The Missouri legislature has passed a bill that would allow the state government to accept gold and silver as payment for taxes and other transactions.
An amendment was added to a finance-related bill to make the precious metals legal tender, The Kansas City Star reported. The bill passed the legislature on Monday and is headed to Missouri Gov. Mike Kehoe’s (R) desk.
The legislation, led by Republicans, would require state government entities to accept electronic versions of gold and silver, called “electronic specie currency,” as payment for taxes and public debts. The bill doesn’t require businesses to accept gold and silver as payment for private uses, but it would allow them to do so.
If the governor signs the bill into law, then the Missouri Department of Revenue would be required to make rules on how to implement the law when it takes effect in August.
Kehoe’s spokesperson didn’t say whether the governor would sign the bill into law, but noted that it would “receive a thorough review by Governor Kehoe and his team.”
“The goal is about restoring economic and political freedom back to everyday Missourians,” state Rep. Bill Hardwick (R) said.
The passage of the Missouri bill comes after Florida passed a similar bill into law last month, which Gov. Ron DeSantis (R) said he will sign into law.
Utah became the first state to let gold and silver to be used as payment in 2011.
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