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Committee hears split testimony on repeal of precious‑metals tax preferences
Summary
House Bill 19-65 would repeal sales and B&O exemptions for dealers and purchasers of precious metals and bullion. Advocates called it a longstanding loophole and recommended repeal; coin‑industry representatives warned the change would hurt small investors and questioned the fiscal estimate.
House Bill 19-65, which would repeal business-and-occupation and retail-sales tax exemptions for purchases of precious metal bullion and monetized bullion, received divided testimony on Feb. 25.
Staff told the committee the proposal would eliminate the B&O and retail sales exemptions for certain bullion transactions; the Department of Revenue’s draft fiscal estimate suggested state revenue increases of roughly…
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