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CT SB01552

Bill

Status

Introduced

4/2/2025

Primary Sponsor

Finance, Revenue and Bonding Committee

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Origin

Senate

2025 General Assembly

AI Summary

  • Establishes a Connecticut precious metals working group to monitor economic conditions, inflation expectations, precious metals prices and market activities, and precious metals legislation in other states

  • Working group membership includes General Assembly members designated by relevant committee chairs, the State Treasurer or designee, and additional experts such as economists, bankers, and precious metals investors

  • Requires the working group to submit annual reports starting in 2026 to legislative committees on banking, finance, revenue and bonding, and commerce with findings and recommendations

  • Eliminates the $1,000 minimum purchase threshold for sales tax exemptions on precious metals, effective January 1, 2026

  • Expands tax-exempt precious metals to include rare/antique coins, gold and silver bullion (minimum 90% purity), palladium bullion, platinum, and gold/silver legal tender traded by precious metal value

Legislative Description

An Act Establishing A Connecticut Precious Metals Working Group And Concerning The Sales And Use Taxes Exemption For Certain Coins, Bullion And Legal Tender.

Last Action

File Number 853

5/8/2025

Committee Referrals

Finance, Revenue and Bonding4/2/2025

Full Bill Text

No bill text available