AlaskaHB 134th Legislature (2025-2026)HouseWALLET

SPECIE AS LEGAL TENDER

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Lower local taxes on gold and silver

Alaska boroughs and cities cannot charge sales or use tax on the metal value of qualifying gold or silver. This applies when the coins or bullion are sold or exchanged, including in home-rule municipalities. Qualifying items are valued mainly for their metal content and stamped with their weight and purity. The tax ban covers the metal value, not necessarily the full sale price. Other local sales taxes remain authorized.

Alaska recognizes voluntary gold and silver payments

Alaska recognizes qualifying gold and silver as legal tender—a way to pay debts—within constitutional limits. Federal coins or bullion qualify when the federal government treats them as legal tender. Foreign coins or bullion must be legal tender when sold or exchanged. Eligible foreign governments must be recognized by the U.S. Department of State and not designated foreign adversaries. Authorized local currency issuers and currency unions made up only of eligible countries also qualify. State-designated gold or silver requires a final, unappealable court ruling confirming Alaska's authority, plus state recognition as legal tender. No person, business, or government must accept these payments. The Legislative Budget and Audit Committee must study additional payment forms for state debts, including taxes, and draft legislation if practical and beneficial.

Sponsors & Cosponsors

Sponsor

Kevin McCabe
Republican • House

Cosponsors

Jesse Bjorkman
Republican • Senate
Jeremy Bynum
Republican • House
Mia Costello
Republican • House
Julie Coulombe
Republican • House
Mike Cronk
Republican • Senate
David Nelson
Republican • House
Bill Elam
Republican • House
Neal Foster
Democratic • House
Garret Nelson
Republican • House
DeLena Johnson
Republican • House
Chuck Kopp
Republican • House
Elexie Moore
Republican • House
Mike Prax
Republican • House
George Rauscher
Republican • Senate
Justin Ruffridge
Republican • House
Rebecca Schwanke
Republican • House
Steve St. Clair
Republican • House
Louise Stutes
Republican • House
Cathy Tilton
Republican • Senate
Frank Tomaszewski
Republican • House
Jubilee Underwood
Republican • House
Sarah Vance
Republican • House
Robert Yundt
Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 19 • No: 1

Senate vote • 5/12/2026

PASSED Y19 N1