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AZ HCR2041

Concurrent Resolution

Status

Introduced

1/29/2024

Primary Sponsor

Austin Smith

Click for details

Origin

House of Representatives

Fifty-sixth Legislature - Second Regular Session (2024)

AI Summary

  • Concurrent resolution encouraging the Arizona State Retirement System and Public Safety Personnel Retirement System to evaluate potential investments in Bitcoin and digital asset exchange-traded funds (ETFs).

  • Directs the retirement systems to monitor developments in digital asset ETFs and consult with SEC-approved digital asset ETF providers regarding investment implications.

  • Requires submission of a comprehensive report on the feasibility, risks, and benefits of investing state retirement system funds in digital assets to the State Treasurer, Senate President, and House Speaker at least three months before the 57th Legislature's first regular session.

  • Notes the SEC approved eleven spot Bitcoin ETFs as of January 10, 2024, and emphasizes growing institutional interest in digital assets as part of diversified pension fund portfolios.

Legislative Description

State retirement systems; digital assets.

Concurrent Resolution

Last Action

House read second time

1/30/2024

Committee Referrals

Rules1/29/2024
Ways and Means1/29/2024

Full Bill Text

No bill text available