Bill
Bill > S1314
ID S1314
ID S1314Amends existing law to provide that idle moneys may be invested in physical gold and silver in certain instances, to provide for storage of physical gold and silver, and to provide for a maximum allowed investment.
summary
Introduced
02/09/2024
02/09/2024
In Committee
03/28/2024
03/28/2024
Crossed Over
03/11/2024
03/11/2024
Passed
04/02/2024
04/02/2024
Dead
Vetoed
04/08/2024
04/08/2024
Introduced Session
2024 Regular Session
Bill Summary
RELATING TO THE STATE TREASURER; AMENDING SECTION 67-1210, IDAHO CODE, TO PROVIDE THAT IDLE MONEYS MAY
AI Summary
This bill amends existing law to allow the Idaho state treasurer to invest idle state moneys in physical gold and silver, subject to certain requirements. Specifically, the bill permits the investment of up to 7.5% of idle moneys in physical gold and silver, which must be stored securely in a qualified depository within Idaho or a contiguous state. The bill also allows storage of the gold and silver in a class 1 vault at a bank or credit union located in Idaho. The bill declares an emergency and will take effect on July 1, 2024.
Committee Categories
Government Affairs, Justice
Sponsors (7)
Vito Barbieri (R),
Dale Hawkins (R),
Scott Herndon (R),
Elaine Price (R),
Heather Scott (R),
Josh Tanner (R),
Tony Wisniewski (R),
Other Sponsors (1)
State Affairs Committee (Senate)
Last Action
Recommitted to State Affairs (on 04/10/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2024/legislation/S1314/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/S1314E1.pdf |
| Amendment S1314A1 | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/S1314A1.pdf |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/S1314.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/S1314SOP.pdf |
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