This bill amends Oklahoma law regarding the use of gold and silver coins as legal tender. It introduces definitions for "legal tender" and "specie," clarifying that legal tender is a recognized medium for the payment of debts and taxes, while specie includes both U.S. issued coins and refined gold or silver bullion. The bill stipulates that specie or legal tender will not be classified as personal property for taxation or regulatory purposes, and it establishes that exchanges of legal tender will not incur tax liabilities. Additionally, it specifies that no one can be compelled to accept specie unless required by law or contract.

The bill also empowers the Office of the Attorney General to enforce these provisions and outlines that if a contract designates a specific type of specie as tender, Oklahoma courts must enforce this designation in case of a breach. Furthermore, it allows for specie to be recognized as a means to pay debts. The effective date for this act is set for November 1, 2025.