H.R. 5427: Tax-Free Gold Act of 2008

Tax-Free Gold Act of 2008 – Prohibits the imposition of tax on any coin, medal, token, or gold, silver, platinum, palladium, or rhodium bullion issued by any person or jurisdiction.

Prohibits states from assessing any tax or fee on any currency or other monetary instrument that is used in interstate or foreign commerce and that is subject to the enjoyment of legal tender status under the U.S. Constitution.

Full Bill Text

Bill Status

Introduced in House
Passed House
Voted on in Senate
Signed by President
February 13, 2008
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For a U.S. bill to become law, it must pass both the House of Representatives and the Senate, and then get signed by the President.

H.R. 5427 was introduced in the House on Feb. 13, 2008. To date, no additional action has been seen other then its intital referral to the Committee on Ways and Means, and in addition to the Committee on the Judiciary.

CoinNews Articles on or about H.R. 5427

  • February 21, 2008: Ron Paul Introduces ‘Tax-Free Gold Act of 2008’
    While Congressman Ron Paul [R-TX] is running for President, he is also attempting to create new law. On February 13, 2008, Mr. Paul introduced a bill titled, the Tax-Free Gold Act of 2008. Should the bill become law, it would eliminate taxes and fees on certain coins and bullion.

Sponsor of H.R. 5427

Related Bills

None.

Bill Actions by Date

  • 2/13/2008: Referred to the Committee on Ways and Means, and in addition to the Committee on 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.
  • 2/13/2008: Referred to House Ways and Means
  • 2/13/2008: Referred to House Judiciary

Text of H.R. 5427: Tax-Free Gold Act of 2008

HR 5427 IH (Introduced in House)


110th CONGRESS


2d Session


H. R. 5427

To provide that no tax or fee may be imposed on certain coins and bullion.


IN THE HOUSE OF REPRESENTATIVES


February 13, 2008

Mr. PAUL introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on 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 provide that no tax or fee may be imposed on certain coins and bullion.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the `Tax-Free Gold Act of 2008′.

SEC. 2. 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, 2008, but shall not apply to taxes or fees imposed before such date.


Additional resources for H.R. 5427