North Dakota’s Legislature is revisiting a proposal to invest $40 million in gold and silver after a narrow initial defeat. House Bill 1183 seeks to direct the state treasurer to allocate 1% of general fund deposits into these metals for the 2027-2029 period. Proponents argue this could enhance the state’s economic stability, citing significant potential gains from past investments. However, concerns linger over storage, safety, and existing investment authority. The bill now moves to the Senate following a revised vote of 54-35. Peyton Haug with Inforum has the full story; bill details can be found below.
HB 1183
A BILL for an Act to create and enact a new section to chapter 54-11 of the North Dakota Century Code, relating to gold and silver investments; to provide a report; and to provide an effective date.
House Sponsors: D. Johnston (R, District 24), Hendrix (R, District 10), Kasper (R, District 46), Koppelman (R, District 16), S. Olson (R, District 8), D. Ruby (R, District 38), Schauer (R, District 13), Toman (R, District 34), Vetter (R, District 18),
Senate Sponsors: Enget (R, District 2), Paulson (R, District 3), Weston (R, District 15),
