Transcript Highlights:

• House Bill 685 provides with respect to the procurement of public motor vehicles and rolling stock.
• now, when Louisiana transit agencies need to purchase buses, paratransit vehicles, or other rolling stock
• cooperative procurement process authorized under the Federal FAST Act for public motor vehicles and rolling stock
• These rolling stock, they're not already under a government agency for the bids, you know, statewide,
• know that, you know, fire trucks and different automobiles and stuff like that, different rolling stock

Summary: The committee first heard House Bill 1157, which would create a Louisiana State Infrastructure Bank to provide another funding mechanism for transportation-related projects, including roads, bridges, rail, ports, airports, and other surface transportation needs. Chairman Borek and DOTD Secretary Glenn LaD said the goal is to leverage state, federal, local, and private dollars, using models from Florida and other states. Members asked about board makeup, staffing, project selection, administrative costs, and how the bank would differ from capital outlay and existing transportation programs. Testimony in support came from business and economic development representatives, including Michael Hecht of Greater New Orleans, Inc., who said infrastructure is critical to major economic projects and that the bank could attract outside capital. The bill was reported favorably without objection. The committee then took up several local and procurement-related bills. House Bill 860, allowing fillable electronic public bid forms, was reported favorably. House Bill 972, naming a portion of Highway 93 in Lafayette Parish the Desert Shield Desert Storm Memorial Highway, and House Bill 965, naming a portion of Highway 163 the Sergeant William Billy Earl Collins Jr. Memorial Highway, were both reported favorably after brief testimony honoring veterans and law enforcement. House Bill 692, authorizing local governments to enter group purchasing agreements, was amended and reported favorably. House Bill 685, allowing use of FAST Act cooperative procurement for public motor vehicles and rolling stock, drew support from transit officials and was reported favorably after a roll call vote, with one member voting no. The committee also advanced House Bill 982, which designates portions of highways in Morehouse Parish in memory of local residents killed in a crash after attending an LSU game; it was reported with amendments. House Bill 506, creating special prestige license plates for local high schools as a fundraiser, was amended and reported favorably. House Bill 839, lowering the contract limit for hospital service districts to use construction management at risk from $2 million to $1 million, was reported by substitute after testimony from hospital leadership and industry representatives. House Bill 1072, revising powers and emergency procurement authority for the Office of Louisiana Highway Construction, was amended and reported favorably after discussion about its relationship to DOTD and emergency repairs. Finally, the committee heard House Bill 887, which revises construction management at risk procedures, including committee makeup, scoring, and financial qualification requirements; it was amended and reported favorably. House Bill 647, creating timelines and an annual application process for waterway projects under a waterway assistance program and fund, was reported by substitute. The last major item discussed was House Bill 873, which would fund pursuit intervention technology and training for law enforcement through a $2 fee on driver’s licenses. The bill was presented alongside emotional testimony from the widow and daughter of Sergeant Grant Candies and from a St. John the Baptist Parish sheriff’s captain, all urging safer equipment and better training for officers. Members expressed strong support, and the discussion continued into funding and grant administration details.

Transcript Highlights:

• through condo conversions, because people will occupy a unit as their home, or because some of the stock
• And I'm fully supportive of government intervention in building up affordable housing stock in Massachusetts
• way we get affordable housing is either through what we call filtering, which is when the housing stock
• way we get affordable housing is either through what we call filtering, which is when the housing stock
• inventory for that missing middle renter, that missing middle buyer, and also consider that some of our stock

Bills: H5008

Keywords: rent control, housing stability, tenants rights, affordability crisis, consumer protection

