Tennessee 2025-2026 Regular Session

Tennessee Senate Bill SB0167 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1
2		-	HOUSE BILL 440
3		-	By Hulsey
	2	+	<BillNo> <Sponsor>
4	3
5	4		SENATE BILL 167
6	5		By Bailey
7	6
8	7
9	8		SB0167
10	9		001339
11	10		- 1 -
12	11
13	12		AN ACT to amend Tennessee Code Annotated, Title 9,
14	13		Chapter 4, relative to a facility to produce a wide
15	14		range of precious metal products.
16	15
17	16		WHEREAS, Governor Bill Lee signed House Bill 1479 / Senate Bill 519 (Chapter 69 of
18	17		the Public Acts of 2023), which was enacted by the 113
19	18		th
20	19		General Assembly, allowing the state
21	20		treasurer to purchase and sell physical gold and precious metal bullion; and
22	21		WHEREAS, it is in the interest of the State to enable residents and interested parties to
23	22		purchase, securely and reliably, gold and precious metal bullion; and
24	23		WHEREAS, gold and precious metal bullion offered for sale by the State must be
25	24		securely controlled and identifiable as originating from the State; now, therefore,
26	25		BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
27	26		SECTION 1. Tennessee Code Annotated, Section 9-4-801, is amended by adding the
28	27		following as new, appropriately numbered subdivisions:
29	28		( ) "Covered activity" means:
30	29		(A) Making capital improvements, including construction, reconstruction,
31	30		and nonroutine maintenance of a structure, infrastructure, or improvement
32	31		relating to the operation of, or access to, a facility to produce bullion products in
33	32		uniform shapes, including, but not limited to, rounds, bars, and commemorative
34	33		pieces with unique designs, shapes, and finishes that appeal to collectors and
35	34		investors;
36	35		(B) Receiving orders from the state for the production of such bullion
37	36		products and shipping them to locations designated by the state treasurer in a
38	37		state depository; and
39	38
40	39
41	40		- 2 - 001339
42	41
43	42		(C) Another activity necessary to operate or maintain the facility of an
44	43		eligible entity;
45	44		( ) "Eligible entity" means an entity with:
46	45		(A) Previous or current contracts with the federal government and other
47	46		governmental entities to produce coinage products in uniform shapes to be
48	47		stamped by the respective governments into official coin products;
49	48		(B) A written comprehensive plan to build all facilities necessary for
50	49		operation of the Tennessee Mint that complies with the requirements of § 9-4-
51	50		803; and
52	51		(C) United States domicile and ownership, operating for over fifty (50)
53	52		years as a manufacturer, with not less than forty (40) of such years
54	53		manufacturing coinage products in uniform shape for coin products;
55	54		( ) "State depository" has the same meaning as defined in § 9-4-107; and
56	55		( ) "State mint" or "Tennessee Mint" means a facility that is designated by a
57	56		contractual agreement between an eligible entity with the state treasurer pursuant to § 9-
58	57		4-803 to securely produce, store, process, and ship bullion products for the state's
59	58		depository;
60	59		SECTION 2. Tennessee Code Annotated, Title 9, Chapter 4, Part 8, is amended by
61	60		adding the following language as a new section:
62	61		9-4-803.
63	62		Pursuant to the procurement requirements and process required in title 12,
64	63		chapter 4, relating to public contracts, and subject to appropriation, the state treasurer
65	64		shall:
66	65
67	66
68	67		- 3 - 001339
69	68
70	69		(1) Enter into an agreement with an eligible entity to carry out covered
71	70		activities in order to serve as the state mint and upon completion of such covered
72	71		activities, designating it as the state mint; and
73	72		(2) Promulgate rules to effectuate the operations of the state mint
74	73		established in this section. The rules must be promulgated in accordance with
75	74		the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
76	75		SECTION 3. If any provision of this act or its application to any person or circumstance
77	76		is held invalid, then the invalidity does not affect other provisions or applications of the act that
78	77		can be given effect without the invalid provision or application, and to that end, the provisions of
79	78		this act are severable.
80	79		SECTION 4. This act takes effect July 1, 2025, the public welfare requiring it.