April 18, 2023 | Image source
HB 1718, The Arkansas Legal Tender Act, passed overwhelmingly in the House, by a vote of 82-8, and unanimously in the Senate. The bill was signed into law by Governor Sarah Huckabee Sanders on April 11th. The law reaffirms silver and gold as legal tender, and ends all taxes on sale, purchase, or exchange of specie, including Arkansas state capital gains taxes.
According to HB 1718, “Specie” is defined as, “Coin having gold or silver content; or refined gold or silver bullion that is coined, stamped, or imprinted with its weight and purity; and valued primarily based on its metal content not its form.”
Other states joining Arkansas in moving toward constitutionally sound money include Kansas, Montana, Idaho, Tennessee, Wyoming, Missouri, Minnesota, Iowa, West Virginia, Alaska, South Carolina and others.
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