HB 610

HLS 26RS-1051  REENGROSSED
 2026 Regular Session
 HOUSE BILL NO. 610
 BY REPRESENTATIVE CREWS
 FUNDS/FUNDING: Authorizes the state treasurer to invest up to ten percent of available
  monies in the Revenue Stabilization Trust Fund in gold
1AN ACT
2 To amend and reenact R.S. 39:100.112(E)(1), relative to monies in the state treasury; to
3provide relative to the powers and duties of the state treasurer; to provide relative to
4investment of certain monies in the state treasury; to provide for definitions; to
5provide for implementation and administration; to provide for an effective date; and
6to provide for related matters.
7 Be it enacted by the Legislature of Louisiana:
8Section 1. R.S. 39:100.112(E)(1) is hereby amended and reenacted to read as
9 follows:
10§100.112. Revenue Stabilization Trust Fund
11*       *  *
12E.(1)(a) Except as provided for in Subsection F of this Section, monies
13deposited into the Revenue Stabilization Trust Fund shall be permanently credited
14to the trust fund and shall be invested by the treasurer in the same manner as
15investments of the Millennium Trust, as provided in R.S. 39:98.2.
16(b) Notwithstanding the provisions of Subparagraph (a) of this Paragraph
17regarding investment of monies in the fund, an aggregate amount not to exceed ten
18percent of monies in the fund may be invested in gold bullion, gold specie, or both.
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 CODING: Words in struck through type are deletions from existing law; words underscored
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 HLS 26RS-1051  REENGROSSED
  HB NO. 610
1For the purposes of this Subparagraph, the term "gold bullion" means gold formed
2into uniform shapes and quantities such as ingots, bars, or plates, with uniform
3content and purity as are suitable for or customarily used in the purchase, sale,
4storage, transfer, and delivery of bulk or wholesale transactions in precious metals.
5For the purposes of this Subparagraph, the term "gold specie" means gold stamped
6into coins of uniform shape, size, design, content, and purity suitable for or
7customarily used as currency; as a medium of exchange; or as the medium for
8purchase, sale, storage, transfer, or delivery of precious metals in retail or wholesale
9transactions.
10*       *  *
11Section 2. The state treasurer is hereby authorized and directed to enter into any
12 contracts necessary for the implementation and administration of the provisions of this Act,
13 including contracting with a depository to serve as the custodian, guardian, and administrator
14 of any bullion or specie that may be acquired pursuant to the provisions of this Act.
15Section 3. This Act shall take effect and become operative if and when the proposed
16 amendment of Article VII, Section 14(B) of the Constitution of Louisiana contained in the
17 Act which originated as House Bill No. 603 of this 2026 Regular Session of the Legislature
18 is adopted at a statewide election and becomes effective.
  DIGEST
 The digest printed below was prepared by House Legislative Services. It constitutes no part
 of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
 part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
 HB 610 Reengrossed  2026 Regular Session  Crews
 Abstract: Authorizes the state treasurer to invest up to 10% of monies in the Revenue
  Stabilization Trust Fund ("trust fund") in gold bullion, gold specie, or both.
 Present constitution (Art. VII, Sec. 10.15) establishes the trust fund as a special fund in the
 state treasury and provides for the deposit and use of monies in the trust fund. Further
 provides that monies in the trust fund shall be invested by the treasurer in a manner provided
 for by law.
 Present law (R.S. 39:100.112) requires the treasurer to invest monies in the trust fund in the
 same manner as investments of the Millennium Trust. Proposed law adds an authorization
 for the treasurer to invest an aggregate amount up to 10% of monies in the trust fund in gold
 bullion, gold specie, or both. Defines "gold bullion" as gold formed into uniform shapes and
 quantities such as ingots, bars, or plates, with uniform content and purity as are suitable for
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 CODING: Words in struck through type are deletions from existing law; words underscored
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HLS 26RS-1051  REENGROSSED
  HB NO. 610
or customarily used in the purchase, sale, storage, transfer, and delivery of bulk or wholesale
transactions in precious metals. Defines "gold specie" as gold stamped into coins of uniform
shape, size, design, content, and purity suitable for or customarily used as currency; as a
medium of exchange; or as the medium for purchase, sale, storage, transfer, or delivery of
precious metals in retail or wholesale transactions.
Proposed law further authorizes the treasurer to enter into any contracts necessary for the
implementation and administration of proposed law, including contracting with a depository
for the gold bullion and gold specie.
Effective if and when the proposed amendment of Article VII of the Constitution of La.
contained in the Act which originated as House Bill No. 603 of this 2026 R.S. of the
Legislature is adopted at a statewide election and becomes effective.
(Amends R.S. 39:100.112(E)(1))
Summary of Amendments Adopted by House
   The House Floor Amendments to the engrossed bill:
   1.      Change effective date of proposed law from July 1, 2026, to if and when House
  Bill No. 603 of this 2026 R.S. is adopted at a statewide election and become
  effective.
   2.      Make technical and conforming changes.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.