Bill > HB1062

This bill directs the Texas Comptroller of Public Accounts to purchase $4 billion worth of gold bullion and $1 billion worth of silver bullion during the state fiscal biennium starting September 1, 2025. The purchased bullion will be deposited into the Texas Bullion Depository, a state-managed facility for storing precious metals, and will be held in an account owned by the state. The bill appropriates $5 billion from the general revenue fund to fund these purchases, effectively allocating funds to acquire gold and silver as a potential hedge against economic uncertainty or to diversify the state's financial assets. The legislation is set to take effect on September 1, 2025, which allows time for planning and execution of the bullion purchases. By investing in physical precious metals, Texas appears to be pursuing a strategy of maintaining a tangible, potentially inflation-resistant asset within its state financial portfolio.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB1062