Senate Bill 167 amends Tennessee Code Annotated to establish a framework for the production of bullion products through a designated facility known as the Tennessee Mint. The bill introduces new definitions, including "covered activity," which encompasses capital improvements, order fulfillment for bullion products, and other operational activities related to the mint. It also defines "eligible entity" as a manufacturer with a history of producing coinage products and outlines the requirements for such entities to enter into agreements with the state treasurer for the mint's operation.

Additionally, the bill mandates the state treasurer to enter into agreements with eligible entities to perform covered activities and to designate them as the state mint upon completion. The treasurer is also tasked with promulgating rules to govern the mint's operations in accordance with the Uniform Administrative Procedures Act. The act is set to take effect on July 1, 2025, and includes a severability clause to ensure that if any provision is found invalid, the remaining provisions will still be enforceable.

Statutes affected:
Introduced: 9-4-801