COMMUNITY BITCOIN RESERVE

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB3743

Introduced 2/5/2026, by Sen. Emil Jones, III

SYNOPSIS AS INTRODUCED:

New Act

Creates the Community Bitcoin Reserve Act. Contains findings and
purpose provisions. Establishes the Community Bitcoin Reserve Program
within the Department of Commerce and Economic Opportunity. Provides that
the Altgeld Bitcoin Reserve is designated as the first community reserve
site, and additional participating communities may be approved by the
Department of Commerce and Economic Opportunity. Provides that the State
may acquire Bitcoin for the Community Bitcoin Reserve if the acquisition
is authorized by the General Assembly and conducted in a budget-neutral
manner. Requires all Bitcoin held under the Act to be secured using
multisignature cold-storage custody requiring a minimum threshold of
approvals. Sets forth further provisions concerning the custody structure
of the Bitcoin; transparency and proof-of-reserve reports; community
governance; the administration of community programs; the annual program
release schedule; tax treatment; restrictions; the sale or transfer of
Bitcoin held under the Act; the acceptance of Bitcoin donations; and
exemption from liability for the State. Effective immediately.
LRB104 19727 BAB 33177 b

A BILL FOR

SB3743
LRB104 19727 BAB 33177 b
1

AN ACT concerning regulation.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 1.
Short title.
This Act may be cited as the
5
Community Bitcoin Reserve Act.

6

Section 2.
Legislative findings.
The General Assembly
7
finds that:
8

(1) Bitcoin is a scarce digital asset with a fixed
9

supply of 21 million units and globally verifiable
10

issuance;
11

(2) Bitcoin's decentralization and predictable
12

issuance schedule support long-term saving and ownership;
13

(3) Many Illinois communities have faced historic
14

barriers to asset ownership and long-horizon financial
15

planning;
16

(4) Community-held Bitcoin reserves, combined with
17

education and transparent governance, strengthen financial
18

resilience;
19

(5) In 2025, the Illinois House adopted House
20

Resolution 446 recognizing the Altgeld Bitcoin Reserve as
21

the first community-run Bitcoin reserve in the United
22

States;
23

(6) Multisignature custody, cold storage, and

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LRB104 19727 BAB 33177 b
1

independent auditing are essential to maintaining public
2

trust; and
3

(7) A disciplined, long-term Bitcoin savings model may
4

improve generational outcomes in historically underserved
5

communities.

6

Section 4.
Purpose.
The purpose of this Act is to:
7

(1) Establish a first-in-the-nation Community Bitcoin
8

Reserve Program in Illinois;
9

(2) Recognize the Altgeld Bitcoin Reserve in Altgeld
10

Gardens as the inaugural community reserve site;
11

(3) Demonstrate a long-term, deflationary community
12

savings and stewardship model addressing systemic
13

financial exclusion;
14

(4) Support financial literacy, youth mentorship, and
15

local economic resilience;
16

(5) Provide a secure and transparent framework for
17

community-held Bitcoin using multisignature cold-storage
18

custody;
19

(6) Enable responsible expansion to additional
20

communities under uniform statewide guardrails; and
21

(7) Clarify that this Act establishes a savings and
22

stewardship framework, not a speculative, trading, or
23

investment program.

24

Section 5.
Definitions.
As used in this Act:

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LRB104 19727 BAB 33177 b
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"ABR" means the Altgeld Bitcoin Reserve.
2

"ABR Foundation" means the nonprofit entity that
3
administers community programs funded by authorized reserve
4
releases.
5

"ABR Wealth Fund DAO LLC" means a Wyoming-registered
6
limited liability company acting as a designated
7
administrative and fiduciary agent under this Act, authorized
8
to coordinate multisignature custody, transparency procedures,
9
audit compliance, and reporting for the Community Bitcoin
10
Reserve, but not acting as a State entity and not as the owner
11
of Bitcoin held under this Act.
12

