| 1 | 1 | | 88R13494 KJE-D |
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| 2 | 2 | | By: Dorazio H.B. No. 4305 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to purchasing gold and silver bullion for this state to |
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| 8 | 8 | | hold in the Texas Bullion Depository; making an appropriation. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. (a) The comptroller of public accounts shall |
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| 11 | 11 | | undertake to purchase during the state fiscal biennium beginning |
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| 12 | 12 | | September 1, 2023: |
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| 13 | 13 | | (1) $4 billion worth of gold bullion; and |
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| 14 | 14 | | (2) $1 billion worth of silver bullion. |
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| 15 | 15 | | (b) The comptroller of public accounts shall deposit the |
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| 16 | 16 | | bullion purchased under Subsection (a) of this section into the |
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| 17 | 17 | | Texas Bullion Depository to the credit of an account held by this |
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| 18 | 18 | | state. |
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| 19 | 19 | | SECTION 2. The amount of $5 billion is appropriated from the |
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| 20 | 20 | | general revenue fund to the comptroller of public accounts for the |
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| 21 | 21 | | state fiscal biennium beginning September 1, 2023, for the purpose |
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| 22 | 22 | | of purchasing $4 billion in gold bullion and $1 billion in silver |
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| 23 | 23 | | bullion. |
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| 24 | 24 | | SECTION 3. This Act takes effect September 1, 2023. |
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