SB 249 — An Act relating to virtual currency kiosks; relating to transactions involving virtual currency; relating to unfair trade or deceptive acts or practices; and providing for an effective date.
Last action — (S) EFFECTIVE DATE(S) OF LAW 10/1/26
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced February 18, 2026. Enacted.
Signed by Governor Mike Dunleavy (Republican) on July 16, 2026.
Odds of enactment
High chanceBased on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
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Enacted
Current position in the legislative process.
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22 sponsors
1 primary, 21 co-sponsors signed on.
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Bipartisan support
Sponsored across 3 parties (12 R · 9 D · 1 I) — cross-party backing.
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Cleared a recorded vote
Passed 3 recorded votes so far.
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
In plain language
The bill regulates transactions involving virtual currency through kiosks.
This legislation establishes guidelines for virtual currency kiosks and addresses potentially unfair trade practices. It aims to ensure transparency and protect consumers in virtual currency transactions.
What this means for you
- Consumers: This means consumers will have clearer protections and guidelines when using virtual currency kiosks.
Bill Text
What changed in the latest version
333 added · 305 removedPlain-language change summary
The updated version of SB 249 has added a specific requirement for virtual currency kiosk operators to obtain a money transmission license before they can conduct transactions or present themselves as offering such services. Additionally, it mandates that these operators must register and receive approval from the relevant department before setting up a kiosk in Alaska. This change is important because it increases oversight of virtual currency operations, aiming to protect consumers from potentially deceptive practices in the rapidly growing digital currency space.
34-LS1465\ALAWS SENATEOF BILLALASKA NO.Source Chapter No.
249HCS INCSSB THE249(L&C) LEGISLATURE_______ OFAN THEACT STATERelating OFto ALASKAvirtual THIRTY-FOURTHcurrency LEGISLATUREkiosks; - SECOND SESSION BY SENATORS TILTON, Cronk, Myers, Dunbar, Claman, Merrick, Bjorkman, Tobin, Kawasaki, Giessel, Gray-Jackson, Rauscher, Kaufman, Stedman, Stevens Introduced:
2/18/26 Referred:
Labor & Commerce, Judiciary A BILL FOR AN ACT ENTITLED "An Act relating to virtual currency kiosks;
and relating to unfair trade or deceptive acts or practices."practices; BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
*and Sectionproviding 1.for an effective date.
_______________ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
THE ACT FOLLOWS ON PAGE 1 Enrolled SB 249 AN ACT Relating to virtual currency kiosks;
relating to transactions involving virtual currency;
relating to unfair trade or deceptive acts or practices;
and providing for an effective date.
_______________ * Section 1.
-1- Enrolled SB 249 Sec.
(a) Within 45 days after the end of each calendar SB0249A -1- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A quarter, a virtual currency kiosk operator shall submit a quarterly report to the department for each location in the state at which the person operates a virtual currency kiosk.
(3) thethetotal totalnumberand numbervalueofvirtual and value of virtual currency transactions thethevirtual virtual currency kiosk operator conducted through virtual currency kiosks in the state;
Enrolled SB 249 -2- SB0249A New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A (6) contact details for the virtual currency kiosk operator's compliance officer;
(b) WhenWhenauserengages awithavirtualcurrencykiosk,thevirtualcurrencykiosk user engages with a virtual currency kiosk, the virtual currency kiosk operator shall obtain acknowledgment of receipt of all disclosures required under this section.
If someone asked you to deposit money in this machine or is on the telephone with you and claims to be a friend or family member, government agent, computer software representative, bill collector, law enforcement officer, or anyone you do not know personally IMMEDIATELY STOP THIS TRANSACTION and contact your local SB0249A -3- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A law enforcement and the kiosk operator.
NEVER -3- Enrolled SB 249 SEND MONEY to someone you don't know;
(6) the exchange rate used between the virtual currency and United SB 249 -4- SB0249A New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A States dollar;
Enrolled SB 249 -4- (8) any additional information the department requires by regulation.
(a) A virtual currency kiosk operator or SB0249A -5- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A their authorized delegate shall verify the identity of a user before accepting payment from the user for a virtual currency transaction.
A virtual currency kiosk operator or -5- Enrolled SB 249 their authorized delegate shall obtain a copy of a government-issued identification card that identifies the user and shall collect additional user information, including the user's name, date of birth, telephone number, address, and electronic mail address, before accepting a payment from the user at a virtual currency kiosk.
