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Senate committee advances bill allowing state vendors to be paid in gold and silver
Summary
The Senate Government Operations Committee favorably recommended House Bill 195, which would allow vendors to be paid in precious metals under state-set custody, audit and redemption standards. The sponsor and state treasurer said the move updates payments and could shape federal tax conversations; public comment was split but supportive overall.
Representative Irie presented the first substitute to House Bill 195, explaining the measure builds on prior legislation (HB 348) and the work of a 2024 study group that included federal and private‑sector participants. The bill would permit state payments to vendors in precious metals and establish standards—such as in‑state vaulting, independent audits, insurance coverage and clear redemption…
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