I
113th CONGRESS
1st Session
H. R. 77
IN THE HOUSE OF REPRESENTATIVES
January 3, 2013
introduced the following bill; which was referred to the Committee on Financial Services, and in
addition to the Committees on Ways and
Means and the Judiciary,
for a period to be subsequently determined by the Speaker, in each case for
consideration of such provisions as fall within the jurisdiction of the
committee concerned
A BILL
To repeal the legal tender laws, to prohibit
taxation on certain coins and bullion, and to repeal superfluous
sections related to coinage.
1.
Short title
This Act may be cited as the Free Competition in Currency Act of 2013
.
2.
Repeal of legal
tender laws
(a)
In General
Section
5103 of title 31, United States Code (relating to legal tender), is
hereby repealed.
(b)
Clerical
Amendment
The table of sections for subchapter
I of chapter 51 of title 31, United States Code, is amended by striking
the item relating to section 5103 and
inserting the following new item:
5103. [Repealed].
.
3.
No tax on
certain coins and bullion
(a)
In general
Notwithstanding any other provision of law—
(1)
no tax may be imposed on (or with respect to the sale,
exchange, or other disposition of) any coin, medal, token, or gold, silver,
platinum, palladium, or rhodium bullion, whether issued by a State, the
United States, a foreign government, or any other person; and
(2)
no State may assess any tax or fee on any currency, or any
other monetary instrument, which is used in the transaction of interstate
commerce or commerce with a foreign country, and which is subject to the
enjoyment of legal tender status under article I, section 10 of the United
States Constitution.
(b)
Effective date
This section shall take effect on December 31, 2013, but
shall not apply to taxes or fees imposed before such date.
4.
Repeal of
superfluous sections
(a)
In general
Title 18,
United States Code, is amended by striking sections 486
(relating to uttering coins of gold, silver, or other metal) and 489 (making or
possessing likeness of coins).
(b)
Conforming
amendment to table of sections
The table of sections at the beginning of chapter 25 of
title 18, United States Code, is amended by striking the items relating
to the sections stricken by subsection (a).
Special rule
concerning retroactive effect
Any prosecution under the sections stricken by subsection (a) shall abate upon the taking effect
of this section. Any previous conviction under those sections shall be null
and void.
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2 comments:
just a BILL
Will only become a law if our beloved elected officials have time to go out and buy a bunch of precious metals.
But if the dollar becomes precious metal backed as has been rumored by the new currency reset rumours, no more taxation on income shutting down the IRS.
We need to research this more.
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