Establishes a transactional currency based on gold and silver held in a bullion depository approved by the treasurer of state.
The bill mandates the treasurer of state to issue specie and establish a transactional currency based on gold and silver held in a bullion depository. It allows the treasurer to contract with a private vendor for these duties. The bill requires the treasurer to exclusively authorize an approved bullion depository as the state's issuer of specie, ensuring it can be used as legal tender and is readily transferable. The bill also allows the treasurer to set fees for issuing or redeeming the transactional currency.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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