Committee Summary for House Commerce and Consumer Affairs (01/22/2025)

Bill/Time	Type	Title	Sponsor
HB242 00:10:11.240 - 9:08:57 AM	Executive Session	relative to brew pub licenses.	Hunt, John(R)[B+]2024
Unclear 00:14:30.519 - 9:13:16 AM	Public Hearing	relative to the consumption of alcohol in restrooms
Unclear 00:36:04.319 - 9:34:50 AM	Executive Session	relative to the consumption of alcohol in restrooms
Unclear 00:47:12.440 - 9:45:58 AM	General Working Session	Unclear
Unclear 01:08:15.319 - 10:07:01 AM	Executive Session	establishing a commission to study the privatization of the Liquor Commission
HB376 01:22:41.320 - 10:21:27 AM	Public Hearing	specifying that library user information exempted from disclosure in the right-to-know law includes information regarding library cards and library membership status.	Mazur, Lisa(R)[A]2024
Unclear 02:00:44.679 - 10:59:30 AM	Executive Session	removing the requirement that on-premise licensees serve food
HB302 03:34:47.080 - 12:33:33 PM	General Working Session	relative to enabling the state treasury to invest in precious metals and digital assets.	Ammon, Keith(R)[A+]2024
HB310 04:04:30.359 - 1:03:16 PM	General Working Session	establishing a commission to study the creation of a regulatory framework for stable tokens and tokenized real-world assets in New Hampshire.	Ammon, Keith(R)[A+]2024
HB359 04:18:20.520 - 1:17:06 PM	Executive Session	prohibiting denial of banking and insurance services based on any factor that is not quantitative, impartial, and risk-based as measured by an objective standard.	Corcoran, Travis(R)[A]2024
HB302 03:34:47.080 - 12:33:33 PM	General Working Session	relative to enabling the state treasury to invest in precious metals and digital assets.	Ammon, Keith(R)[A+]2024
HB310 04:07:28.199 - 1:06:14 PM	General Working Session	establishing a commission to study the creation of a regulatory framework for stable tokens and tokenized real-world assets in New Hampshire.	Ammon, Keith(R)[A+]2024

HB242: Representative John Hunt, Cheshire - District 14 Information Only00:10:11.240 - 9:08:57 AM; Representative Hunt opened the subcommittee on liquor, discussing the confusion about the subcommittee's composition and the absence of Representative Post. He mentioned that the bill in question was related to Brew Pub licenses and confirmed the presence of Representatives Burrows, Walls, and Sullivan. He then passed the floor to Representative Spear to discuss the bill.
HB242: Representative Spear Information Only00:10:57.440 - 9:09:43 AM; Representative Spear, as the sponsor of the bill, confirmed his role but noted issues with the printed sponsor list. He expressed frustration over errors in the documentation but moved forward with discussing the bill, which was originally from last year's committee conference and had straightforward elements.
HB242: Representative John Hunt, Cheshire - District 14 Information Only00:12:42.240 - 9:11:28 AM; Representative Hunt clarified the subcommittee's composition, noting Representative Post's absence and another member sitting in for him. He asked if anyone had issues with passing the bill and, seeing no objections, moved to vote on the bill. The bill passed with a unanimous vote of 7-0.
Unclear: Chief Mark Armaganian, Director of New Hampshire Liquor Enforcement and Licensing Information Only00:14:30.519 - 9:13:16 AM; Chief Armaganian testified neutrally on the bill, explaining the dual perspective of the Liquor Enforcement and Licensing Division. He mentioned the possibility of miniatures in bathrooms and the negative effects of unattended drinks, referencing a horrific story shared by a representative. He deferred technical details to Deputy Chief Danielle Ston.
