South Carolina H 5115: American Energy Independence

Bill Text

2025-2026 Bill 5115 Text of Previous Version (Feb. 05, 2026) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 5115

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH 
CAROLINA CODE OF LAWS BY ADDING ARTICLE 17 TO CHAPTER 1 OF TITLE 1 SO AS TO 
PROVIDE THAT CERTAIN GOLD AND SILVER SPECIE ARE LEGAL TENDER IN THIS STATE, AND 
TO AUTHORIZE THE STATE COMPTROLLER GENERAL TO ESTABLISH ELECTRONIC SYSTEMS, CONTRACT 
WITH VENDORS, AND ADOPT RULES TO IMPLEMENT THE PROVISIONS OF THIS ACT.

Be it enacted by the 
General Assembly of the State of South Carolina:

SECTION 1. Chapter 1, Title 1 of the S.C. Code is amended by 
adding:

Article 17

Gold and Silver as Legal Tender

 Section 
1-1-1110. (A) To the extent 
authorized by Article 1, Section 10, Clause 1 of the Constitution of the United 
States, gold and silver specie that meet the requirements of this section are 
legal tender in this State.

 (B) To 
be legal tender in this State, gold and silver specie:

 (1) 
must be imprinted, stamped, or otherwise marked with the specie's weight and 
purity and may be imprinted, stamped, or otherwise marked with a name or symbol 
that identifies a refiner or mint of the specie; and

 (2) 
except for the information described by item (1), may not be imprinted, 
stamped, or otherwise marked with any name, symbol, or other information or 
design, including any suggestion that the specie has been minted or issued by a 
government.

 (C) 
This section does not:

 (1) 
restrict the electronic transfer of gold and silver specie or gold and silver 
currency as legal tender for the payment of a debt;

 (2) 
apply to United States coins or currency issued or recognized under federal 
law; or

 (3) 
prohibit or limit the legal tender, acceptance, or use of the Federal Reserve 
notes in the payment of a debt.

 (D) A person 
may not be required to offer or accept gold and silver specie or gold and 
silver currency as legal tender for the payment of a debt, for deposit, or for 
any other purpose.

 Section 
1-1-1120. The Comptroller General may establish or authorize one or more 
electronic systems that enable a depositor or vendor to make and receive 
payments using a currency backed by gold and silver bullion held in the 
depository.

 Section 
1-1-1130. The Comptroller General may contract with one or more vendors to 
implement this article. To the extent consistent with state and federal law, in 
contracting with a vendor under this section, the Comptroller General shall 
give preference to a vendor whose principal place of business is in this State.

 Section 
1-1-1140. The Comptroller General shall adopt rules 
as necessary or convenient to implement and administer this article, including 
rules to:

 (1) 
provide for the security of transactions in gold and silver specie and gold and 
silver currency and related information;

 (2) 
determine the value of the gold and silver currency described at the time of a 
transaction or in a commercially reasonable manner;

 (3) 
establish a fee that is reasonable and necessary to administer the article:

 (4) 
authorize and approve vendors, including financial institutions, to provide an 
electronic system; and

 (5) 
adopt policies and procedures to prevent:

 (a) 
fraud; and

 (b) 
transactions in gold and silver specie or gold and silver currency involving a 
foreign adversary, or a person associated with a foreign adversary, as 
determined under 15 C.F.R. Section 791.4.

SECTION 2. This act takes effect upon approval 
by the Governor.

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This web page was last updated on February 05, 2026 at 11:26 AM