Missouri 2025 Regular Session

Missouri Senate Bill SB25 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2	EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted
3	3	and is intended to be omitted in the law.
4	4	FIRST REGULAR SESSION
5	5	SENATE BILL NO. 25
6	6	103RD GENERAL ASSEMBLY
7	7	INTRODUCED BY SENATOR MOON.
8	8	1037S.01I KRISTINA MARTIN, Secretary
9	9	AN ACT
10	10	To repeal sections 143.121 and 408.010, RSMo, and to enact in lieu thereof two new sections
11	11	relating to the sole purpose of regulating the treatment and use of gold and silver.
12	12
13	13	Be it enacted by the General Assembly of the State of Missouri, as follows:
14	14	Section A. Sections 143.121 and 408.010, RSMo, are 1
15	15	repealed and two new sections enacted in lieu thereof, to be 2
16	16	known as sections 143.121 and 408.010, to read as follows:3
17	17	143.121. 1. The Missouri adjusted gross income of a 1
18	18	resident individual shall be the taxpayer's federal adjusted 2
19	19	gross income subject to the modifications in this section. 3
20	20	2. There shall be added to the taxpayer's federal 4
21	21	adjusted gross income: 5
22	22	(1) The amount of any federal income tax refund 6
23	23	received for a prior year which resulted in a Missouri 7
24	24	income tax benefit. The amount added pursuant to this 8
25	25	subdivision shall not include an y amount of a federal income 9
26	26	tax refund attributable to a tax credit reducing a 10
27	27	taxpayer's federal tax liability pursuant to Public Law 116 - 11
28	28	136 or 116-260, enacted by the 116th United States Congress, 12
29	29	for the tax year beginning on or after January 1, 2 020, and 13
30	30	ending on or before December 31, 2020, and deducted from 14
31	31	Missouri adjusted gross income pursuant to section 143.171. 15
32	32	The amount added under this subdivision shall also not 16
33	33	include any amount of a federal income tax refund 17
34	34	attributable to a tax credit reducing a taxpayer's federal 18 SB 25 2
35	35	tax liability under any other federal law that provides 19
36	36	direct economic impact payments to taxpayers to mitigate 20
37	37	financial challenges related to the COVID -19 pandemic, and 21
38	38	deducted from Missouri adjusted gross in come under section 22
39	39	143.171; 23
40	40	(2) Interest on certain governmental obligations 24
41	41	excluded from federal gross income by 26 U.S.C. Section 103 25
42	42	of the Internal Revenue Code, as amended. The previous 26
43	43	sentence shall not apply to interest on obligations o f the 27
44	44	state of Missouri or any of its political subdivisions or 28
45	45	authorities and shall not apply to the interest described in 29
46	46	subdivision (1) of subsection 3 of this section. The amount 30
47	47	added pursuant to this subdivision shall be reduced by the 31
48	48	amounts applicable to such interest that would have been 32
49	49	deductible in computing the taxable income of the taxpayer 33
50	50	except only for the application of 26 U.S.C. Section 265 of 34
51	51	the Internal Revenue Code, as amended. The reduction shall 35
52	52	only be made if it is at least five hundred dollars; 36
53	53	(3) The amount of any deduction that is included in 37
54	54	the computation of federal taxable income pursuant to 26 38
55	55	U.S.C. Section 168 of the Internal Revenue Code as amended 39
56	56	by the Job Creation and Worker Assistance Act of 2002 to the 40
57	57	extent the amount deducted relates to property purchased on 41
58	58	or after July 1, 2002, but before July 1, 2003, and to the 42
59	59	extent the amount deducted exceeds the amount that would 43
60	60	have been deductible pursuant to 26 U.S.C. Section 168 of 44
61	61	the Internal Revenue Code of 1986 as in effect on January 1, 45
62	62	2002; 46
63	63	(4) The amount of any deduction that is included in 47
64	64	the computation of federal taxable income for net operating 48
65	65	loss allowed by 26 U.S.C. Section 172 of the Internal 49
66	66	Revenue Code of 1986, as amended, other than the deduction 50 SB 25 3
67	67	allowed by 26 U.S.C. Section 172(b)(1)(G) and 26 U.S.C. 51
68	68	Section 172(i) of the Internal Revenue Code of 1986, as 52
69	69	amended, for a net operating loss the taxpayer claims in the 53
70	70	tax year in which the net operating l oss occurred or carries 54
71	71	forward for a period of more than twenty years and carries 55
72	72	backward for more than two years. Any amount of net 56
