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Panel narrows HB1674 to legal-tender/specie study after municipal concerns about gold and silver payments
Summary
Lawmakers scaled back House Bill 1674 to focus on declaring gold and silver as legal tender, heard testimony from the Municipal Association that small towns lack facilities, and voted 2-0 to recommend the bill not be advanced while asking staff to study other states' approaches and the proposed amendment 2024-0373h.
The House Commerce and Consumer Affairs subcommittee considered a narrowed version of House Bill 1674 that would recognize gold and silver specie as legal tender. Members heard practical objections from municipal officials and moved to recommend the bill not be advanced pending further study.
Chair (mister Sherman) explained the original bill had three components: declaring gold and silver legal tender, establishing a state bullion depository, and issuing digital tokens as receipts for bullion. The…
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