House Bill No. [insert bill number] seeks to establish gold and silver coins or bullion issued by the United States as specie legal tender in Montana. The bill defines "specie legal tender" and asserts that it is recognized as legal tender within the state, while also prohibiting individuals from being compelled to accept it unless specified by contract. It further stipulates that only gold or silver coins or bullion authorized by a court or congressional action can be recognized as legal tender if not issued by the United States. Additionally, the bill clarifies that central bank digital currency does not qualify as specie legal tender.

The legislation also introduces tax exemptions for transactions involving the exchange of legal tender, exempting them from individual income tax and sales tax. It amends the Montana tax code to allow deductions for net capital losses and gains from the sale or exchange of specie legal tender, aligning state tax regulations with federal standards. Furthermore, the bill addresses the criminal forfeiture of property related to drug offenses, specifying conditions under which specie legal tender may be forfeited while protecting the rights of innocent property owners. The act includes a severability clause and is set to take effect for tax years beginning after December 31, 2025.

Statutes affected:
LC Text: 15-30-2101, 15-30-2120
HB0382_1(1): 15-30-2101, 15-30-2120, 45-9-206
HB0382_1(2): 15-30-2101, 15-30-2120, 45-9-206
HB0382_1(3): 15-30-2101, 15-30-2120, 45-9-206
HB0382_1(4): 15-30-2101, 15-30-2120, 45-9-206
HB0382_1(5): 15-30-2101, 15-30-2120, 45-9-206
HB0382_1: 15-30-2101, 15-30-2120, 45-9-206
HB0382_2(1): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2(2): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2(3): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2(4): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2(5): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2(6): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2(7): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2: 15-30-2101, 15-30-2120, 45-9-206