This bill proposes to amend existing statutes regarding the regulation of blockchain technology at the local government level. Specifically, it would insert provisions that prohibit cities and towns from imposing any taxes or fees on individuals or entities running a node on blockchain technology in a residence, with the exception of taxes levied on electricity. Additionally, the bill clarifies that the regulation of both running a node and the imposition of taxes or fees related to it is a matter of statewide concern, thus preempting local regulations.

The bill also makes technical and conforming changes to the definitions and language used in the statutes. It redefines "blockchain technology" to align with existing definitions in section 44-7061 and clarifies the meaning of "running a node on blockchain technology." Overall, the updates aim to streamline the legal framework surrounding blockchain technology and ensure consistent regulation across the state, preventing local governments from enacting conflicting rules.

Statutes affected:
Introduced Version: 9-500.42, 11-269.22, 42-6012, 44-7061
Senate Engrossed Version: 9-500.42, 11-269.22, 42-6012, 44-7061