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TN HB0440
Bill
Status
1/28/2025
Primary Sponsor
Bud Hulsey
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AI Summary
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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
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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
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Requires the contracted facility to produce bullion products for the state and ship them to state depository locations designated by the treasurer
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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
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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