This bill proposes amendments to the North Dakota Century Code regarding personal and corporate income tax adjustments specifically for capital gains and losses 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%, emphasizing that its value is based on its metal content rather than its form.

Additionally, the bill stipulates that these adjustments are only applicable to the extent that the net capital gains or losses are allocated to the state. The effective date for these changes is set for taxable years beginning after December 31, 2024. Overall, the bill aims to provide tax relief for individuals and corporations involved in the sale of precious metals, aligning state tax regulations with federal taxable income considerations.