The Ohio Strategic Cryptocurrency Reserve Act introduces significant amendments to the Revised Code, particularly through the addition of a new section, 135.146, which defines and regulates investments in digital assets and exchange-traded products by state retirement systems. The bill allows the Treasurer of State to invest up to ten percent of specific state funds in digital assets, provided these assets meet certain criteria, such as being exchange-traded products with substantial market capitalization. It also clarifies that the public employees retirement board and the Ohio police and fire pension fund board can invest in these products, ensuring that their investment strategies remain focused on maximizing returns for participants and beneficiaries without the intent to influence social or environmental policies.

Additionally, the bill establishes the state lottery gross revenue fund, which will be managed by the Treasurer of State, and mandates that any surplus funds be invested according to state laws, including the new provisions for exchange-traded products. It also creates a deferred prizes trust fund for the statewide lottery, allowing investments in obligations with shorter maturities and requiring annual audits by the auditor of state. The legislation emphasizes the importance of prioritizing returns in investment decisions and repeals existing sections of the Revised Code to streamline the management and investment framework for these funds, including provisions for the state highway patrol retirement board to invest in exchange-traded products.

Statutes affected:
As Introduced: 145.11, 742.11, 3307.15, 3309.15, 3770.06, 5505.06