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H5544 • 2026

Public and Private Financial Transactions

Public and Private Financial Transactions

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Reps. Burns and Magnuson
Last action
2026-04-16
Official status
Referred to Committee on Ways and Means ( House Journal-page 6 )
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.

Public and Private Financial Transactions

Public and Private Financial Transactions

What This Bill Does

  • Public and Private Financial Transactions

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

  1. 2026-04-16 House

    Introduced and read first time ( House Journal-page 6 )

  2. 2026-04-16 House

    Referred to Committee on Ways and Means ( House Journal-page 6 )

Official Summary Text

Public and Private Financial Transactions

Current Bill Text

Read the full stored bill text 
2025-2026 Bill 5544: Public and Private Financial Transactions - South Carolina Legislature Online

South Carolina General Assembly
126th Session, 2025-2026
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This Bill
in Microsoft Word Format
Indicates Matter Stricken
Indicates New Matter
H. 5544
STATUS INFORMATION
General Bill
Sponsors: Reps. Burns and Magnuson
Document Path: LC-0595SA26.docx
Introduced in the House on April 16, 2026
Currently residing in the House Committee on
Ways and Means
Summary: Public and Private Financial Transactions
HISTORY OF LEGISLATIVE ACTIONS

Date

Body

Action Description with journal page number

4/16/2026

House

Introduced and read first time (
House Journal-page 6
)

4/16/2026

House

Referred to Committee on
Ways and Means
(
House Journal-page 6
)

View the latest
legislative information
at the website
VERSIONS OF THIS BILL
04/16/2026

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION
34-31-30
SO AS TO PROVIDE THAT LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE,
INCLUDES ONLY GOLD COINS, SILVER COINS, AND UNITED STATEs CURRENCIES.

B
e it enacted by the
General Assembly of the State of South Carolina:

S
ECTION 1.
C
hapter 31, Title 34 of the S.C. Code is amended by
adding:

S
ection
34-31-30
.
(
A) Notwithstanding any
other provision of law, legal tender for all debts, public or private, includes
only gold coin, silver coin, or United States currency.

(
B)
For purposes of this section:

(
1)
"Gold coin" means a precious metal with the chemical element of atomic number
79 in solid form, in the shape of rounds, bars, ingots, or bullion coins, which
is valued for its metal content and stamped or imprinted with its weight and
purity and which solid form of chemical element atomic number 79 consists of at
least 99.5 percent purity. The term does not include any goods, such as jewelry,
or other items of utility, such as picture frames or collectables.

(
2)
"Silver coin" means a precious metal with the chemical element of atomic number
47 in solid form, in the shape of rounds, bars, ingots, or bullion coins, which
is valued for its metal content and is stamped or imprinted with its weight and
purity and which solid form of chemical element atomic number 47 consists of at
least 99.9 percent purity. The term does not mean any goods, such as jewelry,
or other items of utility, such as picture frames or collectables.

S
ECTION 2. This act takes effect upon approval
by the Governor.

----XX----

This web page was last updated on April 16, 2026 at 10:57 AM