[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6322534,"mediaKeyId","2347301-7629918840859ee6fc80f9f20dbb7684","parentId",2347301,"title","Senate debate on bill to limit TDI's adoption of ESG-linked rules draws broad testimony","audioSeconds",1650,"startMs",3028740,"endMs",4679060,"viewUrl","/Search/View?dp=1&key=2347301-7629918840859ee6fc80f9f20dbb7684&start=3028&end=4679","thumbnailUrl","https://assets.pipeline.soar.com/2347301-7629918840859ee6fc80f9f20dbb7684/thumbnail_3028740.jpg","articleUrl","/articles/6322534/Texas/Senate-debate-on-bill-to-limit-TDIs-adoption-of-ESG-linked-rules-draws-broad-testimony","mediaUrl","https://secure.pipeline.soar.com/6322534-55cb1c4c9244d8a916da0aee1098141e/orig.mp4?Expires=1776237570&Signature=XHuPj0ysXZVek7p8xxsITCwxx28TPz-Y7Fqq~pGG~znJ1djmkpHUCmAkeAZuqJIS8-N-nV7sf7dARcyzV-L11Assbb6XjsZmI2gMPY9wEZsv-~SulTVV3wh4afAmdyjgEUrcLu5u1eTrdKJQByUToWjfUJt9o1JmQh0vgvZA6qoy0a0VBkQ0SNFtfBFy9tOLjGiSuUeNfTDdEG2dibXo1VvcMf1OWmmndXX8knKoDj8Um2VIxqQz4VOwvSm6nmNNv-YhfyPIgZMoe0qxu-1u4KBBcs~ZvJchA33jHoMP3b~3txxwP0mtheugCnr~HnG6jHFOR1JWyi5uNb-pLH8FNw__&Key-Pair-Id=KUT5TJCACFTXG","author","Texas Senate","date","2025-02-18T00:00:00Z","article","The Senate Committee on Business & Commerce heard extended debate on Senate Bill 495, a measure that would narrow the Department of Insurance’s rulemaking authority by prohibiting the department from adopting or enforcing certain standards tied to environmental, social and governance (ESG) criteria unless explicitly required by statute.

Sen. Sparks, the bill’s sponsor, said the measure would prevent national bodies from imposing standards on Texas that could disadvantage Texans. “Texas has consistently opposed the ESG influence,” he said, arguing the state should retain regulatory independence from national organizations.

Opponents, including Adrian Shelley of Public Citizen and Jamie Walker, a resource witness from the Texas Department of Insurance (TDI), warned the bill’s definitions could constrain the department’s ability to address climate exposure and solvency risks. Walker told senators the bill’s governance-assessment language could conflict with accreditation-related standards and the department’s existing rule that “requires compliance with the accounting practices and procedures manual as adopted by the NAIC.”

Adrian Shelley cited data on extreme-weather losses and said limiting TDI’s rulemaking could weaken the agency’s ability to respond to market departures and rising premiums. “Texas has experienced 47% of all of the billion-dollar weather disasters that have hit the nation since 1980,” Shelley said during testimony, arguing that insurer withdrawals and premium increases mean the department needs regulatory flexibility.

Trade groups and industry witnesses supported the bill as a protection against what they called external policy pressure. Jason Isaac of the American Energy Institute said the measure would preserve Texas control over its insurance regulatory framework and protect the state economy from outside influence.

Senators asked technical questions about NAIC membership, accreditation consequences and whether TDI’s routine adoption of national accounting guidance would be affected. TDI staff said NAIC discussion on climate and governance issues has occurred, and that the agency uses NAIC accounting manuals for financial oversight; they cautioned that overly broad prohibitions might unintentionally limit necessary oversight activities.

