Division of the Budget
Landon State Office Building Phone: (785) 296-2436
900 SW Jackson Street, Room 504 adam.c.proffitt@ks.gov
Topeka, KS 66612 http://budget.kansas.gov
Adam Proffitt, Director Laura Kelly, Governor
Division of the Budget
February 13, 2023
The Honorable Pat Proctor, Chairperson
House Committee on Elections
300 SW 10th Avenue, Room 218-N
Topeka, Kansas 66612
Dear Representative Proctor:
SUBJECT: Fiscal Note for HB 2167 by House Committee on Elections
In accordance with KSA 75-3715a, the following fiscal note concerning HB 2167 is
respectfully submitted to your committee.
HB 2167 would prohibit a candidate or candidate committee from using political funds that
are subject to the Campaign Finance Act from being used for a federal elective office. The bill
would also prohibit a person from making or accepting any cryptocurrency contribution for any
candidate or candidate committee that in the aggregate exceeds $100 for any one primary or
general election from any one person. The bill would also limit cryptocurrency contributions for
a political or party committee from any one person to $100 in aggregate for any calendar year.
The value of a cryptocurrency contribution would be the fair market value of the cryptocurrency
at the time the payment processor obtains possession of the contribution. The bill would require
cryptocurrency contributions to be immediately converted to United States currency and deposited
into the campaign account. A campaign would be prohibited from making expenditures in the
form of cryptocurrency and holding cryptocurrency as an asset.
Before accepting a cryptocurrency contribution, a candidate, candidate committee, political
committee, or party committee would have to obtain the contributor’s personal contact
information, affirmation the contributor is the owner of the cryptocurrency, and affirmation the
contributor is not a foreign national. A cryptocurrency contribution would only be accepted if it
is made and received through a United States-based cryptocurrency payment processor that utilizes
procedures that enable the payment processor to form a reasonable belief that it knows the true
identity of each contributor and collects the contributors name and address at the time the
contribution is made and transmits the information to the committee. When reporting a
cryptocurrency contribution, a treasurer would be required to report the amount and type of virtual
currency received. The Honorable Pat Proctor, Chairperson
Page 2—HB 2167
The Secretary of State indicates it would use existing resources to make changes to its
campaign finance filing system. The Governmental Ethics Commission indicates it could have
additional costs related to opinion publishing; however, the fiscal effect would be negligible. Any
fiscal effect associated with HB 2167 is not reflected in The FY 2024 Governor’s Budget Report.
Sincerely,
Adam Proffitt
Director of the Budget
cc: Sandy Tompkins, Office of the Secretary of State
Mark Skoglund, Governmental Ethics Commission