SF 2193

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; sales and use; exempting sales 
  1.3             of investment coins and bullion; amending Minnesota 
  1.4             Statutes 2000, section 297A.67, by adding a 
  1.5             subdivision. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2000, section 297A.67, is 
  1.8   amended by adding a subdivision to read: 
  1.9      Subd. 26.  [INVESTMENT COINS AND BULLION.] Investment coins 
  1.10  and bullion are exempt.  For purposes of this subdivision, the 
  1.11  following terms have the meanings given them. 
  1.12     (1) "Investment coins" means numismatic coins or other 
  1.13  forms of money and legal tender manufactured of gold, silver, 
  1.14  platinum, palladium, or other metal and issued by the United 
  1.15  States government or a foreign government with a fair market 
  1.16  value greater than the face value of the coins. 
  1.17     (2) "Bullion" means gold, silver, or platinum in a bulk 
  1.18  state, where its value depends on its content rather than its 
  1.19  form, with a purity of not less than 900 parts per 1,000. 
  1.20     [EFFECTIVE DATE.] This section is effective for sales and 
  1.21  purchases made after June 30, 2001.