Posted by Michael Lotfi
February 24, 2014
PHOENIX, February 24, 2014– Today, the Arizona State Senate passed a bill that would legalize gold and silver as legal tender, moving the legislation on to the House for consideration.
If passed into law, Arizona could become the second state to recognize gold and silver as legal tender authorized for payments of debts and taxes.
SB1096 passed by a vote of 18-12
A similar bill was introduced last year. The bill passed both the House and Senate and made it to the Governor’s desk – where Jan Brewer ultimately vetoed it. It’s important to note that SB1096 is not a mandate, but simply would allow the people in Arizona to exchange goods and services, for gold or silver, without additional fines and taxes. [READ BILL TEXT HERE]
The Arizona House will now take up the bill, where it will need to be passed to make it back to the governor’s desk. Supporters say that a full year of pressure and outreach makes passage and a signature, while still difficult, more likely.