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

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Plain-English Summary

This bill establishes the Kansas Legal Tender Act, which recognizes gold and silver coins and bullion as legal tender in Kansas. It also provides an income tax subtraction for gains from the sale of this specie, with some exceptions for retirement accounts. The act aims to clarify the status of gold and silver for tax and legal purposes within the state.

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