Texas 2019 - 86th Regular

Texas Senate Bill SB1007 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		By: Bettencourt, et al. S.B. No. 1007
	2	+	(In the Senate - Filed February 22, 2019; March 1, 2019,
	3	+	read first time and referred to Committee on Property Tax;
	4	+	April 15, 2019, reported favorably by the following vote: Yeas 5,
	5	+	Nays 0; April 15, 2019, sent to printer.)
	6	+	Click here to see the committee vote
2	7
3	8
4	9		A BILL TO BE ENTITLED
5	10		AN ACT
6	11		relating to the prepayment of ad valorem taxes.
7	12		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
8	13		SECTION 1. Sections 31.072(a), (c), and (d), Tax Code, are
9	14		amended to read as follows:
10	15		(a) At the request of a property owner, the [The] collector
11	16		for a taxing unit shall [may] enter a contract with the [a] property
12	17		owner under which the property owner deposits money in an escrow
13	18		account maintained by the collector to provide for the payment of
14	19		property taxes collected by the collector on any property the
15	20		person owns.
16	21		(c) A contract under this section must allow [require] the
17	22		property owner to make [monthly] deposits to the escrow account at
18	23		any time until the earlier of the following occurs:
19	24		(1) the estimated amount of taxes as provided [set] in
20	25		the contract under Subsection (d) [of this section] accrues in the
21	26		account; or
22	27		(2) [until] the tax bill for the property is
23	28		prepared[, whichever occurs earlier].
24	29		(d) On request by a property owner to establish an escrow
25	30		account under this section, the collector shall estimate the amount
26	31		of taxes to be imposed on the property by the affected taxing units
27	32		in that year and include that amount in the contract to establish
28	33		the escrow account. The contract must also include an estimate of
29	34		the amount of money the property owner would need to deposit to the
30	35		escrow account each month in order to[. A contract to establish an
31	36		escrow account must provide for deposits that would] provide, as of
32	37		the date the collector estimates the tax bill for the property will
33	38		be prepared, a total deposit to the escrow account that is not less
34	39		than the amount of taxes estimated by the collector or the amount of
35	40		taxes imposed on the property by the affected taxing units in the
36	41		preceding year, whichever is less. The contract may not require the
37	42		property owner to comply with a schedule of deposits or prescribe a
38	43		minimum amount that must be deposited to the escrow account. The
39	44		collector may agree to a deposit of a greater amount on the property
40	45		owner's request.
41	46		SECTION 2. Sections 31.072(h) and (i), Tax Code, are
42	47		repealed.
43	48		SECTION 3. The change in law made by this Act applies only
44	49		to a contract under Section 31.072, Tax Code, that is entered into
45	50		on or after the effective date of this Act. A contract under
46	51		Section 31.072, Tax Code, that is entered into before the effective
47	52		date of this Act is governed by the law in effect when the contract
48	53		was entered into, and the former law is continued in effect for that
49	54		purpose.
50	55		SECTION 4. This Act takes effect September 1, 2019.
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