73	73	operating loss taken against federal taxable income but 57
74	74	disallowed for Missouri income tax purposes pursuant to this 58
75	75	subdivision after June 18, 2002, may be carried forward and 59
76	76	taken against any income on the Missouri income tax return 60
77	77	for a period of not more than twenty years from the year of 61
78	78	the initial loss; and 62
79	79	(5) For nonresident individuals in all taxab le years 63
80	80	ending on or after December 31, 2006, the amount of any 64
81	81	property taxes paid to another state or a political 65
82	82	subdivision of another state for which a deduction was 66
83	83	allowed on such nonresident's federal return in the taxable 67
84	84	year unless such state, political subdivision of a state, or 68
85	85	the District of Columbia allows a subtraction from income 69
86	86	for property taxes paid to this state for purposes of 70
87	87	calculating income for the income tax for such state, 71
88	88	political subdivision of a state, or the Dis trict of 72
89	89	Columbia; 73
90	90	(6) For all tax years beginning on or after January 1, 74
91	91	2018, any interest expense paid or accrued in a previous 75
92	92	taxable year, but allowed as a deduction under 26 U.S.C. 76
93	93	Section 163, as amended, in the current taxable year by 77
94	94	reason of the carryforward of disallowed business interest 78
95	95	provisions of 26 U.S.C. Section 163(j), as amended. For the 79
96	96	purposes of this subdivision, an interest expense is 80
97	97	considered paid or accrued only in the first taxable year 81
98	98	the deduction would ha ve been allowable under 26 U.S.C. 82 SB 25 4
99	99	Section 163, as amended, if the limitation under 26 U.S.C. 83
100	100	Section 163(j), as amended, did not exist. 84
101	101	3. There shall be subtracted from the taxpayer's 85
102	102	federal adjusted gross income the following amounts to the 86
103	103	extent included in federal adjusted gross income: 87
104	104	(1) Interest received on deposits held at a federal 88
105	105	reserve bank or interest or dividends on obligations of the 89
106	106	United States and its territories and possessions or of any 90
107	107	authority, commission or in strumentality of the United 91
108	108	States to the extent exempt from Missouri income taxes 92
109	109	pursuant to the laws of the United States. The amount 93
110	110	subtracted pursuant to this subdivision shall be reduced by 94
111	111	any interest on indebtedness incurred to carry the des cribed 95
112	112	obligations or securities and by any expenses incurred in 96
113	113	the production of interest or dividend income described in 97
114	114	this subdivision. The reduction in the previous sentence 98
115	115	shall only apply to the extent that such expenses including 99
116	116	amortizable bond premiums are deducted in determining the 100
117	117	taxpayer's federal adjusted gross income or included in the 101
118	118	taxpayer's Missouri itemized deduction. The reduction shall 102
119	119	only be made if the expenses total at least five hundred 103
120	120	dollars; 104
121	121	(2) The portion of any gain, from the sale or other 105
122	122	disposition of property having a higher adjusted basis to 106
123	123	the taxpayer for Missouri income tax purposes than for 107
124	124	federal income tax purposes on December 31, 1972, that does 108
125	125	not exceed such difference in basis. If a gain is 109
126	126	considered a long-term capital gain for federal income tax 110
127	127	purposes, the modification shall be limited to one -half of 111
128	128	such portion of the gain; 112
129	129	(3) The amount necessary to prevent the taxation 113
130	130	pursuant to this chapter of any annuity or other amount of 114 SB 25 5
131	131	income or gain which was properly included in income or gain 115
132	132	and was taxed pursuant to the laws of Missouri for a taxable 116
133	133	year prior to January 1, 1973, to the taxpayer, or to a 117
134	134	decedent by reason of whose death the taxpayer acquire d the 118
135	135	right to receive the income or gain, or to a trust or estate 119
136	136	from which the taxpayer received the income or gain; 120
137	137	(4) Accumulation distributions received by a taxpayer 121
138	138	as a beneficiary of a trust to the extent that the same are 122
139	139	included in federal adjusted gross income; 123
140	140	(5) The amount of any state income tax refund for a 124
141	141	prior year which was included in the federal adjusted gross 125
