The New Hampshire Legislature convened on April 10, 2025, to discuss House Bill 302, which aims to enable the state treasury to invest in precious metals and digital assets. The session featured a significant debate over the bill's implications and the authority of the state treasurer.

The meeting began with a vote on an amendment, which ultimately failed. Following this, the committee on ways and means presented their recommendation for the bill to pass. Representative Jordan Ullery spoke on behalf of the majority, while Representative Terry Spier represented the minority, expressing concerns about the necessity of the bill.

Spier highlighted that the state treasurer already possesses the authority to invest in cryptocurrencies and precious metals, a fact that was not fully acknowledged during the committee's discussions. He argued that the bill's provisions, while well-intentioned, could impose unnecessary restrictions on the treasurer's ability to adapt to the rapidly changing landscape of digital investments.

Representative Bruelery added that the bill is permissive, allowing for a strategic reserve fund while imposing a 5% cap on investments in these areas. He emphasized that the bill could potentially generate significant revenue for the state without impacting taxpayers.

As the discussion progressed, several representatives raised parliamentary inquiries, questioning the necessity of the bill given the existing authority and safeguards in place for the treasurer. The session concluded with a division vote on the majority committee report, indicating a continued interest in the bill's future and its potential impact on state investments.

The outcome of this meeting underscores the ongoing dialogue within the legislature regarding the management of state funds and the evolving nature of investment opportunities in the digital age. Further discussions and votes will determine the final fate of House Bill 302.