Legal Tender - Specie - Establishment

HB 1312 defines "specie" as gold or silver coins (U.S. or foreign) or certified 99% pure gold/silver bars, and establishes it as legal tender for voluntary use. It allows private parties to pay debts using specie if both agree, and permits state/local governments to accept specie for taxes/fees if they choose, but prohibits anyone from being forced to accept it. The bill requires the state financial commissioner to issue regulations and submit annual economic impact reports starting in 2027. This directly affects private individuals entering mutual agreements, state/local governments deciding whether to accept precious metals, and financial institutions managing such transactions.