SB284INTRODUCED
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SB284
JPAECNY-1
By Senator Barfoot
RFD: Banking and Insurance
First Read: 01-Apr-25
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5 JPAECNY-1 04/01/2025 CD (F)CD 2025-1457
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First Read: 01-Apr-25
SYNOPSIS:
This bill would require the publication of
certain state expenditures to a public blockchain and
would provide for the creation of a strategic plan to
implement this requirement.
A BILL
TO BE ENTITLED
AN ACT
Relating to the publication of certain state
expenditures to a public blockchain; and to provide for the
creation of a strategic plan to implement this requirement.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1. The following terms have the following
meanings:
(1) BLOCKCHAIN. Data that is shared across a network to
create a ledger of verified transactions or information among
network participants linked using cryptography to maintain the
integrity of the ledger and to execute other functions and
distributed among network participants in an automated fashion
to concurrently update network participants on the state of
the ledger and any other functions.
(2) PUBLIC EXPENDITURES. Any transfer of monies from
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(2) PUBLIC EXPENDITURES. Any transfer of monies from
the State of Alabama to a private person for the payment of
goods or services that is a public record pursuant to Section
36-12-40, Code of Alabama 1975.
Section 2. (a) Beginning October 1, 2030, the
Comptroller shall publish all public expenditures exceeding
one thousand dollars ($1,000) to a public blockchain, as
provided by rule of the Department of Finance. The Comptroller
may contract with any public or private entity to implement
this act.
(b) No later than September 30, 2027, the Department of
Finance, in consultation with the Office of Information
Technology, shall develop and submit to the Governor a
strategic plan to implement subsection (a).
(c) The strategic plan shall include, but not be
limited to, recommendations to the Legislature on legislation
or funding required to implement this act.
(d) The Governor shall approve the strategic plan by
December 31, 2027. No later than January 10, 2028, the
Department of Finance shall publish a copy of the approved
strategic plan on its website and provide a copy of the plan
to all members of the Legislature.
(e) Nothing in this act shall be construed to require
that the Department of Finance solely use blockchain
technology for the purposes of tracking state expenditures.
Section 3. This act shall become effective on October
1, 2025.
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