By: Jackson S.B. No. 432
A BILL TO BE ENTITLED
AN ACT
relating to the penalty for failure to make a timely installment
payment of ad valorem taxes on property in a disaster area.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsection (c), Section 31.032, Tax Code, is
amended to read as follows:
(c) If the person fails to make a payment before the
applicable date provided by Subsection (b), the unpaid amount is
delinquent and incurs a penalty of six [12] percent and interest as
provided by Section 33.01(c).
SECTION 2. Subsection (c), Section 31.032, Tax Code, as
amended by this Act, applies only to the penalty for a failure to
make a timely installment payment of taxes that occurs on or after
the effective date of this Act. The penalty for a failure to make a
timely installment payment of taxes that occurred before the
effective date of this Act is governed by the law in effect when the
failure occurred, and the former law is continued in effect for that
purpose.
SECTION 3. This Act takes effect September 1, 2011.