SF373 Summary

• Expands the sales and use tax exemption in Minnesota Statutes 2022, section 297A.67, subdivision 34, to include coins and currency in addition to precious metal bullion.

• Defines "bullion" as bars, ingots, or commemorative medallions of gold, silver, platinum, palladium, rhodium, or combinations thereof where the metal's value depends on content and not form.

• Defines "coins" and "currency" as coins or currency made of gold, silver, other metal, or paper that is or has been used as legal tender.

• Maintains existing exemption restrictions that do not apply to sales and purchases of jewelry, works of art, or scrap metal.

• Effective for sales and purchases made after June 30, 2023.