ARIZONA HOUSE OF REPRESENTATIVES

57th Legislature, 2nd Regular Session

Majority Research Staff

House: RO DP 4-0-1-0 |Third Read 31-24-4-0-1

Senate: FIN DPA/SE 4-2-1-0 |Third Read 16-10-4-0-0

HB 2140: ~~bullion depository; state monies; treasurer~~

NOW: treasurer; investment; bullion

Sponsor: Representative Fink, LD 27

Senate Engrossed

The House Engrossed version of HB 2140 sets guidelines for storing bullion in the Arizona Bullion Depository and grants the Arizona State Treasurer ultimate operational control of the Depository.

The Senate adopted a strike-everything amendment that does the following:

Overview

Permits the Treasurer to invest trust or treasury monies in physical gold or silver bullion stored in a U.S. precious metals 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. Authorizes the Treasurer to invest up to 10% of total trust or treasury monies in physical gold or silver bullion if held in a U.S. commercial precious metals depository that meets all industry standards for secure storage, insurance, audits and physical segregation from other holdings.

2. Includes a conforming change.

5. ---------- DOCUMENT FOOTER ---------

6. Initials DC/IG HB 2140

7. 03/26/2026 Page 0 Senate Engrossed

9. ---------- DOCUMENT FOOTER ---------