Oklahoma HB1199 establishes gold and silver coins issued by the U.S. government as legal tender in Oklahoma, exempting them from tax and regulation.
Oklahoma HB1199 amends state law to recognize gold and silver coins issued by the U.S. government as legal tender within Oklahoma. The bill specifies that these coins must be stamped with their weight and valued primarily by their metal content. It prohibits compelling another person to accept these coins unless agreed upon by contract. The bill also clarifies that specie, or legal tender, cannot be characterized as personal property for tax or regulatory purposes. Additionally, it ensures that exchanging or purchasing these coins does not result in tax liability.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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