SB 1325 Hawaii Senate · 2024 Regular Session

RELATING TO MONEY TRANSMITTERS MODERNIZATION ACT.

Summary

Aligns Hawaiʻi's money transmitters law with the provisions of the Model Money Transmitters Modernization Act, thereby enabling Hawaiʻi to work within a network of states to license, supervise, and examine transglobal money transmission companies as a multi-state system. Enables timely, coordinated, and efficient regulation of money transmission companies to achieve financial stability and economic growth, while providing consumer protection. Allows the State to share resources, data, and technology tools with other states to create a stronger multi-state system of financial regulation. Effective 7/1/2050. (SD1)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2023

Committee Review

Mar 2023

Senate Passage

Mar 2023

House Passage

Governor

Introduced Jan 25, 2023 Last action Dec 11, 2023

Floor votes

How they voted

This bill passed the Senate. No roll call record of that vote is available.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 9, 2023

Committee

Referred to ECD, CPC, referral sheet 17

lower

Mar 7, 2023

Introduced

Received from Senate (Sen. Com. No. 413) in amended form (SD 1).

lower

Mar 7, 2023

Upper · Passed

Passed Third Reading, as amended (SD 1). Ayes, 23; Aye(s) with reservations: none. Noes, 1 (Senator(s) Awa). Excused, 1 (Senator(s) Fukunaga). Transmitted to House.

upper

Feb 21, 2023

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 3 Aye(s): Senator(s) Keohokalole, Fukunaga, Richards; Aye(s) with reservations: none ; 1 No(es): Senator(s) Awa; and 1 Excused: Senator(s) McKelvey.

upper

Feb 17, 2023

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 02-21-23 9:30AM; Conference Room 229 & Videoconference.

upper

Jan 30, 2023

Committee

Referred to CPN.

upper

Jan 25, 2023

Introduced

Introduced.

upper

1 primary · 0 co-sponsors