Establishes the State Bank of West Virginia to manage bullion and specie deposits.

The bill establishes the State Bank of West Virginia within the State Treasurer's office to serve as a depository for bullion and specie. The State Bank will manage deposits of precious metals, record deposits in troy ounces, and maintain confidentiality of account information. The State Bank will not pay interest on accounts, and its sovereign immunity from suit is waived for denied deposit liability. The Treasurer will establish procedures for reporting taxable gains, set fees and penalties, and submit annual reports to the governor and legislature.

Establishes the State Bank of West Virginia to manage bullion and specie deposits.

The bill establishes the State Bank of West Virginia within the State Treasurer's office to serve as a depository for bullion and specie. The State Bank will manage deposits of precious metals, record deposits in troy ounces, and maintain confidentiality of account information. The State Bank will not pay interest on accounts, and its sovereign immunity from suit is waived for denied deposit liability. The Treasurer will establish procedures for reporting taxable gains, set fees and penalties, and submit annual reports to the governor and legislature.