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EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
[Brackets] indicate matter deleted from existing law.
*hb0051*
HOUSE BILL 51
E2, B1 6lr1209
(PRE–FILED)
By: Delegate Taveras
Requested: October 15, 2025
Introduced and read first time: January 14, 2026
Assigned to: Economic Matters
A BILL ENTITLED
AN ACT concerning 1
Strategic Digital Asset Reserve Act of Maryland 2
FOR the purpose of establishing the Maryland Digital Asset Reserve Fund as a special, 3
nonlapsing fund to serve as a reserve asset for the State through the investment of 4
crytocurrency; authorizing the State Treasurer to invest the funds obtained by the 5
State through the enforcement of certain gambling violations in to cryptocurrency; 6
and generally relating to the investment of State funds in cryptocurrency. 7
BY repealing and reenacting, without amendments, 8
Article – Criminal Procedure 9
Section 13–101 and 13–102 10
Annotated Code of Maryland 11
(2025 Replacement Volume) 12
BY repealing and reenacting, with amendments, 13
Article – Criminal Procedure 14
Section 13–104 15
Annotated Code of Maryland 16
(2025 Replacement Volume) 17
BY repealing and reenacting, without amendments, 18
Article – State Finance and Procurement 19
Section 6–226(a)(2)(i) and (ii) 20
Annotated Code of Maryland 21
(2021 Replacement Volume and 2025 Supplement) 22
BY repealing and reenacting, with amendments, 23
Article – State Finance and Procurement 24
Section 6–226(a)(2)(iii)212. and 213. 25
Annotated Code of Maryland 26
2 HOUSE BILL 51
(2021 Replacement Volume and 2025 Supplement) 1
BY adding to 2
Article – State Finance and Procurement 3
Section 6–226(a)(2)(iii)214. and 7–332 4
Annotated Code of Maryland 5
(2021 Replacement Volume and 2025 Supplement) 6
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 7
That the Laws of Maryland read as follows: 8
Article – Criminal Procedure 9
13–101. 10
(a) In this subtitle the following words have the meanings indicated. 11
(b) “Final disposition” includes an acquittal, dismissal, nolle prosequi, finding of 12
guilty, probation before judgment, plea of guilty or of nolo contendere, marking the charge 13
“stet” on the docket, and an order of an appellate court ending a criminal case. 14
(c) “Financial authority” means: 15
(1) if the seizing authority is the State, the State Treasurer; 16
(2) if the seizing authority is a unit of a county, the treasurer or director of 17
finance of that county; or 18
(3) if the seizing authority is a unit of a municipal corporation, the 19
treasurer or director of finance of that municipal corporation. 20
13–102. 21
(a) Money is prima facie contraband if a law enforcement officer in the State 22
seizes the money in connection with an arrest for: 23
(1) unlawfully playing or operating a bookmaking scheme; 24
(2) unlawfully betting on a horse race, athletic event, lottery, or game; or 25
(3) using an unlawful gaming table or gaming device. 26
(b) (1) For purposes of this subsection, the Police Department of Baltimore 27
City is not a State authority. 28
(2) All rights in, title to, and interest in money seized under subsection (a) 29
of this section shall immediately vest in and to: 30
HOUSE BILL 51 3
(i) the county or the municipal corporation, if the money is seized by 1
the police of the local government, including a sheriff’s department that is the local law 2
enforcement unit; or 3
(ii) the State, if the money is seized by a State authority. 4
13–104. 5
(A) [Pending] SUBJECT TO SUBSECTION (B) OF THIS SECTION , PENDING A 6
