Florida SB 1040: Veterinary Practices

Bill Text

1040 
Trust Funds/Florida Cryptocurrency Reserve 
2026-01-29T09:23:58Z 
Creating the Florida Cryptocurrency Reserve, a trust fund, within the office of the Chief Financial Officer; providing for the source of funds and the purpose of the reserve; providing for future review and termination or re-creation of the reserve, etc. 
Committee Substitute 1 
2026 
S 
GB 
General Bill 
c1 

 Florida Senate - 2026 CS for SB 1040 

 By the Committee on Banking and Insurance; and Senator Gruters 

 597-02292-26 20261040c1 
 1 A bill to be entitled 
 2 An act relating to trust funds; creating s. 215.994, 
 3 F.S.; creating the Florida Cryptocurrency Reserve, a 
 4 trust fund, within the office of the Chief Financial 
 5 Officer; providing for the source of funds and the 
 6 purpose of the reserve; providing for future review 
 7 and termination or re-creation of the reserve; 
 8 providing a contingent effective date. 
 9 
 10 Be It Enacted by the Legislature of the State of Florida: 
 11 
 12 Section 1. Section 215.994, Florida Statutes, is created to 
 13 read: 
 14 215.994 Florida Strategic Cryptocurrency Reserve.— 
 15 (1) The Florida Cryptocurrency Reserve is a trust fund 
 16 created within the office of the Chief Financial Officer. 
 17 (2) The reserve shall consist of all of the following: 
 18 (a) Money transferred or deposited to the credit of the 
 19 reserve by legislative appropriation. The Legislature may 
 20 appropriate funds for deposit to the credit of the reserve for 
 21 the purposes of: 
 22 1. Investing in cryptocurrency; and 
 23 2. Administering and managing all aspects of the reserve. 
 24 Administering the reserve includes, but is not limited to, being 
 25 responsible for and supervising the custody, consultants, 
 26 external managers, and software related to the implementation of 
 27 the reserve. 
 28 (b) Revenue that the Legislature by general law dedicates 
 29 for deposit to the credit of the reserve. 
 30 (c) Cryptocurrency purchased using money in or received by 
 31 the reserve, including any cryptocurrency: 
 32 1. Derived from the fork of a distributed ledger; or 
 33 2. Distributed pursuant to an airdrop to the state’s 
 34 cryptocurrency addresses. 
 35 (d) Investment earnings, interest, or rewards accruing on 
 36 reserve moneys that are not invested in cryptocurrency, which 
 37 earnings, interest, or rewards may be invested as provided in s. 
 38 17.57. 
 39 (3) The purpose of the reserve is to acquire, hold, manage, 
 40 and dispose of cryptocurrency and any assets authorized in this 
 41 section or s. 215.993 for the benefit of the state; to 
 42 strengthen the state’s financial security and resilience; to 
 43 diversify the state’s investment portfolio, including providing 
 44 a potential hedge against inflation and economic volatility; and 
 45 to position the state to participate in and adapt to the 
 46 emerging digital economy. 
 47 (4) In accordance with s. 19(f)(2), Art. III of the State 
 48 Constitution, the reserve is terminated July 1, 2030, unless 
 49 terminated sooner. Before its scheduled termination, the reserve 
 50 shall be reviewed as provided in s. 215.3206(1) and (2). 
 51 Section 2. This act shall take effect on the same date that 
 52 SB 1038 or similar legislation takes effect, if such legislation 
 53 is adopted in the same legislative session or an extension 
 54 thereof and becomes a law.