82R2410 SMH-D
By: Kleinschmidt H.B. No. 1285
A BILL TO BE ENTITLED
AN ACT
relating to the payment by the holder of abandoned mineral proceeds
of the ad valorem taxes on the mineral interest to which the
proceeds are attributable.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 74.301(a), Property Code, is amended to
read as follows:
(a) Except as provided by Subsection (c) of this section and
Section 74.3014, each holder who on June 30 holds property that is
presumed abandoned under Chapter 72, 73, or 75 shall deliver the
property to the comptroller on or before the following November 1
accompanied by the report required to be filed under Section
74.101.
SECTION 2. Subchapter D, Chapter 74, Property Code, is
amended by adding Section 74.3014 to read as follows:
Sec. 74.3014. PAYMENT OF AD VALOREM TAXES ON MINERAL
INTEREST OUT OF ABANDONED MINERAL PROCEEDS. (a) In this section,
"holder," "mineral," and "mineral proceeds" have the meanings
assigned by Section 75.001.
(b) Before delivering to the comptroller mineral proceeds
that are presumed abandoned under Chapter 75 and that are
attributable to an interest that is subject to ad valorem taxation,
a holder shall obtain a certificate under Section 31.08, Tax Code,
from the collector for each taxing unit that taxes the interest
showing the amount of delinquent taxes, penalties, interest, and
any known costs and expenses under Section 33.48, Tax Code, due the
unit on the property according to the unit's tax records.
(c) Out of the mineral proceeds held by the holder that are
presumed to be abandoned under Chapter 75, the holder shall pay to
the collector for each taxing unit the amount due the unit as shown
on the tax certificate issued to the holder by the collector.
(d) After making the payment required by Subsection (c), the
holder shall deliver to the comptroller the remaining amount of the
mineral proceeds held by the holder that are presumed abandoned
under Chapter 75, except that the holder may retain an amount equal
to the total amount of the fees paid by the holder to the collectors
for the taxing units for the tax certificates obtained under
Subsection (b).
(e) The holder shall file with the comptroller a
verification of money delivered under this section that complies
with Section 74.302.
(f) A claim for money paid to the collector for a taxing unit
under this section must be filed with the holder that delivered the
money. The holder shall forward the claim to the collector for the
taxing unit to which the money was delivered. Payment of the claim
is governed by Section 31.11, Tax Code.
(g) The comptroller shall prescribe forms and procedures
governing this section, including forms and procedures relating to:
(1) notice of presumed abandoned property;
(2) delivery of reported money to the collector for a
taxing unit; and
(3) filing of a claim.
SECTION 3. This Act takes effect September 1, 2011.