HB376
Log in to followAN ACT relating to state financial practices.
Amend KRS 42.500 to authorize the State Investment Commission to make investments in certain digital assets and bullion; define terms; establish requirements for investments; prohibit investments in central bank digital currency; make technical corrections; amend KRS 42.525 to specify administrative regulation authority of commission regarding investment powers and requirements; create a new section of KRS Chapter 42 to authorize state retirement funds and state deferred compensation fund participants to invest in exchange traded products; amend…
Introduced: February 6, 2025
Last action: February 12, 2025
Plain-language summary
This bill would allow Kentucky's state investment funds to put money into digital assets (like cryptocurrency) and physical precious metals such as gold or silver, while also letting state agencies and the Department of Revenue accept those assets as payment. It would also give participants in certain state retirement and deferred compensation plans the option to invest in exchange-traded products tied to digital assets. The bill specifically bans any transactions involving central bank digital currencies.…
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