An Act relating to specie as legal tender in the state; and relating to borough and city sales and use taxe...
Consumers may benefit from not having to pay sales taxes on gold or silver purchases.
Do you support it?
Want to know if it passes?
We'll email you when SB 162 moves — a committee vote, a floor vote, or a signature. Nothing else.
Free forever · unsubscribe in one click.
Your answer was recorded either way.
Which district are you in?
Your ZIP is all we need to match you to your own representatives — so we can tell you how they voted on SB 162.
You're tracking SB 162
We'll email you the moment it moves.
SB 162 — 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 — (S) COSPONSOR(S): RAUSCHER
No card. One bill, free forever — alerts when it moves.
-
✓Introduced
-
2In Committee
-
3Passed Senate
-
4Passed House
-
5To Executive
-
6Enacted
This bill is in committee in the Senate. Introduced April 09, 2025. It must pass committee before a floor vote.
Next likely step: a committee vote, then a floor vote in the Senate.
Prognosis
Where this bill stands today.
Odds of enactment
LowHow often bills like it became law.
-
In Committee
Current position in the legislative process.
-
2 sponsors
1 primary, 1 co-sponsors signed on.
-
Single-party support
Sponsorship is currently within one party (2 R).
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
In plain language
The bill establishes rules regarding the use of gold and silver as legal tender in Alaska.
This bill amends Alaska law to clarify that gold and silver can be used as legal tender. It prohibits boroughs and cities from taxing the value of gold or silver when it is sold or exchanged as specie.
What this means for you
- Workers: This bill could affect workers who deal in gold or silver transactions as these trades would be exempt from taxation.
- Consumers: Consumers may benefit from not having to pay sales taxes on gold or silver purchases.
Bill Text
What changed in the latest version
60 added · 65 removedPlain-language change summary
The recent amendment to SB 162 removes references to taxing the value of gold or silver in transactions involving "specie," which is defined as certain forms of currency. Now, both boroughs and cities cannot impose sales or use taxes on the sale or exchange of specie at all. This change simplifies the tax structure and could encourage more transactions involving these forms of currency, making it easier for individuals and businesses to carry out their exchanges without the burden of additional taxes.
34-LS0873\N34-LS0873\A CS FOR SENATE BILL NO.
162(STA)162 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - SECOND SESSION BY THESENATORS SENATECRONK, STATERauscher AFFAIRSIntroduced: COMMITTEE Referred:
Finance4/9/25 Sponsor(s):Referred:
SENATORSState CRONK,Affairs, RauscherFinance A BILL FOR AN ACT ENTITLED "An Act relating to specie as legal tender in the state;
A borough may wholly or partially exempt a source from a borough sales SB0162BSB0162A -1- CSSBSB 162(STA)162 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0873\N34-LS0873\A 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 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 value of the gold or silver contained within specie during the sale or exchange of specie.
(B) a subnational unit of a government described in (A) of this CSSB 162(STA) -2- SB0162B New Text Underlined [DELETED TEXT BRACKETED] 34-LS0873\N paragraph that is authorized by the laws of that government to issue its own currency;
or SB 162 -2- SB0162A New Text Underlined [DELETED TEXT BRACKETED] 34-LS0873\A (C) an international currency union made up exclusively of countries described in (A) of this paragraph;
(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.
SB0162BSB0162A -3- CSSBSB 162(STA)162 New Text Underlined [DELETED TEXT BRACKETED]
AI-generated reading aid from the bill's amendatory text — verify against the official bill.
The bill establishes definitions and restrictions regarding the use of specie as legal tender and exempts it from local sales and use taxes.
-
AS 29.45.650
(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. This subsection applies to home rule and general law municipalities. In this subsection, "specie" has the meaning given in AS 44.12.400(d).
Boroughs are prohibited from taxing gold or silver within specie during its sale or exchange.
-
AS 29.45.700
(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. This subsection applies to home rule and general law municipalities. In this subsection, "specie" has the meaning given in AS 44.12.400(d).
