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 gold or silver coins or bullion not issued by the U.S. can only be recognized as legal tender if authorized by a court or Congress. 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 specie legal tender, exempting them from individual income tax and sales tax. It amends existing tax laws to include net capital losses and gains from the sale or exchange of specie legal tender in tax calculations, while ensuring that state income tax deductions for individuals and pass-through entities do not exceed the federal standard deduction. The bill expands the definition of forfeitable property in drug offenses to include specie legal tender and outlines the conditions for property seizure and the rights of innocent owners. The new regulations are 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(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