Under the proposed law, the treasurer could invest up to 7.5 percent of the state's "idle moneys" in physical gold or silver. In effect, it would create a process for the state to hold reserves of gold and silver.
On Tuesday, a Missouri House committee held a hearing on two bills that would make gold and silver legal tender, and take other important steps toward treating them as money.
A bill introduced in the Idaho House would make gold and silver legal tender in the state and repeal all taxes on the same. Passage of the legislation would set the stage to undermine the Federal Reserve’s monopoly on money.
The legislation would create a sales and use tax exemption for precious metal bullion. The bill defines “precious metal bullion” as coins, bars, rounds, or sheets that contain at least 35 percent gold, silver, copper, platinum, or palladium.
On Monday, Kansas House and Senate committees held hearings on bills that would declare gold and silver specie as legal tender in Kansas, establish a specie-backed transactional currency in the state, and establish a state bullion depository