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Bill > HB1718
AR HB1718
AR HB1718To Create The Arkansas Legal Tender Act; And To Reaffirm Gold And Silver Coin As Legal Tender.
summary
Introduced
03/27/2023
03/27/2023
In Committee
04/04/2023
04/04/2023
Crossed Over
04/03/2023
04/03/2023
Passed
04/06/2023
04/06/2023
Dead
Signed/Enacted/Adopted
04/11/2023
04/11/2023
Introduced Session
94th General Assembly (2023 Regular)
Bill Summary
AN ACT TO CREATE THE ARKANSAS LEGAL TENDER ACT; TO REAFFIRM GOLD AND SILVER COIN AS LEGAL TENDER; AND FOR OTHER PURPOSES.
AI Summary
This bill creates the Arkansas Legal Tender Act, which reaffirms gold and silver coin as legal tender in the state. The key provisions are: 1) It defines "legal tender" as a recognized medium of exchange for payment of debts and taxes, and "specie" as coin or refined gold/silver bullion; 2) It states that specie or legal tender shall consist of specie coin issued by the U.S. government or other specie ruled to be legal tender by an Arkansas court; 3) It exempts exchanges of one form of legal tender for another, as well as the purchase, sale, or exchange of specie, from tax liability; and 4) It requires Arkansas courts to order specific performance of contracts that designate a type of specie as tender.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Notification that HB1718 is now Act 595 (on 04/11/2023)
Bill Topics
Macroeconomics
- ‐ Monetary Supply, Federal Reserve Board, and Treasury
- ‐ Taxation, Tax Policy, and Tax Reform
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.arkleg.state.ar.us/Bills/Detail?id=hb1718&ddBienniumSession=2023%2F2023R | 03/27/2023 |
| BillText | https://www.arkleg.state.ar.us/Acts/FTPDocument?path=%2FACTS%2F2023R%2FPublic%2F&file=595.pdf&ddBienniumSession=2023%2F2023R | 04/17/2023 |
| BillText | https://www.arkleg.state.ar.us/Bills/FTPDocument?path=%2FBills%2F2023R%2FPublic%2FHB1718%2FHB1718033020231035.pdf | 03/30/2023 |
| House Amendment H1 | https://www.arkleg.state.ar.us/Bills/FTPDocument?path=%2FAMEND%2F2023R%2FPublic%2FHB1718-H1.pdf | 03/29/2023 |
| BillText | https://www.arkleg.state.ar.us/Bills/FTPDocument?path=%2FBills%2F2023R%2FPublic%2FHB1718.pdf | 03/27/2023 |
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