| 1 | 1 | | By: Paxton S.B. No. 1076 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to the creation of a work group on blockchain matters |
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| 7 | 7 | | concerning this state. |
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| 8 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 9 | | SECTION 1. (a) In this section: |
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| 10 | 10 | | (1) "Blockchain" includes digital assets, virtual |
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| 11 | 11 | | currency, and the integration of smart contracts. |
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| 12 | 12 | | (2) "Work group" means the work group on blockchain |
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| 13 | 13 | | matters established under this section. |
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| 14 | 14 | | (b) The work group on blockchain matters is composed of the |
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| 15 | 15 | | following 16 members: |
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| 16 | 16 | | (1) one member of the house of representatives |
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| 17 | 17 | | appointed by the speaker of the house of representatives; |
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| 18 | 18 | | (2) one member of the senate appointed by the |
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| 19 | 19 | | lieutenant governor; |
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| 20 | 20 | | (3) two members representing institutions of higher |
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| 21 | 21 | | education appointed by the governor; |
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| 22 | 22 | | (4) one ex-officio member representing the Department |
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| 23 | 23 | | of Information Resources appointed by the governor; |
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| 24 | 24 | | (5) one ex-officio member representing the secretary |
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| 25 | 25 | | of state appointed by the governor; and |
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| 26 | 26 | | (6) 10 members of the public, five of whom are |
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| 27 | 27 | | appointed by the speaker of the house of representatives and five of |
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| 28 | 28 | | whom are appointed by the lieutenant governor, who: |
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| 29 | 29 | | (A) have knowledge and experience in blockchain |
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| 30 | 30 | | technology; or |
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| 31 | 31 | | (B) represent an industry that would benefit from |
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| 32 | 32 | | the use of blockchain technology. |
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| 33 | 33 | | (c) The governor shall designate a member of the work group |
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| 34 | 34 | | appointed under Subsection (b)(3) of this section to serve as chair |
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| 35 | 35 | | of the work group. The members of the work group appointed under |
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| 36 | 36 | | Subsections (b)(1) and (2) of this section shall serve as co-vice |
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| 37 | 37 | | chairs of the work group. |
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| 38 | 38 | | (d) A member of the work group may not receive compensation |
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| 39 | 39 | | for serving on the work group but is entitled to reimbursement for |
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| 40 | 40 | | expenses incurred by the member in the performance of official |
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| 41 | 41 | | duties as a member of the work group as provided by the General |
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| 42 | 42 | | Appropriations Act. |
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| 43 | 43 | | (e) The work group shall meet at the call of the chair. |
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| 44 | 44 | | (f) The work group shall develop a master plan for the |
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| 45 | 45 | | expansion of the blockchain industry in this state and recommend |
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| 46 | 46 | | policies and state investments in connection with blockchain |
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| 47 | 47 | | technology. In developing the master plan, the work group shall: |
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| 48 | 48 | | (1) identify economic growth and development |
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| 49 | 49 | | opportunities presented by blockchain technology; |
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| 50 | 50 | | (2) assess the existing blockchain industry in this |
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| 51 | 51 | | state; |
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| 52 | 52 | | (3) review workforce needs and academic programs |
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| 53 | 53 | | required to build blockchain expertise across all relevant |
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| 54 | 54 | | industries; and |
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| 55 | 55 | | (4) make any legislative recommendations that will |
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| 56 | 56 | | help promote innovation and economic growth by reducing barriers to |
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| 57 | 57 | | and expediting the expansion of the state's blockchain industry |
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| 58 | 58 | | based on its findings under Subdivisions (1)-(3) of this |
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| 59 | 59 | | subsection. |
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| 60 | 60 | | (g) The chair of the work group may create sub-work groups |
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| 61 | 61 | | at the chair's discretion for the efficient operation of the work |
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| 62 | 62 | | group. The chair shall appoint the chair of each sub-work group. |
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| 63 | 63 | | The chair of a sub-work group may invite other members of the work |
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| 64 | 64 | | group to serve on the sub-work group. A sub-work group may consult |
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| 65 | 65 | | with subject matter experts. |
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| 66 | 66 | | (h) Not later than October 31, 2022, the work group shall |
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| 67 | 67 | | submit a report that includes the master plan developed under |
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| 68 | 68 | | Subsection (f) of this section and any findings and recommendations |
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| 69 | 69 | | from the sub-work groups appointed under Subsection (g) of this |
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| 70 | 70 | | section to each standing committee of the senate and house of |
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| 71 | 71 | | representatives with primary jurisdiction over economic |
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| 72 | 72 | | development or technology issues. |
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| 73 | 73 | | (i) The work group may adopt rules, procedures, and policies |
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| 74 | 74 | | as necessary to administer this section and implement the |
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| 75 | 75 | | responsibilities of the work group. |
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| 76 | 76 | | (j) This Act expires and the work group is abolished June |
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| 77 | 77 | | 30, 2023. |
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| 78 | 78 | | SECTION 2. As soon as practicable, but not later than |
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| 79 | 79 | | October 1, 2021, the governor, lieutenant governor, and speaker of |
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| 80 | 80 | | the house of representatives shall appoint the members of the work |
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| 81 | 81 | | group on blockchain matters established by this Act. |
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| 82 | 82 | | SECTION 3. Not later than November 1, 2021, the work group |
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| 83 | 83 | | on blockchain matters shall hold its initial meeting. |
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| 84 | 84 | | SECTION 4. This Act takes effect September 1, 2021. |
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