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HB0239 • 2020

Specie holdings act.

AN ACT relating to taxation and revenue; authorizing payment of taxes in specie as specified; authorizing the deposit of public funds in specie and bullion depository institutions; and providing for an effective date.

Taxes
Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Representative Edwards
Last action
2020-02-14
Official status
inactive
Effective date
3/1/2020

Plain English Breakdown

The official source material does not provide a detailed summary or digest text, which limits further elaboration on specific details.

Specie Holdings Act

The bill allows taxpayers to pay taxes with specie and permits the state treasurer to deposit public funds in banks that store gold and silver.

What This Bill Does

  • Allows taxpayers to pay their taxes using specie, which are gold and silver coins.

Who It Names or Affects

  • Taxpayers who want to pay taxes with specie (gold and silver coins).
  • The state treasurer and the banks involved in storing public funds.

Terms To Know

Specie
Gold and silver coins used as money.

Limits and Unknowns

  • The bill did not pass, so it has no effect.
  • It does not specify how much specie can be used for tax payments.

Bill History

  1. 2020-02-14 House

    H Did not Consider for Introduction Vote

  2. 2020-02-12 House

    H Received for Introduction

  3. 2020-02-12 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
20LSO-0554
2020
STATE OF WYOMING
20LSO-0554
Introduced
2.0

HOUSE BILL NO. HB0239

Specie holdings act.

Sponsored by: Representative(s) Edwards and Laursen

A BILL

for

AN ACT relating to taxation and revenue; authorizing payment of taxes in specie as specified; authorizing the deposit of public funds in specie and bullion depository institutions; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
803(a), 39
‑
11
‑
101(a) by creating new paragraphs (xviii), (xix) and by renumbering (xviii) as (xx) and 39
‑
11
‑
107 are amended to read:

9
‑
4
‑
803.

Deposit of state money in approved depositories; authority of treasurer; rulemaking.

(a)

The state treasurer may deposit any portion of the public monies in his possession in any bank chartered under the laws of the United States or under the law of any state if the bank is conducting business in Wyoming and has been approved under W.S. 9
‑
4
‑
801 through 9
‑
4
‑
818 by the board of deposits. As used in W.S. 9
‑
4
‑
801 through 9
‑
4
‑
818, "bank" includes federal and state savings and loan associations
, and commercial specie and bullion depositories located within Wyoming or a contiguous state as specified by rule of the state treasurer
. Federal and state savings and loan associations
, and specified commercial specie and bullion depositories located within Wyoming or a contiguous state,
may be designated as depositories for state funds in the same manner as state and national banks
, provided the state treasurer selects no more than three (3) specie and bullion depositories
.

39
‑
11
‑
101.

Definitions.

(a)

As used in this act unless otherwise specifically provided:

(xviii)

"Legal tender" means as defined in W.S. 9
‑
4
‑
1302(a)(
i
);

(xix)

"Specie" means as defined in W.S. 9
‑
4
‑
1302(a)(ii);

(xviii)
(xx)

"This act" means W.S. 39
‑
11
‑
101 through 39
‑
22
‑
111.

39
‑
11
‑
107.

Compliance; collection procedures.

(a)

Except as otherwise provided in this section, t
here are no specific applicable provisions for compliance and collection procedures for this chapter.

(b)

Any taxes to be paid to the state may be remitted in specie legal tender.

Section 2
.

This act is effective July 1, 2020
.

(END)

1
HB0239