SJR58INTRODUCED
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SJR58
CMPXWWW-1
By Senator Albritton
RFD:
First Read: 18-Apr-24
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5 CMPXWWW-1 04/17/2024 THR (L)THR 2024-1571
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First Read: 18-Apr-24
SJR___ ESTABLISHING THE ALABAMA BLOCKCHAIN STUDY COMMISSION.
WHEREAS, the State of Alabama endeavors to be at the
forefront of technological and economic innovation; and
WHEREAS, the nationwide growth of blockchain and
cryptocurrency technology presents opportunities to increase
Alabama's standing as a national leader in the technology
and financial services industries; and
WHEREAS, the law related to the regulation of
blockchain and cryptocurrency should be reviewed; now
therefore,
BE IT RESOLVED BY THE LEGISLATURE OF ALABAMA, BOTH
HOUSES THEREOF CONCURRING, That there is created the Alabama
Blockchain Study Commission to study blockchain technology
and cryptocurrency and foster appropriate expansion of
related industries in Alabama.
(a) The membership of the commission shall consist of
all of the following:
(1) One member appointed by the Governor.
(2) One member of the House of Representatives
appointed by the Speaker of the House of Representatives,
and one member of the House of Representatives appointed by
the Minority Leader of the House of Representatives.
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the Minority Leader of the House of Representatives.
(3) One member of the Senate appointed by the
President Pro Tempore of the Senate, and one member of the
Senate appointed by the Minority Leader of the Senate.
(4) The Secretary of State, or his or her designee.
(5) The Attorney General, or his or her designee.
(6) The State Treasurer, or his or her designee.
(7) The Director of the Alabama Securities
Commission, or his or her designee.
(8) The Director of the Alabama Department of
Finance, or his or her designee.
(9) The President of the Alabama Public Service
Commission, or his or her designee.
(10) The Superintendent of the State Banking
Department, or his or her designee.
(11) The President of the Alabama Bankers
Association, or his or her designee.
(12) The Executive Director of the Alabama Blockchain
Alliance, or his or her designee.
(13) The Executive Director of the Energy Institute
of Alabama, or his or her designee.
(14) The President of the Alabama State Bar, or his
or her designee.
(15) The President of the Alabama Association for
Justice, or his or her designee.
(16) The President of the Business Council of
Alabama, or his or her designee.
(17) The Alabama State Director of the National
Federation of Independent Business, or his or her designee.
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Federation of Independent Business, or his or her designee.
(18) The Administrator of the Alabama Credit Union
Association, or his or her designee.
(19) Additional members may be added by majority vote
of the commission membership.
(b) The appointing authorities shall coordinate their
appointments to ensure the commission membership is
inclusive and reflects the racial, gender, geographic,
urban, rural, and economic diversity of the state.
(c) The commission shall study blockchain and
cryptocurrency technology, with particular attention to the
following:
(1) The laws and regulations governing blockchain and
cryptocurrency in Alabama.
(2) The feasibility and validity of using blockchain
technology in government and business in Alabama, including,
but not limited to, government records, delivery of
services, court proceedings, registries, voter records, and
election results.
(3) Any necessary changes to state tax law related to
the cryptocurrency industry.
(4) How digital asset mining may impact Alabama's
energy grid.
(5) Best practices for enabling blockchain technology
and cryptocurrency transactions in Alabama, including the
potential benefits to historically underrepresented and
unbanked individuals.
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unbanked individuals.
(6) Which state agencies are best equipped to provide
oversight of blockchain technology and the cryptocurrency
industry.
(7) The jurisdictions, powers, and duties of the
various public entities in this state with regard to
blockchain technology and the cryptocurrency industry.
(8) Solicitation of input from a broad range of
stakeholders affected by state policies related to
blockchain technology and the cryptocurrency industry.
(d)(1) The first meeting of the commission shall be
held at the call of the Governor no later than August 1,
2024, at which time the commission shall elect a chair and
vice chair. The commission may then meet as necessary to
conduct business.
(2) The Legislative Services Agency, the Clerk of the
House of Representatives, and the Secretary of the Senate
shall provide administrative and other assistance for the
work of the commission as necessary.
(e)(1) The legislative members of the commission
shall be entitled to their legislative compensation, per
diem, and travel expenses for each day they attend a meeting
of the commission pursuant to Section 49 of the Constitution
of Alabama of 2022.
(2) The nonlegislative members of the commission
shall serve without compensation but may be reimbursed for
necessary expenses in attending meetings of the commission
pursuant to the polices of their respective appointing
authority.
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authority.
(f) The commission shall prepare a report of its
findings, conclusions, and recommendations for any proposed
legislation to the Legislature not later than the third
legislative day of each regular legislative session. Upon
filing of its report with the Legislature during the 2026
Regular Session, the commission shall stand dissolved and
discharged of any future duties and liabilities.
(g) Pursuant to Section 36-14-17.1, Code of Alabama
1975, the commission shall provide a notice of all meetings,
the name of each member serving on the commission, and a
copy of the final report and any other documents produced by
the commission throughout its duration to the Secretary of
State.
(h) Each appointing authority named herein shall be
provided a copy of this resolution upon its passage.
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