Texas Comptrollers $250 Million Bitcoin Investment Bill Advances to Committee
Bitcoin Magazine
Legislation Allowing Texas Comptroller to Invest $250 Million in Bitcoin Advances to Committee
Today, House Bill 4258 has been sent to the Delivery of Government Efficiency Committee in Texas. This committee serves a similar purpose as the United States federal governments DOGE initiative.
Introduced to the Texas House of Representatives on March 11, 2025, this bill is backed by two Democratic representativesRep. Ron Reynolds and Mihaela Plesa.
If enacted, the proposed legislation would empower the comptroller of Texas to allocate as much as $250 million from the states Economic Stabilization Fundcommonly known as the Rainy Day Fundinto Bitcoin or other cryptocurrencies. This fund was established to provide a financial cushion for the state, ensuring that essential services such as education and healthcare are not subject to sudden cuts.
The bill also permits local governments or counties to invest up to $10 million of their funds into Bitcoin and/or other digital currencies.
Should the legislation be signed into law, it would take effect on September 1, 2025, giving both state and local government officials adequate time to create an investment strategy and establish a custody plan.
According to Bitcoin Laws, H.B. 4258 is one of eight active proposals related to Bitcoin or cryptocurrency currently under consideration in either the Texas Senate or the House of Representatives. Out of these, it is the fifth to reach the committee stage.
Four of these bills, including the one under discussion, aim to allow the state to incorporate Bitcoin into its financial reporting. The remaining threeH.B. 1598, Senate Bill 21, and S.B. 778advocate establishing a Strategic Bitcoin Reserve (SBR) in Texas.
These three SBR-related bills are also presently in committee, with S.B. 21 undergoing its second committee evaluation. Recently, the bill passed the Texas Senate with a favorable vote of 25-5.
Texas currently ranks as the state with the second highest number of active Bitcoin and cryptocurrency legislation, surpassed only by Arizona, which has nine bills, three of which are nearing potential enactment.
Throughout the U.S., Texas is recognized as one of the most Bitcoin-conducive states. This reputation stems not only from its progressive legislative measures but also from housing approximately one-third of the national Bitcoin mining hash rate.
This article Legislation Allowing Texas Comptroller to Invest $250 Million in Bitcoin Advances to Committee originally appeared on Bitcoin Magazine and is authored by Frank Corva.
The post Texas Comptrollers $250 Million Bitcoin Investment Bill Advances to Committee appeared first on Crypto Breaking News.
Text source: Crypto Breaking News
