Governor of Texas Signs Bill No. 4488 to Protect the State's Bitcoin Reserve as a Permanent Fund
According to ChainCatcher, Texas Governor Greg Abbott has signed House Bill No. 4488 (HB 4488), which aims to protect certain state funds, including any Bitcoin reserves created outside the state budget, from being included in general revenue. The bill exempts the reserve fund and other special funds from the automatic sunset provision in 2025.
Governor Greg Abbott has not yet made a decision on Senate Bill No. 21 (SB21). This law authorizes Texas to invest in Bitcoin and other digital assets with a market capitalization of at least $500 billion. Currently, only Bitcoin meets this requirement.
Greg Abbott has until June 22 to sign or veto Senate Bill No. 21, which was presented to him on June 1. Because the bill was introduced toward the end of the legislative session, Texas law requires him to act within 20 days of its submission.
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