The Governor vetoed the act on July 5, 2024. The Governor's objections and veto message are available here: https://webservices.ncleg.gov/ViewBillDocument/2023/9411/0/H690-BD-NBC-12421.
NO CENTRL BANK DIGITAL CURRENCY PMTS TO STATE. (NEW)
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View NCGA Bill Details | 2023-2024 Session |
AN ACT TO PROHIBIT PAYMENTS TO THE STATE USING CENTRAL BANK DIGITAL CURRENCY OR PARTICIPATION BY THE STATE IN FEDERAL RESERVE BRANCH TESTING OF CENTRAL BANK DIGITAL CURRENCY.Intro. by Warren, Brody.
Bill History:
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Tue, 18 Apr 2023 House: Filed
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Tue, 18 Apr 2023 House: Filed
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Wed, 19 Apr 2023 House: Passed 1st Reading
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Wed, 19 Apr 2023 House: Passed 1st Reading
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Thu, 27 Apr 2023 House: Reptd Fav Com Substitute
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Thu, 27 Apr 2023 House: Re-ref Com On Commerce
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Thu, 27 Apr 2023 House: Reptd Fav Com Substitute
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Thu, 27 Apr 2023 House: Re-ref Com On Commerce
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Tue, 2 May 2023 House: Reptd Fav Com Sub 2
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Wed, 3 May 2023 House: Reptd Fav
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Wed, 3 May 2023 House: Cal Pursuant Rule 36(b)
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Wed, 3 May 2023 House: Added to Calendar
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Wed, 3 May 2023 House: Passed 2nd Reading
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Wed, 3 May 2023 House: Passed 3rd Reading
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Wed, 3 May 2023 House: Special Message Sent To Senate
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Thu, 4 May 2023 Senate: Special Message Received From House
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Thu, 4 May 2023 Senate: Passed 1st Reading
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Thu, 4 May 2023 Senate: Passed 1st Reading
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Thu, 4 May 2023 Senate: Ref To Com On Rules and Operations of the Senate
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Thu, 4 May 2023 Senate: Ref To Com On Rules and Operations of the Senate
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Thu, 20 Jun 2024 Senate: Withdrawn From Com
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Thu, 20 Jun 2024 Senate: Withdrawn From Com
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Mon, 24 Jun 2024 Senate: Reptd Fav Com Substitute
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Mon, 24 Jun 2024 Senate: Com Substitute Adopted
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Mon, 24 Jun 2024 Senate: Re-ref Com On Rules and Operations of the Senate
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Tue, 25 Jun 2024 Senate: Reptd Fav
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Tue, 25 Jun 2024 Senate: Withdrawn From Cal
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Tue, 25 Jun 2024 Senate: Placed on Today's Calendar
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Tue, 25 Jun 2024 Senate: Passed 2nd Reading
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Tue, 25 Jun 2024 Senate: Passed 3rd Reading
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Tue, 25 Jun 2024 Senate: Special Message Sent To House
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Tue, 25 Jun 2024 House: Special Message Received For Concurrence in S Com Sub
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Tue, 25 Jun 2024 House: Cal Pursuant 36(b)
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Tue, 25 Jun 2024 House: Placed On Cal For 06/26/2024
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Wed, 26 Jun 2024 House: Concurred In S Com Sub
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Wed, 26 Jun 2024 House: Ordered Enrolled
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Thu, 27 Jun 2024 House: Ratified
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Thu, 27 Jun 2024 House: Pres. To Gov. 6/27/2024
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Fri, 5 Jul 2024 House: Vetoed 07/05/2024
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Fri, 5 Jul 2024 House: Received from the Governor
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Wed, 10 Jul 2024 House: Placed On Cal For 07/29/2024
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Mon, 29 Jul 2024 House: Withdrawn From Cal
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Mon, 29 Jul 2024 House: Placed On Cal For 07/31/2024
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Wed, 31 Jul 2024 House: Veto Overridden
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Thu, 1 Aug 2024 Senate: Veto Received From House
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Thu, 1 Aug 2024 Senate: Ref To Com On Rules and Operations of the Senate
Bill Summaries:
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Bill H 690 (2023-2024)Summary date: Jul 8 2024 - View Summary
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Bill H 690 (2023-2024)Summary date: Jun 24 2024 - View Summary
Senate committee substitute to the 3rd edition makes the following changes.
Makes a technical change to new GS 147-86.19(c).
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Bill H 690 (2023-2024)Summary date: May 2 2023 - View Summary
House committee substitute to the 2nd edition makes the following changes.
Revises new GS 147-86.19 as follows. Removes the term cryptocurrency and replaces it with central bank digital currency, defined as a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the US Federal Reserve System or a federal agency that is made directly available to a consumer by such entities. Specifies that the term includes a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the US Federal Reserve System or a federal agency that is processed or validated directly by such entities. Bars a state agency or the General Court of Justice from accepting a payment using central bank digital currency (was, using cryptocurrency). Adds a prohibition on a state agency or the General Court of Justice from participating in any test of central bank digital currency by any Federal Reserve branch. Adds a severability clause. Amends the act's titles.
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Bill H 690 (2023-2024)Summary date: Apr 27 2023 - View Summary
House committee substitute to the 1st edition makes the following changes.
Revises new GS 147-86.19 to also bar the State's "General Court of Justice," meaning any agency, institution, bureau, board, commission, or officer of the General Court of Justice as defined by the State Constitution, from accepting a payment using cryptocurrency.
Amends GS 147-86.11 to specify that GS 147-86.19 applies to the General Court of Justice, regardless of their exclusion from the State Controller's required cash management policy for all State agencies.
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Bill H 690 (2023-2024)Summary date: Apr 18 2023 - View Summary
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font-family:"Times New Roman",serif;}Enacts new section GS 147-86.19 to prohibit state agencies from accepting cryptocurrency. Defines cryptocurrency as “digital or virtual currency that relies on cryptography to effect transfers and a decentralized network to record transactions.” Defines state agency as “any institution, bureau, board, commission, officer, or political subdivision of the State.”
House committee substitute to the 2nd edition changed the long title. Original title was AN ACT TO PROHIBIT PAYMENTS IN CRYPTOCURRENCY TO THE STATE.