Transcript Highlights:

• So I came in February to testify in support of House Bill 2230, and that is a bill that we have no senators
• And as a result, there is solid science to show that cursive supports diverse learners.
• Demonstrate how data is transmitted through multiple methods of encryption.
• Demonstrate how data is transmitted through multiple methods of encryption.
• We very strongly support the approach of that bill.

Summary: The Joint Committee on Education heard testimony focused on the effects of educational technology and screen time on K-12 students, with particular attention to House Bill 2230 and related policy changes. Dr. Mariam Mohamed Connie argued that one-to-one devices, digital instruction, and early screen exposure harm children’s learning, attention, physical development, and mental health, and that schools should return to more analog methods such as paper, handwriting, cursive, phonics, and print-based materials. She cited international and national assessments, research on handwriting versus typing, and her experience on the Springfield Public Schools board, saying the district saw improved MAP scores after scaling back Chromebook use in elementary grades and reintroducing books and cursive. Several witnesses and committee members discussed the practical and budgetary implications of reducing screen use. A Springfield administrator said many teachers were trained in technology-heavy environments and would need support to teach without relying on devices, and she estimated Chromebooks and related infrastructure cost more per student than textbooks, manipulatives, and paper. Another witness from the Missouri National Education Association supported the bill’s direction, saying elementary years are critical and that the state should signal a move away from overuse of screens while allowing districts time to adjust. Committee members emphasized local control, the need for a task force, and the importance of involving DESE because state testing and standards currently drive much of the digital use in schools. The discussion also covered Missouri Learning Standards, computer science requirements, and the tension between digital testing and classroom instruction. Speakers criticized the fact that MAP testing is digital and adaptive, arguing it forces schools to keep devices in elementary grades just to prepare students for state assessments. The chair and other members said the bill was intentionally nonprescriptive, aiming instead to create a task force and encourage local districts to develop screen-time policies, especially for elementary students. The hearing ended without a vote, and the committee adjourned after public comment.

Transcript Highlights:

• Uh, this visit of course demonstrates how crucial water infrastructure funding is for improving water
• ><00:03:04.560><c> of</c><00:03:04.800><c> course</c><00:03:05.200><c> uh</c><00:03:05.280><c> demonstrates
• </c><00:03:05.760><c> how</c> this visit of course uh demonstrates how this visit of course uh demonstrates
• This funding would support those communities in addressing water needs.
• This project will provide additional space and resources to support increased demand for investigatory

Keywords: 1183, house

Transcript Highlights:

• Over the last six years, telework has repeatedly demonstrated its effectiveness in supporting productivity
• Support of AB 1729, and I urge your support with an aye vote. Thank you.
• aye support.
• Action, in support. Nicole Marrude. RCA Action in support.
• We support.

Summary: The committee heard extensive testimony on AB 1729, which would update California state telework policy. The author and many unionized state workers argued that telework has improved productivity, reduced emissions and commuting costs, saved the state money on office space, and should be governed by written, evidence-based departmental policies rather than blanket return-to-office mandates. Supporters emphasized flexibility, morale, and the need for transparency through a public dashboard. There was no opposition testimony, and the bill was later moved on a 2-1 vote, with the item placed on call. Members also heard AB 805, which would create a Career Apprenticeship Bridge Program to connect high school career technical education with registered apprenticeships. The author and supporters said the bill implements recommendations from the California Youth Apprenticeship Model report and would expand earn-and-learn pathways, especially for youth facing barriers. The bill passed the committee 3-0 and was placed on call. Two workers’ compensation and labor-relations bills drew sharp opposition. AB 1576 would reform the Subsequent Injury Benefit Trust Fund; supporters said it would reduce litigation and employer assessments, while opponents argued it did not go far enough and preferred the administration’s trailer bill. AB 1582 would make it an unfair labor practice for UC or other higher education employers to disregard arbitration decisions on contracting out; supporters said it would protect arbitration outcomes for service workers, while UC argued it would interfere with bargaining agreements and threaten patient and student services. Both bills were moved on 2-1 votes and placed on call. After quorum was established, the committee also advanced AB 1630, allowing union representatives to invite bargaining-unit members to observe meet-and-confer sessions remotely; AB 2650, a CalSavers cleanup bill to improve retirement savings access and administration; AB 2054, expanding paid family leave eligibility for relatives of military service members on domestic duty; AB 2157, making permanent the Displaced Oil and Gas Workers Fund pilot program; and AB 1838, requiring bidders on local public works projects to disclose recent wage-and-hour violations. AB 1630 and AB 2157 were both placed on call after divided votes, while AB 2650 and AB 2054 passed 2-1 and 3-0 respectively, and AB 1838 was placed on call after a 1-1 vote. The transcript ends as the committee begins AB 2682, which would conform the appeal process for transportation network company driver unionization law.

