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IA HF2311

Bill

Official Source

Status

Introduced

2/6/2026

Primary Sponsor

Jennifer Smith

Click for details

Origin

House of Representatives

91st General Assembly

AI Summary

  • Establishes gold and silver specie (bullion coins meeting 99.5% gold or 99.9% silver purity standards) as legal tender in Iowa for voluntary use in financial transactions
  • Requires the State Treasurer to approve one or more bullion depositories meeting London Bullion Market Association standards and authorize electronic payment systems for specie-based transactions
  • Mandates that approved bullion depositories maintain insurance for deposits and establish contractual relationships with authorized electronic payment systems
  • Includes privacy protections prohibiting sharing of account holder transaction information without court authorization and banning use of transaction data in social credit scoring systems
  • Clarifies that no person shall be required to accept specie as legal tender, making its use voluntary between consenting parties

Legislative Description

A bill for an act relating to the use of specie as legal tender.(See HF 2723.)

Last Action

Committee report approving bill, renumbered as HF 2723.

2/24/2026

Committee Referrals

Commerce2/6/2026

Full Bill Text

No bill text available