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House Bill 741

Actions | Amendments

Last Action	03/26/24: to Committee on Committees (S)
Title	AN ACT relating to blockchain digital assets.
Bill Documents	Current/Final Introduced
Bill Request Number	1994
Sponsor	A. Bowling
Summary of Original Version	Create new sections of KRS Chapter 369 to define terms relating to blockchain technology; allow individuals to use digital assets and self-hosted wallets; provide an exemption of income tax for transactions less than $200; allow home digital asset mining and digital asset mining businesses to operate within local ordinances relating to noise pollution; amend KRS 141.019 and 141.039 to conform.
Index Headings of Original Version	Local Government - Home digital asset mining and digital asset mining businesses, local noise pollution ordinance Technology - Home digital asset mining and digital asset mining businesses, local noise pollution ordinance Taxation, Income--Corporate - Digital asset mining business, transactions under $200, exemption Taxation, Income--Individual - Home digital asset mining, transactions under $200, exemption
Jump to Proposed Amendments	House Committee Substitute 1
Votes	Vote History

Actions

Top | Amendments

02/26/24	introduced in House to Committee on Committees (H)
03/05/24	to Banking & Insurance (H)
03/11/24	taken from Banking & Insurance (H) 1st reading returned to Banking & Insurance (H)
03/12/24	taken from Banking & Insurance (H) 2nd reading returned to Banking & Insurance (H)
03/13/24	reported favorably, to Rules with Committee Substitute (1)
03/15/24	recommitted to Appropriations & Revenue (H)
03/25/24	taken from Appropriations & Revenue (H) to Rules (H) posted for passage in the Regular Orders of the Day for Tuesday, March 26, 2024
03/26/24	3rd reading, passed 75-17 with Committee Substitute (1) received in Senate to Committee on Committees (S)

Proposed Amendments

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Amendment	House Committee Substitute 1
Summary	Retain original provisions; define additional terms; create a new section of KRS Chapter 369 to provide guidelines for operation of a node; amend KRS 286.11-007 to exclude home digital asset mining, digital asset mining business, or the operation of a node from money transmitter license requirements; amend KRS 292.340 to state that digital asset mining or staking as a service shall not be deemed to be offering or selling a security.
Index Headings	Information Technology - Digital asset mining business, node operations, staking Technology - Home digital asset mining and digital asset mining businesses, node operations, requirements Taxation, Income--Corporate - Digital asset mining business, node operations, staking Taxation, Income--Individual - Home digital asset mining, node operations, staking

Last updated: 9/26/2024 1:37 PM (EDT)