Bill > HB2069

This bill establishes a new legal framework for precious metal bullion and monetized bullion in Washington state, defining key terms such as "legal tender," "monetized bullion" (coins or money made from precious metals), and "precious metal bullion" (refined gold or silver valued for its content). The bill clarifies that no person or entity can be compelled to use or accept precious metal bullion or monetized bullion as payment unless specifically required by law or contract. It also ensures that exchanging different forms of precious metal bullion or monetized bullion for legal tender will not trigger additional tax liability. The legislation amends existing state laws to exempt precious metal bullion and monetized bullion from certain tax calculations and classifications, and adds precious metal bullion to the list of intangible personal property that is exempt from ad valorem taxation. Washington courts will be required to recognize contract provisions that specify payment in precious metal bullion or monetized bullion. The bill is named the "Washington state sound money act" and is set to take effect on July 1, 2025, with proponents likely arguing it provides more financial flexibility and protects individuals' choices in monetary transactions.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=2069&Year=2025&Initiative=false