Summary: The Special Joint Committee on Initiative Petitions held a public hearing on Initiative Petition 25-21, House Bill 508, an act to protect tenants by limiting rent increases. The chair explained the ballot process under Article 48 and outlined the hearing structure. The first witness, a Harvard Joint Center for Housing Studies researcher, described Massachusetts’ worsening rental affordability, explained how rent regulation policies are typically designed, and reviewed research suggesting rent regulation can slow rent growth and improve tenant stability, while also noting concerns about reduced supply, quality, and implementation details. She compared the proposal to other state and local rent-stabilization laws and said the measure would cap increases at the lower of CPI or 5%, exempt certain housing types, and apply to new tenants as well as current tenants because it would not allow vacancy decontrol. Supporters of the petition argued that rent stabilization is needed to address displacement and immediate affordability pressures while broader housing production continues. The proponent from Homes for All Massachusetts said the policy is a grassroots response to corporate rent hikes and cited examples of tenants facing steep increases. A tenant from Arlington described a long dispute after a building was purchased by an investment firm and rents were raised sharply, saying the experience showed how rent increases can function as eviction. A union leader said high rents are forcing workers out of the communities they serve, and two experts testified that rent stabilization can reduce displacement and provide broad, immediate benefits. Committee members asked about the proposal’s exemptions, the 10-year new-construction carveout, vacancy decontrol, and whether the policy could discourage development; supporters said the bill targets large landlords, preserves room for small owners, and should be viewed as a complement to new housing production. Opponents, including small property owners, a chamber of commerce representative, a union official, and a landlord, argued the measure would hurt small landlords, reduce investment, and slow housing production. They said operating costs such as taxes, insurance, and maintenance rise faster than the proposed cap, and warned that capping rents would lower property values and tax revenues. Several opponents emphasized that many housing providers are not large corporations but local “mom-and-pop” owners, and one said the proposal would discourage pension funds and other investors from financing new projects. Committee members pressed opponents on what alternatives they would support for affordability, and opponents pointed to increased housing production and other housing policies instead of rent control. No vote or final action was taken at the hearing.

Transcript Highlights:

• SPGMI's forecast of the Standard & Poor's 500 stock index is one determinant of our forecast for non-wage
• Standard &amp; SPGMI's forecast of the Standard &amp; Poor's<00:13:15.880><c> 500</c><00:13:16.440><c> stock
• </c><00:13:16.839><c> index</c><00:13:17.520><c> is</c><00:13:17.760><c> one</c> Poor's 500 stock index
• is one Poor's 500 stock index is one determinant<00:13:18.680><c> of</c><00:13:18.800><c> our</c><00
• profits data could have meaningful impacts on available revenues, as well as recent events with the stock

Keywords: 1187, senate, all

Transcript Highlights:

• Basically, it's your rolling stock of vehicles of a certain weight.
• a little bit more than 30,000, but it is putting a cramp in their ability to be able to get their stock
• <00:46:31.440><c> it's</c><00:46:31.680><c> your</c><00:46:31.920><c> rolling</c><00:46:32.400><c> stock
• </c><00:46:33.119><c> of</c> Basically, it's your rolling stock of Basically, it's your rolling stock