142	142	income; 126
143	143	(6) The portion of capital gain specified in section 127
144	144	135.357 that would otherwise be inclu ded in federal adjusted 128
145	145	gross income; 129
146	146	(7) The amount that would have been deducted in the 130
147	147	computation of federal taxable income pursuant to 26 U.S.C. 131
148	148	Section 168 of the Internal Revenue Code as in effect on 132
149	149	January 1, 2002, to the extent that amo unt relates to 133
150	150	property purchased on or after July 1, 2002, but before July 134
151	151	1, 2003, and to the extent that amount exceeds the amount 135
152	152	actually deducted pursuant to 26 U.S.C. Section 168 of the 136
153	153	Internal Revenue Code as amended by the Job Creation and 137
154	154	Worker Assistance Act of 2002; 138
155	155	(8) For all tax years beginning on or after January 1, 139
156	156	2005, the amount of any income received for military service 140
157	157	while the taxpayer serves in a combat zone which is included 141
158	158	in federal adjusted gross income and not otherwise excluded 142
159	159	therefrom. As used in this section, "combat zone" means any 143
160	160	area which the President of the United States by Executive 144
161	161	Order designates as an area in which Armed Forces of the 145
162	162	United States are or have engaged in combat. Service is 146 SB 25 6
163	163	performed in a combat zone only if performed on or after the 147
164	164	date designated by the President by Executive Order as the 148
165	165	date of the commencing of combat activities in such zone, 149
166	166	and on or before the date designated by the President by 150
167	167	Executive Order as the date of the termination of combatant 151
168	168	activities in such zone; 152
169	169	(9) For all tax years ending on or after July 1, 2002, 153
170	170	with respect to qualified property that is sold or otherwise 154
171	171	disposed of during a taxable year by a taxpayer and for 155
172	172	which an additional modification was made under subdivision 156
173	173	(3) of subsection 2 of this section, the amount by which 157
174	174	additional modification made under subdivision (3) of 158
175	175	subsection 2 of this section on qualified property has not 159
176	176	been recovered through th e additional subtractions provided 160
177	177	in subdivision (7) of this subsection; 161
178	178	(10) For all tax years beginning on or after January 162
179	179	1, 2014, the amount of any income received as payment from 163
180	180	any program which provides compensation to agricultural 164
181	181	producers who have suffered a loss as the result of a 165
182	182	disaster or emergency, including the: 166
183	183	(a) Livestock Forage Disaster Program; 167
184	184	(b) Livestock Indemnity Program; 168
185	185	(c) Emergency Assistance for Livestock, Honeybees, and 169
186	186	Farm-Raised Fish; 170
187	187	(d) Emergency Conservation Program; 171
188	188	(e) Noninsured Crop Disaster Assistance Program; 172
189	189	(f) Pasture, Rangeland, Forage Pilot Insurance Program; 173
190	190	(g) Annual Forage Pilot Program; 174
191	191	(h) Livestock Risk Protection Insurance Plan; 175
192	192	(i) Livestock Gross Margin Insurance Plan; 176
193	193	(11) For all tax years beginning on or after January 177
194	194	1, 2018, any interest expense paid or accrued in the current 178 SB 25 7
195	195	taxable year, but not deducted as a result of the limitation 179
196	196	imposed under 26 U.S.C. Section 163(j), as amended. For the 180
197	197	purposes of this subdivision, an interest expense is 181
198	198	considered paid or accrued only in the first taxable year 182
199	199	the deduction would have been allowable under 26 U.S.C. 183
200	200	Section 163, as amended, if the limitation under 26 U.S. C. 184
201	201	Section 163(j), as amended, did not exist; 185
202	202	(12) One hundred percent of any retirement benefits 186
203	203	received by any taxpayer as a result of the taxpayer's 187
204	204	service in the Armed Forces of the United States, including 188
205	205	reserve components and the Nation al Guard of this state, as 189
206	206	defined in 32 U.S.C. Sections 101(3) and 109, and any other 190
207	207	military force organized under the laws of this state; [and] 191
208	208	(13) For all tax years beginning on or after January 192
209	209	1, 2022, one hundred percent of any federal, s tate, or local 193