Transcript Highlights:

• I'm in support. I'm Teresa Wynn, a member of UAW 4811, in support.
• Mitch Steiger with CFT, in support. Thank you. Mitch Steiger with CFT, in support.
• I also am in support of SB 1203. Also, I'm in support of SB 1203. Good afternoon.
• I fully support SB 1203. Thank you. I fully support SB 1203. Thank you.
• I support SB 1284. Good afternoon. I'm Alexander Nunez, and I support SB 1284.

Keywords: 988, house, all

Transcript Highlights:

• And so by demonstrating that you, you meet at the fence line those standards, you're demonstrating that
• I also want to be clear, I support mining. I support mining in Texas.
• I'm testifying in support of House Bill 2815.
• I, I, I'm, I, I support the concept. I support the idea.
• We support them, but none of them contribute to the tax base we need to support our growing infrastructure

Bills: HB 1520, HB 1525, HB 1530, HB 1535, HB 2068, HB 2091, HB 2347, HB 2372, HB 2805, HB 2815, HB 2867, HB 3154, HB 3482, HB 3483, HB 3663, HB 3781, HB 3901, HB 3915, HB 4135, HB 4153, HB 4158, HB 4329, HB 4331

Keywords: Angelina and Neches River Authority, river authority, Sunset Advisory Commission, Texas Sunset Act, Special District Local Laws Code, local government, natural resources, board of directors, director training, board governance, public testimony, open meetings, public information, conflict of interest, ethics, complaint system, general manager, board president, staggered terms, removal of director

Transcript Highlights:

• And so I strongly support the idea of pausing and... ...strongly support the idea of pausing and letting
• And so I strongly support the idea of pausing and strongly support the idea of pausing and letting us
• We have demonstrated our ability to carry live 911 traffic since June 1, 2023.
• These are foundational services that support every 911 call in California.
• They call our support line.

Summary: The Emergency Management Committee held an oversight hearing on California’s Next Generation 911 rollout, focusing on Cal OES’s decision to move away from the original regional vendor model toward a statewide provider model. Cal OES said the regional architecture created complexity at the boundaries between regions, leading to misrouted calls, transfer problems, and degraded audio, and that a statewide model would better align with national standards and provide a more reliable, secure system. The Legislative Analyst’s Office urged the Legislature to pause further implementation until it has more information on the problems, tradeoffs, costs, and oversight needs, and recommended stronger reporting and possibly independent technical review before proceeding. Committee members pressed Cal OES on accountability, cost, testing, vendor selection, and whether the current system is safe. Cal OES said the project has cost about $456 million so far, most of it recurring service fees, and that 23 PSAPs had transitioned voice traffic while more than 440 total PSAPs remain in the state. Officials said the current system is operating, that a pause would not put the public at risk, and that the statewide conversion could be completed by summer 2030. Members and the LAO raised concerns about whether Cal OES has enough technical oversight and whether contract language alone is sufficient to prevent repeat problems. The vendor panel largely defended the regional model and argued that the existing system is already built, tested, and ready to expand. NGA 911, Synergem, Lumen, and Atos said the regional architecture provides redundancy and resilience, that early problems were often tied to legacy-system integration, carrier issues, or training rather than the regional design itself, and that a statewide redesign would add cost and delay. Atos said it serves as the statewide backbone and backup and has already carried live traffic, while vendors emphasized that they support continued modernization but believe California should build on the current regional investment rather than replace it.

