VA HB1121

Authorizes Virginia's state government, municipalities, and other political subdivisions to invest public funds in precious metals (gold, silver, platinum, palladium) through SEC or CFTC-approved exchange-traded products

Permits public entities to invest public funds in virtual currencies as defined under existing Virginia banking law

Limits continuous investment in any single commodities ETP or virtual currency to a maximum of five years

Requires the Commonwealth Treasury Board to establish and maintain strict investment guidelines for both precious metals ETPs and virtual currencies

Mandates that all public entities investing under these provisions monitor their investments for compliance with Treasury Board guidelines