This bill proposes updates to current statutes regarding the regulation of blockchain technology at the local government level. Under the new provisions, a city or town may not impose a tax or fee on any person for running a node on blockchain technology in a residence, except for a tax levied pursuant to section 42-6012. Additionally, a county may not impose a tax or fee on any person for running a node on blockchain technology in a residence, with the same exception for taxes on electricity. The bill also clarifies that the imposition of a tax or fee on a person that runs a node on blockchain technology in a residence is a matter of statewide concern, thus preempting any further regulation by local governments. Furthermore, the bill introduces definitions for key terms related to blockchain technology. It specifies that "Blockchain technology" has the same meaning prescribed in section 44-7061. The existing definitions of "computational power" and "running a node on blockchain technology" are retained but restructured for clarity. Overall, the bill aims to streamline the regulatory framework surrounding blockchain technology and protect individuals from local taxation related to running nodes in their residences.

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