The Senate Finance Committee met on Friday afternoon and passed four bills.
Senate Bill 560 would create the Financial Accountability Stable Token Act.
This bill authorizes the State Treasurer to approve certain qualifying “stable tokens” for use in voluntary state payments to vendors and contractors.
Senate Bill 908 would allow the Governor greater flexibility in setting the Lottery Director’s salary.
The Director’s annual salary would be established by the Governor in the initial appointment letter and could be adjusted annually by subsequent letter, so long as it remains within the lottery’s current budget allocation.
Senate Bill 755 would eliminate the requirement that state agencies file annual progress reports on small, women, and minority-owned business procurement to the Department of Administration.
The bill defines the term “small business” as an independently owned or operated by one or more persons who are citizens of the United States or noncitizens who are in full compliance with United States immigration law and have 250 or fewer employees or average annual gross receipts of $10 million or less averaged over the previous three years.
Senate Bill 759 would update and revise state law governing auctioneers.
This bill defines auctions as any sale of real or personal property in which offers or bids are made by prospective purchasers, by means of verbal exchange, physical gesture, or written communication, whether bids are made in person, phone, via mail, electronically or online, the property is sold to the highest bidder determined by the auctioneer or the persons bidding in the item.
All bills were sent to the full Senate with a recommendation of passage.
