HB 99 Alaska House · 34th Legislature (2025-2026)

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.

HB 99 modernizes Alaska's licensing rules for money transmission businesses, such as payment processors, cryptocurrency services, and currency exchange providers. It requires these businesses to obtain state licenses, adds specific regulations for virtual currency transactions, and establishes a multistate licensing system to streamline applications across jurisdictions. The bill also mandates record-keeping and reporting standards, clarifies exemptions for payroll services, and allows Alaska's Department of Commerce to collaborate with other states on regulatory oversight. These changes directly affect entities engaging in money transmission within Alaska, aiming to update outdated requirements and align with industry developments.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 12, 2025 Last action May 6, 2025

Maddy AI version diff · 1 comparison

What changed between versions

HB 99 → CSHB 99(L&C) · 6 edits

MODERATE

The bill was amended by the House Labor and Commerce Committee to add committee sponsorship information and update the bill identifier from HB 99 to CSHB 99(L&C). The substantive legislative text regarding money transmission licensing requirements remains unchanged from the original version.

TECHNICAL

Added committee sponsorship line indicating the bill was offered by the House Labor and Commerce Committee

Changed bill identifier from HB 99 to CSHB 99(L&C) to reflect committee consideration status

Updated document version identifier from 34-LS0543\A to 34-LS0543\I

Changed bill page footer identifier from HB0099a to HB0099b

Removed original introduction date (2/12/25) and committee referral information

Added sponsor identification line for Representative Fields

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 21, 2025

Committee

(H) REFERRED TO FINANCE

lower

Mar 14, 2025

Lower · Passed

(H) Moved CSHB 99(L&C) Out of Committee

lower

1 primary · 0 co-sponsors