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  89R3536 JBD-F     By: Bhojani H.B. No. 2137       A BILL TO BE ENTITLED   AN ACT   relating to a temporary decrease in the rates of state sales and use   taxes applicable to certain sales the payment for which is made   using a decentralized network in the blockchain.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 151.051, Tax Code, is amended by adding   Subsections (c) and (d) to read as follows:           (c)     Notwithstanding Subsection (b), the sales tax and use   tax rate is 5-1/4 percent of the sales price of a taxable item if:                 (1)     payment for the taxable item is made using a   decentralized network that uses smart contract functionality in the   blockchain to enable instant payments across a network of   participants;                 (2)     during the period beginning January 1 of the   calendar year in which the sale is made and ending the day before   the date the sale is made, the reduction in the total amount of   sales and use taxes imposed as a result of this subsection does not   exceed $400,000; and                 (3)     the sale is made on or after January 1, 2026, and   before January 1, 2028.           (d)     The comptroller shall require permit holders who accept   payments described by Subsection (c)(1) to report the amount of   sales and use taxes imposed at the rate provided by Subsection (c)   daily until the limit provided by Subsection (c)(2) is reached for a   calendar year. The comptroller shall notify permit holders who   accept payments described by Subsection (c)(1) when the limit   provided by Subsection (c)(2) is reached for a calendar year.   Subsection (c) and this subsection expire January 1, 2028.          SECTION 2.  The changes in law made by this Act do not affect   tax liability accruing before the effective date of this Act.  That   liability continues in effect as if this Act had not been enacted,   and the former law is continued in effect for the collection of   taxes due and for civil and criminal enforcement of the liability   for those taxes.          SECTION 3.  This Act takes effect September 1, 2025.