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Abbott signs over 300 bills Friday as deadline nears

Abbott signs over 300 bills Friday as deadline nears

Yahoo26-06-2025
AUSTIN (Nexstar) — Gov. Greg Abbott signed 306 bills Friday afternoon, including 15 described as 'critical legislation.'
Senate Bill 1035 allows individuals or entities to sue if their local government violates Texas' Right to Farm laws, which gives protections to farm owners from neighbors if their farm has been in operation for at least one year.
SB 2231 designates the second week of October as Free College Application Week, requiring the Texas Higher Education Coordinating Board to waive all college application fees during that week. The waiver only applies to in-state and public universities.
SB 2570 allows correctional officers and peace officers to use less-lethal force weapons, like pepper spray, stun guns and batons once the law takes effect Sept. 1. The law is intended to prevent officers from 'frivolous litigation' for those officers.
House Bill 11 reduces barriers for new residents of Texas by moving to recognize out-of-state occupational licenses in Texas. The law is targeted at workers who need licenses to work, like cosmetologists, electricians and real estate agents, whose licenses would be recognized if their home state's certification met similar standards to Texas.
HB 12 orders the Sunset Advisory Commission, the state commission tasked with reviewing state agencies, to provide a 10-year report on agency performance targets. The law also strengthens transparency and public input requirements for the Commission. The bill is described as taking 'DOGE' measures to the Texas government.
HB 29 mandates that if a large municipal water utility files an audit report showing it lost water, it must submit an audit planning for future mitigation. The audit must be conducted by an independent group, not the utility or the Texas Water Development Board.
HB 33 is a school safety bill, also known as the Uvalde Strong Act. It strengthens emergency preparedness, requires updated law enforcement response systems and creates comprehensive training for active shooter situations at K-12 schools.
HB 229 creates legal definitions for male and female sexes, and reinforces that those are the only two sexes recognized in Texas.
HB 1393 creates a trigger law establishing permanent Daylight Savings Time across both time zones in Texas, if federal law establishes a law also.
HB 1481 mandates the creation of policies in public schools to ban cellphones, smart watches and other personal communication devices.
HB 2294 allows local workforce development boards to reimburse childcare providers for low-income students if their rating under the Texas Rising Star Program is sufficient, even if the private rate is lower.
HB 2306 takes away the opportunity for parole for those convicted of human trafficking if the victim was a child or disabled person.
HB 2674 prevents the Texas Education Agency and other state public education institutions from enacting regulations on homeschooling.
HB 5115 expands penalties on election fraud to include destroying or discarding completed ballots, counting invalid votes or refusing to count valid ones and altering vote counts to exclude or include votes improperly. It also heightens the offense of election fraud to a second-degree felony.
HB 5629 requires state agencies to expedite the process and waive fees for approval occupational licenses for veterans, active duty military members and their spouses.
The deadline to sign or veto remaining legislation is Sunday.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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White House set to unveil closely watched crypto policy report
White House set to unveil closely watched crypto policy report

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White House set to unveil closely watched crypto policy report

By Hannah Lang (Reuters) -A cryptocurrency working group formed by President Donald Trump is set to release a report on Wednesday that is expected to outline the administration's stances on tokenization and market-defining crypto legislation, among other issues critically important to the digital asset industry. Shortly after taking office in January, Trump ordered the creation of a crypto working group tasked with proposing new regulations, making good on his campaign promise to overhaul U.S. crypto policy. Wednesday's report is a culmination of the task force's work so far and its first public findings. In line with Trump's January executive order, it will lay out what rules and laws should be enacted to advance the policy goals of the pro-crypto White House. Those include making sure that the Securities and Exchange Commission has a framework in place for firms to offer blockchain-based stocks and bonds, according to one person familiar with the discussions. The report is also expected to discuss the administration's wish list for legislation Congress is currently debating to create broad regulatory guidelines for cryptocurrency, according to a second person familiar with the report. The working group led by Trump official Bo Hines is composed of several administration officials including Treasury Secretary Scott Bessent, SEC Chair Paul Atkins and Director of the Office of Management and Budget Russell Vought. The White House, Treasury Department and the SEC did not immediately respond to requests for comment on the report. "While there have been regulatory regimes in place that have maybe been piecemeal or have allowed the industry to grow in certain ways, the recommendations that we expect to see in the report will be a good roadmap for how to build out crypto as a continued important part of the economy going forward," said Rebecca Rettig, chief legal officer at crypto firm Jito Labs. On the campaign trail, Trump courted crypto cash by pledging to be a "crypto president" and promote the adoption of digital assets. That is in stark contrast to former President Joe Biden's regulators which, in a bid to protect Americans from fraud and money laundering, cracked down on the industry. The Biden administration sued exchanges Coinbase, Binance and dozens more, alleging they were flouting U.S. laws. Trump's SEC has since dropped those cases. TOKENIZATION, STABLECOINS, MARKET STRUCTURE Industry participants will be looking closely at what the report says about tokenization, the process of turning financial assets - such as bank deposits, stocks, bonds, funds and even real estate - into crypto assets. Crypto firms and others have been increasingly discussing the prospect of tokenizing securities as a new way to facilitate trading. Coinbase recently told Reuters it was seeking a U.S. green light from the SEC to offer blockchain-based stocks. The SEC has yet to weigh in publicly on that request. Wednesday's report is expected to recognize the need for the SEC to develop a framework for tokenization, according to a source familiar with the discussions, but the details of the language were not immediately clear. The report will also lay out what the White House would like to see from market structure legislation working its way through Congress, according to a separate person with knowledge of the report. The House of Representatives passed a bill called the Clarity Act earlier this month that would create a formal regulatory regime for crypto, and the U.S. Senate is considering its own version of the measure. Earlier this month, Trump signed into law a bill to create federal rules for stablecoins, a type of cryptocurrency pegged to the U.S. dollar. That move was hailed as a major win for the digital asset industry, and the White House has said it wants Congress to pass market structure legislation next, which would have far wider repercussions for the industry. The crypto sector has for years argued that existing U.S. regulations are inappropriate for cryptocurrencies and has called for Congress and regulators to write new ones that clarify when a crypto token is a security, commodity or falls into another category, like stablecoins. The president's support for the crypto industry has sparked conflict-of-interest concerns, which at times have threatened to derail congressional crypto legislation. Trump's family has launched cryptocurrency meme coins, and the president also holds a stake in World Liberty Financial, a crypto platform. The White House has denied that any conflicts of interest are present.