Transcript Highlights:

• In support, I'm Aaron Chijewski with Food Lifeline.
• Your support will have lasting impact.
• and the Governor's support.
• All four of these projects have broad-based support, including tribal support.
• similar expressions of support from a tribe.

Summary: The committee first heard a briefing on the proposed Senate capital budget, Substitute Senate Bill 6003, which would spend about $723 million total using debt-limit bonds, Climate Commitment Act funds, and other cash resources. Staff described major investments in housing and homelessness, human services, local infrastructure, flood response, water conservation and clean energy, K-12 school modernization and seismic work, and higher education projects. Members then took public testimony from a wide range of advocates and project sponsors, most of whom urged the Senate to preserve or increase funding for specific projects in the final budget, including affordable housing, permanent supportive housing, child care facilities, food banks, behavioral health and substance use treatment centers, tribal courthouse relocation, school modernization, community colleges, university projects, floodplain restoration, community forests, and local civic or cultural facilities. Several witnesses also asked the Senate to match or approach House funding levels on items such as the Housing Trust Fund, permanent supportive housing, the Community Forest Program, Floodplains by Design, and CCA-supported clean energy and water projects. The chair noted that amendments to the capital budget were due the next day at noon. The committee then received a briefing on Engrossed Second Substitute House Bill 2251, which would restructure Climate Commitment Act accounts by repealing three existing accounts and replacing them with two new accounts: a CCA operating account and a CCA capital account. Staff explained that the bill would preserve most existing uses while changing revenue distribution formulas, capping Ecology administrative costs, expanding allowable uses for EV-related costs, housing, and carbon capture/sequestration, and changing reporting and tribal consultation provisions. The bill also shifts some reporting from annual to biannual and modifies the thresholds for tribal-supported and overburdened-community investments. The fiscal note was described as relatively small, with the main impact being the revised revenue allocation structure. Public testimony on the CCA bill was mixed. Supporters, including the League of Women Voters, said the restructuring better aligns spending with the intent of the CCA and could improve investments for tribes and overburdened communities. Critics, including the Washington Policy Center, argued the bill still lacks strong requirements to ensure CCA spending is effective and objected to reducing the frequency of the state’s climate-spending report. No votes were taken during the portion of the meeting provided.

Transcript Highlights:

• Please support AB 100, particularly around the Medi-Cal budget.
• care costs are a challenge across the country, which is why Health Access is working to support the
• We also support this important work in AB-100, just noting, as was noted during the hearing, work and
• We would just note that this helps support our FFA resource families, and there's an ongoing crisis for
• So we're here today in support of the provisions of SB and AB 100 that allow for the backfill of the

Summary: The Assembly Budget Committee held an informational hearing on SB 100/AB 100, the early action budget bills, with a focus on Medi-Cal funding, wildfire recovery, and several smaller budget adjustments. The Department of Finance explained that the bill would add $2.8 billion General Fund and $8.3 billion federal funds for Medi-Cal, along with other items including wildfire-related local assistance for Los Angeles County, property tax backfills for fire-damaged local agencies, Cal OES wildfire monitoring authority, nonprofit security grants, the Property Tax Postponement Fund, FARMER and Clean Cars for All funding, foster family home insurance claims, Proposition 98 technical assistance for LA wildfire-impacted schools, teacher credentialing authority, and Proposition 4 climate bond appropriations for wildfire and forest resilience projects. Much of the member discussion centered on rising Medi-Cal costs, the recent $3.4 billion cash-flow loan, and whether the new appropriation would cover payments through June. Finance said the new funds were for program costs and cash flow, not repayment of the loan, and that no additional loan authority remained. Members also debated the causes of higher Medi-Cal spending, including expanded eligibility, higher enrollment, pharmacy costs, and federal policy changes. The LAO noted that forecasting errors are not unusual but that current revisions are somewhat higher than typical, though not unprecedented. Several members emphasized that Medi-Cal supports access to care and hospital stability, while others raised concerns about sustainability and future federal cuts. Public commenters largely supported the bill, especially the Medi-Cal funding and wildfire-related provisions. Health and labor advocates argued that the program is functioning as intended by covering more low-income Californians and preventing uncompensated care. Representatives of special districts and the Altadena Library District supported the property tax backfill provisions tied to the Eaton fire. The hearing ended without a vote, with the chair noting that the committee would adjourn for floor session and that the Assembly would vote on one of the early action bills later that morning.

