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Committee approves plan allowing some miners to pay state taxes in gold; bill advances 6–4
Summary
A House committee adopted a first substitute and voted 6–4 to favorably recommend HB 528, which lets qualifying in-state precious-metal producers pay certain state taxes in investment-grade gold and receive tax credits intended to spur critical-mineral production.
A House committee on March 3 adopted a first substitute and voted 6–4 to favorably recommend House Bill 528, a measure that would allow qualifying precious-metals producers to pay specified state tax obligations in investment-grade gold and receive tax credits intended to incentivize mining activity tied to critical minerals.
Representative Ivory, the bill sponsor, told the committee HB 528 emerged from a study group and is intended to “build an income stream in precious metals” and help attract mining activity that can co-locate production of critical minerals. Ivory said the first substitute delays the bill’s effective date to Jan. 1, 2027, to give operators time to prepare and to reduce the immediate fiscal impact.
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