China promises to help companies slammed by tariffs, as talks with the US left in limbo
China promises to help companies slammed by tariffs, as talks with the US left in limbo

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time4 minutes ago

  • Yahoo

China promises to help companies slammed by tariffs, as talks with the US left in limbo

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Mamdani wants a rent freeze. What would that do to the NYC housing market?
Mamdani wants a rent freeze. What would that do to the NYC housing market?

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Mamdani wants a rent freeze. What would that do to the NYC housing market?

Zohran Mamdani's victory in the New York City Democratic mayoral primary is sending shockwaves through the real estate market. But even though the 33-year-old won at the polls, some influential New Yorkers aren't sold on his democratic socialist policies—including a promise to freeze rents. The mayoral candidate campaigned on a promise to immediately freeze the rent for all 2 million-plus New Yorkers living in rent-stabilized apartments, and to triple the city's stock of affordable housing by constructing 200,000 new units over the next 10 years. That plan is certainly ruffling some feathers. Mamdani's mayoral primary victory in June was followed by a one-day sell-off in shares of companies with significant exposure to the New York real estate market, as well as threats of a mass exodus by some of the city's wealthiest denizens. Such policies might sound attractive (and clearly appealed to voters), but there are those in the real estate industry who are skeptical. 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These landlords rely on moderate rent increases to maintain their buildings, Bafitis says, noting that if that's taken off the table—and there's no commensurate relief for landlords, say in the form of reduced taxes or utilities costs—they will face a 'legitimate burden' that will ultimately affect renters. Supply issues Like Walkup, Bafitis says any holistic solution to New York's housing problem must address supply: 'If you only deal with one side of the equation, it's not going to work.' The construction of regulated housing depends on private investment, but a rent freeze could deter outside investments in buildings that are often valued based on potential rent increases, Walkup says, noting that if there's no carrot for investors—be it in the form of rent increases, subsidies, or tax incentives—they could find it less appealing to invest in regulated buildings and more attractive to invest in market-rate buildings instead. Because of the public-private partnership that's required to build this type of housing, if elected, Mamdani would have to find a way to partner with the private sector. 'There has to be something in it for them, that's the only way for it to work,' Bafitis says. And even with partners on board, there are logistical hurdles to overcome. Building a large supply of new houses quickly? 'Fuggedaboudit,' Bafitis says. 'Not in New York City.' That's a reality he deals with on a daily basis as an architect. Whereas it once took one to three years to bring a small-scale project to completion, the timeline has now stretched to more like five to seven years. 'It's just because of the red tape,' he says. 'It's mind-boggling.' Finding middle ground While both Walkup and Bafitis commend Mamdani for focusing his campaign on issues of housing affordability, they say a holistic solution is necessary to truly address this problem. And, to be fair, there are a lot of 'ifs' to be sorted out between now, the general election in November, and Mamdani potentially taking office. Like many politicians before him, Mamdani, if elected mayor, may walk back some of the promises he made as a candidate. While a rent freeze is a 'great slogan,' Mamdani would have to be a consensus-builder as mayor and find ways to work with the various well-entrenched forces in the industry, Bafitis says, adding, 'Housing is an incredibly complicated business in New York.' Finally, all the bluster this month about Mamdani's potential impact on the housing market might be a bit much, particularly with more than three months until the general election—and plenty of time for him to refine his agenda.

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