HOUSE BILL 180
RS30289 / H0180
In the last 18 years, the money supply has grown by 200 percent, in other words, it has tripled. A tripling of the money supply will eventually accelerate the rate of inflation.
By adding physical gold and silver to Idaho Code 67-1210, the State Treasurer will be permitted to hold some portion of state funds in physical gold and silver to help secure state assets against the risks of inflation and financial turmoil and/or to achieve capital gains as measured in Federal Reserve Notes.
The new authority will be confined to holding gold and silver directly and in a manner that does not assume the counter party risks involved with other current state holdings, such as corporate bonds, treasury bills, and other debt instruments. This measure does not empower the State Treasurer to invest in paper instruments, futures contracts, or other gold and silver derivatives. The authority is confined to physical gold and silver, directly owned by the state and stored in a secure depository.
| Date | Description |
|---|---|
| 02/21 | Introduced, read first time, referred to JRA for Printing |
| 02/22 | Reported Printed and Referred to State Affairs |
| 02/28 | Reported out of Committee with Do Pass Recommendation, Filed for Second Reading |
| 03/01 | Read second time; Filed for Third Reading |
| 03/02 | Read Third Time in Full – PASSED - 40-29-1 AYES – Alfieri, Andrus, Barbieri, Blanksma, Boyle, Bundy, Cannon, Cornilles, Crane(12), Crane(13), Dixon(1), Durrant, Ehardt, Ehlers, Gallagher, Hawkins, Healey, Hill, Holtzclaw, Horman, Kingsley(Crawford), Lambert, Manwaring, Mendive, Miller, Mitchell, Monks, Palmer, Pickett, Price, Redman, Scott, Shepherd, Skaug, Tanner, Vander Woude, Wisniewski, Wroten, Young, Mr. Speaker NAYS – Allgood, Berch, Burns, Cheatum, Chew, Clow, Dixon(24), Erickson, Furniss, Galaviz, Gannon, Garner, Handy, Lanting, Mathias, McCann, Mickelsen, Nash, Necochea, Nelsen, Petzke, Raybould, Raymond, Roberts, Rubel, Sauter, Weber, Wheeler, Yamamoto Absent – Green Floor Sponsor - Ehardt Title apvd - to Senate |
| 03/03 | Received from the House passed; filed for first reading |
| Introduced, read first time; referred to: State Affairs |