Gold and silver; authorizing employees to request payment in gold and silver; directing creation of Oklahoma Bullion Depository; exempting sale of gold and silver from income tax. Effective date.

SB 581 allows Oklahoma state employees, private businesses, and residents to negotiate and receive payments in gold or silver bullion instead of cash, with compensation valued at current global market rates. It requires payments in gold/silver to be deposited into the newly created Oklahoma Bullion Depository or partner banks, and mandates the State Treasurer to establish this depository with fee structures (capping fees at 2% for residents). The bill also exempts gains from selling gold or silver from state income tax, aligning with tax law amendments. This directly affects state workers choosing payment methods, businesses offering gold/silver transactions, and individuals selling precious metals.