Alabama 2023 Regular Session Status: In Committee 1 R cosponsors

HB 408 — Relating to the Uniform Commercial Code; to amend Section 7-1-201, to provide a definition for "central bank digital currency;" and to specify that the definition of "money" does not include central bank digital currency.

Last action — Read First Time in House of Origin

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Uniform Commercial Code, provided that the term "money" does not include a central bank digital currency

Bill Text

How this bill changes current law

2 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill explicitly excludes central bank digital currency from the definition of money in the Uniform Commercial Code.

  • Section 7-1-201

    The term does not include a central bank digital currency. → The term does not include a central bank digital currency.

    This clarifies that 'money' does not encompass central bank digital currencies.

  • Section 7-1-201

    "Central bank digital currency" means a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System, a federal agency, a foreign government, a foreign central bank, or a foreign reserve system, which is made directly available to a consumer by such entities, or which is processed or validated directly by such entities.

    This adds a specific definition for 'central bank digital currency' to the Uniform Commercial Code.

Action History

  1. Introduced and Referred

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 139 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (139)

139 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
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Frequently asked questions

What does HB 408 do?
Uniform Commercial Code, provided that the term "money" does not include a central bank digital currency
Who sponsors HB 408?
HB 408 is sponsored by Ben Harrison (R).
What is the current status of HB 408?
This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 408?
Track HB 408 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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