# 119-hr-8007: SILVER Act

119-hr-8007, SILVER Act, is a 119th Congress bill sponsored by Rep. Fulcher, Russ [R-ID-1] (R-ID); status introduced; PRIA reads it as touching household money (as of 2026-10-30).

- Canonical: https://policyrisk.com/legislation/119-hr-8007
- As of: 2026-10-30
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-8007
- Congress: 119
- Title: SILVER Act
- Status: introduced
- Introduced: 2026-03-19
- Sponsor: Rep. Fulcher, Russ [R-ID-1] (R-ID)
- Cosponsors: 10
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-10-30

## Summary

**Geographic diversity of precious metals depositories to reduce systemic risk.** This bill would require derivatives clearing organizations to formally approve and diversify storage sites for gold, silver, platinum, and palladium using clear, public criteria to boost resilience and competition. - Market participants and traders would get more resilient physical settlement and better access to stored metals by reducing concentration of storage locations. - Depositories and other metal service providers would face a formal application and approval process that weighs geographic diversity, competition, risk management, storage costs, and a public-interest standard. - Derivatives clearing organizations would have to use objective selection criteria and select at least two approved depositories in each U.S. time zone to support liquidity, market access, and cost efficiency.

## Cosponsors (10)

- Rep. Thanedar, Shri [D-MI-13] (D-MI), 2026-09-28T00:00:00.000Z
- Rep. Hageman, Harriet M. [R-WY-At Large] (R-WY), 2026-10-01T00:00:00.000Z
- Rep. Moore, Tim [R-NC-14] (R-NC), 2026-10-22T00:00:00.000Z
- Rep. Harrigan, Pat [R-NC-10] (R-NC), 2026-10-26T00:00:00.000Z
- Rep. Harris, Mark [R-NC-8] (R-NC), 2026-03-19T00:00:00.000Z
- Rep. Lee, Susie [D-NV-3] (D-NV), 2026-06-04T00:00:00.000Z
- Rep. Rose, John W. [R-TN-6] (R-TN), 2026-06-23T00:00:00.000Z
- Rep. McDowell, Addison P. [R-NC-6] (R-NC), 2026-06-24T00:00:00.000Z
- Rep. Miller, Mary E. [R-IL-15] (R-IL), 2026-07-14T00:00:00.000Z
- Rep. Amodei, Mark E. [R-NV-2] (R-NV), 2026-08-10T00:00:00.000Z

## Provisions PRIA read

- New rules for precious metal depositories: mixed, low. If enacted, this bill would require derivatives clearing organizations to use clear, published rules to pick depositories that store precious metals for futures contracts. Precious metals are defined as gold, silver, platinum, and palladium. The bill would require a formal application process, obje…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-452: Miracle on Ice Congressional Gold Medal Act
- 119-hr-979: AM Radio for Every Vehicle Act of 2025
- 119-hr-1628: 761st Tank Battalion Congressional Gold Medal Act
- 119-hr-425: Repealing Big Brother Overreach Act
- 119-hr-38: Constitutional Concealed Carry Reciprocity Act of 2025

## Sources
- [119-hr-8007 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/8007)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-452: Miracle on Ice Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-452)
- [119-hr-979: AM Radio for Every Vehicle Act of 2025](https://policyrisk.com/legislation/119-hr-979)
- [119-hr-1628: 761st Tank Battalion Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-1628)
- [119-hr-425: Repealing Big Brother Overreach Act](https://policyrisk.com/legislation/119-hr-425)
- [119-hr-38: Constitutional Concealed Carry Reciprocity Act of 2025](https://policyrisk.com/legislation/119-hr-38)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-8007 (as of 2026-10-30).