Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate Ways and Means backs bill to let treasurer invest small share of certain digital assets and precious metals
Summary
The committee advanced HB 302, which authorizes the state treasurer to invest up to a capped percentage in well‑capitalized digital assets or precious metals for certain long‑term trust accounts; the bill passed the committee on consent.
The Senate Ways and Means Committee heard public testimony and then placed House Bill 302 on consent, recommending that the state treasurer be allowed to invest a limited portion of certain long-term state trust accounts in qualifying digital assets and precious metals.
Representative Keith Hammond, the House prime sponsor, told the committee the bill is "enabling" and would give the treasurer additional tools to protect purchasing power: "This bill allows the state treasurer some more tools in the toolbox, not to second guess her judgment," Hammond said. The bill sets eligibility thresholds and custody rules: digital assets would have to meet a high market-capitalization…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
