Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Currency Gold Silver topic
No spam. Unsubscribe anytime.
Senate endorses bill allowing gold and silver coin as recognized legal tender pending agency rules
Summary
Senators approved House Bill 999 (substituted for SB 132), recognizing gold and silver coin as legal tender under specified conditions and directing the Chief Financial Officer and regulators to draft implementing rules for legislative ratification.
The Senate passed Committee Substitute for House Bill 999 (substituted for Senate Bill 132), which recognizes gold coin and silver coin as legal tender in Florida under a framework that requires regulators to produce implementing rules subject to legislative ratification.
Senator Rodriguez, sponsor of the measure, said the bill recognizes gold and silver coin as legal tender for payment of debts while clarifying that custodians handling gold/silver must be licensed money transmitters and meet consumer‑protection requirements (insurance, separate ledgers, disclosures). The measure also specifies that banks and financial institutions are not required to accept gold or silver deposits and are not liable for refusing services related to them.
Implementation: the bill directs the Chief Financial Officer and the Financial Services Commission to develop rules and submit them to the Legislature by November 1, 2025; those rules must be ratified before taking effect. The bill sets a delayed effective date (July 1, 2026) to allow agencies and the Legislature to act. The Senate adopted the house substitute and passed the bill 38–0.
