ASSEMBLY SCIENCE, INNOVATION AND TECHNOLOGY COMMITTEE

STATEMENT TO

ASSEMBLY, No. 3613

with committee amendments

STATE OF NEW JERSEY

DATED:  APRIL 26, 2018

      The Assembly Science, Innovation and Technology Committee reports favorably and with committee amendments Assembly Bill No. 3613.

      As amended and reported, this bill establishes in the Office of Information Technology the “New Jersey Blockchain Initiative Task Force” (task force). The purpose of the task force is to study if State, county, and municipal governments can benefit from a transition to a blockchain-based system for recordkeeping and service delivery.

     The task force is to be comprised of 14 members as follows:

     (1)   two members appointed by the Governor;

     (2)   two members appointed by the President of the Senate;

     (3)   two members appointed by the Speaker of the General Assembly;

     (4)   one member appointed by the Assembly Minority Leader;

     (5)   one member appointed by the Senate Minority Leader; and

     (6)   the Chief Technology Officer; the Commissioner of Banking and Insurance; the Clerk of Bergen County; the Mayor of Newark; the Mayor of Jersey City; and the Mayor of Camden, or their designees, who will serve ex-officio.

     The bill requires the task force to issue a report to the Governor and the Legislature and present its findings to the General Assembly Science, Innovation and Technology Committee. The bill requires the report to include: a general description of the costs and benefits of State and local government agencies utilizing blockchain technology; recommendations concerning the feasibility of implementing blockchain technology and the best approach to finance the cost of implementation; any draft legislation the task force deems appropriate to implement blockchain technology; and any other information relevant to the subject of the report.

COMMITTEE AMENDMENTS:

      The committee amended the bill to make technical changes.