By Corte                                              H.B. No. 2981
         Line and page numbers may not match official copy.
         Bill not drafted by TLC or Senate E&E.
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to incentives for early payment of certain motor vehicle
 1-3     taxes.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1.  Chapter 334, Local Government Code, is amended by
 1-6     adding Section 334.116 to read as follows:
 1-7           Sec. 334.116.  DEDUCTION FOR EARLY PAYMENT.  Every owner of a
 1-8     motor vehicle collecting a tax under this article may deduct one
 1-9     percent from the gross amount of tax collected on all rentals in
1-10     the preceding month if the tax is paid to and received by the
1-11     entity collecting the tax no later than the 15th day of the month
1-12     following the month in which the taxes are required to be
1-13     collected.  If the 15th day falls on a weekend or holiday, the
1-14     entity collecting the tax must receive the tax by the next business
1-15     day.  If the tax is paid by mail, the date of receipt by the
1-16     director is the date postmarked by the U.S. Postal Service.
1-17           SECTION 2.  This Act takes effect September 1, 2001.