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HB 440

Treasurer, State - As introduced, allows the state treasurer to enter into an agreement with an entity to carry out certain activities in order to serve as a facility to securely produce, store, process, and ship bullion products for the state's depository. - Amends TCA Title 9, Chapter 4.

114th Regular Session (2025-2026) Introduced by Bud Hulsey

Tennessee authorizes its treasurer to contract with a private entity to operate a secure bullion production, storage, and shipping facility for state depository assets.

Placed behind the budget
#state #treasurer
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Bill Summary · HB 440

Legislative bill overview

HB 440 authorizes Tennessee's state treasurer to contract with a private entity to establish and operate a secure facility for producing, storing, processing, and shipping bullion (gold and silver) products held in the state's depository. The bill amends Tennessee Code Annotated Title 9, Chapter 4, which governs the state treasurer's responsibilities and the state depository system.

Why is this important

This legislation would enable Tennessee to develop in-state bullion handling infrastructure, potentially reducing costs associated with transporting precious metals to out-of-state facilities and increasing operational control over the state's bullion assets. It reflects growing state-level interest in alternative asset management and precious metals custody, which some view as a hedge against currency instability.

Potential points of contention

  • Cost and necessity: Critics may question whether establishing this infrastructure is economically justified when existing depository services already exist, and whether state funds should subsidize bullion operations with unclear ROI
  • Scope of contractor authority: The bill's language allowing an "entity" to carry out these activities raises questions about oversight, liability, and whether sufficient safeguards exist to prevent mismanagement or fraud
  • Purpose and ideology: The bill may reflect a particular political view about precious metals as alternative currency or financial security, which some lawmakers may view as ideologically driven rather than practically necessary

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

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