Modifying the tax preferences for precious metal bullion and monetized bullion.

HB 1965 repeals a Washington State tax provision (RCW 82.04.062) that previously excluded sales of precious metal bullion and monetized bullion from certain tax calculations. This change directly affects businesses and individuals buying or selling these items, as their transactions will now be subject to standard sales tax rules. The bill takes effect October 1, 2025, and explicitly states it does not impact existing tax liabilities or ongoing proceedings under the repealed law.