A newly introduced bill from State Sen. Marty Harbin in the Georgia Senate proposes permitting voluntary use of gold and silver for both tax and payment purposes, the Georgia State Senate reports.
The legislation, designated SB424, was introduced Tuesday, Jan. 27 as part of the 2026 regular session of the 158th General Assembly and is formally titled: ’”Transactional Gold and Silver Act”; enact’.
This overview is based on the actual bill text and includes clarifications to help interpret its stipulations.
Summarized, the bill would set up a Bullion Depository Commission and facilitate the recognition of gold and silver specie as legal tender in Georgia, allowing their voluntary use in private transactions and, when accepted, for paying taxes and fees. It provides definitions, sets standards for purity, and would allow for the authorization of insured bullion depositories and electronic payment systems so account holders could store, buy, sell, and make purchases with bullion-backed assets. The commission would set regulations covering privacy, security, fraud controls, and prohibits use of transactional data for social credit purposes and the creation of a central bank digital currency. Transactions in gold and silver specie would also be exempt from state taxation. The commission is tasked with implementing the system by Jan. 1, 2028, with the first report required by July 1, 2028. The measure becomes effective once approved by the governor or by operation of law.
Sen. Ed Setzler (Republican-37th), Sen. Brian Strickland (Republican-42nd), Sen. Rick Williams (Republican-25th) and 13 additional co-sponsors have joined Harbin in support of the bill.
Throughout the session, Harbin has introduced seven other bills, with one of those measures being adopted.
Harbin earned his BA from Georgia State University in 1977.
A Republican, Harbin has served in the Georgia State Senate since 2015, representing the 16th Senate District after succeeding then-senator Ronnie Chance.
According to Georgia’s legislative procedure, the process begins when a legislator works with the Office of Legislative Counsel to draft a bill, usually in response to a constituent’s request. Once filed with legislative officials, the bill is read and assigned to committee for review and discussion. If approved in committee, it moves to the chamber floor for debate and a final vote. Passage by both chambers — and reconciliation through a conference committee if necessary — is required before a bill goes to the governor. The governor then has six days during the session, or 40 days after adjournment (Sine Die), to sign, veto, or allow the bill to become law without a signature. Each annual session of the Georgia General Assembly runs 40 days, beginning on the second Monday in January.
| Bill Number | Date Introduced | Short Description |
|---|---|---|
| SB399 | 01/14/2026 | “Mason Sells AED Coordination Act”; enact |
| SB325 | 03/05/2025 | Education; local school systems and public schools to employ or accept as volunteers school chaplains; authorize |
| SB324 | 03/05/2025 | Life Insurance; certain protections for life insurance policyholders and beneficiaries; provide |
| SB261 | 02/26/2025 | Magistrates Retirement Fund; early retirement benefit; provide |
| SB120 | 02/06/2025 | Education; public schools, local education agencies, and public postsecondary institutions shall not promote, support, or maintain any programs or activities that advocate for diversity, equity, and inclusion |
| SB121 | 02/06/2025 | Uninsured Motorist Coverage; minimum required under motor vehicle liability policies for a individual convicted of driving under the influence or reckless driving; increase |
| SB46 | 01/28/2025 | “Government Serves the People Act”; enact |
This article is based on information from the Georgia State Senate. The source data is available here.
