H.R.4248 - Free Competition in Currency Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Paul, Ron [R-TX-14] (Introduced 12/09/2009)|
|Committees:||House - Financial Services; Judiciary; Ways and Means|
|Latest Action:||03/01/2010 Referred to the Subcommittee on Commercial and Administrative Law.|
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- Finance and Financial Sector
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Summary: H.R.4248 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (12/09/2009)
Free Competition in Currency Act of 2009 - Repeals the federal law establishing U.S. coins, currency, and reserve notes as legal tender for all debts, public charges, taxes, and dues.
Prohibits any tax on any coin, medal, token, or gold, silver, platinum, palladium, or rhodium bullion issued by a state, the United States, a foreign government, or any other person. 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 has legal tender status under the Constitution.
Repeals provisions of the federal criminal code relating to uttering coins of gold, silver, or other metal for use as current money and making or possessing likenesses of such coins. Abates any current prosecution under such provisions and nullifies any previous convictions.