AN ACT relating to the taxation of currency and bullion currency and declaring an emergency.

This bill establishes that sales and use tax cannot legally be applied to currency or bullion currency (such as gold and silver coins) in Kentucky. It creates a violation if a state official publishes guidance instructing taxpayers to collect or remit that tax, and it gives taxpayers the right to sue for a refund, plus interest, attorney's fees, and $1,000 per day in damages. The law applies retroactively and took effect immediately upon passage. Who it may affect: Kentuckians who buy or sell currency or bullion, as well as businesses that collect sales tax on those transactions.

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