Bill Text: IA HF2358 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to the use of central bank digital currency by state entities.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2024-02-07 - Introduced, referred to Commerce. H.J. 212. [HF2358 Detail]
Download: Iowa-2023-HF2358-Introduced.html
House
File
2358
-
Introduced
HOUSE
FILE
2358
BY
THOMSON
A
BILL
FOR
An
Act
relating
to
the
use
of
central
bank
digital
currency
by
1
state
entities.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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2358
Section
1.
NEW
SECTION
.
535.19
Central
bank
digital
1
currency
——
state
entity
use
prohibited.
2
1.
For
purposes
of
this
section:
3
a.
“Central
bank
digital
currency”
means
a
digital
medium
4
of
exchange,
token,
or
monetary
unit
of
account
issued
by
the
5
United
States
federal
reserve
system
or
any
analogous
federal
6
agency
that
is
made
directly
available
to
a
consumer
by
such
7
entities.
“Central
bank
digital
currency”
includes
a
digital
8
currency,
a
digital
medium
of
exchange,
or
a
digital
monetary
9
unit
of
account
issued
that
is
processed
or
validated
directly
10
by
such
entities.
11
b.
“State
entity”
means
the
state,
including
but
not
limited
12
to
a
state
agency,
department,
division,
board,
commission,
13
institution,
or
authority;
a
city;
a
county;
a
township;
a
14
school
district;
or
any
other
political
subdivision
or
special
15
district
in
this
state
established
pursuant
to
state
or
local
16
law.
17
2.
Notwithstanding
any
other
provision
of
law
to
the
18
contrary,
a
state
entity
shall
not
accept
or
require
any
19
payment,
including
of
taxes
or
fees,
in
the
form
of
a
central
20
bank
digital
currency.
21
3.
A
state
entity
shall
undertake
all
good-faith
efforts
to
22
oppose
testing,
adoption,
and
implementation
of
a
central
bank
23
digital
currency.
24
EXPLANATION
25
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
26
the
explanation’s
substance
by
the
members
of
the
general
assembly.
27
This
bill
prohibits
state
entities
from
accepting
or
28
requiring
payment,
including
of
taxes
or
fees,
in
the
form
of
a
29
central
bank
digital
currency.
The
bill
also
requires
state
30
entities
to
oppose
testing,
adoption,
and
implementation
of
31
a
central
bank
digital
currency.
The
bill
defines
the
terms
32
“central
bank
digital
currency”
and
“state
entity”.
33
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