This bill amends the Kansas public employees retirement system to authorize the board of trustees to invest up to 10% of the Kansas public employees retirement fund in bitcoin exchange-traded products. The legislation outlines specific requirements, limitations, and definitions regarding such investments, including that the total value of bitcoin investments must not exceed 10% of the total investment assets of the fund. Additionally, it specifies that the board must not invest in bitcoin until the total value of such investments is below the 10% threshold, and it allows for exceptions if market forces cause the value to exceed this limit.

The bill also includes a repeal of the existing section K.S.A. 2024 Supp. 74-4921, which indicates a significant restructuring of the investment policies for the retirement fund. The new provisions emphasize the board's responsibility to manage the fund in the best interests of its members and beneficiaries, ensuring that investments are made prudently and in accordance with established policies. Overall, the bill aims to modernize the investment strategy of the Kansas public employees retirement system by incorporating cryptocurrency as a potential asset class.

Statutes affected:
As Introduced: 74-4921, 74-49
As introduced: 74-4921, 74-49