management and lighting studies, and restroom and parking reconfiguration in the tower. OMB also described security upgrades at the governor’s residence, where human remains were discovered on site and are being handled with historical and legal review. The state hospital project in Jamestown remains on schedule for substantial completion in winter 2027 and opening in spring 2028, with costs currently estimated a little over $292 million and a line of credit expected to be drawn in April 2027. The North Central State Office Building in Minot is under construction, with a $5.6 million line of credit already accessed. OMB also reported on the State Facility Maintenance Fund, noting about $1.1 million spent so far on projects such as the Liberty Memorial Building roof and foundation work, Capitol window replacement, boiler replacement, and kitchen remodeling.
Finally, Legislative Council staff reviewed the interim compliance report on legislative intent and state trust funds. The report highlighted the status of multiple lines of credit, including those for the state hospital and Minot office building, and noted that the executive budget will likely need to include repayment planning for about $350 million of expected outstanding balances. Other updates included the Bank of North Dakota profit transfer schedule, litigation pool spending, the new Office of Guardianship and Conservatorship, the Missouri River Correctional Center planning effort, HHS items such as FMAP and child care assistance, Job Service’s unemployment insurance modernization project, and DPI school aid turnback estimates. No formal votes were taken beyond approval of the minutes.
FL
Transcript Highlights:
- unpaid signature verifications, then used to secure the bond before paying a circulator.
- If I spark an interest.
- It's an attempt to silence the people in favor of corporate and special interests.
- There’s a lot of talk about outside corporate interests, out of state, but it’s the corporate interest
- believe it’s internal corporate interests.
Committee:
Senate Ethics and Elections
Summary:
The Senate Committee on Ethics and Elections met to consider SPB 7016, a major bill revising Florida’s constitutional initiative petition process. Senator Grall presented it as a fraud-prevention and ballot-integrity measure that would add sponsor training, stricter circulator rules, more voter identification information, faster submission deadlines, notice to voters whose signatures are verified, and additional civil and criminal penalties. The committee also considered several amendments, including a $1 million bond requirement, font and page limits for petition forms, restrictions on incentive-based circulator pay, removal of a criminal-conviction prerequisite for certain fines, deposit and reimbursement procedures for supervisors of elections, invalidation of petitions gathered by ineligible circulators, mandatory circulator training, and a prohibition on public funds being used to advocate for or against constitutional amendments. All of the amendments were adopted, with some roll-call votes recorded and most passing on party-line or near party-line splits.
The bill drew extensive questioning from senators, especially about the practical effects of the new requirements. Senator Polsky and Senator Rouson raised concerns about disenfranchising voters, burdening grassroots volunteers, the cost of bonds and deposits, the 10-day return deadline, and whether voters would be notified if a petition they signed was later invalidated. Grall said the measures were intended to protect the constitutionally significant initiative process, reduce fraud, and ensure sponsors—not taxpayers—bear administrative costs. Dave Ramba, speaking for supervisors of elections, supported the deposit and reimbursement concepts but warned that the bill’s implementation would be operationally difficult and that software vendors might not be ready for the changes by the effective date. He also said the process should avoid subsidizing petition drives with county taxpayer money.
Public testimony was overwhelmingly opposed, with speakers from Common Cause Florida, the League of Women Voters, the NAACP Florida State Conference, Florida Rising, Equal Ground, Voices of Florida, and other civic groups arguing the bill would suppress direct democracy, criminalize volunteer activity, impose excessive costs, and create confusion and litigation risk. One speaker from the Florida Chamber of Commerce supported the bill, saying the initiative process should be protected from fraud and outside interests. During debate, Senator Polsky argued the Legislature has steadily made the initiative process harder after recent citizen-led amendments succeeded, while supporters framed the bill as a necessary integrity measure. The committee had not yet taken final action on the bill itself by the end of the transcript.
TX
Transcript Highlights:
- Ed Johnson, also here with the Harris County Ballot Security Committee.
- Security. This is very important.
- Ed Johnson with the Harris County Ballot Security and definitely for this bill.
- and is secure.
