Bill Text: TX SB1007 | 2019-2020 | 86th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the prepayment of ad valorem taxes.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2019-05-08 - Left pending in committee [SB1007 Detail]
Download: Texas-2019-SB1007-Introduced.html
Bill Title: Relating to the prepayment of ad valorem taxes.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2019-05-08 - Left pending in committee [SB1007 Detail]
Download: Texas-2019-SB1007-Introduced.html
86R197 CJC-D | ||
By: Bettencourt, et al. | S.B. No. 1007 |
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relating to the prepayment of ad valorem taxes. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Sections 31.072(a), (c), and (d), Tax Code, are | ||
amended to read as follows: | ||
(a) At the request of a property owner, the [ |
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for a taxing unit shall [ |
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owner under which the property owner deposits money in an escrow | ||
account maintained by the collector to provide for the payment of | ||
property taxes collected by the collector on any property the | ||
person owns. | ||
(c) A contract under this section must allow [ |
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property owner to make [ |
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any time until the earlier of the following occurs: | ||
(1) the estimated amount of taxes as provided [ |
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the contract under Subsection (d) [ |
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account; or | ||
(2) [ |
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prepared[ |
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(d) On request by a property owner to establish an escrow | ||
account under this section, the collector shall estimate the amount | ||
of taxes to be imposed on the property by the affected taxing units | ||
in that year and include that amount in the contract to establish | ||
the escrow account. The contract must also include an estimate of | ||
the amount of money the property owner would need to deposit to the | ||
escrow account each month in order to [ |
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the date the collector estimates the tax bill for the property will | ||
be prepared, a total deposit to the escrow account that is not less | ||
than the amount of taxes estimated by the collector or the amount of | ||
taxes imposed on the property by the affected taxing units in the | ||
preceding year, whichever is less. The contract may not require the | ||
property owner to comply with a schedule of deposits or prescribe a | ||
minimum amount that must be deposited to the escrow account. The | ||
collector may agree to a deposit of a greater amount on the property | ||
owner's request. | ||
SECTION 2. Sections 31.072(h) and (i), Tax Code, are | ||
repealed. | ||
SECTION 3. The change in law made by this Act applies only | ||
to a contract under Section 31.072, Tax Code, that is entered into | ||
on or after the effective date of this Act. A contract under | ||
Section 31.072, Tax Code, that is entered into before the effective | ||
date of this Act is governed by the law in effect when the contract | ||
was entered into, and the former law is continued in effect for that | ||
purpose. | ||
SECTION 4. This Act takes effect September 1, 2019. |