"Bitcoin" means a decentralized digital asset secured
13
through proof-of-work cryptography, recorded on a public,
14
immutable blockchain, with a fixed supply of 21 million units.
15

"Cold storage" means an offline method of securely storing
16
private keys using hardware devices, physical key materials,
17
or other disconnected mediums.
18

"Community Bitcoin Reserve" means Bitcoin held in
19
multisignature cold-storage custody for the benefit of a
20
participating community under this Act.
21

"Community-designated keyholder" means a trusted
22
individual or entity formally designated by a participating
23
community to represent community interests within the
24
multisignature custody structure.
25

"Custodian" means a regulated digital-asset custodian or
26
trust company authorized to securely hold assets for public

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LRB104 19727 BAB 33177 b
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bodies or nonprofit entities.
2

"Department" means the Department of Commerce and Economic
3
Opportunity.
4

"Multisignature wallet" means a cryptographic wallet
5
requiring multiple independent private keys to authorize a
6
transaction.
7

"Neutral third-party keyholder" means an individual or
8
entity independent of the community, the administrative agent,
9
and the custodian, responsible for holding one multisignature
10
key.
11

"Proof-of-reserve" means cryptographic or audited
12
verification demonstrating that Bitcoin reserves are fully
13
backed and unencumbered.
14

"Program release" means the authorized annual transfer of
15
Bitcoin for community programs as described in Section 50.

16

Section 10.
Establishment of the program.
17

(a) The Community Bitcoin Reserve Program is established
18
within the Department.
19

(b) The Altgeld Bitcoin Reserve is designated as the first
20
community reserve site.
21

(c) Additional participating communities may be approved
22
by the Department, subject to criteria and oversight
23
established by this Act.
24

(d) The State of Illinois may acquire Bitcoin for the
25
Community Bitcoin Reserve if the acquisition is authorized by

SB3743
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LRB104 19727 BAB 33177 b
1
the General Assembly and conducted in a budget-neutral manner.
2
Nothing in this Act shall be construed to require the
3
appropriation of new State funds or to create a debt, deficit,
4
or contingent liability of the State.
5

(e) Any acquisition of Bitcoin by the State under this
6
Section shall occur only through budget-neutral mechanisms,
7
including, but not limited to:
8

(1) reallocation of existing program surpluses or
9

unspent balances;
10

(2) use of fee-generated or self-funded accounts not
11

derived from general revenue;
12

(3) public-private partnerships, matching funds, or
13

sponsorship arrangements;
14

(4) grants, rebates, or settlement proceeds designated
15

for financial innovation or economic development; or
16

(5) other mechanisms expressly determined by the
17

General Assembly to be fiscally neutral.

18

Section 15.
Custody structure.
19

(a) All Bitcoin held under this Act shall be secured using
20
multisignature cold-storage custody requiring a minimum
21
threshold of approvals.
22

(b) The multisignature configuration, including the number
23
of keys and approval threshold, shall be determined by the
24
Department for each participating community, based on reserve
25
size, risk profile, and governance capacity, and shall comply

SB3743
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LRB104 19727 BAB 33177 b
1
with the requirements of this Act.
2

(c) At least one multisignature key shall be held by a
3
community-designated keyholder representing the participating
4
community.
5

(d) Additional multisignature keys may be held by:
6

(1) ABR Wealth Fund DAO LLC, acting solely as an
7

administrative and fiduciary agent;
8

(2) a State-approved regulated custodian; or
9

(3) a neutral third-party keyholder.
10

(e) No multisignature configuration may permit unilateral
11
control by any single entity.
12

(f) All custody actions shall be logged, independently
13
audited, and included in public reports.
14

(g) The Office of the Comptroller shall review and confirm
15
all Bitcoin acquisitions under this Act.
16

(h) ABR Wealth Fund DAO LLC shall not be deemed the owner
17
of Bitcoin held under this Act.