- It's good to keep all the election equipment secure, you know.
Bills:
SB801 , SB1200 , SB1410 , SB1717 , SB1862 , SB1863 , SB2216 , SB2681 , SB506 , SB2626 , SJR63 , SB 3
Committee:
Senate State Affairs
NH
New Hampshire 2025 Regular Session
House Finance Division I (02/26/2025)
Transcript Highlights:
- </c><00:04:15.879><c> on</c> the state's investments in interests on the state's investments in interests
- </c> overtime to meet our security overtime to meet our security requirements<00:39:23.960><c> for</c
- because interest rates were higher.
- Interesting. Okay, yeah.
- There's certain security requirements, or securities, that we want to see or that the statute wants to
Summary:
The meeting began with testimony from Charlotte Harding of the Conservation Land Stewardship Program, who explained that the office protects the state’s interests in conservation lands by monitoring conservation easements and related stewardship obligations. She described the program’s funding sources: a land conservation endowment held at the State Treasury and administered by the Council on Resources and Development, plus transfers from Fish and Game for easements not covered by the endowment. Members discussed how the endowment is funded when new easements are created, the program’s staffing, the loss of a state vehicle, and the need to increase in-state travel so staff can use personal vehicles for field monitoring. Harding said the office has two full-time positions and a seasonal employee, that the work is mostly monitoring rather than hands-on land management, and that enforcement issues are referred to the grantee agencies or, if needed, to the Council on Resources and Development. She also noted that the office works directly with landowners to resolve smaller issues and that stewardship has become a greater focus in the conservation community because ongoing oversight requires funding. Members asked about examples of properties under the program, including LCIP lands such as Musquash Headwaters, Hidden Valley Boy Scout Camp, and Nash Stream, and the committee did not take a motion before moving on.
The committee then heard from Paul Breen and Susie Anzelone of the Pease Development Authority regarding the Division of Ports and Harbors operating budget. They explained that the authority provides finance, legal, environmental, and engineering support to the division, which operates New Hampshire’s only deep-water berth at Market Street, as well as facilities in Hampton, Rye, the Portsmouth Fish Pier, and navigational waters in the Piscataqua and Great Bay. They described the authority’s history after the closure of Pease Air Force Base, the transfer of roughly 2,400 acres, and the creation of a self-sustaining enterprise fund tied to airport and port operations. They emphasized that the division does not draw on the general fund because revenues from wharfage, dockage, parking, registration, and mooring fees cover operating costs, with any surplus retained for capital improvements and replacement.
Members questioned several budget lines, including a sharp increase in overtime and workers’ compensation. Breen said overtime is driven largely by security needs at the deep-water port and fluctuates with vessel traffic, such as salt shipments, while workers’ comp is a DAS-set cost and not something the division controls. He said the budget is conservative and that if revenues fall short, capital projects would be the first items scaled back. The discussion also covered fee-setting, with Breen saying rates are reviewed against the local market and infrastructure constraints, and that some smaller facility fees had recently been increased after being stagnant for years.
FL
Florida 2026 5th Special Session
Fiscal Policy Apr 8th, 2025
Transcript Highlights:
- They would sign that and return it to the Office of Election Crimes and Security. And..."
- "They would sign that and return it to the Office of Election Crimes and Security.
- Enables corporate interests on this one. Appreciate it.
- So put the people over the corporate interests. governor.
- So put the people over the corporate interests. Even more so.
Summary:
The committee first took up CS for CS for CS for SB 462 on transportation. A substitute amendment was adopted that would require counties receiving transportation surtax proceeds to report how the money is used to the Office of Economic and Demographic Research, prohibit certain airport fees tied to collegiate aviation flight training, create a Sarasota-Manatee Airport Authority pilot program, and dedicate $10 million annually for a traffic signal modernization program. The amendment also removed several provisions from the bill, including a sales-tax transfer to the State Transportation Trust Fund, a bid-protest-related contracting requirement, and repeal of the Metropolitan Planning Organization Advisory Council. A late-filed amendment was tabled, and the bill was reported favorably. The committee then heard CS for CS for CS for SB 628, Lucy’s Law, which strengthens boating safety penalties for leaving the scene of a vessel accident and reckless operation. After the sponsor withdrew a pending amendment, the committee heard emotional testimony from Lucy’s parents and others in support, and the bill was reported favorably.
