Transcript Highlights:

• An act to amend Title 21 of the Delaware Code relating to the removal of ice and snow from vehicles.
• This bill requires that accumulated snow and ice be removed from the surfaces of a vehicle.
• There is an amendment attached to the bill that exempts farm tractors and farm vehicles.
• He was he Delaware Secretary of Finance.
• Signed, Michael Smith, Secretary of Finance, June 24, 2026.

Summary: The House convened with quorum, offered prayers and moments of silence for community members who had recently died, and recognized several guests and family members in the chamber. After routine communications and passage of consent calendar 29, the chamber took up a series of measures on the main and colored agendas, with several bills and resolutions passing by voice vote or roll call. Among the measures approved were House Concurrent Resolution 157, which as amended requested a State Lottery report on options to support traditional lottery retailers; Senate Bill 53 on the Delaware Farm to Community Program; Senate Bill 307 on PSC authority for Lifeline telecommunications carriers; Senate Bill 339 clarifying health directive forms in mental health facilities; Senate Bill 235 on manufactured home community rent increases; Senate Bill 325, as amended, updating fire prevention and volunteer fire/EMS background check rules; Senate Bill 309 on inmate work and discharge of incarceration-related balances; Senate Bill 324 on deadly weapons and constable agency representatives; Senate Bill 293 on youth camp child care licensing; Senate Bill 94 on respiratory care practitioners and ECMO medication delivery; and Senate Substitute 2 for Senate Bill 100, proposing a constitutional amendment protecting the right to marry regardless of race or gender while preserving religious freedom. House Bill 188, changing Delaware primary elections to allow unaffiliated voters to choose a party primary, also passed after debate. Two measures drew extended discussion and amendments. Senate Bill 233, requiring snow and ice to be removed from vehicles, was tabled once, then later amended and passed after debate over whether the law was workable for truck drivers and other vehicle operators; a proposed truck-related exemption amendment failed. House Substitute 1 for House Bill 404, creating a pilot program for artificial intelligence and extended reality in schools, passed after testimony from the Department of Education emphasizing guardrails, privacy, and educator oversight, alongside concerns from members about data, bias, and long-term effects. Several items were tabled or reconsidered during the session, and the House adjourned after completing the day’s business.

Transcript Highlights:

• I think we still have some tweaking to do, whether it's in here or the Senate Finance, but it's a good
• They need the vehicles to reach out to rural communities to then transport the individuals back to a
• I think the inclusion, again, for you to consider as it moves on to Finance.
• Okay, and okay, section seven, that's for vehicles.
• So, 5 million dollars should cover ideally most of the vehicles that are necessary for that.

Committee: Senate Senate Health & Public Affairs

Transcript Highlights:

• it prohibits a control officer, after the effective date, from making participation of an offer of vehicle
• fleet and the ERC program mandatory pursuant... ...participation of an offer of vehicle fleet, and the
• House Bill 2029, amending section 49-33, relating to water infrastructure finance program.
• House Bill 2323, an act amending Section 44-1261, relating to motor vehicle warranties.
• House Bill 2323, an act amending Section 44-1261, relating to motor vehicle warranties.