18

Section 20.
Transparency and proof-of-reserve.
19

(a) Quarterly proof-of-reserve reports are required.
20

(b) Annual independent audits of multisignature custody
21
are required.
22

(c) All reports shall be submitted to the Comptroller for
23
public posting.
24

(d) Private keys shall never be publicly disclosed.

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LRB104 19727 BAB 33177 b
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Section 25.
Community governance.
ABR Wealth Fund DAO LLC,
2
acting as the designated agent under this Act, shall oversee:
3

(1) multisignature administration;
4

(2) custody procedures;
5

(3) transparency protocols;
6

(4) audit compliance; and
7

(5) coordination of authorized program releases.

8

Section 30.
Administration of programs.
9

(a) The ABR Foundation may administer community programs
10
funded by authorized reserve releases.
11

(b) The ABR Foundation shall not have custody of the
12
Bitcoin.
13

(c) Annual program expenditures shall be documented,
14
auditable, included in Internal Revenue Form 990 filings, and
15
published in public reports.
16

(d) No officer, board member, or representative may
17
receive improper personal or financial benefit from program
18
releases beyond lawful compensation for services rendered.

19

Section 35.
Annual program release schedule.
20

(a) Bitcoin held under this Act must remain in
21
multisignature cold-storage custody for a minimum of 5 years
22
from the date of acquisition.
23

(b) Beginning in the 6th year following acquisition,
24
limited annual Bitcoin releases may occur solely for

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LRB104 19727 BAB 33177 b
1
authorized community programs, subject to all audit,
2
transparency, and reporting requirements under this Act.
3

Any such release shall be limited to a maximum of 0.21
4
Bitcoin per year, which shall constitute no more than 1% of the
5
total Bitcoin held in the Community Bitcoin Reserve at the
6
time of release.
7

(c) All Bitcoin released under this Section must be
8
applied to programmatic use and shall be administered through
9
the ABR Foundation or another authorized program administrator
10
in accordance with Section 45.
11

Released funds shall support existing community programs
12
and community development initiatives and may serve as an
13
umbrella funding mechanism for such programs as the Community
14
Bitcoin Reserve matures, so long as all uses remain consistent
15
with the purposes of this Act.
16

(d) The annual program release authorized under this
17
Section is a maximum cap, not a guaranteed distribution, and
18
may occur only if the release does not impair the long-term
19
stewardship or solvency of the Community Bitcoin Reserve.
20

(e) No fractional, accelerated, cumulative, or additional
21
Bitcoin releases beyond the annual limit set forth in this
22
Section may occur without authorization by a future Act of the
23
General Assembly.

24

Section 40.
Tax treatment.
Transfers of Bitcoin from the
25
reserve to the ABR Foundation for authorized uses shall not

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LRB104 19727 BAB 33177 b
1
constitute a taxable event under Illinois State tax law, to
2
the extent permitted by law.

3

Section 45.
Restrictions.
Bitcoin held under this Act may
4
not be traded, loaned, leveraged, pledged as collateral, or
5
used in speculative, derivative, or yield-generating activity.

6

Section 50.
Sale or transfer.
Bitcoin held under this Act
7
may not be sold, liquidated, or transferred, except by a
8
future Act of the General Assembly.

9

Section 55.
Acceptance of donations.
ABR Wealth Fund DAO
10
LLC, the ABR Foundation, and the State of Illinois may accept
11
Bitcoin donations designated for the Community Bitcoin Reserve
12
Program.

13

Section 60.
No State liability.
The State of Illinois is
14
not liable for losses resulting from custodian failure,
15
third-party misconduct, or cybersecurity incidents outside the
16
responsibilities defined in this Act.

17

Section 97.
Severability.
The provisions of this Act are
18
severable under Section 1.31 of the Statute on Statutes.

19

Section 99.
Effective date.
This Act takes effect upon
20
becoming law.

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