Legislature(2025 - 2026)SENATE FINANCE 532
04/01/2025 09:00 AM Senate FINANCE
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| Audio | Topic |
|---|---|
| Start | |
| SB86 | |
| SB29 | |
| SB24 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| + | SB 86 | TELECONFERENCED | |
| + | SB 29 | TELECONFERENCED | |
| + | SB 24 | TELECONFERENCED | |
SENATE FINANCE COMMITTEE
April 1, 2025
9:01 a.m.
9:01:12 AM
CALL TO ORDER
Co-Chair Hoffman called the Senate Finance Committee
meeting to order at 9:01 a.m.
MEMBERS PRESENT
Senator Lyman Hoffman, Co-Chair
Senator Donny Olson, Co-Chair
Senator Bert Stedman, Co-Chair
Senator Mike Cronk
Senator James Kaufman
Senator Jesse Kiehl
Senator Kelly Merrick
MEMBERS ABSENT
None
ALSO PRESENT
Robert Schmidt, Director, Division of Banking and
Securities, Department of Commerce, Community, and Economic
Development; Senator Jesse Bjorkman, Sponsor; Senator Gary
Stevens, Sponsor; Tim Lamkin, Staff, Senator Gary Stevens;
Dr. Rob Crane, Board Chair, Preventing Tobacco Addiction
Foundation.
PRESENT VIA TELECONFERENCE
Adam Atlas, Advisor, Money Services Business Association,
Maryland; Adam Fleischer, Counsel, Money Services
Roundtable, Washington DC; Jason Bunch, Former Chair, Big
Game Commercial Services Board, Kodiak; Aaron Bloomquist,
Chair, Big Game Commercial Services Board, Palmer; Sam
Rohrer, Alaska Professional Hunters Association, Kodiak;
Mike Bridges, Community Advocate, American Cancer Society
and Retired Brigadier General, Anchorage; Trevor Storrs,
President and Chief Executive Officer, Alaska Children's
Trust, Anchorage; Rebecca Cole, Self, Wasilla; Valeria
Delgado, Self, Anchorage; Mark Sundquist, Owner, Hillside
and Southside Chevron, Anchorage; Alex McDonald, Self,
Fairbanks; Beverly Wooley, Self, Big Lake; Shaun D'Sylva,
Owner, Fatboy Vapors, Seattle; Aaron Osterback, Self,
Anchorage; Carrie Nyssen, Senior Director of Advocacy,
American Lung Association, Vancouver, Washington; Annette
Vrolyk, Self, Eagle River; Scott McCumby, Valdez Police
Department, Valdez; Don Enslow, Volunteer, Providence
Alaska Hospital, Anchorage; Tabitha Karpow, Self,
Anchorage; Ken Griffin, Self, Wasilla.
SUMMARY
SB 24 TOBACCO/NICOTINE/E-CIG AGE; E-CIG TAX
SB 24 was HEARD and HELD in committee for further
consideration.
SB 29 BIG GAME COMMERCIAL SERVICES BOARD
SB 29 was HEARD and HELD in committee for further
consideration.
SB 86 MONEY TRANSMISSION; VIRTUAL CURRENCY
SB 86 was HEARD and HELD in committee for further
consideration.
Co-Chair Hoffman discussed the agenda. He relayed that it
was the
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."
9:02:22 AM
Senator Jesse Kiehl, Sponsor, explained that SB 86 was a
modernization of laws related to cryptocurrency. He
mentioned other customer protections in the bill. He
discussed a tiered fee structure that would be based on
volume. He thought the bill was well crafted to avoid
double-regulation. He clarified that nothing in the bill
stifled innovation. There were no rules and no limits on
risk Alaskans could take on Bitcoin. He mentioned that
DCCED Director of Banking and Securities was present.
9:10:43 AM
Senator Kaufman asked if there was any situation in which
the transfer of money was not included in the bill.
Senator Kiehl used the example of a payroll processor,
which was not included in the bill.
9:13:20 AM
ROBERT SCHMIDT, DIRECTOR, DIVISION OF BANKING AND
SECURITIES, DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC
DEVELOPMENT, explained that his division was responsible
for regulating the issues outlined in the bill. He stated
that the first mobile payment application was when PayPal
released its beta version in 2008 for the Blackberry, and
stated that most of what was money transmission currently
was not present when the law was written. He expressed that
the current statutory framework in the state, and affirmed
that the bill would protect consumers as the sponsor
suggested. He used the example of selling artwork.
9:19:32 AM
Mr. Schmidt addressed a fiscal note from DCCED Division of
Banking and Securities, OMB Component 2808. He was pleased
to report that the program that regulated money
transmission did not pay for itself. He described the
industry as one of "minnows and whales", and emphasized
that the net effect of the bill would be positive for the
state.
