AL HB482

Authorizes the State Treasurer to invest available state monies in digital assets, subject to specified requirements and limitations.

Limits digital asset investments to no more than 10 percent of any fund's balance at the time of investment.

Restricts eligible digital assets to exchange-traded products or assets with average market capitalization of at least $750 billion over the preceding 12 months.

Requires digital assets be held directly by the State Treasurer using secure custody solutions, through qualified custodians, or as exchange-traded products, with security measures including encrypted private keys and geographically diversified data centers.

Permits the State Treasurer to loan acquired digital assets to generate additional returns if determined to not increase financial risk, and allows adoption of implementing rules; effective October 1, 2025.