Unclear: Deputy Chief Danielle Ston, Deputy Director of New Hampshire Liquor Enforcement and Licensing Information Only00:15:16.519 - 9:14:02 AM; Deputy Chief Ston provided technical details about the enforcement of the current law regarding drinks in restrooms. She mentioned that while they do encounter situations where drinks are found in restrooms, enforcement is not heavy. They focus on ensuring cleanliness, safety, and monitoring of the restrooms, along with signage to inform the public of the rules.
Unclear: Representative Herbert Oppose00:20:39.600 - 9:19:25 AM; Representative Herbert expressed opposition to the bill, stating that in his 75 years of experience, he had never seen anyone take alcohol into a restroom. He considered the issue a non-event and did not see the need to change the law to allow it.
Unclear: Representative Barz Support00:22:56.240 - 9:21:42 AM; Representative Barz supported the bill and recounted a recent high-profile case of drink spiking in a bathroom, emphasizing the safety concerns. He suggested an alternative solution where bars could have a safe zone behind the bar for patrons to leave their drinks securely.
Unclear: Mike Henry, Lodging and Restaurant Association Information Only00:25:14.039 - 9:24:00 AM; Mike Henry testified on behalf of the Lodging and Restaurant Association, stating that while the industry understands the motivation behind the bill, they believe it would complicate their management of alcohol consumption within their establishments. He mentioned that some establishments are installing cameras to monitor and deter such incidents.
Unclear: Representative Spear Information Only00:29:50.440 - 9:28:36 AM; Representative Spear discussed the bill's wording, which allows patrons to take purchased beverages into restrooms but does not mandate establishments to allow it. He noted that establishments can further restrict this with their own rules, such as signage prohibiting drinks in restrooms.
Unclear: Representative Sullivan Oppose00:32:59.399 - 9:31:45 AM; Representative Sullivan opposed the bill, believing that restaurant owners should have the ability to create their own environments without legislative intervention. He argued that the current law already allows establishments to prohibit drinks in restrooms if they choose to.
Unclear: Representative John Hunt, Cheshire - District 14 Information Only00:34:33.560 - 9:33:19 AM; Representative Hunt explained the purpose of the bill, focusing on the safety concerns of leaving drinks unattended. He recounted a personal story of a friend being drugged and waking up in a hotel room, emphasizing the need for patrons to maintain control over their drinks, even in restrooms.
Unclear: Representative John Hunt, Cheshire - District 14 Information Only00:36:04.319 - 9:34:50 AM; Representative Hunt led the discussion on the bill regarding alcohol consumption in restrooms. He mentioned that the bill passed with a vote of 5-2 to pass. He noted suggestions for editing the bill's language to clarify that establishments can prohibit drinks in restrooms if they choose to.
Unclear: Representative Spear Information Only00:37:04.760 - 9:35:50 AM; Representative Spear suggested amending the bill's language to specify that patrons may take beverages into restrooms only if the establishment allows it. This amendment aims to clarify the bill's intent without mandating establishments to allow it.
Unclear: Deputy Chief Danielle Ston Information Only00:58:56.280 - 9:57:42 AM; Deputy Chief Ston provided insight on how the Liquor Commission could enforce the bill if passed. She mentioned that they would need to amend a rule to establish a specific penalty for the law. She also noted their ability to communicate changes and penalties to licensees through industry circulars.
Unclear: Representative John Hunt, Cheshire - District 14 Information Only00:47:12.440 - 9:45:58 AM; Representative Hunt discussed the issue of businesses scanning licenses and storing personal identification data. He proposed an amendment to address this concern, particularly for off-premise liquor licensees. He noted the need for enforceability and mentioned that the Liquor Commission could investigate such violations.
Unclear: Public Commenter Information Only00:48:44.240 - 9:47:30 AM; A member of the public raised concerns about businesses scanning licenses and storing personal data, citing a personal experience with the insurance department. They questioned the enforcement of laws and suggested severe penalties for entities storing personal identification data without consent.
