Alaska 34th Alaska State Legislature Status: Enacted Bipartisan · 22 R · 1 D cosponsors

HB 1 — An Act relating to specie as legal tender in the state; and relating to borough and city sales and use taxes on specie.

Last action — (H) EFFECTIVE DATE(S) OF LAW 8/28/26

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 22, 2025. Enacted.

Signed by Governor Mike Dunleavy (Republican) on June 04, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 98% · high confidence

  • Enacted

    Current position in the legislative process.

  • 26 sponsors

    1 primary, 25 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (22 R · 1 D) — cross-party backing.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill addresses the use of specie as legal tender and its taxation by local governments.

This bill establishes rules for using specie, such as gold and silver, as legal tender in the state. It also clarifies how boroughs and cities can impose sales and use taxes on transactions involving specie.

What this means for you
  • Consumers: This bill allows you to use precious metal coins as legal payment options for transactions.
  • Small Business: If you accept specie, be aware of the local sales and use tax regulations that may apply.

Bill Text

What changed in the latest version

73 added · 72 removed

Plain-language change summary

The amendment to Bill HB 1 specifies that boroughs cannot charge a sales or use tax on the gold or silver contained in "specie" during its sale or exchange. This change is significant because it clarifies that transactions involving precious metals will be exempt from local taxes, which could encourage more people to transact with these forms of currency and potentially boost the local economy. The update also maintains that this rule applies to both home rule and general law municipalities, ensuring a consistent approach across various local governments.

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34-LS0001\A HOUSE BILL NO.
LAWS OF ALASKA Source Chapter No.
1 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - SECOND SESSION BY REPRESENTATIVES MCCABE, Underwood, Johnson, Rauscher, Moore, Tilton, Tomaszewski, Prax, Coulombe, Ruffridge, Elam, Bynum, Stutes, Vance, St.
CSHB 1(STA) _______ AN ACT Relating to specie as legal tender in the state;
Clair, D.Nelson, Costello, Foster, G.Nelson, Schwanke, Kopp Introduced:
and relating to borough and city sales and use taxes on specie.
1/22/25 Referred:
_______________ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
State Affairs, Finance A BILL FOR AN ACT ENTITLED "An Act relating to specie as legal tender in the state;
THE ACT FOLLOWS ON PAGE 1 Enrolled HB 1 AN ACT Relating to specie as legal tender in the state;
and relating to borough and city sales and use taxes on specie." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
and relating to borough and city sales and use taxes on specie.
* Section 1.
_______________ * Section 1.
A borough may wholly or partially exempt a source from a borough sales HB0001a -1- HB 1 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0001\A tax that is taxed by a city in that borough under AS 29.45.700.
A borough may wholly or partially exempt a source from a borough sales -1- Enrolled HB 1 tax that is taxed by a city in that borough under AS 29.45.700.
(m) A borough may not levy or collect a sales or use tax on the sale or exchange of specie.
(m) A borough may not levy or collect a sales or use tax on the value of the gold or silver contained within specie during the sale or exchange of specie.
(i) A city may not levy or collect a sales or use tax on the sale or exchange of specie.
(i) A city may not levy or collect a sales or use tax on the value of the gold or silver contained within specie during the sale or exchange of specie.
(2) a foreign government if, at the time of a sale or exchange, the foreign government considers the specie legal tender and the foreign government is (A) recognized by the United States Department of State as being the legitimate government of a country whose existence is recognized by the United States and has not been designated as a foreign adversary under federal law or regulation;
(2) a foreign government if, at the time of a sale or exchange, the foreign government considers the specie legal tender and the foreign government is (A) recognized by the United States Department of State as being the legitimate government of a country whose existence is recognized by the United States and that has not been designated as a foreign adversary under federal law or regulation;
(B) a subnational unit of a government described in (A) of this paragraph that is authorized by the laws of that government to issue its own currency;
(B) a subnational unit of a government described in (A) of this Enrolled HB 1 -2- paragraph that is authorized by the laws of that government to issue its own currency;
or HB 1 -2- HB0001a New Text Underlined [DELETED TEXT BRACKETED] 34-LS0001\A (C) an international currency union made up exclusively of countries described in (A) of this paragraph;
or (C) an international currency union made up exclusively of countries described in (A) of this paragraph;
(b) A person is not required to accept gold or silver specie as tender.
(b) A person or governmental entity is not required to accept gold or silver specie as tender.
The committee shall also study consumer protections and consumer behavior related to the sale and use of specie.
HB0001a -3- HB 1 New Text Underlined [DELETED TEXT BRACKETED]
-3- Enrolled HB 1
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Action History

