Bill > H836

This bill introduces the North Carolina Sound Money Act, which focuses on two main provisions related to investment coins and metal bullion. First, the bill amends the state tax code to allow taxpayers to deduct gains or losses from the disposition of investment coins and investment metal bullion when calculating their North Carolina taxable income. It specifically defines investment coins as numismatic coins or legal tender with a fair market value higher than their nominal value, and investment metal bullion as refined precious metals valued for their content rather than form. Second, the bill adds a new section to state law recognizing certain gold and silver coins and bullion as legal tender in North Carolina, while also clarifying that no person is legally required to accept or offer such tender for payments, and they will not incur liability for refusing to do so. The tax-related provisions will take effect for taxable years beginning on or after January 1, 2025, while the legal tender provisions will become effective on October 1, 2025. The overall aim appears to be providing more flexibility and recognition for alternative forms of currency and investment.

Budget and Finance, Business and Industry

https://www.ncleg.gov/BillLookUp/2025/H836