Bill > AB359

This bill proposes to place a voter referendum on the November 3, 2026 ballot to exempt certain coins, currency, and bullion from sales and use taxes. Specifically, the proposed tax exemption would apply to coins, currency, and bullion that are: (1) manufactured from precious metals like gold, silver, platinum, or palladium; (2) used solely as legal tender, security, or commodity in Nevada, another state, the United States, or a foreign country; and (3) sold primarily based on their intrinsic value as precious materials or collectible items rather than their value as a medium of exchange. If approved by voters, the exemption would become effective on January 1, 2027, and remain in effect until December 31, 2050. The bill also ensures that if the referendum passes, the Local School Support Tax Law and other analogous sales and use taxes would be similarly amended to provide the same tax exemption. The Legislature has determined that this tax exemption will achieve a legitimate social or economic purpose and will not adversely impact the state's or local governments' ability to meet their financial obligations. The ballot will present a clear yes-or-no question to voters about whether to implement this sales tax exemption for specific types of coins, currency, and bullion.

Budget and Finance

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12468/Overview