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House tax committee defeats, then tables bill allowing cryptocurrency payments after amendment
Summary
Lawmakers in the House Taxation Committee amended HB 453 to shift collection responsibility for crypto payments to the payer and require third‑party conversion to dollars; the amendment passed but the bill failed on final passage and was then tabled.
The House Taxation Committee took executive action on House Bill 453, a measure to allow cryptocurrency payments to the state, amending the bill to address Department of Revenue concerns before ultimately defeating the measure and tabling it for later consideration.
Representative Craig moved an amendment that removed language treating crypto as state capital gains taxation and clarified that the person paying in cryptocurrency — not the Department of Revenue — would bear responsibility for conversion and any vendor fees. Craig described the mechanics as involving third‑party conversion services, saying, "So very much like a, a credit card, for example" and listing providers such as PayZelle, PayPal and Coinbase that would convert crypto into dollars for state acceptance.
Representative Durham argued against the bill, stating his concern about the state's role: "I currently see cryptocurrency as a foreign currency. And so for me to say yes on this bill would be to mandate the state of Montana to accept a foreign currency," he said.
Vice chair Thain noted a fiscal note that estimated roughly a $75,000 impact to the state and asked whether shifting costs to the taxpayer would reduce that estimate. Craig responded that "a significant portion of that will be wiped down," and committee staff expected a revised fiscal estimate.
The committee voted first on the amendment; the clerk announced 21 ayes, 0 no, and the amendment passed. On the motion to pass HB 453 as amended, the roll call returned 8 ayes and 13 noes and the bill was defeated in committee. Representative Thain then moved to table the measure; the motion to table passed 20–1 and HB 453 was tabled by the committee.
Next steps: HB 453 remains tabled in the House Taxation Committee pending any future action.
