Bills › 88th General Assembly
Prohibiting the state and political subdivisions of the state from accepting payment in the form of virtual currency
Where it is now
- Done: IntroducedJanuary 23, 2020
- Done: SubcommitteeJanuary 30, 2020
- Stopped: Senate committeeDied when the General Assembly ended
- Next: Passes the Senate
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill prohibits the state and its political subdivisions from accepting payments in the form of virtual currency. The bill provides the state and a political subdivision of the state shall only accept payment in the form of cash. The bill defines “cash” as United States currency, but excludes virtual currency from the definition, regardless of whether such virtual currency has an equivalent value in legal tender. The bill defines “political subdivision” as a city, county, township, or school district.
Read the full explanation
The bill defines “virtual currency” as a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but is not legal tender in the United States.22, subsection 2, paragraph “a”, to indicate the office of the chief information officer, in establishing standards for the implementation of electronic commerce, is not to establish such standards for electronic currency. Instead, the office is to establish such standards for electronic payments.
Senate subcommittee
Named January 30, 2020. On February 12, 2020 it recommended amendment and passage.
- Sen. Chris Cournoyer R
- Sen. Tony Bisignano DEmail
- Sen. R. Smith
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part