82R14245 T
By: Simpson H.B. No. 3104
A BILL TO BE ENTITLED
AN ACT
relating to precious metal coins.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 151.336, Tax Code, is amended to read as
follows:
(a) The sale of gold, silver, or numismatic coins or of
platinum, gold, or silver bullion is exempted from the sales tax
imposed by 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. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2011.