SB0309 • 2026

Sales and Use Tax - Precious Metal Bullion or Coins - Exemption

Budget Taxes

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Senators Jennings , Bailey , McCray , Salling , Mautz , and Ready
Last action: 2026-05-26
Official status: Approved by the Governor - Chapter 730
Effective date: 2026-07-01

Plain English Breakdown

The official source material does not provide information on expanding the definition of precious metal bullion or coins, nor does it mention removing the requirement for a minimum sale price. These claims were removed as they are unsupported by the provided text.

Tax Exemption for Precious Metal Bullion and Coins

This law removes the requirement that precious metal bullion or coins must be sold at the Baltimore Convention Center to qualify for a sales tax exemption.

What This Bill Does

Removes the condition that precious metal bullion or coins must be sold at the Baltimore Convention Center to get an exemption from sales and use taxes.

Who It Names or Affects

People who buy or sell precious metal bullion or coins in Maryland.

Terms To Know

precious metal bullion or coins: Items made of gold, silver, platinum, etc., that are not jewelry or art pieces and whose value mainly comes from their metal content.

Limits and Unknowns

The law only changes the conditions for tax exemptions related to precious metals sold in Maryland.
It does not change other taxes or regulations on these items.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

133321/1

None

Favorable with Amendments { 133321/1 Adopted

Plain English: AMENDMENTS TO SENATE BILL 309 (Third Reading File Bill) AMENDMENT NO.

AMENDMENTS TO SENATE BILL 309 (Third Reading File Bill) AMENDMENT NO.
1 On page 1, strike beginning with the second “the” in line 3 down through the first “of” in line 4; in line 5, strike “; expanding the exemption”; in the same line, strike “requirements” and substitute “ a requirement”; and strike beginning with the second “the” in line 5 down through “and” in line 6.
AMENDMENT NO.
2 On page 2, in line 3, strike “ PRIMARILY”; in line 13, strike the bracket; strike beginning with the colon in line 1 3 down through “(1)” in line 14; and strike beginning with the semicolon in line 14 down through the bracket in line 15.

433028/1

None

Favorable with Amendments { 433028/1

Plain English: AMENDMENT TO SENATE BILL 309 (First Reading File Bill) On page 1, in the sponsor line, strike “ Senator Jennings” and substitute “Senators Jennings, Bailey, McCray, and Salling”.

AMENDMENT TO SENATE BILL 309 (First Reading File Bill) On page 1, in the sponsor line, strike “ Senator Jennings” and substitute “Senators Jennings, Bailey, McCray, and Salling”.
SB0309/433028/1 BY: Budget and Taxation Committee

773626/1

None • Senator Mautz

Floor Amendment { 773626/1 (Senator Mautz) Adopted

Plain English: AMENDMENT TO SENATE BILL 309, AS AMENDED In line 2 of the Budget and Taxation Committee Amendment (SB0309/433028/1) strike “and Salling” and substitute “Salling, Mautz, and Ready”.

AMENDMENT TO SENATE BILL 309, AS AMENDED In line 2 of the Budget and Taxation Committee Amendment (SB0309/433028/1) strike “and Salling” and substitute “Salling, Mautz, and Ready”.
SB0309/773626/1 BY: Senator Mautz

