Allows strategic investment in stable digital financial assets by state treasurer and public pension funds.

The bill allows the state treasurer and public pension funds to invest in stable digital financial assets like Bitcoin, stablecoins, and non-fungible tokens. Bitcoin investments are capped at 10% of total public funds. Digital assets must be held securely, either directly by the state treasurer or by a qualified custodian. The bill also imposes a 5% excise tax on digital gross revenues in digital currency. Revenue from the tax will be deposited in the General Fund and subject to appropriation.

Allows strategic investment in stable digital financial assets by state treasurer and public pension funds.

The bill allows the state treasurer and public pension funds to invest in stable digital financial assets like Bitcoin, stablecoins, and non-fungible tokens. Bitcoin investments are capped at 10% of total public funds. Digital assets must be held securely, either directly by the state treasurer or by a qualified custodian. The bill also imposes a 5% excise tax on digital gross revenues in digital currency. Revenue from the tax will be deposited in the General Fund and subject to appropriation.