TALLAHASSEE, Fla. – A serious invoice filed within the Florida Home seeks to authorize the chief monetary officer and the State Board of Administration, or SBA, to speculate parts of state and public retirement funds in digital belongings, reminiscent of Bitcoin, and exchange-traded merchandise.
What it does: HB 183 would amend a number of statutes to combine digital belongings and exchange-traded merchandise into Florida’s public fund funding methods as a retailer of worth and potential hedge towards inflation, whereas additionally establishing strict limitations and custody necessities for these investments.
Key provisions and monetary adjustments of HB 183 embrace:
- Funding limits: The quantity of public funds the CFO or the SBA might put money into digital belongings or exchange-traded merchandise is capped at 10% of the entire funds in any single account.
- Digital asset custody: Acquired digital belongings have to be held in a way that gives the state with management, that means they have to be held both straight by the CFO or on behalf of the state by a certified custodian.
- Asset loans: The CFO is allowed to mortgage digital belongings in state funds to generate further returns, supplied the loans are secured by collateral equal to at the very least 100% of the worth of the belongings loaned and adjust to fiduciary requirements.
- “Pecuniary issue” mandate: Funding selections made by the CFO have to be primarily based solely on “pecuniary elements,” explicitly forbidding the consideration of “any social, political, or ideological pursuits” that subordinate funding returns.
- Taxes and charges: Any taxes or charges paid to the state in digital belongings have to be transferred to the Basic Income Fund, and the designated fund receiving the fee have to be reimbursed the worth of the fee in United States forex.
- CFO and SBA authority: The invoice amends state retirement and basic funding legal guidelines to grant each the CFO (for state funds) and the SBA Board of Trustees (for the System Belief Fund and different funds) the authority to particularly embrace digital belongings of their funding portfolios.
The sponsor: The invoice is being carried by Rep. Webster Barnaby. A Senate model has not been filed.
If authorized, the laws would take impact July 1, 2026.
The 2026 legislative session begins Jan. 13.
