Bill Text: TX HB1576 | 2021-2022 | 87th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: Relating to the creation of a work group on blockchain matters concerning this state.

Spectrum: Moderate Partisan Bill (Republican 5-1)

Status: (Passed) 2021-06-07 - Effective on 9/1/21 [HB1576 Detail]

Download: Texas-2021-HB1576-Comm_Sub.html

---

87R9909 SRA-F
By: Parker, Capriglione, Bucy, Button H.B. No. 1576
Substitute the following for H.B. No. 1576:
By: Stephenson C.S.H.B. No. 1576

A BILL TO BE ENTITLED
AN ACT
relating to the creation of a work group on blockchain matters
concerning this state.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. (a) In this section:
(1) "Blockchain" includes digital assets, virtual
currency, and the integration of smart contracts.
(2) "Work group" means the work group on blockchain
matters established under this section.
(b) The work group on blockchain matters is composed of the
following 16 members:
(1) one member of the house of representatives
appointed by the speaker of the house of representatives;
(2) one member of the senate appointed by the
lieutenant governor;
(3) two members representing institutions of higher
education appointed by the governor;
(4) one ex-officio member representing the Department
of Information Resources appointed by the governor;
(5) one ex-officio member representing the secretary
of state appointed by the governor; and
(6) 10 members of the public, five of whom are
appointed by the speaker of the house of representatives and five of
whom are appointed by the lieutenant governor, who:
(A) have knowledge and experience in blockchain
technology; or
(B) represent an industry that would benefit from
the use of blockchain technology.
(c) The governor shall designate a member of the work group
appointed under Subsection (b)(3) of this section to serve as chair
of the work group. The members of the work group appointed under
Subsections (b)(1) and (2) of this section shall serve as co-vice
chairs of the work group.
(d) A member of the work group may not receive compensation
for serving on the work group but is entitled to reimbursement for
expenses incurred by the member in the performance of official
duties as a member of the work group as provided by the General
Appropriations Act.
(e) The work group shall meet at the call of the chair.
(f) The work group shall develop a master plan for the
expansion of the blockchain industry in this state and recommend
policies and state investments in connection with blockchain
technology. In developing the master plan, the work group shall:
(1) identify economic growth and development
opportunities presented by blockchain technology;
(2) assess the existing blockchain industry in this
state;
(3) review workforce needs and academic programs
required to build blockchain expertise across all relevant
industries; and
(4) make any legislative recommendations that will
help promote innovation and economic growth by reducing barriers to
and expediting the expansion of the state's blockchain industry
based on its findings under Subdivisions (1)-(3) of this
subsection.
(g) The chair of the work group may create sub-work groups
at the chair's discretion for the efficient operation of the work
group. The chair shall appoint the chair of each sub-work group.
The chair of a sub-work group may invite other members of the work
group to serve on the sub-work group. A sub-work group may consult
with subject matter experts.
(h) Not later than October 31, 2022, the work group shall
submit a report that includes the master plan developed under
Subsection (f) of this section and any findings and recommendations
from the sub-work groups appointed under Subsection (g) of this
section to each standing committee of the senate and house of
representatives with primary jurisdiction over economic
development or technology issues.
(i) The work group may adopt rules, procedures, and policies
as necessary to administer this section and implement the
responsibilities of the work group.
(j) This Act expires and the work group is abolished June
30, 2023.
SECTION 2. As soon as practicable, but not later than
October 1, 2021, the governor, lieutenant governor, and speaker of
the house of representatives shall appoint the members of the work
group on blockchain matters established by this Act.
SECTION 3. Not later than November 1, 2021, the work group
on blockchain matters shall hold its initial meeting.
SECTION 4. This Act takes effect September 1, 2021.