SB 424: "Transactional Gold and Silver Act"; enact

Currently Georgia does not treat gold and silver coins or bullion as legal tender. This bill, called the Transactional Gold and Silver Act, would change that by adding a new article to the Official Code of Georgia Annotated. It declares gold and silver specie (metal with intrinsic value meeting purity standards) to be legal tender that private parties can use to pay debts if both sides agree, and that state or local governments can accept for taxes and fees if they choose to. The bill creates a six member Bullion Depository Commission, appointed by the Governor, the Senate President, and the House Speaker, to set up one or more secure storage depositories and an electronic payment system so people can spend gold and silver bullion like a digital account. Deposits must be fully insured, kept private, and never used for a social credit scoring system. The commission must roll this out by January 1, 2028, and report to the General Assembly starting July 1, 2028. Transactions in gold and silver specie would not be subject to state tax, and the law would take effect as soon as the Governor signs it.

• Declares gold and silver specie (metal meeting set purity standards) legal tender in Georgia for consenting private debts and for government payments if the government agrees to accept it.
• Creates a six-member Bullion Depository Commission appointed by the Governor, the Senate President, and the House Speaker to oversee the new system.
• Directs the commission to establish one or more bullion depositories and an electronic payment system letting account holders spend stored gold and silver with vendors.
• Requires depositories to fully insure all deposits and bars sharing account or transaction data without court authorization or using it for a social credit scoring system.
• Exempts the exchange, purchase, or sale of gold and silver specie from Georgia tax liability.
• Sets a January 1, 2028 deadline for the commission to implement the program and requires annual reports to the General Assembly starting July 1, 2028.

Georgians who want to use gold or silver as payment, private parties making voluntary transactions, state and local governments deciding whether to accept metal for taxes and fees, vendors participating in the new electronic payment system, and the newly created Bullion Depository Commission and any depository agents it hires.

If enacted, Georgians could choose to pay debts in gold or silver coin instead of dollars when both parties agree, and could store and spend metal electronically through a new state-backed system, all without paying state tax on those transactions, though no one would be forced to accept metal as payment.

• Section 3 adds Article 2 to Chapter 5A of Title 50, including legislative findings citing Article I, Section 10 of the U.S. Constitution as allowing states to make gold and silver legal tender.
• Code Section 50-5A-24 requires gold coin to be at least 99.5 percent pure and silver coin at least 99.9 percent pure.
• Code Section 50-5A-25 makes gold and silver specie legal tender but only for debts between consenting private parties and for government obligations where the government agrees to accept it; no one is required to accept it.
• Code Section 50-5A-26 directs the commission to set rules for depositories and electronic payment systems, covering security, fraud prevention, privacy, and compliance with money transmitter laws.
• Code Section 50-5A-28 requires the bullion depository to insure all deposits for 100 percent of full replacement value under an all-risk nongovernmental policy.
• Code Section 50-5A-32 bars using the system to create a central bank digital currency or any surveillance or social credit scoring mechanism.
• Code Section 50-5A-33 exempts gold and silver specie transactions from state tax liability.
• Code Section 50-5A-31 requires the commission to implement the article by January 1, 2028, with annual reports to the General Assembly starting July 1, 2028.

1. 2026-03-10House Second Readers (House)
2. 2026-03-09House First Readers (House)
3. 2026-03-06Senate Passed/Adopted (Senate)
4. 2026-03-06Senate Third Read (Senate)
5. 2026-03-06Senate Taken from Table (Senate)
6. 2026-03-06Senate Tabled (Senate)
7. 2026-02-26Senate Read Second Time (Senate)
8. 2026-02-25Senate Committee Favorably Reported (Senate)

• Marty Harbin (R, SD-016)Primary sponsor
• Jason Anavitarte (R, SD-031)
• Carden Summers (R, SD-013)
• Matt Brass (R, SD-006)
• Max Burns (R, SD-023)
• Ricky Williams (R, SD-025)
• Russ Goodman (R, SD-008)
• Blake Tillery (R, SD-019)
• Brian Strickland (R, SD-042)
• Shawn Still (R, SD-048)
• Randy Robertson (R, SD-029)
• Billy Hickman (R, SD-004)
• Kay Kirkpatrick (R, SD-032)
• Sonya Halpern (D, SD-039)
• Ed Setzler (R, SD-037)
• Clint Dixon (R, SD-045)
• Derek Mallow (D, SD-002)

1. PassedSenate voteMarch 6, 2026

   29 yea, 21 nay (2 not voting, 3 absent)

   Passage: Senate Vote #683

• gold and silver legal tender
• state treasury
• bullion depository
• tax exemptions
• precious metals