The Texas Strategic Bitcoin Reserve Act establishes a special fund known as the Texas Strategic Bitcoin Reserve, which will be managed by the comptroller. This reserve is intended to allow the state to own and hold bitcoin as a financial asset, and it will also enable individuals to donate bitcoin to the state. The bill outlines definitions related to bitcoin and cryptocurrency, legislative findings on the strategic value of bitcoin, and the purpose of the reserve. It includes provisions for the secure management and storage of bitcoin, prohibits certain transactions, and establishes an advisory committee to oversee the reserve's operations.

Additionally, the bill allows for appropriations to purchase bitcoin for the reserve, with specific limits on the amount that can be appropriated. The comptroller is tasked with preparing a biennial report detailing the reserve's holdings and any related transactions. The legislation also includes provisions for the adoption of rules necessary for the administration of the reserve, including security protocols and donation procedures. The act will take effect immediately if it receives a two-thirds vote from both houses of the legislature; otherwise, it will take effect on September 1, 2025.

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