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LA HB695
Bill
Status
Passed
6/11/2025
Primary Sponsor
Raymond Crews
Click for details
AI Summary
- Amends R.S. 6:341(A) to expand Louisiana's recognition of gold and silver as legal tender beyond coins "issued" by the U.S. government to include those "recognized" by any state or the federal government
- Adds gold-backed debit instruments that can convert gold held in a depository to fiat currency as a recognized form of legal tender in Louisiana
- Removes the limitation that only gold and silver issued by "any state or" the U.S. government qualifies, replacing it with recognition by the U.S. government as the standard
- Enables holders of gold deposits to use debit-style instruments backed by their physical gold holdings for transactions in the state
Legislative Description
Provides relative to gold and silver as legal tender (EN SEE FISC NOTE SG EX)
COMMERCIAL REGULATIONS
Last Action
Effective date: 08/01/2025.
6/11/2025
Committee Referrals
Finance6/8/2025
Commerce, Consumer Protection, and International Affairs5/28/2025
Full Bill Text
No bill text available