Tennessee Transactional Gold and Silver Act
Amends TCA Title 9, Chapter 4.
Tennessee HB2427, titled the "Tennessee Transactional Gold and Silver Act," recognizes gold and silver as legal tender for private transactions and allows their use for paying state and local taxes or fees. The bill affects individuals and businesses engaging in transactions involving gold and silver, and key provisions include the establishment of a secure bullion depository, an electronic payment system to facilitate these transactions, and an exemption of gold and silver transactions from state and local taxation.
Tennessee HB2427, titled the "Tennessee Transactional Gold and Silver Act," recognizes gold and silver as legal tender for private transactions and allows their use for paying state and local taxes or fees. The bill affects individuals and businesses engaging in transactions involving gold and silver, and key provisions include the establishment of a secure bullion depository, an electronic payment system to facilitate these transactions, and an exemption of gold and silver transactions from state and local taxation.
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