HF 2414 (LSB 6017YH (1) 91)

HOUSE FILE 2414

BY  SHIPLEY

A BILL FOR

An Act relating to the investment of public funds in precious metals, oil, and natural gas.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  NEW SECTION.  12B.10D  General fund investment allocations.
   The treasurer of state shall invest twenty percent of the public moneys in the general fund of the state in gold, silver, platinum, and palladium and shall invest ten percent in equity interests in businesses engaged in the production of gold, silver, platinum, palladium, oil, and natural gas.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill requires the treasurer of state to invest 20 percent of the public moneys in the general fund of the state in gold, silver, platinum, and palladium and 10 percent in equity interests in businesses engaged in the production of gold, silver, platinum, palladium, oil, and natural gas.