  1. (H) EFFECTIVE DATE(S) OF LAW 8/28/26

  2. (H) LAW W/O GOV SIGNATURE 5/29 CHAPTER 6 SLA 26

  3. (H) MANIFEST ERROR(S)

  4. (H) 2:55 P.M. 5/13/26 Transmitted to Governor

  5. (S) VERSION: CSHB 1(STA)

  6. (S) RETURN TO (H), TRANSMIT TO GOV NEXT

  7. (S) CROSS SPONSOR(S): CRONK, BJORKMAN, YUNDT

  8. (S) PASSED Y19 N1

  9. (S) READ THE THIRD TIME CSHB 1(STA)

  10. (S) CROSS SPONSOR(S): RAUSCHER, TILTON

  11. (S) ADVANCED TO THIRD READING 5/12 CAL

  12. (S) READ THE SECOND TIME

  13. (S) RULES TO CALENDAR 5/11/2026

  14. (S) FIN REFERRAL WAIVED

  15. (S) FIN

  16. (S) READ THE FIRST TIME - REFERRALS

  17. (H) VERSION: CSHB 1(STA)

  18. (H) TRANSMITTED TO (S)

  19. (H) COSPONSOR(S): KOPP

  20. (H) PASSED Y40

  21. (H) READ THE THIRD TIME CSHB 1(STA)

  22. (H) ADVANCED TO THIRD READING UC

  23. (H) STA CS ADOPTED UC

  24. (H) READ THE SECOND TIME

  25. (H) RULES TO CALENDAR 5/7/2026

  26. (H) COSPONSOR REMOVED: STAPP

  27. (H) COSPONSOR REMOVED: ALLARD

  28. (H) FN4: ZERO(CED)

  29. (H) FN3: ZERO(ADM)

  30. (H) NR: GALVIN, HANNAN, SCHRAGE, JOSEPHSON

  31. (H) DNP: JIMMIE

  32. (H) DP: TOMASZEWSKI, STAPP, MOORE, BYNUM, FOSTER

  33. (H) FIN RPT CS(STA) 5DP 1DNP 4NR

  34. (H) Moved CSHB 1(STA) Out of Committee

  35. (H) FINANCE at 01:30 PM ADAMS 519

  36. (H) COSPONSOR(S): SCHWANKE

  37. (H) COSPONSOR(S): VANCE, ST. CLAIR, D.NELSON, COSTELLO, FOSTER, G.NELSON

  38. (H) COSPONSOR REMOVED: JIMMIE

  39. (H) FN2: ZERO(CED)

  40. (H) FN1: ZERO(ADM)

  41. (H) NR: STORY

  42. (H) DP: VANCE, MCCABE, MOORE, HOLLAND, HIMSCHOOT, CARRICK

  43. (H) STA RPT CS(STA) 6DP 1NR

  44. (H) Minutes (HSTA)

  45. (H) Moved CSHB 1(STA) Out of Committee -- Delayed to 15 min Following Session --

  46. (H) STATE AFFAIRS at 01:00 PM GRUENBERG 120

  47. (H) Minutes (HSTA)

  48. (H) Heard & Held -- Delayed to 4:15 pm--

  49. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  50. (H) Minutes (HSTA)

  51. (H) Heard & Held

  52. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  53. (H) COSPONSOR(S): JIMMIE, STUTES

