SB99
Log in to followAN ACT relating to transactional precious metals.
Create a new section of KRS Chapter 41 to define terms; recognize gold specie and silver specie as legal tender in Kentucky; provide for use of gold specie and silver specie as legal tender; require the State Treasurer to promulgate administrative regulations in accordance with KRS Chapter 13A to designate or establish a bullion depository and authorize 1 or more electronic payment systems to facilitate electronic payment transactions; establish requirements for system participants, transaction information, and bullion deposits; require the State Treasurer to submit an annual report to the Legislative Research Commission and to implement the system within 1 year; amend KRS 141.109 and 141.039 to exempt capital gains and losses attributable to the sale or exchange of gold specie and silver specie; provide that Section 1 of the Act may be cited as the Kentucky Transactional Gold and Silver Act.
Introduced: January 15, 2026
Last action: January 15, 2026
Plain-language summary
This bill would officially recognize gold and silver coins as legal tender in Kentucky, meaning they could be used to pay for goods and services alongside regular currency. It would require the State Treasurer to set up a bullion depository and electronic payment system to make these transactions practical, and it would exempt any financial gains or losses from selling gold or silver coins from Kentucky state taxes. Who it may affect: Kentucky residents who own or trade gold and silver, taxpayers reporting investment gains, and businesses that may choose to accept precious metals as payment.
Legislative History
Primary Sponsor
Co-sponsors (4)
