Individual US States push for gold and silver legalization

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BATON ROUGE, La. (May 15, 2024) – Today, the Louisiana House unanimously passed a bill that would make gold and silver legal tender in the state.

Sen. Mark Abraham filed Senate Bill 232 (SB232) on March 1. Under the proposed law, “any gold or silver coin, specie or bullion issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”

On May 15, the House passed SB232 by a 92-0 vote with some technical amendments. The Senate previously passed the bill by a 39-0 vote. It now goes back to the Senate for final consideration.

Louisiana House Passes Bill to Make Gold and Silver Legal Tender | Tenth Amendment Center

Under the proposed law, “any gold or silver coin, specie or bullion issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”
blog.tenthamendmentcenter.com
 

Signed as Law: Alabama Repeals State Capital Gains Taxes on Gold and Silver | Tenth Amendment Center

Under the law, individuals selling gold or silver bullion, or utilizing gold and silver in a transaction, can deduct any net capital gain derived from the exchange from their income for state income tax purposes.
blog.tenthamendmentcenter.com
 

Update:

TRENTON, N.J. (June 4, 2024) – Yesterday, a New Jersey Assembly committee unanimously passed a bill that would exempt gold and silver bullion from state sales and use taxes. It previously passed the full Senate.

Sen. Douglas Steinhardt and a bipartisan coalition of five cosponsors introduced Senate Bill 721 (S721) on Jan. 9. The legislation would exempt the sale of investment metal bullion (bars and coins) and investment coins from the state sales and use tax.

New Jersey Bill to Repeal Sales Taxes on Gold and Silver Clears Another Hurdle | Tenth Amendment Center

a New Jersey Assembly committee unanimously passed a bill that would exempt gold and silver bullion from state sales and use taxes. It previously passed the full Senate.
blog.tenthamendmentcenter.com
 
States should have their own depository and mint their own PM medals for resale and storage.
 

Update:

New Jersey Legislature Again Votes Unanimously to End Taxes on Gold and Silver

For the second time in less than a year, the New Jersey legislature has voted to end the sales tax on purchases of gold and silver coins, bars, and rounds.
www.soundmoneydefense.org
 

Now in Effect: Louisiana Law Recognizes Gold and Silver as Legal Tender in the State​

By: Mike Maharrey | Published on: Aug 1, 2024|Categories: Federal Reserve, State Bills|

BATON ROUGE, La. (Aug 1, 2024) – As of today, gold and silver are officially recognized as money by the state of Louisiana.

Sen. Mark Abraham filed Senate Bill 232 (SB232) on March 1. Under the new law, “any gold or silver coin, specie or bullion issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”

The House passed SB232 by a 92-0 vote. The Senate concurred with a vote of 38-0. With Gov. Jeff Landry’s signature in May, the new law went into effect on Aug. 1.

Beyond the provisions to make gold and silver legal tender, the bill also specifies that “no person shall incur any liability for refusal to accept recognized legal tender for the payment of debts, except as provided by contract.”

Now in Effect: Louisiana Law Recognizes Gold and Silver as Legal Tender in the State | Tenth Amendment Center

Under the new law, “any gold or silver coin, specie or bullion issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”
blog.tenthamendmentcenter.com
 
They should legalize all silver coins with a picture of a pot leaf on the reverse.

How about a new circulating $100 silver coin with Trump on the obverse and Grandaddy Purple on the reverse?
 


Update.

Kentucky Governor Plans to Collect Sales Tax on Gold and Silver Despite New Law

Kentucky Governor Andy Beshears signed the bill but used a line-item veto to strike out the sales tax exemption for gold and silver.
goldseek.com
 

Update:

Tax-Grabbing Nebraska Politicians Taught a Lesson by Sound Money Supporters

In a powerful display of grassroots pressure, Nebraska politicians beat a hasty retreat this week after attempting a brazen tax grab that would have reimposed sales taxes on purchases of gold and silver in the Cornhusker State.
www.soundmoneydefense.org

Sal's take

 

@pmbug beat me to it but I'm already here so...............

SIGNED INTO LAW: New Jersey Eliminates Sales Taxes on Gold and Silver

Sound money advocates celebrate as New Jersey’s Senate Bill 721 is signed into law, removing sales taxes on gold, silver, and other precious metals over $1,000 starting January 1, 2025.
goldseek.com
 

The BRICS Aren’t The Only Ones Turning To Gold...​

Oct 22, 2024 #silver #silverprice

Jp Cortez: BRICS Aren’t the Only Ones Turning to Gold...
While the BRICS Summit is finally underway today, they're not the only significant group that has been increasingly looking towards gold lately.
It's actually been happening in the states too. Where favorable precious metals legislation has been getting passed by the majority of the states, while the legislators that are signing it often cite the same underlying reasons that the BRICS countries do.
One of the people moving that effort forward is Jp Cortez of The Sound Money Defense League, and today he joins me on the show to give an update of what's happening with the states, and the impact it's having.
To find out more, click to watch the video now!

