Bill Text: TX SB69 | 2021 | 87th Legislature 2nd Special Session | Introduced

Texas Senate Bill 69 (Prior Session Legislation)

Introduced

Bill Title: Relating to the abolition of the Texas Bullion Depository.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2021-08-10 - Filed [SB69 Detail]

Download: Texas-2021-SB69-Introduced.html

	87S20129 KJE-D

	By: Seliger	S.B. No. 69



	A BILL TO BE ENTITLED
	AN ACT
	relating to the abolition of the Texas Bullion Depository.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 11.141(a)(1), Tax Code, is amended to
	read as follows:
	(1) "Precious metal" means a metal, including gold,
	silver, platinum, palladium, and rhodium, that:
	(A) bears a high value-to-weight ratio relative
	to common industrial metals; and
	(B) customarily is formed into bullion or specie
	[~~has the meaning assigned by Section 2116.001, Government Code~~].
	SECTION 2. The following provisions of the Government Code
	are repealed:
	(1) Section 1232.1026, as added by S.B. No. 2230, Acts
	of the 87th Legislature, Regular Session, 2021; and
	(2) Chapter 2116.
	SECTION 3. On January 1, 2022:
	(1) the Texas Bullion Depository is abolished;
	(2) all obligations, rights, contracts, records, real
	and personal property, funds, appropriations, and money of the
	Texas Bullion Depository are transferred to the comptroller of
	public accounts;
	(3) the administrator of the Texas Bullion Depository
	becomes an employee of the comptroller of public accounts;
	(4) an employee of the Texas Bullion Depository
	becomes an employee of the comptroller of public accounts; and
	(5) a reference in other law to the Texas Bullion
	Depository means the comptroller of public accounts.
	SECTION 4. This Act takes effect on the 91st day after the
	last day of the legislative session.