House
File
2414
-
Introduced
HOUSE
FILE
2414
BY
SHIPLEY
A
BILL
FOR
An
Act
relating
to
the
investment
of
public
funds
in
precious
1
metals,
oil,
and
natural
gas.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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sc/ns
H.F.
2414
Section
1.
NEW
SECTION
.
12B.10D
General
fund
investment
1
allocations.
2
The
treasurer
of
state
shall
invest
twenty
percent
of
the
3
public
moneys
in
the
general
fund
of
the
state
in
gold,
silver,
4
platinum,
and
palladium
and
shall
invest
ten
percent
in
equity
5
interests
in
businesses
engaged
in
the
production
of
gold,
6
silver,
platinum,
palladium,
oil,
and
natural
gas.
7
EXPLANATION
8
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
9
the
explanation’s
substance
by
the
members
of
the
general
assembly.
10
This
bill
requires
the
treasurer
of
state
to
invest
20
11
percent
of
the
public
moneys
in
the
general
fund
of
the
state
12
in
gold,
silver,
platinum,
and
palladium
and
10
percent
in
13
equity
interests
in
businesses
engaged
in
the
production
of
14
gold,
silver,
platinum,
palladium,
oil,
and
natural
gas.
15
-1-
LSB
6017YH
(1)
91
sc/ns
1/
1