The Strategic Bitcoin Reserve Act is an Illinois state bill introduced as HB1844 in the 104th General Assembly. As of June 10, 2026, the measure remains a pending House bill: legislative tracking records it as introduced on Jan. 28, 2025, with the latest recorded sponsorship action on Feb. 19, 2025, and pending in the House Rules Committee. The bill has not been enacted and does not currently create an operative Illinois bitcoin reserve.
If enacted, HB1844 would create a special State treasury fund called the Strategic Bitcoin Reserve Fund. The proposed fund would be administered by the Illinois State Treasurer and used to hold bitcoin as a financial asset. The bill is structured around donated or transferred bitcoin rather than a direct state purchase mandate.
Key Provisions of Illinois HB1844
Strategic Bitcoin Reserve Fund
Section 15 would establish the Strategic Bitcoin Reserve Fund as a special fund in the State treasury. The bill states that the fund’s purpose would be to hold bitcoin as a financial asset. It would make the State Treasurer responsible for managing the fund and implementing storage, management, and reporting systems for assets held in it.
Donation and transfer framework
HB1844 would authorize the Treasurer to accept gifts, grants, donations, bequests, and devises of bitcoin from Illinois residents. It would also allow bitcoin from governmental entities to be deposited into the fund, subject to the bill’s management limits. A separate provision would address state agencies that accept cryptocurrency: those agencies would first convert the accepted cryptocurrency to bitcoin, if necessary, before transferring it to the Treasurer. The Treasurer would then adopt rules to compensate the agency in U.S. dollars for the bitcoin transferred.
Five-year holding period
The bill would require all bitcoin deposited into the fund to be held for at least five years from the date it enters state custody. After that period, the Treasurer could transfer, sell, appropriate, or convert bitcoin in the fund to another cryptocurrency. This provision is central to the reserve structure because it would limit near-term liquidation while preserving later discretion for the Treasurer.
Custody, Security, and Reporting
HB1844 would require the Treasurer to develop policies and protocols for secure storage and protection of bitcoin held in the fund. The text refers to secure custodial technologies, cold storage, best practices in digital asset management, and regular audits. It would also restrict transactions involving foreign countries, persons or entities outside Illinois, or persons or entities known to engage in illegal activities. The bill would allow the Treasurer to contract with a qualified, independent, United States-based third-party cryptocurrency entity to assist with the fund’s security administration.
The proposed reporting regime would require a biennial report to the General Assembly and publication on the Treasurer’s website. The report would cover the amount of bitcoin held, U.S. dollar value, fund growth, transactions or expenditures, security threats, and bitcoin eligible for transfer or conversion after the five-year period. The bill text specifies a first reporting date of Dec. 31, 2026, followed by reports every two years; because the bill is still pending, editors should re-check whether this deadline remains workable if the bill advances later.
Status and Legislative Timeline
Rep. John M. Cabello filed HB1844 with the Clerk on Jan. 28, 2025. The bill received first reading and was referred to the House Rules Committee on Jan. 29, 2025. LegiScan records Reps. William E. Hauter and Travis Weaver as co-sponsors and lists their sponsor additions on Feb. 19, 2025.
The bill states that it would take effect immediately upon becoming law. Because HB1844 has not passed the Illinois General Assembly and has not been signed by the governor, the proposed fund, holding period, donation process, and reporting requirements are not operative law as of June 10, 2026.
Jurisdictional Impact
For CryptoSlate’s legal-reference taxonomy, this profile should be treated as an Illinois state bill focused on government crypto holdings, custody controls, payments-related conversion mechanics, and public reporting. The bill is relevant to readers tracking state-level bitcoin reserve proposals, but it should not be described as creating an active reserve unless enacted.