1-1     By:  Dutton (Senate Sponsor - Staples)                 H.B. No. 858
 1-2           (In the Senate - Received from the House April 9, 2001;
 1-3     April 9, 2001, read first time and referred to Committee on
 1-4     Intergovernmental Relations; May 9, 2001, reported favorably by the
 1-5     following vote:  Yeas 6, Nays 0; May 9, 2001, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to the effect of a deed of conveyance of tax foreclosed
 1-9     property resold by a municipality for urban redevelopment purposes.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1.  Section 34.051, Tax Code, is amended by amending
1-12     Subsection (c) and adding Subsection (d) to read as follows:
1-13           (c)  The deed of conveyance of property sold under this
1-14     section conveys to the purchaser the right, title, and interest
1-15     acquired or held by each taxing unit that was a party to the
1-16     judgment of foreclosure, subject to any remaining right of
1-17     redemption at the time of the sale.
1-18           (d)  An action attacking the validity of a sale of property
1-19     pursuant to this section may not be instituted after the expiration
1-20     of one year after the date of the sale and then only after the
1-21     unconditional tender into the registry of the court of an amount
1-22     equal to all taxes, penalties, interest, costs, and post-judgment
1-23     interest of all judgments on which the original foreclosure sale
1-24     was based.
1-25           SECTION 2.  This Act takes effect immediately if it receives
1-26     a vote of two-thirds of all the members elected to each house, as
1-27     provided by Section 39, Article III, Texas Constitution.  If this
1-28     Act does not receive the vote necessary for immediate effect, this
1-29     Act takes effect September 1, 2001.
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