210	210	grant moneys received by the taxpayer if the grant money was 194
211	211	disbursed for the express purpose of providing or expanding 195
212	212	access to broadband internet to areas of the state deemed to 196
213	213	be lacking such access ; and 197
214	214	(14) For all tax years beginning on or after January 198
215	215	1, 2026, the portion of capital gain on the sale or exchange 199
216	216	of specie, as that term is defined in section 408.010, that 200
217	217	are otherwise included in the taxpayer's federal adjusted 201
218	218	gross income. 202
219	219	4. There shall be added to or subtracted from the 203
220	220	taxpayer's federal adjusted gross income the taxpayer's 204
221	221	share of the Missouri fiduciary adjustment provided in 205
222	222	section 143.351. 206
223	223	5. There shall be added to or subtracted from the 207
224	224	taxpayer's federal adjusted gross incom e the modifications 208
225	225	provided in section 143.411. 209 SB 25 8
226	226	6. In addition to the modifications to a taxpayer's 210
227	227	federal adjusted gross income in this section, to calculate 211
228	228	Missouri adjusted gross income there shall be subtracted 212
229	229	from the taxpayer's federal adjusted gross income any gain 213
230	230	recognized pursuant to 26 U.S.C. Section 1033 of the 214
231	231	Internal Revenue Code of 1986, as amended, arising from 215
232	232	compulsory or involuntary conversion of property as a result 216
233	233	of condemnation or the imminence thereof. 217
234	234	7. (1) As used in this subsection, "qualified health 218
235	235	insurance premium" means the amount paid during the tax year 219
236	236	by such taxpayer for any insurance policy primarily 220
237	237	providing health care coverage for the taxpayer, the 221
238	238	taxpayer's spouse, or the taxpayer' s dependents. 222
239	239	(2) In addition to the subtractions in subsection 3 of 223
240	240	this section, one hundred percent of the amount of qualified 224
241	241	health insurance premiums shall be subtracted from the 225
242	242	taxpayer's federal adjusted gross income to the extent the 226
243	243	amount paid for such premiums is included in federal taxable 227
244	244	income. The taxpayer shall provide the department of 228
245	245	revenue with proof of the amount of qualified health 229
246	246	insurance premiums paid. 230
247	247	8. (1) Beginning January 1, 2014, in addition to the 231
248	248	subtractions provided in this section, one hundred percent 232
249	249	of the cost incurred by a taxpayer for a home energy audit 233
250	250	conducted by an entity certified by the department of 234
251	251	natural resources under section 640.153 or the 235
252	252	implementation of any energy effic iency recommendations made 236
253	253	in such an audit shall be subtracted from the taxpayer's 237
254	254	federal adjusted gross income to the extent the amount paid 238
255	255	for any such activity is included in federal taxable 239
256	256	income. The taxpayer shall provide the department of 240
257	257	revenue with a summary of any recommendations made in a 241 SB 25 9
258	258	qualified home energy audit, the name and certification 242
259	259	number of the qualified home energy auditor who conducted 243
260	260	the audit, and proof of the amount paid for any activities 244
261	261	under this subsection f or which a deduction is claimed. The 245
262	262	taxpayer shall also provide a copy of the summary of any 246
263	263	recommendations made in a qualified home energy audit to the 247
264	264	department of natural resources. 248
265	265	(2) At no time shall a deduction claimed under this 249
266	266	subsection by an individual taxpayer or taxpayers filing 250
267	267	combined returns exceed one thousand dollars per year for 251
268	268	individual taxpayers or cumulatively exceed two thousand 252
269	269	dollars per year for taxpayers filing combined returns. 253
270	270	(3) Any deduction claime d under this subsection shall 254
271	271	be claimed for the tax year in which the qualified home 255
272	272	energy audit was conducted or in which the implementation of 256
273	273	the energy efficiency recommendations occurred. If 257
274	274	implementation of the energy efficiency recommendatio ns 258
275	275	occurred during more than one year, the deduction may be 259
276	276	claimed in more than one year, subject to the limitations 260
277	277	provided under subdivision (2) of this subsection. 261
