Bill Text: TX HB78 | 2013-2014 | 83rd Legislature | Engrossed

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Bill Title: Relating to the exemption from the sales and use tax for certain coins and precious metals.

Spectrum: Slight Partisan Bill (Republican 86-41)

Status: (Passed) 2013-06-14 - Effective on . . . . . . . . . . . . . . . [HB78 Detail]

Download: Texas-2013-HB78-Engrossed.html

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By: Simpson, Hilderbran, Thompson of Harris, H.B. No. 78
Lucio III, Canales, et al.

A BILL TO BE ENTITLED
AN ACT
relating to the exemption from the sales and use tax for certain
coins and precious metals.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 151.336, Tax Code, is amended to read as
follows:
Sec. 151.336. CERTAIN COINS AND PRECIOUS METALS. [(a)] The
sale of gold, silver, or numismatic coins or of platinum, gold, or
silver bullion is exempted from the taxes [sales tax] imposed by
this chapter [Subchapter C at any sale to a purchaser in which the
total sales price of all of the items sold equals $1,000 or more].
[(b) An item exempt under Subsection (a) is exempt from the
use tax imposed by Subchapter D to the purchaser until the item is
subsequently transferred.]
SECTION 2. The change in law made
by this Act does not
affect tax liability accruing before the effective date of this
Act. That liability continues in effect as if this Act had not been
enacted, and the former law is continued in effect for the
collection of taxes due and for civil and criminal enforcement of
the liability for those taxes.
SECTION 3. This Act takes effect October 1, 2013.