Texas Senate Bill SB350

Texas 2017 - 85th Regular

• Filed: 12/19/16

Caption

Relating to the repeal of certain laws regulating the sale or transfer of secondhand watches.

Impact

By repealing Subchapter C of Chapter 17 in the Business & Commerce Code, SB350 directly affects the state's regulatory framework for secondhand watches. The bill eliminates existing legal penalties for the sale of these items, which could lead to a spike in transactions in the secondary market. The aim is to encourage economic activity by removing restrictions that are viewed as unnecessary, thus positively impacting both consumers and businesses engaged in the trade of secondhand watches.

Summary

SB350 proposes the repeal of certain laws that govern the sale or transfer of secondhand watches in Texas. The bill aims to reduce regulatory burdens on individuals and businesses involved in the secondary market for watches, thereby promoting commerce in this segment of the market. The primary focus of the legislation is to eliminate outdated regulations that may hinder legitimate trade and commerce surrounding secondhand goods, giving citizens more freedom in buying and selling these items without the fear of legal repercussions from antiquated statutes.

Sentiment

The sentiment surrounding SB350 appears to be generally supportive among legislators and stakeholders interested in business and commerce. Advocates argue that the repeal aligns with efforts to streamline regulations and make it easier for businesses to operate. However, some concerns may arise regarding the potential for increased fraud or the sale of counterfeit goods without existing regulations to provide oversight. Overall, the prevailing sentiment favors easing restrictions in the marketplace.

Contention

While there is broad support for SB350, discussions highlight some contention regarding the implications of deregulating the sale of secondhand products. Critics might express concerns over consumer protection, fearing that repealing these laws could open the door to unregulated sales that may harm buyers. However, proponents maintain that the benefits of increased commerce and reduced legal burdens outweigh potential risks, emphasizing trust in consumer discretion and market forces to regulate itself.