By Walker                                             H.B. No. 1247
         76R4759 JD-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the eligibility of heavy equipment dealers to receive a
 1-3     property tax credit or refund for the overpayment of ad valorem
 1-4     taxes.
 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-6           SECTION 1.  Section 23.1242(i), Tax Code, is amended to read
 1-7     as follows:
 1-8           (i)  If the amount in the escrow account is not sufficient to
 1-9     pay the taxes in full, the collector shall apply the money to the
1-10     taxes and deliver to the owner a tax receipt for the partial
1-11     payment and a tax bill for the amount of the deficiency together
1-12     with a statement that the owner must remit to the collector the
1-13     balance of the total tax due.  If the amount in the escrow account
1-14     exceeds the amount of the taxes due, the owner, at the owner's
1-15     election, is entitled to receive:
1-16                 (1)  a refund of the excess amount; or
1-17                 (2)  a credit in the amount of the excess amount to be
1-18     credited to the owner's escrow account for prepayment of taxes
1-19     imposed in the following tax year.
1-20           SECTION 2.  This Act takes effect September 1, 1999, and
1-21     applies only to the payment of taxes imposed in 1999 or a
1-22     subsequent tax year.
1-23           SECTION 3.  The importance of this legislation and the
1-24     crowded condition of the calendars in both houses create an
 2-1     emergency and an imperative public necessity that the
 2-2     constitutional rule requiring bills to be read on three several
 2-3     days in each house be suspended, and this rule is hereby suspended.