Bill Text: TX HB1726 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to a study by the consumer credit commissioner regarding payment by mortgage lenders of property tax loans.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-03-18 - Referred to Investments & Financial Services [HB1726 Detail]
Download: Texas-2015-HB1726-Introduced.html
| 84R8251 SMH-D | ||
| By: Oliveira | H.B. No. 1726 | |
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| relating to a study by the consumer credit commissioner regarding | ||
| payment by mortgage lenders of property tax loans. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. (a) The consumer credit commissioner shall | ||
| conduct a study of the frequency with which mortgage lenders pay off | ||
| property tax loans and the reasons for doing so, including because | ||
| the property owner has defaulted on the mortgage loan and the | ||
| mortgage lender is attempting to protect its collateral. | ||
| (b) The consumer credit commissioner shall provide to the | ||
| legislature an interim report of the results of the study not later | ||
| than December 1, 2015, and a final report of the study results not | ||
| later than December 1, 2016. | ||
| SECTION 2. 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, 2015. | ||
