Constitutional Tender Act Gets Georgia Hearing

On Monday, March 8, 2011, a hearing was held in the Georgia House Financial Institutions & Services Subcommittee (a Banks & Banking Committee subcommittee) on HB 3, the Constitutional Tender Act.

Testimony in favor of the bill was given by Rep. Bobby FranklinDr. Bill Greene, who authored the bill. There was no testimony in opposition to the bill given.

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HB 3 would return the State of Georgia to adherence to the U.S. Constitution’s legal tender provisions. Specifically, the U.S. Constitution declares in Article I, Section 10 that “no State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts”. This means that no State can make something a “tender in payment” (which means they cannot “make something an offer as payment”) for any debts, which would include debts owed by and to the State.

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