Amends TCA Title 9; Title 45, Chapter 2 and Title 67.
Tennessee SB0985 enacts the "Tennessee Bullion Depository Act," establishing a framework for the operation of a precious metals depository that can accept deposits from the state, political subdivisions, and private entities. The bill mandates annual reporting and auditing of depository activities, recognizes gold and silver coinage as legal tender for debts, and requires the acceptance of such coinage for tax payments. Additionally, it directs the establishment of a state reserve banking system to support state-chartered banks.
Tennessee SB0985 enacts the "Tennessee Bullion Depository Act," establishing a framework for the operation of a precious metals depository that can accept deposits from the state, political subdivisions, and private entities. The bill mandates annual reporting and auditing of depository activities, recognizes gold and silver coinage as legal tender for debts, and requires the acceptance of such coinage for tax payments. Additionally, it directs the establishment of a state reserve banking system to support state-chartered banks.
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Southerland, Steve
114th General Assembly
February 5, 2025
February 12, 2025
Passed on Second Consideration, refer to Senate Commerce and Labor Committee