Bill Text: TX HB4517 | 2019-2020 | 86th Legislature | Comm Sub


Bill Title: Relating to the creation of a work group on blockchain matters concerning this state.

Spectrum: Partisan Bill (Republican 5-0)

Status: (Introduced - Dead) 2019-04-29 - Committee report sent to Calendars [HB4517 Detail]

Download: Texas-2019-HB4517-Comm_Sub.html
  86R19165 GRM-F
 
  By: Parker H.B. No. 4517
 
  Substitute the following for H.B. No. 4517:
 
  By:  Capriglione C.S.H.B. No. 4517
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the creation of a work group on blockchain matters
  concerning this state.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  (a) In this section:
               (1)  "Blockchain" includes digital assets, virtual
  currency, and the integration of smart contracts.
               (2)  "Work group" means the work group on blockchain
  matters established under this section.
         (b)  The work group on blockchain matters is composed of the
  following 14 members:
               (1)  one member of the house of representatives
  appointed by the speaker of the house of representatives;
               (2)  one member of the senate appointed by the
  lieutenant governor;
               (3)  two members representing institutions of higher
  education appointed by the governor; and
               (4)  10 members of the public, five of whom are
  appointed by the speaker of the house of representatives and five of
  whom are appointed by the lieutenant governor, who:
                     (A)  have knowledge and experience in blockchain
  technology; or
                     (B)  represent an industry that would benefit from
  the use of blockchain technology.
         (c)  The governor shall designate a member of the work group
  appointed under Subsection (b)(3) of this section to serve as chair
  of the work group. The members of the work group appointed under
  Subsections (b)(1) and (2) of this section shall serve as co-vice
  chairs of the work group.
         (d)  A member of the work group may not receive compensation
  for serving on the work group or reimbursement for expenses
  incurred by the member in the performance of official duties as a
  member of the work group.
         (e)  The work group shall meet at the call of the chair.
         (f)  The work group shall develop a master plan for the
  expansion of the blockchain industry in this state and recommend
  policies and state investments in connection with blockchain
  technology. In developing the master plan, the work group shall:
               (1)  identify economic growth and development
  opportunities presented by blockchain technology;
               (2)  assess the existing blockchain industry in this
  state;
               (3)  review workforce needs and academic programs
  required to build blockchain expertise across all relevant
  industries; and
               (4)  make any legislative recommendations that will
  help promote innovation and economic growth by reducing barriers to
  and expediting the expansion of the state's blockchain industry
  based on its findings under Subdivisions (1)-(3) of this
  subsection.
         (g)  Not later than November 1, 2020, the work group shall
  submit a report that includes the master plan developed under
  Subsection (f) of this section to each standing committee of the
  senate and house of representatives with primary jurisdiction over
  economic development or technology issues.
         (h)  The work group may adopt rules, procedures, and policies
  as necessary to administer this section and implement the
  responsibilities of the work group.
         (i)  This section expires and the work group is abolished
  June 30, 2021.
         SECTION 2.  As soon as practicable, but not later than
  October 1, 2019, the governor, lieutenant governor, and the speaker
  of the house of representatives shall appoint the members of the
  work group on blockchain matters established by this Act.
         SECTION 3.  Not later than November 1, 2019, the work group
  on blockchain matters shall hold its initial meeting.
         SECTION 4.  This Act takes effect September 1, 2019.
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