Kansas House Bill HB2515

Kansas 2025-2026 Regular Session

• Introduced: 1/22/26
• Refer: 1/22/26
• Report Pass: 2/3/26
• Engrossed: 2/5/26
• Refer: 2/6/26
• Report Pass: 3/17/26
• Enrolled: 4/10/26

Caption

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

Summary

HB2515 creates the Kansas legal tender act and declares that specie—defined as gold- or silver-content coin or refined bullion meeting specified criteria—may be treated as legal tender in Kansas. The bill recognizes U.S. gold and silver coins as specie legal tender and allows other specie to be designated only if a court of competent jurisdiction finally determines it is within state authority to do so. It also states that, unless a statute or contract says otherwise, no one can be forced to tender or accept specie as payment, while directing the attorney general to enforce the act and requiring Kansas courts to order specific performance for breaches of contracts that designate specie as tender. The bill also amends Kansas income tax law to create a subtraction modification for net gain from the sale of specie beginning after December 31, 2025. In addition, it provides that specie or legal tender is not to be characterized as personal property for taxation or regulatory purposes, and that exchanges between forms of legal tender, as well as purchases, sales, or exchanges of specie, do not create tax liability, with an exception for taxable distributions from retirement accounts holding specie. The bill further updates the Kansas adjusted gross income statute by adding the specie-related subtraction to a long list of existing additions and subtractions, while leaving the broader structure of Kansas income tax modifications in place. The bill’s impact on state law is twofold: it establishes a new statutory framework for recognizing and enforcing specie as a form of legal tender, and it creates a new tax preference for gains from specie sales. It also affects taxpayers, financial institutions, businesses, and state and local government entities by defining who may be subject to the act and by limiting the ability to compel acceptance of specie absent agreement or another statute. The tax provisions would primarily affect individuals and entities holding or trading gold and silver coin or bullion, and could also affect retirement accounts that hold specie. The general sentiment reflected in the voting history was favorable but not unanimous. The bill passed the House 118-5 and the Senate 40-0, indicating broad support in both chambers. However, the conference committee reports drew more opposition, especially in the House, where adoption passed 76-44, suggesting some members had reservations about the final version even though the bill ultimately advanced comfortably. The main points of contention appear to be the policy choice to elevate specie in state law and the tax treatment that accompanies it. Potential concerns include whether the state should create special legal and tax rules for gold and silver, how the act would interact with private contracts and existing commercial practices, and whether the exemption from taxation or regulatory treatment of specie could complicate administration. The requirement that courts enforce specie-designated contracts specifically, and the limitation that no one can be forced to accept specie absent agreement, likely reflect an attempt to balance proponents of precious-metal currency with concerns about coercion and market practicality.

Impact

HB2515 would add a new chapter-like framework in Kansas law for legal tender in the form of specie, define specie and legal tender for state purposes, and require courts and the attorney general to enforce the act. It would also amend Kansas income tax law to exempt gains from the sale or exchange of specie from Kansas income tax beginning in tax years after December 31, 2025, while clarifying that specie and legal tender are not to be treated as personal property for taxation or regulatory purposes and that ordinary exchanges among forms of legal tender do not create tax liability, subject to the retirement-account exception.

Sentiment

The bill appears to have enjoyed broad overall support, passing the House and Senate by large margins and receiving unanimous Senate final passage. The stronger opposition at the conference committee stage, especially in the House, suggests that while the concept had substantial backing, some legislators were uneasy with the final language or with the policy of creating special legal and tax treatment for specie.

Contention

The likely areas of disagreement were the bill’s recognition of gold and silver specie as legal tender, the prohibition on treating specie as personal property for tax or regulatory purposes, and the new tax subtraction for gains from specie sales. Some lawmakers may have viewed these provisions as an unnecessary departure from conventional currency and tax policy, while supporters likely saw them as a way to expand monetary choice and protect precious-metal transactions. The specific-performance remedy for contracts involving specie and the limits on compelling acceptance of specie also likely raised questions about enforceability and commercial practicality.