Bill

HB 78

83(R) - 2013
Read Bill & Check Bill Status
Taxes

Vote Recommendation

Yes
  • Neutral
  • Positive
  • Neutral
  • Positive
  • Neutral

Author(s)

David Simpson

Bill Caption

Relating to the exemption from the sales and use tax for certain coins and precious metals.

Fiscal Notes

Estimated Two-year Net Impact to General Revenue Related Funds for HB78, As Introduced: a negative impact of ($424,000) through the biennium ending August 31, 2015, if the bill becomes effective immediately; or a negative impact of ($375,000) through the biennium ending August 31, 2015, if the effective date of the bill is September 1, 2013.

Bill Analysis

Summary: HB 78 would exempt the sale of gold, silver, or numismatic coins, or of platinum, gold, or silver bullion from taxes levied by Chapter 151, Tax Code, dealing with limited sales, excise, and use tax.

Analysis: HB 78 would limit government by restricting the amount of revenue Texas can take by taxing coins. This promotes the property rights of coin collectors by not taxing them for coin purchases.