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Bill

HB 610

FUNDS/FUNDING: Authorizes the state treasurer to invest up to ten percent of available monies in the Revenue Stabilization Trust Fund in gold (RE SEE FISC NOTE GF EX See Note)

2026 Regular Session Introduced by Raymond Crews

Allows up to 10% of the Revenue Stabilization Trust Fund to be invested in gold bullion or gold coins, with custodian contracts, effective July 1, 2026.

Received in the Senate. Read first time by title and placed on the Calendar for a second reading.
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Bill Summary · HB 610

Summary of Bill HB 610 (Louisiana, 2026)

Title

Authorizes the state treasurer to invest up to 10% of available monies in the Revenue Stabilization Trust Fund (RSTF) in gold bullion, gold specie, or both.

Purpose and Intent

  • Expand the investment options for monies in the Revenue Stabilization Trust Fund by permitting a portion to be held in gold-related assets.
  • Align investment practices with novel asset classes while maintaining existing statutory investment authority.

Key Provisions

What the bill changes

  • Amends and reenacts R.S. 39:100.112(E)(1) to add a new authorized investment option.
  • Allows the treasurer to invest an aggregate amount up to 10% of monies in the RSTF in:
    • Gold bullion (uniform shapes/quantities such as ingots, bars, or plates; standard content and purity for bulk transaction use).
    • Gold specie (coins of uniform shape, size, design, content, and purity suitable as currency or for exchange/storage/transfer in retail/wholesale transactions).
    • Or a combination of both gold bullion and gold specie.

Administrative and implementation authorities

  • The treasurer may enter into contracts necessary to implement and administer the new authority.
  • This includes contracting with a depository to serve as custodian, guardian, and administrator of any bullion or specie acquired.

Effective date

  • Effective July 1, 2026.

Affected Parties and Scope

Who is affected

  • Louisiana Revenue Stabilization Trust Fund: funds and operations of the fund would be eligible for up to 10% investment in gold-related assets.
  • Louisiana State Treasurer: granted new investment authority and related contracting capabilities.

Financial and policy implications

  • Introduces exposure to gold bullion/specie as part of the trust’s investment mix alongside existing investment authorities (specifically, investments modeled after the Millennium Trust framework).
  • Creates potential diversification benefits (risk/return considerations) and new custodial/administrative requirements.

Procedural and Timeline Details

  • Governing statute: Amends R.S. 39:100.112(E)(1).
  • Implementation: Requires the treasurer to implement contracts and administrative arrangements for custody and administration of any gold assets.
  • Effective date: July 1, 2026, with the same effective date if vetoed and subsequently approved per legislative recourse.

Practical Considerations

  • Investment Cap: The 10% cap is aggregate across both gold bullion and gold specie.
  • Definitions:
    • Gold bullion: uniform shapes/quantities (ingots, bars, plates) suitable for bulk/wholesale precious metals transactions.
    • Gold specie: gold coins of uniform shape/size/design/content/purity suitable for currency/exchange/storage/transfer.
  • Risk/Return: Gold investments can offer diversification but may introduce price volatility, liquidity, and custody risk; the bill contemplates professional custodial arrangements.

Bottom Line

HB 610 broadens the Louisiana Revenue Stabilization Trust Fund’s permissible investments by authorizing up to 10% of fund monies to be invested in gold bullion and/or gold specie, with accompanying contracting and custodial provisions, effective July 1, 2026.

Compiled from official sources — confirm details with the bill’s official record.

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