| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Jackson S.B. No. 432 | |
| 2 | 2 | (Bonnen) | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the penalty for failure to make a timely installment | |
| 8 | 8 | payment of ad valorem taxes on property in a disaster area. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subsection (c), Section 31.032, Tax Code, is | |
| 11 | 11 | amended to read as follows: | |
| 12 | 12 | (c) If the person fails to make a payment before the | |
| 13 | 13 | applicable date provided by Subsection (b), the unpaid amount is | |
| 14 | 14 | delinquent and incurs a penalty of six [12] percent and interest as | |
| 15 | 15 | provided by Section 33.01(c). | |
| 16 | 16 | SECTION 2. Subsection (c), Section 31.032, Tax Code, as | |
| 17 | 17 | amended by this Act, applies only to the penalty for a failure to | |
| 18 | 18 | make a timely installment payment of taxes that occurs on or after | |
| 19 | 19 | the effective date of this Act. The penalty for a failure to make a | |
| 20 | 20 | timely installment payment of taxes that occurred before the | |
| 21 | 21 | effective date of this Act is governed by the law in effect when the | |
| 22 | 22 | failure occurred, and the former law is continued in effect for that | |
| 23 | 23 | purpose. | |
| 24 | 24 | SECTION 3. This Act takes effect September 1, 2011. |