Summary: The Senate convened with prayer and the Pledge of Allegiance, recognized guests including participants in the Southern Arizona Water Leadership Institute and the Doctor of the Day, and then moved through a series of procedural actions, committee reports, and Committee of the Whole calendars. The chamber considered several House bills dealing mainly with water policy, air quality, local regulation and airport buffers, timeshare sales, advertising/digital goods refunds, elections, probation, radiologic technologies, firefighters, health care, property tax, state agencies, tourism, employment relationships, motor vehicle warranties, the State Fire Marshal, education, and retirement system provisions. Several floor and committee amendments were adopted, including amendments to HB 2428, HB 2875, HB 2877, HB 2029, and HB 2010; one amendment to HB 2029 failed on a 13-14 vote. On third reading, the Senate passed HB 2006, HB 2050, HB 246, HB 262, HB 2089, HB 2090, HB 292, HB 298, HB 2122, HB 2126, HB 2138, HB 2176, HB 2177, HB 2173, HB 2178, HB 2179, HB 2258, HB 2310, HB 2323, HB 2324, HB 2395, HB 2010, HB 2029, HB 2132, HB 2261, HB 2428, HB 2875, and HB 2877, with recorded votes ranging from unanimous or near-unanimous support to more divided outcomes on HB 2026, HB 2132, HB 2261, and HB 2877. HB 2026 drew criticism over assured water supply and commingling concerns, while HB 2029’s statewide water-conservation analysis amendment was defended as a responsible use of public funds. HB 2177 drew supportive explanations from senators noting its importance for tribal waiver-related services. The Senate also concurred in House amendments to SB 1092, SB 1430, and SB 1479, then adopted final readings on those measures. SB 1092, dealing with dangerous crimes against children probation, passed 18-10 after debate over judicial discretion and sentencing policy; SB 1430 passed unanimously; and SB 1479 passed 20-1. The session concluded with the Senate adjourning until April 8, 2026, at 10 a.m.

Transcript Highlights:

• The Department of Licensing estimates one-time operating expenditures of $186,000 from the motor vehicle
• account and with that I'm available for any questions motor vehicle accounts.
• Lacking a few hundred dollars could lead to a loss of utilities, a repossession of a vehicle, or an eviction
• Lacking a few hundred dollars could lead to a loss of utilities, a repossession of a vehicle or an eviction
• 800,000 family caregivers here in the state who shoulder the responsibility of managing paperwork, finances

Bills: HB1269 , HB2624

Committee: Senate Business, Trade & Economic Development

Keywords: pawnbroker, fees, interest rates, consumer protection, financial regulation, real estate transactions, nonprofit, land conservancies, unsolicited offers, property rights

Transcript Highlights:

• </c><00:55:41.680><c> to</c> majority of the committee on finance to majority of the committee on finance
• </c> House Bill 661 to the finance committee. House Bill 661 to the finance committee.
• And that Senate vehicle is a Republican vehicle.
• And that Senate vehicle is a Republican vehicle.
• And that Senate vehicle is<07:12:14.320><c> a</c><07:12:14.478><c> Republican</c><07:12:14.958><c> vehicle

Transcript Highlights:

• Finance. Thank you, Mr. President. Finance will meet today at 1:00.
• Busy day in Finance. Triple E. Uh, thank you, Mr. President.
• Um Um Um Finance. Finance. Finance.
• </c><00:53:02.120><c> Finance</c> Um thank you, Mr. President. Finance Um thank you, Mr. President.
• </c> Busy day in Finance. Triple E. Busy day in Finance. Triple E.

Summary: The Maryland Senate convened with a quorum, heard an invocation from Pastor Delman Coates, and received several guest introductions, including the doctor of the day, student visitors, homeschool advocates, community leaders, and the Braver Angels group. The chamber also journalized remarks welcoming Dr. Coates and recognized a prayer breakfast, with members offering brief thanks and acknowledgments before moving to legislative business. The Senate handled several messages and nominations, including withdrawal of an appointment, Johns Hopkins Police Accountability Board nominations, and Prince George’s County Board of License Commissioners nominations, all referred to Executive Nominations. The chamber also received House Bill 156 and an Executive Nominations Committee report recommending confirmation of a slate of appointments, which was special ordered for later consideration. A motion to return Senate Bill 463 to second reader and special order it for Tuesday was adopted without objection, and Senate Bill 473 was also special ordered for Tuesday. On third reading, the Senate passed a large number of bills, including measures on ignition interlock participation, school construction, port hearing notice, veteran status notation for educators, correctional officer scholarships, benefits exploitation, veterans trust fund applications, presidential electors, advance enrollment for children of active service members, retired law enforcement handgun permits, high-risk pregnancy discharge communication, charitable organization audit thresholds, child care criminal history checks, water pollution discharge permits, blockchain task force creation, franchise registration reform, licensing portability for foreign service members and spouses, Medicaid collaborative care cost-sharing, gift card fraud, school for the deaf board membership, vehicle dealer hearings, massage therapy advertising, protective body armor reporting, lithium-ion battery safety, pharmacy prescriber agreements for opioid use disorder treatment, human relevant research fund contributions, state and higher education email requirements, and auto insurance producer commissions. Most passed unanimously or by wide margins; Senate Bill 348 and Senate Bill 585 passed with 30 and 32 votes in favor, respectively. Senate Bill 140, concerning benefits exploitation, drew extended debate over constitutionality and pending litigation, with one senator citing an Attorney General opinion and another citing a Supreme Court case on neutral principles in church property disputes; the bill ultimately passed with 40 votes. Members later changed several votes on the floor, including on Senate Bills 172, 376, 428, and 48. The session ended while the clerk was beginning to read Senate Bill 629, with the remaining calendar not completed in the transcript.

