HB 1241 (2024): relative to the regulation of money transmitters; relative to license applications and renewals for certain consumer credit entities; and requiring the investment advisor for the public deposit investment pool to maintain funds in a particular manner.

HB 1241 (2024)

relative to the regulation of money transmitters; relative to license applications and renewals for certain consumer credit entities; and requiring the investment advisor for the public deposit investment pool to maintain funds in a particular manner.

• Status: Signed into law
• Term: 2023-2024
• House committee: Commerce and Consumer Affairs
• Senate committee: Commerce
• Subject: Banking and Finance
• Chapter law: 368

The Story

It was introduced on January 3, 2024 and referred to the House Commerce and Consumer Affairs committee. The committee held a public hearing on January 17, 2024. The committee held a work session on March 6, 2024. The committee met in executive session on March 13, 2024 and March 20, 2024. The committee held a work session on March 20, 2024. The committee voted 16–1 to recommend that the House pass it with changes (amendment 2024-1245h), and the report was placed on the consent calendar. The committee's amendment (2024-1245h) was adopted on a voice vote on March 28, 2024, changing the text of the bill. On March 28, 2024 the House voted to pass it with changes on a voice vote. It crossed to the Senate and was referred to the Senate Commerce committee. The committee held a public hearing on April 23, 2024. The committee voted unanimously, 5–0, to recommend that the Senate pass it with changes (amendment 2024-1932s), and the report was placed on the consent calendar. On May 22, 2024 the Senate adopted “Special Order to the end of the calendar on 05/23/2024, Without Objection”. The committee's amendment (2024-1932s) was adopted on a voice vote on May 23, 2024, changing the text of the bill. A floor amendment (2024-2165s), offered by Sen. Cindy Rosenwald, was adopted on a voice vote on May 23, 2024, changing the text of the bill. On May 23, 2024 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. On May 29, 2024 the House adopted “House Non-Concurs with Senate Amendment 2024-1932s and 2024-2165s and Requests CofC (Reps. Hunt, Burroughs, Ammon, McAleer)” on a voice vote. On May 30, 2024 the Senate adopted “Accedes to House Request for Committee of Conference” on a voice vote, on a motion by Sen. Bill Gannon. A committee of conference met on June 4, 2024 to try to settle the differences between the two chambers' versions of the bill. The Senate adopted the conference report (2024-2248c) on a voice vote. On June 13, 2024 the House adopted the conference report (2024-2248c) on a voice vote. The bill was enrolled on June 13, 2024 — the final check of the text before it goes to the governor — and an enrolled bill amendment (2024-2362e) was adopted on a voice vote to correct technical errors found after passage. The governor signed it on August 23, 2024, making it Chapter 368 of the session laws.

Sponsors

• Rep. John Hunt (R - Ches 14) (prime sponsor)

Hearings and Sessions

• January 17, 2024, 10:00 AM: public hearing, House Commerce and Consumer Affairs, LOB 302-304
• March 6, 2024, 1:15 PM: subcommittee work session, House Commerce and Consumer Affairs, LOB 302-304
• March 13, 2024, 10:00 AM: executive session, House Commerce and Consumer Affairs, LOB 302-304
• March 20, 2024, 12:30 PM: subcommittee work session, House Commerce and Consumer Affairs, LOB 302-304
• March 20, 2024, 1:00 PM: executive session, House Commerce and Consumer Affairs, LOB 302-304
• April 23, 2024, 10:30 AM: hearing, Senate Commerce, SH 100
• June 4, 2024, 2:00 PM: committee of conference, LOB 302-304

Votes

• March 28, 2024, House: Ought to Pass with Amendment 2024-1245h — voice vote, passed
• May 23, 2024, Senate: Ought to Pass with Amendment s 2024-1932s and 2024-2165s — voice vote, passed
• May 29, 2024, House: House Non-Concurs with Senate Amendment 2024-1932s and 2024-2165s and Requests CofC (Reps. Hunt, Burroughs, Ammon, McAleer) — voice vote, passed
• May 30, 2024, Senate: Accedes to House Request for Committee of Conference — voice vote, passed
• June 12, 2024, Senate: Adopt Conference Committee Report — voice vote, passed
• June 13, 2024, House: Adopt Conference Committee Report — voice vote, passed

The Docket

Laws It Would Change

• RSA 397-A:5
• RSA 397-A:8
• RSA 399-A:5
• RSA 399-D:5
• RSA 6:45
• RSA 6:46
• RSA 399-G

From the General Court

• Bill text
• Bill status page
• Docket
• HC 12, page 6
• SC 16
• SC 20
• This page’s data as JSON