final disposition, the financial authority shall account for and deposit seized money in an 7
interest–bearing bank account or invest the seized money in accordance with Title 17 of the 8
Local Government Article. 9
(B) IF THE SEIZING AUTHOR ITY IS THE STATE, THE STATE TREASURER 10
SHALL: 11
(1) DEPOSIT SEIZED MONEY INTO THE MARYLAND DIGITAL ASSET 12
RESERVE FUND ESTABLISHED UNDE R § 7–332 OF THE STATE FINANCE AND 13
PROCUREMENT ARTICLE; AND 14
(2) RETAIN IN THE MARYLAND DIGITAL ASSET RESERVE FUND ANY 15
SEIZED MONEY THAT IS FORFEITED TO THE STATE IN ACCORDANCE W ITH THIS 16
SUBTITLE. 17
Article – State Finance and Procurement 18
6–226. 19
(a) (2) (i) This paragraph does not apply in fiscal years 2024 through 2028. 20
(ii) Notwithstanding any other provision of law, and unless 21
inconsistent with a federal law, grant agreement, or other federal requirement or with the 22
terms of a gift or settlement agreement, net intere st on all State money allocated by the 23
State Treasurer under this section to special funds or accounts, and otherwise entitled to 24
receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 25
Fund of the State. 26
(iii) The p rovisions of subparagraph (i i) of this paragraph do not 27
apply to the following funds: 28
212. the Department of Social and Economic Mobility Special 29
Fund; [and] 30
213. the Population Health Improvement Fund; AND 31
4 HOUSE BILL 51
214. THE MARYLAND DIGITAL ASSET RESERVE FUND. 1
7–332. 2
(A) (1) IN THIS SECTION THE F OLLOWING WORDS HAVE THE MEANINGS 3
INDICATED. 4
(2) “CRYPTOCURRENCY” MEANS A DECENTRALIZE D DIGITAL ASSET 5
THAT UTILIZES A BLOCKCHAIN LEDGER THAT: 6
(I) IS SECURED BY CRYPTOGRAPHIC TECHNOLOGY; AND 7
(II) HAS A MARKET CAPITALIZATIO N OF NO T LESS THAN 8
$500,000,000,000. 9
(3) “FUND” MEANS THE MARYLAND DIGITAL ASSET RESERVE FUND 10
ESTABLISHED UNDER THIS SECTION. 11
(B) (1) THERE IS A MARYLAND DIGITAL ASSET RESERVE FUND. 12
(2) THE PURPOSE OF THE FUND IS TO: 13
(I) RETAIN MONEY SEIZED AND FORFEITED TO THE STATE 14
UNDER § 13–104 OF THE CRIMINAL PROCEDURE ARTICLE; AND 15
(II) SERVE AS A RESERVE A SSET FOR THE STATE THROUGH 16
INVESTMENT IN CRYPTOCURRENCY. 17
(3) THE STATE TREASURER SHALL ADMINISTER THE FUND. 18
(4) (I) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 19
SUBJECT TO § 7–302 OF THIS SUBTITLE. 20
(II) SUBJECT TO SUBSECTION (G) OF THIS SECTION, THE STATE 21
TREASURER SHALL HOLD THE FUND SEPARATELY, AND THE COMPTROLLER SHALL 22
ACCOUNT FOR THE FUND. 23
(C) THE FUND CONSISTS OF: 24
(1) REVENUE DISTRIBUTED TO THE FUND UNDER § 13–104 OF THE 25
CRIMINAL PROCEDURE ARTICLE; 26
(2) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND; 27
HOUSE BILL 51 5
(3) INTEREST EARNINGS; AND 1
(4) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 2
THE BENEFIT OF THE FUND. 3
(D) THE FUND MAY BE USED ONLY TO INVEST IN CRYPTOCURRENCY. 4
(E) (1) THE STATE TREASURER SHALL INVEST THE MONEY OF THE FUND 5
IN THE SAME MANNER AS OTHER STATE MONEY MAY BE INVESTED. 6
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITED TO 7
THE FUND. 8
(F) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 9
WITH THE STATE BUDGET. 10
(G) CRYPTOCURRENCY ACQUIRED AS AN INVES TMENT UNDER THIS 11
SECTION SHALL BE HELD BY: 12
(1) THE STATE TREASURER THROUGH A SECURE PLATFORM THAT IS 13
SPECIFICALLY CREATED TO STORE, MANAGE, AND SAFEGUARD DIGITAL ASSETS FOR 14
INSTITUTIONS; OR 15
(2) A QUALIFIED CUSTODIA N AS DETERMINED BY T HE STATE 16
TREASURER. 17
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shal l take effect 18
October 1, 2026. 19