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Committee introduces measure to declare gold and silver legal tender
Summary
Representative Steve Miller introduced RS 32255 to designate gold and silver coin as legal tender for willing buyers and sellers; committee voted to introduce the resolution.
Representative Steve Miller introduced a resolution to the House State Affairs Committee to designate gold and silver coin as legal tender for voluntary transactions.
Miller, identifying himself as "Representative Steve Miller, legislative district 24," told the committee the measure would not force anyone to accept metal coins but would allow "a willing seller, willing buyer to negotiate a deal or contract a deal and, at their discretion" to use gold or silver in payment. He said the bill removes capital-gains language previously included because "capital gains is going to show up in House Bill 40, so I removed that from this." Miller also referenced the U.S. Constitution when describing state authority over specie: "to make tender in payment of debts under authority reserved to the several states. This is defined by the US constitution."
Committee members asked procedural and legal questions. Representative Nicholson asked whether anything in current statutes would prohibit the practice; Miller replied he had reviewed the draft with the attorney general's office and had found none. Representative Scott moved to introduce RS 32255; the committee approved the motion and the resolution will be introduced.
The measure as presented makes gold and silver coin an option for payment between consenting parties and contains definitions for "debt" and "entity" that, according to Miller, include the state, corporations, partnerships, trusts, labor unions and unincorporated associations that operate in Idaho. Miller characterized the change as recognizing a right "never delegated by the people of Idaho to any governmental institution." The draft removes earlier capital-gains language and frames acceptance of specie as voluntary rather than compulsory.
No formal floor vote on adoption of the policy was taken in committee; the action recorded was the committee's vote to introduce RS 32255 for further consideration.
Representative Miller thanked the committee and was returned to JFAC for further handling.
