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ID S1127

Bill

Status

Introduced

2/24/2025

Primary Sponsor

State Affairs Committee

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Origin

Senate

2025 Regular Session

AI Summary

  • 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

  • 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

  • Exchanges of paper currency or base-metallic coins for gold/silver coins or bullion are exempt from state taxes, fees, and assessments

  • 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

  • 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

Committee Referrals

State Affairs2/25/2025
Judiciary and Rules2/24/2025

Full Bill Text

No bill text available