278	278	(4) A deduction shall not be claimed for any otherwise 262
279	279	eligible activity unde r this subsection if such activity 263
280	280	qualified for and received any rebate or other incentive 264
281	281	through a state-sponsored energy program or through an 265
282	282	electric corporation, gas corporation, electric cooperative, 266
283	283	or municipally owned utility. 267
284	284	9. The provisions of subsection 8 of this section 268
285	285	shall expire on December 31, 2020. 269
286	286	10. (1) As used in this subsection, the following 270
287	287	terms mean: 271
288	288	(a) "Beginning farmer", a taxpayer who: 272 SB 25 10
289	289	a. Has filed at least one but not more than ten 273
290	290	Internal Revenue Service Schedule F (Form 1040) Profit or 274
291	291	Loss From Farming forms since turning eighteen years of age; 275
292	292	b. Is approved for a beginning farmer loan through the 276
293	293	USDA Farm Service Agency Beginning Farmer direct or 277
294	294	guaranteed loan program; 278
295	295	c. Has a farming operation that is determined by the 279
296	296	department of agriculture to be new production agriculture 280
297	297	but is the principal operator of a farm and has substantial 281
298	298	farming knowledge; or 282
299	299	d. Has been determined by the department of 283
300	300	agriculture to be a qualified family member; 284
301	301	(b) "Farm owner", an individual who owns farmland and 285
302	302	disposes of or relinquishes use of all or some portion of 286
303	303	such farmland as follows: 287
304	304	a. A sale to a beginning farmer; 288
305	305	b. A lease or rental agre ement not exceeding ten years 289
306	306	with a beginning farmer; or 290
307	307	c. A crop-share arrangement not exceeding ten years 291
308	308	with a beginning farmer; 292
309	309	(c) "Qualified family member", an individual who is 293
310	310	related to a farm owner within the fourth degree by bl ood, 294
311	311	marriage, or adoption and who is purchasing or leasing or is 295
312	312	in a crop-share arrangement for land from all or a portion 296
313	313	of such farm owner's farming operation. 297
314	314	(2) (a) In addition to all other subtractions 298
315	315	authorized in this section, a taxp ayer who is a farm owner 299
316	316	who sells all or a portion of such farmland to a beginning 300
317	317	farmer may subtract from such taxpayer's Missouri adjusted 301
318	318	gross income an amount to the extent included in federal 302
319	319	adjusted gross income as provided in this subdivisio n. 303 SB 25 11
320	320	(b) Subject to the limitations in paragraph (c) of 304
321	321	this subdivision, the amount that may be subtracted shall be 305
322	322	equal to the portion of capital gains received from the sale 306
323	323	of such farmland that such taxpayer receives in the tax year 307
324	324	for which such taxpayer subtracts such capital gain. 308
325	325	(c) A taxpayer may subtract the following amounts and 309
326	326	percentages per tax year in total capital gains received 310
327	327	from the sale of such farmland under this subdivision: 311
328	328	a. For the first two million dol lars received, one 312
329	329	hundred percent; 313
330	330	b. For the next one million dollars received, eighty 314
331	331	percent; 315
332	332	c. For the next one million dollars received, sixty 316
333	333	percent; 317
334	334	d. For the next one million dollars received, forty 318
335	335	percent; and 319
336	336	e. For the next one million dollars received, twenty 320
337	337	percent. 321
338	338	(d) The department of revenue shall prepare an annual 322
339	339	report reviewing the costs and benefits and containing 323
340	340	statistical information regarding the subtraction of capital 324
341	341	gains authorized under this subdivision for the previous tax 325
342	342	year including, but not limited to, the total amount of all 326
343	343	capital gains subtracted and the number of taxpayers 327
344	344	subtracting such capital gains. Such report shall be 328
345	345	submitted before February first of each ye ar to the 329
346	346	committee on agriculture policy of the Missouri house of 330
347	347	representatives and the committee on agriculture, food 331
348	348	production and outdoor resources of the Missouri senate, or 332
349	349	the successor committees. 333
350	350	(3) (a) In addition to all other subt ractions 334
351	351	authorized in this section, a taxpayer who is a farm owner 335 SB 25 12
