Bill
Bill > SB1158
summary
Introduced
02/27/2025
02/27/2025
In Committee
03/03/2025
03/03/2025
Crossed Over
Passed
Dead
06/27/2025
06/27/2025
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act says that gold and silver are legal tender and exempts gold and silver trade from certain taxes. (Flesch Readability Score: 71.7). Provides that gold and silver are legal tender. Exempts the purchase, sale and exchange of gold and silver from certain taxation. Takes effect on the 91st day following adjournment sine die.
AI Summary
This bill establishes legal recognition for gold and silver as "specie" (a technical term for coins or bullion with gold or silver content) in Oregon, defining specie as coins or refined gold/silver that are stamped with weight and purity and valued primarily for their metal content. The bill declares that specie is legal tender in the state, though it does not mandate that people must accept it in transactions. Additionally, the bill provides a significant tax exemption by excluding any monetary gains from buying, selling, or exchanging gold and silver from state income and business taxes under several Oregon Revised Statutes (ORS) chapters. The legislation is set to take effect 91 days after the 2025 regular session of the Oregon Legislative Assembly adjourns, which would represent a move to provide an alternative form of currency and potentially protect individuals' investments in precious metals from taxation.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
In committee upon adjournment. (on 06/27/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB1158 |
| SB 1158 (Witness Registration) | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/306376 |
| SB 1158 Preliminary SMS | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/306161 |
| Open Government Impact Statement for SB1158 INTRO | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/86933 |
| BillText | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/SB1158/Introduced |
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