HB4258 - Relating to the authority of the comptroller of public accounts and certain political subdivisions of this state to invest certain money in cryptocurrencies.

  89R10948 CS-D     By: Reynolds H.B. No. 4258       A BILL TO BE ENTITLED   AN ACT   relating to the authority of the comptroller of public accounts and   certain political subdivisions of this state to invest certain   money in cryptocurrencies.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 404.001, Government Code, is amended by   adding Subdivisions (1) and (1-a) to read as follows:                 (1)     "Bitcoin" means a type of decentralized   cryptocurrency created by a peer-to-peer network that operates   independently of any central authority or bank.                 (1-a)     "Cryptocurrency" means a type of virtual   currency that uses cryptography to secure transactions that are   digitally recorded on a distributed ledger, such as a blockchain.          SECTION 2.  Section 404.0241, Government Code, is amended by   adding Subsection (a-1) to read as follows:           (a-1)     The comptroller may invest not more than $250 million   of the economic stabilization fund balance in Bitcoin or another   cryptocurrency.          SECTION 3.  Subchapter A, Chapter 2256, Government Code, is   amended by adding Section 2256.0165 to read as follows:           Sec.   2256.0165.     AUTHORIZED INVESTMENTS: CRYPTOCURRENCY.     (a)   In this section, "Bitcoin" and "cryptocurrency" have the   meanings assigned by Section 404.001.           (b)     A municipality or county may invest not more than $10   million of its funds or funds under its control in Bitcoin or   another cryptocurrency.          SECTION 4.  This Act takes effect September 1, 2025.