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NC H721
Bill
Status
6/29/2023
Primary Sponsor
Mark Brody
Click for details
AI Summary
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Department of State Treasurer shall conduct a study examining the acquisition, secure storage, insurance, and liquidation of investment metal bullion (such as gold) and virtual currency (such as Bitcoin) for the State.
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Study must evaluate the potential impact of allocating General Fund resources to bullion and virtual currency to hedge against inflation, reduce portfolio volatility, and increase returns.
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Study must analyze costs, benefits, and security of using a privately managed depository, another state's depository, or creating a State-administered depository in North Carolina to hold and manage these assets.
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Department of State Treasurer shall report findings and legislative recommendations to the Joint Legislative Commission on Governmental Operations by January 1, 2024.
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Appropriates $50,000 in nonrecurring General Fund money to the Department of State Treasurer for the 2023-2024 fiscal year to conduct the study.
Legislative Description
State Precious Metals Depository Study
Appropriations; Budgeting; Council Of State; Financial Institutions; Financial Services; Funds & Accounts; Investments; Public;
Last Action
Ref To Com On Rules and Operations of the Senate
6/29/2023