Texas Governor Signs HB 4488 to Protect the State's Bitcoin Reserve Fund
Texas Governor Greg Abbott has officially signed House Bill 4488 (HB 4488), marking an important step in protecting the state government's special funds – including a potential Bitcoin reserve fund – from being incorporated into the general budget revenue.
According to Foresight News, HB 4488 clearly stipulates that special funds, including Bitcoin reserve funds created outside the state's traditional financial system, will be exempt from the automatic dissolution clause in 2025. This ensures that digital assets like Bitcoin can continue to be maintained and used as part of Texas's long-term financial strategy, without being bound by general budget regulations.
Although he has signed HB 4488, Governor Abbott has not yet made a final decision on Senate Bill 21 (SB21) – another important proposal that could pave the way for Texas to officially invest in Bitcoin and other digital assets with a minimum market capitalization of $500 billion or more. As of now, Bitcoin is the only asset that meets this condition.
SB21 was submitted to the Governor on June 1, and under Texas law, Greg Abbott has 20 days – until June 22 – to decide whether to sign or veto the bill, as this marks the end of the legislative session.
