Vermont H 711: An act relating to energy audits

Bill Text

BILL AS INTRODUCED H.711
2026 Page 1 of 2

VT LEG #384985 v.1
H.711 1
Introduced by Representatives Burtt of Cabot, Branagan of Georgia, 2
Dobrovich of Williamstown, Hooper of Burlington, Labor of 3
Morgan, Morgan, L. of Milton, Pritchard of Pawlet, and 4
Tagliavia of Corinth 5
Referred to Committee on 6
Date: 7
Subject: Taxation; sales and use tax; sales tax exemption; precious metals 8
Statement of purpose of bill as introduced: This bill proposes to exempt sales 9
of precious metals purchased for investment from sales and use tax. 10
An act relating to a sales tax exemption for precious metals purchased for 11
investment 12
It is hereby enacted by the General Assembly of the State of Vermont: 13
Sec. 1. 32 V.S.A. § 9706 is amended to read: 14
§ 9706. STATUTORY PURPOSE 15
* * * 16
(pp) The statutory purpose of the exemption for precious metal bullion and 17
coins in subdivision 9741(57) of this title is to promote investment in gold and 18
silver. 19

BILL AS INTRODUCED H.711
2026 Page 2 of 2

VT LEG #384985 v.1
Sec. 2. 32 V.S.A. § 9741 is amended to read: 1
§ 9741. SALES NOT COVERED 2
Retail sales and use of the following shall be exempt from the tax on retail 3
sales imposed under section 9771 of this title and the use tax imposed under 4
section 9773 of this title: 5
* * * 6
(57) Precious metal bullion or coins. 7
(A) As used in this subdivision (57), “precious metal bullion or 8
coins” means personal property made of gold or silver that has undergone a 9
refining process and is in a state or condition in which the personal property’s 10
value is primarily determined by precious metal content. “Precious metal 11
bullion or coins” includes monetized bullion, coins, and other forms of money 12
manufactured from gold or silver and that have been used as a medium of 13
exchange under the laws of Vermont, the United States, or a foreign nation. 14
(B) As used in this subdivision (57), “precious metal bullion or 15
coins” does not mean jewelry, a work of art made from precious metal bullion 16
or coins, or precious metals that have been processed or manufactured for 17
industrial, professional, or artistic use. 18
Sec. 3. EFFECTIVE DATE 19
This act shall take effect on July 1, 2026. 20