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Bill

SB 39

Establishing the Kansas legal tender act and providing for an income tax subtraction modification for sales of specie.

2025-2026 Regular Session

Kansas bill would legalize precious metals as currency and exempt specie sales from state income tax, reducing revenue while enabling alternative monetary transactions.

Died on House Calendar
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WeVote Research Nonpartisan
Bill Summary · SB 39

Legislative bill overview

SB 39 would establish Kansas as a "legal tender" state for precious metals (specie) like gold and silver, allowing them to be used as alternative currency. The bill also provides an income tax subtraction modification, likely exempting gains from specie sales from Kansas state income tax calculations.

Why is this important

This addresses a growing movement among some states to create parallel currency systems outside the federal dollar. The tax provision could significantly reduce state revenue from precious metals transactions while potentially incentivizing investment in specie over traditional assets. It raises questions about monetary policy, tax fairness, and the practical feasibility of dual-currency systems.

Potential points of contention

  • Tax revenue loss: Exempting specie sales from income tax reduces state tax base and may shift tax burden to other taxpayers or reduce public funding
  • Monetary system complexity: Creating legal tender status for metals alongside federal currency creates accounting, pricing, and transaction complications for businesses and government
  • Philosophical divide: Reflects broader debate between those skeptical of federal currency management versus those supporting unified national monetary systems

Compiled from official sources — confirm details with the bill’s official record.

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