House Bill No. [insert bill number] aims to establish a legal framework for managing abandoned digital assets in Louisiana. It enacts a new part of the Louisiana Revised Statutes, specifically R.S. 9:183 through 186, which includes definitions for key terms such as "administrator," "digital asset," and "qualified custodian." The bill stipulates that property held within a digital asset account is presumed abandoned three years after certain events, such as undelivered communications to the owner or lack of activity in the account. The bill also outlines the process for transferring these abandoned assets to a qualified custodian designated by the state treasurer, as well as the procedures for liquidation if necessary.

Additionally, the bill mandates that the qualified custodian must hold the digital assets for a minimum of three years to allow owners to claim them before any liquidation occurs. It specifies that any earnings from these assets, including interest and airdrops, will accrue to an unclaimed property fund dedicated to the management of digital assets. The administrator is required to submit an annual report to the legislature detailing the proceeds and expenditures related to this fund. Overall, the bill seeks to provide clarity and security in the handling of unclaimed digital assets while ensuring that owners have the opportunity to reclaim their property.