1-1 By: Keffer (Senate Sponsor - Staples) H.B. No. 394
1-2 (In the Senate - Received from the House April 2, 2001;
1-3 April 3, 2001, read first time and referred to Committee on
1-4 Intergovernmental Relations; May 2, 2001, reported favorably by the
1-5 following vote: Yeas 6, Nays 0; May 2, 2001, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to a going out of business sale.
1-9 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-10 SECTION 1. Section 17.83(a), Business & Commerce Code, is
1-11 amended to read as follows:
1-12 (a) To conduct a going out of business sale, a person must
1-13 file an original inventory with the chief appraiser [county clerk]
1-14 of the appraisal district [county] in which the person's principal
1-15 place of business in the state is located. The original inventory
1-16 must be accompanied by a filing fee of $20.
1-17 SECTION 2. Subchapter F, Chapter 17, Business & Commerce
1-18 Code, is amended by adding Section 17.835 to read as follows:
1-19 Sec. 17.835. NOTICE OF FILING OF ORIGINAL INVENTORY. Not
1-20 later than the fifth business day after the date on which a person
1-21 files an original inventory under Section 17.83, the chief
1-22 appraiser shall send notice of the filing to the comptroller, the
1-23 county clerk of the county in which the person's principal place of
1-24 business in the state is located, and the tax collector for each of
1-25 the taxing units that tax the property described in the original
1-26 inventory.
1-27 SECTION 3. Section 17.84(a), Business & Commerce Code, is
1-28 amended to read as follows:
1-29 (a) After receiving an original inventory, the chief
1-30 appraiser [county clerk] shall issue to the applicant a permit for
1-31 a going out of business sale. The permit is valid for 120 days
1-32 after the day that it is issued and is not renewable.
1-33 SECTION 4. Section 17.86, Business & Commerce Code, is
1-34 amended to read as follows:
1-35 Sec. 17.86. SALE INVENTORY. Before the end of each 30-day
1-36 period during the going out of business sale the permit holder
1-37 shall file with the chief appraiser [county clerk] a sale inventory
1-38 containing a complete and detailed list of the goods, wares, and
1-39 merchandise listed in the original inventory that have not been
1-40 sold before the date that the sale inventory is filed. A sale
1-41 inventory must list items offered on the beginning date of the sale
1-42 separately from the items added to the sale inventory after that
1-43 date.
1-44 SECTION 5. Section 17.87, Business & Commerce Code, is
1-45 amended to read as follows:
1-46 Sec. 17.87. FINAL INVENTORY. Within 30 days after the day
1-47 that the going out of business sale ends, the permit holder shall
1-48 file with the chief appraiser [county clerk] a final inventory.
1-49 The final inventory must include:
1-50 (1) the name and address of the permit holder;
1-51 (2) a statement of the disposition of the items listed
1-52 in the original inventory that were not sold during the going out
1-53 of business sale and the name and address of any person purchasing
1-54 those items after the ending date of the sale; and
1-55 (3) a description of the place where the sale was
1-56 held.
1-57 SECTION 6. This Act takes effect September 1, 2001, and
1-58 applies only to a going out of business sale for which an original
1-59 inventory is filed on or after the effective date of this Act. A
1-60 going out of business sale for which an original inventory is filed
1-61 before the effective date of this Act is governed by the law in
1-62 effect on the date that the inventory is filed, and the former law
1-63 is continued in effect for that purpose.
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