Louisiana lawmakers adopt substitute bill for gold and silver as legal tender

The House Commerce Committee of the Louisiana Legislature convened on May 19, 2025, to discuss a significant legislative proposal regarding the recognition of gold and silver as legal tender. The meeting focused on a bill aimed at facilitating electronic transactions involving these precious metals.

During the session, a representative explained the evolution of the bill, noting that initial amendments had caused confusion, prompting a retraction of certain language. The representative clarified that the bill does not involve any state depository or financial institution, but simply acknowledges the use of gold and silver, including in electronic formats. This aligns with a previous law passed by Senator Abraham, which recognized gold and silver as legal tender in Louisiana.

Representative Mena made a motion to adopt a substitute version of the bill, which was approved without objection from the committee members. The discussion highlighted the committee's intent to streamline the legislative process and address concerns raised by the Louisiana Bankers Association regarding the implications of state involvement.

The meeting concluded with a commitment to further explore the implications of the bill, which aims to modernize the use of gold and silver in financial transactions while ensuring clarity in its application. The next steps will involve continued discussions and potential adjustments to the bill as it moves through the legislative process.