URGENT; ACT NOW: On February 19, sound-money bills HB 2729 and SB 513 received hearings in their respective committees. This is a major step toward advancing these strong bills, which would Kansas significantly closer to restoring constitutional money within its state borders. Please contact your state legislators, and urge them to continue the momentum by fully enacting these important bills!
Members of the Kansas Legislature are seeking to enact legislation helping restore sound money and enforce the U.S. Constitution’s monetary provisions.
House Bill No. 2729 (HB 2729) and Senate Bill No. 513 (SB 513) are titled the Kansas Specie Legal Tender Act and the Kansas Bullion Depository Act. HB 2729 is sponsored by Representative Michael Murphy (R-Sylvia) and 26 other representatives, while SB 513 was introduced by the Senate Federal and State Affairs Committee. These bills would take the following actions:
- Officially recognize gold and silver coins — including non-U.S.-minted gold and silver coins — as legal tender;
- Eliminate all property and capital-gains taxes on gold and silver;
- Establish a state billion depository, which would encourage the use of gold and silver in everyday financial transactions; and
- Create a state-issued gold or silver transactional currency.
House Bill No. 2405 (HB 2405) and Senate Bill No. 303 (SB 303), both titled the Kansas Legal Tender Act, are respectively introduced by the House Committee on Federal and State Affairs and the Senate Committee on Federal and State Affairs. On January 22, 2024, the Senate Committee on Federal and State Affairs recommended SB 303’s passage.
If enacted, these bills would officially recognize gold and silver coins as legal tender and eliminate capital-gains taxes on gold and silver — thus bringing Kansas closer to constitutional compliance and treating gold and silver as money. Furthermore, HB 2405 includes a provision that would allow non-U.S.-minted gold and silver coins to be recognized as legal tender, further weakening Fed control.
These bills are great first steps toward enforcing the Constitution’s monetary provisions. Article I, Section 10, of the U.S. Constitution plainly states that “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” It’s long overdue that states begin to enforce this provision once again.
Additionally, these bills are important steps toward nullifying the unconstitutional Federal Reserve, which has a monopoly on money, and also reducing Kansas’ financial dependence on the federal government. It will also help Kansas avoid the federal government’s planned “Central Bank Digital Currencies,” which severely threaten privacy and individual freedom.
Article VI of the U.S. Constitution obligates state officials to uphold the Constitution and nullify all laws not “made in Pursuance” of it. Officials at all levels of government must push back against the federal government’s many unconstitutional laws and agencies, and robustly enforce the Constitution and only those laws “made in Pursuance thereof.” HB 2729, SB 513, HB 2405, and SB 303 are an excellent model for other states to follow.
Urge your state representative and senator to support HB 2729, SB 513, HB 2405, and SB 303, and to fully restore sound money in Kansas.
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