This bill amends Sections 57-720 and 59-1312 of the Idaho Code to allow for investments in physical gold and silver under specific conditions. It introduces provisions for the secure storage of these precious metals, requiring that they be maintained in a depository that meets industry standards and is located within Idaho, a contiguous state, or Texas. Additionally, it allows for the option of storing gold and silver in a class 1 vault at a bank or credit union chartered in Idaho. The bill also sets a maximum investment limit of 7.5% of the moneys invested in physical gold and silver.

The amendments also include the establishment of guidelines for the investment board and funding agents regarding the management of these investments, ensuring that the gold and silver are insured, independently audited, and physically segregated from other assets. The bill declares an emergency, making it effective from July 1, 2026.

Statutes affected:
Bill Text: 57-720, 59-1312