HLS 22RS-3282 ENGROSSED
2022 Regular Session
HOUSE CONCURRENT RESOL UTION NO. 104
BY REPRESENTATIVE WRIGHT
REVENUE DEPARTMENT: Urges and requests the Dept. of Revenue to study and report
on the feasibility of accepting virtual currency as a form of payment of taxes,
licenses, fees, penalties, and interest due to the state
1 A CONCURRENT RESOL UTION
2To urge and request the Department of Revenue to study the feasibility of accepting virtual
3 currency as a form of payment of taxes, licenses, fees, penalties, and interest that
4 have been delegated to the department for collection and to submit a written report
5 of its findings, including any recommendations for legislation, to the House
6 Committee on Ways and Means and the Senate Committee on Revenue and Fiscal
7 Affairs no later than March 1, 2024.
8 WHEREAS, the Department of Revenue is the state agency charged with the
9assessment, collection, administration, and enforcement of taxes, licenses, fees, penalties,
10and interest due the state; and
11 WHEREAS, R.S. 6:1382, defines "virtual currency" as a digital representation of
12value that is used as a medium of exchange, unit of account, or store of value, and that is not
13legal tender, whether or not denominated in legal tender; and
14 WHEREAS, blockchain technology, which is a system that allows the recording and
15distribution of information without the ability to edit records, is used to maintain a secure
16decentralized record of transactions; and
17 WHEREAS, blockchain technology is used in virtual currency systems to maintain
18the security of the record and generate trust without the need for a third party to the
19transaction; and
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HCR NO. 104
1 WHEREAS, virtual currency is becoming more commonly used as a form of
2payment for goods and services by citizens of this state in e-commerce and retail
3transactions as well as a form of currency in interstate commerce; and
4 WHEREAS, a number of other states have already passed or are currently
5considering legislation concerning virtual currency technology; and
6 WHEREAS, Louisiana has a tradition of excellence in promoting, assisting, and
7leading the development of traditional and emerging technologies, including financial
8technology; and
9 WHEREAS, it is in the interest of Louisiana to continue this excellence in
10promoting, assisting, and leading the development of technology for use in both private and
11public capacities, including financial technology such as virtual currency and blockchain
12technology.
13 THEREFORE, BE IT RESOLVED that the Louisiana Legislature does hereby urge
14and request the Department of Revenue to study the feasibility of accepting virtual currency
15as a form of payment of taxes, licenses, fees, penalties, and interest that have been delegated
16to the department for collection and to submit a written report of its findings, including any
17recommendations for legislation, to the House Committee on Ways and Means and the
18Senate Committee on Revenue and Fiscal Affairs no later than March 1, 2024.
19 BE IT FURTHER RESOLVED that in conducting its study, the Department of
20Revenue shall include all of the following:
21 (1) Identify transactions for which payment in the form of virtual currency should
22 be accepted.
23 (2) Determine whether current state statutes and rules or regulations allow for the
24 acceptance of virtual currency as a form of payment.
25 (3) Identify any additional costs that will be incurred by the state in connection with
26 the acceptance of virtual currency as a form of payment.
27 (4) Identify fees, if any, that the state should charge taxpayers to reimburse the state
28 for costs associated with the acceptance of virtual currency as a form of payment.
29 (5) Identify technologies available to the state to facilitate the acceptance of virtual
30 currency as a form of payment.
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HCR NO. 104
1 (6) Identify risks the state may be taking in accepting virtual currency as a form of
2 payment, including, but not limited to risks associated with the fluctuating value of
3 virtual currency.
4 (7) Estimate the rate of usage of virtual currency as a form of payment versus the
5 cost and other resources required to process payments to the state.
6 (8) Survey best practices from other states that accept virtual currency as a form of
7 payment.
8 (9) Identify any other issues deemed necessary in studying acceptance of virtual
9 currency by the Department of Revenue.
10 BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
11secretary of the Department of Revenue.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HCR 104 Engrossed 2022 Regular Session Wright
Requests the Dept. of Revenue to study the feasibility of accepting virtual currency as a form
of payment of taxes, licenses, fees, penalties, and interest that have been delegated to the
department for collection and to submit a written report of its findings, including any
recommendations for legislation, to the House Committee on Ways and Means and the
Senate Committee on Revenue and Fiscal Affairs no later than March 1, 2024.
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