The concept of this bill is to make gold and silver legal currency for untaxed legal trade.
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1 Be it enacted by the Legislature of the State of Arizona:
2 Section 1. Title 1, Arizona Revised Statutes, is amended by adding
3 chapter 7, to read:
4 CHAPTER 7
5 LEGAL TENDER
6 ARTICLE 1. GENERAL PROVISIONS
7 1-701. Definition of specie legal tender
8 IN THE STATUTES AND LAWS OF THIS STATE, UNLESS THE CONTEXT OTHERWISE
10 1. "LEGAL TENDER" MEANS AN AUTHORIZED MEDIUM OF EXCHANGE FOR THE
11 PAYMENT OF DEBTS AND TAXES.
12 2. "SPECIE" MEANS COIN OR BULLION HAVING GOLD OR SILVER CONTENT.
13 1-702. Legal tender recognition; use of specie
14 A. LEGAL TENDER IN THIS STATE CONSISTS OF ALL OF THE FOLLOWING:
15 1. LEGAL TENDER AUTHORIZED BY CONGRESS.
16 2. SPECIE COIN ISSUED AT ANY TIME BY THE UNITED STATES GOVERNMENT.
17 3. ANY OTHER SPECIE THAT A COURT OF COMPETENT JURISDICTION RULES BY A
18 FINAL, UNAPPEALABLE ORDER TO BE WITHIN THE SCOPE OF STATE AUTHORITY TO MAKE A
19 LEGAL TENDER.
20 B. EXCEPT AS EXPRESSLY PROVIDED BY CONTRACT, A PERSON MAY NOT COMPEL
21 ANY OTHER PERSON TO TENDER OR ACCEPT SPECIE LEGAL TENDER.
22 1-703. Legal tender exchanges; payment of taxes
23 A. NOTWITHSTANDING ANY OTHER LAW, THE EXCHANGE OF ONE FORM OF LEGAL
24 TENDER FOR ANOTHER DOES NOT GIVE RISE TO LIABILITY FOR ANY TYPE OF TAX.
25 B. ANY TAX THAT IS DUE AS A CONSEQUENCE OF A TRANSACTION THAT INVOLVES
26 SPECIE LEGAL TENDER SHALL BE PAID PROPORTIONATELY IN THE SAME LEGAL TENDER.
27 C. LEGAL TENDER IS MONEY AND IS NOT SUBJECT TO TAXATION OR REGULATION AS PROPERTY OTHER THAN MONEY.
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