Enacting the Kansas bullion depository act to authorize the state treasurer to establish, administer or contract for the administration of bullion depositories and allowing for state moneys to be deposited in such bullion depositories and invested in specie legal tender.

SB 115 authorizes Kansas state funds to be stored in bullion depositories holding gold or silver coins (specie legal tender) instead of traditional bank accounts. The Kansas state treasurer can establish, manage, or contract with secure depositories to hold state moneys as physical bullion, defined as refined gold or silver coins meeting purity and weight standards. This law amends existing state finance statutes to allow state agencies and entities to deposit funds into these specialized depositories, treating gold/silver coins as equivalent to cash for state financial operations. The bill directly affects the state treasurer's office and state financial management practices, creating a new framework for storing public funds in physical precious metals.