diff --git a/features.api.php b/features.api.php
index 2f6fcf6..2defc08 100644
--- a/features.api.php
+++ b/features.api.php
@@ -363,5 +363,20 @@ function hook_user_default_roles_alter(&$roles) {
 }
 
 /**
+ * Alter the code generated by an exportable.
+ *
+ * @param &$code
+ *   By reference. The generated code, as an associative array keyed by the
+ *   function name (default_hook).
+ * @param $context
+ *   An associative array containing the following keys:
+ *   - module_name: The name of the module code being exported.
+ *   - component: The exportable component name.
+ *   - export: The raw data sent to the renderer.
+ */
+function hook_features_export_render_alter(&$code, $context) {
+}
+
+/**
  * @}
  */
diff --git a/features.export.inc b/features.export.inc
index 396bb0f..9cd4b50 100644
--- a/features.export.inc
+++ b/features.export.inc
@@ -190,6 +190,12 @@ function features_export_render_hooks($export, $module_name, $reset = FALSE) {
       asort($data);
       if (features_hook($component, 'features_export_render')) {
         $hooks = features_invoke($component, 'features_export_render', $module_name, $data, $export);
+        $context = array(
+          'module_name' => $module_name,
+          'component' => $component,
+          'export' => $export,
+        );
+        drupal_alter('features_export_render', $hooks, $context);
         $code[$component] = $hooks;
       }
     }
diff --git a/features.module b/features.module
index e49dbb2..9a881b9 100644
--- a/features.module
+++ b/features.module
@@ -837,6 +837,33 @@ function features_enable_feature($module) {
 }
 
 /**
+ * Implements hook_features_export_render_alter().
+ * 
+ * Add the drupal_alter helper to the exported code to enable override support
+ */
+function features_features_export_render_alter(&$data, $context) {
+  if (is_array($data)) {
+    $alter_line = '  features_alter_code(' . var_export($context['component'], TRUE).', \$$2);';
+    foreach ($data as $default_hook => $code) {
+      // Search for the "return $varname;" at the end of the exportable.
+      // If it exists, then add our alter helper function just before the return.
+      $data[$default_hook] = preg_replace(
+        '/\s+(return\s+\$([a-zA-Z_]+);)/', 
+        "\n\n" . $alter_line . "\n\n  " . '$1', 
+        $code);
+    }
+  }
+}
+
+/**
+ * Helper function called at the end of exportable code to add the alter hook 
+ * for modifying the data.
+ */
+function features_alter_code($component, &$data) {
+  drupal_alter('features_code', $data, $component);
+}
+
+/**
  * Utility functions ==================================================
  */
 
diff --git a/includes/features.taxonomy.inc b/includes/features.taxonomy.inc
index 5ac4ec5..4079075 100644
--- a/includes/features.taxonomy.inc
+++ b/includes/features.taxonomy.inc
@@ -72,7 +72,10 @@ function taxonomy_features_export_render($module, $data) {
       }
     }
   }
-  $code = "  return ". features_var_export($code, '  ') .";";
+  $output = array();
+  $output[] = '  $taxonomy = ' . features_var_export($code, '  ') . ';';
+  $output[] = '  return $taxonomy;';
+  $code = implode("\n", $output);
   return array('taxonomy_default_vocabularies' => $code);
 }