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ID H0180
Bill
Status
3/2/2023
Primary Sponsor
State Affairs Committee
Click for details
AI Summary
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Authorizes the Idaho State Treasurer to invest idle state treasury moneys in physical gold and silver owned directly, in addition to existing investment options.
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Requires gold and silver held under this provision to be securely maintained in a depository meeting current industry standards for precious metals storage and located within Idaho's geographical boundaries.
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Permits selection of a qualifying depository in a contiguous state if no compliant depository exists in Idaho.
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Mandates that gold and silver holdings be independently audited, insured, and physically segregated from other assets.
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Takes effect July 1, 2023, with an emergency declaration for immediate implementation.
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
3/3/2023