Minutes — Senate Committee on Business & Commerce (November 17, 2022)

Summary

Minutes of a public hearing of the Senate Committee on Business & Commerce on Thursday, November 17, 2022, called to order at 9:03 AM. The chair opened invited testimony on interim charges titled Electricity and Blockchain and Virtual Currencies. The Electricity charge covers the electricity market in Texas, including transmission planning, electric vehicle usage and renewable energy generation, and monitoring Senate Bill 2 and Senate Bill 3. The Blockchain charge covers state and federal regulation of blockchain and virtual currencies and monitoring House Bill 1576 and House Bill 4474. Senator Paxton moved at 3:51 PM that the committee stand recessed subject to the call of the chair.

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MINUTES

SENATE
COMMITTEE ON BUSINESS & COMMERCE

Thursday,
November 17, 2022

9:00
AM

Capitol
Extension, Room E1.012

*****

Pursuant to a notice
posted in accordance with Senate Rule 11.10 and 11.18, a public hearing of the
Senate Committee on Business & Commerce was held on Thursday, November 17,
2022, in the Capitol Extension, Room E1.012, at Austin, Texas.

*****

MEMBERS PRESENT: | MEMBERS ABSENT:
Senator Charles
 Schwertner, Chair | Senator Robert Nichols,
 Vice Chair
Senator Donna Campbell
Senator Brandon
 Creighton
Senator Nathan Johnson
Senator Lois Kolkhorst
Senator José Menéndez
Senator Angela Paxton
Senator John Whitmire

*****

The Chair called the
meeting to order at 9:03 AM. The following business was transacted:

The following members
arrived after the roll was called: Senator Creighton, Senator Kolkhorst,
Senator Menendez, Senator Paxton, and Senator Whitmire.

The Chair made opening
remarks. The Chair opened invited testimony (see attached witness list) for
discussion on the following interim charges:

Electricity - Assess the
electricity market in Texas. Study issues impacting the Texas electric grid,
including transmission planning and maintenance scheduling. Study the
consequences of increased electric vehicle usage and charging on the
generation, transmission and distribution, and retail sectors of Electric
Reliability Council of Texas (ERCOT) and evaluate their potential impact on
increased electric demand and reliability of the grid. Examine the growth of renewable
energy generation in the state and evaluate its impact on grid reliability.
Make recommendations to strengthen the reliability of the grid, and meet the
future generation needs of ERCOT through new and existing dispatchable
generation. Assess plans to expeditiously add new dispatchable generation.
Monitor the implementation of Senate Bill 2 and Senate Bill 3, 87th
Legislature.

At 10:55 AM Senator
Whitmire assumed the chair.

At 11:01 AM Senator
Schwertner resumed the chair.

At 1:51 PM Senator
Campbell assumed the chair.

At 2:03 PM Senator
Schwertner resumed the chair.

Blockchain and Virtual
Currencies - Study current state and federal regulations surrounding blockchain
and virtual currencies. Examine how these technologies impact industries such
as banking, business, and electricity. Make recommendations to protect
consumers while encouraging innovation. Monitor the implementation of House
Bill 1576 and House Bill 4474, 87th Legislature.

Witnesses testifying and
registering on the interim charges are shown on the attached witness list.

The Chair moved that the
public testimony be closed; without objection, it was so ordered.

There being no further
business, at 3:51 PM Senator Paxton moved that the Committee stand recessed
subject to the call of the chair. Without objection, it was so ordered.

__________________________________________

Senator Charles
Schwertner, Chair

__________________________________________

Annika Vandayar, Clerk

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