Unclear: John, DMV Director Information Only01:01:16.200 - 10:00:02 AM; John, the DMV Director, discussed a new system being implemented to verify licenses without storing data. He explained the Driver License Data Verification (DLDV) program run through AAMVA, which provides a true/false response without storing personal information. He assured that this system would address concerns about data storage.
Unclear: Representative John Hunt, Cheshire - District 14 Information Only01:08:15.319 - 10:07:01 AM; Representative Hunt opened the discussion on the bill to establish a commission to study the privatization of the Liquor Commission. He expressed skepticism about the commission's potential effectiveness and mentioned previous experiences with commissions that did not lead to meaningful outcomes.
Unclear: Representative Spear Information Only01:10:33.640 - 10:09:19 AM; Representative Spear discussed the potential benefits and drawbacks of privatization. He mentioned the need for an empirical study to compare the current system with a privatized one, acknowledging the complexity and cost of such a study. He noted that the state's revenue might be reduced if privatization occurs.
Unclear: Representative Pus Information Only01:16:45.360 - 10:15:31 AM; Representative Pus moved to kill the bill, arguing that the current Liquor Commission system is working well. He suggested that if there are concerns about declining liquor sales, the focus should be on marketing and product mix rather than privatization.
Unclear: Representative Walls Information Only01:17:31.360 - 10:16:17 AM; Representative Walls supported the motion to kill the bill, stating the philosophy of 'if it ain't broke, don't fix it.' He noted the successful operation of the Liquor Commission and the potential risks of privatization, including reduced state revenue and increased crime.
Unclear: Representative John Hunt, Cheshire - District 14 Information Only01:22:09.840 - 10:20:55 AM; Representative Hunt concluded the discussion by noting that the bill was killed unanimously with a vote of 7-0, emphasizing that the current system of the Liquor Commission was seen as effective and not in need of privatization.
HB376: Representative Hemway, Claremont Support01:22:41.320 - 10:21:27 AM; Representative Hemway supported the bill, arguing that removing the food requirement for on-premise licensees could help retain young adults in Claremont by providing nightlife options. He noted that young adults currently leave for other states with more social options, which affects local revenue.
HB376: Representative Burrows Information Only01:27:24.520 - 10:26:10 AM; Representative Burrows raised concerns about the safety implications of allowing establishments to serve alcohol without food, noting that food can slow the absorption of alcohol. He questioned the impact on driving safety and the potential increase in intoxication levels.
HB376: Chief Mark Armaganian, Director of New Hampshire Liquor Enforcement and Licensing Information Only01:49:57.639 - 10:48:43 AM; Chief Armaganian reiterated the importance of food in slowing down alcohol absorption, emphasizing the safety aspect of the current law. He expressed concerns about the potential negative effects on communities and highways if establishments could serve alcohol without food.
HB376: Representative Spear Support01:52:16.360 - 10:51:02 AM; Representative Spear supported the bill, arguing that it would enable new businesses to thrive and could help address New Hampshire's demographic problem by making the state more attractive to younger people. He suggested that the bill could complement existing restaurants rather than compete with them.
Unclear: Representative John Hunt, Cheshire - District 14 Information Only02:00:44.679 - 10:59:30 AM; Representative Hunt led the discussion on the bill to remove the food requirement for on-premise licensees. He noted the radical nature of the change and the concerns raised by the Liquor Commission about increased enforcement needs. The bill was ultimately killed with a vote of 5-2, indicating a preference to maintain the current law.
HB302: Representative Ammon Information Only03:34:47.080 - 12:33:33 PM; Representative Ammon proposed amendments to HB302, suggesting the removal of stablecoins, staking, and staking as a service from the bill. He recommended reducing the maximum investment percentage from 10% to a lower number, such as 5% or 2%, to simplify the bill and focus on more liquid investments.
HB302: Representative Spear Information Only03:37:08.960 - 12:35:54 PM; Representative Spear raised concerns about the liquidity of investments like gold, suggesting they are better suited for reserve funds rather than the operating budget. He questioned the necessity of a maximum investment limit, suggesting that the investment committee should have the discretion to make fiduciary decisions.
