Supporting County Currency Legislation in Iowa

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jabowery
Posts: 6
Joined: Mon Jan 09, 2012 9:15 am

Supporting County Currency Legislation in Iowa

Post by jabowery »

I'm on the Republican Party of Iowa's Congressional District 3 Platform Committee, and have succeeded in placing a county currency plank in the platform to be voted on in the Iowa State Republican Party Convention this coming June. If that plank is passed, there are already Republican candidates for the Iowa Legislature that have expressed interest in passing legislation enabling county currency. The plank not only recognizes the authority of county governments to issue currency that they accept in payment of county taxes, but it exempts from state taxes economic activity conducted in county currencies.

The reason I'm posting this topic here is that Cyclos appears to be one of the most compete packages for supporting local currencies but I've been unable to identify the 2 specific features in Cyclos that enable county currency:

1) The county government, alone, can create that county's currency.
2) The county government, alone, can retire that county's currency.

I'm sure it must be possible to do so, but how?

admin
Site Admin
Posts: 1420
Joined: Mon Jan 24, 2005 10:31 am

Re: Supporting County Currency Legislation in Iowa

Post by admin »

Hi Jabowery,
1) The county government, alone, can create that county's currency.
2) The county government, alone, can retire that county's currency.
This is possible. Normally it is done with a 'debit' or 'float' account that is used to create and take out internal currency. You can find information on that in the manual (login as admin - Help - Manual - Account management - section: 'Standard Account types'

There are many points to consider though. Such as:
Is the local currency redeemable?
What is the business model, will there be any fees, are there any fees?
What groups, profile fields etc.

A good starting point is http://project.cyclos.org/wiki/index.ph ... figuration

Regards,

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