Amends TCA Title 67, Chapter 6.
This bill exempts from sales and use tax the sale of all coins, currency, and bullion that are: (1) Manufactured in whole or in part from gold, silver, platinum, palladium, or other material; (2) Used solely as legal tender, security, or commodity in this or another state, the United States, or a foreign nation; and (3) Sold based on their intrinsic value as precious material or collectible items rather than their representative value as a medium of exchange. ON APRIL 27, 2022, THE HOUSE SUBSTITUTED SENATE BILL 1857 FOR HOUSE BILL 1874, ADOPTED AMENDMENT #1, AND PASSED SENATE BILL 1857, AS AMENDED. AMENDMENT #1 revises the criterion described above in (3) of the bill summary to refer to sales based "primarily" on intrinsic value as precious material or collectible items.
This bill exempts from sales and use tax the sale of all coins, currency, and bullion that are: (1) Manufactured in whole or in part from gold, silver, platinum, palladium, or other material; (2) Used solely as legal tender, security, or commodity in this or another state, the United States, or a foreign nation; and (3) Sold based on their intrinsic value as precious material or collectible items rather than their representative value as a medium of exchange. ON APRIL 27, 2022, THE HOUSE SUBSTITUTED SENATE BILL 1857 FOR HOUSE BILL 1874, ADOPTED AMENDMENT #1, AND PASSED SENATE BILL 1857, AS AMENDED. AMENDMENT #1 revises the criterion described above in (3) of the bill summary to refer to sales based "primarily" on intrinsic value as precious material or collectible items.
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