Utah Legal Tender Act

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Utah Legal Tender Act
Seal of Utah.svg
Utah State Legislature
Enacted byUtah House of Representatives
Date passedMarch 4, 2011
Enacted byUtah State Senate
Date passedMarch 10, 2011
Date signedMarch 25, 2011
Signed byGov. Gary Herbert
Legislative history
Bill introduced in the Utah House of RepresentativesH.B. 317
Introduced byRep. Brad J. Galvez
First readingFebruary 24, 2011
Second readingMarch 2, 2011
Third readingMarch 4, 2011
Bill introduced in the Utah State SenateH.B. 317
Introduced bySen. Scott K. Jenkins
First readingMarch 4, 2011
Second readingMarch 9, 2011
Third readingMarch 10, 2011
Summary
Recognizes gold and silver coins issued by the federal government as legal tender in the state
Status: In force

The Utah Legal Tender Act, which was passed March 10, 2011, recognizes gold and silver coins as legal tender in the state of Utah.[1] This includes allowing the state of Utah to pay off debts in gold and silver and allowing individuals to transact in gold and silver coins without paying capital gains tax,[2] among other provisions.[3] The bill was introduced as HB317 by State Representative Brad J. Galvez.[4]

References[edit]

  1. ^ "Utah Legislature HB0317S01". le.utah.gov. Retrieved 2016-12-20.
  2. ^ Baude, William (2012-07-24). "The Constitutionality of the Utah Legal Tender Act". Rochester, NY: Social Science Research Network. SSRN 2555089.
  3. ^ reporter, By Charles Riley, staff. "Utah law treats gold and silver coins as legal tender - Mar. 29, 2011". money.cnn.com. Retrieved 2016-12-20.
  4. ^ "Meet Rep. Brad Galvez of Utah's 6th Legislative District - Publius Online". Publius Online. 2012-02-16. Retrieved 2016-12-20.