SB 1588 Florida Senate · 2026 Regular Session

Legal Tender

Summary

Legal Tender; Ratifying specified rules relating to legal tender for the sole and exclusive purpose of satisfying any condition on effectiveness pursuant to chapter 2025-100, Laws of Florida, etc.

Bill status in committee 3 of 5 stages cleared

Introduction

Jan 2026

Committee Review

Mar 2026

Senate Passage

Mar 2026

House Passage

Governor

Introduced Jan 22, 2026 Last action Mar 6, 2026

Maddy AI version diff · 1 comparison

What changed between versions

S 1588 Filed → S 1588 c1 · 5 edits

MODERATE

The bill was revised from a comprehensive law creating new legal tender rules to a ratification bill that only validates specific administrative rules. The original version, which would have defined gold and silver coins, established new licensing requirements, and set purity standards, was removed. The new version focuses solely on making existing rules effective immediately.

Scope change

The bill's scope was significantly narrowed; it no longer creates new substantive laws regarding legal tender but instead serves to ratify rules that were previously proposed under a different legislative chapter.

REQUIREMENT

All new definitions for 'gold coin' and 'silver coin', including purity thresholds and prohibited markings, were deleted.

Provisions requiring money services businesses to maintain separate accounts, insure gold and silver, and submit specific financial audits were removed.

DEFINITION

The detailed definitions for 'custodian', 'foreign currency exchanger', and 'money transmitter' regarding gold and silver were deleted.

TIMELINE

The bill now explicitly ratifies specific administrative rules to satisfy conditions for effectiveness under a prior law chapter.

SCOPE

The bill was changed from a substantive regulatory act to a procedural ratification act.

Floor votes · Senate Mar 3, 2026

How they voted

20–1

Passed · 3 other

Total votes 24

Mar 3, 2026

D Democratic5

5 Yea

100% Yea

I Independent1

1 Yea

100% Yea

R Republican18

14 Yea 1 Nay 3

77% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 4, 2026

Upper · Passed

Pending reference review -under Rule 4.7(2) - (Committee Substitute)

upper

Mar 3, 2026

Senate · Passed

Senate Vote: pass (20-1-3)

senate

Feb 26, 2026

Upper · Passed

On Committee agenda-- Rules, 03/03/26, 9:00 am, 412 Knott Building

upper

Feb 18, 2026

Upper · Passed

Favorable by Appropriations Committee on Agriculture, Environment, and General Government; YEAS 11 NAYS 0

upper

Feb 13, 2026

Upper · Passed

On Committee agenda-- Appropriations Committee on Agriculture, Environment, and General Government, 02/18/26, 10:30 am, 412 Knott Building

upper

Feb 11, 2026

Upper · Passed

Now in Appropriations Committee on Agriculture, Environment, and General Government

upper

Feb 11, 2026

Upper · Passed

Favorable by Banking and Insurance; YEAS 9 NAYS 0

upper

Feb 6, 2026

Upper · Passed

On Committee agenda-- Banking and Insurance, 02/11/26, 9:00 am, 412 Knott Building

upper

Jan 22, 2026

Introduced

upper

Jan 16, 2026

Committee

Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Rules

upper

1 primary · 1 co-sponsor