SB 1588: Legal Tender
GENERAL BILL by Gruters
Legal Tender; Revising the definitions of the terms “gold coin” and “silver coin”; revising requirements for gold coin and silver coin recognized as legal tender; deleting a provision regarding examination of certain applicants; revising prohibitions relating to money services businesses; revising license application requirements for certain applicants, etc.
Effective Date: Upon becoming a law
Last Action: 2/18/2026 Senate - Now in Rules
Bill Text: Web Page | PDF
Last Action: 2/18/2026 Senate - Now in Rules
Bill Text: Web Page | PDF
Senate Committee References:
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Bill History
Date Chamber Action 1/9/2026 Senate • Filed
1/16/2026 Senate • Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Rules
1/22/2026 Senate • Introduced
2/6/2026 Senate • On Committee agenda-- Banking and Insurance, 02/11/26, 9:00 am, 412 Knott Building
2/11/2026 Senate • Favorable by Banking and Insurance; YEAS 9 NAYS 0
• Now in Appropriations Committee on Agriculture, Environment, and General Government
2/13/2026 Senate • On Committee agenda-- Appropriations Committee on Agriculture, Environment, and General Government, 02/18/26, 10:30 am, 412 Knott Building
2/18/2026 Senate • Favorable by Appropriations Committee on Agriculture, Environment, and General Government; YEAS 11 NAYS 0
• Now in Rules
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SB 1588, Original Filed Version (Current Bill Version) Posted 1/9/2026 at 11:35 AM
Bill Text: Web Page | PDF Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 1311 (c1) Legal Tender Insurance & Banking Subcommittee Compare Last Action: 2/20/2026 H Added to Commerce Committee agenda 
Committee Votes (2)
Date Committee Result 2/11/2026 9:00 AM Banking and Insurance 9 Yeas - 0 Nays 2/18/2026 10:30 AM Appropriations Committee on Agriculture, Environment, and General Government 11 Yeas - 0 Nays Citations - Statutes (10)
Citation Catchline Location in Bill Location In Bill Help 215.986 Gold and silver coin as legal tender. Page 2 (pdf) 280.21 Custodians of gold coin and silver coin. Page 10 (pdf) 559.952 Financial Technology Sandbox. Page 10 (pdf) 560.103 Definitions. Page 4 (pdf) 560.109 Examinations and investigations. Page 5 (pdf) 560.141 License application. Page 6 (pdf) 560.155 Gold and silver coin as legal tender. Page 6 (pdf) 560.205 Additional license application requirements. Page 8 (pdf) 560.214 Custodians of gold coin or silver coin. Page 10 (pdf) 655.97 Gold and silver coin as legal tender. Page 12 (pdf) Citations - Chapter Law (1)
Chapter Law Section Amended Location in Bill Location In Bill Help 2025-100 Section 18 Page 1 (pdf)