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Read. Follow. Verify.Idaho Senate Bill 1421 Authorizes State Investment in Physical Gold and Silver up to 7.5 Percent
Last action · March 24, 2026: Reported Printed; referred to State Affairs
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What This Bill Proposed
Idaho allows the state investment board and retirement system funding agents to invest in physical gold and silver up to a maximum of 7.5 percent of invested moneys, effective July 1, 2026. The legislation establishes strict storage requirements, mandating that the precious metals be kept in secure depositories within Idaho, a contiguous state, or Texas, or in qualifying in-state banks and credit unions.
Changes the asset allocation rules for state , , and public employee retirement assets by permitting precious metal holdings backed by mandatory insurance, independent audits, and specific vault standards.
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
Idaho state investment board
The board gains explicit authorization and policy-making power to include physical gold and silver in state investment portfolios up to a 7.5 percent cap.
Idaho Department of Finance
The department is assigned the responsibility to ensure that gold and silver held in qualifying depositories is insured, independently audited, and physically segregated.
Key Facts
- Permits the investment of permanent endowment funds, earnings reserve funds, and public retirement system assets in physical gold and silver.
- Caps the maximum allowed investment in physical gold and silver at seven and one-half percent (7.5%) of the moneys invested pursuant to the affected sections.
- Requires physical gold and silver to be maintained securely in a depository constructed to industry standards located within Idaho, a contiguous state, or Texas, and insured, independently audited, and physically segregated.
- Allows direct ownership storage in a bank chartered under the Idaho bank act or a credit union organized under the Idaho credit union act within Idaho if stored in a class 1 vault.
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- Tasks the Idaho department of finance with ensuring that qualifying precious metal deposits are insured, independently audited, and physically segregated from other assets.
Frequently Asked Questions
What is the maximum amount of state funds that can be invested in gold and silver?
Where can the physical gold and silver be stored?
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News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in Senate committee.
Procedural history
2 actions- Mar 24, 2026CommitteeReported Printed; referred to State Affairs
- Mar 23, 2026IntroducedIntroduced; read first time; referred to JR for Printing
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Connected Entities
Sources
legislature.idaho.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 65)
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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