2025-03-21                     House Journal                      Page 0503
HB 99                                                                                                                         
The Labor & Commerce Committee considered:                                                                                      
                                                                                                                                
    HOUSE BILL NO. 99                                                                                                           
    "An Act relating to the business of money transmission; relating to                                                         
    licenses for money transmission, licensure requirements, and                                                                

2025-03-21                     House Journal                      Page 0504
    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."                                                                                                            
                                                                                                                                
and recommends it be replaced with:                                                                                             
                                                                                                                                
    CS FOR HOUSE BILL NO. 99(L&C)                                                                                               
    (same title)                                                                                                                
                                                                                                                                
The report was signed by Representatives Hall and Fields, Co-chairs,                                                            
with the following individual recommendations:                                                                                  
                                                                                                                                
Do pass (3):  Burke, Hall, Fields                                                                                               
                                                                                                                                
No recommendation (2):  Carrick, Coulombe                                                                                       
                                                                                                                                
Amend (1):  Nelson                                                                                                              
                                                                                                                                
The following fiscal note(s) apply to CSHB 99(L&C):                                                                             
                                                                                                                                
1. Fiscal, Dept. of Commerce, Community, & Economic                                                                             
 Development                                                                                                                    
                                                                                                                                
HB 99 was referred to the Finance Committee.