diff --git a/docs/architecture/README.md b/docs/architecture/README.md
index 7256e5038..1a97addfa 100644
--- a/docs/architecture/README.md
+++ b/docs/architecture/README.md
@@ -101,3 +101,4 @@ Note the context/background should be written in the present tense.
 - [ADR-057: RPC](./adr-057-RPC.md)
 - [ADR-069: Node Initialization](./adr-069-flexible-node-initialization.md)
 - [ADR-071: Proposer-Based Timestamps](adr-071-proposer-based-timestamps.md)
+- [ADR-074: Migrate Timeout Parameters to Consensus Parameters](./adr-074-timeout-params.md)
diff --git a/docs/architecture/adr-074-timeout-params.md b/docs/architecture/adr-074-timeout-params.md
new file mode 100644
index 000000000..e3e1a1800
--- /dev/null
+++ b/docs/architecture/adr-074-timeout-params.md
@@ -0,0 +1,203 @@
+# ADR 74: Migrate Timeout Parameters to Consensus Parameters
+
+## Changelog
+
+- 03-Jan-2022: Initial draft (@williambanfield)
+- 13-Jan-2022: Updated to indicate work on upgrade path needed (@williambanfield)
+
+## Status
+
+Proposed
+
+## Context
+
+### Background
+
+Tendermint's consensus timeout parameters are currently configured locally by each validator
+in the validator's [config.toml][config-toml].
+This means that the validators on a Tendermint network may have different timeouts
+from each other. There is no reason for validators on the same network to configure
+different timeout values. Proper functioning of the Tendermint consensus algorithm
+relies on these parameters being uniform across validators.
+
+The configurable values are as follows:
+
+* `TimeoutPropose`
+	* How long the consensus algorithm waits for a proposal block before issuing a prevote.
+	* If no prevote arrives by `TimeoutPropose`, then the consensus algorithm will issue a nil prevote.
+* `TimeoutProposeDelta`
+	* How much the `TimeoutPropose` grows each round.
+* `TimeoutPrevote`
+	* How long the consensus algorithm waits after receiving +2/3 prevotes with
+	no quorum for a value before issuing a precommit for nil.
+	(See the [arXiv paper][arxiv-paper], Algorithm 1, Line 34)
+* `TimeoutPrevoteDelta`
+	* How much the `TimeoutPrevote` increases with each round.
+* `TimeoutPrecommit`
+	* How long the consensus algorithm waits after receiving +2/3 precommits that
+	do not have a quorum for a value before entering the next round. 
+	(See the [arXiv paper][arxiv-paper], Algorithm 1, Line 47)
+* `TimeoutPrecommitDelta`
+	* How much the `TimeoutPrecommit` increases with each round.
+* `TimeoutCommit`
+	* How long the consensus algorithm waits after committing a block but before starting the new height.
+	* This gives a validator a chance to receive slow precommits.
+* `SkipTimeoutCommit`
+	* Make progress as soon as the node has 100% of the precommits.
+
+
+### Overview of Change
+
+We will consolidate the timeout parameters and migrate them from the node-local 
+`config.toml` file into the network-global consensus parameters.
+
+The 8 timeout parameters will be consolidated down to 6. These will be as follows:
+
+* `TimeoutPropose`
+	* Same as current `TimeoutPropose`.
+* `TimeoutProposeDelta`
+	* Same as current `TimeoutProposeDelta`.
+* `TimeoutVote`
+	* How long validators wait for votes in both the prevote
+	 and precommit phase of the consensus algorithm. This parameter subsumes
+	 the current `TimeoutPrevote` and `TimeoutPrecommit` parameters.
+* `TimeoutVoteDelta`
+	* How much the `TimeoutVote` will grow each successive round.
+	 This parameter subsumes the current `TimeoutPrevoteDelta` and `TimeoutPrecommitDelta`
+	 parameters.
+* `TimeoutCommit`
+	* Same as current `TimeoutCommit`.
+* `EnableTimeoutCommitBypass`
+	* Same as current `SkipTimeoutCommit`, renamed for clarity.
+
+A safe default will be provided by Tendermint for each of these parameters and
+networks will be able to update the parameters as they see fit. Local updates
+to these parameters will no longer be possible; instead, the application will control
+updating the parameters. Applications using the Cosmos SDK will be automatically be
+able to change the values of these consensus parameters [via a governance proposal][cosmos-sdk-consensus-params].
+
+This change is low-risk. While parameters are locally configurable, many running chains
+do not change them from their default values. For example, initializing
+a node on Osmosis, Terra, and the Cosmos Hub using the their `init` command produces
+a `config.toml` with Tendermint's default values for these parameters.
+
+### Why this parameter consolidation?
+
+Reducing the number of parameters is good for UX. Fewer superfluous parameters makes
+running and operating a Tendermint network less confusing. 
+
+The Prevote and Precommit messages are both similar sizes, require similar amounts
+of processing so there is no strong need for them to be configured separately.
+
+The `TimeoutPropose` parameter governs how long Tendermint will wait for the proposed
+block to be gossiped. Blocks are much larger than votes and therefore tend to be
+gossiped much more slowly. It therefore makes sense to keep `TimeoutPropose` and
+the `TimeoutProposeDelta` as parameters separate from the vote timeouts.
