This bill proposes amendments to the North Dakota Century Code regarding personal and corporate income tax adjustments specifically for capital gains derived from the sale of gold and silver bullion. It introduces new provisions that allow taxpayers to reduce their taxable income by the amount of net capital gains or increase it by net capital losses from the sale of legal tender coins or bullion. The bill defines "bullion" as precious metal refined to a purity of at least 99% and emphasizes that its value is based on its metal content rather than its form.

Additionally, the bill stipulates that these adjustments are applicable only to the extent that the net capital gain is allocated to the state. The effective date for these changes is set for taxable years beginning after December 31, 2024. Overall, the legislation aims to provide tax relief for individuals and corporations engaging in transactions involving gold and silver bullion, thereby potentially encouraging investment in these assets.