This bill modifies the tax preferences related to precious metal bullion and monetized bullion by repealing RCW 82.04.062, which previously excluded the sale of these items from the definitions of "sale at wholesale" and "sale at retail." The repeal aims to update the tax framework governing these transactions, reflecting a shift in policy regarding how precious metals are taxed.

Additionally, the bill includes provisions that ensure the repeal does not impact any existing rights, liabilities, or obligations that were established under the previous statute, nor does it affect any ongoing legal proceedings related to it. The new law is set to take effect on October 1, 2025.