HB 92 North Carolina House · 2025-2026 Session

NC Digital Assets Investments Act.

HB 92, titled the "NC Digital Assets Investments Act," authorizes the North Carolina State Treasurer to invest various state funds in qualifying digital assets. This includes funds from the General Fund, Highway Fund, and numerous retirement and special funds. The bill specifies that eligible digital assets must be exchange-traded products with an average market capitalization of at least $750 billion over the preceding 12 months. Additionally, investments in digital assets cannot exceed 10% of a fund's balance, and the State Treasurer must use a defined "secure custody solution" if managing these assets internally.

Bill status passed 3 of 5 stages cleared

Introduction

Feb 2025

Committee Review

May 2025

House Passage

Apr 2025

Senate Passage

Governor

Introduced Feb 10, 2025 Last action May 1, 2025

Maddy AI version diff · 3 comparisons

What changed between versions

Edition 2 → Edition 3 · 4 edits

MODERATE

The bill was significantly rewritten to shift from immediately authorizing state funds to invest in digital assets to a phased approach. The primary version now directs the State Treasurer to study the feasibility of allowing retirement plan members to invest, while a new section tasks the State Bureau of Investigation with studying how to create a reserve for seized digital assets. Additionally, the bill includes a 'sunset' clause that would repeal its own investment provisions if two other pending bills pass, ensuring consistency across different legislative versions.

Scope change

The bill's scope expanded from a direct mandate for state investment to include feasibility studies for employee retirement investments and a new reserve for seized assets, while adding a conditional repeal mechanism based on other legislation.

REQUIREMENT

The immediate authority for the State Treasurer to invest state funds was replaced with a directive to examine the feasibility of allowing members of the Supplemental Retirement Income Plan and 457(b) Deferred Compensation Plan to invest in digital assets.

New conditional sections were added stating that if other specific bills (HB 506 or SB 709) become law, this act's investment provisions will be repealed to prevent conflicting laws.

SCOPE

A new provision was added requiring the State Bureau of Investigation to study the feasibility of establishing a 'Digital Asset Reserve' to hold seized or forfeited digital assets, including rules for administration and sale timing.

TIMELINE

A deadline was established for the State Bureau of Investigation to report its study findings and proposed legislation to the Joint Legislative Oversight Committee on General Government by March 1, 2026.

Floor votes · House Apr 30, 2025

How they voted

73–43

Passed · 5 other

Total votes 121

Apr 30, 2025

D Democratic46

2 Yea 41 Nay 3

89% Nay

I Independent2

1 Yea 1 Nay

50% Nay

R Republican73

70 Yea 1 Nay 2

95% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

May 1, 2025

Committee

Ref To Com On Rules and Operations of the Senate

upper

Apr 30, 2025

Lower · Passed

Passed 3rd Reading

lower

Apr 28, 2025

Lower · Passed

Reptd Fav

lower

Apr 16, 2025

Committee

Re-ref Com On Rules, Calendar, and Operations of the House

lower

Apr 16, 2025

Lower · Passed

Reptd Fav Com Sub 2

lower

Mar 5, 2025

Committee

Re-ref to the Com on Pensions and Retirement, if favorable, Rules, Calendar, and Operations of the House

lower

Mar 5, 2025

Committee

Serial Referral To Rules, Calendar, and Operations of the House Stricken

lower

Mar 5, 2025

Lower · Passed

Reptd Fav Com Substitute

lower

Feb 12, 2025

Committee

Ref to the Com on Commerce and Economic Development, if favorable, Rules, Calendar, and Operations of the House

lower

Feb 10, 2025

Introduced

Filed

lower

3 primary · 24 co-sponsors