Indiana Passes HB1614

The Indiana House Committee has passed House Bill 1614, which would recognize gold and silver as legal tender and exempt them from state sales tax. The bill defines legal tender as gold and silver bullion or "electronic currency" backed by precious metals. If enacted, Indiana would join several other states in reintroducing gold and silver as viable currency options, promoting competition with the Federal Reserve. The law also includes provisions for gold-backed contracts and tax exemptions for transactions involving precious metals. This legislation could encourage residents to use gold and silver for daily transactions, strengthening local economies and supporting sound money principles.