Technology (Emerging Technology)

SB 168 establishes a two-year pilot program (2027-2028) in Maryland's State Department of Assessments and Taxation to test blockchain technology for recording real property ownership. The program allows property owners in up to three selected counties to opt into having their titles represented as secure digital tokens on a blockchain registry. This system would enable law enforcement and courts to verify ownership in real time, particularly for disputes involving squatting. The pilot requires creating a secure registry, testing smart contracts for title transfers, and reporting results to the legislature by 2029. It does not mandate statewide adoption but aims to assess blockchain's potential for improving property record security and dispute resolution.

HB 51 establishes Maryland's Digital Asset Reserve Fund, a permanent state fund to invest cryptocurrency using money seized from gambling violations (like illegal bookmaking or betting). The State Treasurer would manage this fund, directing forfeiture proceeds from gambling enforcement into cryptocurrency investments that meet a $500 billion market capitalization minimum. The bill modifies criminal procedure laws to redirect these seized funds to the new reserve instead of the general fund, and adds new rules for managing crypto assets securely. It does not affect general state tax revenue or other funding sources.