2026-05-11                     House Journal                      Page 2495
SB 86                                                                                                                         
The following was read the second time:                                                                                         
                                                                                                                                
     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; amending Rules                                                           
     79 and 82, Alaska Rules of Civil Procedure; and providing for an                                                           
     effective date."                                                                                                           
                                                                                                                                
                                                                                                                                

2026-05-11                     House Journal                      Page 2496
with the:                                                    Journal Page                                                       
                                                                                                                                
 FIN RPT HCS(FIN) NEW TITLE 10DP 1NR 2412                                                                                       
 TITLE CHANGE: HCR 17 2412                                                                                                      
 FN2: (CED) 2412                                                                                                                
                                                                                                                                
Representative Kopp moved and asked unanimous consent that the                                                                  
following committee substitute be adopted in lieu of the original bill:                                                         
                                                                                                                                
     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."                                                           
                                                                                                                                
Objection was heard and withdrawn. There being no further objection,                                                            
HCS CSSB 86(FIN) was adopted.                                                                                                   
                                                                                                                                
Representative Kopp moved and asked unanimous consent that                                                                      
HCS CSSB 86(FIN) be considered engrossed, advanced to third                                                                     
reading, and placed on final passage.                                                                                           
                                                                                                                                
There was objection.                                                                                                            
                                                                                                                                
HCS CSSB 86(FIN) will advance to third reading on the May 12                                                                    
calendar.