House Bill No. [insert number] proposes the establishment of gold and silver as legal currency in Louisiana by enacting Chapter 13-A of Title 6 of the Louisiana Revised Statutes. The bill defines key terms such as "bullion," "currency," and "depository account," and outlines the roles and responsibilities of the state treasurer in issuing and managing this new currency. It allows the treasurer to adopt necessary rules for implementation, including ensuring the security and privacy of depositors' information, and prohibits the use of the currency, bullion, or specie for funding loans or investments. The bill also stipulates that all currency established under this law is the property of the depositor, who can withdraw their funds without delay.

Additionally, the bill details the processes for purchasing and redeeming the new currency, including the ability to exchange it for U.S. dollars or for bullion/specie. It establishes that the value of the currency will be determined based on the market price of gold and silver at the time of transactions. The treasurer is authorized to set fees for the issuance and redemption of the currency to cover administrative costs, ensuring that the state does not incur additional expenses from the general fund. Overall, this legislation aims to create a framework for the use of precious metals as a viable currency option in Louisiana.