1-1 By: Wentworth S.B. No. 969 1-2 (In the Senate - Filed March 5, 1997; March 10, 1997, read 1-3 first time and referred to Committee on Intergovernmental 1-4 Relations; April 3, 1997, reported favorably by the following vote: 1-5 Yeas 10, Nays 0; April 3, 1997, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to the resale of property sold to a taxing unit pursuant 1-9 to foreclosure of an ad valorem tax lien. 1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-11 SECTION 1. Subsection (d), Section 34.05, Tax Code, is 1-12 amended to read as follows: 1-13 (d) Except as provided by this subsection, all public sales 1-14 requested as provided by Subsection (c) of this section shall be 1-15 conducted in the manner prescribed by the Rules of Civil Procedure 1-16 for the sale of property under execution. The notice of the sale 1-17 must contain a description of the property to be sold, which must 1-18 be a legal description in the case of real property, the number and 1-19 style of the suit under which the property was sold at the tax 1-20 foreclosure sale, and the date of the tax foreclosure sale. If the 1-21 commissioners court of a county by order specifies the date or time 1-22 at which or location in the county where a public sale requested 1-23 under Subsection (c) of this section shall be conducted, the sale 1-24 shall be conducted on the date and at the time and location 1-25 specified in the order. The officer conducting the sale shall 1-26 reject any bid for the property if it is his judgment that the 1-27 amount bid is insufficient. If all bids are insufficient, the 1-28 property shall be readvertised and offered for sale again. The 1-29 acceptance of a bid by the officer conducting the sale is 1-30 conclusive and binding on the question of its sufficiency. An 1-31 action to set aside the sale on the grounds that the bid is 1-32 insufficient may not be sustained in court, except that a taxing 1-33 unit that participates in distribution of proceeds of the sale may 1-34 file an action within one year after the date of the sale to set 1-35 aside the sale on the grounds of fraud or collusion between the 1-36 officer making the sale and the purchaser. 1-37 SECTION 2. This Act takes effect September 1, 1997, and 1-38 applies only to a public sale requested by a taxing unit on or 1-39 after that date. 1-40 SECTION 3. The importance of this legislation and the 1-41 crowded condition of the calendars in both houses create an 1-42 emergency and an imperative public necessity that the 1-43 constitutional rule requiring bills to be read on three several 1-44 days in each house be suspended, and this rule is hereby suspended. 1-45 * * * * *