NY S08887

Establishes a ten-member task force to assess the feasibility, economic impacts, and effectiveness of implementing blockchain technology in state record keeping, information storage, and service delivery

Task force composition includes two members each appointed by the Senate Temporary President, Assembly Speaker, and Governor; two members appointed by the Chief Information Officer of the Office of Information Technology Services; and one member each appointed by the Senate and Assembly Minority Leaders

Task force members receive no compensation and must hold at least one public hearing during their examination

Requires the task force to submit a report by January 1, 2022 to the Governor, Assembly Speaker, and Senate Temporary President that includes opportunities and risks of blockchain technology, analysis of different blockchain types, a list of organizations using blockchain, and recommendations with legislative and regulatory proposals

Act takes effect immediately and automatically repeals on January 1, 2022