Keywords: 920, all

Summary: The Alabama Senate convened with prayer, the pledge, and a roll call establishing a quorum of 29 senators present. The chamber adopted the previous day’s journal, allowed bill introductions throughout the day, and received multiple House messages referring local bills and proposed constitutional amendments to the Committee on Local Legislation, along with a lieutenant governor’s confirmation referral to the Committee on Confirmations. Committee reports were then received from several standing committees. The Senate confirmed a series of gubernatorial and other appointments, including Michael Kulovitz and Barbara Maul to the Alabama Institute for Deaf and Blind Board of Trustees, Logan Glass to the Educational Television Commission, Ed Croll and James Harris to the Alabama Committee on Monument Protection, Matt Barnes to the Alabama Medical Cannabis Commission, Scott Moes and Jeffrey Wilson to the Alabama Electronic Security Board of Licensure, and Jeffrey L. Cameman to the Tuscaloosa County Civil Service Board. The Senate also received favorable committee reports on numerous bills from Judiciary, State Governmental Affairs, Education Policy, Fiscal Responsibility and Economic Development, Health Care, Veterans and Military Affairs, and Local Legislation, with several bills amended or substituted and placed on the next day’s calendar. On the floor, the Senate adopted a special order calendar from the Rules Committee and passed several bills. Senate Bill 101 extended the Alabama Board of Electrical Contractors to October 1, 2028. Senate Bill 93, as amended, allowed certain municipalities with populations of 12,000 or more and even-numbered councils to authorize a mayoral tie-breaking vote by council resolution. Senate Bill 115 created a competitive-bidding exemption for certain expenditures of $15,000 or less involving rolling stock, with quote and approval requirements. Senate Bill 131 on county subdivisions was amended and passed. Senate Bill 30, known as “Trey’s Law,” would make certain nondisclosure provisions unenforceable in cases involving sexual abuse victims; the sponsor described it as protecting survivors from being silenced, while Senator Albritton cautioned about the broader effects on settlements and institutions. The Senate also adopted two resolutions: Senate Joint Resolution 19 honoring the life and legacy of Anna Smith Bedsole Holmes, and Senate Joint Resolution 20 commending the Alabama Birth Equity Initiative. The Rules Committee report setting the special order calendar was adopted, and the listed bills were taken up and passed or advanced by unanimous or near-unanimous votes.

Transcript Highlights:

• The big caveat here is that a lot of those gains seem to be driven by the huge run-up in the stock market
• And stock prices have become very high right now relative to what companies are earning, and so that
• potential risk that the revenue picture could reverse very quickly if we were to see a large drop in the stock
• but in 2024-25 there are some unique features that make that more of a concern: our reliance on the stock
• There are some unique features that make that more of a concern: our reliance on the stock market, the

Summary: The Assembly Budget Subcommittee on Education Finance met for its annual Proposition 98 overview, with Chair Alvarez outlining the committee’s focus on K-12 funding, student outcomes, and use of one-time funds. Superintendent Tony Thurmond gave an update on education issues, including wildfire recovery support for affected school communities, ongoing concerns about federal threats to education funding and immigration enforcement, progress on literacy and math, dual-language immersion, educator housing, and support for dual enrollment. Members broadly expressed support for these priorities, while also raising concerns about implementation, funding stability, and the need for schools to remain safe places for students. The committee then reviewed the Governor’s Proposition 98 proposal. The Department of Finance said the 2025-26 Proposition 98 guarantee is projected at $118.9 billion, with higher revenues and TK-related rebenching driving the increase. The LAO said the budget adds about $7.5 billion over two years and discussed the volatility of the guarantee, especially in 2024-25, when changes in revenue could have an outsized effect on school funding. Members questioned the proposed $1.6 billion delayed settle-up payment, the legal basis for delaying it, and the impact of possible federal funding freezes. The LAO presented alternatives such as a reserve deposit or delayed disbursement, while Finance said the proposal is intended to manage uncertainty. Members also raised concerns that ethnic studies implementation was not funded in the January budget, and Finance said the administration was not proposing funding for it. The committee next heard on the Proposition 98 rainy day fund and education deferrals. Finance said the reserve would receive a mandatory deposit of about $1.2 billion in 2024-25 and a discretionary deposit of $376 million in 2025-26, leaving a balance of about $1.5 billion. The LAO supported rebuilding the reserve as a way to manage volatility. On deferrals, Finance described the Governor’s plan to eliminate remaining deferrals by 2025-26, and the LAO said paying them off improves cash flow and budget resilience. Members generally supported eliminating deferrals and rebuilding reserves, though some asked about acting earlier if revenues allow. The committee also reviewed the proposed $1.8 billion student support and professional development block grant; Finance said it would fund professional development, recruitment and retention, and dual enrollment, while the LAO recommended clearer language on local discretion and use for one-time costs. Members were divided, with some supporting flexibility and others warning that one-time block grants can create instability and confusion for districts.

