Establishes a precious metals fund to manage bullion and specie, detailing conversion, sales, and security protocols.
The bill establishes a precious metals fund within the state treasury to manage the acquisition, conversion, storage, and sale of bullion and specie. The state treasurer is tasked with contracting a toll converter based in Tennessee for converting bullion into specie, ensuring the converter has at least 40 years' experience selling coin-type products and 50 years in the industry. The bill mandates annual reporting on bullion acquisition, specie quantity, revenue from sales, and recommendations for fund operations.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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