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A BILL TO BE ENTITLED
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AN ACT
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relating to the creation of a work group on blockchain matters |
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concerning this state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. (a) In this section: |
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(1) "Blockchain" includes digital assets, virtual |
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currency, and the integration of smart contracts. |
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(2) "Work group" means the work group on blockchain |
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matters established under this section. |
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(b) The work group on blockchain matters is composed of the |
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following 16 members: |
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(1) one member of the house of representatives |
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appointed by the speaker of the house of representatives; |
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(2) one member of the senate appointed by the |
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lieutenant governor; |
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(3) two members representing institutions of higher |
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education appointed by the governor; |
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(4) one ex-officio member representing the Department |
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of Information Resources appointed by the governor; |
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(5) one ex-officio member representing the secretary |
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of state appointed by the governor; and |
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(6) 10 members of the public, five of whom are |
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appointed by the speaker of the house of representatives and five of |
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whom are appointed by the lieutenant governor, who: |
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(A) have knowledge and experience in blockchain |
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technology; or |
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(B) represent an industry that would benefit from |
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the use of blockchain technology. |
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(c) The governor shall designate a member of the work group |
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appointed under Subsection (b)(3) of this section to serve as chair |
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of the work group. The members of the work group appointed under |
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Subsections (b)(1) and (2) of this section shall serve as co-vice |
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chairs of the work group. |
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(d) A member of the work group may not receive compensation |
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for serving on the work group but is entitled to reimbursement for |
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expenses incurred by the member in the performance of official |
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duties as a member of the work group as provided by the General |
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Appropriations Act. |
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(e) The work group shall meet at the call of the chair. |
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(f) The work group shall develop a master plan for the |
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expansion of the blockchain industry in this state and recommend |
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policies and state investments in connection with blockchain |
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technology. In developing the master plan, the work group shall: |
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(1) identify economic growth and development |
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opportunities presented by blockchain technology; |
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(2) assess the existing blockchain industry in this |
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state; |
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(3) review workforce needs and academic programs |
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required to build blockchain expertise across all relevant |
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industries; and |
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(4) make any legislative recommendations that will |
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help promote innovation and economic growth by reducing barriers to |
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and expediting the expansion of the state's blockchain industry |
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based on its findings under Subdivisions (1)-(3) of this |
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subsection. |
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(g) The chair of the work group may create sub-work groups |
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at the chair's discretion for the efficient operation of the work |
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group. The chair shall appoint the chair of each sub-work group. |
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The chair of a sub-work group may invite other members of the work |
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group to serve on the sub-work group. A sub-work group may consult |
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with subject matter experts. |
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(h) Not later than October 31, 2022, the work group shall |
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submit a report that includes the master plan developed under |
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Subsection (f) of this section and any findings and recommendations |
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from the sub-work groups appointed under Subsection (g) of this |
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section to each standing committee of the senate and house of |
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representatives with primary jurisdiction over economic |
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development or technology issues. |
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(i) The work group may adopt rules, procedures, and policies |
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as necessary to administer this section and implement the |
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responsibilities of the work group. |
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(j) This Act expires and the work group is abolished June |
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30, 2023. |
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SECTION 2. As soon as practicable, but not later than |
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October 1, 2021, the governor, lieutenant governor, and speaker of |
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the house of representatives shall appoint the members of the work |
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group on blockchain matters established by this Act. |
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SECTION 3. Not later than November 1, 2021, the work group |
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on blockchain matters shall hold its initial meeting. |
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SECTION 4. This Act takes effect September 1, 2021. |