SD SB112

Gold and silver specie recognized as legal tender in South Dakota beginning July 1, 2027, for payment of private debts (if mutually agreed) and state taxes/fees (if the state agrees to accept)

State treasurer authorized to designate or establish a bullion depository for secure storage and to authorize an electronic payment system enabling transactions using gold or silver specie

Deposits in state-authorized bullion depositories must be insured at 100% of full replacement value by a non-governmental insurer, with regular verification of holdings by the treasurer

Transaction information prohibited from being shared without court authorization or used in any social credit scoring system; participant deposits protected as sole property not subject to state appropriation without due process

Exchange of gold/silver specie for other forms of legal tender creates no tax liability; state treasurer required to submit annual reports to the Legislature by December 1 on depository operations and economic impact