Enrolled Bill Summary

            House Bill 109 amends provisions of the Tax Code relating to customs brokers and international transactions. The bill requires the comptroller to maintain a password-protected website that a customs broker must use to prepare the documents needed to show the exemption of tangible personal property exported outside the country; the comptroller also must provide an alternate means for use when the website is unavailable. It increases the annual license fee for a customs broker from a flat fee of $100 regardless of the number of business locations to a $300 fee for each place of business where the customs broker intends to issue a tax exemption certificate for exports of tangible personal property and increases the bond or security required of a customs broker from a minimum of $500 and a maximum of $2,500 to a base amount of $5,000 plus an additional $1,000 bond or security for each place of business where the customs broker issues tax exemption certificates. House Bill 109 requires a customs broker to report to the comptroller on a quarterly basis the total value of tangible personal property, the total amount of the corresponding tax for which certificates of export were issued, and the total amount of tax refunded in accordance with those certificates. The bill establishes specific verification procedure requirements for a customs broker to issue documentation that certifies that tangible personal property was delivered outside of the United States, provides specific penalties for noncompliance, and increases the cost of an export stamp from not more than five cents to $1.60. These provisions take effect January 1, 2004.

            House Bill 109 adds a new chapter to the Finance Code to provide for the regulation of the transmission of currency to another country and establishes civil penalties for a violation of regulations. Provisions of this chapter take effect September 1, 2003.