9:27:04 AM
Mr. Schmidt summarized that the committee would hear from
industry representatives.
Co-Chair Hoffman OPENED public testimony.
9:28:49 AM
ADAM ATLAS, ADVISOR, MONEY SERVICES BUSINESS ASSOCIATION,
MARYLAND (via teleconference), testified in support of the
bill.
9:32:55 AM
ADAM FLEISCHER, COUNSEL, MONEY SERVICES ROUNDTABLE,
WASHINGTON DC (via teleconference), spoke in support of the
legislation.
Co-Chair Hoffman CLOSED public testimony.
Senator Kiehl addressed the fiscal note.
SB 86 was HEARD and HELD in committee for further
consideration.
SENATE BILL NO. 29
"An Act relating to an executive administrator for the
Big Game Commercial Services Board."
9:39:21 AM
SENATOR JESSE BJORKMAN, SPONSOR, introduced the
legislation.
9:42:30 AM
JASON BUNCH, FORMER CHAIR, BIG GAME COMMERCIAL SERVICES
BOARD, KODIAK (via teleconference), testified on some
details of the bill.
9:45:56 AM
Senator Kaufman remarked on some efficiencies referenced by
the testifier. He asked more detail about the cost drivers
related to the bill.
Mr. Bunch explained that the costs would be investigative
costs. He explained that from 2016 to 2022, the
investigative costs were approximately 35 percent of
revenue.
Senator Kaufman surmised that the cost would be greatly
reduced by the efficiencies proposed in the bill.
Mr. Bunch responded that there was some cost recovery
because of lack of administrative errors by the licensee.
9:49:02 AM
AARON BLOOMQUIST, CHAIR, BIG GAME COMMERCIAL SERVICES
BOARD, PALMER (via teleconference), provided testimony on
the legislation.
Co-Chair Hoffman OPENED public testimony.
9:52:53 AM
SAM ROHRER, ALASKA PROFESSIONAL HUNTERS ASSOCIATION, KODIAK
(via teleconference), spoke in support of the bill.
Co-Chair Hoffman CLOSED public testimony.
Co-Chair Stedman reviewed the fiscal note.
Senator Bjorkman thanked the committee.
SB 29 was HEARD and HELD in committee for further
consideration.
9:55:45 AM
AT EASE
9:58:14 AM
RECONVENED
SENATE BILL NO. 24
"An Act relating to tobacco, tobacco products,
electronic smoking products, nicotine, and products
containing nicotine; raising the minimum age to
purchase, exchange, or possess tobacco, a product
containing nicotine, or an electronic smoking product;
relating to the tobacco use education and cessation
fund; relating to the taxation of electronic smoking
products and vapor products; and providing for an
effective date."
9:58:33 AM
SENATOR GARY STEVENS, SPONSOR, introduced himself and the
bill. He
10:01:31 AM
TIM LAMKIN, STAFF, SENATOR GARY STEVENS, explained the
bill.
10:05:04 AM
MIKE BRIDGES, COMMUNITY ADVOCATE, AMERICAN CANCER SOCIETY
AND RETIRED BRIGADIER GENERAL, ANCHORAGE (via
teleconference), spoke in support and detailed the benefits
of the bill.
10:08:38 AM
AT EASE
10:09:09 AM
RECONVENED
10:09:17 AM
DR. ROB CRANE, BOARD CHAIR, PREVENTING TOBACCO ADDICTION
FOUNDATION, testified on the bill.
10:16:27 AM
Senator Kiehl wondered when Dr. Crane had left the Ohio
State University College of Medicine.
Dr. Crane replied that it was three years prior.
10:17:11 AM
TREVOR STORRS, PRESIDENT AND CHIEF EXECUTIVE OFFICER,
ALASKA CHILDREN'S TRUST, ANCHORAGE (via teleconference),
spoke to the bill.
Co-Chair Hoffman OPENED public testimony.
10:20:10 AM
REBECCA COLE, SELF, WASILLA (via teleconference), spoke in
support of the bill.
10:21:39 AM
VALERIA DELGADO, SELF, ANCHORAGE (via teleconference),
testified in support of the legislation.
10:23:36 AM
MARK SUNDQUIST, OWNER, HILLSIDE AND SOUTHSIDE CHEVRON,
ANCHORAGE (via teleconference), spoke against the bill.
10:27:17 AM
ALEX MCDONALD, SELF, FAIRBANKS (via teleconference),
testified against the legislation.
10:30:26 AM
BEVERLY WOOLEY, SELF, BIG LAKE (via teleconference), spoke
in support of the bill.
