HB1844Introduced in the House
STRATEGIC BITCOIN RESERVE
Introduced by John Cabello, District 90
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Creates the Strategic Bitcoin Reserve Act. Creates the Strategic Bitcoin Reserve Fund as a special fund in the State treasury for the purpose of holding bitcoin as a financial asset. Provides that the State Treasurer may accept gifts, grants, and donations of bitcoin from Illinois residents and governmental entities for deposit into the Fund. Provides that the State Treasurer shall hold all bitcoin deposited into the Fund for a duration of at least 5 years from the date that the bitcoin enters the State's custody. Allows the State Treasurer, after this period, to transfer, sell, appropriate, or convert to another cryptocurrency any bitcoin in the Fund. Adds provisions concerning the management and security of the Fund; reporting requirements; and voluntary donations of bitcoin by Illinois residents. Provides that the State Treasurer may adopt rules necessary to administer the Act. Effective immediately.
Where it stands
Added Chief Co-Sponsor Rep. Travis Weaver
February 19, 2025
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Filed with the Clerk by Rep. John M. Cabello
First Reading
Referred to Rules Committee
Added Chief Co-Sponsor Rep. William E Hauter
Added Chief Co-Sponsor Rep. Travis Weaver
Verify the information
Our commitment to neutrality
We provide factual information only. We never tell you which politicians or bills to support, and we do not rank, score, or endorse anyone.