AN ACT to enact the north carolina sound money act.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 105‑153.5 reads as rewritten:

§ 105‑153.5.  Modifications to adjusted gross income.

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(b)        Other Deductions. – In calculating North Carolina taxable income, a taxpayer may deduct from the taxpayer's adjusted gross income any of the following items that are included in the taxpayer's adjusted gross income:

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(17)      Gain or loss, to the extent the loss is not deducted in arriving at adjusted gross income, from the disposition of investment coins and investment metal bullion. For purposes of this subdivision, the following definitions apply:

a.         Investment coins. – Numismatic coins or other forms of money and legal tender manufactured of metal under the laws of the United States or any foreign nation with a fair market value greater than any statutory or nominal value of such coins.

b.         Investment metal bullion. – Any elementary precious metal that has been put through a process of smelting or refining and that is in such state or condition that its value depends upon its content and not upon its form. The term does not include fabricated precious metal that has been processed or manufactured for one or more specific and customary industrial, professional, or artistic uses.

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SECTION 2.  Article 13 of Chapter 66 of the General Statutes is amended by adding a new section to read:

§ 66‑67.6.  Commerce of investment coins and investment metal bullion.

(a)        Legal Tender. – Investment coins and investment metal bullion (i) as defined in G.S. 105‑153.5(b)(17), (ii) made of refined gold or silver, and (iii) stamped, marked, or imprinted with its weight and purity shall be recognized as legal tender in the State.

(b)        Commerce. – No person is required to offer or accept any recognized legal tender as described in subsection (a) of this section for payment of debts, deposit, or any other purpose. In addition, no person incurs liability for refusing to offer or accept such legal tender, except as specifically provided for by contract or otherwise required by law.

SECTION 3.  Section 1 of this act is effective for taxable years beginning on or after January 1, 2025. Section 2 of this act becomes effective October 1, 2025. The remainder of this act is effective when it becomes law.