This bill aims to restore the tax exemptions for the sale of precious metals and bullion that were originally enacted in 1985. It reintroduces former RCW 82.04.062, which had been repealed in 2025, and establishes a new section in chapter 82.04 RCW. The new provisions clarify that sales of precious metal bullion and monetized bullion are not considered wholesale or retail sales for tax purposes. Additionally, the tax will only be imposed on commissions received from transactions, excluding deductions for salaries or commissions paid to employees.

The bill also defines "monetized bullion" and "precious metal bullion," specifying the types of metals and coins included under these terms. It explicitly states that certain existing laws (RCW 82.32.805 and 82.32.808) do not apply to this act and establishes that the act will be retroactive to January 1, 2026. The bill is deemed necessary for the immediate preservation of public peace, health, or safety, and it takes effect immediately upon passage.