Florida Senate - 2026                        COMMITTEE AMENDMENT
       Bill No. SB 1040
       
       
       
       
       
       
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                              LEGISLATIVE ACTION                        
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       The Committee on Banking and Insurance (Gruters) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 12 - 36
    4  and insert:
    5         Section 1. Section 215.994, Florida Statutes, is created to
    6  read:
    7         215.994 Florida Strategic Cryptocurrency Reserve.—
    8         (1) The Florida Cryptocurrency Reserve is a trust fund
    9  created within the office of the Chief Financial Officer.
   10         (2) The reserve shall consist of all of the following:
   11         (a) Money transferred or deposited to the credit of the
   12  reserve by legislative appropriation. The Legislature may
   13  appropriate funds for deposit to the credit of the reserve for
   14  the purposes of:
   15         1. Investing in cryptocurrency; and
   16         2. Administering and managing all aspects of the reserve.
   17  Administering the reserve includes, but is not limited to, being
   18  responsible for and supervising the custody, consultants,
   19  external managers, and software related to the implementation of
   20  the reserve.
   21         (b) Revenue that the Legislature by general law dedicates
   22  for deposit to the credit of the reserve.
   23         (c) Cryptocurrency purchased using money in or received by
   24  the reserve, including any cryptocurrency:
   25         1. Derived from the fork of a distributed ledger; or
   26         2. Distributed pursuant to an airdrop to the state’s
   27  cryptocurrency addresses.
   28         (d) Investment earnings, interest, or rewards accruing on
   29  reserve moneys that are not invested in cryptocurrency, which
   30  earnings, interest, or rewards may be invested as provided in s.
   31  17.57.
   32         (3) The purpose of the reserve is to acquire, hold, manage,
   33  and dispose of cryptocurrency and any assets authorized in this
   34  section or s. 215.993 for the benefit
   35  
   36  ================= T I T L E  A M E N D M E N T ================
   37  And the title is amended as follows:
   38         Delete line 2
   39  and insert:
   40         An act relating to trust funds; creating s. 215.994,