(a) For cases related to fraud, a virtual currency kiosk operator shall issue a refund to a user in the full amount of all transactions paid by the user at the time of the transaction, including transaction charges, regardless of any acknowledgment the user may have made before finalizing the transactions.
and SB 249 -6- SB0249A New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A (3) within 120 days after contacting the virtual currency kiosk operator, submitted to the virtual currency kiosk operator a police report, report by the department, or a sworn statement detailing the fraudulent nature of the transaction.
(b) If the conditions for a refund under this section are met, the virtual currency kiosk operator shall issue a full refund within 72 hours after receiving a copy of the police report, report by the department, or sworn statement.
For all communication between the virtual Enrolled SB 249 -6- currency kiosk operator and the user, the virtual currency kiosk operator shall provide written notices in both English and Spanish and communicate with the user in their preferred language through staff, oral interpretation services, or auxiliary aids and services.
TheTheuse useofalternative of alternative products, including onlineonlinepurchasing purchasingorover-the- orcounter over- the-counter platforms, may not be employed to circumvent or exceed the limits in this section.
A virtual currency kiosk operator may not collectcollectfeesfromauserforatransactionthattotalmorethan10percentofthetransaction fees from a user for a transaction that total more than three percent of the transaction value in United States dollars or the equivalent in virtual currency.
andand10:00 10:00 p.m.
AlaskaAlaskatime.Acustomerservicetoll-freenumbermust time.bedisplayed on the virtual currency kiosk or the virtual currency kiosk screen.
A customer service toll-free number must be displayed on the virtual currency kiosk or the virtual currency kiosk screen.
The dedicated line SB0249A -7- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A must be an electronic mail address or telephone number based in the United States.
(a) A virtual currency kiosk operator that violates -7- Enrolled SB 249 AS 06.55.120 - 06.55.195 commits an unfair trade or deceptive act or practice in violation of AS 45.50.471.
(4) "user" means ana individualperson or entity that initiates, authorizes, or SB 249 -8- SB0249A New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A completes a transaction involving virtual currency through a virtual currency kiosk for the purpose of purchasing, selling, transferring, or otherwise exchanging virtual currency;
(5) "virtual currency"currency address" means an electronicalphanumeric assetidentifier thatassociated conferswith economic,a proprietary,virtual orcurrency accesswallet rightsthat oridentifies powersthe andlocation isto recordedwhich usinga cryptographicallyvirtual securedcurrency distributedtransaction ledgercan technology,be orsent; any similar analogue;
(6) "virtual currency address"kiosk" means an alphanumericelectronic identifierterminal associatedthat withenables the virtual currency kiosk operator to facilitate a virtual currency walletexchange by connecting directly with another person that identifiesexchanges thevirtual locationcurrency, todrawing whichupon aEnrolled SB 249 -8- virtual currency transactionin canthe bepossession sent;of the electronic terminal's operator, or by another method;
(7) "virtual currency kiosk"kiosk operator" means a person actingthat onengages thein behalf of, or a mechanical agent of, the virtual currency kioskbusiness operatoractivity toby enableway theof a virtual currency kiosk operatorlocated toin facilitate the exchangestate ofor virtuala currencyperson forthat money,owns, bankoperates, credit,manages, or otherprovides virtualcustodial currencyor bynoncustodial connectingservices directlyfor to a separate virtual currency exchange,kiosk drawinglocated upon virtual currency in the possessionstate ofthrough thewhich electronicvirtual terminal'scurrency operator,business oractivity byis anotheroffered; method;
(8) "virtual currency kiosk operator"transaction" means a persontransaction thatconducted engagesor performed, in virtualwhole currencyor businessin activitypart, bythrough way of a virtual currency kiosk located in the state or a persontransaction thatmade owns,at operates,a manages,virtual orcurrency provideskiosk custodialto orpurchase noncustodial services for a virtual currency kioskwith locatedUnited inStates thedollars stateor throughto whichsell virtual currency businessfor activityUnited isStates offered;dollars;
(9) "virtual currency kioskwallet" transaction" means a transactionsoftware conductedapplication or performed,other inmechanism wholeproviding ora in part, by electronic means throughto ahold virtualthe currencykeys kiosknecessary or a transaction made at a virtual currency kiosk to purchaseaccess virtualand currencytransfer with United States dollars or to sell virtual currencycurrency. for United States dollars;
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(10) "virtual currency wallet" means a software application or other mechanism providing a means to hold the keys necessary to access and transfer virtual currency.
