Relating to the issuance of gold and silver specie and the establishment of a currency based on gold and silver; authorizing a fee.

HB 1049 would establish a Texas-issued currency backed by physical gold and silver held in a state-managed depository. It authorizes the comptroller to create this currency, representing specific fractions of a troy ounce of gold or silver, and requires it to function as legal tender for debt payments. The bill mandates electronic transfer capabilities for the currency and designates the Texas Bullion Depository as the exclusive issuer. It also authorizes a fee to cover administrative costs, though specific fee amounts are not detailed in the provided text. This bill is procedural in nature, creating a new currency framework rather than altering existing laws.