PANews reported on April 2nd that according to Bitcoin Magazine, House Bill 4258 (H.B. 4258) was submitted to the Government Efficiency Committee for review today. The bill authorizes the state auditor to invest up to $250 million in Bit, and also authorizes municipal or county authorities to invest up to $10 million of their funds or funds under their control in Bit and/or other cryptocurrencies. If the bill becomes law, it will take effect on September 1, 2025, providing time for state and local government officials to develop investment strategies and custody plans.

According to HT Laws, H.B. 4258 is one of eight currently active Bit or cryptocurrency-related bills submitted to the Texas Senate or House of Representatives. Among these eight bills, it is the fifth bill to enter the committee review stage. Four of these bills (including the current one) will authorize the state to incorporate Bit into its balance sheet in some way. Three other bills—H.B. 1598, Senate Bill (S.B.) 21, and S.B. 778—all call for Texas to establish a Strategic Bit Reserve (SBR). These three SBR bills have entered the committee review stage, with S.B. 21 currently in the second round of committee review.