SB0249A -9- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A (15) "money transmission" (A) means (i) selling or issuing payment instruments or stored value,value orto receivinga moneyperson orlocated monetaryin valuethis forstate; transmission;
(ii) [, OR] receiving money or (ii)monetary operatingvalue afor virtualtransmission currencyto kiosk;the state, from the state, or within the state;
(B)or [,(iii) BUT]operating doesa notvirtual includecurrency thekiosk; provision solely of delivery, online services, telecommunications services, or network access;
(B) [, BUT] does not mean [INCLUDE] the provision solely of [DELIVERY,] online services, telecommunications services, or network access;
AS 06.55.990 is amended by adding new paragraphs to read:
(25) "control of virtual currency," when used in reference to a transaction or relationship involving virtual currency, means the power to execute unilaterally or prevent indefinitely a virtual currency transaction;
-9- Enrolled SB 249 (26) "in this state" means at a physical location within this state for a transaction requested in person;
(27) "virtual currency" (A) means a digital representation of value that (i) is used as a medium of exchange, unit of account, or store of value;
and (ii) is not money, whether or not denominated in money;
(B) does not mean (i) a transaction in which a merchant grants, as part of an affinity or rewards program, value that cannot be taken from or exchanged with themerchant formoney,bank credit, orvirtual currency;
or (ii) adigitalrepresentationofvalueissuedbyoron behalf of a publisher and used solely within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform;
(28) "virtual currency administration" means issuing virtual currency with the authority to redeem the currency for money, bank credit, or other virtual currency;
(29) "virtual currency business activity" means (A) exchanging, transferring, or storing virtual currency or engaging in virtual currency administration, whether directly or through an agreement with a virtual currency control services vendor;
(B) holding electronic precious metals or electronic certificates representing interests in precious metals on behalf of another person or issuing shares or electronic certificates representing interests in precious metals;
or (C) exchanging one or more digital representations of value used within one or more online games, game platforms, or family of games for (i) virtual currency offered by or on behalf of the same publisher from which the original digital representation of value was received;
or Enrolled SB 249 -10- (ii) money or bank credit outside the online game, game platform, or family of games offered by or on behalf of the same publisher from which the original digital representation of value was received;
(30) "virtual currency control services vendor" means a person that has control of virtual currency solely under an agreement with a person that, on behalf of another person, assumes control of virtual currency;
(31) "virtual currency exchange" means to (A) assume control of virtual currency from or on behalf of a person, at least momentarily;
(B) sell, trade, or convert (i) virtual currency for money, bank credit, or one or more forms of virtual currency or money;
or (ii) bank credit for one or more forms of virtual currency;
(32) "virtual currency transfer" means to assume control of virtual currency from or on behalf of a person and to (A) credit the virtual currency to the account of another person;
(B) move the virtual currency from one account of a person to another account of the same person;
or (C) relinquish control of virtual currency to another person.
* Sec.
5.
SB* 249Sec. -10- SB0249A New Text Underlined [DELETED TEXT BRACKETED]
6.
This Act takes effect October 1, 2026.
-11- Enrolled SB 249
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Action History
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(S) EFFECTIVE DATE(S) OF LAW 10/1/26
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(S) LAW W/O GOV SIGNATURE 6/30 CH 50 SLA 26
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(S) 3:55 P.M. 6/15/26 Transmitted to Governor
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(S) EFFECTIVE DATE(S) SAME AS PASSAGE
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(S) CONCUR AM OF (H) Y20 N-
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(S) CONCUR MESSAGE READ AND TAKEN UP
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(H) VERSION: HCS CSSB 249(L&C)
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(H) TRANSMITTED TO (S) AS AMENDED
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(H) VANCE
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(H) CROSS SPONSOR(S): GRAY, HALL, TOMASZEWSKI, JOSEPHSON, GALVIN, MCCABE, MEARS,
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(H) EFFECTIVE DATE(S) SAME AS PASSAGE
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(H) PASSED Y40
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(H) READ THE THIRD TIME HCS CSSB 249(L&C)
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(H) ADVANCED TO THIRD READING UC
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(H) L&C HCS ADOPTED UC
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(H) READ THE SECOND TIME
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(H) RULES TO CALENDAR 5/19/2026
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(H) FN1: ZERO(CED)