+
+`TimeoutCommit` is used by chains to ensure that the network waits for the votes from
+slower validators before proceeding to the next height. Without this timeout, the votes
+from slower validators would consistently not be included in blocks and those validators
+would not be counted as 'up' from the chain's perspective. Being down damages a validator's
+reputation and causes potential stakers to think twice before delegating to that validator.
+
+`TimeoutCommit` also prevents the network from producing the next height as soon as validators
+on the fastest hardware with a summed voting power of +2/3 of the network's total have
+completed execution of the block. Allowing the network to proceed as soon as the fastest
++2/3 completed execution would have a cumulative effect over heights, eventually
+leaving slower validators unable to participate in consensus at all. `TimeoutCommit`
+therefore allows networks to have greater variability in hardware. Additional
+discussion of this can be found in [tendermint issue 5911][tendermint-issue-5911-comment]
+and [spec issue 359][spec-issue-359].
+
+## Alternative Approaches
+
+### Hardcode the parameters
+
+Many Tendermint networks run on similar cloud-hosted infrastructure. Therefore,
+they have similar bandwidth and machine resources. The timings for propagating votes
+and blocks are likely to be reasonably similar across networks. As a result, the
+timeout parameters are good candidates for being hardcoded. Hardcoding the timeouts
+in Tendermint would mean entirely removing these parameters from any configuration
+that could be altered by either an application or a node operator. Instead,
+Tendermint would ship with a set of timeouts and all applications using Tendermint
+would use this exact same set of values.
+
+While Tendermint nodes often run with similar bandwidth and on similar cloud-hosted
+machines, there are enough points of variability to make configuring
+consensus timeouts meaningful. Namely, Tendermint network topologies are likely to be
+very different from chain to chain. Additionally, applications may vary greatly in 
+how long the `Commit` phase may take. Applications that perform more work during `Commit`
+require a longer `TimeoutCommit` to allow the application to complete its work
+and be prepared for the next height.
+
+## Decision
+
+The decision has been made to implement this work, with the caveat that the
+specific mechanism for introducing the new parameters to chains is still ongoing.
+
+## Detailed Design
+
+### New Consensus Parameters
+
+A new `TimeoutParams` `message` will be added to the [params.proto file][consensus-params-proto].
+This message will have the following form:
+
+```proto
+message TimeoutParams {
+ google.protobuf.Duration propose = 1;
+ google.protobuf.Duration propose_delta = 2;
+ google.protobuf.Duration vote = 3;
+ google.protobuf.Duration vote_delta = 4;
+ google.protobuf.Duration commit = 5;
+ bool enable_commit_timeout_bypass = 6;
+}
+```
+
+This new message will be added as a field into the [`ConsensusParams`
+message][consensus-params-proto]. The same default values that are [currently
+set for these parameters][current-timeout-defaults] in the local configuration
+file will be used as the defaults for these new consensus parameters in the
+[consensus parameter defaults][default-consensus-params].
+
+The new consensus parameters will be subject to the same
+[validity rules][time-param-validation] as the current configuration values,
+namely, each value must be non-negative.
+
+### Migration
+
+The new `ConsensusParameters` will be added during an upcoming release. In this
+release, the old `config.toml` parameters will cease to control the timeouts and 
+an error will be logged on nodes that continue to specify these values. The specific
+mechanism by which these parameters will added to a chain is being discussed in 
+[RFC-009][rfc-009] and will be decided ahead of the next release. 
+
+The specific mechanism for adding these parameters depends on work related to
+[soft upgrades][soft-upgrades], which is still ongoing.
+
+## Consequences
+
+### Positive
+
+* Timeout parameters will be equal across all of the validators in a Tendermint network.
+* Remove superfluous timeout parameters.
+
+### Negative
+
+### Neutral
+
+* Timeout parameters require consensus to change.
+
+## References
+
+[conseusus-params-proto]: https://github.com/tendermint/spec/blob/a00de7199f5558cdd6245bbbcd1d8405ccfb8129/proto/tendermint/types/params.proto#L11
+[hashed-params]: https://github.com/tendermint/tendermint/blob/7cdf560173dee6773b80d1c574a06489d4c394fe/types/params.go#L49
+[default-consensus-params]: https://github.com/tendermint/tendermint/blob/7cdf560173dee6773b80d1c574a06489d4c394fe/types/params.go#L79
+[current-timeout-defaults]: https://github.com/tendermint/tendermint/blob/7cdf560173dee6773b80d1c574a06489d4c394fe/config/config.go#L955
+[config-toml]: https://github.com/tendermint/tendermint/blob/5cc980698a3402afce76b26693ab54b8f67f038b/config/toml.go#L425-L440
+[cosmos-sdk-consensus-params]: https://github.com/cosmos/cosmos-sdk/issues/6197
+[time-param-validation]: https://github.com/tendermint/tendermint/blob/7cdf560173dee6773b80d1c574a06489d4c394fe/config/config.go#L1038
+[tendermint-issue-5911-comment]: https://github.com/tendermint/tendermint/issues/5911#issuecomment-973560381
+[spec-issue-359]: https://github.com/tendermint/spec/issues/359
+[arxiv-paper]: https://arxiv.org/pdf/1807.04938.pdf
+[soft-upgrades]: https://github.com/tendermint/spec/pull/222
+[rfc-009]: https://github.com/tendermint/tendermint/pull/7524