Indiana FTW

[78SA]

Indiana General Assembly

DIGEST OF INTRODUCED BILL

Indiana firearms freedom act. Provides that a firearm, a firearm accessory, or ammunition that: (1) is manufactured commercially or privately in Indiana from basic materials; (2) can be manufactured without the inclusion of any significant parts imported from another state; and (3) remains within the borders of Indiana; is not subject to federal law or federal regulation, including registration, under the authority of the United States Congress to regulate interstate commerce.

[Montehall]

Awesome. IRCC Indiana is one of the "free-est" states in terms of personal freefoms.

[lspencer534]

It won't work because of the Supremacy Clause of the U.S. Constitution (Federal laws trump State laws) just like it still remains a crime under Federal law to possess marijuana in Colorado.

[NavyC5]

Originally Posted by lspencer534

It won't work because of the Supremacy Clause of the U.S. Constitution (Federal laws trump State laws) just like it still remains a crime under Federal law to possess marijuana in Colorado.

Yeah and we see how well the federal govt is enforcing immigration, drugs, and DOMA.

The feds will probably try to override it because it goes against their liberal agenda but if it's something they agree with our justice department looks the other way.

[78SA]

And there is this.

Gold and Silver Legal Tender Law Introduced in Indiana – Tenth Amendment Center Blog

Gold and Silver Legal Tender Law Introduced in Indiana
Posted by Nick Hankoff

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Senate Bill No. 99 has been introduced by State Senators Greg Walker and Jim Banks to free US-issued gold and silver coins from sales, use, and capital gains taxes.

SB-99 will add a new Chapter to the Indiana Code effectively making all taxes on gold and silver coins and transactions a thing of the past. From the bill’s synopsis:

Specifies that gold and silver coins issued by the United States government are legal tender in Indiana. Provides that a person may not compel another person to tender or accept gold or silver coins that are issued by the United States government, except as agreed upon by contract. Provides that the sale or other exchange of gold or silver coins issued by the United States government is exempt from state gross retail tax and use tax. Specifies that capital gains incurred on a sale or exchange of gold or silver coins issued by the United States government are not included in adjusted gross income for purposes of the state adjusted gross income tax.

On Monday, January 7 it will be read and referred to Committee on Tax and Fiscal Policy where co-author Sen. Walker sits. Should it pass on to the rest of the legislature then on to the governor’s desk and signed, the bill would become law by July 1 and the income tax aspects would be in effect January 1, 2014.

The fiscal impact report estimates that 2% of the US Mint’s gold and silver coins are in Indiana, calculating a $9.4 million loss in state revenue from retail and capital gains taxes. If accurate, that is a nice takeaway for Indianans who choose to transact with what the US Constitution lays out as legal tender under Article I, Section 10 – which reads “No State Shall…make any Thing but gold and silver Coin a Tender in Payment of Debts”

Dr. William Greene, in a paper for the Austrian Scholars Conference, explained how state legal tender laws can be an effective method to ending the fed from the bottom up. In essence, pulling the rug out from under their monopoly control of money:

“Over time, as residents of the State use both Federal Reserve Notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve Notes do will lead to a “reverse Gresham’s Law” effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve Notes). As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the State’s treasury, an influx of banking business from outside of the State – as people in other States carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve Notes for any transactions.”

Utah passed a similar bill, HB-317, in 2011 legalizing Constitutional tender, gold and silver coins issued by the federal government.