This bill, titled the New Hampshire Legal Tender Act, establishes gold and silver in coin or bar form as legal tender for all public and private transactions within the state. The bill stipulates that for gold or silver to be used as legal tender, both the buyer and seller must agree on the fair market value of the metals. Additionally, it allows individuals to possess any amount of gold or silver in these forms. The bill includes a severability clause, ensuring that if any provision is found invalid, the remaining provisions will still be effective. The act is set to take effect on July 1, 2025.

The fiscal impact of this bill is indeterminable at both state and local levels, as it does not provide funding or authorize new positions. The Department of Revenue Administration anticipates increased expenses related to the handling of gold and silver, including security measures for transportation and storage. There is also a possibility that transactions involving gold and silver could be exempt from taxation under the Business Profits Tax, which may lead to a reduction in revenue, although the extent of this impact is unpredictable. Overall, the bill introduces significant changes to the current monetary system, requiring adjustments in infrastructure and security measures for municipalities and state agencies.