Establishing the Kansas legal tender act and providing for an income tax subtraction modification for sales of specie.

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Plain-English Summary

This bill establishes the Kansas Legal Tender Act, which recognizes gold and silver coins as legal tender in Kansas. It also creates a tax subtraction modification for income earned from selling gold or silver. The act clarifies that specie cannot be considered personal property for taxation and that exchanges of legal tender are not taxable events.

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· PrimeFinancial Institutions and Pensions

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