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, defining this term and affirming its legal status within the state. The bill prohibits the mandatory acceptance of such tender unless a contract specifies otherwise and clarifies that only gold or silver not issued by the U.S. can be recognized as legal tender through court rulings or congressional action. Additionally, it explicitly states that central bank digital currency does not qualify as specie legal tender. The bill also includes tax exemptions for transactions involving specie legal tender, ensuring they are not subject to individual income tax or sales tax, and prevents state entities from seizing such tender without a court order.

Moreover, the bill amends existing tax laws to include provisions for net capital losses and gains from the sale or exchange of specie legal tender in tax calculations. It modifies the treatment of state income tax deductions for individual taxpayers and pass-through entities, ensuring these deductions do not exceed the federal standard deduction. The bill also addresses property subject to criminal forfeiture related to drug offenses, establishing criteria for innocent ownership to protect property owners unaware of any criminal activity. The changes will take effect for tax years beginning after December 31, 2025, and include new sections on codification, severability, and applicability.

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(10): 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(8): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2(9): 15-30-2101, 15-30-2120, 45-9-206
HB0382_2: 15-30-2101, 15-30-2120, 45-9-206