SENATE BILL 113
54th legislature - STATE OF NEW MEXICO - second session, 2020
Gerald Ortiz y Pino
RELATING TO INFORMATION TECHNOLOGY; CREATING THE BLOCKCHAIN TECHNOLOGY TASK FORCE; PROVIDING DUTIES; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. TEMPORARY PROVISION--BLOCKCHAIN TECHNOLOGY TASK FORCE--DUTIES--REPORTING.--
A. As used in this section, "blockchain technology" means a digital ledger or database that uses a distributed, shared and replicated ledger, either public or private, with or without permission, where the data on the ledger is protected with cryptography and is immutable and auditable.
B. The secretary of information technology shall convene the "blockchain technology task force".
C. The task force shall consist of the following individuals or their designees:
(1) the secretary of information technology, who shall chair the task force;
(2) the secretary of economic development;
(3) the attorney general;
(4) the secretary of state;
(5) the secretary of workforce solutions;
(6) the secretary of general services;
(7) the secretary of health;
(8) the director of the financial institutions
division of the regulation and licensing department;
(9) the director of the securities division of the regulation and licensing department; and
(10) members appointed by the secretary of information technology, including at least one representative:
(a) from the banking industry;
(b) from a public post-secondary educational institution operating in the state with expertise in business and economics;
(c) from a labor organization;
(d) from a business actively engaged in the development or use of blockchain technology;
(e) from Los Alamos national laboratory;
(f) from Sandia national laboratories;
(g) with expertise in logistics management; and
(h) with expertise in any other relevant area as the secretary of information technology deems appropriate.
D. The task force shall examine the possible social and economic benefits and risks to the residents of the state associated with the use of blockchain technology in both the public and private sectors, including:
(1) the potential disruption to industries and the impact on the public sector workforce;
(2) the feasibility of using blockchain technology for managing government records or delivery of services;
(3) the advisability of creating limited exceptions to state securities laws to encourage the responsible development of blockchain-based funding tools for economic development;
(4) the advisability of amending laws to allow the use of blockchain technology in the transaction of business in the state, including contracting, business formation and governance, recordkeeping, reporting, asset transfer and security requirements;
(5) the current and potential impact on existing businesses and industries related to the use of blockchain technologies;
(6) the current and potential creation of new jobs and the displacement of existing jobs related to the use of blockchain technologies in both the public and private sectors; and
(7) any other related topic that the task force may choose to examine in relation to blockchain technology.
E. The task force shall report its findings and recommendations to the interim legislative committee dealing with economic and rural development issues by September 1, 2021.
F. Vacancies by members of the task force appointed by the secretary of information technology shall be filled by appointment by the secretary of information technology.
G. Task force members appointed by the secretary of information technology may receive per diem and mileage as provided for non-salaried public officers in the Per Diem and Mileage Act and shall receive no other compensation, perquisite or allowance.
H. The blockchain technology task force is terminated on October 1, 2021.
SECTION 2. APPROPRIATION.--Fifty thousand dollars ($50,000) is appropriated from the general fund to the department of information technology for expenditure in fiscal years 2020 through 2022 to pay expenses of the blockchain technology task force, including contractors, expert witnesses and other necessary expenses approved by the task force. Any unexpended or unencumbered balance remaining at the end of fiscal year 2022 shall revert to the general fund.
SECTION 3. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.
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