Transcript Highlights:

• </c> to motor vehicle accidents. to motor vehicle accidents.
• SB 115 deals with local governments seeking two bids for vehicle repairs if those bids cost less than
• SB 115 deals with local governments seeking two bids for vehicle repairs if those bids cost less than
• </c><01:12:52.719><c> What</c> finance before they can go in debt.
• What finance before they can go in debt.

Transcript Highlights:

• This 2025 state government finance bill.
• /c><00:00:43.879><c> bill</c> state government finance budget bill state government finance budget bill
• </c> budget for the campaign finance board. budget for the campaign finance board.
• </c> and tell motans what kind of vehicle and tell motans what kind of vehicle they<00:34:42.159><c>
• </c> what kind of vehicles they can drive. what kind of vehicles they can drive.

Transcript Highlights:

• of pursuit vehicles for the Highway Patrol.
• million for additional expenses for troopers, including $4 million to replace the AEDs in patrol vehicles
• Senate Bill 1004 protects buyers of dogs and cats from predatory financing practices and from deceptive
• If a veterinarian determines an animal is unfit for purchase, any financing arrangement is terminated
• This amendment eliminates the three-day waiting period for dogs and cats purchased through financing

Summary: The Senate began with prayer and the Pledge of Allegiance, then moved into floor consideration of the 2026-2027 budget. Appropriations Chair Hooper presented Senate Bill 2500, describing a $115 billion budget that reduces overall spending from the prior year, maintains reserves, and includes a 3% pay raise for state employees and 5% raises for state law enforcement, firefighters, correctional officers, and park rangers. Committee chairs then outlined major spending in their areas, including K-12 education, higher education, health and human services, criminal and civil justice, transportation/tourism/economic development, and environmental and agricultural programs. Highlights included increased funding for school scholarships and safety, workforce and university programs, Medicaid and child welfare, corrections operations, affordable housing, rural communities, Everglades and water quality projects, and infrastructure. Members then asked detailed questions about several budget items. Senators sought clarification on the Emergency Management Trust Fund, arts and cultural grants, Florida Forever land acquisition versus conservation easements, teacher salaries, charter school capital outlay funding, EASE grants, New College funding, DOC inmate counts and reimbursement, lottery staffing, concealed weapons licensing positions, election security funding, iBudget waiver support, ADAP funding, Medicaid hospital rate reductions, and scholarship and enrollment supplements in K-12 education. Chairs explained that some reductions reflected technical shifts or right-sizing, that some funds were being moved below the line for better tracking, and that several items—such as ADAP and corrections operations—would likely remain conference issues with the House. After questions, the Senate substituted House bills for the budget and implementing measures and adopted amendments placing the Senate language onto the House vehicles to prepare for conference. The chamber passed the budget-related bills and several conforming measures, including bills on retirement, fuel taxes, the state agency law enforcement radio system, court trust funds, judgeships, and K-12 and higher education conforming changes. Votes on the major bills were overwhelmingly unanimous or near-unanimous, and the Senate repeatedly voted to accede to the House’s request for conference on the substituted bills.

