AL
Alabama Senate Bill SJR58

Alabama 2024 Regular Session

Alabama Senate Bill SJR58 Compare Versions

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33 SJR58
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55 By Senator Albritton
6-RFD: RULES
6+RFD:
77 First Read: 18-Apr-24
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12-5 SJR58 Enrolled
12+5 CMPXWWW-1 04/17/2024 THR (L)THR 2024-1571
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1414 First Read: 18-Apr-24
15-Enrolled, An Act,
1615 SJR___ ESTABLISHING THE ALABAMA BLOCKCHAIN STUDY COMMISSION.
1716 WHEREAS, the State of Alabama endeavors to be at the
1817 forefront of technological and economic innovation; and
1918 WHEREAS, the nationwide growth of blockchain and
2019 cryptocurrency technology presents opportunities to increase
2120 Alabama's standing as a national leader in the technology
2221 and financial services industries; and
2322 WHEREAS, the law related to the regulation of
2423 blockchain and cryptocurrency should be reviewed; now
2524 therefore,
2625 BE IT RESOLVED BY THE LEGISLATURE OF ALABAMA, BOTH
2726 HOUSES THEREOF CONCURRING, That there is created the Alabama
2827 Blockchain Study Commission to study blockchain technology
2928 and cryptocurrency and foster appropriate expansion of
3029 related industries in Alabama.
3130 (a) The membership of the commission shall consist of
3231 all of the following:
3332 (1) One member appointed by the Governor.
3433 (2) One member of the House of Representatives
3534 appointed by the Speaker of the House of Representatives,
3635 and one member of the House of Representatives appointed by
3736 the Minority Leader of the House of Representatives.
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6564 the Minority Leader of the House of Representatives.
6665 (3) One member of the Senate appointed by the
6766 President Pro Tempore of the Senate, and one member of the
6867 Senate appointed by the Minority Leader of the Senate.
6968 (4) The Secretary of State, or his or her designee.
7069 (5) The Attorney General, or his or her designee.
7170 (6) The State Treasurer, or his or her designee.
7271 (7) The Director of the Alabama Securities
7372 Commission, or his or her designee.
7473 (8) The Director of the Alabama Department of
7574 Finance, or his or her designee.
7675 (9) The President of the Alabama Public Service
7776 Commission, or his or her designee.
7877 (10) The Superintendent of the State Banking
7978 Department, or his or her designee.
8079 (11) The President of the Alabama Bankers
8180 Association, or his or her designee.
8281 (12) The Executive Director of the Alabama Blockchain
8382 Alliance, or his or her designee.
8483 (13) The Executive Director of the Energy Institute
8584 of Alabama, or his or her designee.
8685 (14) The President of the Alabama State Bar, or his
8786 or her designee.
8887 (15) The President of the Alabama Association for
8988 Justice, or his or her designee.
9089 (16) The President of the Business Council of
9190 Alabama, or his or her designee.
9291 (17) The Alabama State Director of the National
9392 Federation of Independent Business, or his or her designee.
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123122 Federation of Independent Business, or his or her designee.
124123 (18) The Administrator of the Alabama Credit Union
125124 Association, or his or her designee.
126125 (19) Additional members may be added by majority vote
127126 of the commission membership.
128127 (b) The appointing authorities shall coordinate their
129128 appointments to ensure the commission membership is
130129 inclusive and reflects the racial, gender, geographic,
131130 urban, rural, and economic diversity of the state.
132131 (c) The commission shall study blockchain and
133132 cryptocurrency technology, with particular attention to the
134133 following:
135134 (1) The laws and regulations governing blockchain and
136135 cryptocurrency in Alabama.
137136 (2) The feasibility and validity of using blockchain
138137 technology in government and business in Alabama, including,
139138 but not limited to, government records, delivery of
140139 services, court proceedings, registries, voter records, and
141140 election results.
142141 (3) Any necessary changes to state tax law related to
143142 the cryptocurrency industry.
144143 (4) How digital asset mining may impact Alabama's
145144 energy grid.
146145 (5) Best practices for enabling blockchain technology
147146 and cryptocurrency transactions in Alabama, including the
148147 potential benefits to historically underrepresented and
149148 unbanked individuals.
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177176 unbanked individuals.
178177 (6) Which state agencies are best equipped to provide
179178 oversight of blockchain technology and the cryptocurrency
180179 industry.
181180 (7) The jurisdictions, powers, and duties of the
182181 various public entities in this state with regard to
183182 blockchain technology and the cryptocurrency industry.
184183 (8) Solicitation of input from a broad range of
185184 stakeholders affected by state policies related to
186185 blockchain technology and the cryptocurrency industry.
187186 (d)(1) The first meeting of the commission shall be
188187 held at the call of the Governor no later than August 1,
189188 2024, at which time the commission shall elect a chair and
190189 vice chair. The commission may then meet as necessary to
191190 conduct business.
192191 (2) The Legislative Services Agency, the Clerk of the
193192 House of Representatives, and the Secretary of the Senate
194193 shall provide administrative and other assistance for the
195194 work of the commission as necessary.
196195 (e)(1) The legislative members of the commission
197196 shall be entitled to their legislative compensation, per
198197 diem, and travel expenses for each day they attend a meeting
199198 of the commission pursuant to Section 49 of the Constitution
200199 of Alabama of 2022.
201200 (2) The nonlegislative members of the commission
202201 shall serve without compensation but may be reimbursed for
203202 necessary expenses in attending meetings of the commission
204203 pursuant to the polices of their respective appointing
205204 authority.
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235234 authority.
236235 (f) The commission shall prepare a report of its
237236 findings, conclusions, and recommendations for any proposed
238237 legislation to the Legislature not later than the third
239238 legislative day of each regular legislative session. Upon
240239 filing of its report with the Legislature during the 2026
241240 Regular Session, the commission shall stand dissolved and
242241 discharged of any future duties and liabilities.
243242 (g) Pursuant to Section 36-14-17.1, Code of Alabama
244243 1975, the commission shall provide a notice of all meetings,
245244 the name of each member serving on the commission, and a
246245 copy of the final report and any other documents produced by
247246 the commission throughout its duration to the Secretary of
248247 State.
249248 (h) Each appointing authority named herein shall be
250249 provided a copy of this resolution upon its passage.
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267-provided a copy of this resolution upon its passage.
268-________________________________________________
269-President and Presiding Officer of the Senate
270-________________________________________________
271-Speaker of the House of Representatives
272-SJR58
273-Senate 18-Apr-24
274-I hereby certify that the within Act originated in and
275-passed the Senate.
276-Patrick Harris,
277-Secretary.
278-House of Representatives
279-Passed: 25-Apr-24
280-By: Senator Albritton
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