TITLE: Relating to the issuance of commemorative coins by a vendor designated as the official state mint.

SUMMARY: Relating to the issuance of commemorative coins by a vendor designated as the official state mint.

FULL TEXT:
AN ACT relating to the issuance of commemorative coins by a vendor designated as the official state mint. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Chapter 403, Government Code, is amended by adding Subchapter Rto read as follows: SUBCHAPTER R. STATE MINT Sec. 403.501. STATE MINT FOR COMMEMORATIVE COINS. (a) The comptroller shall contract with a private vendor to manufacture and sell commemorative coins. The vendor with which the comptroller contracts is designated the official state mint. (b) The commemorative coins issued under this section must include an image of a president of the Republic of Texas. (c) Revenue received under this section shall be deposited in the general revenue fund. Sec. 403.502. ADVISORY COMMITTEE ON STATE MINT. The comptroller shall appoint an advisory committee to determine the design of the commemorative coins. The advisory committee shall solicit proposed designs with an image of a president of the Republic of Texas and determine the most appropriate design for the commemorative coins. Sec. 403.503. ANNUAL REPORT. Not later than December 1 of each year, the comptroller shall report on the status and any revenue received from the sale of the commemorative coins. The comptroller shall publish the report on the comptroller's Internet website. SECTION 2. (a) Not later than August 31, 2016, the comptroller shall solicit bids and proposals and award a contract for the manufacture and sale of the commemorative coins as provided by Section 403.501, Government Code, as added by this Act. (b) Not later than December 1, 2017, the comptroller shall publish the first report under Section 403.503, Government Code, as added by this Act. SECTION 3. This Act takes effect September 1, 2015.