HB1796
Corporations; creates a regulatory framework for decentralized autonomous organizations.
Status:
Passed
Latest Action:
April 2, 2025
House: Communicated to Governor
Chief Patron:
Dan Helmer (D)
Session:
2025 Regular Session
Summary
As Passed House of Origin. Corporations; decentralized autonomous organizations.
Creates a regulatory framework for decentralized autonomous organizations, defined in the bill as a distinct legal entity that operates through blockchain-based governance frameworks, incorporating self-executing smart contracts and decentralized decision-making mechanisms. The bill provides that an entity seeking to become a decentralized autonomous organization must file its articles of organization ... (More) with the State Corporation Commission in order to seek a certificate of organization and requires such articles of organization to designate an operator of record. The bill permits a limited liability company to elect to become a decentralized autonomous organization with management vested in its members or smart contracts and contains requirements for its articles of incorporation and operating agreements. The bill also contains provisions governing the relationships and rights of members of a decentralized autonomous organization and for the dissolution of a decentralized autonomous organization. The bill has a delayed effective date of July 1, 2026. (Less)-
Bill History
- 01/06/2025 - House: Prefiled and ordered printed; Offered 01-13-2025 25102358D
- 01/06/2025 - House: Referred to Committee on Communications, Technology and Innovation
- 01/16/2025 - House: Assigned CT & I sub: Technology and Innovation
- 01/20/2025 - House: Placed on Communications, Technology and Innovation Agenda
- 01/22/2025 - House: Fiscal Impact Statement from State Corporation Commission (HB1796)
- 01/22/2025 - House: Subcommittee recommends reporting with substitute and referring to Labor and Commerce (9-Y 0-N)
- 01/24/2025 - House: Placed on Communications, Technology and Innovation Agenda
- 01/27/2025 - House: Reported from Communications, Technology and Innovation with substitute (20-Y 2-N)
- 01/27/2025 - House: Committee substitute printed 25105480D-H1
- 01/29/2025 - House: Read first time
- 01/30/2025 - House: Read second time
- 01/30/2025 - House: Communications, Technology and Innovation Substitute agreed to
- 01/30/2025 - House: Engrossed by House - committee substitute
- 01/30/2025 - House: Fiscal Impact Statement from State Corporation Commission (HB1796)
- 01/31/2025 - House: Read third time and passed House (87-Y 8-N)
- 02/03/2025 - Senate: Constitutional reading dispensed (on 1st reading)
- 02/03/2025 - Senate: Referred to Committee on Commerce and Labor
- 02/10/2025 - Senate: Reported from Commerce and Labor with amendment and rereferred to Finance and Appropriations (11-Y 0-N 4-A)
- 02/10/2025 - Senate: Rereferred to Finance and Appropriations
- 02/17/2025 - Senate: Reported from Finance and Appropriations with amendment (14-Y 0-N)
- 02/19/2025 - Senate: Rules suspended
- 02/19/2025 - Senate: Constitutional reading dispensed (on 2nd reading) (40-Y 0-N)
- 02/19/2025 - Senate: Passed by for the day
- 02/20/2025 - Senate: Read third time
- 02/20/2025 - Senate: Reading of amendment waived
- 02/20/2025 - Senate: Commerce and Labor Amendment agreed to
- 02/20/2025 - Senate: Reading of amendment waived
- 02/20/2025 - Senate: Finance and Appropriations Amendment agreed to
- 02/20/2025 - Senate: Engrossed by Senate as amended
- 02/20/2025 - Senate: Defeated by Senate (17-Y 22-N) Close Floor Vote
- 02/20/2025 - Senate: Reconsideration of defeat agreed to by Senate (39-Y 0-N)
- 02/20/2025 - Senate: Defeated by Senate (19-Y 19-N 1-A), Chair Votes No Close Floor Vote
- 02/20/2025 - Senate: Reconsideration of defeat agreed to by Senate (39-Y 0-N)
- 02/20/2025 - Senate: Passed by temporarily
- 02/20/2025 - Senate: Passed Senate with amendments (20-Y 19-N) Close Floor Vote
- 02/20/2025 - House: Senate Amendments agreed to by House (85-Y 10-N)
- 03/07/2025 - House: Enrolled
- 03/07/2025 - House: Bill text as passed House and Senate (HB1796ER)
- 03/07/2025 - House: Signed by Speaker
- 03/07/2025 - House: Enrolled
- 03/10/2025 - Senate: Signed by President
- 03/11/2025 - House: Enrolled Bill communicated to Governor on March 11, 2025
- 03/11/2025 - Governor's Action Deadline 11:59 p.m., March 24, 2025
- 03/24/2025 - Governor's recommendation received by House
- 03/24/2025 - Governor's Recommendation
- 03/24/2025 - House: Governor's substitute printed (HB1796H2)
- 04/02/2025 - House: House rejected Governor's recommendation (28-Y 68-N)
- 04/02/2025 - House: Communicated to Governor
