GOLD AND SILVER – Amends existing law to provide for investment in physical gold and silver in certain instances, to provide for storage of physical gold and silver, and to provide for a maximum allowed investment.

This bill allows Idaho state funds and pension assets to be invested in physical gold and silver, expanding investment options beyond traditional financial instruments. It authorizes the state investment board and pension fund managers to allocate up to 7.5% of their invested money into physical precious metals, which must be stored in secure depositories meeting industry standards within Idaho, neighboring states, or Texas. The law requires that any gold and silver held be insured, independently audited, and physically separated from other assets, with storage permitted in qualified bank vaults or specialized precious metals depositories. These changes apply to both state permanent endowment funds and pension system assets, with provisions for annual audits and clear guidelines on investment policies.