This bill amends the Use Tax Act of 1937 by modifying Section 4u, which pertains to the taxation of investment coins and bullion. The bill specifies that, starting January 1, 2026, the definition of "bullion" will expand to include leaf, foil, or film of gold, silver, or platinum that has a metallic content of 50% or more, provided it is used as currency but is not legal tender issued by the U.S. or foreign governments. This change aims to clarify the types of bullion that are exempt from the use tax, which has been in effect since July 7, 1999.

Additionally, the bill outlines that the enactment of this amendment is contingent upon the passage of two other specified bills from the 103rd Legislature. The inclusion of these provisions indicates a coordinated legislative effort to address the taxation of investment coins and bullion comprehensively.

Statutes affected:
House Introduced Bill: 205.94