Rules of Gold in Kansas

Kansas has not yet enacted a legal-tender statute for gold and silver, but the 2025-2026 biennium has produced two parallel vehicles: SB 39 ("Kansas Legal Tender Act") passed the Senate 28-12 on 2025-03-24 and advanced to the House, where a House Tax Committee hearing was scheduled for 2026-02-16; and HB 2515 (2026 session, lead Sen. Michael Murphy R-Sylvia), which combines legal-tender recognition for gold and silver coin/bullion with a capital-gains income-tax exemption AND a sales-/property-tax exemption for specie transactions. Tier-2 verification (2026-04-26): HB 2515 passed the Kansas Legislature in early-to-mid-April 2026 and was forwarded to Gov. Laura Kelly (D) on or before 2026-04-13 per Kansas Reflector reporting; her action (sign / veto / let-become-law-without-signature) is unconfirmed in available reporting as of 2026-04-26. With Kansas Republicans holding override-capable margins in both chambers and having overridden multiple Kelly vetoes during the 2026 veto session, enactment in some form is the high-probability outcome. Operator must verify gubernatorial action on HB 2515 and any veto-override votes before publication.

Kansas levies state individual income tax on capital gains as ordinary income — no preferential rate, no precious-metals carve-out under current law. Kansas 2025 individual income tax has two brackets at 5.20% and 5.58% (top marginal rate), applied to net taxable income after the standard deduction ($9,765 single / $26,540 married filing jointly for 2025). Capital gains on physical gold and silver are taxed at the applicable bracket rate. HB 2515 (forwarded to Gov. Kelly 2026-04-13) would create both a legal-tender designation AND an income-tax subtraction modification for specie sales; if HB 2515 is signed or overridden, this field flips to `No-explicitly-exempted` and Kansas joins the PM-cap-gains-exempt club alongside AZ/UT/WY/OK/AR/ID/IA/NE/MO/ND. Operator must verify gubernatorial action before publication.

Kansas has not enacted enabling legislation authorizing a state-administered or state-chartered bullion depository. SB 115 (2025-2026 biennium, "Kansas Bullion Depository Act") would authorize the State Treasurer to establish, administer, or contract for the administration of bullion depositories, allow state moneys to be deposited in such depositories and invested in specie legal tender, and permit individuals to establish accounts to purchase, sell, deposit, or withdraw bullion through the depository. SB 115 is pending; not enacted. Earlier vehicle SB 513 (2024) included a similar Kansas Bullion Depository Act and did not advance.

The Kansas State Treasurer does not hold physical gold or silver as a reserve asset. There is no current statutory authority for such holdings; SB 115 (pending) would authorize state moneys to be invested in specie legal tender and deposited in state bullion depositories.

The Kansas Public Employees Retirement System (KPERS) does not hold physical gold or silver as a portfolio asset. KPERS follows a standard institutional asset allocation across public equities, fixed income, alternatives, and real estate; no precious-metals or commodities line item is disclosed. The Kansas State Treasurer serves on the KPERS Board of Trustees and on the Pooled Money Investment Board.