Minutes — Senate Committee on Business & Commerce (June 24, 2026)

Summary

Minutes of the Senate Committee on Business & Commerce for Wednesday, June 24, 2026, 9:00 AM. The Chair called the meeting to order at 9:01 AM, and a quorum was present. The Chair laid out interim charges and opened invited testimony on Strengthening Regulatory Oversight and Access to Affordable Insurance for Texans, Fostering Financial Technology Innovation and Examining Broadband Development Office Strategic Planning. The financial technology charge covers blockchain technology, cryptocurrency, virtual currency kiosks and a review of the implementation of Senate Bill 21, 89th Legislature. Senator Schwertner moved at 3:53 PM that the Committee stand recessed subject to the call of the Chair.

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MINUTES

SENATE
COMMITTEE ON BUSINESS & COMMERCE

Wednesday,
June 24, 2026

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 Wednesday, June 24,
2026, in the Capitol Extension, Room E1.012, at Austin, Texas.

MEMBERS PRESENT: — — — — MEMBERS ABSENT: — — Senator Charles — Schwertner, Chair — — — — Senator Brent Hagenbuch — — Senator Phil King, Vice — Chair — — — — Senator Lois Kolkhorst — — Senator César Blanco — — — — — — Senator Donna Campbell — — — — — — Senator Adam Hinojosa — — — — — — Senator Nathan Johnson — — — — — — Senator José Menéndez — — — — — — Senator Kevin Sparks — — — — — — Senator Judith — Zaffirini

MEMBERS PRESENT:

MEMBERS ABSENT:

Senator Charles
 Schwertner, Chair

Senator Brent Hagenbuch

Senator Phil King, Vice
 Chair

Senator Lois Kolkhorst

Senator César Blanco

Senator Donna Campbell

Senator Adam Hinojosa

Senator Nathan Johnson

Senator José Menéndez

Senator Kevin Sparks

Senator Judith
 Zaffirini

The Chair called the
meeting to order at 9:01 AM. There being a quorum present, the following
business was transacted:

The following members
arrived after the roll was called: Senator Johnson and Senator Menéndez.

The Chair laid out the
following interim charges and opened invited testimony (see attached witness
list) for discussion:

Strengthening Regulatory
Oversight and Access to Affordable Insurance for Texans: Evaluate the
rising cost of property and casualty insurance in Texas. Consider the stability
and competitiveness of the Texas insurance market, insurer participation, and
coverage availability to meet consumer demand. Make recommendations to increase
affordability, improve reporting to strengthen consumer protections, and
support timely regulatory and legislative responses.

Senator King assumed the
chair.

Senator Schwertner
resumed the chair.

Fostering Financial
Technology Innovation: Evaluate the future of blockchain technology and
cryptocurrency in the state of Texas and assess Texas’ coordination with
federal rules. Assess how the state’s financial regulatory agencies respond to
emerging financial technologies and business models, while prioritizing the
protection of consumers. Examine the prevalence of virtual currency kiosks in
Texas and make recommendations to support their use while protecting vulnerable
Texans from scams. Review the implementation of Senate Bill 21, 89th
Legislature.

Examining Broadband
Development Office Strategic Planning: Review the Broadband Development
Office's (BDO) management of existing state and federal broadband development
funds, as well as ongoing funding decisions under the various funding programs.
Evaluate the BDO’s strategic plan for timely broadband deployment and make
recommendations to improve the efficiency of BDO programs using existing
resources.

Senator King assumed the
chair.

Senator Schwertner
resumed the chair.

Witnesses testifying and
registering on the bill are shown on the attached list.

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

There being no further
business, at 3:53 PM Senator Schwertner 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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