Arizona Gold & Silver Bill Signed into Law

Unknown to many members is the role of the UPMA board of directors. These men and women are elected by the general membership of UPMA at the annual summit every fall. Many of the board members serve as legislators or as citizen activists. They actively push for sound money legislation. One such board member, Rep. Mark Finchem of Arizona, was able to get his bill signed into law this year after several years or trying. UPMA is proud to support his efforts as well as those of any other board member.

Below is an excerpt from

Good news for precious metals investors in Arizona.

On Monday, Gov. Doug Ducey signed a bill into law that eliminates states capital gains taxes on gold and silver specie. It's tax repeal will not only benefit Arizonans who invest in gold and silver, it will also facilitate their use as currency and undermine the Federal Reserve’s monopoly on money.

Rep. Mark Finchem (R-Tucson) sponsored HB2014. The legislation eliminates state capital gains taxes on income “derived from the exchange of one kind of legal tender for another kind of legal tender.” The bill defines legal tender as “a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.” “Specie” means coins having precious metal content.

In effect, passage into law will “legalize the Constitution” by treating gold and silver specie as money.

The new law will go into effect Aug. 9, 2017.

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