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