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 report to the Legislature by December 1, 2025, which will analyze the legal authority of states to make such a recognition, practical implementation considerations, 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 in the report.

The report will address constitutional implications, practical issues like purity standards and electronic transaction systems, and the regulatory framework needed to protect residents. If the report supports the recognition of gold and silver coins as legal tender, the Department must provide proposed statutory and administrative rule language to legislative leaders by January 1, 2026. The bill emphasizes the need to consider existing regulatory systems and public policy issues, including the potential impact on the stability of the U.S. dollar and the Federal Reserve's functions.

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