Tennessee House Votes 98-0 to Allow State Treasurer to Acquire and Hold Gold to Protect the State

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Tennessee House Votes 98-0 to Allow State Treasurer to Acquire and Hold Gold to Protect the State
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House Bill 1479, introduced by Rep. Bud Hulsey, passed out of the House of Representatives on Monday with a 98-0 vote. Senate Bill 519, the identical senate-side companion bill introduced by Sen. Frank Niceley, passed out of the Senate State and Local Government Committee today by a unanimous vote of 8-0. The legislation defines “bullion” and “specie,” as well as explicitly stating that “subject to appropriation, the state treasurer may 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.”

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