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ARIZONA HOUSE OF REPRESENTATIVES57th Legislature, 2nd Regular Session |
House: RO DP 4-0-1-0 |
HB 2140: bullion depository; state monies; treasurer
Sponsor: Representative Fink, LD 27
House Engrossed
Overview
Sets guidelines for storing bullion in the Arizona Bullion Depository (Depository) and grants the Arizona State Treasurer (Treasurer) ultimate operational control of the Depository.
History
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. Delegates to the Treasurer the ultimate operational control of the Depository. (Sec. 1)
3. Permits the Treasurer to deposit up to 10% of state monies as bullion, which is part of Arizona's financial reserves. (Sec. 1)
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Initials DC/IG HB 2140
03/02/2026 Page 0 House Engrossed
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