Texas Bill Proposes Allowing Cities and Counties to Invest $10 Million Each in Bitcoin

Texas State Representative Ron Reynolds has pre-filed House Bill 815, proposing to permit municipalities and counties to invest up to $10 million each of public funds into Bitcoin and other cryptocurrencies. The legislation amends the state's Public Funds Investment Act while explicitly excluding school districts. The proposal follows a previously failed measure, HB 4258, which sought a $250 million allocation from the state's Economic Stabilization Fund. If passed during the 90th Texas Legislature session starting January 12, 2027, the law would take effect September 1, 2027, leaving custody regulations and risk safeguards to local governments.