Transcript Highlights:

• We have 57 commercial vehicle enforcement officers, that's CVE.
• Uh, take-home vehicles.
• </c> they could be a commercial vehicle they could be a commercial vehicle enforcement<00:42:01.080><
• </c> procurement service within the finance procurement service within the finance cabinet. cabinet.
• </c> and efficiency within the finance and efficiency within the finance cabinet.

Committee: Joint State Government

Transcript Highlights:

• It's like when I was a county commissioner, the biggest thing we were concerned about was the finances
• It's like when I was a county commissioner, the biggest thing we were concerned about was the finances
• Many, many, many of the new directors do go there, and there are light touches on funding and finance
• responsibilities, not just finance, but actually require, within a period of time, just like we do for
• responsibilities, not just finance, but actually require, within a period of time, just like we do for

Committee: House Education

Transcript Highlights:

• And we think this is a great vehicle to both improve and better.
• Of finance for the district. It's essentially a tool.
• Finance Authority and the legislature.
• Chairman, members of The Finance Committee, Senate Bill 13.
• Can I have a motion to adopt House Appropriations and Finance Committee Amendment 1 to Senate Finance

Committee: House House Appropriations & Finance

Transcript Highlights:

• ring of thefts of stolen vehicles.
• So it is a cascading crime when vehicle theft is committed.
• So I think that cutting down on vehicle theft doesn't just cut down on vehicle thefts.
• It cuts down on violent crimes. ...cutting down on vehicle theft doesn't just cut down on vehicle thefts
• of Public Safety the Motor Vehicle Thief Prevention Program.

Committees: House Insurance , House Insurance and Banking

Transcript Highlights:

• There is a Finance Committee amendment. Mr.
• This is the vehicle that could allow us to talk about that.
• Finance. HB 2056, appropriation for brackish groundwater feasibility study.
• Finance. HB 211, driver license examination, motorcycle awareness.
• Finance. HB 211, driver license, examination, motorcycle awareness.

Summary: The Senate met in multiple Committee of the Whole sessions and considered a large number of bills, many related to digital assets and cryptocurrency, including SB 1042, SB 1043, SB 1044, SB 1045, SB 1432, SCR 1003, SCR 1033, and SCR 1028. Members discussed whether the state should accept cryptocurrency for payments, tax or exempt virtual currency, ban central bank digital currency, and support digital assets in retirement systems. Senator Epstein repeatedly argued against the measures and tried to offer amendments targeting data center tax exemptions, but one such amendment was ruled not germane and the ruling was upheld on a division vote. The bills and resolutions in that group generally advanced with do-pass recommendations, with SB 1043 and SB 1044 amended before advancing. The Senate also advanced several bills on family law, public records, scholarship organizations, property conveyances, underground facilities, and environmental and energy issues, including SB 1039, SB 1139, SB 1147, SB 1148, SB 1328, SB 1078, SB 1142, SB 1184, SB 1254, SB 1278, SB 1281, SB 1418, SB 1445, and SB 1566. Some measures drew discussion and amendments: SB 1254 received a clarifying amendment for deeds handled by title and escrow professionals; SB 1278 had a floor amendment withdrawn; SB 1281 was amended by committee and floor changes; SB 1418 prompted questions about small modular reactors and concerns about uranium mining and health impacts; and SB 1566 was amended to address malicious delay enforcement and judicial review. Most of these bills received do-pass recommendations. In the health and human services calendar, the Senate advanced SB 1052, SB 1115, SB 1149, SB 1193, SB 1233, SB 1345, SB 1346, and SB 1631, with SB 1124 retained on the calendar. Debate centered on ACCESS and remote work, administrative deficiency cure periods, anonymous complaints, fee-for-service claims, and DCS-related hearings and investigations. Senator Gonzales opposed several ACCESS-related bills, arguing they lacked appropriations, could disrupt services, or conflicted with federal Medicaid law, while sponsors said the bills addressed agency performance and provider complaints. SB 1115, SB 1149, SB 1193, SB 1233, and SB 1345 were amended before receiving do-pass recommendations, and SB 1345’s sponsor said ACCESS was removed from the bill. The final calendar included regulatory and veterinary-related bills such as SB 1137, SB 1144, SB 1205, and SB 1286. SB 1205, dealing with motor vehicle booting fees, received a floor amendment requiring an appeals process for private parking lots. SB 1286, on veterinary telemedicine and prescriptions, drew the most extended debate, with a committee amendment and a Kavanagh floor amendment restoring a 14-day prescription extension and adding flea and tick treatment; Senator Leach opposed the floor amendment, describing prior stakeholder negotiations and changes in committee support. The transcript ends while that debate is still underway, after several bills have already been reported out with do-pass recommendations.

