ARIZONA HOUSE OF REPRESENTATIVES

Fifty-fourth Legislature

Second Regular Session

HB 2400: technical correction; self-service storage; notice

S/E: blockchain and cryptocurrency study committee

Sponsor: Representative Weninger, LD 17

Committee on Commerce

Summary of the Strike-Everything Amendment to HB 2400

Overview

Establishes the Blockchain and Cryptocurrency Study Committee (Committee).

History

Blockchain is a cryptographically-secured distributed ledger that records transactions chronologically, permanently and unalterably.

Laws 2019, Chapter 263 appropriated $1,250,000 in FY 2020 to the Arizona Commerce Authority to distribute to applied research centers and institutes located in this state that specialize in blockchain technology.

Provisions

1. Establishes the 11-member Committee and outlines the Committee membership. (Sec. 1)

2. Directs the Committee to:

a) Meet as often as the chairperson deems necessary;

b) Review data on the scope of blockchain and cryptocurrency throughout the country;

c) Compile an overview of potential legislation;

d) Solicit ideas and opinions of industry experts on additional legislation in Arizona; and

e) Submit a report regarding the Committee's findings and recommendations of legislative priorities that will foster a positive blockchain and cryptocurrency economic environment in this state to the Speaker of the House of Representatives by December 31, 2020. (Sec. 1)

3. Terminates the Committee October 1, 2021. (Sec. 1)

6. ---------- DOCUMENT FOOTER ---------

7. HB 2400

8. Initials PRB Page 0 Commerce

10. ---------- DOCUMENT FOOTER ---------