Transcript Highlights:

• We have a support-if-amended position, strongly support the intent of this bill.
• Thank you, support.
• Thank you, support.
• I can't support the bill.
• I thought they were supported, or other support... Are they listed in the post?

Summary: The committee heard SB 872, which would direct $300 million annually for 20 years to repair Central Valley subsidence damage and Delta levees to protect State Water Project deliveries. The author and supporters said the bill is needed to safeguard water for 27 million Californians, prevent threats to life and billions in infrastructure, and address long-standing levee and canal vulnerabilities. Testimony in support came from Restore the Delta, the Central Coast Water Authority, and a broad coalition of water agencies, environmental groups, local governments, and business interests; one organization, the California Chamber of Commerce, supported if amended to include federal conveyance infrastructure. No opposition witnesses appeared. Members from both parties praised the bipartisan coalition and discussed funding, beneficiary-pays concerns, and the need to prioritize water infrastructure. The committee voted 5-0 to pass SB 872 as amended to Appropriations, with the bill placed on call. The committee then heard SB 1305, a study bill on the feasibility of reintroducing the California grizzly bear. The author and tribal co-sponsors framed the measure as a science-based, consultation-driven roadmap that would not authorize reintroduction but would evaluate habitat, impacts, and implementation. Supporters, including tribal representatives, conservation groups, and animal welfare organizations, emphasized the grizzly’s cultural significance, ecological role, and the value of planning for coexistence. Opposition came from retired and current law enforcement, county officials, ranching and hunting groups, and rural representatives, who raised public safety, staffing, livestock, and wildlife-management concerns, arguing the Department of Fish and Wildlife lacks resources for another apex predator. Committee members debated whether risk, public safety, local control, and potential reintroduction areas should be addressed earlier in the process. The author agreed to consider amendments on those points and on funding and local authority. The committee voted 4-1 to pass SB 1305 as amended to Appropriations, with the bill held on call. The committee also heard SB 1079, which would create a Cal Fire Fire Innovation Unit to identify firefighter needs, test new technologies, and speed deployment of successful wildfire tools. The author said the bill would formalize a pipeline from pilot projects to statewide use and build on existing Cal Fire technology efforts. Support came from Megafire Action, Fireworks, Aurora Tech, and the Orange County Fire Authority; the California Association of Realtors supported if amended to allow nonprofits to administer grants directly to homeowners. With no opposition testimony, the bill was moved on a 2-0 vote and held on call pending additional members. The committee later took up SB 997, a district bill for the North Fork Kings Groundwater Sustainability Agency that would grant lien authority so it can enforce groundwater fees and sustainability plan requirements without relying on civil litigation. Support came from water contractors, rural counties, and county associations; members discussed whether similar authority should be extended to other GSAs. The bill was moved on a 2-0 vote to Judiciary and held on call.

Transcript Highlights:

• While we originally requested funding to support 3% enrollment growth across the 2526 and 2627, To support
• harmless districts, mandating the paid pregnancy proposal, supporting fully funding growth, supporting
• Finally, FAC supports the continued investment for the student support block grant. Thank you.
• We support the SCFF COLA increase to 4.8% and the $100.6 million Student Support Block Grant.
• Aaron Kunst, basic needs advocate, strongly supports the Student Support Block Grant and increasing it

Keywords: 987, senate, all

Transcript Highlights:

• The vast majority of riders are very involved in a lot of those, whether it's supporting disadvantaged
• President, resounding in support.
• I urge that you support this motion. Thank you. Further remarks, Senator McEwen. Thank you, Mr.
• President, rising in strong support of this resolution.
• I distinctly remember that day in 2022 and House of Senate... ...rising in strong support of this resolution