The committee next considered CS for CS for SB 700, the Florida Farm Bill, under a strike-all amendment. The bill’s major provisions included removing non-purity additives from public water systems, requiring clearer labeling for meat, milk, poultry, and eggs, criminalizing drone harassment over farmland, updating agriculture disaster recovery programs, creating an honest services registry for charities tied to countries of concern, expanding FFA-related scholarships and school infrastructure, and allowing the state to repurchase certain former agricultural lands converted to solar fields. Testimony included strong support from agriculture and related groups, opposition from the Florida Bankers Association over a private right of action related to financial discrimination, and criticism from speakers opposed to fluoride removal. The bill was amended and then reported favorably despite some opposition. The committee also reported favorably SB 796, which authorizes DEP general permits for distributed wastewater treatment systems to replace failing septic tanks.
The committee then took up a large strike-all for CS for SB 1618, a K-20 education package. The amendment combined provisions on VPK flexibility, early grade success, agriculture education, financial literacy, reading intervention, teacher assignment transparency, restrictions on spending public funds for political or social activism, emergency opioid antagonists, corporal punishment consent, teacher certification pathways, and other higher-education and workforce items from SB 1624, including guardrails for certain private religious postsecondary institutions. Members questioned the new prohibition on using public funds for political or social activism, with the sponsor saying it was intended to keep public schools from being a battleground for ideology; Equality Florida and the ACLU opposed that section. The amendment was adopted and the bill was reported favorably.
Finally, the committee began extensive debate on CS for SB 7016, a major initiative-petition reform bill. The sponsors said the bill responds to fraud and abuse documented in a large Office of Election Crimes and Security report and would impose tighter rules on petition circulators, including Florida residency and U.S. citizenship requirements, training, shorter submission deadlines, stronger penalties, new identification requirements on petitions, and a 25% invalid-signature trigger for investigations by election-crimes officials. Senators raised numerous questions about due process, public records, penalties, the treatment of volunteers and former felons, the verification process, and the practical effect of the new deadlines and thresholds. The discussion was ongoing when the transcript ended, and no final vote on SB 7016 is shown in the excerpt.
WA
Washington 2025-2026 Regular Session
House Agriculture & Natural Resources Jan 13th, 2026
Transcript Highlights:
- People also viewed their interests, as far as the water purveyors' interest, being better aligned with
- Avoided wildfire emissions is an interesting one.
- Avoided wildfire emissions is an interesting one.
- Interesting one. It involves trading credits for reducing wildfire risk.
- I found it very interesting.
Summary:
The House Agriculture and Natural Resources Committee opened its 2026 session with committee housekeeping, member introductions, and a reminder that schedules are set a week in advance and amendments must be submitted by the prior day’s deadlines. Chair Reeves emphasized solution-oriented, collaborative, and respectful participation, then outlined that the committee would focus on three interim reports relevant to its work this session: municipal water efficiency, ecosystem services, and food policy.
The first presentation, from the William D. Ruckelshaus Center and WSU, reviewed Washington’s municipal water efficiency statute and regulation. Presenters said interviewees largely agreed on the need for better data collection, more technical assistance for smaller systems, and more state funding for both agency staffing and water system infrastructure. Most opposed shifting oversight of the conservation program from the Department of Health to Ecology, and the report recommended keeping oversight at DOH while improving collaboration across agencies and tribes. The presenters also urged broader statewide water planning, more consistent reporting using the AWWA water audit method instead of leakage percentage, re-evaluating the 500-connection threshold, and addressing outdoor water use, rebates, reuse, and public education. Members asked about creating a new office for water oversight, but the presenters said that idea was generally viewed as too costly and impractical under current budget conditions.
