Permit fee payment by cryptocurrency; cryptocurrency investments

SB 317 allows state and local government entities to accept cryptocurrency as payment for taxes, fees, and other expenses, provided the tax commissioner approves the specific digital currency. The bill also permits state colleges, universities, and public retirement systems to invest their funds in cryptocurrency, requiring these entities to follow standard fiduciary duties and diversification rules. Additionally, the legislation mandates that investment policies consider firms owned by minorities and women when selecting investment partners. By updating existing laws, the measure enables the use of blockchain technology for government transactions and expands investment options for public funds without changing the core responsibilities of financial trustees.