The legislation would make gold and silver specie legal tender in the state, recognizing it as a medium of exchange for the payment of debts. In effect, gold and silver specie would be treated as money, putting it on par with Federal Reserve notes in Alaska.
The post Alaska Committee Passes Bill to Treat Gold and Silver as Money first appeared on Tenth Amendment Center.
In establishing gold and silver specie, the comptroller would be required to authorize the Texas Bullion Depository as issuer and ensure that the holder of the specie may use the specie as legal tender in payment of debt and readily transfer the specie to another person.
The post Texas Committee Passes Bill to Create 100% Reserve Gold and Silver-Backed Transactional Currencies first appeared on Tenth Amendment Center.
The legislation would require the state comptroller to establish a digital currency that is fully backed by gold and fully redeemable in cash or gold as well. The comptroller would also be required to create a mechanism to use this gold-backed digital currency in everyday transactions.
The post Texas Committee Holds Hearing on Bill to Create 100% Reserve Gold-Backed Digital Currency first appeared on Tenth Amendment Center.
Despite the fact that the legislation only allows for the state to invest funds in precious metals, but does not require it, the Maine Office of the State Treasurer lobbied against the bill in a hearing on April 26.
The post Maine Committee Holds Hearing on Bill to Authorize Investment of State Funds in Gold and Silver first appeared on Tenth Amendment Center.
Repealing sales taxes on precious metal bullion takes a step toward treating gold and silver as money instead of commodities. Taxes on precious metal bullion erect barriers to using gold and silver as money by raising transaction costs
The post Signed as Law: Mississippi Takes First Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.
The legislation would make gold and silver in coin or bar form legal tender for all transactions as long as the buyer and seller agree as to the fair market value of the metal.
The post Maine Committee Passes Bill to Make Gold and Silver Legal Tender in the State first appeared on Tenth Amendment Center.
The law makes “gold and silver specie” legal tender in the state, meaning it is recognized as a medium of exchange. Practically speaking, this will allow Arkansans to use gold or silver coins as money rather than just as mere investment vehicles.
The post Signed by the Governor: Arkansas Law Makes Gold and Silver Legal Tender in the State first appeared on Tenth Amendment Center.
The legislation would take steps to treat gold and silver as money in Missouri and encourage its use as such, including making it legal tender, and eliminating the state capital gains tax on gold and silver. It would also prohibit any public entity of the state from requiring payment in the form of any digital currency, including a central bank digital currency (CBDC).
The post Missouri House Committee Passes Bill to Treat Gold and Silver as Legal Tender first appeared on Tenth Amendment Center.
The legislation would exempt the sale of gold and silver coins and bullion from the state sales and use tax effective Jan. 1, 2024.
The post Maine Committee Approves Bill That Would Take Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.
The legislation would make gold and silver in coin or bar form legal tender for all transactions as long as the buyer and seller agree as to the fair market value of the metal. The bill would also exempt the sale of gold and silver legal tender from the state sales and use tax.
The post Maine Committee Holds Hearing on Bill to Treat Gold and Silver as Money first appeared on Tenth Amendment Center.