Transcript Highlights:

• . >> Relative to the purchase or acquisition of certain unmanned aircraft systems. >> Relative to the
• purchase or acquisition of certain unmanned aircraft systems.
• 31, introducing House Bill 1444 on behalf of the prime sponsor, um, relative to the purchase and acquisition
• </c><00:54:59.359><c> of</c><00:54:59.599><c> certain</c> the purchase and acquisition of certain the
• purchase and acquisition of certain unmanned<00:55:00.559><c> aircraft</c><00:55:01.119><c> systems.

Keywords: 1191, senate, all

Transcript Highlights:

• We oppose public acquisition of private properties to accommodate shoreline changes where that's the
• >> Well, we support public acquisition in certain cases.
• We oppose<01:19:16.719><c> public</c><01:19:17.120><c> acquisition</c><01:19:17.920><c> of</c><01:19:
• 18.239><c> private</c> oppose public acquisition of private oppose public acquisition of private properties
• </c> &gt;&gt; Well, we we support public acquisition &gt;&gt; Well, we we support public acquisition

Keywords: 912, senate, all

Summary: The committee took up Senate Bill 3019, which would cap ticket resale prices at face value for events in Hawaii and authorize DCCA to enforce violations. DCCA’s Office of Consumer Protection opposed the bill and said it preferred a ticket transparency approach focused on upfront disclosure of fees, while supporters argued the measure would curb scalping, bots, and extreme markups. Testimony from the National Independent Venue Association and a concert promoter emphasized that resale does not add inventory and said the bill would protect consumers; committee members questioned DCCA about enforcement and cited examples of very high resale prices for local concerts. No vote was taken in the excerpt, and the chair said the measure would be moved along for further consideration. The committee then heard Senate Bill 3311, which would create the Strengthen Hawaii Homes Program within DLNR to fund fire-mitigation grants for residential property owners. DLNR supported the bill, saying the need is immediate and that the program is modeled on successful mainland efforts, though the department said it ultimately belongs under the State Fire Marshal once that office has capacity. DCCA’s Insurance Division submitted written comments only. The measure was received without further action in the excerpt. Senate Bill 2979, authorizing DLNR and community-based organizations to enter community co-management agreements for state lands, drew broad support from OHA, community groups, and several individuals, who said the bill would formalize partnerships, strengthen shared responsibility, and help community stewardship efforts. Testifiers clarified that the bill does not require 65-year agreements and said the term should be left to DLNR’s discretion. The committee then moved on without questions or a vote shown in the excerpt. Finally, the committee heard Senate Bill 2351 on the state park special fund, which would allow DLNR to use fund monies for environmental protection programs. DLNR’s state parks administrator opposed the bill, saying the special fund is already fully committed to urgent maintenance and infrastructure needs across an aging park system, and warned that diverting money would weaken the fund’s ability to support parks. The Tax Foundation also submitted written testimony, and a community witness opposed the measure for similar reasons. The excerpt ends as the committee begins Senate Bill 2918, which would require HCDA to establish a community action center in Chinatown; HCDA’s executive director expressed concern about jurisdiction and said the city and county should continue leading that work.

Transcript Highlights:

• All right, relative to the purchase or acquisition of certain unmanned aircraft systems. Okay.
• You got to come in with my stock portfolio and see I'm financially responsible, and you're going to make
• come</c><04:14:52.960><c> in</c><04:14:53.120><c> with</c><04:14:53.279><c> my</c><04:14:53.520><c> stock
• </c><04:14:53.760><c> portfolio</c> got to come in with my stock portfolio got to come in with my stock

Keywords: 1189, house, all

Transcript Highlights:

• From 2016 to 2023, there were 22 mergers, acquisitions, and other changes in ownership involving Minnesota
• 22</c><00:02:56.640><c> mergers,</c> 2023, there were 22 mergers, 2023, there were 22 mergers, acquisitions
• 57.920><c> and</c><00:02:58.160><c> other</c><00:02:58.480><c> changes</c><00:02:58.800><c> in</c> acquisitions
• , and other changes in acquisitions, and other changes in ownership<00:02:59.519><c> involving</c><00
• </c><01:32:12.719><c> and</c> in addition to the acquisition and in addition to the acquisition and replacement

