Illinois House Bill 1844

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Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on January 28 2025 - 25% progression
Action: 2025-02-19 - Added Chief Co-Sponsor Rep. Travis Weaver
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

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.

STRATEGIC BITCOIN RESERVE

Rep. John Cabello [R]

Rep. William Hauter [R]

Rep. Travis Weaver [R]

Date	Chamber	Action
2025-02-19	House	Added Chief Co-Sponsor Rep. Travis Weaver
2025-02-19	House	Added Chief Co-Sponsor Rep. William E Hauter
2025-01-29	House	Referred to Rules Committee
2025-01-29	House	First Reading
2025-01-28	House	Filed with the Clerk by Rep. John M. Cabello

Chapter	Article	Section	Citation Type	Statute Text
30	105	5.1030	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1844&GAID=18&DocTypeID=HB&SessionID=114&GA=104
Text	https://www.ilga.gov/legislation/104/HB/10400HB1844.htm