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TX HB1062

Bill

Official Source

Status

Introduced

11/12/2024

Primary Sponsor

Mark Dorazio

Click for details

Origin

House of Representatives

89th Legislature Regular Session

AI Summary

  • Directs the comptroller of public accounts to purchase $4 billion worth of gold bullion and $1 billion worth of silver bullion during the state fiscal biennium beginning September 1, 2025

  • Requires all purchased bullion to be deposited into the Texas Bullion Depository and credited to a state-held account

  • Appropriates $5 billion from the general revenue fund to the comptroller for the bullion purchases

  • Takes effect September 1, 2025

Legislative Description

Relating to purchasing gold and silver bullion for this state to hold in the Texas Bullion Depository; making an appropriation.

State Finances

Last Action

Referred to Pensions, Investments & Financial Services

3/7/2025

Committee Referrals

Pensions, Investments & Financial Services3/7/2025

Full Bill Text

No bill text available