New York A 8103: Relates to establishing a cap on the price of prescription insulin

Bill Text

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A08103 Summary:

BILL NOA08103 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORVanel

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §302, add §310, St Tech L

&nbsp

Allows signatures, records and contracts secured through blockchain technology to be considered in an electronic form and to be an electronic record and signature; allows smart contracts to exist in commerce.

Go to top A08103 Actions:

BILL NOA08103 

&nbsp

04/30/2025referred to governmental operations

01/07/2026referred to governmental operations

Go to topA08103 Committee&nbspVotes:

Go to topA08103 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA08103 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8103

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 30, 2025
 ___________

 Introduced by M. of A. VANEL -- read once and referred to the Committee
 on Governmental Operations

 AN ACT to amend the state technology law, in relation to blockchain
 technology and smart contracts

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 302 of the state technology law is amended by
 2 adding two new subdivisions 6 and 7 to read as follows:
 3 6. "Blockchain technology" shall mean distributed ledger technology
 4 that uses a distributed, decentralized, shared and replicated ledger,
 5 which may be public, permissioned or permissionless, or driven by token-
 6 ized crypto economics or tokenless. The data on the ledger is protected
 7 with cryptography, is immutable and auditable and provides an uncensored
 8 truth.
 9 7. "Smart contract" shall mean an event-driven program that runs on a
 10 distributed, decentralized, shared and replicated ledger and that can
 11 take custody over and instruct transfer of assets on that ledger.
 12 § 2. The state technology law is amended by adding a new section 310
 13 to read as follows:
 14 § 310. Signatures and records secured through blockchain technology
 15 and smart contracts. 1. A signature that is secured through blockchain
 16 technology is considered to be in an electronic form and to be an elec-
 17 tronic signature.
 18 2. A record or contract that is secured through blockchain technology
 19 is considered to be in an electronic form and to be an electronic
 20 record.
 21 3. Smart contracts may exist in commerce. A contract relating to a
 22 transaction may not be denied legal effect, validity or enforceability
 23 solely because that contract contains a smart contract term.
 24 4. Notwithstanding any other law, rule or regulation to the contrary,
 25 a person that, in or affecting interstate or foreign commerce, uses

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11760-01-5

 A. 8103 2

 1 blockchain technology to secure information that the person owns or has
 2 the right to use retains the same rights of ownership or use with
 3 respect to that information as before the person secured the information
 4 using blockchain technology. This subdivision does not apply to the use
 5 of blockchain technology to secure information in connection with a
 6 transaction to the extent that the terms of the transaction expressly
 7 provide for the transfer of rights of ownership or use with respect to
 8 that information.
 9 § 3. This act shall take effect immediately.

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