This bill proposes amendments to the North Dakota Century Code regarding personal and corporate income tax adjustments specifically related to capital gains from the sale of bullion. It introduces new provisions in sections 57-38-01.3 and 57-38-30.3, which allow taxpayers to adjust their taxable income by reducing it by the amount of net capital gains or increasing it by net capital losses from the sale of gold and silver legal tender coins or bullion. The bill defines "bullion" as precious metal refined to a purity of at least 999 parts per thousand, emphasizing that its value is based on its metal content rather than its form.

Additionally, the adjustments for capital gains or losses are only applicable to the extent that these amounts are included in federal taxable income and allocated to the state. The effective date for these changes is set for taxable years beginning after December 31, 2024. This legislation aims to provide tax relief for individuals and corporations involved in the sale of precious metals, thereby potentially encouraging investment in bullion.