This bill amends existing laws in Alaska to clarify the treatment of specie, specifically gold and silver, as legal tender and to address borough and city sales and use taxes on such specie. It introduces new provisions that prohibit boroughs and cities from levying sales or use taxes on the value of gold or silver contained within specie during its sale or exchange. The bill also updates the definitions of legal tender to include specie issued by the federal government, recognized foreign governments, and the state government under certain conditions.

Additionally, the bill mandates the Legislative Budget and Audit Committee to study the feasibility of establishing additional forms of legal tender for debts owed to the state, as well as consumer protections related to the sale and use of specie. The committee is tasked with preparing legislation if it finds that additional forms of tender are practical and beneficial. The amendments include the addition of new subsections to existing statutes, specifically AS 29.45.650 and AS 29.45.700, which outline the sales tax provisions and the legal status of specie as a medium of exchange.

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
SB0162B, AM CSSB 162(STA), introduced 03/20/2026: 29.10.200, 29.45.650, 29.45.700, 04.21.010, 29.45.750, 44.12.400