Minutes, Senate Committee on Business & Commerce, Wednesday, June 24, 2026 9:00 AM (Texas Senate, 89th Legislature)
Summary
Minutes of an interim public hearing of the Senate Committee on Business & Commerce on June 24, 2026, chaired by Senator Charles Schwertner. The committee laid out interim charges and took invited testimony on three subjects: the rising cost of property and casualty insurance and the stability of the Texas insurance market; financial technology, including blockchain, cryptocurrency, virtual currency kiosks and the implementation of Senate Bill 21 of the 89th Legislature; and the Broadband Development Office's management of broadband funds and its strategic plan. The committee recessed at 3:53 PM.
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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
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
Senate Committee on Business & Commerce
Minutes
Wednesday, June 24, 2026
Page 2
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.
Senate Committee on Business & Commerce
Minutes
Wednesday, June 24, 2026
Page 3
__________________________________________
Senator Charles Schwertner, Chair
__________________________________________
Annika Vandayar, Clerk
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