10:32:47 AM
SHAUN D'SYLVA, OWNER, FATBOY VAPORS, SEATTLE (via
teleconference), testified against the bill.
10:35:39 AM
AARON OSTERBACK, SELF, ANCHORAGE (via teleconference),
testified in support of the legislation.
10:38:23 AM
CARRIE NYSSEN, SENIOR DIRECTOR OF ADVOCACY, AMERICAN LUNG
ASSOCIATION, VANCOUVER, WASHINGTON (via teleconference),
spoke in support of the bill.
10:40:39 AM
ANNETTE VROLYK, SELF, EAGLE RIVER (via teleconference),
spoke in opposition to the bill.
10:42:25 AM
SCOTT MCCUMBY, VALDEZ POLICE DEPARTMENT, VALDEZ (via
teleconference), testified in support of the legislation.
10:44:20 AM
DON ENSLOW, VOLUNTEER, PROVIDENCE ALASKA HOSPITAL,
ANCHORAGE (via teleconference), spoke in support of the
bill.
10:46:01 AM
TABITHA KARPOW, SELF, ANCHORAGE (via teleconference),
testified in support of the bill.
10:47:57 AM
KEN GRIFFIN, SELF, WASILLA (via teleconference), spoke
against the bill.
10:50:10 AM
Co-Chair Hoffman CLOSED public testimony.
10:50:19 AM
Co-Chair Stedman reviewed the fiscal notes.
10:52:00 AM
Senator Stevens thanked the committee. He acknowledged the
issues that were facing the committee.
Co-Chair Hoffman set an amendment deadline for all the
bills heard on Friday, April 11. He discussed the following
day's agenda.
SB 24 was HEARD and HELD in committee for further
consideration.
ADJOURNMENT
10:53:55 AM
The meeting was adjourned at 10:53 a.m.
| Document Name | Date/Time | Subjects |
|---|---|---|
| SB 86 Bill Presentation 3.12.2025.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 86 |
| SB 86 ETA Support - AK SB 86.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 86 |
| SB 86 Letters of Support version I 3.12.2025.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 86 |
| SB 86 Sectional Analysis version I 3.12.2025.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 86 |
| SB 86 Sponsor Statement version I 3.12.2025.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 86 |
| SB 29 Sectional Analysis Version A.pdf |
SFIN 4/1/2025 9:00:00 AM SRES 2/17/2025 3:30:00 PM |
SB 29 |
| SB 29 Sponsor Statement Version A.pdf |
SFIN 4/1/2025 9:00:00 AM SRES 2/17/2025 3:30:00 PM |
SB 29 |
| (S)RES SB29 Follow-Up from DCCED-CBPL (2.10.25).pdf |
SFIN 4/1/2025 9:00:00 AM SRES 2/17/2025 3:30:00 PM |
SB 29 |
| SB 29 BGCSB Audit 06.22.23.pdf |
SFIN 4/1/2025 9:00:00 AM SRES 2/17/2025 3:30:00 PM |
SB 29 |
| SB 29 Public Testimony.pdf |
SFIN 4/1/2025 9:00:00 AM SRES 2/17/2025 3:30:00 PM |
SB 29 |
| SB24 Sponsor Statement 01.25.pdf |
SFIN 4/1/2025 9:00:00 AM SL&C 2/24/2025 1:30:00 PM |
SB 24 |
| SB24 Supporting Documents-Research - Online Samples 02.20.25.pdf |
SFIN 4/1/2025 9:00:00 AM SL&C 2/24/2025 1:30:00 PM |
SB 24 |
| SB24 Supporting Documents-Research - Headlines - BBC News 02.21.25.pdf |
SFIN 4/1/2025 9:00:00 AM SL&C 2/24/2025 1:30:00 PM |
SB 24 |
| SB24 Supporting Documents-Research - Headlines - ABC News 02.21.25.pdf |
SFIN 4/1/2025 9:00:00 AM SL&C 2/24/2025 1:30:00 PM |
SB 24 |
| SB 24 LOS American Lung Association.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 24 |
| SB 24 - Summary of Changes - N to i.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 24 |
| SB 24 - Sectional - version i.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 24 |
| SB 24 Testimony AKSAM HB 49 SB 24.pdf |
SFIN 4/1/2025 9:00:00 AM |
HB 49 SB 24 |
| SB 24 - Presentation - Slide Two - 3.28.25.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 24 |
| SB 24 Support Bloom-Keill.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 24 |
| SB 24 - Presentation-WhitePaper - Dr.Rob Crane - 4.1.25.pdf |
SFIN 4/1/2025 9:00:00 AM |
SB 24 |