In April 2025, lawmakers introduced House Bill 836, also known as the North Carolina Sound Money Act.
This bill proposes:
Recognition of gold and silver, specifically investment coins and metal bullion marked with weight and purity, as legal tender.
Personal income tax deductions for the gain or loss from using these precious metals in transactions—eliminating capital gains taxation for such exchanges.
Notably, HB 836 does not require anyone to accept gold or silver; acceptance remains voluntary, solely based on agreement between parties.
The income tax deduction becomes effective starting with the 2025 tax year.
The legal tender recognition portion of the bill is scheduled to go into effect October 1, 2025, pending enactment.