Transcript Highlights:

• But the police department is not returning that vehicle to your front door.
• However, water systems are capital intensive, debt financed, and long range.
• Water systems are capital intensive, debt financed, and long range.
• identification of vehicles associated with persons wanting, missing, or in danger, vehicles registered
• They capture every vehicle 24 hours a day, regardless of suspicion.

Committee: Senate Senate Government Committee of Reference

Summary: The committee approved the minutes from the prior February meetings and then took up several measures. HCR 2013, designating June 2026 as “Celebrate Life Month” in Arizona, drew emotional testimony from Crystal Cooper and Bella Stockton about their lives with spina bifida and support for the resolution. Senator Kennedy and others questioned the purpose of the resolution, arguing the state should focus on concrete supports for families, but the motion passed 4-1 with two not voting. Members then advanced HB 2327, which clarifies protections for eligible persons’ identifying information in county recorder records, with an amendment excluding voter registration records; it passed 5-0 with two not voting. HB 2258, adding La Paz County to the Tourism Advisory Council’s geographic area, also passed unanimously among those voting. HB 2397, expanding HOA/COA disclosure requirements for prospective buyers, was amended twice and passed 5-1; supporters said it would improve transparency about assessments and defects, while opponents warned about cost and administrative burdens, especially for smaller associations. HB 2015, imposing penalties for late federal/state financial reporting by state organizations, passed 4-2 despite concerns that the automatic penalties were too harsh and could be out of agencies’ control. The committee also approved HB 4049, allowing DCS to hire its own counsel and directing the Attorney General to represent the state’s interest in certain cases involving alleged DCS misconduct, though some members argued current law already addresses conflicts and that DCS had not been consulted. HB 4087, authorizing placement of a Barbara Love memorial in the governmental wall, passed without opposition. HB 2100, allowing counties to authorize certain small land subdivisions, passed 4-2 amid debate over water adequacy and the risk of “wildcat” development. HB 2460, preempting local fees and penalties tied to abandoned or stolen movable business property such as shopping carts, passed 4-2 after extensive testimony from cities, retailers, and advocates over local control, costs, and theft prevention. Finally, HCR 2056, a proposed constitutional amendment recognizing a right to refuse medical mandates, began hearing testimony; supporters framed it as bodily autonomy, while opponents, including pediatric and public health advocates, warned it would weaken vaccine requirements and outbreak protections for schools and children.

Transcript Highlights:

• </c> finances and core functions. finances and core functions.
• . finances. finances.
• </c><00:16:14.079><c> the</c> insurance sir charge finances the insurance sir charge finances the firefighter
• 22.320><c> gains</c><00:18:22.640><c> and</c> finance cabinet also tracks gains and finance cabinet also
• Brenda Goddard, director of finance for the Fire Commission.

