The proposed bill aims to amend the North Dakota Century Code by introducing new provisions related to personal and corporate income tax adjustments for capital gains derived from the sale of gold and silver bullion. Specifically, it creates a new subdivision in section 57-38-01.3 that allows 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 establishes a new subdivision in section 57-38-30.3, which similarly permits adjustments for net capital gains or losses from the sale of gold and silver bullion, contingent upon their inclusion in federal taxable income. This adjustment is limited to the extent that the net capital gain or loss is allocated to the state. The effective date for these changes is set for taxable years beginning after December 31, 2024.