Retirement Systems; creating the Strategic Pension Protection Act. Effective date.

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SENATE FLOOR VERSION
February 16, 2026
AS AMENDED

SENATE BILL NO. 1985 By: Guthrie and Jett of the
Senate

and

Maynard of the House

An Act relating to retirement systems; creating the
Strategic Pension Protection Act; providing short
title; defining terms; authorizing the investment of
state retirement funds in certain digital assets;
limiting amount of funds to be invested; providing
for noncodification; providing for codification; and
providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law not to be
codified in the Oklahoma Statutes reads as follows:
This act shall be known and may be cited as the “Strategic
Pension Protection Act”.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2501 of Title 62, unless there
is created a duplication in numbering, reads as follows:
As used in this act:
1. “Bitcoin” means the decentralized digital currency launched
in 2009 based on Satoshi Nakamoto’s white paper titled “Bitcoin: A

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Peer-to-Peer Electronic Cash System”. Bitcoin also means the
digital asset that is the basis of the bitcoin exchange-traded
product and is regulated by the United States Securities and
Exchange Commission;
2. “Digital asset” means virtual currency, cryptocurrencies,
natively electronic assets, including stablecoins and non-fungible
tokens (NFTs), and other digital-only assets that confer economic,
proprietary, or access rights or powers;
3. “Exchange-traded product” (ETP) means any financial
instrument that is approved by the United States Securities and
Exchange Commission or the Commodity Futures Trading Commission, is
traded on an American-regulated exchange, and derives its value from
an underlying pool of assets such as stocks, bonds, commodities, or
indexes; and
4. “Stablecoin” means a digital asset that is issued by a
corporation backed by dollars or high-quality liquid assets and is
redeemable on demand by the holder at par for a fixed monetary value
in equivalent United States dollars.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2502 of Title 62, unless there
is created a duplication in numbering, reads as follows:
Any state retirement system may invest in digital assets in
exchange-traded products that have been duly registered by either
the United States Securities and Exchange Commission or the

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Commodity Futures Trading Commission. The amount of funds that may
be invested in bitcoin or any digital assets with a market cap of
over Five Hundred Billion Dollars ($500,000,000,000.00) averaged
over the previous calendar year and stablecoins may not, at the time
the investment is made, exceed five percent (5%) of the total amount
of funds in that account.
SECTION 4. This act shall become effective November 1, 2026.
COMMITTEE REPORT BY: COMMITTEE ON REVENUE AND TAXATION
February 16, 2026 - DO PASS AS AMENDED