| 1 | 1 | | 88R14484 DRS-D |
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| 2 | 2 | | By: Toth H.B. No. 4513 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the authority of an individual, before purchasing real |
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| 8 | 8 | | property to be used as the individual's residence homestead, to |
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| 9 | 9 | | request from the chief appraiser of the applicable appraisal |
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| 10 | 10 | | district a preliminary determination of whether the property would |
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| 11 | 11 | | qualify for a disabled veteran exemption if purchased by the |
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| 12 | 12 | | individual and used for that purpose. |
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| 13 | 13 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 14 | 14 | | SECTION 1. Subchapter C, Chapter 11, Tax Code, is amended by |
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| 15 | 15 | | adding Section 11.4385 to read as follows: |
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| 16 | 16 | | Sec. 11.4385. APPLICATION FOR EXEMPTION BY 100 PERCENT OR |
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| 17 | 17 | | TOTALLY DISABLED VETERAN. (a) In this section: |
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| 18 | 18 | | (1) "Disabled veteran" has the meaning assigned by |
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| 19 | 19 | | Section 11.22. |
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| 20 | 20 | | (2) "Mortgage company" has the meaning assigned by |
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| 21 | 21 | | Section 156.002, Finance Code. |
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| 22 | 22 | | (3) "Residence homestead" has the meaning assigned by |
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| 23 | 23 | | Section 11.13. |
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| 24 | 24 | | (4) "Title insurance company" has the meaning assigned |
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| 25 | 25 | | by Section 2501.003, Insurance Code. |
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| 26 | 26 | | (b) To facilitate the financing associated with the |
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| 27 | 27 | | purchase of real property to be used as the individual's residence |
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| 28 | 28 | | homestead, a disabled veteran, before purchasing the property, may |
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| 29 | 29 | | request from the chief appraiser of the appraisal district |
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| 30 | 30 | | established for the county in which the property is located a |
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| 31 | 31 | | preliminary determination of whether the property would qualify for |
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| 32 | 32 | | an exemption under Section 11.131 if purchased by the disabled |
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| 33 | 33 | | veteran and occupied by the disabled veteran as the disabled |
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| 34 | 34 | | veteran's primary residence. The request must include the |
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| 35 | 35 | | information that would be included in an application for an |
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| 36 | 36 | | exemption for the property under Section 11.131. |
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| 37 | 37 | | (c) Not later than the 30th day after the date a request is |
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| 38 | 38 | | submitted under this section, the chief appraiser shall issue a |
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| 39 | 39 | | written preliminary determination for the property included in the |
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| 40 | 40 | | request. A preliminary determination does not affect the granting |
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| 41 | 41 | | of an exemption under Section 11.131. |
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| 42 | 42 | | (d) A mortgage company or title insurance company that |
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| 43 | 43 | | receives from a purchaser of real property a written preliminary |
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| 44 | 44 | | determination issued under this section shall consider the effect |
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| 45 | 45 | | of the preliminary determination: |
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| 46 | 46 | | (1) in determining whether to extend credit to the |
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| 47 | 47 | | purchaser; and |
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| 48 | 48 | | (2) the amount due from the purchaser at closing. |
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| 49 | 49 | | SECTION 2. This Act takes effect September 1, 2023. |
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