IndianaHB 1614First Regular Session 124th General Assembly (2025)House

Bullion depositories.

Sponsored By: Shane Lindauer (Republican)

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Summary

Defines "bullion" as refined silver or gold that has certain specified characteristics. Defines "specie" as bullion that is fabricated into products that are suitable for, or customarily used as, currency or a medium of exchange. Defines "specie legal tender" as: (1) specie coin issued by the United States government; or (2) any other specie that a federal court determines to be within state authority to make or designate as legal tender under the Constitution of the United States. Provides that bullion is not subject to assessment and taxation under Indiana's property tax statute. Provides that the exchange of one type or form of legal tender for another type or form of legal tender is exempt from the state gross retail tax. Provides that: (1) specie legal tender; and (2) electronic currency; are recognized as legal tender in Indiana. Provides that except as otherwise specifically provided by law or contract, a person may not compel any other person to tender or accept specie as legal tender. Provides that a prevailing party in an action for breach of any contract provision that expressly designates a type or form of specie as tender is entitled to specific performance of the contract provision.

financial institutions

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Shane Lindauer

    Republican • House

Cosponsors

  • Cindy Ledbetter

    Republican • House

  • Jake Teshka

    Republican • House

  • Jim Lucas

    Republican • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Recommitted to Committee on Ways and Means pursuant to House Rule 126.3

    2/4/2025House
  2. Committee report: amend do pass, adopted

    2/4/2025House
  3. First reading: referred to Committee on Financial Institutions

    1/21/2025House
  4. Authored by Representative Lindauer

    1/21/2025House
  5. Coauthored by Representatives Teshka, Lucas, Ledbetter

    1/21/2025House

Bill Text

  • House Bill (H)

  • Introduced House Bill (H)

Related Bills

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