36:20
 
In this one Mario talks with Jp Cortez of the SMDL. It 41 mins long and presented as a podcast. Nothing to see, can listen in one tab, play around the forum in a different tab.

A Grassroots Battle Against the Fed's Money Monopoly. Jp Cortez of Sound Money Defense League​

Oct 26, 2024 #gold #silver #money

 
Fatrat said:
I believe Florida still has a sales tax for amounts under $500 dollars, can't have the plebes escaping...DeSantis has failed .
Click to expand...
You should give his office a call and tell him that.
 

Missouri “Constitutional Money Act” Would Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Two bills filed in the Missouri Senate would officially recognize gold and silver as legal tender, eliminate state capital gains taxes on both, and ban support for any federal confiscation schemes.
blog.tenthamendmentcenter.com
 

Citizens for Sound Money Commends CFO Patronis for Advancing Gold and Silver as Legal Tender in Florida

Florida’s $200,000 study on gold and silver legal tender is a historic step toward sound money. Discover how this initiative protects wealth and combats inflation.
citizens4soundmoney.org
 

More:

Could gold & silver become currency in Florida?​

Dec 11, 2024

Precious metals like gold and silver are not legal tender under Florida law. However, if the state's chief financial officer gets his way, that could change. Florida CFO Jimmy Patronis, who's also running for a vacant seat in Congress, is launching a study by the Florida Department of Financial Services to determine how gold and silver could be used to buy goods and services in the state. The study will focus on physical gold and silver as bars and coins.
READ: https://www.fox13news.com/news/could-...

2:21
 
None of these state initiatives and legislations would be there without the lobbying work of sound money organisations.
How classy for Kinesis to remember Citizens for Sound Money president Jim Forsythe on their 250mg Aurum bills.


 

Update:

Constitutional Money Act Filed in Missouri House | Tenth Amendment Center

Two bills filed in the Missouri House would officially recognize gold and silver as legal tender, eliminate state capital gains taxes on both, and ban support for any federal confiscation schemes.
blog.tenthamendmentcenter.com
 

Update:

Today, January 1st, New Jersey Senate Bill 721 went into effect -- ending sales taxes on virtually all purchases of gold, silver, platinum, and palladium.

NEW LAW IN EFFECT - Virtually All Taxes Removed on Purchases of Gold and Silver in New Jersey

Today, a new law goes into effect in New Jersey that ends virtually all taxation on purchases of gold, silver, platinum, and palladium in the Garden State
www.soundmoneydefense.org
 

Update:

Kentucky Considers Bill to Entice Gold and Silver Investors to Sue the State for Wrongful Taxation

Freshman legislator Rep. T.J. Roberts has introduced House Bill 2, a measure that would give aggrieved taxpayers a legal remedy to sue state officials for improper taxation on the purchase of gold and silver in the Bluegrass State.
www.soundmoneydefense.org
 

Update:

Tennessee Bill Would Create Mechanism to Facilitate Gold and Silver Reserves | Tenth Amendment Center

A bill introduced in the Tennessee Senate would establish a mechanism to facilitate the establishment of state-owned gold and silver reserves, including their purchase and sale. If passed, the measure could bolster Tennessee’s financial stability, hedge against inflation, and reduce reliance on...
blog.tenthamendmentcenter.com
 

Update:

DES MOINES, Iowa (Jan. 25, 2025) – Legislation introduced in the Iowa Senate would establish a gold and silver backed currency system, offering Iowans a practical alternative to Federal Reserve notes and challenging the central bank’s monopoly on money.

Senate Bill 112 (SF112) sponsored by Rep. Kevin Alons and a coalition of cosponsors, would require the state treasurer to issue gold and silver specie and create a transactional currency tied directly to the precious metals. Specie under the proposed law would be defined as “a precious metal stamped into coins of uniform shape, size, design, content, and purity, suitable for or customarily used as currency, a medium of exchange, or the medium for purchase, sale, storage, transfer, or delivery of precious metals in retail or wholesale transactions.”

Iowa Bill Would Establish 100% Backed Gold and Silver Transactional Currency | Tenth Amendment Center

Legislation introduced in the Iowa Senate would establish a gold and silver backed currency system, offering Iowans a practical alternative to Federal Reserve notes and challenging the central bank's monopoly on money.
blog.tenthamendmentcenter.com
 

Update:

Arizona Bill Would Create Gold and Silver-Backed Transactional Currency

An Arizona Senate bill aims to create a state-backed transactional currency supported entirely by gold and silver, along with a state-operated bullion depository.
goldseek.com
 
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