  54. (H) COSPONSOR(S): ELAM, BYNUM

  55. (H) COSPONSOR(S): STAPP, TILTON, ALLARD, TOMASZEWSKI, PRAX, COULOMBE, RUFFRIDGE

  56. (H) Minutes (HSTA)

  57. (H) Heard & Held

  58. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  59. (H) COSPONSOR(S): MOORE

  60. (H) -- MEETING CANCELED --

  61. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  62. (H) COSPONSOR(S): RAUSCHER

  63. (H) STA, FIN

  64. (H) READ THE FIRST TIME - REFERRALS

  65. (H) Prefile released 1/10/25

Sponsors

Sponsorship breakdown

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1 sponsors · 25 co-sponsors · 39 not signed on · 1 voted No

Sponsors (1)

Co-sponsors (25)

Not signed on (39)

39 members have not signed on to this bill.

Show all 39 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading - Final Passage

Passed 19 Yea · 1 Nay
Party YeaNayPresentNot Voting
R 11000
D 8100
Total 19100
% of votes cast 95%5%0%0%
How each member voted (20)
Member Party Vote
Bill Wielechowski D Yea
Donald Olson D Yea
Elvi Gray-Jackson D Yea
Forrest Dunbar D Yea
Jesse Kiehl D Nay
Lyman Hoffman D Yea
Löki Tobin D Yea
Matt Claman D Yea
Scott Kawasaki D Yea
Bert Stedman R Yea
Cathy Giessel R Yea
Cathy Tilton R Yea
Gary Stevens R Yea
George Rauscher R Yea
James Kaufman R Yea
Jesse Bjorkman R Yea
Kelly Merrick R Yea
Mike Cronk R Yea
Robert Myers R Yea
Robert Yundt R Yea

Official roll call →

Third Reading — Final Passage

Passed 40 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 1000
D 14000
R 20000
N 5000
Total 40000
% of votes cast 100%0%0%0%
How each member voted (40)
Member Party Vote
Steve St. Clair — Yea
Andi Story D Yea
Andrew Gray D Yea
Andy Josephson D Yea
Ashley Carrick D Yea
Carolyn Hall D Yea
Donna Mears D Yea
Genevieve Mina D Yea
Maxine Dibert D Yea
Neal Foster D Yea
Nellie Unangiq Jimmie D Yea
Robyn Niayuq Frier D Yea
Sara Hannan D Yea
Ted Eischeid D Yea
Zack Fields D Yea
Alyse Galvin N Yea
Bryce Edgmon N Yea
Calvin Schrage N Yea
Ky Holland N Yea
Rebecca Himschoot N Yea
Bill Elam R Yea
Chuck Kopp R Yea
Dan Saddler R Yea
David Nelson R Yea
David Nelson R Yea
DeLena Johnson R Yea
Elexie Moore R Yea
Frank Tomaszewski R Yea
Jamie Allard R Yea
Jeremy Bynum R Yea
Jubilee Underwood R Yea
Julie Coulombe R Yea
Justin Ruffridge R Yea
Kevin McCabe R Yea
Louise Stutes R Yea
Mia Costello R Yea
Mike Prax R Yea
Rebecca Schwanke R Yea
Sarah Vance R Yea
Will Stapp R Yea

Official roll call →

Subjects

taxation finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 1?
HB 1 is sponsored by Robert Yundt (R), Jesse Bjorkman (R), Mike Cronk (R), Chuck Kopp (R), Rebecca Schwanke (R), G.Nelson, Neal Foster (D), Mia Costello (R), D.Nelson, St. Clair, Sarah Vance (R), Louise Stutes (R), Jeremy Bynum (R), Bill Elam (R), Justin Ruffridge (R), Julie Coulombe (R), Mike Prax (R), Frank Tomaszewski (R), Elexie Moore (R), DeLena Johnson (R), Jubilee Underwood (R), Kevin McCabe (R), Cathy Tilton (R), and George Rauscher (R).
What is the current status of HB 1?
This bill has been enacted into law. Introduced January 22, 2025. Enacted.
Where can I track HB 1?
Track HB 1 free on One Click Politics — get push/email alerts when it moves.

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