HB1306: HB1306 Transactional Gold and Silver Act; enact

Currently Georgia does not treat gold and silver coins or bullion as legal tender for paying debts, taxes, or fees. This bill, called the Transactional Gold and Silver Act, would change that by amending the law governing the Office of State Treasurer (O.C.G.A. Title 50, Chapter 5A). It creates a six-member Bullion Depository Commission appointed by the Governor, the Senate President, and the House Speaker, with the state treasurer serving as a nonvoting member. The commission would set up or contract for a secure bullion depository to store gold and silver, and an electronic payment system letting account holders spend their stored metal with participating vendors. Deposits would be insured for full replacement value and protected from state seizure without due process. The commission must finish setting up the system by January 1, 2028, and file annual reports to the legislature starting July 1, 2028. Gold and silver coin must meet purity standards, and no one would be forced to accept it as payment. Transactions using gold and silver specie would be exempt from state tax liability. The bill takes effect immediately if signed by the Governor.

• Declares gold and silver specie (bullion with intrinsic value used as money) legal tender in Georgia for debts, taxes, and fees, but only when both parties agree to use it.
• Creates a six-member Bullion Depository Commission, appointed by the Governor, Senate President, and House Speaker, to oversee the new system.
• Establishes a state bullion depository to securely store gold and silver, insured for 100 percent of full replacement value, with deposits protected from seizure without due process.
• Authorizes an electronic payment system letting depository account holders pay participating vendors using their stored gold and silver.
• Exempts the purchase, sale, or exchange of gold and silver specie from Georgia tax liability.
• Bans use of the depository or payment system for surveillance, social credit scoring, or central bank digital currency, and requires the commission to implement the article by January 1, 2028.

Georgians who want to buy, sell, or store gold and silver as an alternative currency; the state treasurer's office and the new Bullion Depository Commission; vendors who choose to accept gold and silver payments; and any depository agents or companies contracted to run the depository or payment system.

If enacted, Georgians could use gold and silver coins or bullion, stored in a state-backed depository, to pay debts or make purchases through an electronic system, without paying state tax on those exchanges, though no business or government entity would be required to accept it.

• Section 3 adds new Code Section 50-5A-24 requiring gold coin to be at least 99.5 percent pure and silver coin at least 99.9 percent pure.
• Section 3 (50-5A-25) recognizes gold and silver specie as legal tender but only where private parties consent or a government entity agrees to accept it; no one is required to accept it.
• Section 3 (50-5A-22) creates the Bullion Depository Commission with five voting members serving staggered six-year terms and the state treasurer as a nonvoting member.
• Section 3 (50-5A-26) directs the commission to set rules ensuring the depository is secure, transparent, and accessible, and that the electronic payment system complies with money transmitter laws.
• Section 3 (50-5A-28 and 50-5A-29) requires full insurance of deposits and protects deposits from state appropriation without due process.
• Section 3 (50-5A-30) requires an annual report to the General Assembly starting July 1, 2028, on the depository, payment system, and economic impact.
• Section 3 (50-5A-31) sets a January 1, 2028 deadline for the commission to implement the article.
• Section 3 (50-5A-33) exempts exchanges, purchases, and sales of gold and silver specie from state tax liability.

1. 2026-02-18House Second Readers (House)
2. 2026-02-17House First Readers (House)
3. 2026-02-12House Hopper (House)

• Todd Jones (R, HD-025)Primary sponsor
• Brent Cox (R, HD-028)
• Johnny Chastain (R, HD-007)
• Josh Bonner (R, HD-073)
• Charles Cannon (R, HD-172)

• gold and silver legal tender
• state treasurer
• bullion depository
• tax exemption
• precious metals