An Act relating to specie as legal tender in the state; and relating to borough and city sales and use taxes on specie.
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Progress
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- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies Alaska’s sales and use tax laws to address the use of ‘specie’ (gold and silver) as legal tender. It clarifies that boroughs and cities cannot tax the value of gold or silver within specie during sales or exchanges, and it updates definitions related to legal tender and specie within the state’s tax codes. The bill also directs the Legislative Budget and Audit Committee to study the feasibility of additional forms of legal tender and consumer protections related to specie.
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