Bill Summary – FastDemocracy

25.0801.01000
     Sixty-ninth
     Legislative Assembly                     HOUSE BILL NO. 1183
     of North Dakota
     Introduced by
       Representatives D. Johnston, S. Olson, Toman, Schauer, Kasper, Koppelman, D. Ruby,
       Vetter, Hendrix
       Senators Enget, Weston, Paulson
1    A BILL for an Act to create and enact a new section to chapter 54-11 of the North Dakota
2    Century Code, relating to gold and silver investments; to provide a report; and to provide an
3    effective date.
4    BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:
5        SECTION 1. A new section to chapter 54-11 of the North Dakota Century Code is created
6    and enacted as follows:
7        Gold and silver investments - General fund.
8        1.    Notwithstanding section 6-09-07, the state treasurer shall invest at least one percent
9              of all funds that are deposited in the state treasury and invested by the state treasurer,
10             including the general fund, in gold and silver.
11       2.    Gold and silver investments by the state treasurer under this section must be held
12             directly by the state treasurer as bullion or coins in a secure facility or on behalf of the
13             state through a qualified custodian, exchange traded product, or other investment
14             instrument.
15       3.    Within the limits of legislative appropriations, the state treasurer may contract for
16             services to assist with the investments in gold and silver under this section.
17       4.    The state treasurer shall develop policies and procedures for managing gold and silver
18             investments.
19       SECTION 2. GOLD AND SILVER INVESTMENTS STUDY - REPORT TO LEGISLATIVE
20   MANAGEMENT. During the 2025-26 interim, the state treasurer shall study the costs and
21   benefits of investing state funds in gold and silver. The study must include consideration of the
22   effects of inflation and economic stability for the state. The state treasurer shall report its
23   findings and recommendations to the legislative management by June 30, 2026.
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    Sixty-ninth
    Legislative Assembly
1      SECTION 3. EFFECTIVE DATE. Section 1 of this Act becomes effective July 1, 2027.
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