Kentucky House Bill 376 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Republican 1)
Status: Introduced on February 6 2025 - 25% progression, died in committee
Action: 2025-02-12 - to Banking & Insurance (H)
Pending: House Banking and Insurance Committee
Text: Latest bill text (Introduced) [PDF]

Amend KRS 42.500 to authorize the State Investment Commission to make investments in certain digital assets and bullion; define terms; establish requirements for investments; prohibit investments in central bank digital currency; make technical corrections; amend KRS 42.525 to specify administrative regulation authority of commission regarding investment powers and requirements; create a new section of KRS Chapter 42 to authorize state retirement funds and state deferred compensation fund participants to invest in exchange traded products; amend KRS 45.345 to authorize state agencies to accept digital assets and bullion as a method of payment; prohibit acceptance of central bank digital currency as a method of payment; create a new section of KRS Chapter 131 to establish authorized payment methods for any tax bill issued by the Department of Revenue; require the Department of Revenue to accept digital assets and bullion as a method of payment; amend KRS 41.070 to require the State Treasurer to transfer certain digital asset deposits to the budget reserve trust fund; require the State Treasurer to convert receipts of other digital assets to United States currency; prohibit the State Treasurer from accepting central bank digital currency or converting receipts to central bank digital currency; amend KRS 48.705, 16.642, 18A.255, 21.550, 61.650, 78.790, and 161.430 to conform; provide that the Act may be cited as the Inflation Protection Act of 2025.

AN ACT relating to state financial practices.

Rep. T.J. Roberts [R]

Date	Chamber	Action
2025-02-12	House	to Banking & Insurance (H)
2025-02-06	House	to Committee on Committees (H)
2025-02-06	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/25RS/hb376.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/25RS/hb376/orig_bill.pdf