Bill Summary for Bill Number HB09-1239

Date: 02/11/2009

Final
BILL SUMMARY for HB09-1239

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Move to postpone House Bill 09-1239 indefinitely. Moved to amend Page 2, line 11, after require, ins Refer House Bill 09-1239, as amended, to the Commi	PASS Pass Without Objection FAIL

09:34 AM -- House Bill 09-1239 - Concerning the Payment of Debts in Precious Metal Coins

Representative McKinley, prime sponsor, explained the provisions of the bill. He noted that HB09-1239 declares that any gold or silver coin authorized by law is legal tender for payment of debts between the citizens of Colorado. The bill also allows parties to a transaction involving the sale of raw materials to require payment in gold coin issued by the United States government.

The committee discussed the history of the gold standard in the United States. Representative McKinley responded by discussing the history of gold and silver standards that pertain to the payment of debt that was initially in the State Constitution. The committee discussed issues tied to day-to-day transactions using gold or silver as legal tender.

10:03 AM


BILL:	HB09-1239
TIME:	10:03:16 AM
MOVED:	Frangas
MOTION:	Moved to amend Page 2, line 11, after require, insert by mutual agreement. The motion passed without objection by those members present.
SECONDED:	Lambert
		VOTE
	Apuan
	Benefield
	Gerou
	Kefalas
	Kerr A.
	Lambert
	Roberts
	Summers
	Swalm
	Frangas
	Judd

Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:	HB09-1239
TIME:	10:04:21 AM
MOVED:	Lambert
MOTION:	Refer House Bill 09-1239, as amended, to the Committee of the Whole. The motion failed on a 5-6 vote.
SECONDED:	Gerou
		VOTE
	Apuan	Yes
	Benefield	No
	Gerou	Yes
	Kefalas	No
	Kerr A.	No
	Lambert	Yes
	Roberts	No
	Summers	No
	Swalm	Yes
	Frangas	Yes
	Judd	No

Not Final YES: 5 NO: 6 EXC: 0 ABS: 0 FINAL ACTION: FAIL


BILL:	HB09-1239
TIME:	10:11:11 AM
MOVED:	Judd
MOTION:	Move to postpone House Bill 09-1239 indefinitely. The motion passed on a 6-5 vote.
SECONDED:	Benefield
		VOTE
	Apuan	No
	Benefield	Yes
	Gerou	No
	Kefalas	Yes
	Kerr A.	Yes
	Lambert	No
	Roberts	Yes
	Summers	Yes
	Swalm	No
	Frangas	No
	Judd	Yes

Final YES: 6 NO: 5 EXC: 0 ABS: 0 FINAL ACTION: PASS