By: Hartnett H.B. No. 1864
73R4488 JD-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the redemption period allowed on property sold for
1-3 taxes.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 34.21, Tax Code, is amended by amending
1-6 Subsection (a) and adding Subsection (d) to read as follows:
1-7 (a) Except as provided in Subsection (d), the <The> owner of
1-8 real property sold at a tax sale may redeem the property within two
1-9 years after the date on which the purchaser's deed is filed for
1-10 record by paying the purchaser the amount he bid for the property,
1-11 the amount of the deed recording fee, and the amount paid by the
1-12 purchaser as taxes, penalties, interest, and costs on the property,
1-13 plus 25 percent of the aggregate total if the property is redeemed
1-14 during the first year of the redemption period or 50 percent of the
1-15 aggregate total if the property is redeemed during the second year
1-16 of the redemption period.
1-17 (d) A municipality may adopt an ordinance to reduce the
1-18 period for a right of redemption for property located in the
1-19 municipality that is sold for the payment of ad valorem taxes,
1-20 referred to in Subsection (a), from two years to one year. An
1-21 ordinance adopted under this subsection must require the
1-22 municipality to establish the following facts to a court of
1-23 competent jurisdiction before a foreclosure sale:
1-24 (1) the ad valorem taxes on the property to be sold
2-1 have been delinquent for at least two years;
2-2 (2) the property is vacant; and
2-3 (3) notice of the action is given to the record owner
2-4 of the property by personal service, certified mail, or
2-5 publication.
2-6 SECTION 2. This Act takes effect on the date on which the
2-7 constitutional amendment proposed by __________J.R. No. ______,
2-8 73rd Legislature, Regular Session, 1993, takes effect. If that
2-9 amendment is not approved by the voters, this Act has no effect.
2-10 SECTION 3. The importance of this legislation and the
2-11 crowded condition of the calendars in both houses create an
2-12 emergency and an imperative public necessity that the
2-13 constitutional rule requiring bills to be read on three several
2-14 days in each house be suspended, and this rule is hereby suspended.