This bill introduces a new section to the Gross Receipts and Compensating Tax Act, allowing a gross receipts tax deduction for the sale of gold and silver coins or bullion. Specifically, it permits taxpayers to deduct receipts from such sales from their gross receipts until July 1, 2031. Taxpayers benefiting from this deduction are required to report the deduction amount to the relevant department in a specified manner. Additionally, the bill mandates that the deduction be included in the tax expenditure budget, detailing its annual aggregate cost.

The bill defines "bullion" as a bar, ingot, or commemorative medallion, where the value is determined by the metal content rather than its form. The provisions of this act are set to take effect on July 1, 2026.