Wyoming Legal Tender Act.

2015
STATE OF WYOMING
15LSO-0361
Numbered
2.1

HOUSE BILL

NO.
HB0089

Wyoming Legal Tender Act.

Sponsored by:
Representative(s) Kroeker, Baker, Halverson, Lindholm, Loucks, Miller and Winters 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
WYOMING LEGAL TENDER ACT

9
‑
4
‑
1301
.

Short title.

This article shall be
known and may be cited as t
he
"
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
.

Taxation issues related to legal tender.

(a)

Legal tender including specie legal tender shall not be characterized as personal property for taxation 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
may
be paid in like legal tender
, provided that the state of Wyoming may require payment in an equivalent amount of United States legal tender
.

9
‑
4
‑
1305
.

Voluntary use of specie legal tender.

Unless expressly provided by statute or by contract, no 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 (xlii) is amended to read:

39
‑
11
‑
105
.

Exemptions.

(a)

The following property is exempt from property taxation:

(xlii)

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

Section
3
.

This
act is effective July 1,
2015
.

(END)

1
HB0089