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.
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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Bailey, Paul
114th General Assembly
January 15, 2025
April 22, 2025
Assigned to General Subcommittee of Senate Finance, Ways & Means Committee