HB302: Representative John Hunt, Cheshire - District 14 Information Only03:38:41.359 - 12:37:27 PM; Representative Hunt discussed the strategic reserve concept and the potential for digital assets to help with inflation. He noted that the bill aims to give the state treasurer tools to invest in digital assets if they meet certain market capitalization thresholds, emphasizing the importance of being forward-thinking.
HB302: Representative Meler Information Only03:43:30.880 - 12:42:16 PM; Representative Meler expressed concern about the state's budget deficit, questioning the timing of the bill. He argued that the state should focus on more immediate financial issues rather than considering long-term investments in digital assets.
HB302: Representative Ammon Information Only03:45:04.239 - 12:43:50 PM; Representative Ammon highlighted the symbolic benefit of passing the bill, suggesting it would position New Hampshire as a forward-thinking state in the digital asset space. He noted that other states like Texas and Wyoming have already passed similar legislation.
HB310: Representative Ammon Information Only04:04:30.359 - 1:03:16 PM; Representative Ammon discussed the establishment of a commission to study digital assets, noting the need for expertise in the field. He suggested extending the commission's sunset date to 2026 to allow more time for appointments and work. He also proposed including members familiar with blockchain technology.
HB310: Representative John Hunt, Cheshire - District 14 Information Only04:07:28.199 - 1:06:14 PM; Representative Hunt emphasized the importance of the commission's work and the need to learn from other states' experiences. He encouraged committee members to suggest additional areas of focus and potential members with relevant expertise.
HB359: Representative John Hunt, Cheshire - District 14 Information Only04:18:20.520 - 1:17:06 PM; Representative Hunt opened the discussion on HB359, noting that the bill's sponsor did not attend the hearing. He mentioned opposition from various groups, including the Department of Justice and the Bankers Association, and moved to kill the bill due to lack of support and readiness.
HB359: Representative Ammon Information Only04:20:42.199 - 1:19:28 PM; Representative Ammon acknowledged the legitimate issue behind the bill, related to debanking, but stated that the bill was not ready for passage. He suggested that the issue might be better addressed at the federal level and supported the motion to kill the bill.
HB359: Representative Cole Information Only04:23:03.479 - 1:21:49 PM; Representative Cole moved to kill the bill, citing the lack of support from relevant stakeholders and the absence of the bill's sponsor. The motion was seconded by Representative Meler, and the bill was killed unanimously with a vote of 9-0.
HB359: Representative Cole Oppose04:23:03.479 - 1:21:49 PM; Representative Cole opposed the bill, citing opposition from various organizations including the Department of Justice, the bankers Association, the domestic insurance representatives from State Farm and All State, and social responsibility and sustainability groups. They argued that the bill was against free trade and did not fit within the Live Free or Die State's ethos. The lack of support from these organizations and the absence of the bill's sponsor, Representative Cork, at the hearing further justified the opposition to the bill.
HB359: Representative Hemway Oppose01:22:41.320 - 10:21:27 AM; Representative Hemway, a freshman from Claremont District Six, opposed the bill. He discussed the issue of young adult retention in Claremont, explaining that the city currently lacks nightlife, which leads young adults to move elsewhere after high school or college. He argued that allowing establishments to operate without a food requirement could improve the social environment for young adults and mid-age adults, potentially revitalizing the downtown area. However, he acknowledged that the current law already allows for food requirements to be waived after 9:00 PM, and expressed concerns about the potential impact on existing restaurants if new bars were allowed to operate without food services. Hemway also mentioned the support from other cities like Lebanon, Portsmouth, Keene, and Nashua for this concept.
