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S3628
SENATE, No. 3628
STATE OF NEW JERSEY
222nd LEGISLATURE
�
INTRODUCED FEBRUARY 19, 2026
Sponsored by:
Senator� ANDREW ZWICKER
District 16 (Hunterdon, Mercer, Middlesex and Somerset)
SYNOPSIS
���� Prohibits public officials from accepting virtual
currency and non-fungible tokens as gifts.�
CURRENT VERSION OF TEXT
���� As introduced.
��
An Act
including virtual currency and NFTs in the definition
of gift as applicable to public officials and amending various parts of the
statutory law.
����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:
���� 1.��� Section 2 of P.L.1971,
c.182 (C.52:13D-13) is amended to read as follows:
���� 2.��� As used in this act, and
unless a different meaning clearly appears from the context, the following
terms shall have the following meanings:
���� a.���� "State
agency" means any of the principal departments in the Executive Branch of
the State Government, and any division, board, bureau, office, commission, or
other instrumentality within or created by such department, the Legislature of
the State, and any office, board, bureau, or commission within or created by
the Legislative Branch, and, to the extent consistent with law, any interstate
agency to which New Jersey is a party and any independent State authority,
commission, instrumentality, or agency.� A county or municipality shall not be
deemed an agency or instrumentality of the State.
���� b.��� "State officer or
employee" means any person, other than a special State officer or
employee: (1) holding an office or employment in a State agency, excluding an
interstate agency, other than a member of the Legislature; or (2) appointed as
a New Jersey member to an interstate agency.
���� c.���� "Member of the
Legislature" means any person elected to serve in the General Assembly or
the Senate.
���� d.��� "Head of a State
agency" means: (1) in the case of the Executive Branch of government,
except with respect to interstate agencies, the department head or, if the
agency is not assigned to a department, the Governor; and (2) in the case of
the Legislative Branch, the chief presiding officer of each House of the
Legislature.
���� e.���� "Special State
officer or employee" means: (1) any person holding an office or employment
in a State agency, excluding an interstate agency, for which office or
employment no compensation is authorized or provided by law, or no compensation
other than a sum in reimbursement of expenses, whether payable per diem or per
annum, is authorized or provided by law; (2) any person, not a member of the
Legislature, holding a part-time elective or appointive office or employment in
a State agency, excluding an interstate agency; or (3) any person appointed as
a New Jersey member to an interstate agency the duties of which membership are
not full-time.
���� f.���� "Person"
means any natural person, association or corporation.
���� g.��� "Interest"
means: (1) the ownership or control of more than 10 percent of the profits or
assets of a firm, association, or partnership, or more than 10 percent of the
stock in a corporation for profit other than a professional service corporation
organized under the "Professional Service Corporation Act," P.L.1969,
c.232 (C.14A:17-1 et seq.); or (2) the ownership or control of more than one
percent of the profits of a firm, association, or partnership, or more than one
percent of the stock in any corporation, (a) which is the holder of, or an
applicant for, a casino license or in any holding or intermediary company with
respect thereto, as defined by the "Casino Control Act," P.L.1977,
c.110 (C.5:12-1 et seq.), (b) which is the holder of, or an applicant for, a
medical cannabis cultivator, medical cannabis manufacturer, medical cannabis
dispensary, or clinical registrant permit issued pursuant to P.L.2009, c.307
(C.24:6I-1 et al.), or any holding or intermediary company with respect
thereto, or (c) which is the holder of, or an applicant for, a cannabis
cultivator, cannabis manufacturer, cannabis wholesaler, cannabis distributor,
cannabis retailer, or cannabis delivery service license issued pursuant to
P.L.2021, c.16 (C.24:6I-31 et al.), or which is an entity that employs or uses
a certified personal use cannabis handler to perform work for or on behalf of a
licensed cannabis establishment, distributor, or delivery service, or any
holding or intermediary company with respect thereto.� The provisions of this act
governing the conduct of individuals are applicable to shareholders, associates
or professional employees of a professional service corporation regardless of
the extent or amount of their shareholder interest in such a corporation.
���� h.��� "Cause, proceeding,
application or other matter" means a specific cause, proceeding or matter
and does not mean or include determinations of general applicability or the
preparation or review of legislation which is no longer pending before the
Legislature or the Governor.
���� i.���� "Member of the
immediate family" of any person means the person's spouse, domestic
partner, civil union partner, child, parent, or sibling residing in the same
household.
����
j.� �Gift� shall include
any form of virtual currency and non-fungible tokens (NFTs).
