Bill > SB34

This bill authorizes the Kansas Public Employees Retirement System (KPERS) board of trustees to invest up to 10% of the fund's total investment assets in bitcoin exchange-traded products, which are financial instruments traded on a U.S. regulated exchange and derive their value from an underlying pool of assets. The bill defines bitcoin as the decentralized digital currency launched in 2009 and specifies that exchange-traded products must be approved by federal regulatory agencies like the Securities and Exchange Commission or the Commodities Futures Trading Commission. The investment is subject to specific limitations, including that if the value of bitcoin investments exceeds 10% due to market forces, the board is not required to sell the investments unless doing so would be in the best interest of the fund's members. The bill also establishes that these investments must align with the fund's existing investment objectives of preserving capital and providing benefits to members, and must be made with the same level of prudence and care used by experienced investment professionals. The proposed changes are part of an amendment to the existing Kansas public employees retirement fund statute, which outlines the board's responsibilities for managing and investing retirement system funds.

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https://kslegislature.gov/li/b2025_26/measures/sb34/