Indiana HB1227 designates gold and silver as legal tender and establishes bullion depositories for their storage.

Indiana HB1227 amends the Indiana Code to recognize gold and silver as legal tender for private debts, taxes, and fees. The bill requires the treasurer of state to designate bullion depositories for storing bullion, ensuring they meet security standards. Consumers can establish bullion depository accounts to store and transact with bullion. The bill exempts bullion from property tax and gross retail tax. It mandates annual audits of designated bullion depositories and requires the treasurer to report their operations and financial status to the general assembly.

Indiana HB1227 designates gold and silver as legal tender and establishes bullion depositories for their storage.

Indiana HB1227 amends the Indiana Code to recognize gold and silver as legal tender for private debts, taxes, and fees. The bill requires the treasurer of state to designate bullion depositories for storing bullion, ensuring they meet security standards. Consumers can establish bullion depository accounts to store and transact with bullion. The bill exempts bullion from property tax and gross retail tax. It mandates annual audits of designated bullion depositories and requires the treasurer to report their operations and financial status to the general assembly.