352	352	who enters a lease or rental agreement for all or a portion 336
353	353	of such farmland with a beginning farmer may subtract from 337
354	354	such taxpayer's Missouri adjusted gross income an amount to 338
355	355	the extent included in federal adjusted gross income as 339
356	356	provided in this subdivision. 340
357	357	(b) Subject to the limitation in paragraph (c) of this 341
358	358	subdivision, the amount that may be subtracted shall be 342
359	359	equal to the portion of cash rent income received from the 343
360	360	lease or rental of such farmland that such taxpayer receives 344
361	361	in the tax year for which such taxpayer subtracts such 345
362	362	income. 346
363	363	(c) No taxpayer shall subtract more than twenty -five 347
364	364	thousand dollars per tax year in total cash rent income 348
365	365	received from the lease or rental of such farmland under 349
366	366	this subdivision. 350
367	367	(4) (a) In addition to all other subtractions 351
368	368	authorized in this section, a taxpayer who is a farm owner 352
369	369	who enters a crop-share arrangement on all or a portion of 353
370	370	such farmland with a beginning farmer may subtract from such 354
371	371	taxpayer's Missouri adjusted gross income an amount to the 355
372	372	extent included in federal adjusted gross income as provided 356
373	373	in this subdivision. 357
374	374	(b) Subject to the limitation in paragraph (c) of this 358
375	375	subdivision, the amount that may be subtracted shall be 359
376	376	equal to the portion of income received from the crop -share 360
377	377	arrangement on such farmland that such taxpayer receives in 361
378	378	the tax year for which such taxpayer subtracts such income. 362
379	379	(c) No taxpayer shall subtract more than twenty -five 363
380	380	thousand dollars per tax year in total income received from 364
381	381	the lease or rental of such farmland under this subdivision. 365
382	382	(5) The department of agriculture shall, by rule, 366
383	383	establish a process to verify that a taxpayer is a beginning 367 SB 25 13
384	384	farmer for purposes of this section and shall provide 368
385	385	verification to the beginning farmer and farm seller of such 369
386	386	farmer's and seller's certification and qualification for 370
387	387	the exemption provided in this subsection. 371
388	388	408.010. [The silver coins of the United States are 1
389	389	hereby declared a] 1. This section shall be known and may 2
390	390	be cited as the "Constitutional Money Act". 3
391	391	2. Specie legal tender and electronic currency shall 4
392	392	be accepted as legal tender[, at their par value, fixed by 5
393	393	the laws of the United States, and shall be receivable in ] 6
394	394	for payment of all public debts[, public or private, ] 7
395	395	hereafter contracted in the state of Missouri [; provided, 8
396	396	however, that no person shall have the right to pay , upon 9
397	397	any one debt, dimes and half dimes to an amount exceeding 10
398	398	ten dollars, or of twenty and twenty -five cent pieces 11
399	399	exceeding twenty dollars ] and may be accepted as payment for 12
400	400	all private debts hereafter contracted in the state of 13
401	401	Missouri, in the discretion of the receiving entity. 14
402	402	3. The director of the department of revenue shall 15
403	403	promulgate rules on the methods of acceptance of specie 16
404	404	legal tender as payment for any debt, tax, fee, or 17
405	405	obligation owed. Costs incurred in the course of 18
406	406	verification of the weight and purity of any specie legal 19
407	407	tender or electronic currency during any such transaction 20
408	408	shall be borne by the receiving entity. Any rule or portion 21
409	409	of a rule, as that term is defined in section 536.010, that 22
410	410	is created under the authority delegated in this subsection 23
411	411	shall become effective only if it complies with and is 24
412	412	subject to all of the provisions of chapter 536 and, if 25
413	413	applicable, section 536.028. This subsection and chapter 26
414	414	536 are nonseverable and if any of the powers vested with 27
415	415	the general assembly pursuant to chapter 536 to review, to 28 SB 25 14
416	416	delay the effective date, or to disapprove and annul a rule 29
417	417	are subsequently held unconstitutional, then the grant of 30
418	418	rulemaking authority and any rule proposed or adopted a fter 31