Summary: The Legislative Oversight and Investigation Committee met without a quorum, so no votes were taken. Staff presented a study of the Kentucky Fire Commission focused on firefighter minimum training standards and administrative spending. The presentation explained that Kentucky’s training standards are built from NFPA guidelines, that the commission currently requires 115 hours for volunteer firefighters and 300 hours for paid firefighters, and that those reduced hours were adopted by removing electives and other non-NFPA content. Staff also said the commission’s IFSAC certification testing for firefighter 1 and firefighter 2 aligns with NFPA standards, but the commission cannot require local departments to train or certify firefighters. Staff recommended that the commission formally promulgate regulations establishing the reduced training hours and work with KCTCS to better separate administrative costs for certain programs so compliance with the statute can be demonstrated. The finance portion of the report said the commission is funded by general fund appropriations for State Fire Rescue Training and by an insurance premium surcharge that supports the Firefighter Foundation Program Fund. Staff reported that the commission stayed within the 5% administrative cap tied to the overall surcharge allotment, but could not confirm compliance with a separate 5% cap for specific programs because KCTCS accounting does not break out those costs in enough detail. Staff suggested the General Assembly may want to clarify what counts as administrative cost in statute. Members asked about investment returns, local fire department funding, and whether training documentation is required; staff said some of those topics were outside the study scope and that IFSAC testing relies on chief certification that a candidate is ready to test. Representatives from the Fire Commission then responded, saying they agreed with the report’s recommendations and would work to clarify the 5% issue with legislators and KCTCS. They explained that the reduction in training hours was intended to remove electives, better align with NFPA standards, and address the difficulty volunteer departments have in getting members to complete lengthy training. Commission officials said training is documented through rosters and annual compliance reviews, and that IFSAC-certified firefighter testing is based on demonstrated skills rather than a required number of training hours. They also said the difficulty in tracking the second 5% cap stems from the way KCTCS’s PeopleSoft system records reimbursements as single transactions, making it hard to isolate administrative costs by program.

Transcript Highlights:

• prohibits a control officer, after the effective date, from requiring participation or offering a vehicle
• House Bill 2029, amending section 49-33, relating to the water infrastructure finance program.
• House Bill 2323, amending Section 44-1261, relating to motor vehicle warranties.
• House Bill 2323, amending Section 44-1261, relating to motor vehicle warranties.
• House Bill 2029, an act amending Section 49-13-303, relating to the Water Infrastructure Finance Authority

Transcript Highlights:

• The quorum of the Senate Finance Committee is present.
• So can you please identify which programs within public support and financing are constitutionally or
• And, two, they want to use some of that money for a vehicle grant program to award about 20 grants of
• $20,000 to $27,000 each in order to help LEAs purchase vehicles to run those driver education programs
• While on their finances, I will highlight. continuing to see a year-over-year growth.

Summary: The committee heard a lengthy presentation on the K-12 public school support budget, including how support units, career ladder funding, health insurance, discretionary funding, transportation, facilities, and the Public Education Stabilization Fund (PSIF) work. Legislative Services explained that FY 2026 support units were revised downward, creating a $22.3 million ongoing general fund reduction, and walked through the FY 2027 agency request and governor’s recommendation. The governor recommended no increase for population forecast adjustments, but did recommend some statutory and policy changes, including shifting certain interest earnings to the general fund and reducing funding for some virtual school and IDLA-related items. The agency request also included one-time proposals for a high-needs special education fund and a regional service model for related services. Members asked extensive questions about how career ladder dollars are distributed, how health insurance and discretionary funds interact, why the health insurance increase in the budget differed from current plan estimates, and how facilities money under House Bill 292 is used. There were also questions about the size and use of the Idaho Career Ready Students fund, the maintenance-of-effort implications of special education funding, and whether some special education costs are being used for student housing or other noninstructional expenses. The superintendent and budget staff emphasized that many of the budget lines are formula-driven or statutorily required, that local districts determine actual staffing and spending within those formulas, and that special education costs continue to outpace available funding. Superintendent Debbie Critchfield then framed the budget request around enrollment trends, shifting demographics, and the need for more flexibility in how districts use existing dollars. She highlighted proposed categorical flexibility for some funds, changes to digital content and curriculum distribution, continued literacy gains, growth in career technical education programs funded through Idaho Career Ready Students, and the importance of endowment and Millennium Fund support. She also described the special education proposals as a temporary bridge while the state considers larger formula changes and noted a near $100 million gap between special education spending and funding. She further outlined planned federal waiver requests on assessments and flexibility, and said the department is seeking more state control over testing and reporting requirements. The committee did not take final action on the budget during this portion of the meeting. Members raised concerns about interest transfers from dedicated funds, the complexity of the funding formula, special education accountability, and whether the state should revisit the overall school funding model. Several follow-up data requests were made, including information on health insurance participation, regional special education service needs, and school contingency fund balances.

