IA HF2723

Establishes gold and silver bullion as legal tender in Iowa, allowing any person to use specie in financial transactions while not requiring anyone to accept it as payment.

Requires the State Treasurer to approve one or more bullion depositories meeting London Bullion Market Association standards, either operated directly by the state or through private depository agents.

Creates a framework for electronic payment systems that enable vendors to process payments based on specie held in bullion depositories, with mandatory compliance with state and federal money transmitter laws.

Defines specie as refined gold (99.5% pure) or silver (99.9% pure) in uniform shape suitable for currency, and establishes "transactional gold and silver" as fractional representations transferable electronically.

Mandates privacy protections prohibiting transaction data sharing without court authorization and explicitly bans use of transaction information in social credit scoring systems.