2025-04-14                     Senate Journal                      Page 0855
SB 86                                                                                                                         
The Finance Committee considered SENATE BILL NO. 86 "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" and recommended it be replaced with                                                                          
                                                                                                                                
          CS FOR SENATE BILL NO. 86(FIN)                                                                                        
                                                                                                                                
Signing do pass: Senators Olson, Hoffman, Cochairs; Senators                                                                    
Merrick, Kiehl. Signing no recommendation: Senator Stedman,                                                                     
Cochair; Senator Cronk.                                                                                                         
                                                                                                                                
The following previously published fiscal information applies:                                                                  
          Fiscal Note No. 1, Department of Commerce, Community, and                                                            
          Economic Development                                                                                                  
                                                                                                                                
The bill was referred to the Rules Committee.