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House committee advances constitutional amendment to allow state investment in gold and digital assets; members warn about Bitcoin exposure
Summary
HB603 would amend the constitution to authorize state investments in precious metals and 'digital assets.' The Civil Law Committee reported the measure favorably on a 5–3 roll call after lawmakers questioned whether Bitcoin or pensions would be exposed and asked how implementation would be controlled.
The Civil Law Committee voted 5–3 to report HB603, a constitutional amendment sponsored by Representative Wright that would authorize the state to invest public funds in precious metals and certain digital assets pending statutory implementation.
Representative Wright told the committee the amendment is ballot language intended to allow the state to hedge against long‑term dollar devaluation by permitting investments in gold and tokenized or other digital assets; he said details about what specific instruments would be allowed and how they would be managed would be set later by statute and by the…
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