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WV HB2463
Bill
Status
Introduced
2/17/2025
Primary Sponsor
Chris Anders
Click for details
AI Summary
- Establishes the West Virginia Bullion Depository within the State Treasury to accept, store, and manage gold and silver bullion and specie deposits from individuals
- Recognizes gold and silver coin issued by the U.S. government, as well as bullion and specie held in the state depository, as legal tender for payment of debts and taxes in West Virginia
- Authorizes the depository to issue transactional currency backed by physical gold and silver, with value determined by real-time precious metal prices in fractional troy ounce measurements
- Exempts bullion and specie held in the depository from state property taxes and exempts exchanges between different types of legal tender from taxation
- Requires the State Treasurer to administer the depository, maintain insurance covering full deposit values, and ensure all deposits are held in trust for account holders rather than subject to legislative appropriation
Legislative Description
To make gold, silver, and crypto currency legal tender in WV
Banking and Finance
Last Action
To House Finance
2/17/2025
Committee Referrals
Finance2/17/2025
Full Bill Text
No bill text available