House Bill 183 amends various sections of Florida Statutes to enhance the investment strategies of the Chief Financial Officer (CFO) and the Board of Trustees of the State Board of Administration by allowing investments in digital assets and exchange-traded products. The bill introduces definitions for terms such as "digital asset," "qualified custodian," and "exchange-traded product," and permits the CFO to invest up to 10% of any fund in digital assets, provided they are held in a manner that ensures state control. It also mandates that taxes and fees paid in digital assets be transferred to the General Revenue Fund, with provisions for reimbursement in U.S. currency. Additionally, the bill outlines requirements for managing digital assets, including limits on investments and collateralized loans.

Moreover, the bill requires the board managing public funds to develop a divestment plan for direct holdings in Chinese companies and report on scrutinized companies and their activities in Sudan. It modifies the investment policy statement to align with updated fiduciary standards, emphasizing that investment decisions must be based solely on pecuniary factors. The legislation also grants the board of trustees of the Florida School for the Deaf and the Blind the authority to invest in specified securities. The act is set to take effect on July 1, 2026, reflecting a modernization of Florida's investment approach while ensuring compliance with existing fiduciary standards.

Statutes affected:
H 183 Filed: 17.57, 17.61, 121.151, 280.03, 215.4701, 215.473, 215.4735, 215.475, 215.4755, 215.50, 215.555, 218.409, 1002.36, 1002.395