(cf: P.L.2021, c.16, s.12)
���� 2.��� Section 3 of P.L.1991,
c.29 (C.40A:9-22.3) is amended to read as follows:
���� 3.��� As used in this act:
���� a.���� "Board" means
the Local Finance Board in the Division of Local Government Services in the
Department of Community Affairs;
���� b.��� "Business
organization" means any corporation, partnership, firm, enterprise,
franchise, association, trust, sole proprietorship, union or other legal
entity;
���� c.���� "Governing
body" means, in the case of a municipality, the commission, council, board
or body, by whatever name it may be known, having charge of the finances of the
municipality, and, in the case of a county, the board of chosen freeholders, or,
in the case of a county having adopted the provisions of the "Optional
County Charter Law," P.L.1972, c.154 (C.40:41A-1 et seq.), as defined in
the form of government adopted by the county under that act;
���� d.��� "Interest"
means the ownership or control of more than 10% of the profits, assets or stock
of a business organization but shall not include the control of assets in a
nonprofit entity or labor union;
���� e.���� "Local government
agency" means any agency, board, governing body, including the chief
executive officer, bureau, division, office, commission or other
instrumentality within a county or municipality, and any independent local
authority, including any entity created by more than one county or
municipality, which performs functions other than of a purely advisory nature,
but shall not include a school board;
���� f.���� "Local government
employee" means any person, whether compensated or not, whether part-time
or full-time, employed by or serving on a local government agency who is not a
local government officer, but shall not mean any employee of a school district;
���� g.��� "Local government
officer" means any person whether compensated or not, whether part-time or
full-time:� (1) elected to any office of a local government agency; (2) serving
on a local government agency which has the authority to enact ordinances,
approve development applications or grant zoning variances; (3) who is a member
of an independent municipal, county or regional authority; or (4) who is a
managerial executive employee of a local government agency, as defined in rules
and regulations adopted by the Director of the Division of Local Government
Services in the Department of Community Affairs pursuant to the
"Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.),
but shall not mean any employee of a school district or member of a school
board;
���� h.��� "Local government
officer or employee" means a local government officer or a local
government employee;
���� i.���� "Member of
immediate family" means the spouse or dependent child of a local
government officer or employee residing in the same household.
����
j.� �Gift� shall include
any form of virtual currency and non-fungible tokens (NFTs).
(cf: P.L.2015, c.95, s.21)
���� 3.��� Section 3 of P.L.1991,
c.393 (C.18A:12-23) is amended to read as follows:
���� 3.��� For the purposes of this
act, unless the context clearly requires a different meaning:�
���� "Administrator"
means any officer, other than a board member, or employee of a local school
district who (i) holds a position which requires a certificate that authorizes
the holder to serve as school administrator, principal, or school business
administrator; or (ii) holds a position which does not require that the person
hold any type of certificate but is responsible for making recommendations
regarding hiring or the purchase or acquisition of any property or services by
the local school district; or (iii) holds a position which requires a
certificate that authorizes the holder to serve as supervisor and who is
responsible for making recommendations regarding hiring or the purchase or
acquisition of any property or services by the local school district;�
���� "Board member" means
any person holding membership, whether by election or appointment, on any board
of education other than the State Board of Education;�
���� "Business" means any
corporation, partnership, firm, enterprise, franchise, association, trust, sole
proprietorship, union, political organization, or other legal entity but shall
not include a local school district or any other public entity;�
���� �"Commission" means
the School Ethics Commission established pursuant to section 7 of this act;�
���� "Commissioner" means
the Commissioner of Education;
���� "Interest" means the
ownership or control of more than 10% of the profits, assets, or stock of a
business but shall not include the control of assets in a labor union;�
���� "Local school
district" means any local or regional school district established pursuant
to chapter 8 or chapter 13 of Title 18A of the New Jersey Statutes and any
jointure commission, county vocational school, county special services
district, educational services commission, educational research and
demonstration center, environmental education center, and educational
information and resource center;�
���� "Member of immediate
family" means the spouse or dependent child of a school official residing
in the same household;�
���� "Political
organization" means a "political committee" or a
"continuing political committee" as those terms are defined in
"The New Jersey Campaign Contributions and Expenditures Reporting
Act," P.L.1973, c.83 (C.19:44A-1 et seq.);�
���� "Relative" means the
spouse, natural or adopted child, parent, or sibling of a school official;�
���� "School official"
means a board member, an employee or officer of the New Jersey School Boards
Association, but not including any member of the secretarial, clerical or
maintenance staff of the association, or an administrator; and�
���� "Spouse" means the
person to whom a school official is legally married under New Jersey law.�
����
�Gift� shall include any
form of virtual currency and non-fungible tokens (NFTs).
(cf: P.L.1995, c.14, s.1)
���� 4.��� This act shall take
effect immediately.
STATEMENT
���� This bill amends definitions
to provide that a gift includes all forms of virtual currency and non-fungible
tokens (NFTs).� Under this bill, a public official would be prohibited from
accepting any form of virtual currency or NFTs as a gift.