Bills: HF2779, HF1645, HF1885, HF1289, HF1534, HF2707, HF1675, HF3046

Keywords: health care transparency, ownership disclosure, control reporting, health care consolidation, private equity, management services organization, MSO, provider organization, health insurer, pharmacy benefit manager, hospital system, affiliate reporting, financial disclosure, public reporting, market concentration, horizontal consolidation, vertical consolidation, health care ownership, corporate practice, health care regulation

Transcript Highlights:

• Um, I'm working in site acquisition with Cooperative Energy Futures.
• Um, I'm working in site acquisition with Cooperative Energy Futures.
• Um, I'm working in site acquisition with Cooperative Energy Futures.
• Um, I'm working in site acquisition with Cooperative Energy Futures.
• Um, I'm working in site acquisition with Cooperative Energy Futures.

Keywords: 1187, senate, all

Transcript Highlights:

• to study the corridor and then an additional $6 million for planning, design, and right-of-way acquisition
• </c><01:16:43.840><c> for</c><01:16:44.159><c> this</c> right-of-way acquisition for this right-of-way
• acquisition for this project.<01:16:45.280><c> We're</c><01:16:45.520><c> seeking</c><01:16:45.840><
• the $1 million for the study and then the $6 million for the planning, design, and right-of-way acquisition
• Uh we've been in rightaway acquisition.

Keywords: 1183, house

Transcript Highlights:

• 32:02.960><c> might</c><01:32:03.159><c> have</c><01:32:03.360><c> language</c><01:32:04.080><c> acquisition
• </c> who might have language acquisition who might have language acquisition challenges<01:32:05.880>
• weaknesses that were found in that 2022 work group are being addressed, namely models of reading acquisition
• and</c><01:51:04.320><c> emphasis</c><01:51:04.840><c> on</c><01:51:05.520><c> application</c> acquisition
• and emphasis on application acquisition and emphasis on application of<01:51:06.840><c> the</c><01:51

Keywords: 1187, senate, all

Transcript Highlights:

• that personalized firearm is officially certified, every gun store in the state would be required to stock
• So right now, every firearm is custom-made to order, and so we don’t stock any inventory at distributors
• “Right now, every firearm is custom-made to order, and so we don’t stock any inventory at distributors

Keywords: 995, all

Summary: The commission met for its fourth hearing on emerging firearm technology, focused on personalized firearms and related privacy issues. Co-chairs noted the commission’s charge to study personalized firearm incentives, risks from digital manufacturing codes and AI, and the costs of requiring personalized firearm and microstamp technologies, and said the report deadline is being extended to July 31. They also announced the next public hearing for April 17 at 11:00 a.m., limited to Massachusetts residents. The first witness, Kai Kloepfer of Biofire, described the company’s personalized 9mm smart gun and argued it is designed to prevent unauthorized use through biometric authentication, local encrypted data storage, no wireless connectivity, and automatic disarming when released. He said Biofire opposes any mandate requiring personalized firearms, calling such mandates a de facto gun ban that would stifle innovation, limit consumer choice, and burden a still-developing market. He said the company has a patent portfolio, has received thousands of pre-orders, is shipping in all 50 states, and is approved for sale in Massachusetts; he also said the gun costs about $1,500, is currently sold online, and is intended mainly for home defense. Members questioned him about sales, manufacturing, battery life, repairability, transfer of ownership, possible expansion to other firearms, and whether microstamping could be incorporated. A Massachusetts firearms roster official, Michaela Dunn, explained the state’s testing and approval process for handguns and confirmed that the Biofire firearm is now on the Massachusetts roster and commercially available for retail sale in the state. Kate Crockford of the ACLU of Massachusetts testified only on facial recognition, warning that commercially available systems show significant demographic bias and that Massachusetts lacks comprehensive biometric privacy protections. She urged passage of pending data privacy and biometric privacy bills, including the Massachusetts Data Privacy Act and related measures, before any broader use of biometric verification in firearm laws. Commissioners discussed privacy concerns, and Biofire said its system is zero-knowledge and would likely comply with stronger biometric privacy laws. No votes were taken and no formal action was reported beyond the scheduling announcement and the extension effort.

