Nebraska legislation · 109th Legislature
Nebraska LB1063: Change provisions relating to applicants and licensees under the Nebraska Money Transmitters Act and prohibit money transmission by foreign adversary persons
Status: Failed, April 17, 2026
What the bill says
From the introduced text:
ONE HUNDRED NINTH LEGISLATURE - SECOND SESSION - 2026 COMMITTEE STATEMENT (UPDATED) LB1063 Hearing Date: Tuesday February 03, 2026 Committee On: Banking, Commerce and Insurance Introducer: Bostar One Liner: Change provisions relating to applicants and licensees under the Nebraska Money Transmitters Act and prohibit money transmission by foreign adversary persons Roll Call Vote - Final Committee Action: Advanced to General File with amendment(s) Vote Results: Aye: 8 Senators Jacobson, Bostar, Dungan, Hallstrom, Hardin, Riepe, von Gillern, Wordekemper Nay: Absent: Present Not Voting: Testimony: Proponents: Representing: Senator Eliot Bostar Opening Presenter Kelly Lammers Nebraska Department of Banking and Finance Dexter Schrodt Nebraska Independent Community Bankers Association Opponents: Representing: Neutral: Representing: * ADA Accommodation Written Testimony Summary of purpose and/or changes: LB 1063 modernizes the Nebraska Money Transmitters Act (Act) to exclude influence from foreign adversaries and regulate informal transfer systems. By integrating new security mandates into existing law, the bill establishes a clear legal framework that requires license applicants to certify they are not controlled by entities from hostile nations, while also broadening oversight to include unconventional methods like hawala networks. Key to this legislation is the creation of a categorical ban and a legal presumption of unfitness for any foreign adversary person, effectively shifting the burden of proof to businesses to demonstrate their independence from foreign interference. The bill empowers …
Sponsors
- Eliot Bostar (NP, 29) · primary sponsor
Latest actions
- : Provisions/portions of LB1063 amended into LB838 by AM2326
- : Indefinitely postponed
- : Banking, Commerce and Insurance AM1955 filed
- : Placed on General File with AM1955
- : Notice of hearing for February 03, 2026
- : Referred to Banking, Commerce and Insurance Committee
- : Kauth FA721 filed
- : Date of introduction
Common questions
- What is LB1063?
- LB1063 is a bill in the Nebraska Legislature (109th Legislature): Change provisions relating to applicants and licensees under the Nebraska Money Transmitters Act and prohibit money transmission by foreign adversary persons.
- What is the status of LB1063?
- Failed as of April 17, 2026. Latest action: Provisions/portions of LB1063 amended into LB838 by AM2326 (April 17, 2026).
- Who sponsored LB1063?
- Eliot Bostar (NP, 29).
- Where is the official record for LB1063?
- On the Nebraska Legislature website: https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63213
Source: official Nebraska record. Tracked by Delilah, AI for legislation across all 50 states and Congress.