At a fixed or floating rate?
This bold bill will finally bring Indiana back into conformance with the Constitution for the United States of America which states "No state shall...make any Thing but gold and silver Coin a Tender in Payment of Debts..." Article 1, Section 10.
They'll be creating their own coins?
Gold coins were struck in Georgia in 1830 to take advantage of the gold srike there. Similarly North Carolina struck gold coins from 1830 to 1852, as the Piedmont area was the nations principal source of domestic gold until the California gold strikes of 1848. California minted many gold coins before and after statehood in 1850. Oregon, Colorado and Utah also had their own coins.
States minting their own gold coins has a pretty solid precedent in the Real USA.