Transcript Highlights:

• I’m here with the Department of Finance.
• I'm here with the Department of Finance.
• Jennifer Louis with the Department of Finance.
• Nate Williams, Department of Finance.
• Teresa Calvert, Department of Finance.

Summary: The Assembly Budget Committee met to consider the final three-party agreement for the 2026-27 state budget and 19 implementing bills, including two budget bill juniors and 17 trailer bills. Committee leadership and administration officials described the budget as a balanced plan that reduces out-year structural deficits, maintains large reserves, and makes major investments in health care, education, housing, child care, public safety, and other core services while also responding to expected federal cuts and fiscal uncertainty. The Department of Finance outlined the package’s major components, including Medi-Cal adjustments, education funding increases, higher education changes, child care and human services updates, housing and homelessness funding, energy and transportation provisions, and tax and general government changes. Members asked questions about several provisions, including CSU enrollment targets and turnaround plans, the Prop. 98 settle-up mechanism, the plastics market development payment program, housing accountability measures, NextGen 9-1-1 implementation, and veteran services. Staff and administration witnesses explained that the higher education language is intended to improve campus-by-campus reporting and oversight, that Prop. 98 settle-up would be finalized later through the statutory certification process, and that NextGen 9-1-1 now includes one-time funding, quarterly reporting, an independent technical review, and a state audit. Members also discussed the HAP homelessness funding increase to $900 million and the balance between accountability and timely distribution of funds. The most extended exchange centered on comparisons between funding for veterans and Medi-Cal/immigrant health coverage. Republican members argued the budget spends far more on undocumented immigrant services than on veterans, while Democratic members and Finance staff responded that the comparison was misleading because many veterans’ services are federally funded and the state budget also includes dedicated veteran support. The chair and other members emphasized that the budget reflects difficult tradeoffs and that the package protects vulnerable populations, preserves health care access, and advances affordability. No final vote was described in the excerpt, but members indicated support for the overall package and said they would support it on the floor.

Transcript Highlights:

• </c> traditional finance traditional finance and<00:09:57.480><c> that</c><00:09:57.600><c> digital</
• </c><00:12:59.040><c> You've</c> pooled investment vehicle. You've pooled investment vehicle.
• </c> created this pooled investment vehicle created this pooled investment vehicle under<00:13:45.080
• </c> importantly use cases like trade finance importantly use cases like trade finance and<00:24:34.400
• </c><01:56:09.000><c> authority</c> our business finance authority our business finance authority and

Summary: The meeting opened with roll call, confirmation of a quorum, and approval of the April 6 and May 4 minutes, with minor corrections noted to the May minutes. The main presentation came from JD of Link Network, introduced by Dan Cohen, who described Link’s work with crypto.com and other market participants on tokenized money market funds and real-time settlement for institutional clients. JD gave a detailed history of his earlier work developing the Arca U.S. Treasury Fund and ArCoin, emphasizing that the project was built within existing SEC and 1940 Act frameworks and was intended to use blockchain technology for a traditional asset rather than create a crypto product. He said the effort involved years of discussions with the SEC, multiple custodians, and partners such as U.S. Bank, T-Zero Securities, and Tassat, and that the model eventually led to Link’s settlement system. He highlighted concerns that shaped the design, including regulatory compliance, privacy for institutional users, and the need to bridge traditional banking hours with 24/7 digital asset markets. The presentation also described Link’s features, including segregated and bankruptcy-remote fund structures, tokenized deposit and treasury fund settlement, and “yield in transit,” which allows interest to accrue and be distributed daily down to a two-second block. JD said the platform is being expanded for use cases such as exchange liquidity, cross-border capital movement, off-exchange collateral, stablecoin bridging, treasury management, and peer-to-peer settlement. He closed by posing policy questions for the commission about the use cases for stablecoins versus tokenized money market funds in New Hampshire and whether the state could issue or administer a security-based program with appropriate compliance controls.