DNR then presented its 2025 ecosystem services work group report. The department described ecosystem services markets it studied, including regulatory and voluntary forest carbon, avoided wildfire emissions, and water leasing, with lower potential identified for blue carbon, biodiversity, and water quality markets. DNR said about 15,000 acres of state forest land may have carbon-market potential, but emphasized that the analysis was broad and not project-specific, so the report recommends pilots, continued market monitoring, use of third-party developers, and clarification of authority through House Bill 2170. Committee members asked about economic feasibility, timber tradeoffs, and how success would be defined, and DNR said those questions would be better addressed in future, more detailed project-level work.
The final presentation covered the Food Policy Forum’s 2025 report to the legislature. Speakers described broad consensus recommendations on food security, local foods in schools, farm-to-food-bank programs, a state farm bill, commercial access, and food system infrastructure. They highlighted pressures on agriculture from development, flooding, drought, water shortages, and the need to preserve farmland and support farmers, food banks, and local procurement systems. The committee chair thanked the presenters and noted that several related bills and policy proposals would be heard later in session. No votes were taken; the meeting concluded after the presentations and brief member questions.
ID
Transcript Highlights:
- We do broader energy things as well as national security.
- purposes, such as secure power on domestic bases and other things.
- This is such as secure power on domestic basis and other things.
- So it's kind of interesting, nuclear for AI and AI for nuclear.
- So that provides low-interest, secure dollars for these nuclear companies to be able to move forward.
Committee:
House Environment, Energy and Technology
CA
California 2025-2026 Regular Session
Assembly Banking and Finance Committee Jun 8th, 2026
Banking and Finance
Transcript Highlights:
- that what a lot of crypto is is an unregistered security.
- Because they are worried that what a lot of crypto is is an unregistered security.
- Because they are worried that what a lot of crypto is is an unregistered security.
- You know, it behaves as a security.
- So that is the beauty of security, is being able to backtrack and find the original source.
Committee:
House Banking and Finance
CA
Transcript Highlights:
- secure, is critically important.
- Chair. safe and secure is critically important. It's home for me.
- The debt can grow rapidly because of the 10% interest rate.
- The debt can grow rapidly because of the 10% interest rate.
- Every month, child support garnished $50 from my Social Security.
Committee:
Senate Judiciary
ND
North Dakota 2026 1st Special Session
Information Technology Committee Jul 8th, 2026 at 10:00 am
Information Technology Committee
Transcript Highlights:
- I'm the chief information security officer for the state of North Dakota.
- From a security aspect, it has to be done, right?
- So, I mean, there's, but from a security aspect, it has to be done, right?
- interest to come up and say a few words.
- But it is interesting. And, yeah. No. But it is interesting.
Committee:
Joint Information Technology Committee
NM
New Mexico 2025 Regular Session
IC - Water and Natural Resources Sep 12th, 2025
Water & Natural Resources Committee
Transcript Highlights:
- My name is Jonathan Martinez, and I am the Secure Bureau Chief.
- overlap with non-tribal interests in a regional context.
- I have a few thoughts about the Water Security Planning Act.
- So I think the goal is to have all of the interests at the table.
- We often relegate tribal interests to an input process.
Committee:
House Water & Natural Resources Committee
US
US Federal 2025-2026 Regular Session
Hearings to examine the nominations of Michael Kratsios, of South Carolina, to be Director of the Office of Science and Technology Policy, and Mark Meador, of Virginia, to be a Federal Trade Commissioner. Feb 25th, 2025 at 09:00 am
Commerce, Science, and Transportation Committee
Transcript Highlights:
- Our national security, our liberty, and our prosperity depend on it.
- interests of the United States and the commercial interests.
- We talked about your interest in this intersection between national security and technology.
- Do you see a role for the national labs in using AI for national security risk assessment?
- And they do understand a sense of whether or not their interests are being put forward.
