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OK SB1838
Bill
AI Summary
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Defines "specie" as gold or silver bullion in the form of coins, bars, or rounds stamped with weight and purity, and recognizes U.S. government-issued gold and silver coins as legal tender in Oklahoma for paying public debts
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Prohibits any state tax liability from arising on the purchase, sale, or exchange of specie, and excludes specie from personal property taxation or regulatory assessment
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Allows silver specie (bars and rounds) to be used for private debt payments by agreement, while specifying no person can be compelled to tender or accept specie without contractual consent
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Requires the State Treasurer to develop a plan for storing a minimum of 10% of state fund balances in gold and silver legal tender and for allowing taxpayers to pay ad valorem taxes in gold and silver
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Authorizes an Oklahoma income tax deduction for capital gains derived from the sale or exchange of specie, effective for tax year 2027 and subsequent years
Legislative Description
Specie; authorizing the payment of certain debts; authorizing deduction for gains derived from the sale of specie. Effective date.
Last Action
Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee
2/3/2026