Bill > HB2515

This bill, known as the Kansas Legal Tender Act, reaffirms gold and silver coins as legal tender in Kansas, meaning they can be used to pay debts and taxes. It defines "specie" as coins with gold or silver content, or refined gold or silver bullion that is stamped with its weight and purity, and valued primarily for its metal content. The act states that specie issued by the U.S. government is legal tender, and any other specie can be designated as legal tender by a court. Importantly, the bill exempts the exchange, purchase, or sale of specie from any tax liability, with the exception of taxable distributions from retirement accounts holding specie. Additionally, it introduces an income tax subtraction modification for gains realized from the sale of specie, meaning profits from selling gold or silver would not be taxed at the state level, starting for tax years after December 31, 2025, unless it's a distribution from a retirement account. The bill also repeals the existing section of Kansas law that deals with income tax modifications, replacing it with these new provisions.

Business and Industry, Labor and Employment

Financial Institutions and Pensions (House)

https://kslegislature.gov/li/b2025_26/measures/hb2515/