After several hours of testimony from public and resource witnesses, the committee closed public testimony and left Senate Bill 495 pending for further review and possible amendments to narrow or clarify specific provisions.","mediaType","Video","parentTitle","Senate Committee on Business and Commerce (Part II) February 18, 2025","oneSentenceSummary","The Senate Committee on Business & Commerce heard extended debate on Senate Bill 495, a measure that would narrow the Department of Insurance’s rulemaking authority by prohibiting the department from adopting certain ESG-related standards unless explicitly required by statute.","taxTitle","Senate, Legislative, Texas","taxId",16215,"location","Texas","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6322535,"Senate committee hears hours of testimony on Texas 'Bitcoin Strategic Reserve' bill",2317,44645,2362185,"/Search/View?dp=1&key=2347301-7629918840859ee6fc80f9f20dbb7684&start=44&end=2362","https://assets.pipeline.soar.com/2347301-7629918840859ee6fc80f9f20dbb7684/thumbnail_44645.jpg","/articles/6322535/Texas/Senate-committee-hears-hours-of-testimony-on-Texas-Bitcoin-Strategic-Reserve-bill","https://secure.pipeline.soar.com/6322535-677159629432e17329a1ea36c6b6cc58/orig.mp4?Expires=1776237570&Signature=RlwymJpH6VvDiwp9xPV6U4zAFTGSyzCAcFtizP2yC09siEuyn3hBuPPAPbQJzI0OUmrsEhikTjJ1DbBYUgNGXiMNaK3-KEk0WGnyxP0tA1IDAUTjdMCGvS5XGHlESnVxus2OFSmLGZmnT1f-Ny5l4bJqd2JsxxPxD~bOhDgUZJRE60LDQB-vVzUoU2oc4kqZTLdMcemBBETV6A1k8BTSPQgzKXJd93hFQ~aBcgkC~843dnPLVGIX3YxRnd6fICPGSX276qWWI98h7HKGlKJkMlOk-NNBoiYpLeNXjwWjGhsHVRQL1IlWLJ4sG75ltaJraf8Qx~6eHJU6U6FDpetSWg__&Key-Pair-Id=KUT5TJCACFTXG","The Senate Committee on Business & Commerce heard hours of public testimony on Senate Bill 21, the Bitcoin Strategic Reserve bill, with proponents urging the state to adopt Bitcoin as a long-term reserve asset and opponents warning of security, energy and fiduciary risks.

Lee Bratcher, representing the Texas Blockchain Council, told the committee that the bill would extend Texas’ leadership in “industry, energy and innovation,” and that “Bitcoin is backed by the insights from Austrian economics around monetary scarcity.” He said private companies and individual Texans have signaled willingness to donate varying amounts of Bitcoin and that the bill empowers the comptroller’s office to issue an RFP for “institutional grade qualified custodians.”

The bill’s supporters told senators it would serve as a hedge against future monetary uncertainty and could increase demand for U.S. Treasury securities through related industries. “Stablecoins are the fifteenth largest buyer of U.S. debt,” a witness said, describing stablecoin purchases of treasuries in the hundreds of billions of dollars.

Opponents and skeptical witnesses urged caution. Blake Burns of Entrana Corporation said he stood “firmly against this bill” and argued the sector still lacks sufficient consumer protections and that Bitcoin’s early use by criminal actors remains a concern. Cyrus Reid of the Sierra Club’s Lonsar chapter argued that Bitcoin’s proof-of-work model is “very energy and water intensive,” and warned about effects on local energy and water infrastructure.

Committee members questioned witnesses on cybersecurity, custody and historical loss of coins. Robert DeMarco, chief executive officer of Novara BBX, said that “Bitcoin has never been hacked,” clarifying that attacks in the industry have targeted wallets, exchanges and custodial services rather than the protocol itself. Witnesses described improved custody options since Bitcoin’s early years — including hardware wallets, multisignature arrangements and insured custodians — and explained how lost private keys can permanently remove coins from circulation, reducing supply.

Witnesses also debated technical risks. Cort Welty, founder of Introna Corporation and leader of a tokenization work group, testified that Bitcoin’s cryptography is “legacy” and urged post-quantum encryption and additional controls for sovereignty and national-security uses; others disputed that characterization or said newer distributed ledger technologies are more appropriate for some government uses.

After multiple panels of public comment and questioning by senators, Chairman Schwartner closed public testimony. The committee left Senate Bill 21 pending for further consideration and rulemaking input, including the comptroller’s role in custody and acceptance of donations.

