91st General Assembly · Funnel one-pager · Monday, November 9, 2026
HF 2723: Relating to the use of specie as legal tender
Died when the session ended · The General Assembly adjourned on October 2, 2026. Bills that didn’t pass both chambers died.
What it does
This bill provides that specie, defined in the bill, is legal tender in this state and that a person is not required to accept specie as payment. The bill requires the treasurer of state (treasurer) to establish or contract with one or more bullion depositories for the secure storage of bullion, authorize one or more electronic payment systems to facilitate transactions, and adopt rules to implement the bill. Each bullion depository approved by the treasurer must have a contractual relationship with each electronic payment system that is authorized by the treasurer and must insure each deposit under an insurance policy for the full replacement of the deposit.
Sponsors
Rep. Jennifer J. Smith (R)
Cost
No fiscal note
Lobbying · 1 for, 1 against
For: State Shield Action
Against: Sound Money Defense League
In plain words
- February 24, 2026Filed in the House and sent to the Ways and Means committee
From public records at legis.iowa.gov, compiled by Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/91/HF2723