STATEMENT OF PURPOSE
RS27740 / H0602
The framers of our nation established that gold and silver are money, but federal taxing authorities in recent
decades have required taxpayers to report nominal capital "gains" and "losses" when exchanging this form of
money for Federal Reserve Notes. Idaho already exempts precious metal sales from the sales tax. This bill will
exempt the sale of precious metals bullion from being subject to capital gains.
FISCAL NOTE
There could be a negative fiscal impact to the state general fund if the bullion is sold at a gain. There could also
be a positive fiscal impact to the state general fund if the bullion is sold at a loss.
Contact:
Representative Tammy Nichols
(208) 332-1000
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 03/05/2020, 8:17 AM


Statutes affected:
Bill Text: 63-3022