Bill > SB162

This bill declares that specie, meaning gold or silver valued for its metal content and in the form of coin or bullion, is legal tender in Alaska to the fullest extent permitted by the U.S. Constitution, including specie issued by the federal government, recognized foreign governments, or potentially the state government itself under specific conditions. Importantly, it prohibits boroughs and cities from levying or collecting sales or use taxes on the value of the gold or silver within specie during its sale or exchange, thereby clarifying that such transactions are not subject to local sales taxes on the precious metal content. The bill also mandates a study by the Legislative Budget and Audit Committee on establishing additional forms of legal tender and related consumer protections.