AR HB1918

Authorizes precious metals-backed electronic payment systems in Arkansas, allowing account holders to buy, sell, save, or spend gold and silver bullion as a form of currency through approved vendors

Establishes requirements for bullion depositories, which must be accredited by the London Bullion Market Association and provide vault facilities within the United States for storing gold and silver backing electronic transactions

Exempts specie and legal tender from state taxation, including exchanges between different forms of legal tender and purchases, sales, or exchanges of specie

Permits state and local governments to accept physical gold or silver as payment for private debts, taxes, and fees if they choose to do so

Directs the Chief Fiscal Officer of the State to promulgate rules covering vendor authorization, fraud prevention, security of transactional gold and silver, and conversion of bullion to dollars