2026-05-06                     House Journal                      Page 2412
SB 86                                                                                                                         
The Finance Committee considered:                                                                                               
                                                                                                                                
    CS FOR SENATE BILL NO. 86(FIN)                                                                                              
    "An Act relating to the business of money transmission; relating to                                                         
    licenses for money transmission, licensure requirements, and                                                                

2026-05-06                     House Journal                      Page 2413
    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:                                                                                             
                                                                                                                                
    HOUSE CS FOR CS FOR SENATE BILL NO. 86(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; relating to                                                               
    abandoned virtual currency; amending Rules 79 and 82, Alaska                                                                
     Rules of Civil Procedure; and providing for an effective date."                                                           
                                                                                                                                
    (HCR 17 – title change resolution)                                                                                          
                                                                                                                                
The report was signed by Representatives Schrage, Josephson, and                                                                
Foster, Co-chairs, with the following individual recommendations:                                                               
                                                                                                                                
Do pass (10):  Jimmie, Galvin, Stapp, Hannan, Allard, Moore, Bynum,                                                             
Schrage, Josephson, Foster                                                                                                      

2026-05-06                     House Journal                      Page 2414
No recommendation (1):  Tomaszewski                                                                                             
                                                                                                                                
The following fiscal note(s) apply to HCS CSSB 86(FIN):                                                                         
                                                                                                                                
2. Fiscal, Dept. of Commerce, Community, & Economic                                                                             
 Development                                                                                                                    
                                                                                                                                
CSSB 86(FIN) was referred to the Rules Committee.