SB1812 establishes a precious metals fund to manage bullion and specie, including conversion, sales, and security.

SB1812 amends Tennessee Code to establish a precious metals fund within the state treasury for managing bullion and specie. The fund will be used for acquiring, converting, storing, and selling bullion and specie. The state treasurer will administer the fund, contracting with a toll converter based in Tennessee. The bill mandates that at least 90% of the converted specie be retained for state reserves, with up to 10% sold to residents to establish Tennessee's bullion brand.

SB1812 establishes a precious metals fund to manage bullion and specie, including conversion, sales, and security.

SB1812 amends Tennessee Code to establish a precious metals fund within the state treasury for managing bullion and specie. The fund will be used for acquiring, converting, storing, and selling bullion and specie. The state treasurer will administer the fund, contracting with a toll converter based in Tennessee. The bill mandates that at least 90% of the converted specie be retained for state reserves, with up to 10% sold to residents to establish Tennessee's bullion brand.