This bill amends existing laws in Alaska regarding the treatment of specie as legal tender and the imposition of sales and use taxes on it. Specifically, it adds a new subsection to AS 29.45.650 and AS 29.45.700, stating that neither boroughs nor cities may levy or collect a sales or use tax on the sale or exchange of specie. The bill also updates the definitions in AS 29.10.200 to include these new provisions, ensuring that the sales tax exemptions apply uniformly across home rule and general law municipalities.

Additionally, the bill establishes a new section under AS 44.12, defining legal tender in the state to include specie issued by the federal government, recognized foreign governments, or the state government under certain conditions. It clarifies that individuals are not obligated to accept gold or silver specie as payment and mandates the Legislative Budget and Audit Committee to explore the feasibility of introducing additional forms of legal tender. The definitions of "legal tender" and "specie" are also provided, emphasizing that specie refers to gold or silver valued based on its metal content.

Statutes affected:
SB0162A, AM SB 162, introduced 04/09/2025: 29.10.200, 29.45.650, 29.45.700, 04.21.010, 29.45.750, 44.12.400