All Roll Calls
Yes: 122 • No: 1
ArkansasHB19182025 Regular SessionHouseWALLET
TO AMEND THE LAW CONCERNING SPECIE OR LEGAL TENDER; TO AUTHORIZE THE USE OF A BULLION DEPOSITORY; AND TO ALLOW FOR A PRECIOUS METALS-BACKED ELECTRONIC SYSTEM.
Sponsored By: Jim Dotson (Republican), Mindy McAlindon (Republican)
Enacted
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Gold and silver expand payment options
The law permits gold or silver payments for private debts and government taxes and fees. State and local governments must agree to accept physical gold or silver. No one must pay with or accept qualifying metal money unless a law or contract requires it. Qualifying metal money includes U.S.-issued specie coins and other specie lawfully recognized by Arkansas. Under Arkansas law, exchanging legal tender or buying, selling, or exchanging specie creates no tax liability. Specie or legal tender is not treated as personal property for taxes or regulation. Courts must enforce contracts that expressly require a particular form of specie by ordering payment in that form. The attorney general enforces these bullion and tender rules, and private lawsuits remain available.
Bullion payments offer choices with costs
Arkansas creates a framework for approved electronic accounts that let people buy, sell, save, or spend gold or silver bullion. Bullion must be stored in a U.S. vault accredited by the London Bullion Market Association and following its best practices. The vault must have a contract with the system provider. Electronic gold and silver must be fully redeemable in physical metal, with exact amounts shown in fractional troy ounces or grams. Arkansas's chief fiscal officer must approve providers and set rules for security, enough stored bullion, and fraud prevention. Rules must let participating sellers choose bullion or dollars at no added cost to them, using agreed conversion terms. Contracts divide account, conversion, and other costs among account holders, system providers, and depositories.
Sponsors & Cosponsors
Sponsors
Jim Dotson
Republican • Senate
Mindy McAlindon
Republican • House
Cosponsors
Clint Penzo
Republican • Senate
Matt McKee
Republican • Senate
Roll Call Votes
Senate vote • 4/14/2025
Senate Vote - Monday, April 14, 2025 3:30:44 PM
Yes: 33 • No: 0 • Other: 1
House vote • 4/8/2025
House Vote - Tuesday, April 8, 2025 3:29:12 PM
Yes: 89 • No: 1
Actions Timeline
Notification that HB1918 is now Act 810
4/17/2025HouseCorrectly enrolled and ordered transmitted to the Governor's Office.
4/15/2025HouseTO BE ENROLLED
4/14/2025HouseReturned from the Senate as passed.
4/14/2025HouseReturned to the House as passed.
4/14/2025SenateRead the third time and passed.
4/14/2025SenateReturned by the Committee, with the recommendation that it Do Pass
4/10/2025SenateRead first time, rules suspended, read second time, referred to INSURANCE & COMMERCE - SENATE
4/8/2025SenateReceived from the House.
4/8/2025SenateRead the third time and passed and ordered transmitted to the Senate.
4/8/2025HouseReturned by the Committee Do Pass
4/7/2025HouseREPORTED CORRECTLY ENGROSSED
4/2/2025HouseAmendment No. 1 read and adopted and the bill ordered engrossed.
4/2/2025HousePlaced on second reading for the purpose of amendment.
4/2/2025HouseRead the first time, rules suspended, read the second time and referred to the Committee on INSURANCE & COMMERCE- HOUSE
3/31/2025HouseFiled
3/31/2025House
Bill Text
HB1918 - Introduced
3/31/2025
Act Version
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