The new legislation would allow the Chief Financial Officer and Florida’s pension fund to allocate up to 10% in digital assets.
House Bill HB 183, filed in the Florida House of Representatives, would permit the state’s Chief Financial Officer to allocate up to 10% of specified public funds – including the General Revenue Fund, the Budget Stabilization Fund, and various trust funds – into digital assets and exchange-traded products (ETFs).
If approved, the measure would also authorize the State Board of Administration to invest up to 10% of the Florida Retirement System’s System Trust Fund in digital assets.
The proposal provides a broad definition of eligible digital assets, including Bitcoin, tokenized securities, and NFTs. Assets could be held directly by the CFO, through a qualified custodian, or via a SEC-registered ETF.
The bill presents Bitcoin as a potential store of value and inflation hedge for state funds. It sets an effective date of July 1, 2026.
In addition to institutional investments, the Florida initiative introduces another innovation: residents of the state could pay certain taxes and fees using digital assets. These payments would be converted into dollars and transferred to the state’s general fund.
HB 183 is now awaiting assignment to the relevant committee and hearings in the House. If approved there, the bill would still need Senate approval and the governor’s signature to become law.
