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Bill > SB0311
TN SB0311
TN SB0311AN ACT to amend Tennessee Code Annotated, Title 5; Title 6; Title 7; Title 9; Title 38; Title 45 and Title 67, relative to precious metals.
summary
Introduced
01/20/2023
01/20/2023
In Committee
Crossed Over
Passed
Dead
04/25/2024
04/25/2024
Introduced Session
Potential new amendment
113th General Assembly
Bill Summary
As introduced, makes gold and silver coinage legal tender; authorizes payment of taxes with gold and silver coinage; makes other changes concerning precious metals. - Amends TCA Title 5; Title 6; Title 7; Title 9; Title 38; Title 45 and Title 67.
AI Summary
This bill makes gold and silver coinage legal tender in Tennessee, meaning they must be accepted as payment for debts at their spot price. It also authorizes the state to accept gold and silver coinage for the payment of taxes and other amounts collected by the state. The bill requires any gold and silver coinage received by the state to be stored in a depository institution and attributed to the balance of the state's reserve for revenue fluctuations, which must be used before the gold and silver coinage can be liquidated. The bill also allows individuals and entities in Tennessee to produce and sell gold or silver coins, as long as they comply with certain labeling and regulatory requirements.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
SA0367 - Amendment 1-0 to SB0311 (on 03/29/2023)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0311&ga=113 |
| Fiscal Memo for SA0367 (6764) | https://www.capitol.tn.gov/Bills/113/Fiscal/FM1223.pdf |
| Amendment 1-0 to SB0311 | https://www.capitol.tn.gov/Bills/113/Amend/SA0367.pdf |
| Fiscal Note - SB0311 | https://www.capitol.tn.gov/Bills/113/Fiscal/SB0311.pdf |
| BillText | https://www.capitol.tn.gov/Bills/113/Bill/SB0311.pdf |
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