This bill amends Section 67-1210 of the Idaho Code to allow the state treasurer to invest idle moneys in physical gold and silver under specific conditions. The new provisions stipulate that physical gold and silver must be securely stored in a depository that meets industry standards and is located within Idaho, a neighboring state, or Texas. Additionally, the bill mandates that the gold and silver must be insured, independently audited, and physically segregated from other assets. It also allows for the storage of these metals in a bank or credit union vault, provided it meets certain criteria. Importantly, the maximum investment in physical gold and silver is capped at 7.5% of the idle moneys invested.

The bill includes a declaration of emergency, which means it will take effect on July 1, 2026. This legislative change aims to diversify the investment options available to the state treasurer, potentially enhancing the financial management of idle state funds.

Statutes affected:
Bill Text: 67-1210