Gov. Ron DeSantis signed a bill on Tuesday to recognize gold and silver as legal tender in Florida, and make them free from sales tax.
Under HB 999, gold and silver coins that meet specific purity standards can be used for payments, NBC affiliate WESH reports.
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WATCH HERE"So you're going to be able to conduct transactions" in these precious metals, DeSantis said at a news conference in Apopka.
The governor said the Sunshine State would be the largest to sign such legislation.
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State Rep. Bill Bankson from Apopka sponsored the bill. He said it aims to "eliminate the tax burden and make it a functional means of transaction between willing parties."
"Florida stands firmly for freedom, economic self-determination, and resistance to government overreach. But for too long, outdated regulations and unnecessary sales taxes have made it impractical for Floridians to enter the gold and silver market," the governor wrote in a post on X. "I signed HB 999 today to change that, by initiating the process to recognize gold and silver as legal tender in our state and, with rule ratification from the legislature, free from sales tax."
The new rules would have to be ratified by the state legislature. If lawmakers agree, the law would take effect on July 1, 2026.
