LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION April 11, 2025 TO: Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HJR175 by Gerdes (Proposing a constitutional amendment relating to the right to own, hold, and use a mutually agreed upon medium of exchange.), As Introduced No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $191,689. The proposed constitutional amendment would amend the Texas Constitution by adding a new section establishing the right of individuals to own, hold, and use a mutually agreed-upon medium of exchange, such as cash, coin, bullion, digital currency, or privately issued scrip, for trading and contracting goods and services. The amendment would prohibit any government from restricting or encumbering the ownership or holding of any form or amount of money or currency. However, the amendment would not restrict the state from choosing which medium of exchange it will accept for payments to the state.The proposed amendment would have no revenue implications and would not impose substantive restrictions or requirements on the state.The proposed amendment would be submitted to voters at an election to be held November 4, 2025. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, FV, SD, KK
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION
April 11, 2025
TO: Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HJR175 by Gerdes (Proposing a constitutional amendment relating to the right to own, hold, and use a mutually agreed upon medium of exchange.), As Introduced
TO: Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HJR175 by Gerdes (Proposing a constitutional amendment relating to the right to own, hold, and use a mutually agreed upon medium of exchange.), As Introduced
Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services
Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HJR175 by Gerdes (Proposing a constitutional amendment relating to the right to own, hold, and use a mutually agreed upon medium of exchange.), As Introduced
HJR175 by Gerdes (Proposing a constitutional amendment relating to the right to own, hold, and use a mutually agreed upon medium of exchange.), As Introduced
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $191,689.
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $191,689.
The proposed constitutional amendment would amend the Texas Constitution by adding a new section establishing the right of individuals to own, hold, and use a mutually agreed-upon medium of exchange, such as cash, coin, bullion, digital currency, or privately issued scrip, for trading and contracting goods and services. The amendment would prohibit any government from restricting or encumbering the ownership or holding of any form or amount of money or currency. However, the amendment would not restrict the state from choosing which medium of exchange it will accept for payments to the state.The proposed amendment would have no revenue implications and would not impose substantive restrictions or requirements on the state.The proposed amendment would be submitted to voters at an election to be held November 4, 2025.
The proposed amendment would have no revenue implications and would not impose substantive restrictions or requirements on the state.The proposed amendment would be submitted to voters at an election to be held November 4, 2025.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, FV, SD, KK
JMc, FV, SD, KK