Bill Text: TX HB4517 | 2019-2020 | 86th Legislature | Comm Sub

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

Spectrum: Partisan Bill (Republican 5-0)

Status: (Introduced - Dead) 2019-04-29 - Committee report sent to Calendars [HB4517 Detail]

Download: Texas-2019-HB4517-Comm_Sub.html

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86R19165 GRM-F
By: Parker H.B. No. 4517
Substitute the following for H.B. No. 4517:
By: Capriglione C.S.H.B. No. 4517

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 14 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; and
(4) 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 or reimbursement for expenses
incurred by the member in the performance of official duties as a
member of the work group.
(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) Not later than November 1, 2020, the work group shall
submit a report that includes the master plan developed under
Subsection (f) of this section to each standing committee of the
senate and house of representatives with primary jurisdiction over
economic development or technology issues.
(h) The work group may adopt rules, procedures, and policies
as necessary to administer this section and implement the
responsibilities of the work group.
(i) This section expires and the work group is abolished
June 30, 2021.
SECTION 2. As soon as practicable, but not later than
October 1, 2019, the governor, lieutenant governor, and the 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, 2019, the work group
on blockchain matters shall hold its initial meeting.
SECTION 4. This Act takes effect September 1, 2019.