CS/CS/HB 735 - Blockchain Technology Summary

• Establishes the Florida Blockchain Task Force within the Department of Financial Services to study blockchain applications for government efficiency, cybersecurity, and economic development.

• Task force consists of 12 members appointed by the Governor (7 members), Chief Financial Officer (3 members), President of the Senate (1 member), and Speaker of the House (1 member), with expertise in blockchain technology or government leadership.

• Task force must develop a master plan identifying economic growth opportunities, assess existing blockchain industry in Florida, review workforce needs, and recommend policies to reduce regulatory barriers and promote innovation.

• Task force shall submit a report to the Governor and Legislature within 180 days of its first meeting, including cost-benefit analysis, implementation recommendations, draft legislation, identification of one pilot project, and any other relevant findings.

• Task force terminates upon submission of its final report and presentation of findings; members serve without compensation or expense reimbursement.