Public Funds and Financing - As enacted, allows the state treasurer to purchase and sell physical gold and precious metal. - Amends TCA Title 9, Chapter 4, Part 8.
Companion bill has been assigned Public Chapter Number 69 by the Secretary of State.
  • Bill History
  • Amendments
  • Video
  • Summary
  • Fiscal Note
  • Votes
  • Actions For SB0519Date
    Comp. became Pub. Ch. 6903/28/2023
    Sponsor(s) Added.03/13/2023
    Companion House Bill substituted03/13/2023
    Placed on Senate Consent Calendar 2 for 3/13/202303/10/2023
    Recommended for passage, refer to Senate Calendar Committee03/07/2023
    Placed on Senate State and Local Government Committee calendar for 3/7/202302/28/2023
    Passed on Second Consideration, refer to Senate State and Local Government Committee01/30/2023
    Introduced, Passed on First Consideration01/26/2023
    Filed for introduction01/25/2023
    Actions For HB1479Date
    Effective date(s) 03/23/202303/28/2023
    Pub. Ch. 6903/28/2023
    Signed by Governor.03/23/2023
    Transmitted to Governor for his action.03/15/2023
    Signed by Senate Speaker03/15/2023
    Signed by H. Speaker03/15/2023
    Enrolled; ready for sig. of H. Speaker.03/15/2023
    Passed Senate, Ayes 33, Nays 003/13/2023
    Senate substituted House Bill for companion Senate Bill.03/13/2023
    Received from House, Passed on First Consideration03/09/2023
    Engrossed; ready for transmission to Sen.03/07/2023
    Passed H., Ayes 98, Nays 0, PNV 003/06/2023
    Sponsor(s) Added.03/06/2023
    Sponsor(s) Added.03/02/2023
    H. Placed on Consent Calendar for 3/6/202303/02/2023
    Placed on cal. Calendar & Rules Committee for 3/2/202303/01/2023
    Rec. for pass; ref to Calendar & Rules Committee02/28/2023
    Placed on cal. Finance, Ways, and Means Committee for 2/28/202302/22/2023
    Rec. for pass by s/c ref. to Finance, Ways, and Means Committee02/22/2023
    Sponsor(s) Added.02/17/2023
    Placed on s/c cal Finance, Ways, and Means Subcommittee for 2/22/202302/15/2023
    Assigned to s/c Finance, Ways, and Means Subcommittee02/07/2023
    P2C, ref. to Finance, Ways, and Means Committee02/02/2023
    Intro., P1C.02/01/2023
    Filed for introduction01/31/2023
  • No amendments for SB0519.
    No amendments for HB1479.

  • Videos containing keyword: SB0519

  • Fiscal Summary

    Other Fiscal Impact – The precise impact on state earnings revenue is unknown and is expected to vary considerably based on the status of financial market performance at any future time and the timing for which any liquidation and reinvestment of funds would be made. Any expenses incurred for the storage and maintenance of physical gold and precious metal bullion or specie will be the result of future actions by the State Treasurer.


    Bill Summary

    This bill authorizes the state treasurer to:

    (1) Purchase and sell gold or precious metal bullion or specie that will be directly owned by the state, and in the custody of the state treasurer; and

    (2) Enter contracts and other instruments with a person to effectuate this bill.

    The physical gold and precious metal purchased under this bill must be custodied by the state treasurer in a state depository and maintained in a vault within the state depository's banking facilities within the geographical boundaries of Tennessee.

    This bill requires the state treasurer to ensure that the gold or precious metal bullion or specie is securely maintained and transported; adequately insured; independently audited; and physically segregated from the other assets custodied at the state depository.

    This bill requires that the expenses for the administration and implementation of the purchase, sale, transportation, maintenance, valuation, security, insurance, and custody of the gold or precious metal bullion or specie must be paid from state funds appropriated in the general appropriations act.

  • FiscalNote for SB0519/HB1479 filed under SB0519

  • House Floor and Committee Votes

    HB1479 by Hulsey - FLOOR VOTE: CONSENT CALENDAR PASSAGE ON THIRD CONSIDERATION 3/6/2023
    Passed
              Ayes...............................................98
              Noes................................................0

              Representatives voting aye were: Alexander, Barrett, Baum, Beck, Boyd, Bricken, Bulso, Burkhart, Butler, Campbell S, Camper, Capley, Carr, Carringer, Cepicky, Chism, Clemmons, Cochran, Crawford, Darby, Davis, Dixie, Doggett, Eldridge, Faison, Farmer, Freeman, Fritts, Gant, Garrett, Gillespie, Glynn, Grills, Hakeem, Hale, Hardaway, Harris, Haston, Hawk, Hazlewood, Helton-Haynes, Hemmer, Hicks G, Hicks T, Holsclaw, Howell, Hulsey, Jernigan, Johnson C, Johnson G, Jones, Keisling, Kumar, Lafferty, Lamberth, Leatherwood, Littleton, Love, Lynn, Marsh, Martin B, Martin G, McCalmon, McKenzie, Miller, Mitchell, Moody, Moon, Parkinson, Pearson, Powell, Powers, Ragan, Raper, Reedy, Richey, Rudd, Rudder, Russell, Shaw, Sherrell, Slater, Sparks, Stevens, Terry, Thompson, Todd, Towns, Travis, Vaughan, Vital, Warner, White, Whitson, Williams, Wright, Zachary, Mr. Speaker Sexton -- 98.

              HB1479 by Hulsey - HOUSE CALENDAR & RULES COMMITTEE:
    H. Placed on Consent Calendar for 3/6/2023 3/2/2023
              Voice Vote - Ayes Prevail

              HB1479 by Hulsey - HOUSE FINANCE, WAYS, AND MEANS COMMITTEE:
    Rec. for pass; ref to Calendar & Rules Committee 2/28/2023
              Voice Vote - Ayes Prevail

              HB1479 by Hulsey - HOUSE FINANCE, WAYS, AND MEANS SUBCOMMITTEE:
    Rec. for pass by s/c ref. to Finance, Ways, and Means Committee 2/22/2023
              Voice Vote - Ayes Prevail

    Senate Floor and Committee Votes

    Senate moved to substitute and conform to HB1479

    HB1479 by Hulsey - FLOOR VOTE: Motion to Adopt 3/13/2023
    Passed
              Ayes...............................................33
              Noes................................................0

              Senators voting aye were: Akbari, Bailey, Bowling, Briggs, Campbell, Crowe, Gardenhire, Haile, Hensley, Jackson, Johnson, Kyle, Lamar, Lowe, Lundberg, Massey, Niceley, Oliver, Pody, Powers, Reeves, Roberts, Rose, Southerland, Stevens, Swann, Taylor, Walley, Watson, White, Yager, Yarbro, Mr. Speaker McNally -- 33.

    SB0519 by Niceley - SENATE STATE & LOCAL GOVERNMENT COMMITTEE:
    Recommended for passage, refer to Senate Calendar Committee 3/7/2023
    Passed
              Ayes................................................8
              Noes................................................0

              Senators voting aye were: Jackson, Kyle, Lowe, Pody, Stevens, Walley, Yager, Yarbro -- 8.