Bill Text: TX SB1749 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to the calculation of interest on an ad valorem tax refund resulting from the final determination of an appeal that decreases a property owner's liability.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-03-23 - Referred to Finance [SB1749 Detail]
Download: Texas-2017-SB1749-Introduced.html
85R3689 SMT-F | ||
By: Hinojosa | S.B. No. 1749 |
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relating to the calculation of interest on an ad valorem tax refund | ||
resulting from the final determination of an appeal that decreases | ||
a property owner's liability. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Sections 42.43(b) and (c), Tax Code, are amended | ||
to read as follows: | ||
(b) For a refund made under this section, the taxing unit | ||
shall include with the refund interest on all or a portion of the | ||
amount refunded, calculated at an annual rate of 9.5 percent, | ||
calculated from the delinquency date for the taxes until the date | ||
the refund is made. The court that makes the final determination of | ||
the appeal shall, in its discretion, determine the amount on which | ||
interest is to be calculated, provided that the amount is: | ||
(1) not greater than the amount refunded under | ||
Subsection (a); and | ||
(2) not less than the difference between the minimum | ||
amount the taxpayer was required to pay to preserve the right to | ||
appeal under Section 42.08(b) and the amount of taxes for which the | ||
property owner is liable. | ||
(c) Notwithstanding Subsection (b), if a taxing unit does | ||
not make a refund, including interest, required by this section | ||
before the 60th day after the date the chief appraiser certifies a | ||
correction to the appraisal roll under Section 42.41, the taxing | ||
unit shall include with the refund interest on the amount | ||
determined by the court under Subsection (b) [ |
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annual rate of 12 percent, calculated from the delinquency date for | ||
the taxes until the date the refund is made. A refund is not | ||
considered made under this section until sent to the proper person | ||
as provided by this section. | ||
SECTION 2. The change in law made by this Act applies only | ||
to a tax refund that is made following an appeal that is filed on or | ||
after the effective date of this Act. A tax refund that is made | ||
following an appeal that is filed before the effective date of this | ||
Act is determined by the law in effect when the appeal is filed, and | ||
that law is continued in effect for that purpose. | ||
SECTION 3. 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, 2017. |