Bill > SB99

This bill, known as the Kentucky Transactional Gold and Silver Act, recognizes gold specie and silver specie as legal tender in Kentucky, meaning they can be used to pay debts, taxes, and other obligations, though private parties must agree to their use and the state or local governments must agree to accept them. The State Treasurer is tasked with establishing regulations for a bullion depository, which is a secure facility for storing gold and silver, and authorizing electronic payment systems that can use these precious metals for transactions. These systems and depositories must meet specific security, reliability, and transparency requirements, and participant privacy will be protected, preventing transaction information from being shared without court authorization or used in social credit scoring systems. Additionally, the bill exempts capital gains and losses from the sale or exchange of gold specie and silver specie from state income tax for both individuals and corporations.

https://apps.legislature.ky.gov/record/26RS/sb99.html