PREFILED    JAN 04 2017

REFERENCE TITLE: gold bonds; study committee

 

 

 

State of Arizona

House of Representatives

Fifty-third Legislature

First Regular Session

2017

 

 

HB 2015

 

Introduced by

Representative Finchem

 

 

AN ACT

 

establishing a joint study committee on gold bonds.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Joint study committee on gold bonds; membership; duties; report; delayed repeal

A.  The joint study committee on gold bonds is established consisting of the following members:

1.  Two members of the senate who are appointed by the president of the senate and who represent different political parties.  The president of the senate shall designate one of these members to serve as cochairperson of the committee.

2.  Two members of the house of representatives who are appointed by the speaker of the house of representatives and who represent different political parties.  The speaker of the house of representatives shall designate one of these members to serve as cochairperson of the committee.

3.  Two members of the public who are appointed by the governor.

4.  One member who represents credit unions and who is appointed by the president of the senate.

5.  One member who represents banks and who is appointed by the speaker of the house of representatives.

6.  Two members who each represent a different native American tribe in this state, one of whom is appointed by the president of the senate and one of whom is appointed by the speaker of the house of representatives.

7.  The state treasurer or the state treasurer's designee.

B.  The committee shall study the use of gold bonds as hard asset‑backed instruments to reduce state debt and protect public pension obligations of this state.

C.  The committee shall submit a report regarding the committee's findings and recommendations on or before December 31, 2017 to the governor, the president of the senate and the speaker of the house of representatives and provide a copy of this report to the secretary of state.

D.  This section is repealed from and after September 30, 2018.