The bill CS/HB 999 amends Florida law to establish gold and silver coins as legal tender for specific purposes, effective July 1, 2026, contingent upon legislative ratification of related rules. It revises the sales and use tax exemption for these coins, requiring individuals to prove that the coins meet defined purity standards. The bill creates a presumption regarding the purity of the coins and prohibits any markings that suggest government minting, with exceptions for weight and purity. It also ensures that no person or entity is required to accept these coins as legal tender, although governmental entities may accept them for taxes and dues through electronic transfer.

Additionally, the bill introduces new regulations for custodians of gold and silver coins, mandating compliance with security standards, accurate accounting, and annual audits. Custodians must maintain insurance for the full replacement value of the coins and segregate them from other assets. The legislation also outlines the responsibilities of money services businesses related to these coins, including maintaining separate accounts and providing disclosures to customers. The bill aims to enhance the regulatory framework surrounding the custody and handling of gold and silver coins, ensuring consumer protection and financial integrity while allowing for flexibility in the financial services sector.

Statutes affected:
H 999 c1: 560.204, 560.205, 655.50, 672.511, 559.952
H 999 e1: 212.05, 560.109, 560.205, 655.50, 672.511, 731.1065, 559.952
H 999 er: 212.05, 560.109, 560.205, 655.50, 672.511, 731.1065, 559.952