The bill, H.B. No. 1043, mandates the General Land Office (GLO) to conduct a study on the establishment and implementation of a distributed ledger-based title registry pilot program. This program aims to utilize distributed ledger technology for recording title transfers, incorporating both urban and rural counties to assess the impact on different types of counties. The study will evaluate various aspects of the pilot program, including costs, security, transparency, and the potential for expanding the methods to other real property documents. Additionally, the GLO is required to establish a working group comprising representatives from various sectors, including counties, title insurance agents, and the banking industry, to provide feedback and explore opportunities related to the study.

The bill outlines specific goals for the study, such as developing protocols for implementation, identifying participating counties, and determining funding sources. It also emphasizes the importance of data privacy and fraud protection in the context of a distributed ledger system. The GLO must adopt necessary rules by October 1, 2025, and submit a report on the study's findings and recommendations to the legislature by January 1, 2027. The act is set to expire on September 1, 2027, and will take effect on September 1, 2025.