Utah Legal Tender Act

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Utah Legal Tender Act
Seal of Utah.svg
Utah State Legislature
Enacted by Utah House of Representatives
Date passed March 4, 2011
Enacted by Utah State Senate
Date passed March 10, 2011
Date signed March 25, 2011
Signed by Gov. Gary Herbert
Legislative history
Bill introduced in the Utah House of Representatives H.B. 317
Introduced by Rep. Brad J. Galvez
First reading February 24, 2011
Second reading March 2, 2011
Third reading March 4, 2011
Bill introduced in the Utah State Senate H.B. 317
Introduced by Sen. Scott K. Jenkins
First reading March 4, 2011
Second reading March 9, 2011
Third reading March 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.