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OK SB862
Bill
AI Summary
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Establishes gold and silver coins issued by the United States government as legal tender in Oklahoma.
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Prohibits compulsion to tender or accept US-issued gold or silver coins except by mutual agreement through contract.
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Removes requirement that gold, silver, platinum, palladium, or other bullion items be stored in a recognized depository facility to qualify for sales tax exemption.
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Amends Section 1357 of Title 68 (Oklahoma Statutes) regarding sales tax exemptions to expand bullion exemption eligibility.
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Effective date: November 1, 2014.
Legislative Description
Gold and silver coins; establishing gold and silver coins as legal tender; modifying qualifications relating to exemption. Effective date.
Revenue and Taxation
Last Action
Approved by Governor 06/04/2014
6/4/2014