2024-04-26                     Senate Journal                      Page 2318
SB 84                                                                                                                         
The Finance Committee considered SENATE BILL NO. 84 "An Act                                                                     
relating to the business of money transmission; relating to money                                                               
transmission licenses, licensure requirements, and registration through                                                         
the Nationwide Multistate Licensing System and Registry; relating to                                                            
the use of virtual currency for money transmission; relating to                                                                 
authorized delegates of a licensee; relating to acquisition of control of                                                       
a license; relating to record retention and reporting requirements;                                                             
authorizing the Department of Commerce, Community, and Economic                                                                 
Development to cooperate with other states in the regulation of money                                                           
transmission; relating to permissible investments; relating to violations                                                       

2024-04-26                     Senate Journal                      Page 2319
and enforcement of money transmission laws; relating to money                                                                   
transmission license exemptions; relating to payroll processing                                                                 
services; repealing currency exchange licenses; and providing for an                                                            
effective date" and recommended it be replaced with                                                                             
                                                                                                                                
          CS FOR SENATE BILL NO. 84(FIN) "An Act                                                                                
          relating to the business of money transmission;                                                                       
          relating to licenses for money transmission, licensure                                                                
          requirements, and registration through a nationwide                                                                   
          multistate licensing system; relating to the use of                                                                   
          virtual currency for money transmission; relating to                                                                  
          authorized delegates of a licensee; relating to                                                                       
          acquisition of control of a license; relating to record                                                               
          retention and reporting requirements; authorizing the                                                                 
          Department of Commerce, Community, and                                                                                
          Economic Development to cooperate with other                                                                          
          states in the regulation of money transmission;                                                                       
          relating to permissible investments; relating to                                                                      
          violations and enforcement of money transmission                                                                      
          laws; relating to exemptions to money transmission                                                                    
          licensure requirements; relating to payroll processing                                                                
          services; relating to currency exchange licenses;                                                                     
          amending Rules 79 and 82, Alaska Rules of Civil                                                                       
          Procedure; and providing for an effective date."                                                                      
                                                                                                                                
Signing do pass: Senator Olson, Cochair; Senators Kiehl, Bishop.                                                                
Signing do not pass: Senator Wilson. Signing no recommendation:                                                                 
Senator Merrick.                                                                                                                
                                                                                                                                
The following fiscal information was published today:                                                                           
          Fiscal Note No. 2, Department of Commerce, Community, and                                                            
          Economic Development                                                                                                  
                                                                                                                                
The bill was referred to the Rules Committee.