HB 1614: Bullion depositories.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

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.

Sponsors

Sponsors by party (alphabetical): Republican 4

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. February 4, 2025Recommitted to Committee on Ways and Means pursuant to House Rule 126.3
2. February 4, 2025Committee report: amend do pass, adopted
3. January 21, 2025First reading: referred to Committee on Financial Institutions
4. January 21, 2025Authored by Representative Lindauer
5. January 21, 2025Coauthored by Representatives Teshka, Lucas, Ledbetter