AN ACT RELATING TO PUBLIC FINANCE -- THE RHODE ISLAND DIGITAL ASSET RETENTION ACT

HB 6007, known as the Rhode Island Digital Asset Retention Act, authorizes the state treasurer to invest uncommitted state funds, including the general fund and budget stabilization reserve, directly in digital assets like Bitcoin. These investments are limited to 10% of a fund's total and must use a secure custody solution via a qualified custodian or be in an exchange-traded product. The bill also permits state retirement systems to invest uncommitted funds in digital asset exchange-traded products. Additionally, the state treasurer may loan acquired digital assets to generate returns if it doesn't increase financial risk.