SB0168In Committee

Amends TCA Title 9.

Tennessee SB0168 establishes a restricted account within the state treasury's reserve account for the purchase and sale of precious metal bullion and specie, allowing the state treasurer to invest in these assets with the approval of the comptroller of the treasury. The bill affects the management of state funds by enabling investments in gold, silver, platinum, and palladium, while also making gold and silver coins legal tender in the state, though acceptance is not mandatory. Key provisions include confidentiality of related records, the establishment of investment policies, and the ability to enter into contracts for the procurement of these precious metals.

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Overview

Tennessee SB0168 establishes a restricted account within the state treasury's reserve account for the purchase and sale of precious metal bullion and specie, allowing the state treasurer to invest in these assets with the approval of the comptroller of the treasury. The bill affects the management of state funds by enabling investments in gold, silver, platinum, and palladium, while also making gold and silver coins legal tender in the state, though acceptance is not mandatory. Key provisions include confidentiality of related records, the establishment of investment policies, and the ability to enter into contracts for the procurement of these precious metals.

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Sponsor

Bailey, Paul

Details
Session

114th General Assembly

Introduced

January 15, 2025

Last Action

April 22, 2025

Assigned to General Subcommittee of Senate Finance, Ways & Means Committee

Subjects
Public Funds and FinancingTreasurer, StateComptroller, State

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SB0168: Amends TCA Title 9. | LegisGo