Wyoming Legal Tender Act.

WORKING DRAFT
2013
STATE OF
WYOMING
13LSO-0379

HOUSE BILL
NO.

HB0198

Wyoming
Legal Tender
Act.

Sponsored by:
Representative(s) Kroeker, Hutchings and Miller and Senator(s) Hicks

A BILL

for

AN ACT relating to administration of the government;
recognizing certain gold and silver coin as legal tender
;
specifying that specie legal tender shall not be taxed as specified
;

providing that the use of specie legal tender shall be voluntary; providing definitions
;

and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 9
‑
4
‑
1301
through 9
‑
4
‑
1306

are
created to read:

ARTICLE 13
THE WYOMING
LEGAL TENDER
ACT

9
‑
4
‑
1301.

Short title.

This article shall be
known and may be cited as "The
Wyoming

Legal Tender
Act."

9
‑
4
‑
1302.

Definitions.

(a)

As used in this article:

(
i
)

"Legal tender" means an authorized medium of exchange for the payment of debts and taxes;

(ii)

"Specie" means coin or bullion having gold or silver content.

9
‑
4
‑
1303
.

Recognition of specie legal tender
.

(a)

Specie legal tender in Wyoming consists of:

(
i
)

Specie coin issued by the United States government at any time;

(ii)

Any other specie which a court of competent jurisdiction, by final and
unappealable
order, rules to be
within state authority to make
or designate as
legal tender.

9
‑
4
‑
1304
.

Tax
ation
issues related to legal tender
.

(a)

Legal tender
including
specie legal tender
shall not be characterized as personal property for t
axation or regulatory purposes.

(b)

The exchange of one (1) type or form of legal tender for another form or type of legal
tender
shall not give rise to any tax liability of any kind.

(c)

Any tax due resulting from any transaction involving specie legal tender shall be paid in like legal tender.

9
‑
4
‑
1305.

Voluntary use of specie legal tender.

Unless expressly provided by statute or by contract, n
o person shall have the right to compel any other person to tender or to accept
specie
legal tender
.

9
‑
4
‑
1306.

Enforcement.

The attorney general shall enforce this act without prejudice to any private right of action.

Section 2.

W.S. 39
‑
11
‑
105(
a) by creating a new paragraph (xxxix) is amended to read:

39-11
‑
105.

Exemptions.

(a)

The following property is exempt from property taxation:

(xxxix)

Specie currency to the extent provided in W.S. 9
‑
4
‑
1304.

Section
3
.

This act is effective
July 1, 2013
.

(END)

1
HB0198