HB359: Representative Burrows Oppose01:25:04.080 - 10:23:50 AM; Representative Burrows expressed concerns about the safety implications of allowing establishments to serve alcohol without food, noting that food slows down the absorption rate of alcohol, potentially reducing incidents of over-intoxication and related issues such as drunk driving. They highlighted the importance of maintaining safe environments within the community and industry, suggesting that the bill's proposal could lead to negative effects on public safety.
HB359: Representative Walsh Oppose01:32:06.960 - 10:30:52 AM; Representative Walsh opposed the bill, focusing on the practical implications of allowing establishments to operate without food requirements. They discussed the potential challenges for small restaurants that might only have one dining room, and questioned whether the current law's provisions allowing dining rooms to be used as lounges after 9:00 PM were sufficient. They also raised concerns about the high cost of liquor licenses and the potential need for increased enforcement if the bill were to pass.
HB359: Representative Pus Oppose01:39:07.920 - 10:37:53 AM; Representative Pus opposed the bill, emphasizing the need for a high liquor license fee to cover the additional enforcement required for establishments that do not serve food. They argued that such establishments could become magnets for over-serving, necessitating more visits from liquor enforcement. Pus also questioned the feasibility of enabling municipalities to opt into such a system without mandating it across the state.
HB359: Representative Herbert Oppose01:41:24.199 - 10:40:10 AM; Representative Herbert opposed the bill, discussing the historical context of private clubs and their exemptions from food requirements. They noted that private clubs have specific membership criteria and do not face the same regulatory requirements as public establishments. Herbert also questioned whether the bill's approach would effectively address the demographic and economic issues facing Claremont and other similar towns.
HB359: Representative Spear Oppose01:36:44.440 - 10:35:30 AM; Representative Spear opposed the bill, emphasizing the importance of maintaining the current liquor laws that require food service. They argued that food acts as a deterrent to over-intoxication and helps maintain safety within the community. Spear also questioned the feasibility of the bill's proposal for small towns like Claremont, suggesting that it might not attract the necessary population to support new nightlife establishments.
HB359: Representative Ammon Oppose01:29:42.119 - 10:28:28 AM; Representative Ammon opposed the bill, expressing concerns about the potential economic impact on existing businesses if new establishments were allowed to operate without food requirements. They discussed the need for a higher liquor license fee to cover additional enforcement costs and questioned whether the bill would effectively address the demographic challenges facing New Hampshire.
HB359: Representative Meler Oppose01:33:40.239 - 10:32:26 AM; Representative Meler opposed the bill, highlighting the lack of support from key stakeholders and the potential negative impact on public safety if establishments were allowed to serve alcohol without food. They noted that the current law already provides flexibility after 9:00 PM and questioned the need for further changes.
HB359: Representative Meler Information Only01:32:06.960 - 10:30:52 AM; Representative Meler finishes speaking at 01:33:40.239, discussing concerns about the current law and its impact on small restaurants. He questions the necessity of a line in the bill that prevents a dining room from being used as a substitute for lounge operations, suggesting that small restaurants with only one dining room should be allowed to use it for lounge operations.
HB359: Representative Spear Information Only01:35:57.440 - 10:34:43 AM; Representative Spear discusses the potential impact of the bill on small establishments, particularly in Claremont. He argues that the bill should be enabling rather than mandatory, allowing towns to decide if they want to waive the food requirement for liquor establishments. He expresses concern about the increased enforcement needed if the food requirement is removed.
HB359: Representative Pus Information Only01:39:07.920 - 10:37:53 AM; Representative Pus questions the number of social clubs in the Claremont area and their bar operations. He notes that these clubs are not subject to the same food requirements and are limited to specific groups of citizens. He suggests that enabling municipalities to decide on such establishments could be a viable option.
HB359: Representative Herbert Information Only01:40:38.679 - 10:39:24 AM; Representative Herbert discusses the historical context of private clubs in New Hampshire and their liquor licenses. He mentions that these clubs do not have the same food requirements and suggests that enabling municipalities to decide on such establishments could be a viable option.