Bill History

2026-05-26 Post Passage
Approved by the Governor - Chapter 730
2026-04-09 House
Favorable with Amendments Report by Ways and Means
2026-03-26 House
Third Reading Passed (133-0)
2026-03-25 House
Hearing 4/02 at 1:00 p.m.
2026-03-24 Senate
Senate Concurs House Amendments
2026-03-24 Senate
Third Reading Passed (42-0)
2026-03-24 Senate
Passed Enrolled
2026-03-23 House
Favorable with Amendments { 133321/1 Adopted
2026-03-23 House
Motion Special Order until Later This Session (Delegate Grammer) Adopted
2026-03-23 House
Second Reading Passed with Amendments
2026-03-16 Senate
Favorable with Amendments Report by Budget and Taxation
2026-03-09 House
Referred Ways and Means
2026-03-05 Senate
Third Reading Passed (42-0)
2026-03-03 Senate
Favorable with Amendments { 433028/1 Adopted
2026-03-03 Senate
Floor Amendment { 773626/1 (Senator Mautz) Adopted
2026-03-03 Senate
Second Reading Passed with Amendments
2026-02-28 Senate
Favorable with Amendments { 433028/1
2026-02-28 Senate
Motion Special Order until 3/17 (Senator Mautz) Adopted
2026-01-22 Senate
Hearing 1/28 at 1:00 p.m.
2026-01-21 Senate
First Reading Budget and Taxation
Maryland General Assembly
Text - First - Sales and Use Tax - Precious Metal Bullion or Coins - Exemption
Maryland General Assembly
Vote - Senate - Committee - Budget and Taxation
Maryland General Assembly
Text - Third - Sales and Use Tax - Precious Metal Bullion or Coins - Exemption
Maryland General Assembly
Vote - House - Committee - Ways and Means
Maryland General Assembly
Text - Enrolled - Sales and Use Tax - Precious Metal Bullion or Coins - Exemption
Maryland General Assembly
Text - Chapter - Sales and Use Tax - Precious Metal Bullion or Coins - Exemption

Official Summary Text

Altering eligibility for an exemption from the sales and use tax for the sale of precious metal bullion or coins by repealing a requirement that the sale occur at the Baltimore Convention Center.

Current Bill Text

Read the full stored bill text

EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
Italics indicate opposite chamber/conference committee amendments.
*sb0309*

SENATE BILL 309
Q4 (6lr2593)
ENROLLED BILL
— Budget and Taxation/Ways and Means —
Introduced by Senator Jennings Senators Jennings, Bailey, McCray, and Salling
Salling, Mautz, and Ready

Read and Examined by Proofreaders:

_______________________________________________
Proofreader.
_______________________________________________
Proofreader.

Sealed with the Great Seal and presented to the Governor, for his ap proval this

_______ day of _______________ at ________________________ o’clock, ________M.

______________________________________________
President.

CHAPTER ______

AN ACT concerning 1

Sales and Use Tax – Precious Metal Bullion or Coins – Exemption 2

FOR the purpose of altering the definition of “precious metal bullion or coins” for purposes 3
of eligibility for an exemption from the sales and use tax for the sale of precious metal 4
bullion or coins; expanding the exemption by repealing requirements a requirement 5
that the sale price exceed a certain amount and the sale occur at the Baltimore 6
Convention Center; and generally relating to a sales and use tax exemption for 7
precious metal bullion and coins. 8

BY repealing and reenacting, with amendments, 9
Article – Tax – General 10
Section 11–214.1 11
Annotated Code of Maryland 12
(2022 Replacement Volume and 2025 Supplement) 13
2 SENATE BILL 309

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 1
That the Laws of Maryland read as follows: 2

Article – Tax – General 3

11–214.1. 4

(a) In this section: 5

(1) “precious metal bullion or coins” means: 6

(i) any precious metal that has gone through a refining process and 7
is in a state or condition such that its value PRIMARILY depends on its precious metal 8
content and not on its form; or 9

(ii) except as provided in paragraph (2) of this subsection, monetized 10
bullion, coins, or other forms of money that: 11

1. are manufactured from precious metals; and 12

2. are or have in the past been used as a medium of exchange 13
under the laws of the State, the United States, or a foreign nation; and 14

(2) “precious metal bullion or coins” does not include jewelry or a work of 15
art made of precious metal bullion or coins. 16

(b) The sales and use tax does not apply to a sale of precious metal bullion or coins 17
[if: 18

(1) the sale price is greater than $1,000; and 19

(2) the sale occurs at the Baltimore Convention Center]. 20

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 21
1, 2026. 22