SB1838

Oklahoma SB1838 amends the definition of specie, authorizes its use for debt payments, and exempts it from taxation.

Oklahoma SB1838 amends the definition of specie to include gold and silver coins issued by the U.S. government, gold and silver bullion in the form of coins, and silver specie in the form of bars and rounds. It authorizes the use of specie for the payment of public and private debts in Oklahoma. The bill exempts specie from personal property taxation and assessment. It also prohibits the levy of any tax on the sale or exchange of specie. The bill requires the State Treasurer to develop a plan for storing a minimum amount of specie. It provides an effective date of November 1, 2026.