ArizonaBill would let the Arizona treasurer invest up to 10 percent of state money in gold and silver
The state treasurer could put physical gold or silver bullion, up to 10 percent of trust and treasury money measured at cost, among the state's allowed investments if it is stored in a secure U.S. depository.
What it does
Physical gold or silver bullion would be on the list of allowed state investments, if its value is no more than ten percent of total trust or treasury monies measured at cost.
The rest of the section lists other allowed investments, such as federal and state bonds, bank certificates of deposit, and investment pools. It also sets rules for lending securities and for buying state transportation funding obligations.
Argument forAdding gold and silver could give the treasurer another way to spread investments, which may help protect some state money if other markets fall.
Argument againstGold and silver prices can swing and the metals pay no interest, so holding up to ten percent could cost the state returns and add storage and audit costs.
More detail
The act amends section 35-313 so the state treasurer may invest and reinvest trust and treasury monies in physical gold or silver bullion. It covers the state treasurer and the state's trust and treasury monies. The bullion must be valued at no more than ten percent of the total trust or treasury monies, measured at cost. It must be held in a commercial depository for precious metals located in the United States that meets industry standards for secure storage, insurance, independent audits, and separation from other holdings.
Section 35-313 continues to list other permitted investments and rules for securities loans and transportation board obligations. It covers the state treasurer's handling of trust and treasury monies and operating monies. Securities loans require collateral of at least 100 percent of market value in cash or 102 percent in securities. The treasurer is not required to buy transportation board obligations if general fund operating money falls below an $800,000,000 average over the prior twelve months.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 19Vetoed by Governor Katie HobbsLatest
- Jun 10Transmit to GovernorTo Governor
- Jun 9PASSEDMajor
- Vote recorded Passed. Result: pass.Lower
- Vote recorded Passed. Result: pass.Lower
- Jun 9PASSEDMajor
- Apr 13Transmit to House
- Vote recorded Passed. Result: pass.Upper
- Apr 13PASSEDMajor
- Apr 9DPAMajor
- Vote recorded do pass amended. Result: pass.Upper
- Mar 23DPA/SEMajor
- Mar 17Senate Second ReadingMinor
- Mar 16Senate First ReadingMinor
- Mar 10Transmit to Senate
- Vote recorded Passed. Result: pass.Lower
- Mar 10PASSEDPassed Senate
- Mar 2DPAMajor
- Vote recorded do pass amended. Result: pass.Lower
- Vote recorded Passed. Result: pass.Lower
- Mar 2PASSEDPassed House
- Feb 25DPMinor
- Vote recorded do pass. Result: pass.Lower
- Feb 9House Placed on Consent Calendar
- Feb 3DPMinor
- Jan 13House Second ReadingMinor
- Jan 12House First Reading.Minor
- Jan 6Prefiled.Introduced
Taxes & BudgetGovernment & Ethics