“Not later than May 31, 2026, the
attorney general shall submit to the governor, the comptroller, and
the speaker of the house of representatives a written report”…
A written report due May 31, 2026. The law expires the next day!
The bill orders the attorney general to study whether Texans could use debit cards for purchases backed by gold and other bullion held in the Texas Bullion Depository. It touches the attorney general's office, which must look at state and local tax questions, how to shield users from federal taxation of bullion as currency, and other legal issues, and must take public input. Nothing changes on the ground beyond a written report due by May 31, 2026, and the law expires June 1, 2026.
Labels
Labels: ZOMBIE BILL. Died 2 times: 88R HB 4306 (Did not pass) and this bill (Died in committee). Checked against 88R only.BACK FROM THE DEAD. Same text as a bill filed before that died: 88R HB 4306 (Did not pass). Filed in 2 sessions, counting this one. Checked against 88R only.TRY NO. 2. Filed in 2 sessions: 88R and 89R. Checked against 88R only.NEVER GOT A HEARING. Filed Nov 12, 2024 and referred to the House Pensions, Investments & Financial Services committee. No public hearing. The bill died.
relating to a study by the attorney general on the feasibility of
linking debit card transactions to bullion in the Texas Bullion
Depository.
WHAT IT DOES
A written report due May 31, 2026. The law expires the next day!
The bill orders the attorney general to study whether Texans could use debit cards for purchases backed by gold and other bullion held in the Texas Bullion Depository. It touches the attorney general's office, which must look at state and local tax questions, how to shield users from federal taxation of bullion as currency, and other legal issues, and must take public input. Nothing changes on the ground beyond a written report due by May 31, 2026, and the law expires June 1, 2026.
“Not later than May 31, 2026, the
attorney general shall submit to the governor, the comptroller, and
the speaker of the house of representatives a written report”…
Data snapshot Oct 26, 2026 at 4:19 AM CDT. Grades, charges, quotes and corrections follow the published record.
House committee · Pensions, Investments & Financial Services · Final status: Died in committee
Subjects
Financial--General
Interim Studies
CREDIT & DEBIT CARDS
ATTORNEY GENERAL
TEXAS BULLION DEPOSITORY, OFFICE OF THE COMPTROLLER
Text
The text as introduced · 314 words
89R1075 MLH-D
By: Dorazio
H.B. No. 1054
A BILL TO BE ENTITLED
AN ACT
relating to a study by the attorney general on the feasibility of
linking debit card transactions to bullion in the Texas Bullion
Depository.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. DEFINITIONS. In this Act:
(1) "Bullion" has the meaning assigned by Section
2116.001, Government Code.
(2) "Depository" means the Texas Bullion Depository
established under Chapter 2116, Government Code.
SECTION 2. STUDY. (a) The attorney general shall conduct a
study on the feasibility of a program that provides for debit cards
to be able to be used in transactions linked to and accounted for by
bullion in the depository.
(b) In conducting the study, the attorney general shall
examine:
(1) whether certain state and local taxes would apply
to transactions made through the program;
(2) how the state might protect participants in the
program from federal attempts to tax the bullion as currency; and
(3) any other legal considerations.
(c) The attorney general shall solicit and accept input from
the public in conducting the study.
(d) The attorney general may collaborate with the
appropriate standing committees of the house of representatives and
the senate in conducting the study.
SECTION 3. REPORT. Not later than May 31, 2026, the
attorney general shall submit to the governor, the comptroller, and
the speaker of the house of representatives a written report on the
study required under this Act that includes any legislative
recommendations based on the study.
SECTION 4. EXPIRATION. This Act expires June 1, 2026.
SECTION 5. EFFECTIVE DATE. This Act takes effect
immediately if it receives a vote of two-thirds of all the members
elected to each house, as provided by Section 39, Article III, Texas
Constitution. If this Act does not receive the vote necessary for
immediate effect, this Act takes effect September 1, 2025.