Idaho S1421 allows investment in physical gold and silver, sets storage requirements, and limits the maximum investment.

Idaho S1421 amends existing law to authorize investment in physical gold and silver under specific conditions. It allows storage of these metals by Idaho-chartered banks or credit unions within the state, provided they are kept in a class vault. The bill sets a maximum investment limit of 7.5% of the total moneys invested. The Idaho Department of Finance ensures that the stored gold and silver are insured, audited, and stored in a secure depository meeting industry standards. The investment board formulates policies for managing these investments.

Idaho S1421 allows investment in physical gold and silver, sets storage requirements, and limits the maximum investment.

Idaho S1421 amends existing law to authorize investment in physical gold and silver under specific conditions. It allows storage of these metals by Idaho-chartered banks or credit unions within the state, provided they are kept in a class vault. The bill sets a maximum investment limit of 7.5% of the total moneys invested. The Idaho Department of Finance ensures that the stored gold and silver are insured, audited, and stored in a secure depository meeting industry standards. The investment board formulates policies for managing these investments.