HB 999 Florida House · 2025 Regular Session

Legal Tender

Summary

Legal Tender; Revising the sales and use tax exemption for certain coin or currency; specifying that a person who claims the sales tax exemption bears the burden for determining whether the gold coin or silver coin meets a specified definition; providing a presumption regarding the purity requirements of gold coin and silver coin, etc.

Issues: ✓ Budget & Taxes

Bill status signed all 5 stages cleared

Introduction

Feb 2025

Committee Review

Apr 2025

House Passage

Apr 2025

Senate Passage

Apr 2025

Signed into Law

May 2025

Introduced Feb 24, 2025 Signed May 27, 2025

Maddy AI version diff · 3 comparisons

What changed between versions

H 999 e1 → H 999 er · 2 edits

MINOR

This bill transitioned from an Engrossed version to an Enrolled version, indicating it has been approved by both legislative chambers and is ready for the Governor's signature. The substantive content of the bill remains unchanged, with only formatting and metadata updates reflecting its final legislative status.

TECHNICAL

Header changed from 'CS/HB 999, Engrossed 1' to 'ENROLLED' to indicate the bill has passed both houses and is in its final form for executive action.

Document identifier updated from 'hb999 -02-e1' to 'hb999 -02-er' to reflect the enrolled status in the legislative tracking system.

H 999 Filed → H 999 c1 · 9 edits

MAJOR

The bill was substantially rewritten and expanded from 6 pages to 26 pages, shifting focus from a narrow gold and silver legal tender provision to a comprehensive financial services framework. The original version focused primarily on defining specie as legal tender and limiting tax liability, while the new version adds extensive regulations for custodians of precious metals, money services businesses, and payment instrument sellers. This represents a significant policy expansion from a limited legal tender declaration to a full regulatory scheme governing precious metals financial services.

Scope change

The bill's scope expanded from a narrow legal tender provision to a comprehensive financial services regulatory framework covering custodians, money services businesses, payment instruments, and financial institutions.

SCOPE

Added extensive regulatory provisions for custodians of gold and silver coin, including licensing requirements, examination authority, and fiduciary obligations.

REQUIREMENT

Created new sections requiring the Office of Financial Regulation to approve custodian applications and conduct examinations before issuing licenses.

Added provisions prohibiting money services businesses from being required to offer certain products or services, with specific requirements if they do offer them.

Required applicants seeking to operate as payment instrument sellers, money transmitters, or custodians to provide specified information to the regulatory office.

Added provisions requiring financial institutions to take certain actions under specified circumstances related to monetary instruments.

DEFINITION

Expanded definitions to include broader categories of financial services related to precious metals beyond the original legal tender focus.

Changed the definition of 'legal tender' from a broad concept to specifically 'coin or silver coin which hold public deposits to satisfy certain conditions.'

ENFORCEMENT

Added provisions authorizing the Financial Services Commission to adopt rules and take disciplinary actions against unlicensed custodians.

TIMELINE

Added requirement for the Department of Financial Services to submit a specified report to the Governor and Legislature by a specified date.

Floor votes · Senate Apr 29, 2025 · House Apr 23, 2025

How they voted

38–0

Passed

Total votes 38

Apr 29, 2025

D Democratic10

10 Yea

100% Yea

I Independent1

1 Yea

100% Yea

R Republican27

27 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 27, 2025

Signed into law

Approved by Governor

legislature

Apr 30, 2025

Lower · Passed

CS passed as amended; YEAS 113, NAYS 0

lower

Apr 30, 2025

Introduced

Amendment 253202 Concur

lower

Apr 29, 2025

Upper · Passed

CS passed as amended; YEAS 38 NAYS 0

upper

Apr 29, 2025

Upper · Passed

Amendment(s) adopted (253202)

upper

Apr 23, 2025

Committee

Referred to Appropriations

upper

Apr 23, 2025

Lower · Passed

CS passed; YEAS 112, NAYS 1

lower

Apr 17, 2025

Committee

Bill referred to House Calendar

lower

Apr 17, 2025

Lower · Passed

Reported out of Commerce Committee

lower

Apr 15, 2025

Lower · Passed

Favorable with CS by Commerce Committee

lower

Apr 11, 2025

Lower · Passed

PCS added to Commerce Committee agenda

lower

Apr 2, 2025

Lower · Passed

Now in Commerce Committee

lower

Apr 2, 2025

Lower · Passed

Reported out of Ways & Means Committee

lower

Apr 2, 2025

Lower · Passed

Favorable by Ways & Means Committee

lower

Mar 31, 2025

Lower · Passed

Added to Ways & Means Committee agenda

lower

Mar 21, 2025

Lower · Passed

Now in Ways & Means Committee

lower

Mar 21, 2025

Lower · Passed

Reported out of Insurance & Banking Subcommittee

lower

Mar 20, 2025

Lower · Passed

Favorable by Insurance & Banking Subcommittee

lower

Mar 18, 2025

Lower · Passed

Added to Insurance & Banking Subcommittee agenda

lower

Mar 2, 2025

Lower · Passed

Now in Insurance & Banking Subcommittee

lower

Mar 2, 2025

Committee

Referred to Commerce Committee

lower

Mar 2, 2025

Committee

Referred to Ways & Means Committee

lower

Mar 2, 2025

Committee

Referred to Insurance & Banking Subcommittee

lower

2 primary · 11 co-sponsors