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(H) AM: SADDLER
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(H) DP: FRIER, COULOMBE, CARRICK, FIELDS, HALL
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(H) L&C RPT HCS(L&C) 5DP 1AM
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(H) Moved HCS CSSB 249(L&C) Out of Committee -- Recessed to 08:00 am 5/14--
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(H) LABOR & COMMERCE at 03:15 PM BARNES 124
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(H) L&C
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(H) READ THE FIRST TIME - REFERRALS
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(S) VERSION: CSSB 249(JUD) AM
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(S) TRANSMITTED TO (H)
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(S) EFFECTIVE DATE(S) SAME AS PASSAGE
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(S) PASSED Y20 N-
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(S) STEVENS
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(S) COSPONSOR(S): KAWASAKI, GIESSEL, GRAY-JACKSON, RAUSCHER, KAUFMAN, STEDMAN,
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(S) AUTOMATICALLY IN THIRD READING
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(S) AM NO 1 ADOPTED UC
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(S) RETURN TO SECOND FOR AM 1 UC
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(S) READ THE THIRD TIME CSSB 249(JUD)
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(H) <Bill Hearing Canceled> -- Delayed to a Call of the Chair --
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(H) LABOR & COMMERCE at 03:15 PM BARNES 124
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(S) COSPONSOR(S): CLAMAN, MERRICK, BJORKMAN, TOBIN
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(S) ADVANCED TO THIRD READING 5/12 CAL
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(S) JUD CS ADOPTED UC
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(S) READ THE SECOND TIME
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(S) RULES TO CALENDAR 5/11/2026
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(S) FN1: ZERO(CED)
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(S) NR: TOBIN
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(S) DP: CLAMAN, TILTON, KIEHL, STEVENS
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(S) JUD RPT CS 4DP 1NR TECHNICAL TITLE CHANGE
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(S) Moved CSSB 249(JUD) Out of Committee
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(S) JUDICIARY at 01:30 PM BUTROVICH 205
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(S) Heard & Held
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(S) JUDICIARY at 01:30 PM BUTROVICH 205
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(S) Heard & Held
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(S) JUDICIARY at 01:30 PM BUTROVICH 205
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(S) COSPONSOR(S): DUNBAR
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(S) FN1: ZERO(CED)
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(S) AM: DUNBAR, MERRICK
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(S) NR: YUNDT, GRAY-JACKSON
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(S) DP: BJORKMAN
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(S) L&C RPT CS 1DP 2NR 2AM SAME TITLE
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(S) Moved CSSB 249(L&C) Out of Committee
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(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
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(S) Heard & Held
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(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
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(S) Heard & Held
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(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
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(S) COSPONSOR(S): CRONK, MYERS
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(S) L&C, JUD
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(S) READ THE FIRST TIME - REFERRALS
Sponsors
- Donna Mears · Cosponsor
- Kevin McCabe · Cosponsor
- Alyse Galvin · Cosponsor
- Andy Josephson · Cosponsor
- Frank Tomaszewski · Cosponsor
- Carolyn Hall · Cosponsor
- Andrew Gray · Cosponsor
- Gary Stevens · Cosponsor
- Bert Stedman · Cosponsor
- James Kaufman · Cosponsor
- Elvi Gray-Jackson · Cosponsor
- Cathy Giessel · Cosponsor
- Scott Kawasaki · Cosponsor
- Löki Tobin · Cosponsor
- Jesse Bjorkman · Cosponsor
- Kelly Merrick · Cosponsor
- Matt Claman · Cosponsor
- Forrest Dunbar · Cosponsor
- Robert Myers · Cosponsor
- Mike Cronk · Cosponsor
- Cathy Tilton · Primary
- George Rauscher · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 21 co-sponsors · 43 not signed on
Sponsors (1)
Co-sponsors (21)
- Donna Mears D
- Kevin McCabe R
- Alyse Galvin N
- Andy Josephson D
- Frank Tomaszewski R
- Carolyn Hall D
- Andrew Gray D
- Gary Stevens R
- Bert Stedman R
- James Kaufman R
- Elvi Gray-Jackson D
- Cathy Giessel R
- Scott Kawasaki D
- Löki Tobin D
- Jesse Bjorkman R
- Kelly Merrick R
- Matt Claman D
- Forrest Dunbar D
- Robert Myers R
- Mike Cronk R
- George Rauscher R
Not signed on (43)
43 members have not signed on to this bill.
