Texas Representative Ron Reynolds has introduced House Bill 815, which proposes allowing municipalities and counties to invest up to $10 million of public funds in bitcoin or other cryptocurrencies. The bill was filed on the first day of prefiling for the 90th Texas Legislature.
If enacted, the legislation would amend the Public Funds Investment Act by adding a specific section for cryptocurrency investments. The authority to invest would take effect on September 1, 2027. The $10 million limit applies individually to each city or county, excluding school districts.
The proposed bill does not establish specific requirements for cold storage, custody, or auditing of digital assets. Local governments would be required to incorporate cryptocurrency into their existing written investment policies, which must prioritize safety of principal and liquidity.
This legislative effort follows previous attempts to integrate digital assets into state finances. In 2025, a broader bill was introduced but failed to pass. Separately, the state established a strategic bitcoin reserve, which has already acquired exposure to bitcoin through investment products.
