Texas HB1049 proposes the issuance of gold and silver currency by the state, managed by the comptroller.

Texas HB1049 amends the Government Code to establish a framework for the issuance of gold and silver currency by the state of Texas. The comptroller is tasked with issuing this currency, which represents a fraction of a troy ounce of gold or silver held in trust. The bill outlines the procedures for the issuance and redemption of this currency, including the establishment of a pooled depository account in the Texas Bullion Depository. It also authorizes the comptroller to establish fees for the issuance or redemption of gold and silver currency to cover administrative costs.

Texas HB1049 proposes the issuance of gold and silver currency by the state, managed by the comptroller.

Texas HB1049 amends the Government Code to establish a framework for the issuance of gold and silver currency by the state of Texas. The comptroller is tasked with issuing this currency, which represents a fraction of a troy ounce of gold or silver held in trust. The bill outlines the procedures for the issuance and redemption of this currency, including the establishment of a pooled depository account in the Texas Bullion Depository. It also authorizes the comptroller to establish fees for the issuance or redemption of gold and silver currency to cover administrative costs.