Texas Gov. Greg Abbott Tweets Statement After Signing House Bill 483 Into Legislation

After successfully signing House Bill 483 into state law in the 84th Texas legislative session on June 12, 2015, Gov. Greg Abbott tweeted the announcement to his Twitter followers in a clever post: "California may be the golden state, but Texans deserve to keep their gold in-state!"

The tweet also contained a link to the official signature statement that was released on the official website of the Texas governor's office earlier that day. Prefacing the Texas governor's direct comment on the legislation, the statement informs that establishing a state bullion depository in Texas – now permitted with the law's passage – would allow for the repatriation of an estimated $1 billion worth of gold from New York to Texas.

Gov. Abbott then included a quote on his personal reasoning behind enacting the law: "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."

Governor Greg Abbott Signs Bill to Establish a Sta...
Transactions in Precious Metals

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