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MD SB1017

Bill

Official Source

Status

Introduced

2/14/2025

Primary Sponsor

Johnny Mautz

Click for details

Origin

Senate

2025 Regular Session

AI Summary

  • Removes the $1,000 minimum purchase threshold for sales tax exemption on precious metal bullion and coins, making all such sales exempt regardless of amount
  • Precious metal bullion and coins include refined precious metals valued by metal content and monetized bullion/coins used as legal tender by any state, the U.S., or foreign nations
  • Jewelry and artwork made from precious metals remain excluded from the exemption
  • Effective date: July 1, 2025
  • Introduced by Senator Mautz and assigned to the Rules Committee

Legislative Description

Sales and Use Tax - Precious Metal Bullion or Coins - Exemption

Exemptions

Last Action

First Reading Senate Rules

2/14/2025

Committee Referrals

Rules2/14/2025

Full Bill Text

No bill text available