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Subcommittee moves bill declaring gold and silver coinage legal tender
Summary
HB 2038, which would declare gold and silver coinage legal tender in Tennessee and enable related bills on bullion depositories and transactional systems, advanced unanimously to full Finance.
A sponsor (speaker S16) described HB 2038 as legislation to make gold and silver coinage legal tender in Tennessee and to enable later bills on depositories and transactional systems. The sponsor said several other states have enacted similar measures and argued the change would provide an alternative monetary option.
The sponsor also said one downstream goal is to seek congressional or IRS consideration on capital gains treatment once a threshold of state adoptions is reached. He framed the bill as foundational for potential future bills on a state mint and bullion depository. The committee voted 12–0 to move HB 2038 to full Finance.
