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 currency, 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 analysis will address constitutional implications, impacts on interstate commerce, regulatory frameworks for consumer protection, and the obligations of financial institutions regarding these forms of currency.

Furthermore, the bill requires the report to evaluate the benefits and risks of accepting gold and silver for tax payments, the necessary infrastructure and costs for implementation, and the potential economic consequences for residents and the state's economy. 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 underscores the need to consider existing regulatory systems and public policy issues, including the implications for the stability of the U.S. dollar and the functions of the Federal Reserve.

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