Show all 43 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 11 | 0 | 0 | 0 |
| D | 9 | 0 | 0 | 0 |
| Total | 20 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (20)
| Member | Party | Vote |
|---|---|---|
| Bill Wielechowski | D | Yea |
| Donald Olson | D | Yea |
| Elvi Gray-Jackson | D | Yea |
| Forrest Dunbar | D | Yea |
| Jesse Kiehl | D | Yea |
| Lyman Hoffman | D | Yea |
| Löki Tobin | D | Yea |
| Matt Claman | D | Yea |
| Scott Kawasaki | D | Yea |
| Bert Stedman | R | Yea |
| Cathy Giessel | R | Yea |
| Cathy Tilton | R | Yea |
| Gary Stevens | R | Yea |
| George Rauscher | R | Yea |
| James Kaufman | R | Yea |
| Jesse Bjorkman | R | Yea |
| Kelly Merrick | R | Yea |
| Mike Cronk | R | Yea |
| Robert Myers | R | Yea |
| Robert Yundt | R | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 20 | 0 | 0 | 0 |
| D | 14 | 0 | 0 | 0 |
| N | 5 | 0 | 0 | 0 |
| Unaffiliated | 1 | 0 | 0 | 0 |
| Total | 40 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (40)
| Member | Party | Vote |
|---|---|---|
| Steve St. Clair | — | Yea |
| Andi Story | D | Yea |
| Andrew Gray | D | Yea |
| Andy Josephson | D | Yea |
| Ashley Carrick | D | Yea |
| Carolyn Hall | D | Yea |
| Donna Mears | D | Yea |
| Genevieve Mina | D | Yea |
| Maxine Dibert | D | Yea |
| Neal Foster | D | Yea |
| Nellie Unangiq Jimmie | D | Yea |
| Robyn Niayuq Frier | D | Yea |
| Sara Hannan | D | Yea |
| Ted Eischeid | D | Yea |
| Zack Fields | D | Yea |
| Alyse Galvin | N | Yea |
| Bryce Edgmon | N | Yea |
| Calvin Schrage | N | Yea |
| Ky Holland | N | Yea |
| Rebecca Himschoot | N | Yea |
| Bill Elam | R | Yea |
| Chuck Kopp | R | Yea |
| Dan Saddler | R | Yea |
| David Nelson | R | Yea |
| David Nelson | R | Yea |
| DeLena Johnson | R | Yea |
| Elexie Moore | R | Yea |
| Frank Tomaszewski | R | Yea |
| Jamie Allard | R | Yea |
| Jeremy Bynum | R | Yea |
| Jubilee Underwood | R | Yea |
| Julie Coulombe | R | Yea |
| Justin Ruffridge | R | Yea |
| Kevin McCabe | R | Yea |
| Louise Stutes | R | Yea |
| Mia Costello | R | Yea |
| Mike Prax | R | Yea |
| Rebecca Schwanke | R | Yea |
| Sarah Vance | R | Yea |
| Will Stapp | R | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 11 | 0 | 0 | 0 |
| D | 9 | 0 | 0 | 0 |
| Total | 20 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (20)
| Member | Party | Vote |
|---|---|---|
| Bill Wielechowski | D | Yea |
| Donald Olson | D | Yea |
| Elvi Gray-Jackson | D | Yea |
| Forrest Dunbar | D | Yea |
| Jesse Kiehl | D | Yea |
| Lyman Hoffman | D | Yea |
| Löki Tobin | D | Yea |
| Matt Claman | D | Yea |
| Scott Kawasaki | D | Yea |
| Bert Stedman | R | Yea |
| Cathy Giessel | R | Yea |
| Cathy Tilton | R | Yea |
| Gary Stevens | R | Yea |
| George Rauscher | R | Yea |
| James Kaufman | R | Yea |
| Jesse Bjorkman | R | Yea |
| Kelly Merrick | R | Yea |
| Mike Cronk | R | Yea |
| Robert Myers | R | Yea |
| Robert Yundt | R | Yea |
Subjects
Frequently asked questions
- Who sponsors SB 249?
- SB 249 is sponsored by Donna Mears (D), Kevin McCabe (R), Alyse Galvin (N), Andy Josephson (D), Frank Tomaszewski (R), Carolyn Hall (D), Andrew Gray (D), Gary Stevens (R), Bert Stedman (R), James Kaufman (R), Elvi Gray-Jackson (D), Cathy Giessel (R), Scott Kawasaki (D), Löki Tobin (D), Jesse Bjorkman (R), Kelly Merrick (R), Matt Claman (D), Forrest Dunbar (D), Robert Myers (R), Mike Cronk (R), Cathy Tilton (R), and George Rauscher (R).
- What is the current status of SB 249?
- This bill has been enacted into law. Introduced February 18, 2026. Enacted.
- Where can I track SB 249?
- Track SB 249 free on One Click Politics — get push/email alerts when it moves.
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