TPT; use tax; exemption; batteries

HB 4116 amends Arizona's use tax law to add a new exemption for the sale of precious metal bullion (like gold, silver, platinum, rhodium, and palladium) to the ultimate consumer. This exempts these items from the state's use tax, which typically applies to tangible personal property. The change directly affects businesses selling precious metal bullion to individual consumers, as they will no longer need to collect use tax on these sales. The exemption applies to bullion that has been smelted or refined, with value based on its metal content rather than form. This is a specific tax policy change, not a procedural or commemorative measure.