Transcript Highlights:

• If you look at stocks, it's kind of the opposite. It goes slowly up and up and up and up.
• But the vast majority of economists see crypto as more like a stock, like a security.
• But the vast majority of economists see crypto as more like a stock, like a security.

Keywords: 988, house, all

Transcript Highlights:

• that prohibits the Public Safety Personnel Retirement System from owning more than 5% of the voting stock
• that prohibits the Public Safety Personnel Retirement System from owning more than 5% of the voting stock
• that prohibits the Public Safety Personnel Retirement System from owning more than 5% of the voting stock

Keywords: 1182, all

Summary: The caucus reviewed a long agenda of Senate bills across elections, commerce, education, government, health and human services, judiciary, public safety, transportation, rural development, and ways and means. Many measures were described as consent or third-read consent items, including bills on campaign finance termination statements and late-report penalties, AI provenance data for media, adjuster/contractor conduct during emergencies, Industrial Commission changes, association meeting closures, banking and remittance rules, central bank digital currency, public safety parity funding, barbering and cosmetology board continuation, digital asset reserve management, contractor licensing, gaming and racing commission continuation, school AED instruction, classroom removal procedures, school safety reporting, special education complaint transparency, foreign influence and land ownership restrictions, DCS and DES process changes, health care licensing and reimbursement rules, EMS compact adoption, and multiple tax, housing, and transportation measures. Staff repeatedly summarized each bill and answered questions, with several bills noted as mirror or identical to House measures or as strike-everything amendments from committees. A few bills drew discussion. On SB 2874, staff explained that the Senate amendment would limit penalties for untimely campaign finance reports when a committee certifies it received no contributions and made no expenditures, but the sponsor did not concur. SB 1074 prompted questions about whether parental notification changed; staff said it did not and that the bill was aimed at improving communication between teachers and principals about discipline. SB 1175, requiring DCS caseworkers to photograph children at each interaction in abuse or neglect cases, drew concern about the scope of the photos, while supporters said it would improve continuity and documentation. SB 1180 also drew comment because the sponsor and committee chair disagreed over an amendment, though the bill was advanced for further work. The most extended debate came on SB 1751, which would allow death-row inmates to choose firing squad, lethal injection, or lethal gas if voters approve the related constitutional measure. One member strongly opposed the bill on moral and personal grounds, another argued it could be a more humane option if the state is going to carry out executions, and a third raised concern that it could be used against Second Amendment rights. The bill remained on the third-read consent calendar despite the objections. The caucus concluded after moving through the remaining agenda items, with no formal votes recorded in the transcript beyond committee status and consent-calendar placement.

Transcript Highlights:

• a</c> parties it's it's it's kind of a parties it's it's it's kind of a laughing<00:19:38.559><c> stock
• 39.360><c> a</c><00:19:39.600><c> step</c><00:19:39.840><c> in</c><00:19:40.000><c> the</c> laughing stock
• So this is a step in the laughing stock.

Keywords: 1183, house

Transcript Highlights:

• Move on to Senate Bill 6249, stocking DOC. That is a will.
• The bill requires DOC to supervise any person convicted of stocking.
• There have been no amendments offered for this bill. any person convicted of stocking.

