S.B. No. 935
AN ACT
1-1 relating to the rate of interest on and collection fees for unpaid
1-2 assessments by water control and improvement districts.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 51.313, Water Code, is amended to read as
1-5 follows:
1-6 Sec. 51.313. Interest and Collection Fees. (a) All
1-7 assessments shall bear interest from the date payment is due at the
1-8 rate of 15 <10> percent a year.
1-9 (b) If suit is filed to foreclose a lien on crops or if a
1-10 delinquent assessment is collected by any legal proceeding, an
1-11 additional amount of 15 <10> percent on unpaid principal and
1-12 interest shall be added as collection or attorney's fees.
1-13 SECTION 2. The change in law made by Section 51.313, Water
1-14 Code, as amended by this Act, applies only to:
1-15 (1) interest that accrues on an assessment payment
1-16 that comes due on or after the effective date of this Act; and
1-17 (2) a collection fee imposed in a suit or other legal
1-18 proceeding brought on or after the effective date of this Act.
1-19 SECTION 3. This Act takes effect January 1, 1996.
1-20 SECTION 4. The importance of this legislation and the
1-21 crowded condition of the calendars in both houses create an
1-22 emergency and an imperative public necessity that the
1-23 constitutional rule requiring bills to be read on three several
1-24 days in each house be suspended, and this rule is hereby suspended.