Keywords:
Senate Committee, Commerce, Science, Technology, Quantum Computing, Artificial Intelligence, FTC, Consumer Protection, Innovation, Emerging Technologies
Summary:
The meeting of the Senate Committee on Commerce, Science, and Transportation featured significant discussions regarding technological advancements and their implications for the future. Notably, nominations were made for key positions in the White House's Office of Science and Technology Policy and the Federal Trade Commission. Committee members expressed the importance of leading in emerging technologies like artificial intelligence and quantum computing, emphasizing that the pace of innovation is crucial for maintaining the United States' global position as a leader in technology. The discussions also highlighted the role of the FTC in protecting consumers from deceptive business practices and ensuring fair competition in the marketplace.
Attendees underscored the urgency of advancing research and development in areas such as quantum computing, as evidenced by a demonstration of a new quantum chip anticipated to redefine computing capabilities across industries. Various members engaged in vibrant exchanges, showing support for initiatives aimed at bolstering innovation through public and private collaboration. Overall, the meeting set a strong agenda for pursuing future science and technology policies that ensure the U.S. remains at the forefront of global advancements.
MA
Massachusetts 2025-2026 Regular Session
Future of Payments and Sales Transactions by Credit Card and the Impacts for Small Businesses Jun 21st, 2026 at 11:00 am
Transcript Highlights:
- I have kind of an interesting background. I spent nearly 20 years as a small retailer.
- And it's kind of interesting because when a Home Depot or an And it's kind of interesting because when
- It would be interesting, but I'm in no position to negotiate for the banks.
- I mean, that's an interesting argument.
- ...have the best, safest, most secure payment system on the planet.
Summary:
The Special Commission on the future of payments and sales transactions by credit card heard extensive testimony from credit union, banking, retail, restaurant, and payments-industry representatives about proposals to limit interchange fees, especially on the tax and tip portions of transactions. Several witnesses opposed state-level restrictions, arguing they would create a patchwork of rules, burden state-chartered institutions, raise compliance complexity, and ultimately reduce resources for fraud prevention, cybersecurity, rewards, and access to credit. Others, including retail and merchant advocates, said swipe fees are a significant and growing cost for small businesses and that states should consider reforms such as limiting fees on taxes and tips, allowing surcharging, improving transparency in merchant contracts, and studying collection costs more closely.
Witnesses also discussed recent legal and regulatory developments, including Illinois’s interchange-fee law, OCC and NCUA interim rules, and the ongoing Visa/Mastercard antitrust settlement. Industry representatives said the Illinois law has been delayed and is likely preempted for most transactions, while merchant advocates argued the state efforts and court rulings show that networks and banks do not set fees competitively. The proposed antitrust settlement was described by some as a meaningful but limited merchant victory, with temporary fee reductions and expanded surcharge/steering rights, while others said it still falls short of structural reform.
The commission members pressed witnesses on the practical effects of fees, the cost of cash, whether merchants can pass costs through, and whether small businesses are actually seeing benefits from the current system. Members repeatedly emphasized the need for a fair middle ground that protects both small businesses and the payment system. No substantive votes or policy actions were taken beyond accepting testimony, and the meeting ended with adjournment after all scheduled witnesses had spoken.
MN
Minnesota 2025-2026 Regular Session
Press Conference: Senate POCI Caucus Announces 2025 Priorities - 02/03/25
Transcript Highlights:
- in that process, the members of the POCI caucus will not be silent, and we will act in the best interest
- </c><00:01:17.159><c> of</c><00:01:17.320><c> Minnesota</c> act in the best interest of Minnesota act
- in the best interest of Minnesota and<00:01:18.119><c> all</c><00:01:18.280><c> of</c><00:01:18.439>
- in who people voted for I'm interested in who people voted for I'm interested<00:15:05.720><c> in</c
- </c><00:19:01.840><c> clearance</c> people who don't have security clearance people who don't have security
NH
New Hampshire 2026 Regular Session
House Science, Technology and Energy (02/10/2026)
Science, Technology and Energy
Transcript Highlights:
- </c> This testimony represents the interests This testimony represents the interests of<01:22:45.760>
- Um the US government and security.
- So it’s very interesting.
- </c> as secure as its weakest part, right? as secure as its weakest part, right?
- security? security?
Committee:
House Science, Technology and Energy