Cities are prohibited from taxing gold or silver within specie during its sale or exchange.
-
AS 44.12.400
Legal tender. (a) To the fullest extent allowed by art. I, sec. 10, clause 1, of the Constitution of the United States, legal tender in the state includes specie issued by (1) the federal government at any time if the federal government considers the specie legal tender; (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; (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; or (C) an international currency union made up exclusively of countries described in (A) of this paragraph; or (3) the state government if (A) a court of competent jurisdiction, by final and unappealable order, ruled the specie to be within state authority to designate as legal tender; and (B) the state government considers the specie legal tender.
Defines legal tender in Alaska to include various forms of specie and establishes criteria for acceptance.
-
AS 44.12.400
(b) A person or governmental entity is not required to accept gold or silver specie as tender.
Clarifies that there is no obligation to accept gold or silver specie in transactions.
-
AS 44.12.400
(c) The Legislative Budget and Audit Committee shall study the possibility of establishing additional forms of legal tender for the payment of debts, including public charges, taxes, and other money owed to the state. The committee shall also study consumer protections and consumer behavior related to the sale and use of specie. If the committee determines that additional forms of tender are practical and beneficial, the committee shall prepare legislation establishing an additional form of legal tender for introduction.
Creates a mandate for a study related to the establishment of additional legal tender forms and their implications.
-
AS 44.12.400
(d) In this section, (1) "legal tender" means a recognized medium of exchange for the payment of debts; (2) "specie" means gold or silver valued primarily based on its metal content and in the form of (A) coin; or (B) bullion that is stamped or imprinted with its weight and purity.
Provides definitions for key terms related to legal tender and specie.
Action History
-
(S) COSPONSOR(S): RAUSCHER
-
(S) Minutes (SFIN)
-
(S) Moved CSSB 162(STA) Out of Committee
-
(S) FINANCE at 09:00 AM SENATE FINANCE 532
-
(S) REFERRED TO RULES
-
(S) FN2: ZERO(ADM)
-
(S) FN1: ZERO(CED)
-
(S) NR: STEDMAN, MERRICK, KIEHL
-
(S) DP: HOFFMAN, KAUFMAN, CRONK
-
(S) FIN RPT CS(STA) 3DP 3NR
-
(S) Heard & Held
-
(S) FINANCE at 09:00 AM SENATE FINANCE 532
-
(S) FN2: ZERO(ADM)
-
(S) FN1: ZERO(CED)
-
(S) DP: GRAY-JACKSON, BJORKMAN, TILTON
-
(S) NR: KAWASAKI, WIELECHOWSKI
-
(S) STA RPT CS 2NR 3DP SAME TITLE
-
(S) Moved CSSB 162(STA) Out of Committee
-
(S) STATE AFFAIRS at 03:30 PM BELTZ 105 (TSBldg)
-
(S) Heard & Held
-
(S) STATE AFFAIRS at 03:30 PM BELTZ 105 (TSBldg)
-
(S) Heard & Held
-
(S) STATE AFFAIRS at 03:30 PM BELTZ 105 (TSBldg)
-
(S) STA, FIN
-
(S) READ THE FIRST TIME - REFERRALS
Sponsors
- Mike Cronk · Primary
- George Rauscher · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 1 co-sponsors · 63 not signed on
Sponsors (1)
Co-sponsors (1)
Not signed on (63)
63 members have not signed on to this bill.
Show all 63 →"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.
Subjects
Frequently asked questions
- Who sponsors SB 162?
- SB 162 is sponsored by Mike Cronk (R) and George Rauscher (R).
- What is the current status of SB 162?
- This bill is in committee in the Senate. Introduced April 09, 2025. It must pass committee before a floor vote.
- Where can I track SB 162?
- Track SB 162 free on One Click Politics — get push/email alerts when it moves.
Make your voice heard on SB 162
Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.
Stay ahead of SB 162
Last checked for changes 3 months ago · updated continuously
One Click Politics tracks every bill in Congress and all 50 states.
Track this bill →