Public Funds and Financing - As introduced, enacts the "Tennessee Transactional Gold and Silver Act," which recognizes gold and silver as legal tender for private transactions and, when accepted, for paying state and local taxes or fees; authorizes the creation of a secure bullion depository and an electronic payment system to support the use of gold and silver; exempts gold and silver transactions from state and local taxation. - Amends TCA Title 9, Chapter 4.

HB 2427, the "Tennessee Transactional Gold and Silver Act," allows physical gold and silver to be used as legal tender for private transactions and, if accepted, for paying state and local taxes or fees. The bill creates a system where the state treasurer can authorize a secure bullion depository and an electronic payment platform to facilitate gold/silver transactions, while exempting these transactions from state and local taxes. It defines "transactional gold and silver" as physical bullion (like certified coins or bars) backed by stored metal, requiring mutual agreement between parties for use in payments. The law does not compel businesses or government to accept gold/silver, and it explicitly prohibits using the system for surveillance or social scoring.