AlaskaAlaska recognizes certain gold and silver as legal tender
Alaska recognizes certain gold and silver as legal tender, while boroughs and cities may not tax its metal value during a sale or exchange.
What it does
Boroughs and cities may not tax the gold or silver value of specie during its sale or exchange. The rule covers the metal value contained in the specie.
Alaska recognizes certain federal, foreign, and state-issued gold or silver as legal tender. People and governments still do not have to accept it as payment.
The Legislative Budget and Audit Committee must study other ways to pay money owed to the state and consumer protections around specie. If it finds another payment form practical and beneficial, it must prepare a bill for introduction.
Argument forBuyers and sellers could avoid local taxes on specie’s gold or silver value, and have clearer rules for when certain specie counts as legal tender.
Argument againstPeople may assume gold or silver specie will be accepted for payments, though the law says no person or government has to accept it.
More detail
Boroughs and cities may not tax the gold or silver value of specie during its sale or exchange. It applies to home rule and general law boroughs and cities. The rule bars tax on the gold or silver value contained in the specie during its sale or exchange. The enrolled text states that the law takes effect on August 28, 2026.
Alaska recognizes certain specie as legal tender, a recognized way to pay debts. Specie means gold or silver valued mainly for its metal content, in coin form or as bullion marked with its weight and purity. Federal specie qualifies when the federal government considers it legal tender. Foreign specie qualifies only while its government considers it legal tender and meets the listed U.S. recognition and eligibility rules. State-issued specie qualifies only after a final, unappealable court order says the state has authority to designate it as legal tender and the state considers it legal tender. No person or government has to accept gold or silver specie as payment. The state-issued option applies only after a final, unappealable court order confirms the state may designate that specie as legal tender.
The Legislative Budget and Audit Committee must study additional ways to pay debts owed to the state and consumer protections and behavior related to specie. The study covers public charges, taxes, and other money owed to the state, along with consumer protections and behavior related to specie. If the committee finds another form of payment practical and beneficial, it must prepare legislation to establish it for introduction.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 4(H) EFFECTIVE DATE(S) OF LAW 8/28/26Latest
- Jun 4(H) LAW W/O GOVERNOR SIGNATURE 5/29 CHAPTER 6 SLA 26Major
- May 13(H) MANIFEST ERROR(S)
- May 13(H) 2:55 P.M. 5/13/26 Transmitted to GovernorTo Governor
- May 12(S) VERSION: CSHB 1(STA)
- Vote recorded (S) PASSED Y19 N1 #2602. Result: pass.Upper
- May 12(S) RETURN TO (H), TRANSMIT TO GOVERNOR NEXT
- May 12(S) CROSS SPONSOR(S): CRONK, BJORKMAN, YUNDT
- May 12(S) PASSED Y19 N1Major
- May 12(S) READ THE THIRD TIME CSHB 1(STA)Minor
- May 11(S) CROSS SPONSOR(S): RAUSCHER, TILTON
- May 11(S) ADVANCED TO THIRD READING 5/12 CALMinor
- May 11(S) READ THE SECOND TIMEMinor
- May 11(S) RULES TO CALENDAR 5/11/2026
- May 8(S) FIN REFERRAL WAIVED UC
- May 8(S) FIN
- May 8(S) READ THE FIRST TIME - REFERRALSMinor
- May 7(H) VERSION: CSHB 1(STA)
- Vote recorded (H) PASSED Y40 #2441. Result: pass.Lower
- May 7(H) TRANSMITTED TO (S)Passed Senate
- May 7(H) COSPONSOR(S): KOPP
- May 7(H) PASSED Y40Passed House
- May 7(H) READ THE THIRD TIME CSHB 1(STA)Minor
- May 7(H) ADVANCED TO THIRD READING UCMinor
- May 7(H) STA CS ADOPTED UC
- May 7(H) READ THE SECOND TIMEMinor
- May 7(H) RULES TO CALENDAR 5/7/2026
- May 6(H) COSPONSOR REMOVED: STAPP
- May 1(H) COSPONSOR REMOVED: ALLARD
- May 1(H) FN4: ZERO(CED)
- May 1(H) FN3: ZERO(ADM)
- May 1(H) NR: GALVIN, HANNAN, SCHRAGE, JOSEPHSON
- May 1(H) DNP: JIMMIE
- May 1(H) DP: TOMASZEWSKI, STAPP, MOORE, BYNUM, FOSTER
- May 1(H) FIN RPT CS(STA) 5DP 1DNP 4NR
- Apr 30(H) Minutes (HFIN)
- Apr 30(H) Moved CSHB 1(STA) Out of Committee
- Apr 30(H) FINANCE at 01:30 PM ADAMS 519
- Mar 27(H) COSPONSOR(S): SCHWANKE
- Mar 25(H) COSPONSOR(S): VANCE, ST. CLAIR, D.NELSON, COSTELLO, FOSTER, G.NELSON
- 2025
- May 18(H) COSPONSOR REMOVED: JIMMIE
- May 18(H) FN2: ZERO(CED)
- May 18(H) FN1: ZERO(ADM)
- May 18(H) NR: STORY
- May 18(H) DP: VANCE, MCCABE, MOORE, HOLLAND, HIMSCHOOT, CARRICK
- May 18(H) STA RPT CS(STA) 6DP 1NR
- May 17(H) Minutes (HSTA)
- May 17(H) Moved CSHB 1(STA) Out of Committee -- Delayed to 15 min Following Session --
- May 17(H) STATE AFFAIRS at 01:00 PM GRUENBERG 120
- May 15(H) Minutes (HSTA)
- May 15(H) Heard & Held -- Delayed to 4:15 pm--
- May 15(H) STATE AFFAIRS at 03:15 PM GRUENBERG 120
- May 8(H) Minutes (HSTA)
- May 8(H) Heard & Held
- May 8(H) STATE AFFAIRS at 03:15 PM GRUENBERG 120
- May 7(H) COSPONSOR(S): JIMMIE, STUTES
- May 2(H) COSPONSOR(S): ELAM, BYNUM
- Apr 30(H) COSPONSOR(S): STAPP, TILTON, ALLARD, TOMASZEWSKI, PRAX, COULOMBE, RUFFRIDGE
- Apr 29(H) Minutes (HSTA)
- Apr 29(H) Heard & Held
- Apr 29(H) STATE AFFAIRS at 03:15 PM GRUENBERG 120
- Apr 28(H) COSPONSOR(S): MOORE
- Apr 15(H) -- MEETING CANCELED --
- Apr 15(H) STATE AFFAIRS at 03:15 PM GRUENBERG 120
- Jan 31(H) COSPONSOR(S): RAUSCHER
- Jan 22(H) STA, FIN
- Jan 22(H) READ THE FIRST TIME - REFERRALSMinor
- Jan 22(H) Prefile released 1/10/25Introduced
Taxes & BudgetEconomy & Jobs