Texas House Bill HB4055

Texas 2015 - 84th Regular

Caption

Relating to the issuance of export stamps.

Impact

One notable impact of HB 4055 is its provision for the Comptroller to change the stamp design every calendar quarter. This measure is intended to enhance enforcement of export compliance within the state and adapt to changing needs in the regulatory environment. The bill outlines specific financial allocations from the proceeds of stamp sales, ensuring that funds are used for the administration of export regulations and for the general revenue fund of Texas, creating a new revenue stream while maintaining regulatory oversight.

Summary

House Bill 4055 aims to amend the Texas Tax Code specifically concerning the issuance of export stamps. The bill directs the Texas Comptroller to print and manufacture export stamps in a design, size, and quantity deemed necessary for ensuring proper export documentation. It also includes provisions regarding the stamping process, ensuring that they can be securely attached to relevant export documentation, thereby streamlining the export process for customs brokers and ensuring compliance with state tax laws.

Contention

The potential points of contention surrounding HB 4055 may arise from the impact of the new requirements on customs brokers. The requirement for stamps to be purchased in minimum quantities and the stipulation that they cannot be transferred to unauthorized individuals could raise concerns among brokers about operational flexibility and cost. Furthermore, the increase in stamp costs from $2.10 to $5.00 may be seen as a financial burden by some stakeholders, leading to discussions about the balance between regulatory enforcement and economic feasibility for businesses engaged in export activities.