HB359: Representative Burrows Information Only02:02:17.639 - 11:01:03 AM; Representative Burrows questions the Liquor Commission about the definition of food and whether having snacks like popcorn would suffice. He expresses concern about the safety implications of removing the food requirement and the potential for increased enforcement needs.
HB359: Representative Cole Information Only01:53:02.719 - 10:51:48 AM; Representative Cole discusses the potential economic benefits of the bill for small towns like Claremont. He argues that enabling municipalities to decide on such establishments could attract young people and spur economic growth. He also mentions the high property tax rates in Claremont as a challenge.
HB359: Representative Sal Information Only01:58:27.880 - 10:57:13 AM; Representative Sal discusses the potential impact of the bill on the state's economy and the need for enabling legislation rather than mandates. He suggests that allowing municipalities to decide on such establishments could be beneficial and mentions the high property tax rates in Claremont as a challenge.
HB359: Representative John Hunt, Cheshire - District 14 Information Only01:59:12.960 - 10:57:58 AM; Representative Hunt discusses the potential impact of the bill on the state's economy and the need for enabling legislation rather than mandates. He suggests that allowing municipalities to decide on such establishments could be beneficial and mentions the high property tax rates in Claremont as a challenge.
HB359: Representative Ammon Information Only02:00:44.679 - 10:59:30 AM; Representative Ammon discusses the potential impact of the bill on the state's economy and the need for enabling legislation rather than mandates. He suggests that allowing municipalities to decide on such establishments could be beneficial and mentions the high property tax rates in Claremont as a challenge.
HB359: Representative Cole Oppose04:19:08.040 - 1:17:54 PM; Representative Cole moved to find the bill inexpedient to legislate, citing opposition from various groups including the Department of Justice, the bankers Association, the domestic insurance representatives, State Farm Insurance, All State Insurance, social responsibility organizations, and sustainability groups. He argued that the bill was seen as against free trade and not suitable for the Live Free or Die State.
HB359: Representative Ammon Oppose04:20:42.199 - 1:19:28 PM; Representative Ammon supported the motion to find the bill inexpedient to legislate, acknowledging that while there may be legitimate issues related to debanking, particularly in the tech sector, he felt the bill was not ready for prime time. He believed that the issue might need to be addressed at the federal level rather than the state level, and expressed concerns about the inclusion of insurance in the bill, suggesting it was more of a banking issue.
HB359: Representative Meler Oppose04:23:03.479 - 1:21:49 PM; Representative Meler seconded the motion to find the bill inexpedient to legislate, noting the lack of support for the bill and echoing the sentiments of the other representatives that it was not suitable for New Hampshire.
HB302: Representative Ammon Information Only03:34:47.080 - 12:33:33 PM; Representative Ammon presented a proposal to simplify the bill by removing provisions related to stable coins, staking, and staking as a service. He suggested lowering the investment limit from 10% to a lower percentage such as 5% or 2%. He emphasized that the bill was aimed at the rainy day fund, not the general operating budget, and noted the symbolic importance of passing such a bill to signal New Hampshire's openness to digital assets.
HB302: Representative Spear Information Only03:36:22.439 - 12:35:08 PM; Representative Spear expressed concerns about the liquidity of gold investments, distinguishing between gold in ETF form and gold bullion. He was open to the idea of a strategic reserve but cautioned about the current state of the rainy day fund, which had decreased significantly and might be depleted by the end of the budget cycle.
HB302: Representative John Hunt, Cheshire - District 14 Information Only03:37:54.279 - 12:36:40 PM; Representative Hunt questioned the necessity of setting a maximum limit for investments in digital assets, suggesting that the investment committee should have the discretion to make decisions as fiduciaries. He also discussed the broader context of inflation and the strategic importance of having reserves.
HB302: Representative Cole Information Only03:42:43.920 - 12:41:29 PM; Representative Cole highlighted the current budget deficit, suggesting that the state's financial situation might render the bill's provisions irrelevant. He argued that the state should focus on immediate fiscal challenges rather than future possibilities.
