This bill directs the Department of Financial Services to hire a vendor to conduct a comprehensive study on the potential recognition of gold and silver coins as legal tender in Florida. The vendor is tasked with submitting a detailed report to the Legislature by December 1, 2025, which will cover the legal authority of states to recognize such coins, practical considerations for implementation, and a review of the legal status of gold and silver in other states. The vendor must avoid conflicts of interest and include consultations with an economist and a constitutional law scholar. The report will address constitutional implications, practical issues like purity standards and electronic transactions, regulatory changes needed, and the impact on financial institutions and consumer protections.

Furthermore, if the report supports the recognition of gold and silver coins as legal tender, the Department of Financial Services must provide proposed statutory and administrative rule language to legislative leaders by January 1, 2026. The bill highlights the need to consider existing regulatory frameworks and recommendations from relevant agencies, while also addressing public policy issues such as the potential effects on the stability of the U.S. dollar and the functions of the Federal Reserve. Overall, the bill aims to create a thorough framework for the Legislature to evaluate the implications of adopting gold and silver coins as legal tender in Florida.

Statutes affected:
S 132 c1: 212.02, 212.05, 560.204, 560.205, 655.50, 672.511, 559.952