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Bills › 91st General Assembly

HF 2723Died when the session ended · February 24, 2026

Relating to the use of specie as legal tender

Sponsored by the House Commerce Committee, Rep. Jennifer J. Smith (R)

Same legislation: SF 2195, HF 2311

Also covers SF 2195 and HF 2311.

Official bill pageLobbyist declarations

Progress

  1. Introduced
    February 24, 2026
  2. Subcommittee
    —
  3. Committee
    —
  4. Passed House
    —
  5. Passed Senate
    —
  6. Signed
    —

Died at end of session The General Assembly adjourned on May 3, 2026. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

This bill provides that specie, defined in the bill, is legal tender in this state and that a person is not required to accept specie as payment. The bill requires the treasurer of state (treasurer) to establish or contract with one or more bullion depositories for the secure storage of bullion, authorize one or more electronic payment systems to facilitate transactions, and adopt rules to implement the bill. Each bullion depository approved by the treasurer must have a contractual relationship with each electronic payment system that is authorized by the treasurer and must insure each deposit under an insurance policy for the full replacement of the deposit.

Read the full explanation

A deposit made in a bullion depository approved by the treasurer is the sole property of the account holder. The treasurer must submit an annual report to the general assembly on approved bullion depositories, authorized electronic payment systems, and the economic impact of recognizing specie as legal tender. The bill provides that transactional gold and silver shall not be used by the state or a public entity as a mechanism for surveillance or social credit scoring. The bill states that a transaction entered into by a person which involves the exchange of specie for some medium of exchange other than specie shall not be subject to any sales, excise, gross receipts, income, capital gains, or other form of tax or public charge under the laws of this state. The purchase, sale, or exchange of specie shall also not be subject to any sales, excise, gross receipts, income, capital gains, or other form of tax or charge authorized under the laws of this state. The treasurer must implement the provisions of the bill by July 1, 2027.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text

History

All 1 actions
2026 session · second year of the 91st General Assembly
February 24, 2026
Introduced, referred to Ways and Means. H.J. 402. Journal

Meetings

Votes

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Lobbyist declarations

For · 1Against · 1Undecided · 5

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