Texas Rep. Ron Reynolds, a Democrat from Missouri City, filed House Bill 815 on Monday, the first day of prefiling for the 90th Texas Legislature, Bitcoin Magazine reported. The caption reads “Relating to the authority of a municipality or county to invest money in cryptocurrencies.” The bill is only filed and is not law.
According to Bitcoin Magazine, the bill adds Section 2256.0165 to the Public Funds Investment Act, stating that a city or county “may invest not more than $10 million of its money or money under its control.” The cap applies to each locality separately, not to a statewide pool. School districts and other local governments covered by the act are excluded.
The bill borrows its definitions of Bitcoin and cryptocurrency from Section 403.701 of the Government Code, so localities would not be limited to bitcoin, Bitcoin Magazine reported. It does not carry over the state reserve’s market-cap requirement or its custody rules, and it says nothing about audits or handling losses. Localities would still need to add crypto to written investment policies before buying.
Bitcoin Magazine described it as a narrower version of Reynolds’s 2025 HB 4258, which also proposed a $250 million state investment from the rainy-day fund and died in committee. HB 815 has not been referred to a committee. The regular session convenes January 12, 2027, and if enacted the authority would take effect September 1, 2027.
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