Just passed by both houses of the California state legislature, the bill is designed the lay the groundwork for pretty much anything the state does in the future in regards to blockchain technology, as well as define how the state will legally view the word "blockchain" entirely.

The bill's intentions are outlined as:

"This bill, until January 1, 2022, would require the Secretary of the Government Operations Agency to appoint a blockchain working group on or before July 1, 2019.

The bill would define blockchain. The bill, on or before July 1, 2020, would require the working group to report to the Legislature on the potential uses, risks, and benefits of the use of blockchain technology by state government and California-based businesses, as specified."

The full text of the bill is now on the state legislature website here.