Bill > HB1054

This bill directs the Texas Attorney General to conduct a comprehensive study on the feasibility of creating a debit card program linked to bullion (precious metal, typically gold or silver) stored in the Texas Bullion Depository. The study will specifically examine potential state and local tax implications, strategies for protecting participants from federal taxation of bullion as currency, and other legal considerations. The Attorney General is required to solicit public input and may collaborate with legislative committees during the research process. By May 31, 2026, the Attorney General must submit a written report to the governor, comptroller, and house speaker, which includes legislative recommendations based on the study's findings. The bill will expire on June 1, 2026, and takes effect immediately if it receives a two-thirds vote in both legislative chambers, or on September 1, 2025, if it does not receive the necessary immediate-effect vote. The bill defines "bullion" and "depository" by referencing existing Texas Government Code sections to provide clear legal context for the study.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB1054