ARIZONA HOUSE OF REPRESENTATIVES

57th Legislature, 2nd Regular Session

Majority Research Staff

HB 2140: bullion depository; state monies; treasurer

Sponsor: Representative Fink, LD 27

Committee on Regulatory Oversight

Overview

Sets guidelines for storing bullion in the Arizona Bullion Depository (Depository) and grants the Department of Insurance and Financial Institutions (DIFI) authority to adopt rules to implement specified guidelines.

History

DIFI was established to maintain the stability of the financial services industry in Arizona by licensing, regulating and supervising insurers, banks and state-chartered financial entities. Statute authorizes DIFI to examine licensed financial institutions and business enterprises to ensure compliance with state law (DIFI); (A.R.S. §§ 6-121 et al., 20-141 et al.).

The primary duties of the Treasurer are to receive and hold all monies belonging to Arizona that are not required to be kept by some other person, to keep an account of all monies received and disbursed and to keep separate accounts of the funds and appropriations of monies. Other key functions include paying warrants of the Arizona Department of Administration, supporting the financial literacy of Arizonans and administering the AZ529 plan, Arizona's education savings plan. Statute designates the Treasurer to invest state monies and administer local government investment pools (A.R.S. §§ 41-172, 35-313, 35-326).

Provisions

1. Allows the state, including any state agency, county, municipality or other governmental entity to use the Depository to store bullion. (Sec. 1)

2. Permits the Treasurer to deposit up to 10% of state monies as bullion, which is part of Arizona's financial reserves. (Sec. 1)

3. Requires DIFI to adopt rules to implement the provisions of the bill. (Sec. 1)

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7. Initials DC/IG HB 2140

8. 1/13/2026 Page 0 Regulatory Oversight

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