SENATE BILL 1314
RS31163 / S1314
Since the year 2000, the M2 money supply has grown by 350 percent. quadrupled. A quadrupling of the money supply will eventually accelerate the rate of inflation.
In other words, it has more than
By adding physical gold and silver to Idaho Code § 67-1210, the State Treasurer will be permitted to hold some protion of state funds in physical gold and silver to help secure state assets against the risk 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 forms of the metal like 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 or any bank or credit union with a class 1 vault and licensed by the Department of Finance.
| Date | Description |
|---|---|
| 02/09 | Introduced; read first time; referred to JR for Printing |
| 02/12 | Reported Printed; referred to State Affairs |
| 03/06 | Reported out of committee; to 14th Order for amendment |
| 03/07 | Placed in the Committee of the Whole |
| 03/07 | Reported out without recommendation, as amended |
| 03/07 | Amendments ordered printed; referred for engrossment |
| 03/07 | Amendments reported printed |
| 03/07 | Reported engrossed, filed for first reading, as amended |
| 03/07 | Read first time as amended, filed for Second Reading |
| 03/08 | Read second time as amended, filed for Third reading |
| 03/11 | Read third time in full as amended – PASSED - 25-9-1 AYES – Adams, Anthon, Bernt, Bjerke, Burtenshaw, Carlson, Cook, Foreman, Grow, Guthrie, Harris, Hart, Herndon, Lakey, Lee, Lenney, Lent, Nichols, Okuniewicz, Ricks, Toews(Toews), Trakel, VanOrden, Winder, Zuiderveld NAYS – Hartgen, Just, Rabe, Ruchti, Schroeder, Semmelroth, Taylor, Ward-Engelking, Wintrow Absent and excused – Den Hartog Floor Sponsor - Hart Title apvd - to House |
| 03/12 | Received from the Senate, Filed for First Reading |
| 03/12 | Read First Time, Referred to State Affairs |
| 03/26 | Reported out of Committee with Do Pass Recommendation, Filed for Second Reading |
| 03/27 | Read second time; Filed for Third Reading |
| 03/28 | Read Third Time in Full – PASSED - 36-33-1 AYES – Alfieri, Andrus, Barbieri, Boyle, Cannon, Crane(12), Crane(13), Dixon(1), Durrant, Ehardt, Ehlers, Erickson, Gallagher, Hawkins, Healey, Hill(Brown), Holtzclaw(Johnson), Horman, Kingsley, Lambert, Manwaring, Mendive, Miller, Mitchell, Monks, Pickett, Price, Redman, Scott, Shepherd, Skaug, Tanner, Vander Woude, Wisniewski, Young, Mr. Speaker NAYS – Achilles, Allgood, Berch, Blanksma, Bundy, Burns, Cheatum, Chew(Harada), Clow, Cornilles, Dixon(24), Furniss, Galaviz, Gannon, Garner, Green, Handy, Lanting, Mathias, McCann, Mickelsen, Necochea, Nelsen, Petzke, Raybould, Raymond, Roberts, Rubel, Sauter, Weber(Weber), Wheeler, Wroten, Yamamoto Absent – Palmer Floor Sponsor - Ehardt Title apvd - to Senate |
| 03/28 | Returned From House Passed; referred to enrolling |
| 03/28 | Reported enrolled; signed by President; to House for signature of Speaker |
| 03/29 | Received from Senate; Signed by Speaker; Returned to Senate |
| 04/02 | Reported signed by the Speaker & ordered delivered to Governor |