HBA-MPM H.B. 230 76(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 230 By: West, George Ways & Means 2/25/1999 Introduced BACKGROUND AND PURPOSE Current law arbitrarily exempts from state sales tax purchases of gold, silver, and collectible coins, as well as platinum, gold, and silver bullion, equal to or greater than $1000. This situation may discriminate against a small investor in precious metals. H.B. 230 reduces the current taxable threshold for taxation from $1000 to $100. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not delegate any additional rulemaking authority to a state officer, department, agency, or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 151.336(a), Tax Code, to decrease the total sales threshold of gold, silver, collectible coins, or platinum, gold, or silver bullion under Subchapter C from $1000 to $100 on which sales tax is to be imposed. SECTION 2. Effective date: the first day of the calendar quarter beginning on or after the date it may take effect under Section 39, Article III, Texas Constitution. Makes application of this Act prospective, with the exception of its effect for purposes of liability for and collection of those taxes. SECTION 3. Emergency clause.