Bill > H0999

Introduced Session

An act relating to legal tender; amending s. 212.05, F.S.; revising the sales and use tax exemption for certain coin or currency; specifying that a person who claims the sales tax exemption bears the burden for determining whether the gold coin or silver coin meets a specified definition; providing a presumption regarding the purity requirements of gold coin and silver coin; creating s. 215.986, F.S.; defining terms; specifying that gold coin and silver coin are recognized as legal tender for a specified purpose; prohibiting gold cold or silver coin recognized as legal tender from being imprinted, stamped, or otherwise marked in a specified manner; providing an exception; specifying that a gold coin or silver coin that does not meet certain requirements is not recognized as legal tender for a specified purpose; providing construction; prohibiting persons or entities from being required to offer or accept any legal tender for a specified purpose; prohibiting persons or entities from incurring liability for refusing to offer or accept legal tender; providing an exception; authorizing a governmental entity to accept gold coin or silver coin for a specified purpose and only in a specified manner; authorizing governmental hb999 -02-er2025 Legislature entities to tender or accept gold coin or silver coin for certain purposes; authorizing governmental entities to tender or accept gold coin or silver coin by electronic transfer and not in physical form; requiring governmental entities to enter into specified written contracts under certain circumstances; requiring certain custodians of gold coin or silver coin to meet certain requirements; specifying that a governmental entity that tenders or accepts gold coin or silver coin under certain circumstances need not comply with certain provisions; creating s. 280.21, F.S.; requiring custodians of gold coin or silver coin which hold public deposits to meet certain requirements; requiring the Chief Financial Officer to adopt rules; amending s. 560.103, F.S.; revising definitions and defining terms; amending s. 560.109, F.S.; requiring the Office of Financial Regulation to examine a custodian of gold coin or silver coin at least annually; amending s. 560.141, F.S.; authorizing the office to conduct an examination of certain applicants before issuing a specified license; creating s. 560.155, F.S.; prohibiting money services businesses from being required to offer certain products or services; specifying certain requirements if money services businesses offer hb999 -02-er2025 Legislature certain products or services; requiring the Financial Services Commission to adopt rules; amending s. 560.205, F.S.; requiring applicants seeking to operate as a payment instrument seller, money transmitter, or a custodian of gold coin or silver coin to provide specified information to the office; creating s. 560.214, F.S.; requiring a custodian of gold coin or silver coin to meet certain requirements; defining the terms "fully allocated" and "undivided interest"; specifying that a custodian is a fiduciary to its customers; specifying that transmission of gold coin or silver coin in a specified manner is a two-party transaction; requiring the commission to adopt rules; amending s. 655.50, F.S.; revising the definition of the term "monetary instrument"; creating s. 655.97, F.S.; defining terms; prohibiting financial institutions from being required to offer certain products or services; prohibiting financial institutions from incurring liability for refusing to offer certain products or services; specifying certain requirements if financial institutions offer certain products or services; requiring the commission to adopt rules; amending s. 672.511, F.S.; providing construction; amending s. 731.1065, F.S.; specifying that gold or silver coin that is legal tender is not hb999 -02-er2025 Legislature tangible personal property; specifying that certain provisions are effective for decedents on or after a specified date; providing applicability; deleting construction and applicability; amending s. 559.952, F.S.; conforming a cross-reference; providing directives to the Division of Law Revision; requiring, by a specified date, the Department of Financial Services and the Office of Financial Regulation to submit a specified report to the Governor and the Legislature; requiring the Chief Financial Officer and the Financial Services Commission to adopt rules; requiring that such rules be adopted by a specified date and submitted to the Legislature in a specified report; providing that such rules may not take effect until ratified by the Legislature; requiring the Chief Financial Officer and the Financial Services Commission to make a specified notification to the Division of Law Revision; prohibiting such rules from being implemented until a specified time; repealing certain provisions unless reviewed and saved from the repeal through reenactment; providing effective dates.

AI Summary

Committee Categories

Doug Bankson (R)*,  Chip LaMarca (R)*,  Webster Barnaby (R),  Yvette Benarroch (R),  Dean Black (R),  Adam Botana (R),  James Buchanan (R),  Ryan Chamberlin (R),  Peggy Gossett-Seidman (R),  Kim Kendall (R),  Monique Miller (R),  Rachel Plakon (R),  Susan Plasencia (R), 

Other Sponsors (1)

Chapter No. 2025-100 (on 05/28/2025)

Official Document