Oklahoma SB284 amends tax laws to clarify the use of gold and silver coins as legal tender, restrict their use in debt payments, and exempt specie.
Oklahoma SB284 amends the state's tax laws to establish gold and silver coins issued by the United States government as legal tender within Oklahoma. It restricts the requirement for payment in specie unless agreed upon by contract. The bill also prohibits the levy of taxes on the sale or exchange of specie, exempts specie from personal property assessment, and mandates the State Treasurer to develop a plan for storing specie. Specie is defined as gold and silver bullion in the form of coins issued by the United States government.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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