2023-04-14                     House Journal                      Page 0714
HB 86                                                                                                                         
The Labor & Commerce Committee considered:                                                                                      
                                                                                                                                
    HOUSE BILL NO. 86                                                                                                           
    "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 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."                                                                                           
                                                                                                                                
The report was signed by Representative Sumner, Chair, with the                                                                 
following individual recommendations:                                                                                           
                                                                                                                                
Do pass (1):  Fields                                                                                                            
                                                                                                                                
No recommendation (6):  Carrick, Saddler, Wright, Prax, Ruffridge,                                                              
Sumner                                                                                                                          
                                                                                                                                

2023-04-14                     House Journal                      Page 0715
The following fiscal note(s) apply:                                                                                             
                                                                                                                                
1. Fiscal, Dept. of Commerce, Community, & Economic                                                                             
 Development                                                                                                                    
                                                                                                                                
HB 86 was referred to the Finance Committee.