Oklahoma 2025 Regular Session

Oklahoma House Bill HB1199 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - HB1199 SFLR Page 1
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	3	+	ENGR. H. B. NO. 1199 Page 1 1
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29		-	SENATE FLOOR VERSION
30		-	April 15, 2025
31		-	AS AMENDED
32		-
33	28		ENGROSSED HOUSE
34	29		BILL NO. 1199 By: Maynard, Lawson, Hays,
35	30		Adams, Woolley, Roberts,
36	31		Newton, and Hall of the
37	32		House
38	33
39	34		and
40	35
41		-	Bullard, McIntosh, Prieto,
42		-	Grellner, Deevers, Guthrie,
43		-	Alvord, Wingard, Burns,
44		-	Sacchieri, Stewart,
45		-	Bergstrom, Murdock,
46		-	Standridge, Pederson, Frix,
47		-	Boren, and Weaver of the
48		-	Senate
	36	+	Bullard of the Senate
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53		-	An Act relating to legal tender; amending 62 O.S.
54		-	2021, Section 4500, which relates to Federal gold and
55		-	silver coins as Oklahoma legal tender; modifying
56		-	language; defining terms; providing explanation of
57		-	specie or legal tender; clarifying characterization
58		-	of specie or legal tender for tax and regulation
59		-	purposes; directing that certain exchanges shall not
60		-	result in tax liability; directing that purchase,
61		-	sale, or exchange of specie shall not result in tax
62		-	liability; stipulating specie cannot be compelled as
63		-	tender unless under law or contract; directing Office
64		-	of the Attorney General to enforce; directing
65		-	Oklahoma courts on adjudication in certain cases;
66		-	permitting specie to be recognized to pay debts; and
67		-	providing an effective date.
	41	+
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	43	+
	44	+	[ legal tender - federal gold and silver coins -
	45	+	legal tender - explanation of specie or legal
	46	+	tender - characterization - exchanges - tax
	47	+	liability – Office of the Attorney General -
	48	+	Oklahoma courts - adjudication – debts - effective
	49	+	date ]
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71	54		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
72	55		SECTION 1. AMENDATORY 62 O.S. 202 1, Section 4500, is
73	56		amended to read as follows:
	57	+	Section 4500. Gold and silver coins issued by the United States
	58	+	government are legal tender in the State of Oklahoma. No person may
	59	+	compel another person to tender or accept gold or silver coins that
	60	+	are issued by the United States government, except as agreed upon by
	61	+	contract.
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75		-	SENATE FLOOR VERSION - HB1199 SFLR Page 2
76		-	(Bold face denotes Committee Amendments) 1
	63	+	ENGR. H. B. NO. 1199 Page 2 1
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101		-	Section 4500. Gold and silver coins issued by the United States
102		-	government are legal tender in the State of Oklahoma. No person may
103		-	compel another person to tender or accept gold or silver coins that
104		-	are issued by the United States government, except as agreed upon by
105		-	contract.
106	88		A. As used in this act:
107	89		1. "Legal tender" means a recognized medium of exchange for the
108	90		payment of debts and taxes; and
109	91		2. "Specie" means:
110	92		a. coin having gold or silver content, or
111	93		b. refined gold or silver bullion that is:
112	94		(1) coined, stamped, or imprinted with its weight,
113	95		and
114	96		(2) valued primarily based on its metal content and
115	97		not its form.
116	98		B. Specie or legal tender shall consist of:
117	99		1. Specie coin issued by the United States go vernment; or
118	100		2. Other specie that an Oklahoma court rules to be within state
119	101		authority to make or designate as legal tender.
120	102		C. Specie or legal tender shall not be characterized as
121	103		personal property for taxation or regulatory purposes.
122	104		D. 1. The exchange of one type or form of legal tender for
123	105		another type or form of legal tender shall not give rise to any tax
124	106		liability.
	107	+	2. The purchase, sale, or exchange of any type or form of
	108	+	specie shall not give rise to any tax liability.
	109	+	E. Unless specifically pr ovided by law or by contract, a person
	110	+	shall not compel another person to tender specie or to accept specie
	111	+	as legal tender.
125	112
126		-	SENATE FLOOR VERSION - HB1199 SFLR Page 3
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	113	+	ENGR. H. B. NO. 1199 Page 3 1
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152		-	2. The purchase, sale, or exchange of any type or form of
153		-	specie shall not give rise to any tax liability.
154		-	E. Unless specifically provided by law or by contract, a person
155		-	shall not compel another p erson to tender specie or to accept specie
156		-	as legal tender.
157	138		F. The Office of the Attorney General shall enforce this act
158	139		without prejudice to a private right of action.
159	140		G. If a valid contra ct expressly designates a type or form of
160	141		specie as tender, then an Oklahoma court asked to adjudicate the
161	142		breach of such a contract shall require, as a remedy for the breach,
162	143		the specific performance of tendering the type or form of specie
163	144		specified in the contract.
164	145		H. Specie may be recognized to pay debts.
165	146		SECTION 2. This act shall become effective November 1, 2025.
166		-	COMMITTEE REPORT BY: COMMITTEE ON RETIREMENT AND GOVERNMENT
167		-	RESOURCES
168		-	April 15, 2025 - DO PASS AS AMENDED
	147	+	Passed the House of Representatives the 24th day of March, 2025.
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	151	+
	152	+	Presiding Officer of the House
	153	+	of Representatives
	154	+
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	157	+	Passed the Senate the _____ day of __________, 2025.
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	162	+	Presiding Officer of the Senate
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