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ID S1127
Bill
Status
2/24/2025
Primary Sponsor
State Affairs Committee
Click for details
AI Summary
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Gold and silver coins and bullion are designated as legal tender in Idaho and must be treated as money rather than property under state law
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The State Controller must publish daily exchange ratios between gold/silver, bullion, and coins on the controller's website and archive these determinations for at least 10 years
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Exchanges of paper currency or base-metallic coins for gold/silver coins or bullion are exempt from state taxes, fees, and assessments
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Seizure of gold or silver coins/bullion owned by the state or its citizens is prohibited without a final court judgment following notice and hearing
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Individuals may bring civil action against state officers or employees who fail to enforce these provisions, with remedies including injunctions, damages, and writs of mandamus; effective July 1, 2025
Legislative Description
Adds to existing law to establish provisions regarding the use of gold and silver coins and bullion.
GOLD AND SILVER COINS AND BULLION
Last Action
Reported Printed; referred to State Affairs
2/25/2025