419	419	August 28, 2025, shall be invalid and void. 32
420	420	4. Except as expressly provided by contract, no person 33
421	421	or entity shall be required to use specie legal tender or 34
422	422	electronic currency in the payment of any debt and nothing 35
423	423	in this section shall pro hibit the use of federal reserve 36
424	424	notes in the payment of any debt. 37
425	425	5. Any entity doing business in this state may, if 38
426	426	requested by an employee, pay compensation to such employee, 39
427	427	in full or in part, in the dollar equivalent specie legal 40
428	428	tender either in physical or in electronic transfer form. 41
429	429	Any entity choosing to compensate its employees in specie 42
430	430	legal tender shall be responsible for verifying the weight 43
431	431	and purity of any physical specie legal tender before 44
432	432	compensating employees. 45
433	433	6. Under no circumstance shall the state of Missouri 46
434	434	or any department, agency, court, political subdivision, or 47
435	435	instrumentality thereof: 48
436	436	(1) Seize from any person any specie legal tender or 49
437	437	electronic currency that is owned by such person, except as 50
438	438	otherwise provided in section 513.607. Any person whose 51
439	439	specie legal tender or electronic currency is seized in 52
440	440	violation of this subdivision shall have a cause of action 53
441	441	in a court of competent jurisdiction, with any successful 54
442	442	such action resulting in the award of attorney's fees; 55
443	443	(2) Enforce or attempt to enforce any federal acts, 56
444	444	laws, executive orders, administrative orders, rules, 57
445	445	regulations, statutes, or ordinances infringing on the right 58
446	446	of a person to keep and use specie legal te nder and 59
447	447	electronic currency as provided in this section; 60 SB 25 15
448	448	(3) Restrict in any way the ability of a person or 61
449	449	financial institution to acquire specie legal tender or 62
450	450	electronic currency or use specie legal tender or electronic 63
451	451	currency in transact ions; or 64
452	452	(4) Enact any law discriminating or favoring one means 65
453	453	of legal tender in the course of a transaction over another 66
454	454	means of legal tender. 67
455	455	7. For purposes of this section, the following terms 68
456	456	mean: 69
457	457	(1) "Bullion", refined precio us metal, limited to gold 70
458	458	and silver only, in any shape or form, with uniform content 71
459	459	and purity, including, but not limited to, coins, rounds, 72
460	460	bars, ingots, and any other products, that are: 73
461	461	(a) Stamped or imprinted with the weight and purity of 74
462	462	the precious metal that it contains; and 75
463	463	(b) Valued primarily based on its metal content and 76
464	464	not on its form and function; 77
465	465	(2) "Electronic currency", a representation of actual 78
466	466	gold and silver, specie, and bullion held in an account, 79
467	467	which may be transferred by electronic instruction. Such 80
468	468	representation shall reflect the exact unit of physical 81
469	469	specie or gold and silver bullion in the account in its 82
470	470	fractional troy ounce measurement as provided in this 83
471	471	section; 84
472	472	(3) "Legal tender", a recognized medium of exchange 85
473	473	for the payment of debts, public charges, taxes, or dues 86
474	474	that is: 87
475	475	(a) Authorized by the United States Congress pursuant 88
476	476	to Article I, Section 8 of the United States Constitution; or 89
477	477	(b) Authorized by Missouri law pursuant to Article I, 90
478	478	Section 10 of the United States Constitution; 91
479	479	(4) "Precious metal", gold or silver; 92 SB 25 16
480	480	(5) "Specie", bullion fabricated into products of 93
481	481	uniform shape, size, design, content, weight, and purity 94
482	482	that are suitable for or customarily used as currency, as a 95
483	483	medium of exchange, or as the medium for purchase, sale, 96
484	484	storage, transfer, or delivery of precious metals in retail 97
485	485	or wholesale transactions; 98
486	486	(6) "Specie legal tender", includes any of the 99
487	487	following: 100
488	488	(a) Specie coin issued by the federal government at 101
489	489	any time; and 102
490	490	(b) Any other specie, provided such specie does not 103
491	491	contain any insignia, symbols, or other recognizable logos 104
492	492	of the Nazi Party. 105
493	493	