Date	Chamber	Action
1/29/2025	House	Referred to Rules Committee

Statutes Amended In Order of Appearance

New Act

30 ILCS 105/5.1030 new

Synopsis As Introduced
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.

Actions 

Date	Chamber	Action
1/28/2025	House	Filed with the Clerk by Rep. John M. Cabello
1/29/2025	House	First Reading
1/29/2025	House	Referred to Rules Committee

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