TN HB2361

Establishes the "Precious Metals Fund" within the state treasury to acquire, convert, store, and sell gold and silver bullion and specie, with $50 million intended for appropriation in fiscal year 2027

Requires the state treasurer to contract with a Tennessee-based toll converter to transform bullion into specie within 12 months, with preference for converters having at least 40 years of coin-selling experience

Authorizes sale of up to 10% of converted specie to residents, prioritizing Tennessee residents, while retaining at least 90% as state reserves to hedge against inflation and economic instability

Exempts records related to bullion location, custody, transportation, security, and procurement from public inspection requirements

Takes effect July 1, 2026, with rulemaking authority effective upon becoming law