The Texas Governor's office issued a press release today stating that Governor Abbott has signed House Bill 483 (Capriglione, R-Southlake; Kolkhorst, R-Brenham) which establishes a state bullion depository to be administered by the Texas Office of the Comptroller.
The signing of this bill is estimated to bring $1 billion of Texas owned gold bullion back to Texas from it's current home in New York.
The press release stated, "The bullion depository will serve as the custodian, guardian and administrator of bullion that may be transferred to or otherwise acquired by the State of Texas."
Governor Abbott also issued the following statement:
"Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state."