AR HB1630

Amends Arkansas Code to add Section 4-56-106, requiring Arkansas courts to order specific performance (delivery of the exact precious metals specified) as the remedy for breaches of contracts that include gold or silver coins or bullion as consideration.

Defines "bullion" as bars or ingots manufactured in whole or in part of gold or silver that were used as medium of exchange, security, or commodity by any state, the U.S. Government, or foreign nation, and sold based on intrinsic value rather than form.

Defines "coin" as coins manufactured in whole or in part of gold or silver used as medium of exchange, security, or commodity by any state, the U.S. Government, or foreign nation, and sold based on intrinsic value rather than form.

Prohibits anyone from compelling another person to tender or accept coins or bullion as legal tender unless specifically provided by law or contract.

Amends Arkansas Code Section 26-51-815 to exempt gains from the sale of coins or bullion meeting the specified definitions from Arkansas income tax, effective for tax years beginning January 1, 2023 or later.