IA SF2195

Recognizes gold and silver specie (bullion coins of certified purity—99.5% gold or 99.9% silver) as legal tender in Iowa, though no person is required to accept it in transactions.

Directs the Iowa Treasurer of State to approve one or more bullion depositories—either state-operated or contracted through private depository agents—that comply with London Bullion Market Association best practices and are located in the United States.

Requires the Treasurer to authorize electronic payment systems enabling account holders to buy, sell, save, or spend bullion held in approved depositories, with "transactional gold and silver" represented in fractional troy ounces or grams.

Mandates that each approved bullion depository carry all-risk insurance from a nongovernmental insurer for the full replacement value of deposits, and maintain contractual relationships with authorized electronic payment systems.

Includes privacy protections prohibiting the sharing of account holder transaction information without court authorization and explicitly banning the use of transaction data in any social credit scoring system.