Summary: The Senate approved the previous day’s Journal and referred committee reports and newly introduced measures as designated. Among the introductions, Senate Bill 6354 was read and sent to the Committee on Ways and Means. The chamber then moved to resolutions. Senate Resolution 8692, recognizing Motorcycle Safety Awareness Week/Month, was adopted after remarks emphasizing motorcycle safety, the charitable work of riders, and the need for drivers to watch for motorcycles and use caution. Senate Resolution 8675, recognizing the shared democratic values of Washington State and Ukraine, was also adopted. Supportive remarks highlighted Ukraine’s endurance, the impact of the war on civilians and soldiers, and solidarity with Ukrainian Americans and the people of Ukraine. After adopting the Ukraine resolution, the Senate welcomed members and representatives of the United Ukrainian community in the gallery. The session then adjourned without objection until 12:30 p.m. on Friday, February 20, 2026.

Transcript Highlights:

• The LEAs here must demonstrate strong community engagement, commitment to integrated student support,
• Hands-on support to transform systems and outcomes.
• I think our teachers felt more supported.
• The first pillar is integrated student supports.
• And I just want to actually speak and support briefly, strong support of community schools because of

Summary: The joint informational and oversight hearing focused on community schools in California, with members emphasizing that the purpose was to examine effectiveness, implementation, and sustainability rather than the Governor’s budget proposal. The California Department of Education described the California Community Schools Partnership Program, created in 2021 and funded with more than $4 billion, including planning, implementation, extension, and county coordination grants. Officials said nearly 2,500 schools are participating and highlighted the statewide technical assistance structure, including the State Transformational Assistance Center, eight regional centers, county offices, and CDE support. Researchers from the Learning Policy Institute and UCLA presented early findings and implementation data. LPI reported reductions in chronic absenteeism and suspensions, along with gains in math and English language arts, with especially large benefits for Black students and other historically underserved groups. UCLA described the Annual Progress Report as a statewide improvement tool showing growth in capacity-building, shared decision-making, whole-child supports, and continuous improvement. Members asked about how the reports measure outcomes, how to interpret outliers, and how to distinguish community schools effects from other concurrent initiatives; presenters said matched comparison methods and deeper case-study work are being used, with additional statewide findings expected in June. Panelists from Oakland Unified, LAUSD/UTLA, San Diego Unified, and advocacy organizations described key elements of success: integrated student supports, strong family and student engagement, collaborative leadership, community partnerships, and school-site decision-making. They gave examples such as wellness centers, dual enrollment, student senates, parent leadership, and community campaigns that built trust and increased participation. Members also raised concerns about sustainability, implementation fidelity, and whether community schools improve participation in LCAP processes. Presenters said major barriers include unclear early guidance, the need for a mindset shift away from top-down models, and uncertainty about long-term funding for coordinators and other staff. The panel’s recommendations centered on stable ongoing funding, stronger technical assistance, shared governance, and embedding community schools practices into district and county systems.

Transcript Highlights:

• That's why I strongly urge your support for Senate Bill 1192.
• Our organization strongly supports SB12.
• This includes supporting families and students in support services, academics, and throughout their educational
• They advocate for equity and they support vulnerable families.
• Furthermore, he had support from those who listened to him.

Bills: SB12, SB226, SB413, SB1049, SB1191, SB2398, SB571, SB2920, SB 12

Keywords: parental rights, education, social transitioning, diversity, equity, inclusion, school policy, student clubs, residency, public schools, child safety placement, enrollment, education code, school boards, transparency, public meetings, attendance, recording, released time, religious instruction

Transcript Highlights:

• Teachers will not stay in places where they are not supported.
• So the way that those are supported with district funding and the way that teachers are supported there
• We recommend continued support for the GSTG program and to fully support the existing demands, and also
• So we do strongly support issue number five funding.
• This is why we are strongly supporting.

Keywords: 988, house, all

Transcript Highlights:

• </c><00:09:48.640><c> these</c><00:09:49.120><c> common</c> I'm asking him to support these common I'm
• asking him to support these common sense<00:09:50.480><c> proposals</c><00:09:51.120><c> that</c><00
• </c><00:18:35.600><c> that</c> every opportunity to demonstrate that every opportunity to demonstrate
• Yeah, I'll stop there. >> Do you have local law enforcement support on the bill?
• </c> support on the bill? support on the bill?

