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KS SB39
Bill
Status
Engrossed
3/24/2025
Primary Sponsor
Federal and State Affairs
Click for details
AI Summary
- Establishes gold and silver coin issued by the U.S. government as legal tender in Kansas, along with refined gold or silver bullion stamped with weight and purity
- Exempts specie (gold/silver coins and bullion) from being classified as personal property for taxation or regulatory purposes
- Eliminates state income tax on gains from the purchase, sale, or exchange of specie, effective for taxable years after December 31, 2024
- Maintains tax liability for specie distributions from retirement plan accounts
- Requires Kansas courts to order specific performance for breach of contracts designating specie as payment, with enforcement authority granted to the attorney general
Legislative Description
Establishing the Kansas legal tender act and providing for an income tax subtraction modification for sales of specie.
Last Action
House Committee Report recommending bill be passed as amended by Committee on Financial Institutions and Pensions
3/5/2026
Committee Referrals
Financial Institutions and Pensions1/15/2026
Taxation3/24/2025
Assessment and Taxation3/12/2025
Financial Institutions and Insurance1/21/2025
Full Bill Text
No bill text available