House Bill 1214

(As Passed the House)

AN ACT TO CREATE THE JOINT LEGISLATIVE STUDY COMMITTEE ON BLOCKCHAIN, DIGITAL ASSETS, AND CRYPTOCURRENCY; TO DEVELOP A COMPREHENSIVE AND STRATEGIC PLAN THAT SETS POLICY OBJECTIVES AND RECOMMENDATIONS FOR THE USE OF BLOCKCHAIN, CRYPTOCURRENCY, AND OTHER DIGITAL ASSETS IN THE STATE OF MISSISSIPPI; TO PROVIDE FOR THE COMPOSITION OF THE STUDY COMMITTEE AND TIME BY WHICH APPOINTMENTS MUST BE MADE; TO STIPULATE THAT MEMBERS OF THE STUDY COMMITTEE SHALL SERVE WITHOUT COMPENSATION EXCEPT FOR ACTUAL EXPENSES INCURRED IN THE PERFORMANCE OF ITS DUTIES; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) There is created the Joint Study Committee on Blockchain, Cryptocurrency, and Other Digital Assets, which shall consist of the following members:

(a) Three (3) members of the Senate Finance Committee, appointed by the Lieutenant Governor;

(b) The Chairman of the Senate Finance Committee, who shall serve as co-chairman of the committee with the Chairman of the House Banking and Financial Services Committee;

(c) Three (3) members of the Banking and Financial Services Committee of the House of Representatives, appointed by the Speaker of the House of Representatives;

(d) The Chairman of the House Banking and Financial Services Committee, who shall serve as co-chairman of the committee with the Chairman of the Senate Finance Committee;

(e) An official from the Secretary of State's office, appointed by the Secretary of State;

(f) An official from the Attorney General's office, appointed by the Attorney General; and

(g) An official from the Department of Banking and Consumer Finance, appointed by the Commissioner of Banking and Consumer Finance.

All appointments to the committee shall be made not later than thirty (30) days after the date this act becomes effective. The committee shall meet as soon as practicable after the appointments have been made upon the joint call of the Speaker and the Lieutenant Governor, and shall organize for business. A majority of the membership shall be necessary for the establishment of a quorum of the committee, and a majority vote of the committee members present to establish a quorum shall be required for the adoption of any reports and recommendations.

(2) The committee shall undertake a study of the conditions, needs, issues, problems and solutions related to the use of blockchain, cryptocurrency, and other digital assets in the State of Mississippi, and recommend any action or legislation that the committee deems necessary or appropriate.

(3) The co-chairmen shall call all meetings of the committee. The committee may conduct the meetings at any place and any time it deems necessary or convenient to enable it to exercise fully and effectively its powers, perform its duties and accomplish the objectives and purposes of this resolution.

(4) Members of the committee shall receive no compensation for their service on the committee, but may receive reimbursement for mileage and actual expenses as provided in Section 25-3-41, to the extent that funds are available for that purpose.

(5) (a) In the event the committee adopts any specific findings or recommendations that include suggestions for proposed legislation, the co-chairmen shall file a report of the same prior to the date of the committee's dissolution specified in subsection (6), subject to paragraph (c) of this subsection.

(b) In the event the committee adopts a report that does not include suggestions for proposed legislation, the co-chairmen shall file the report, subject to paragraph (c) of this subsection.

(c) No report shall be filed unless the same has been approved prior to the date of the committee's dissolution as specified in this act by a majority vote of a quorum of the committee. A report so approved shall be signed by the co-chairmen of the committee and filed with the Secretary of the Senate and the Clerk of the House of Representatives.

(d) In the absence of an approved report, the co-chairmen may file, with the Secretary of the Senate and the Clerk of the House of Representatives, copies of the minutes of the meetings of the committee in lieu thereof.

(6) The committee shall stand dissolved on June 30, 2025.

SECTION 2. This act shall take effect and be in force from and after July 1, 2024, and shall stand repealed on June 30, 2024.