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TN HB0440

Bill

Status

Introduced

1/28/2025

Primary Sponsor

Bud Hulsey

Click for details

Origin

House of Representatives

114th General Assembly

AI Summary

  • Authorizes the state treasurer to contract with an eligible entity to establish and operate a "Tennessee Mint" for producing gold and precious metal bullion products including rounds, bars, and commemorative pieces

  • Eligible contractors must be U.S.-owned companies with 50+ years of manufacturing experience, at least 40 years producing coinage products, and previous contracts with federal or other government entities

  • Requires the contracted facility to produce bullion products for the state and ship them to state depository locations designated by the treasurer

  • Builds on 2023 legislation (Chapter 69, Public Acts of 2023) that authorized the state treasurer to purchase and sell physical gold and precious metal bullion

  • Takes effect July 1, 2025, subject to appropriation and standard public procurement requirements

Legislative Description

AN ACT to amend Tennessee Code Annotated, Title 9, Chapter 4, relative to a facility to produce a wide range of precious metal products.

Treasurer, State

Last Action

Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025

4/9/2025

Committee Referrals

Finance, Ways & Means Subcommittee3/26/2025
Finance, Ways & Means2/5/2025

Full Bill Text

No bill text available