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ID H0007
Bill
Status
2/11/2021
Primary Sponsor
State Affairs Committee
Click for details
AI Summary
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Amends Idaho Code Section 67-1210 to add physical gold and silver as an authorized investment for the state treasurer's idle moneys.
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Gold and silver must be owned directly and held in a depository meeting minimum Underwriters Laboratories (UL) class two standards located within Idaho's geographical boundaries, or in a contiguous state if no qualifying depository exists in Idaho.
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Requires the state treasurer to ensure gold and silver holdings are insured, independently audited, and physically segregated from other assets.
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Makes technical corrections to existing language regarding investment administration fees and account management for idle moneys.
Legislative Description
Amends existing law to provide that idle moneys may be invested in physical gold and silver in certain instances.
STATE TREASURER
Last Action
Introduced, read first time; referred to: State Affairs
2/12/2021