According to Bitcoin Magazine, Texas House Bill 4258 (H.B. 4258) was submitted to the Government Efficiency Executive Committee for review today. The bill authorizes state auditors to invest up to $250 million in Bitcoin, and also authorizes municipalities or counties to invest up to $10 million of their funds or funds under their control in Bitcoin and/or other cryptocurrencies. If the bill becomes law, it will take effect on September 1, 2025, leaving time for state and local government officials to develop investment strategies and custody plans.
According to Bitcoin Laws, H.B. 4258 is one of the eight currently effective Bitcoin or cryptocurrency related bills submitted to the Texas Senate or State House of Representatives. Among these eight bills, it is the fifth one to enter the committee review stage. Four of the bills (including the current one) will authorize the state to include Bitcoin in its balance sheet in some way. The other three bills - H B. 1598、 Senate Bill (S.B.) 21 and S B. 778- Both call for the establishment of a Strategic Bitcoin Reserve (SBR) in Texas. These three SBR bills have all entered the committee review stage, among which S B. 21 has now entered the second round of deliberation by the committee.
