The proposed bill, titled the "Inflation Protection Act of 2026," aims to amend the Code of West Virginia by introducing a new article that outlines investment opportunities for the Board of Treasury and State Retirement Fund. It includes definitions for key terms such as "digital asset," "exchange-traded product," and "precious metal," and establishes guidelines for the investment of public funds. The Board of Treasury Investments is authorized to invest in precious metals, digital assets with a market cap exceeding $750 billion, and stablecoins, with a cap of 10% of total public funds in any account. The bill also specifies that any digital assets must be held securely, either directly by the state treasurer or through qualified custodians.

Additionally, the bill allows state retirement funds to invest in exchange-traded products that are registered with relevant regulatory bodies. It empowers the state treasurer to propose rules for legislative approval regarding the implementation of these investment strategies. The legislation emphasizes the importance of secure custody solutions for digital assets and outlines conditions under which the state may engage in staking or loaning digital assets to enhance returns. Overall, the bill seeks to modernize the state's investment approach by incorporating digital assets and precious metals into its portfolio.

Statutes affected:
Introduced Version: 12-4C-1, 12-4C-2, 12-4C-3, 12-4C-4, 12-4C-5