SB1158 • 2025

Provides that gold and silver are legal tender.

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Senator Thatcher, Senator Smith DB
Last action: 2025-06-27
Official status: In Senate Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Provides that gold and silver are legal tender.

Digest: The Act says that gold and silver are legal tender and exempts gold and silver trade from certain taxes.

What This Bill Does

Digest: The Act says that gold and silver are legal tender and exempts gold and silver trade from certain taxes.
(Flesch Readability Score: 71.7).
Provides that gold and silver are legal tender.
Exempts the purchase, sale and exchange of gold and silver from certain taxation.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2025-06-27 Senate
In committee upon adjournment.
2025-05-19 Senate
Public Hearing held.
2025-03-03 Senate
Referred to Finance and Revenue.
2025-02-27 Senate
Introduction and first reading. Referred to President's desk.

Official Summary Text

Digest: The Act says that gold and silver are legal tender and exempts gold and silver trade from certain taxes. (Flesch Readability Score: 71.7).
Provides that gold and silver are legal tender. Exempts the purchase, sale and exchange of gold and silver from certain taxation.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to specie legal tender; prescribing an effective date.
Current location: In Senate Committee

Current Bill Text

Read the full stored bill text

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83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Senate Bill 1158
Sponsored by Senator THATCHER
SUMMARY
The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject
to consideration by the Legislative Assembly. It is an editor’s brief statement of the essential features of the
measure as introduced. The statement includes a measure digest written in compliance with applicable readability
standards.
Digest: The Act says that gold and silver are legal tender and exempts gold and silver trade
from certain taxes. (Flesch Readability Score: 71.7).
Provides that gold and silver are legal tender. Exempts the purchase, sale and exchange of gold
and silver from certain taxation.
Takes effect on the 91st day following adjournment sine die.
A BILL FOR AN ACT
Relating to specie legal tender; and prescribing an effective date.
Be It Enacted by the People of the State of Oregon:
SECTION 1.
(1) As used in this section, “specie” means:
(a) Coin having gold or silver content; and
(b) Refined gold or silver bullion that is:
(A) Coined, stamped or imprinted with its weight and purity; and
(B) Valued primarily based on its metal content and not its form.
(2) Specie is legal tender in this state.
(3) Except as expressly provided by law or contract, a person may not compel another
person to tender or accept specie.
SECTION 2.
Moneys received from the purchase, sale or exchange of specie, as defined
in section 1 of this 2025 Act, are exempt from taxes imposed under ORS chapters 316, 317,
317A and 318.
SECTION 3. This 2025 Act takes effect on the 91st day after the date on which the 2025
regular session of the Eighty-third Legislative Assembly adjourns sine die.
NOTE: Matter in boldfaced type in an amended section is new; matter [ italic and bracketed] is existing law to be omitted.
New sections are in boldfaced type.
LC 4262