Bill
HF 881
Overview: HF 881, Sales and use tax exemption on precious metal bullion expanded to include coins and other forms of currency. The bill's status is that the author, Schultz, has be
Overview: HF 881, Sales and use tax exemption on precious metal bullion expanded to include coins and other forms of currency. The bill's status is that the author, Schultz, has been added. It was introduced on March 07, 2025.
Purpose and Intent: The main goal of this bill is to expand the existing sales and use tax exemption on precious metal bullion to include coins and other forms of currency. This change would provide tax relief for individuals and businesses involved in the purchase and sale of these types of precious metal products.
Key Provisions:
- Expands the current sales and use tax exemption on precious metal bullion to include coins and other forms of currency made from precious metals.
- Ensures that the purchase and sale of these precious metal products are exempt from state sales and use taxes.
Affected Parties and Impacts: This bill would primarily benefit individuals and businesses that engage in the purchase and sale of precious metal coins, bullion, and other currency. It would provide them with tax savings on these transactions.
Procedural and Timeline Considerations: The bill is currently in the introduction and first reading stage, with the author, Schultz, having been added. The next step would be for the bill to be referred to a committee for further consideration and potential amendments.
Compiled from official sources — confirm details with the bill’s official record.
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