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CT SB01552
Bill
Status
4/2/2025
Primary Sponsor
Finance, Revenue and Bonding Committee
Click for details
AI Summary
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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
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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
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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
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Eliminates the $1,000 minimum purchase threshold for sales tax exemptions on precious metals, effective January 1, 2026
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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