Bill > HB0440

This bill establishes a framework for creating a Tennessee State Mint by authorizing the state treasurer to enter into an agreement with a specific type of eligible entity to produce bullion products. The bill defines key terms, including "eligible entity" as a U.S.-based manufacturer with at least 50 years of experience, including 40 years of producing coinage products, and with previous government contracts. The eligible entity will be responsible for making capital improvements, constructing facilities, maintaining infrastructure, receiving state orders for bullion products (such as rounds, bars, and commemorative pieces), and shipping these products to locations designated by the state treasurer. The state treasurer is required to follow public procurement requirements and promulgate rules for the state mint's operations in accordance with administrative procedures. The bill specifies that the state mint will securely produce, store, process, and ship bullion products for the state's depository, with the implementation set to take effect on July 1, 2025. If any part of the act is found to be invalid, the remaining provisions will still stand. The bill aims to establish a state-sponsored facility for producing precious metal products with specific operational guidelines and requirements.

Budget and Finance

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0440&ga=114