Texas 2013 - 83rd Regular

Texas House Bill HB2425

Filed
 
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the form, content, and provision of payoff statements for property tax loans.

Impact

The implications of HB2425 are geared towards improving consumer protections for individuals receiving property tax loans. By requiring detailed disclosures, the legislation seeks to minimize confusion and prevent excessive fees that may not have been adequately communicated to consumers. This change is expected to foster a fairer lending environment and protect property owners from potential pitfalls associated with unclear loan agreements.

Summary

House Bill 2425 addresses the form, content, and provision of payoff statements related to property tax loans in Texas. The bill mandates the Finance Commission of Texas to prescribe specific guidelines for the disclosure statements that must be provided to property owners prior to executing a tax lien transfer. It aims to ensure that property owners receive clear and comprehensive information about the terms and potential costs associated with their loans, thereby enhancing transparency in property tax transactions.

Contention

Debate surrounding the bill may center on the balance between consumer protection and the operational burdens it places on lenders. Supporters of the bill will likely argue that the additional regulations are necessary to safeguard vulnerable property owners from predatory lending practices. However, critics may contend that the increased regulatory requirements could complicate the loan process and increase costs for lenders, which could ultimately be passed down to consumers.

Companion Bills

No companion bills found.

Previously Filed As

TX HB3275

Relating to the regulation of consumer credit transactions and the regulatory authority of the consumer credit commissioner; changing a fee.

TX SB1371

Relating to the regulation of consumer credit transactions and the regulatory authority of the consumer credit commissioner; changing a fee.

TX HB219

Relating to the release of a deed of trust or other contract lien securing a home loan after payoff by mortgagor.

TX HB3422

Relating to the correction or removal of certain obsolete provisions of the Property Code.

TX HB3758

Relating to repealing civil asset forfeiture provisions and establishing criminal asset forfeiture in this state.

TX SB1768

Relating to the correction or removal of certain obsolete provisions of the Property Code.

TX HB38

Relating to the elimination of certain property taxes for school district maintenance and operations and the provision of public education funding by increasing the rates of certain state taxes.

TX HJR29

Proposing a constitutional amendment providing that a residence homestead is not subject to seizure or sale for delinquent ad valorem taxes.

TX HB2121

Relating to the form of a rendition statement or property report used to render property for ad valorem tax purposes.

TX HB1228

Relating to the delivery of certain information under the Property Tax Code.

Similar Bills

CA AB1170

Political Reform Act of 1974: filing requirements.

CA AB2051

Candidate’s statement.

CA AB2679

Fictitious business names: statements: publication.

CA AB515

Trial: statement of decision.

CA SB632

Vehicles: off-highway recreation: Red Rock Canyon State Park.

TX SB2221

Relating to the filing of a fraudulent financing statement in relation to certain secured transactions; authorizing the imposition of a fee.

TX HB5377

Relating to the filing of a fraudulent financing statement in relation to certain secured transactions; authorizing the imposition of a fee.

CA AB750

Crimes: perjury.