Illinois HB 1844: STRATEGIC BITCOIN RESERVE

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB1844

Introduced 1/29/2025, by Rep. John M. Cabello 

SYNOPSIS AS INTRODUCED:

New Act

30 ILCS 105/5.1030 new

 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.

LRB104 08102 SPS 18148 b

A BILL FOR

HB1844LRB104 08102 SPS 18148 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 1. Short title. This Act may be cited as the 

5Strategic Bitcoin Reserve Act.

6 Section 5. Findings and purpose. The General Assembly 

7finds as declares:

8 (1) bitcoin is a valuable digital asset with strategic 

9 potential for enhancing the State's fiscal resilience;

10 (2) bitcoin's decentralized nature and finite supply 

11 provide unique qualities that can serve as a hedge against 

12 inflation and economic volatility; and

13 (3) a strate