HB1121 • 2026

Precious metals commodities and virtual currency; investment of public funds.

<p class=ldtitle>A BILL to amend the Code of Virginia by adding sections numbered 2.2-4510.1 and 2.2-4510.2, relating to investment of public funds; precious metals commodities; virtual currency.</p>

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Walker
Last action: 2026-02-13
Official status: Failed
Effective date: Not listed

Plain English Breakdown

Checked against official source text during the last sync.

Public Funds Investment Rules

This law allows public entities in Virginia to invest money, except sinking funds, in precious metals commodities and virtual currencies under strict guidelines.

What This Bill Does

Allows public entities to invest public funds, except sinking funds, in exchange-traded products that focus on precious metals like gold, silver, platinum, and palladium.
Permits the same public entities to invest in virtual currencies.
Requires the Treasury Board to create strict rules for these investments.
Needs public entities to monitor their investments' performance to ensure compliance with guidelines.

Who It Names or Affects

Public entities such as the Commonwealth, municipal corporations, other political subdivisions, and public bodies in Virginia.

Terms To Know

Commodities Exchange-Traded Products (ETPs): Financial instruments traded on a U.S. regulated exchange that get their value from underlying commodity assets.
Virtual Currency: Digital or virtual form of money that can be used to buy goods and services online.

Limits and Unknowns

Investments in precious metals commodities and virtual currencies cannot last longer than five years.
The law does not specify what happens if an investment fails to comply with the guidelines.

Bill History

2026-02-13 Appropriations
Stricken from docket by Appropriations (22-Y 0-N)
2026-02-06 General Government and Capital Outlay
Subcommittee recommends striking from the docket (7-Y 0-N)
2026-02-03 General Government and Capital Outlay
Assigned HAPP sub: General Government and Capital Outlay
2026-02-03 General Laws
Referred from General Laws and referred to Appropriations (Voice Vote)
2026-01-21 House
Fiscal Impact Statement from Department of Planning and Budget (HB1121)
2026-01-14 House
Prefiled and ordered printed; Offered 01-14-2026 26102247D
2026-01-14 General Laws
Referred to Committee on General Laws

Official Summary Text

Investment of public funds; precious metals commodities; virtual currency.
Authorizes public entities to invest public funds, except sinking funds, in (i) commodities exchange-traded products, defined in the bill, that invest in precious metals and (ii) virtual currencies. The bill requires the Treasury Board to establish and maintain strict guidelines concerning any investments authorized in the bill and requires public entities making such investments to monitor the performance of such investments for compliance with the guidelines.

Current Bill Text

Read the full stored bill text

A BILL to amend the Code of Virginia by adding sections numbered
2.2-4510.1
and
2.2-4510.2
, relating to investment of public funds; precious metals commodities; virtual currency.

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding sections numbered
2.2-4510.1
and
2.2-4510.2
as follows:

§
2.2-4510
.
1.
Investment of funds in
precious metals
commodities.

A. For the purposes of this section:

"
Commodities
Exchange-Traded
Product
s
" and "
Commodities
ET
P
s
"
mean
s
a
ny
financial instrument that is approved by the Securities Exchange Commission or the Commodities Future Trading Commission
that is traded on a United States regulated exchange and derives its value from an underlying pool of commodity assets.
"
Commodities
ETPs" include
s

Exchange-Traded Funds, Exchange-Traded Commodities, and Exchange-Traded Notes.

"Precious
metals"
includes
gold, silver, platinum
,
and
palladium.

B
. Notwithstanding any provision of law to the contrary, the Commonwealth
and
all public officers, municipal corporations, other political subdivisions
,
and other public bodies of the Commonwealth may invest any and all moneys belonging to them or within their control, other than sinking funds, in Commodities
ETPs
that
are restricted to investments
solely in
precious metals commodities
, provided that no such investment
shall remain continuously invested in any Commodities ETPs for a period of
more than five years
.

C
. The
Commonwealth
Treasury Board shall establish
and maintain
strict guidelines concerning
any

investments
in Commodities ETPs
authorized pursuant to this section
.

D
. The Commonwealth

and
any public officers, municipal corporations, other political subdivisions
,
or other public bodies of the Commonwealth
that invest
in Commodities
ETPs
pursuant to

this section shall
monitor the performance of
such
investmen
ts
for compliance with the investment guidelines
established
pursuant to subsection
C
.

§
2.2-4510.2
. Investment of funds in virtual currencies.

A.
For the purposes of this section, "virtual currenc
y"

means
the same
as th
at
term
is
de
fined
in §
6.2-818.1
.

B
. Notwithstanding any provision of law to the contrary, the Commonwealth
and
all public officers, municipal corporations, other political subdivisions
,
and other public bodies of the Commonwealth may invest any and all moneys belonging to them or within their control, other than sinking funds, in virtual currencies, provided that no such investment

shall remain continuously invested in any virtual currency for a period of more than five years.

C
. The Treasury Board shall establish and maintain strict guidelines concerning any investments in virtual currencies authorized pursuant to this section.

D
. The Commonwealth
and
any public officers, municipal corporations, other political subdivisions
,
or other public bodies of the Commonwealth that invest in
virtual currencies
pursuant to this section shall monitor the performance of such investments for compliance with the investment guidelines
established
pursuant to subsection C.