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HB 697: State Legal Tender and Bullion Depository

GENERAL BILL by Bankson ; LaMarca ; (CO-INTRODUCERS) Borrero ; Caruso ; Holcomb ; Plakon ; Porras

State Legal Tender and Bullion Depository; Provides specie legal tender & electronic currency are legal tender; provides bullion is not personal property for taxation & regulatory purposes; requires DFS to establish & administer bullion depository; authorizes governmental entities to use depositories for storing bullion; authorizes State Treasury to deposit portion of its funds into depositories in form of bullion; requires CFO to establish electronic currencies backed by specie legal tender & other bullion; requires CFO to hold specie legal tender & other bullion as bailment for specified purposes.

Effective Date: 7/1/2024
Last Action: 3/8/2024 House - Died in State Affairs Committee
Bill Text: PDF

Bill History

Date Chamber Action
12/4/2023 House • Filed
12/19/2023 House • Referred to State Affairs Committee
• Referred to Ways & Means Committee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in State Affairs Committee
1/9/2024 House • 1st Reading (Original Filed Version)
3/8/2024 House • Died in State Affairs Committee