CA’s Journalism Funding Deal with Google, WY’s Digital Dollar & More

Google Agrees to Help Fund Journalism in CA

California lawmakers reached a deal with Google that will provide about $250 million in public and private funding for newsrooms across the state over the next five years. Although Google has committed to spending $105 million on the effort, critics say that’s roughly the amount of money the company makes in half an hour. (PLURIBUS NEWS)

WY to Introduce Own Digital Currency

Although the Federal Reserve has been reluctant to create a central bank digital currency, Wyoming is developing its own U.S. dollar-backed stablecoin, which it is planning to launch next year. The state’s intent is to give individuals a faster, cheaper way to transact with local businesses. The state also plans to invest the reserves that back its stablecoin in treasuries and reverse repos, and use the interest generated from those investments to help fund public education.

This isn’t Wyoming’s first foray into crypto. Since 2018 the state has passed over 30 pieces of legislation aimed at creating a favorable regulatory environment for the industry. (CNBC)

Porn Website Age Verification Bill Dies in CA

A bipartisan measure (AB 3080) that would have required pornographic websites to verify that users are of legal age died ahead of the state’s Aug. 31 legislative adjournment date. The fact that such legislation has been passed mostly in red states didn’t stop the deep blue state’s Assembly from passing AB 3080 unanimously in May or its Senate Judiciary Committee from approving it unanimously in July. But the measure was held up in the Senate Appropriations Committee over First Amendment and other concerns. (CALMATTERS, LEXISNEXIS STATE NET)

—Compiled by SNCJ Managing Editor Korey Clark

As we’ve previously reported, most states have either introduced or enacted legislation related to AI in the past twelve months. AI continues to be a pressing issue for state lawmakers this year, potentially introducing a host of challenges for businesses. And we don’t foresee that changing any time soon. That is why LexisNexis® State Net® would like to offer you 30 days of AI legislative and regulatory alerts for free.*

Sign up here to Start Receiving Alerts

Disclaimer: LexisNexis® State Net® AI Alert Feed offer is limited to the individual addressee specifically selected for this promotion and is void where prohibited by law or by your employer’s policies. Individual must be a government affairs, legal or compliance professional. Offer expires December 31, 2024. Other restrictions may apply.

Visit our webpage to connect with a LexisNexis® State Net® representative and learn how the State Net legislative and regulatory tracking service can help you identify, track, analyze and report on relevant legislative and regulatory developments.