1-1 By: Madla S.B. No. 935
1-2 (In the Senate - Filed March 6, 1995; March 7, 1995, read
1-3 first time and referred to Committee on Natural Resources;
1-4 April 28, 1995, reported favorably by the following vote: Yeas 8,
1-5 Nays 0; April 28, 1995, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to the rate of interest on and collection fees for unpaid
1-9 assessments by water control and improvement districts.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. Section 51.313, Water Code, is amended to read as
1-12 follows:
1-13 Sec. 51.313. Interest and Collection Fees. (a) All
1-14 assessments shall bear interest from the date payment is due at the
1-15 rate of 15 <10> percent a year.
1-16 (b) If suit is filed to foreclose a lien on crops or if a
1-17 delinquent assessment is collected by any legal proceeding, an
1-18 additional amount of 15 <10> percent on unpaid principal and
1-19 interest shall be added as collection or attorney's fees.
1-20 SECTION 2. The change in law made by Section 51.313, Water
1-21 Code, as amended by this Act, applies only to:
1-22 (1) interest that accrues on an assessment payment
1-23 that comes due on or after the effective date of this Act; and
1-24 (2) a collection fee imposed in a suit or other legal
1-25 proceeding brought on or after the effective date of this Act.
1-26 SECTION 3. This Act takes effect January 1, 1996.
1-27 SECTION 4. The importance of this legislation and the
1-28 crowded condition of the calendars in both houses create an
1-29 emergency and an imperative public necessity that the
1-30 constitutional rule requiring bills to be read on three several
1-31 days in each house be suspended, and this rule is hereby suspended.
1-32 * * * * *