Legal Tender Bills in Louisiana

By Shane Vander Hart on May 22, 2013 | Economics

SB 248 is being discussed in the Louisiana Senate Committee on Revenue and Fiscal Affairs.  It simply provides for a sales and use tax exemption on purchases of gold and silver bullion coins.  This bill is sponsored by State Senator A.G. Crowe (R-Slidell).  This is the bill we have been involved in.  There may be a vote on this before the end of the day, we’ll keep you updated.

There is a similar House bill – HB 682 sponsored by State Representative Paul Hollis (R-Covington) that is being considered by the Louisiana House Ways and Means Committee.  This bill broadens the sales and use tax exclusion for gold, silver, or numismatic coins (collectables), or platinum, gold or silver bullion.

If both bills pass the differences will need to be worked out in conference committee.

Update: the House bill just passed out of committee unanimously.