Bill > LC2211

This bill requests the Legislative Council to assign an interim committee to conduct a comprehensive study on establishing a Montana bullion depository. The study aims to explore the potential costs and benefits of creating a state-administered or state-audited bullion depository with vault storage, which would serve as a custodian and repository for precious metals assets. The committee will specifically analyze the legal frameworks of existing depositories in Texas and Idaho, and examine how precious metals could enhance the economic security and prosperity of Montana, its residents, and businesses. Motivated by concerns about currency devaluation by the Federal Reserve and the potential financial risks associated with storing bullion outside the state, the bill requires the study to be completed by September 15, 2026, with final results and recommendations to be presented to the 70th Legislature. The study will investigate the potential for the depository to serve both state government needs and individual investors, with a focus on understanding the strategic value of maintaining a state-controlled precious metals storage facility.

https://bills.legmt.gov/#/lc/bill/2/LC2211