Bill > SB01552

This bill establishes a Connecticut Precious Metals Working Group to monitor economic conditions, inflation expectations, precious metals prices, and related market activities. The working group will consist of members of the General Assembly, the Treasurer or their designee, and additional experts such as economists, bankers, and precious metals investors. Starting in 2026, the group will submit an annual report to legislative committees summarizing their findings and offering recommendations to improve the state's precious metals market. The bill also modifies the state's sales and use tax exemption for precious metals, removing the previous $1,000 minimum transaction threshold and expanding the exemption to include gold and silver bullion with at least 90% purity, palladium bullion, and platinum, in addition to rare coins and legal tender from any nation that is traded based on its precious metal value. This legislation aims to recognize gold and silver as legal tender, promote precious metals ownership, and create a more favorable environment for precious metals transactions in Connecticut.

Budget and Finance

Finance, Revenue and Bonding Committee (J)

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB01552&which_year=2025