HB 394 Summary

• Amends section 5739.02 of the Revised Code to add a new exemption from Ohio's 5.5% sales and use tax for sales of investment metal bullion and investment coins.

• Defines "investment metal bullion" as elementary precious metals (gold, silver, platinum, palladium) that have been smelted or refined and whose value depends on metal content rather than form, excluding fabricated metals for industrial, professional, or artistic uses.

• Defines "investment coins" as numismatic coins or legal tender made of precious metals under U.S. or foreign law with fair market value exceeding their statutory or nominal value.

• Exemption becomes effective on the first day of the first month after the bill's effective date.