Keywords: 919, house, all

Summary: Witnesses and lawmakers discussed the impact of “Operation Metro Surge” and related federal immigration enforcement in Minnesota, describing it as a severe constitutional and humanitarian crisis. John Beler of the ACLU of Minnesota said the organization had received more than 700 reports of constitutional violations and argued the state should protect sensitive spaces, create legal remedies, and limit state involvement in federal surveillance and enforcement. Sen. Erin Maye Quade and other speakers said the operation was still ongoing, caused family separations, economic harm, and trauma in communities, and called on Minnesota Republicans to break with the Trump administration and support accountability. Several business owners testified about direct effects on restaurants and construction workforces. Hano JD Delgado, a restaurant owner, said ICE activity had frightened workers, led to closures and lost business, and recounted alleged mistreatment of employees and himself, including detentions and an incident involving a 15-year-old U.S. citizen. Sarah Lawitch, a Cottage Grove contractor, said her crews and projects were disrupted because workers feared leaving home and that lawmakers should protect constitutional rights and local businesses. Speakers repeatedly framed the issue as racial profiling and an attack on legal residents and citizens, not just undocumented immigrants. Rep. Lee Fininky said she is carrying two bills aimed at federal and local law enforcement practices: one would prohibit officers from wearing masks on duty except for limited safety or health exceptions, and another would require vehicles used to detain people to be clearly marked and equipped with safety features. She and other DFL speakers also discussed a broader package of bills, including a proposal to let Minnesotans hold the federal government accountable and a bill requiring the BCA to investigate shootings. In response to questions, they said they were seeking Republican support but expected the measures to face legal challenges; no votes or formal committee action were taken in the excerpt.

Transcript Highlights:

• And so we want to thank the committee for the support, and I state our hope for continued support.
• And so we want to thank the committee for the support, and I state our hope for continued support.
• And so we want to thank the committee for the support, and I state our hope for continued support.
• And so we want to thank the committee for the support, and I state our hope for continued support.
• Committee for the support, and I state our hope for continued support.

Keywords: 1187, senate, all

Transcript Highlights:

• </c><00:05:17.199><c> this</c> Anderson and Hill for supporting this Anderson and Hill for supporting
• </c> maintaining program stability supporting maintaining program stability supporting lifelong<00:51
• </c><01:07:22.119><c> student</c> offset the costs that support student offset the costs that support
• </c> all of our education support all of our education support professionals<01:37:05.679><c> are</c>
• </c> PA professionals and education support PA professionals and education support professionals<01:37

Bills: HF6, HF52, HF53

Keywords: education, literacy, science of reading, school performance, funding flexibility, innovation zones, equity and inclusion, HF52, New Germany, wastewater treatment, wastewater facility, sewer infrastructure, capital investment, bonding bill, state bonds, Public Facilities Authority, municipal infrastructure, water quality, sanitation, sewage treatment

Transcript Highlights:

• Alyssa White waves in support. Laura Munoz waves in support. Julia Kolarosi waves in support.
• Yarraez-Mendez Zamora waves in support. Evelyn Chower waves in support.
• Waves in support.
• in support; Luna Plaza, waves in support; waves in support; waves in support.
• Luna Plaza waves in support. Lin-Yang waves in support. La Quanda de Flanore waves in support.

Keywords: 999, senate, all

Transcript Highlights:

• We have a deadline for June 1 of 2026 that all projects must meet a demonstration. projects must meet
• a demonstration that they will complete their projects before the year-end 2026.
• issued a request for project proposals to develop a statewide middle-mile broadband network that would support
• project proposals and related materials. project proposals and related materials for applications to support
• Well, under the demonstration project, I was able to put four of them around in my district in the state

Keywords: 924, joint, all

Transcript Highlights:

• a month for my support.
• This attorney was making his living demonstrating through testimony, explanations of the terms in the
• </c><01:14:25.199><c> through</c> making his living demonstrating through making his living demonstrating
• </c><01:19:15.840><c> that</c> produce the evidence to demonstrate that produce the evidence to demonstrate
• </c> assets and and demonstrating assets and and demonstrating friendliness<01:52:06.239><c> towards<

Keywords: 1189, house, all

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