summary
Introduced
02/05/2026
02/05/2026
In Committee
02/05/2026
02/05/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Creates the Local Government Digital Asset Investment Act. Sets forth the purpose of the Act. Provides that a public agency investing in Bitcoin-related exchange-traded funds, digital asset stocks, or Bitcoin bonds shall include a summary of the investments, including performance and allocation, in its annual financial report submitted to the Illinois Comptroller under the Governmental Account Audit Act. Amends the Public Funds Investment Act. Provides that a public agency may invest up to 5% of its public funds in (1) bitcoin-related exchange-traded funds listed on a national securities exchange registered with the U.S. Securities and Exchange Commission; (2) stocks of publicly traded companies listed on a national securities exchange that hold at least 25% of their total assets in Bitcoin or other digital currencies, as verified by the company's most recent audited financial statements; and (3) bitcoin bonds listed on a national securities exchange or approved by the U.S. Securities and Exchange Commission, issued by a government, corporation, or other entity, with principal or interest payments denominated in Bitcoin.
AI Summary
This bill, titled the Local Government Digital Asset Investment Act, allows public agencies in Illinois to invest up to 5% of their public funds in specific digital asset-related instruments, including Bitcoin-related exchange-traded funds (ETFs) that track Bitcoin's value, stocks of companies holding at least 25% of their assets in Bitcoin or other digital currencies, and Bitcoin bonds, which are debt securities with principal or interest payments denominated in Bitcoin. These investments must be listed on national securities exchanges registered with the U.S. Securities and Exchange Commission (SEC) or approved by the SEC. The bill also mandates that any public agency making these investments must include a summary of their performance and allocation in their annual financial reports submitted to the Illinois Comptroller, and the Comptroller may issue nonbinding guidance to assist agencies with these new investment options.
Sponsors (2)
Last Action
Added as Co-Sponsor Sen. Neil Anderson (on 02/25/2026)
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