Florida HB 183: Investments and Deposits of Public Funds

Bill Text

HB 183 2026

CODING: Words stricken are deletions; words underlined are additions.
hb183-00
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A bill to be entitled 1
An act relating to investments and deposits of public 2
funds; amending s. 17.57, F.S.; providing definitions; 3
providing the Chief Financial Officer and certain 4
parties the option to invest certain moneys through 5
qualified custodians and to deposit any remaining 6
money and funds in certain qualified public 7
depositories; providing the Chief Financial Officer 8
the option to invest certain funds and to deposit any 9
remaining funds in certain qualified public 10
depositories; providing an option for certain money to 11
be invested in digital assets and exchange-traded 12
products under specified circumstances; authorizing 13
the Chief Financial Officer, in managing state funds, 14
to include digital assets and exchange-traded products 15
as stores of value and potential hedges against 16
inflation and to engage in certain acts relating to 17
investments; authorizing the Chief Financial Officer 18
to invest money in digital assets and exchange-traded 19
products from certain public funds; providing limits 20
to such investments; providing requirements for 21
holding acquired digital assets; authorizing the Chief 22
Financial Officer and other parties to loan digital 23
assets in state funds if such loans are collateralized 24
and comply with certain fiduciary standards; providing 25

HB 183 2026

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hb183-00
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rulemaking authority; requiring the Chief Financial 26
Officer to maintain certain documentation and to cure 27
any lapse in control over the digital assets in state 28
funds within a specified timeframe; requiring taxes 29
and fees paid in digital assets to be transferred to 30
the General Revenue Fund; requiring designated funds 31
to be reimbursed from the General Revenue Fund in 32
United States currency for such payments; providing 33
construction; amending s. 17.61, F.S.; authorizing the 34
Chief Financial Officer to open and maintain certain 35
accounts in credit unions; authorizing loans of 36
digital assets to securities dealers and loans of 37
securities, digital assets, and investments to 38
financial institutions; amending s. 121.151, F.S.; 39
authorizing the Board of Trustees of the State Board 40
of Administration to invest and reinvest available 41
funds of the System Trust Fund in digital assets; 42
providing limits and custody requirements for such 43
investments; providing definitions; amending s. 44
215.47, F.S.; authorizing the Board of Trustees of the 45
State Board of Administration to invest a portion of 46
any fund in digital assets; providing limits and 47
custody requirements; providing definitions; amending 48
s. 280.03, F.S.; exempting certain deposits and 49
investments from specified security requirements; 50

HB 183 2026

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amending ss. 112.661, 215.4701, 215.473, 215.4735, 51
215.475, 215.4755, 215.50, 215.555, 218.409, 1002.36, 52
and 1002.395, F.S.; conforming cross-references; 53
providing an effective date. 54
55
WHEREAS, inflation has eroded the purchasing power of 56
assets held in state funds managed by the Chief Financial 57
Officer, diminished the value of the state's reserves, and 58
affected the financial stability and economic security of this 59
state, its taxpayers, and its residents, and 60
WHEREAS, although this state does not have direct control 61
over the national money supply or the policies that influence 62
inflation, it has a responsibility to safeguard Florida's 63
financial resources against the impacts of inflation and other 64
economic uncertainties, and 65
WHEREAS, Bitcoin and other digital assets have 66
significantly increased in value and are becoming more widely 67
accepted as international stores of value and mediums of 68
exchange, and countries around the world, including the United 69
States, hold such assets within their treasury or reserve 70
frameworks, and 71
WHEREAS, Bitcoin and other digital assets are recognized by 72
sovereign nations and prominent investment advisers, including 73
BlackRock, Fidelity, and Franklin Templeton, as potential tools 74
to strengthen long-term portfolio value, and 75

HB 183 2026

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WHEREAS, on March 6, 2025, the President of the United 76
States issued Executive Order No. 14233 establishing the 77
Strategic Bitcoin Reserve and the United States Digital Asset 78
Stockpile, to be administered by the United States Department of 79
the Treasury and capitalized with lawfully forfeited d