Bill Summary for H 721 (2023-2024)

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Bill: STATE PRECIOUS METALS DEPOSITORY STUDY.

Summary date: 

Jun 14 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
House Bill 721 (Public) Filed Tuesday, April 18, 2023
AN ACT TO STUDY THE HOLDING OF BULLION AND VIRTUAL CURRENCY AND THEIR POTENTIAL BENEFITS AND WHETHER TO ESTABLISH A NORTH CAROLINA BULLION DEPOSITORY FOR SUCH ASSETS.
Intro. by Brody, Warren, Loftis, N. Jackson.

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Bill summary

House committee substitute the 1st edition makes the following changes.

Deletes the $2 billion appropriation from the Savings Reserve as well as the requirement that the State Treasurer acquire gold bullion to be stored with the Texas Bullion Depository. Makes a conforming change to the act's long title.

Appropriates $50,000 for 2023-24 from the General Fund to the Department of State Treasurer to conduct the study required by the act.