SB 167

This bill requires the state treasurer to (i) enter into an agreement with an eligible entity to carry out covered activities in order to serve as the state mint and upon completion of such covered activities, designating it as the state mint; and (ii) promulgate rules to effectuate the operations of the state mint established in this bill. A "covered activity"" means (i) making capital improvements, including construction, reconstruc tion, and nonroutine maintenance of a structure, infrastructure, or improvement relating to the operation of, or access to, a facility to produce bullion products in uniform shapes; (ii) receiving orders from the state for the production of such bullion p r oducts and shipping them to locations designated by the state treasurer in a state depository; and (iii) another activity necessary to operate or maintain the facility of an eligible entity. As used in this bill, an ""eligible entity"" means an entity with (i) previous or current contracts with the federal government and other governmental entities to produce coinage products in uniform shapes to be stamped by the respective governments into official coin products; (ii) a written comprehensive plan to buil d all facilities necessary for operation of the Tennessee m int, which comply with the requirements of this bill; and (iii) U.S. domicile and ownership, operating for over 50 years as a manufacturer, with not less than 40 of such years manufacturing coinage products in uniform shape for coin products."