Second Regular Session
              Sixty-eighth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 12-0727.01 Bart Miller x2173    SENATE BILL 12-137
                   SENATE SPONSORSHIP
 Lambert,  Neville, Renfroe
 
                    HOUSE SPONSORSHIP
 Beezley,  Holbert, Looper, McKinley
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Senate Committees
 House Committees
 
 
 Finance
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning the payment of debts in precious metal coins.
       
       
                           Bill Summary
       
            (Note: This summary applies to this bill as introduced and does
       not reflect any amendments that may be subsequently adopted. If this bill
       passes third reading in the house of introduction, a bill summary that
       applies to the reengrossed version of this bill will be available at
       http://www.leg.state.co.us/billsummaries.)
       
            The bill finds and declares that under the Colorado constitution
       people have the inherent and inalienable right to acquire, possess, and
       protect property, including the right to acquire, possess, and circulate gold
       and silver coin. The bill also finds and declares that the circulation of
       constitutionally based money is important to Colorado intrastate
       commerce and that under the Colorado and United States constitutions the
       general assembly and other duly elected Colorado state officers retain
       primary jurisdiction over the regulation of Colorado intrastate commerce.
            The bill reaffirms that gold and silver coin issued by the United
       States government or authorized by law is a currency that is legal tender
       in Colorado. The bill also specifies that a person cannot compel another
       person to tender or accept gold and silver coin issued by the United States
       government or authorized by law.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, amend 11-61-101 as
       follows:
            11-61-101.  Gold and silver coin a legal tender - legislative
       declaration. (1)  The general assembly finds and declares that:
            (a)  Section 3 of article II of the state constitution
       expressly recognizes that all people have the inherent and
       inalienable right to acquire, possess, and protect property;
            (b)  In exercise of these rights, Colorado citizens acquire,
       possess, and circulate gold and silver coin, for the protection
       and security of which they are entitled to reasonably rely upon
       state and local government as well as upon themselves;
            (c)  Article I, section 10 of the United States constitution
       provides that no state may make anything but gold and silver
       coin a tender in payment of debts;
            (d)  Because sound, constitutionally based money, which
       over time tends to retain its purchasing power, is important to
       the livelihood of the people of this state, to the continued
       solvency of the state government, as well as to the stability
       and growth of Colorado's economy, the circulation and use of
       gold and silver coin within the course and scope of Colorado
       intrastate commerce vitally affects the public interest; and
            (e)  Pursuant to the limited, enumerated powers granted
       by the people to the United States congress under article I,
       section 8 of the United States constitution as well as pursuant
       to the tenth amendment to the United States constitution, the
       citizens of the state of Colorado, acting through the general
       assembly and other duly elected officers of state government,
       retain primary jurisdiction over the regulation of Colorado
       intrastate commerce.
            (2)  The gold and silver coin issued by the government of the
       United States shall be or authorized by law is a currency that is
       legal tender for the payment of all debts contracted on or after April 5,
       1893, between the citizens of this state The same shall and may be
       received in payment of all debts due to the citizens of this state and in
       satisfaction of all taxes levied by the authority of the laws of this state. A
       person shall not compel any other person to tender or accept
       gold and silver coin issued by the government of the United
       States or authorized by law.
            SECTION 2.  Act subject to petition - effective date. This act
       takes effect at 12:01 a.m. on the day following the expiration of the
       ninety-day period after final adjournment of the general assembly (August
       8, 2012, if adjournment sine die is on May 9, 2012); except that, if a
       referendum petition is filed pursuant to section 1 (3) of article V of the
       state constitution against this act or an item, section, or part of this act
       within such period, then the act, item, section, or part will not take effect
       unless approved by the people at the general election to be held in
       November 2012 and, in such case, will take effect on the date of the
       official declaration of the vote thereon by the governor.