AZ HB2500

State treasurer may invest up to 25 percent of budget stabilization fund monies in equity securities, with percentage calculated at cost.

State treasurer must hold at least 10 percent of budget stabilization fund monies in specie or refined gold/silver bullion graded at least .999 pure, or any combination thereof.

Specie and bullion must be held in a Level III rated secure depository facility with minimum Underwriters Laboratory class two vault door, fully insured and physically segregated from other assets.

Defines "specie" as coins with precious metal content or refined gold/silver bullion stamped with weight and purity, valued primarily for metal content rather than form.

Effective date is June 30, 2020, and the act is titled the "Arizona Sound Money Stabilization Act."