HB0103 • 2018

Wyoming Legal Tender Act.

AN ACT relating to administration of the government; recognizing specie as legal tender as specified; specifying that specie and specie legal tender shall not be taxed; providing that the use of specie as tender is voluntary; and providing for an effective date.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Representative Edwards
Last action: 2018-03-14
Official status: enrolled
Effective date: 7/1/2018

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HB0103HS001

Standing Committee • HMinerals

Adopted

Plain English: Adopted Standing Committee by HMinerals

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

HB0103SW001

Committee of the Whole • Von Flatern

Adopted

Plain English: Adopted Committee of the Whole by Von Flatern

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

2018-03-14 Wyoming Legislature
HEA No. 0046 Became law without signature
2018-03-14 LSO
Assigned Chapter Number 87
2018-03-09 Senate
S President Signed HEA No. 0046
2018-03-09 House
H Speaker Signed HEA No. 0046
2018-03-08 LSO
Assigned Number HEA No. 0046
2018-03-08 House
H Concur:Passed 55-5-0-0-0
2018-03-07 House
H Received for Concurrence
2018-03-07 Senate
S 3rd Reading:Passed 25-5-0-0-0
2018-03-06 Senate
S 2nd Reading:Passed
2018-03-05 Senate
S COW:Passed
2018-03-02 Senate
S Placed on General File
2018-03-02 Senate
S09 - Minerals:Recommend Do Pass 4-1-0-0-0
2018-02-28 Senate
S Introduced and Referred to S09 - Minerals
2018-02-28 Senate
S Received for Introduction
2018-02-27 House
H 3rd Reading:Passed 44-14-2-0-0
2018-02-23 House
H 2nd Reading:Passed
2018-02-22 House
H COW:Passed
2018-02-20 House
H Placed on General File
2018-02-20 House
H09 - Minerals:Recommend Amend and Do Pass 8-1-0-0-0
2018-02-15 House
H Introduced and Referred to H09 - Minerals 48-11-1-0-0
2018-02-09 House
H Received for Introduction
2018-02-06 LSO
Bill Number Assigned

Official Summary Text

Bill Summary

Bill No.:
HB0103
Effective
:
7/1/2018

LSO No.:
18LSO-0331

Enrolled Act No.:
HEA No. 0046

Chapter No.:
87

Prime Sponsor:
Edwards

Catch Title:
Wyoming Legal Tender Act.

Subject:
Specie and specie legal tender
.

Summary/Major Elements:

This bill defines "specie" as coin having gold or silver content, or refined gold or silver bullion which is coined, stamped or imprinted with its weight and purity and valued primarily based on its metal content and not its form.

Th
is
bill recognizes specie that is issued by the U.S. government or a foreign government
as legal tender in Wyoming. This
bill would also recognize any specie as legal tender that a court of competent jurisdiction rules that the state of Wyoming has the authority to make or designate as legal tender.

Th
is
bill specifies that specie, including specie legal tender, is exempt from property and sales tax.

This
bill provides that the use of specie as legal tender is voluntary.

The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill
.

Current Bill Text

Read the full stored bill text

ORIGINAL
House
ENGROSSED
Bill No
.
HB0103

ENROLLED ACT NO. 46,

HOUSE OF REPRESENTATIVES

SIXTY-FOURTH LEGISLATURE OF THE STATE OF WYOMING
2018 Budget Session

AN ACT relating to administration of the government; recognizing specie as legal tender as specified; specifying that specie and specie legal tender shall not be taxed; providing that the use of specie as tender is voluntary; 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
‑
130
5

are
created to read:

ARTICLE 13
WYO
MING 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 a recognized medium of exchange for the payment of debts and taxes;

(ii)

"Specie" means:

(A)

Coin having gold or silver content; or

(B)

Refined gold or silver bullion which is coined, stamped or imprinted with its weight and purity and valued primarily based on its metal content and not its form.

9
‑
4
‑
1303
.

Specie legal tender.

(a)

Specie legal tender in Wyoming shall consist of:

(
i
)

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

(ii)

Specie coin issued by any foreign government at any time;

(ii
i
)

Any other specie that a
federal
court of competent jurisdiction, by final and
un
appealable order, rules to be within state authority to ma
ke or designate as legal tender. No court of the state of Wyoming shall be deemed to be a court of competent jurisdiction for purposes of this paragraph.

9
‑
4
‑
1304
.

Taxation issues related specie and
specie
legal tender.

(a)

No specie or
specie
legal tender shall be characterized as personal property for the purposes of property taxation.

(b)

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

(c)

The purchase, sale or exchange of any type or form of specie
or specie legal tender
shall not give rise to any tax liability of any kind.

9
‑
4
‑
1305
.

Voluntary use of specie as tender.

Unless
specifically
provided by law or by contract, no person
or legal entity
shall have the right to compel any other person
or legal entity
to tender specie or to accept specie as
legal
tender.

Section 2
.

W.S. 39
‑
11
‑
105(b)(vi)(A) and 39
‑
15
‑
101(a)(xxxi)(A) are amended to read:

39
‑
11
‑
105
.

Exemptions.

(b)

The following shall be exempt from property taxation:

(vi)

Any of the following intangible items:

(A)

Money and cash on hand including currency, gold, silver and other coin,

specie and specie legal tender as provided in W.S. 9
‑
4
‑
1304,
bank drafts, certified checks and cashier's checks;

39
‑
15
‑
101
.

Definitions.

(a)

As used in this article:

(xxxi)

"Intangible personal property" includes:

(A)

Money and cash on hand including currency, gold, silver and other coin,

specie and specie legal tender as provided in W.S. 9
‑
4
‑
1304,
bank drafts, certified checks and cashier's checks;

Section
3
.

This act is effective July 1, 201
8
.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the
House
.

Chief Clerk

1