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TO CREATE THE SOUTH CAROLINA REPOSITORY STUDY COMMITTEE TO DETERMINE THE FEASIBILITY AND EFFICACY OF THE ESTABLISHMENT OF A REPOSITORY IN THIS STATE TO STORE GOLD, SILVER, AND OTHER METALS FOR THE STATE'S RESERVES AND FOR INVESTMENTS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. (A) There is created the South Carolina Repository Study Committee to determine the feasibility and efficacy of the establishment of a repository in this State to store gold, silver, platinum bullion, and any combination of this bullion for the State's reserves and for investments made by the State and its political subdivisions, including the Retirement System Investment Commission.
(B) The committee must be comprised of:
(1) one member appointed by the President of the Senate;
(2) one member appointed by the Speaker of the House of Representatives;
(3) one member appointed by the Chairman of the Senate Banking and Insurance Committee;
(4) one member appointed by the Chairman of the House Labor, Commerce and Industry Committee;
(5) one member appointed by the Governor;
(6) the State Treasurer, or his designee; and
(7) the chairman of the Retirement System Investment Commission, or his deginee.
(C) The committee shall issue a report of its findings to the General Assembly by January 15, 2022, at which time the committee is dissolved.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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