Alaska HB1 prohibits cities and boroughs from levying sales and use taxes on specie, defined as gold or silver coin or bullion.

Alaska HB1 amends state statutes to prohibit cities and boroughs from imposing sales and use taxes on the sale or exchange of specie, which is defined as gold or silver in the form of coin or bullion stamped with its weight and purity. This change applies to both home rule and general law municipalities. Specie is recognized as legal tender in Alaska if issued by the federal government, a foreign government recognized by the U.S. Department of State, or the state government under certain conditions.

Alaska HB1 prohibits cities and boroughs from levying sales and use taxes on specie, defined as gold or silver coin or bullion.

Alaska HB1 amends state statutes to prohibit cities and boroughs from imposing sales and use taxes on the sale or exchange of specie, which is defined as gold or silver in the form of coin or bullion stamped with its weight and purity. This change applies to both home rule and general law municipalities. Specie is recognized as legal tender in Alaska if issued by the federal government, a foreign government recognized by the U.S. Department of State, or the state government under certain conditions.