LouisianaLouisiana law sets rules for gold- and silver-backed payment platforms
Louisiana’s Treasury Department must certify qualifying gold- and silver-backed payment platforms under a voluntary program, if a separate law provides specific implementation funding.
What it does
Louisiana’s Treasury Department must run a voluntary program to certify gold- and silver-backed payment platforms. The program can take effect only after a separate law provides specific implementation funding.
Platforms that falsely claim Bayou Gold certification may face civil fines or removal from the public registry. This penalty takes effect only after a separate law provides specific implementation funding.
Argument forIf the program receives specific funding, customers may get clearer ownership protections, fee disclosures, and a way to request their metals in physical form.
Argument againstCustomers could still lose money if a certified platform fails, because the state does not guarantee deposits or cover the platform’s actions.
More detail
The Department of the Treasury must run a voluntary program that certifies qualifying electronic payment platforms. The program covers private platforms that offer payment accounts backed by gold or silver. These provisions take effect only when a separate Louisiana law making a specific appropriation for implementation takes effect. To qualify, a platform must keep customers’ metals fully backed and separate from its own assets and debts, store them in Louisiana or a bordering state, and meet the listed storage, refining, and payment standards. Platforms must allow customers to request physical gold or silver within five business days, subject to reasonable logistics and security procedures, and clearly disclose fees and other compensation. The program provisions take effect when a separate law with a specific implementation appropriation takes effect.
The department may penalize platforms that falsely claim Bayou Gold certification. This applies to electronic payment platforms falsely claiming certification under the Bayou Gold Program. This provision takes effect only when a separate Louisiana law making a specific appropriation for implementation takes effect. Penalties may include civil fines and removal from the public registry. The penalty provision takes effect when a separate law with a specific implementation appropriation takes effect.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 8Signed by the Governor Jeff Landry. Becomes Act No. 841.Became Law
- Jun 8Effective date: 06/08/2026.
- Jun 1Signed by the President of the Senate.
- Jun 1Sent to the Governor for executive approval.To Governor
- May 31Enrolled and signed by the Speaker of the House.Minor
- May 29Scheduled for concurrence on 05/29/2026.
- Vote recorded CONCUR IN SENATE AMENDMENTS (#1739). Result: pass.Lower
- May 29Read by title, roll called, yeas 97, nays 0, Senate amendments concurred in.
- May 28The amended bill was read by title, passed by a vote of 26 yeas and 2 nays, and ordered returned to the House. Motion to reconsider tabled.Passed Senate
- Vote recorded FINAL PASSAGE (#1498). Result: pass.Upper
- May 28Received from the Senate with amendments.Minor
- May 27Rules suspended. Reported with amendments. Rules suspended. Committee amendments read and adopted. Read by title and referred to the Legislative Bureau.Minor
- May 27Reported without Legislative Bureau amendments. Read by title and passed to third reading and final passage.Minor
- May 21Read by title. Recommitted to the Committee on Finance.
- May 20Reported favorably.Minor
- Apr 29Read second time by title and referred to the Committee on Commerce, Consumer Protection and International Affairs.Minor
- Apr 28Received in the Senate. Read first time by title and placed on the Calendar for a second reading.Minor
- Apr 27Read third time by title, amended, roll called on final passage, yeas 101, nays 0. Finally passed, title adopted, ordered to the Senate.Passed House
- Vote recorded FINAL PASSAGE (#738). Result: pass.Lower
- Apr 23Scheduled for floor debate on 04/27/2026.
- Apr 22Read by title, amended, ordered reengrossed, passed to 3rd reading.Minor
- Apr 21Reported with amendments (16-0).Minor
- Mar 18Read by title, amended, ordered engrossed, recommitted to the Committee on Appropriations.
- Mar 17Reported with amendments (14-0).Minor
- Mar 9Read by title, under the rules, referred to the Committee on Commerce.Minor
- Feb 27Prefiled.Minor
- Feb 27Under the rules, provisionally referred to the Committee on Commerce.Minor
- Feb 27First appeared in the Interim Calendar on 2/27/2026.Introduced
Consumer Protection