Revenue Committee debates ‘Wyoming Gold Act’ and lays bill over after discussion of storage, investment and study

Summary

Senate File 96 (the Wyoming Gold Act) would authorize the state treasurer to hold precious metals and require a study of accepting gold and silver as payment; the committee discussed guard/insurance, investment performance and who should conduct a study and decided to lay the bill over for further amendments and review.

Senate File 96, introduced by Senator Bob Ide of Natrona County, would authorize the state treasurer to hold up to $10 million in specie (gold and silver) across state-managed accounts and require a treasurer-conducted study on the role of precious metals in state stabilization. The Revenue Committee discussed investment performance, security and whether rulemaking or the legislature should commission the study.

Sponsor Senator Bob Ide framed the bill as a limited, precautionary diversification. “The state treasurer shall implement this article by holding no less than $10,000,000 in specie,” Ide said while describing the measure’s goal of preserving capital and hedging inflation and other risks. He described the proposal as “a minimal amount” intended to put the state “on the map” for holding physical precious metals and asked the committee for a favorable recommendation.

Dawn Williams, deputy state treasurer,…

Revenue Committee debates ‘Wyoming Gold Act’ and lays bill over after discussion of storage, investment and study

Summary

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