summary
Introduced
01/08/2025
01/08/2025
In Committee
04/28/2025
04/28/2025
Crossed Over
Passed
Dead
05/16/2025
05/16/2025
Introduced Session
2025 Regular Session
Bill Summary
Modifies standards for storage and use of gold and silver
AI Summary
This bill modifies Missouri's tax code and legal tender laws to provide several key provisions. In the tax code section, the bill adds a new provision allowing residents to subtract 100% of capital gains from the sale or exchange of specie (gold and silver) from their state income taxes, starting in 2026. In the legal tender section, the bill, named the "Constitutional Money Act", establishes comprehensive rules for the use of gold and silver as legal tender in Missouri. The bill declares that specie (gold and silver coins) and electronic currency can be used as legal tender for both public and private debts, with the discretion of the receiving entity. The legislation requires the state revenue director to create rules for accepting specie as payment, and stipulates that verification costs for such transactions will be borne by the receiving entity. The bill also protects individuals' rights to own and use specie or electronic currency, preventing state agencies from seizing such assets improperly or restricting their use. Additionally, the legislation allows businesses to pay employees partially or fully in specie if requested, and provides detailed definitions for terms like bullion, electronic currency, and specie legal tender, while explicitly excluding any Nazi-related insignia from qualifying as legal tender.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (19)
Bill Hardwick (R)*,
Mitch Boggs (R),
Darin Chappell (R),
Mazzie Christensen (R),
Bishop Davidson (R),
Michael Davis (R),
Lisa Durnell (R),
John Hewkin (R),
Holly Jones (R),
Cathy Loy (R),
Philip Oehlerking (R),
Chad Perkins (R),
Tara Peters (R),
Brian Seitz (R),
Tim Taylor (R),
Bob Titus (R),
Richard West (R),
Burt Whaley (R),
Bryant Wolfin (R),
Last Action
Reported Do Pass (H) - AYES: 4 NOES: 2 PRESENT: 0 (on 04/28/2025)
Official Document
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