Bill > HB4673

This bill, titled the "West Virginia Legal Tender Act," establishes the West Virginia Bullion Depository, managed by the State Treasurer, to act as a custodian for gold and silver bullion (precious metals in uniform shapes like bars or ingots) and specie (precious metal coins). The Depository will be authorized to accept deposits of gold and silver and to issue a "transactional currency," which is a digital representation of the physical gold or silver held in an account, allowing for electronic transfers. This transactional currency will be fully redeemable for its equivalent in physical precious metals, with its value determined by the real-time market price of gold or silver. The bill also clarifies that gold and silver coin, as well as bullion or specie accepted by the Depository, will be considered legal tender in West Virginia for the payment of debts, taxes, and other public charges, and these holdings will be exempt from personal property taxation. The State Treasurer is empowered to set standards for accepted precious metals, establish security measures, maintain insurance, and create rules for the operation of the Depository and the transactional currency.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4673&year=2026&sessiontype=RS&btype=bill