MN HF2946

State agencies authorized to accept Bitcoin and other cryptocurrency for payments including license fees, permit fees, taxes, and purchases of goods or services, effective January 1, 2026

State Board of Investment permitted to invest pension and state funds in Bitcoin and other cryptocurrencies, with cryptocurrency also added as an authorized investment option for individual retirement account plans and covered pension plans

Commissioner of Management and Budget required to contract with entities to enable agencies to accept cryptocurrency payments and exchange cryptocurrency to U.S. dollars

Income received in cryptocurrency excluded from Minnesota state income tax through a subtraction from federal adjusted gross income, and cryptocurrency gains excluded from the 1% net investment income tax on amounts over $1,000,000

County treasurers authorized to accept cryptocurrency for property tax payments and delinquent tax payments, with receipts required when payment is made in cryptocurrency