HB302: Representative Pusca Information Only03:45:04.239 - 12:43:50 PM; Representative Pusca emphasized the symbolic benefit of passing the bill to signal New Hampshire's readiness for digital assets and the potential for future economic advantages as the landscape changes.
HB302: Representative Herbert Information Only03:45:50.239 - 12:44:36 PM; Representative Herbert questioned the conservative nature of the current investment guidelines provided by the state treasurer, suggesting that equities should be considered as part of the investment options.
HB302: Seth Zoracki, General Counsel at the Banking Department Information Only03:50:28.319 - 12:49:14 PM; Seth Zoracki provided information on the current banking statutes, noting that digital assets are not specified in RSA 383b. He could not comment on the potential impact of the state's financial situation on its bond rating.
HB302: Representative Salvate Information Only03:52:02.720 - 12:50:48 PM; Representative Salvate questioned the progress of other states that have adopted cryptocurrency-related legislation, expressing concerns about the lack of research and the need for a clear goal for the commission.
HB302: Representative Meler Information Only03:59:05.080 - 12:57:51 PM; Representative Meler emphasized the need for income to address the state's budget deficit, suggesting that investments in digital assets might be a distraction from immediate fiscal needs.
HB302: Representative Burrows Information Only04:00:39.920 - 12:59:25 PM; Representative Burrows suggested deleting references to the general fund from the bill, focusing only on the revenue stabilization fund, and proposed further discussion with the state treasurer about potential investments in equities.
HB310: Representative Ammon Information Only04:07:28.199 - 1:06:14 PM; Representative Ammon discussed the establishment of a study commission to investigate digital assets and precious metals, emphasizing the importance of including members from the Commerce Committee and possibly an independent expert. He suggested extending the commission's sunset date to 2026 to allow more time for thorough research.
HB310: Representative Spear Information Only04:08:59.199 - 1:07:45 PM; Representative Spear expressed a desire for the commission to include a professional investor to provide a balanced view on the pros and cons of digital assets and precious metals, referencing the successful work of the previous Dow commission.
HB310: Representative John Hunt, Cheshire - District 14 Information Only04:11:19.760 - 1:10:05 PM; Representative Hunt suggested adding members familiar with blockchain technology to the commission and proposed extending the commission's timeline to ensure comprehensive study and recommendations.
HB310: Representative Cole Information Only04:15:10.439 - 1:13:56 PM; Representative Cole discussed the need for specific expertise on the commission, particularly in financial regulation or blockchain technology, and emphasized the importance of including academic representation.
HB310: Representative Pusca Information Only04:16:45.080 - 1:15:31 PM; Representative Pusca highlighted the need for the commission to investigate what other states are doing in this area, suggesting that this should be included in the commission's tasks.
HB310: Representative Herbert Information Only04:12:53.000 - 1:11:39 PM; Representative Herbert questioned the feasibility of finding experts willing to serve on the commission without compensation and suggested that members should be from New Hampshire to avoid political complications.
HB310: Representative Salvate Information Only04:16:45.080 - 1:15:31 PM; Representative Salvate offered to compile information on what other states are doing with their commissions, focusing on states that have passed relevant legislation.
HB310: Keith Ammon Information Only03:29:45.040 - 12:28:31 PM; Keith Ammon discussed the structure and objectives of a proposed study commission related to HB310. He suggested that the commission should focus on understanding what other states are doing with similar legislation and tailor recommendations accordingly. He mentioned the need to extend the commission's deadline to 2026 to allow sufficient time for thorough investigation and report preparation. He also highlighted the importance of including members with expertise in blockchain technology and financial regulation.
HB310: Representative Melier Information Only03:32:16.120 - 12:31:02 PM; Representative Melier expressed concerns about the conservative nature of current investment guidelines provided by the state treasurer, suggesting they might be too safe and not creative enough to include investments in digital assets or precious metals. He emphasized the need for a strategic reserve that could potentially include such investments in the future.
