HB1440

Mississippi Transactional Gold and Silver Act recognizes gold and silver as legal tender and establishes a bullion depository and electronic payment.

The Mississippi Transactional Gold and Silver Act recognizes gold and silver as legal tender for private transactions and, when accepted, for paying state and local taxes or fees. It authorizes the creation of a secure bullion depository and a specie-backed electronic payment system. The act exempts gold and silver transactions from state sales, use, and income taxes. The executive director of the Department of Finance and Administration will implement the provisions, including designating a bullion depository and authorizing the electronic payment system.