The bill amends Louisiana's existing law regarding gold and silver as legal tender. Specifically, it changes the language to state that any gold or silver coin, specie, or bullion must be recognized by the U.S. government, rather than issued by it, to be considered legal tender in the state. This modification replaces the term "issued" with "recognized" and removes the requirement for state issuance.

Additionally, the bill introduces a new provision that allows for the recognition of gold-backed debit instruments that can convert gold stored in a depository into fiat currency as legal tender in Louisiana. This addition broadens the scope of what constitutes legal tender in the state, thereby incorporating modern financial instruments alongside traditional forms of gold and silver currency.

Statutes affected:
HB695 Original: 6:341(A)
HB695 Engrossed: 6:341(A)