EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*hb1169*
HOUSE BILL 1169
Q4 3lr1744
By: Delegates Fisher, Anderton, Chisholm, Grammer, Hartman, Hornberger,
McComas, Nawrocki, Schmidt, and Szeliga
Introduced and read first time: February 10, 2023
Assigned to: Ways and Means
A BILL ENTITLED
AN ACT concerning 1
Sales and Use Tax – Precious Metal Bullion or Coins – Exemption 2
FOR the purpose of expanding an exemption from the sales and use tax for the sale of 3
precious metal bullion or coins under certain circumstances; and generally relating 4
to a sales and use tax exemption for precious metal bullion and coins. 5
BY repealing and reenacting, with amendments, 6
Article – Tax – General 7
Section 11–214.1 8
Annotated Code of Maryland 9
(2022 Replacement Volume) 10
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 11
That the Laws of Maryland read as follows: 12
Article – Tax – General 13
11–214.1. 14
(a) In this section: 15
(1) “precious metal bullion or coins” means: 16
(i) any precious metal that has gone through a refining process and 17
is in a state or condition such that its value depends on its precious metal content and not 18
on its form; or 19
(ii) except as provided in paragraph (2) of this subsection, monetized 20
bullion, coins, or other forms of money that: 21
2 HOUSE BILL 1169
1. are manufactured from precious metals; and 1
2. are or have in the past been used as a medium of exchange 2
under the laws of the State, the United States, or a foreign nation; and 3
(2) “precious metal bullion or coins” does not include jewelry or a work of 4
art made of precious metal bullion or coins. 5
(b) The sales and use tax does not apply to a sale of precious metal bullion or coins 6
[if the sale price is greater than $1,000]. 7
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 8
1, 2023. 9