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Enrolled Bill Summary

Enrolled Bill Summary

Legislative Session: 80(R)

Senate Bill 426

Senate Author:  West, Royce

Effective:  6-16-07

House Sponsor:  Hill

            Senate Bill 426 amends the Tax Code to preserve the property tax exemption for property used to provide low-income or moderate-income housing in the event of a change in ownership as a result of foreclosure if the new owner meets the same criteria that qualified the property for the exemption and submits timely evidence of that fact to the chief appraiser.