Bill making gold legal tender sent to Brewer - New York News

Bill making gold legal tender sent to Brewer

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By CRISTINA SILVA
Associated Press

PHOENIX (AP) - A bill allowing people to use gold and silver as legal tender is heading to Gov. Jan Brewer's desk.

The GOP-led Senate gave final approval to the bill that could make Arizona the second state in the nation to recognize gold and silver as legal tender. If signed into law by Brewer, the measure would take effect in 2014.

The state Department of Revenue opposed the measure and it passed in the House only after an amendment was added to exempt the department from having to accept gold or silver as tax payments.

The Senate had previously passed Senate Bill 1439, but it was sent back for final approval after the House amendment passed.

The measure reflects a growing distrust of government-backed money amid the declining value of the dollar.

More info on SB1439: legal tender

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Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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