Lawmakers and witnesses signaled more information will be collected on donor identities, custody arrangements and technical safeguards before any appropriation or final decision by the legislature or the comptroller’s office.","Supporters told the Senate Committee on Business & Commerce that Senate Bill 21 would give Texas a hedging asset and advance innovation; opponents raised cybersecurity, energy and fiduciary concerns. Public testimony closed and the bill was left pending.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6322530,"Committee advances and hears resource testimony on multiple technical bills; most left pending",2637,2375890,5013800,"/Search/View?dp=1&key=2347301-7629918840859ee6fc80f9f20dbb7684&start=2375&end=5013","https://assets.pipeline.soar.com/2347301-7629918840859ee6fc80f9f20dbb7684/thumbnail_2375890.jpg","/articles/6322530/Texas/Committee-advances-and-hears-resource-testimony-on-multiple-technical-bills-most-left-pending","https://secure.pipeline.soar.com/6322530-636279b6d6cde446f5f5d51b5b7b3fff/orig.mp4?Expires=1776237570&Signature=ea-D5VI7eg8ksX13LWnOj8wKJvMop8p1ewpZuQV69LAoE~yKc-jlkleNEfLshC-RaKO5o3T9BbsGp-AJgWYGtpsK2aaNVTMcq5tvjDFYE7GyukJ9yaARYwulXxkBV10WA0XXL4BmYeaTGWPsKsWhwEY0Eec4WheddDdlfNM05kCCSVqR2B9YA~S2faHQMokXKsCGHLvxi3-h2m1kPzRngotoRVGyv1q34k86Kry6Zkhr5ORSi5z9m7a-i1QiCkfGCkdDnD0WEijCK13Tlw5y0HcnO4oK3w9UDDVwqz-VHZ05QlnHuPW0b1PRUbRz4yIdXPnk59tx4HX3gkBuh8jhMA__&Key-Pair-Id=KUT5TJCACFTXG","The Senate Committee on Business & Commerce heard a set of comparatively brief presentations and resource testimonies on multiple bills and left each pending for additional consideration.

Senate Bill 627, offered by Sen. Zaffirini, is a TDLR-requested cleanup measure to remove obsolete language from the Occupations Code related to dietitian licensure and align statute with current agency practice; the committee opened and closed public testimony and left the bill pending.

Senate Bill 703, also presented by Sen. Zaffirini, would update massage licensure and strengthen disqualifying offense language; senators heard the agency request and left the bill pending.

Senate Bill 764 would modernize hearing procedures at the Texas Department of Licensing and Regulation for electricians; TDLR presented the cleanup proposal and the committee left the bill pending.

Senate Bill 372, introduced by Sen. Campbell, would codify an attorney general opinion allowing a corporate entity to serve as a substitute trustee in mortgage foreclosure sales under Texas Property Code 51. George Lane of Auction.com testified in support, explaining that clarifying that a trustee may be a legal entity would reduce administrative burden and confusion. The committee left the bill pending.

Senate Bill 262, sponsored by Sen. Perry, creates an alternate pathway to CPA licensure by allowing candidates with 120 hours of accounting-focused coursework and two years’ work experience to sit for the CPA exam. Mohan Kuruvala, chair of the Texas Society of CPAs, testified the bill is designed to address pipeline shortages and does not reduce overall professional standards; the committee left the bill pending.

Senate Bill 376 would expand confidentiality protections for current and former attorney general employees and their immediate family members; the committee received a resource witness from the attorney general’s office and left the bill pending.

Senate Bill 140, sponsored by Sen. Hall, would extend the definition of a telephone solicitation in chapter 302 to include text messaging so that unauthorized text solicitations could be treated the same as telephone solicitations; the bill was presented, public testimony was opened and closed, and it was left pending.

Senate Bill 842 addresses liability protections for ringside physicians at TDLR-licensed combative sports events. Courtney Arbor, Executive Director of TDLR, and Chris Resi, director of field inspections at TDLR, explained that events are required to assign ringside physicians and that physician reluctance to serve — rather than recorded lawsuits — has limited available staffing. Resi told the committee that the agency has about 70 physicians available statewide, but only 20–30 routinely attend events; he also said there have been no lawsuits to date arising from those duties. The bill would provide civil-immunity protection for ringside physicians except in cases of gross negligence; the committee left the bill pending.

Across the items the committee relied on resource and stakeholder testimony from state agencies, trade groups and individual witnesses and asked authors and agencies for follow-up materials in several cases. Each bill was left pending for additional review.","The Senate Business & Commerce Committee considered several technical and cleanup bills involving TDLR, licensure, CPA licensure pathways, foreclosure trustees, telephone solicitation definitions and ringside physician liability. Public testimony was received on each and the bills were left pending for further consideration.","actionData","errors"]

Article not found

Senate debate on bill to limit TDI's adoption of ESG-linked rules draws broad testimony

Senate committee hears hours of testimony on Texas 'Bitcoin Strategic Reserve' bill

Committee advances and hears resource testimony on multiple technical bills; most left pending