California2026Enacted
AB-1029
Requiring Public Officials to Report Digital Financial Assets
Last scannedAug 24, 2026, 7:05 AM
In one sentence
Starting January 1, 2027, this law requires public officials and designated employees to list digital financial assets worth $2,000 or more on their official disclosure forms.
What it does
- Expands the definition of 'investment' under the Political Reform Act of 1974 to include digital financial assets.
- Requires public officials to disclose ownership interests in these digital assets on periodic statements of economic interest.
- Mandates that agency conflict-of-interest codes require designated employees to report interests in digital financial assets.
- Applies the existing rule requiring a fair market value of $2,000 or more for an asset to be considered an investment.
Who it affects
- Public officials who file statements of economic interest under the Political Reform Act of 1974.
- Designated employees within public agencies subject to conflict-of-interest codes.
Limits and unknowns
- The law takes effect on January 1, 2027.
- Only digital financial assets with a fair market value of $2,000 or more must be reported as investments.
- No state reimbursement is required for local agencies to implement these changes.
Plain language
Terms to know
- Digital financial asset
- A digital representation of value used as a medium of exchange, unit of account, or store of value that is not legal tender.
- Statement of economic interest
- An official form where public officials list their investments, interests in real property, and income.
Official record
Sources
Official summary
Statements of financial interest: digital financial assets.
Official activity
Bill history
- Chaptered