SB 443 — AN ACT ESTABLISHING THE CONNECTICUT BLOCKCHAIN WORKING GROUP.

AN ACT CONCERNINGESTABLISHING THE CONNECTICUT BLOCKCHAIN TECHNOLOGY.WORKING GROUP.

General Assembly   RaisedSubstitute Bill No.

443 February Session, 2018   LCO*_____SB00443CE____032718____* No.AN ACT ESTABLISHING THE CONNECTICUT BLOCKCHAIN WORKING GROUP.

2182   *02182_______CE_* Referred to Committee on COMMERCE   Introduced by:

  (CE)   AN ACT CONCERNING BLOCKCHAIN TECHNOLOGY.

(Effective from passage) (a) The DepartmentCommissioner of Economic and Community Development shall conductconvene a studyConnecticut relatingBlockchain Working Group to alldevelop facetsa master plan for fostering the expansion and growth of the blockchain industry in the state and recommend policies and state investments to make Connecticut the world leader in blockchain technology.

NotSuch latermaster thanplan Januaryshall: 1, 2019, the department shall submit a report of the results of such study to the joint standing committee of the General Assembly having cognizance of matters relating to commerce, in accordance with the provisions of section 11-4a of the general statutes.

(1) Identify the pros and cons of developing the blockchain industry resulting from existing and emergent conditions;

(2) assess the scope and scale of the existing blockchain industry in the state and recommend initiatives that would strengthen such industry;

(3) review workforce needs and academic programs required to build blockchain expertise across all relevant industries;

and (4) study and make recommendations regarding tax code changes, appropriations, bond authorizations, administrative and organizational actions and related activities that would encourage the expansion and growth of the state's blockchain industry.

(b) The working group shall consist of (1) not fewer than five individuals appointed by the commissioner, each of whom shall have expertise in blockchain technology or represent an industry that could benefit from blockchain technology;

and (2) two members appointed by the president of The University of Connecticut.

(c) All appointments to the working group shall be made not later than thirty days after the effective date of this section.

Any vacancy shall be filled by the appointing authority.

(d) The commissioner shall appoint the chairperson of the working group from among the members of the working group.

Such chairperson shall schedule the first meeting of the working group, which shall be held not later than July 1, 2018.

The working group shall meet at such other times as the chairperson deems necessary.

(e) Not later than January 1, 2019, the working group shall submit a report on its findings and recommendations to the joint standing committee of the General Assembly having cognizance of matters relating to commerce, in accordance with the provisions of section 11-4a of the general statutes.

The working group shall terminate on the date that it submits such report or January 1, 2019, whichever is later.

Sec.

2.

(Effective July 1, 2018) The sum of two hundred thousand dollars is appropriated to the Department of Economic and Community Development, from the General Fund, for the fiscal year ending June 30, 2019, for purposes of developing a master plan for fostering the expansion and growth of the blockchain industry pursuant to section 1 of this act.

Section 1 from passage New section StatementSec. of Purpose:

To2 requireJuly the1, Department2018 ofNew Economicsection andCE CommunityJoint DevelopmentFavorable toSubst. study blockchain technology.

[Proposed deletions are enclosed in brackets.

Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]