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Bills · 2023-2024 Regular Session

AB 725

Died at session end Official bill text Atom feed

Relating to: central bank digital currency.

Bank Commercial code Data processing Federal_state relations

  1. Introduced, stopped here
  2. Passes Assembly, not reached
  3. Passes Senate, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill prohibits the state from accepting payment in the form of central bank

digital currency (CBDC). The bill defines CBDC as a digital currency issued,

authorized, or adopted by the Federal Reserve System or a federal agency that is a

liability of the Federal Reserve System and is directly available to the general public.

The bill also specifies that a CBDC is not money for purposes of the state's Uniform

Commercial Code and is not money of account of the state.

Sponsors

Introduced by: Allen (R) , Armstrong (R) , Behnke (R) , Binsfeld (R) , Bodden (R) , Brandtjen (R) , Brooks (R) , Goeben (R) , Murphy (R) , O'Connor (R) , Penterman (R) , Rettinger (R) , Rozar (R) , Schmidt (R)

3 cosponsors

Ballweg (R) , Nass (R) , Tomczyk (R)

Votes

Assembly: Report passage recommended by Committee on Financial Institutions, Ayes 7, Noes 3

Passed 7–3 Feb 7, 2024 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Full history

  1. Dec 6, 2023 · Assembly

    Introduced by Representatives Rozar, Bodden, O'Connor, Allen, Armstrong, Behnke, Binsfeld, Brooks, Goeben, Murphy, Penterman, Rettinger, Schmidt and Brandtjen; cosponsored by Senators Tomczyk, Nass and Ballweg

  2. Dec 6, 2023 · Assembly

    Read first time and referred to Committee on Financial Institutions

  3. Jan 10, 2024 · Assembly

    Public hearing held

  4. Jan 31, 2024 · Assembly

    Executive action taken

  5. Feb 7, 2024 · Assembly

    Report passage recommended by Committee on Financial Institutions, Ayes 7, Noes 3

  6. Feb 7, 2024 · Assembly

    Referred to committee on Rules

  7. Apr 15, 2024 · Assembly

    Failed to pass pursuant to Senate Joint Resolution 1