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1 Implementation Plan for the State to Accept Cryptocurrencies as Payment for Taxes and Fees. The state treasurer, in consultation with the commissioner of the department of revenue administration and the commissioner of the department of administrative services, shall develop an implementation plan for the state to accept cryptocurrencies as payment for taxes and fees beginning July 1, 2020. The plan shall address any accounting, valuation, and management issues relative to the acceptance of cryptocurrency and shall identify an appropriate third party payment processor that will process cryptocurrency transactions at no cost to the state. On or before November 1, 2019, the state treasurer shall submit the plan to the governor, the speaker of the house of representatives, the senate president, the house clerk, the senate clerk, and the state library. Pursuant to any criteria or procedures established in the implementation plan, a state agency may accept payment in cryptocurrencies on or after July 1, 2020.
2 Effective Date. This act shall take effect 60 days after its passage.
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1 Implementation Plan for the State to Accept Cryptocurrencies as Payment for Taxes and Fees. The state treasurer, in consultation with the commissioner of the department of revenue administration and the commissioner of the department of administrative services, shall develop an implementation plan for the state to accept cryptocurrencies as payment for taxes and fees beginning July 1, 2020. The plan shall address any accounting, valuation, and management issues relative to the acceptance of cryptocurrency and shall identify an appropriate third party payment processor that will process cryptocurrency transactions at no cost to the state. On or before November 1, 2019, the state treasurer shall submit the plan to the governor, the speaker of the house of representatives, the senate president, the house clerk, the senate clerk, and the state library. Pursuant to any criteria or procedures established in the implementation plan, a state agency may accept payment in cryptocurrencies on or after July 1, 2020.
2 Effective Date. This act shall take effect 60 days after its passage.