This website will be unavailable from Thursday, May 30, 2024 at 6:00 p.m. through Monday, June 3, 2024 at 7:00 a.m. due to data center maintenance.
78R2777 JD-F
By: Flores H.B. No. 1125
A BILL TO BE ENTITLED
AN ACT
relating to the period for the redemption of a mineral interest sold
for unpaid ad valorem taxes at a tax sale.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 34.21(a), (b), (c), and (e), Tax Code,
are amended to read as follows:
(a) The owner of real property sold at a tax sale to a
purchaser other than a taxing unit that was used as the residence
homestead of the owner or that was land designated for agricultural
use when the suit or the application for the warrant was filed, or
the owner of a mineral interest sold at a tax sale to a purchaser
other than a taxing unit, may redeem the property on or before the
second anniversary of the date on which the purchaser's deed is
filed for record by paying the purchaser the amount the purchaser
bid for the property, the amount of the deed recording fee, and the
amount paid by the purchaser as taxes, penalties, interest, and
costs on the property, plus a redemption premium of 25 percent of
the aggregate total if the property is redeemed during the first
year of the redemption period or 50 percent of the aggregate total
if the property is redeemed during the second year of the redemption
period.
(b) If property that was used as the owner's residence
homestead or was land designated for agricultural use when the suit
or the application for the warrant was filed, or that is a mineral
interest, is bid off to a taxing unit under Section 34.01(j) or (p)
and has not been resold by the taxing unit, the owner having a right
of redemption may redeem the property on or before the second
anniversary of the date on which the deed of the taxing unit is
filed for record by paying the taxing unit:
(1) the lesser of the amount of the judgment against
the property or the market value of the property as specified in
that judgment, plus the amount of the fee for filing the taxing
unit's deed and the amount spent by the taxing unit as costs on the
property, if the property was judicially foreclosed and bid off to
the taxing unit under Section 34.01(j); or
(2) the lesser of the amount of taxes, penalties,
interest, and costs for which the warrant was issued or the market
value of the property as specified in the warrant, plus the amount
of the fee for filing the taxing unit's deed and the amount spent by
the taxing unit as costs on the property, if the property was seized
under Subchapter E, Chapter 33, and bid off to the taxing unit under
Section 34.01(p).
(c) If real property that was used as the owner's residence
homestead or was land designated for agricultural use when the suit
or the application for the warrant was filed, or that is a mineral
interest, has been resold by the taxing unit under Section 34.05,
the owner of the property having a right of redemption may redeem
the property on or before the second anniversary of the date on
which the taxing unit files for record the deed from the sheriff or
constable by paying the person who purchased the property from the
taxing unit the amount the purchaser paid for the property, the
amount of the fee for filing the purchaser's deed for record, the
amount paid by the purchaser as taxes, penalties, interest, and
costs on the property, plus a redemption premium of 25 percent of
the aggregate total if the property is redeemed in the first year of
the redemption period or 50 percent of the aggregate total if the
property is redeemed in the second year of the redemption period.
(e) The owner of real property sold at a tax sale other than
property that was used as the residence homestead of the owner or
that was land designated for agricultural use when the suit or the
application for the warrant was filed, or that is a mineral
interest, may redeem the property in the same manner and by paying
the same amounts as prescribed by Subsection (a), (b), (c), or (d),
as applicable, except that:
(1) the owner's right of redemption may be exercised
not later than the 180th day following the date on which the
purchaser's or taxing unit's deed is filed for record; and
(2) the redemption premium payable by the owner to a
purchaser other than a taxing unit may not exceed 25 percent.
SECTION 2. (a) This Act takes effect January 1, 2004, but
only if the constitutional amendment proposed by the 78th
Legislature, Regular Session, 2003, to establish a two-year period
for the redemption of a mineral interest sold for unpaid ad valorem
taxes at a tax sale is approved by the voters. If that amendment is
not approved by the voters, this Act has no effect.
(b) This Act applies only to the redemption of a mineral
interest sold at a tax sale for which the purchaser's deed is filed
for record on or after the effective date of this Act. The
redemption of a mineral interest sold at a tax sale for which the
purchaser's deed is filed for record before the effective date of
this Act is covered by the law in effect when the deed is filed, and
the former law is continued in effect for that purpose.