By Dutton H.B. No. 858 77R1888 SMH-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the effect of a deed of conveyance of tax foreclosed 1-3 property resold by a municipality for urban redevelopment purposes. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 34.051, Tax Code, is amended by amending 1-6 Subsection (c) and adding Subsection (d) to read as follows: 1-7 (c) The deed of conveyance of property sold under this 1-8 section conveys to the purchaser the right, title, and interest 1-9 acquired or held by each taxing unit that was a party to the 1-10 judgment of foreclosure, subject to any remaining right of 1-11 redemption at the time of the sale. 1-12 (d) An action attacking the validity of a sale of property 1-13 pursuant to this section may not be instituted after the expiration 1-14 of one year after the date of the sale and then only after the 1-15 unconditional tender into the registry of the court of an amount 1-16 equal to all taxes, penalties, interest, costs, and post-judgment 1-17 interest of all judgments on which the original foreclosure sale 1-18 was based. 1-19 SECTION 2. This Act takes effect immediately if it receives 1-20 a vote of two-thirds of all the members elected to each house, as 1-21 provided by Section 39, Article III, Texas Constitution. If this 1-22 Act does not receive the vote necessary for immediate effect, this 1-23 Act takes effect September 1, 2001.