Iowa HF2311 establishes specie as legal tender, outlines requirements for bullion depositories, and exempts specie transactions from state taxes.

Iowa HF2311 designates specie as legal tender, allowing its use in financial transactions. The bill mandates the treasurer of state to approve bullion depositories for secure bullion storage and authorize electronic payment systems for transactions. It requires these depositories to have contractual relationships with political subdivisions and insure deposits fully. The bill prohibits using transactional gold and silver for surveillance or social credit scoring. It exempts specie transactions from state sales, excise, gross receipts, income, capital gains, and other taxes.

Iowa HF2311 establishes specie as legal tender, outlines requirements for bullion depositories, and exempts specie transactions from state taxes.

Iowa HF2311 designates specie as legal tender, allowing its use in financial transactions. The bill mandates the treasurer of state to approve bullion depositories for secure bullion storage and authorize electronic payment systems for transactions. It requires these depositories to have contractual relationships with political subdivisions and insure deposits fully. The bill prohibits using transactional gold and silver for surveillance or social credit scoring. It exempts specie transactions from state sales, excise, gross receipts, income, capital gains, and other taxes.