The Creation of the First Ever State Authorized Bullion Depository

The Texas Bullion Depository Bill was signed into law by Governor Greg Abbott on June 12, 2015, officially establishing the first ever state-administered precious metals bullion depository (HB 483; originally filed and submitted by Rep. Giovanni Capriglione (R - Southlake)). The establishment of the Texas Bullion Depository creates an official depository operation by the State of Texas, with depository services provided by Lone Star Tangible Assets of Austin, Texas.

"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." - Texas Governor Greg Abbott

The law provides for a depository administrator who is charged with oversight of the depository operations to ensure compliance with the law. The Comptroller of Public Accounts appoints the depository administrator. You can learn more about the creation of the depository, the launch of future services and how the depository will be administered by reviewing the links below.