Summary: The Human Services Committee met on policy cutoff day and first completed executive action on several bills. Members advanced Senate Bill 6224 on the Children and Youth Behavioral Health Leadership Council to Ways and Means, Senate Bill 6255 on the poverty task force/council changes to Rules, Senate Bill 5977 on DCYF near-fatality reports to Rules, Senate Bill 5979 on in-home dependency procedures to Rules, Senate Bill 6249 on DOC supervision of stalking convictions to Rules, and Senate Bill 6007 on WISIP’s evaluation of child welfare screening tools to Ways and Means. The committee also confirmed gubernatorial appointee Angela Ramirez. Several proposed amendments were debated, mostly offered by Senator Christian, but most failed; one technical amendment to SB 6184 was adopted, and an amendment to SB 6007 removing the risk-assessment portion of the study was adopted before the bill advanced. The committee also moved to waive the five-day notice rule for Senate Bill 6339 so it could be heard that day. The public hearing on Senate Bill 6339 focused on a proposed requirement that a less restrictive alternative (LRA) placement for sexually violent predators be owned and operated by the same individuals. Senator Torres and Senator Banke argued the bill would improve accountability, transparency, and community safety, citing a proposed Kennewick placement near schools and children. Supporters from the city of Kennewick and community members said the current process lacked transparency and that owner-operators should have a direct stake in safe operation. Opponents, including DSHS, the Washington Defender Association, the Office of Public Defense, and Disability Rights Washington, said the bill would create conflicts of interest, be difficult or impossible to implement, and could undermine the constitutional LRA process by making community placement unattainable. Committee members asked about liability, supervision, and the difference between LRA placements and unconditional release, and the chair said more work was needed on the issue. No final action was taken on SB 6339 during the hearing. The chair closed the hearing after noting the committee was at cutoff and that further discussion would continue later.

Transcript Highlights:

• mother who had a child with a rare disease who worked at Nvidia, and she was quite happy about how the stock
• performing, and it was clear to me they had means and..." "...and she was quite happy about how the stock
• And so it took me a while to get there, but that's..." and she was quite happy about how the stock was

Keywords: 959, house, all

Transcript Highlights:

• Have declined by 42% since 2000 and shelves are stocked with more than 600 low and 0 sugar offerings.
• It comes to when we have parts, we were stocking approximately 4 and a half million dollars parts and
• For that reason, we invest in about 26 million dollars of parts of the Tory that we keep early in stock

Keywords: 999, senate, all

Transcript Highlights:

• have to file with the SEC in a security because you was buying it as a security, like you’re buying a stock
• have to file with the SEC in a security because you was buying it as a security, like you’re buying a stock
• have to file with the SEC in a security because you was buying it as a security, like you’re buying a stock

Keywords: 958, all

Summary: The House Standing Committee on Banking and Insurance met with a quorum and first introduced a guest before taking up House Bill 701, sponsored by Representative Adam Bowling. The committee adopted a committee substitute by voice vote. Bowling explained that the substitute removed the bill’s mining-related language and added clarification that the bill does not require anyone to accept digital assets as payment. The bill was described as a measure to modernize Kentucky’s approach to digital assets and blockchain technology, protect the right to hold and transact in digital assets, and clarify that certain crypto activities are not securities; it also preserves authority for the Attorney General to pursue fraud under existing consumer protection laws. Members asked questions about why Kentucky should act before federal regulators fully resolve whether digital assets are securities or commodities, whether the bill affected local zoning authority, and how the measure addresses consumer protection and money laundering concerns. Bowling and a Coinbase representative said the bill is intended to provide clarity, align Kentucky with emerging federal developments, and avoid stifling innovation. They noted that Coinbase remains subject to federal AML/KYC rules and that recent federal litigation over staking and securities issues had been dismissed. Several members said they supported the bill as a way to put Kentucky in a leading position, while others expressed uncertainty about the security-versus-commodity question. The committee then voted on House Bill 701 as amended by the substitute. The bill passed on a roll call vote, with most members voting yes. Representative Camuel passed, saying she wanted more time to understand the issue, and Representative Grossberg voted yes with reservations. Representative Hancock and others said the bill’s regulatory clarity and consumer protection aspects were important, and Representative Lockett said the measure would help Kentucky be ready once federal regulators decide how crypto should be classified.