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A BILL TO BE ENTITLED
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AN ACT
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relating to precious metal coins. |
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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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(a) The sale of gold, silver, or numismatic coins or of |
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platinum, gold, or silver bullion is exempted from the sales tax |
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imposed by 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. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |