Washington HB2069 regulates the taxation of precious metal bullion and monetized bullion, clarifying their use as voluntary tender.

Washington HB2069 establishes specific provisions for contracts requiring payment in precious metal bullion or monetized bullion, while ensuring that the use of such bullion as tender remains voluntary. The bill defines "monetized bullion" and "precious metal bullion," clarifying that these forms of bullion do not include coins or money intended for jewelry or art. It also exempts precious metal bullion and monetized bullion from certain tax provisions, ensuring that exchanges of these bullions do not incur tax liabilities. The act takes effect July 1, 2025.

Washington HB2069 regulates the taxation of precious metal bullion and monetized bullion, clarifying their use as voluntary tender.

Washington HB2069 establishes specific provisions for contracts requiring payment in precious metal bullion or monetized bullion, while ensuring that the use of such bullion as tender remains voluntary. The bill defines "monetized bullion" and "precious metal bullion," clarifying that these forms of bullion do not include coins or money intended for jewelry or art. It also exempts precious metal bullion and monetized bullion from certain tax provisions, ensuring that exchanges of these bullions do not incur tax liabilities. The act takes effect July 1, 2025.