Bill > HB1

This bill modifies Alaska state law to establish legal provisions around specie (gold and silver coins or bullion) as a form of legal tender, while also creating tax exemptions related to specie transactions. Specifically, the bill prevents boroughs and cities from levying sales or use taxes on the value of gold or silver contained within specie during sales or exchanges, applying to both home rule and general law municipalities. The legislation defines specie as gold or silver coins or bullion valued primarily by metal content and stamped with weight and purity. The bill establishes that legal tender can include specie issued by the federal government, recognized foreign governments, or potentially the state government, though it clarifies that no person or entity is required to accept gold or silver specie as payment. Additionally, the bill mandates that the Legislative Budget and Audit Committee study the potential for establishing additional forms of legal tender, including investigating consumer protections and behaviors related to specie transactions, with the possibility of preparing future legislation if deemed practical and beneficial.

Budget and Finance, Government Affairs

https://www.akleg.gov/basis/Bill/Detail/34?Root=HB1