HB310: Representative Herbert Information Only03:36:22.439 - 12:35:08 PM; Representative Herbert discussed the liquidity concerns regarding investments in gold and other assets. He differentiated between the state's operating budget and the reserve fund, suggesting that investments in less liquid assets like gold should be confined to the reserve fund rather than the operating budget. He also questioned the necessity of percentage limits on investments.
HB310: Representative Spear Information Only03:37:54.279 - 12:36:40 PM; Representative Spear emphasized the importance of not including the proposed investments in the general operating budget, as they should be restricted to the reserve fund or similar. He also raised concerns about the current state of the rainy day fund, noting its decline and the potential budget shortfalls.
HB310: Representative John Hunt, Cheshire - District 14 Information Only03:44:16.159 - 12:43:02 PM; Representative Hunt highlighted the symbolic importance of passing the bill, even if it may not lead to immediate action by the state treasurer. He argued that it would signal New Hampshire's openness to digital assets, positioning the state as a forward-thinking jurisdiction in the race among states to adapt to new financial technologies.
HB310: Representative Cole Information Only03:45:50.239 - 12:44:36 PM; Representative Cole discussed the potential impact of the bill on the state's bond rating and questioned the practicality of investing in digital assets given the state's current financial situation. He expressed skepticism about the feasibility of the proposed investments and emphasized the need for immediate income rather than speculative investments.
HB310: Representative Pressa Information Only03:46:36.199 - 12:45:22 PM; Representative Pressa raised concerns about the state's current financial deficit and questioned the relevance of the proposed legislation in light of these challenges. He suggested that the state should focus on immediate financial issues rather than long-term speculative investments.
HB310: Representative Pusic Information Only03:48:54.960 - 12:47:40 PM; Representative Pusic emphasized the need for the commission to include a professional investor who can provide a balanced view of the pros and cons of investing in digital assets. He highlighted the importance of having expert input to guide the commission's recommendations.
HB310: Representative Salvate Information Only03:55:56.120 - 12:54:42 PM; Representative Salvate discussed the need to extend the commission's deadline to allow for a more comprehensive study. He also emphasized the importance of including members with expertise in blockchain technology and financial regulation to ensure the commission's recommendations are well-informed.
HB310: Seth Zora Information Only03:50:28.319 - 12:49:14 PM; Seth Zora, the General Counsel at the Banking Department, clarified that the current statutes do not specify digital assets as an investment option for state-chartered banks. He provided insight into the legal framework governing banking investments and noted the complexity of adding new investment categories.
HB310: Unknown Information Only04:24:41.319 - 1:23:27 PM; The speaker briefly mentioned 'it's e', but did not elaborate further on the topic.
HB310: Unknown Information Only04:25:34.800 - 1:24:20 PM; The speaker simply said 'sure', indicating agreement or acknowledgment, but provided no further details.
HB310: Unknown Information Only04:25:34.800 - 1:24:20 PM; The speaker concluded their remarks on the topic of banking related to HB310.

Hunt, John(Chairman)(R)[B+]2024	Post, Lisa(Clerk)(R)[A]2024	Potucek, John(V Chairman)(R)[A]2024
Salvi, Santosh(D)	Chourasia, Manoj(D)	Ammon, Keith(R)[A+]2024
Herbert, Christopher(D)[F]2024	Osborne, Jason(R)[A]2024	Cole, Brian(R)[B-]2024
Walsh, Lilli(R)[B]2024	Porcelli, Susan(R)[A-]2024	Spier, Carry(D)[CT]2024
Burroughs, Anita(D)[CT]2024	Gibbs, Merryl(D)[CT]2024	McAleer, Chris(D)[CT]2024
Sullivan, Jared(D)[D+]2024	Miles, Julie(R)	Presa, Adam(R)