This bill amends the General Sales Tax Act of 1933 by updating the provisions related to the exemption of sales of investment coins and bullion from sales tax. Specifically, it clarifies that starting January 1, 2026, the definition of "bullion" will 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 United States or any foreign government. The bill retains the existing definitions of "bullion" and "investment coins," ensuring that these items remain exempt from sales tax.

Additionally, the enactment of this amendatory act is contingent upon the passage of two other bills from the 103rd Legislature, specifically House Bill No. 5130 and House Bill No. 5129. This requirement emphasizes the interconnected nature of legislative changes and ensures that the amendments to the sales tax exemption for investment coins and bullion are implemented in conjunction with related legislative measures.

Statutes affected:
House Introduced Bill: 205.54