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.

Texas H 4258

Authority of the Comptroller of Public Accounts

2025 TE H 4258

Texas H 4258

Authority of the Comptroller of Public Accounts

2025 TE H 4258