Amend the proposed floor substitute for HB 2491 as follows:
(1) On page 1, between lines 22 and 23, insert the following:
(a-3) A tax lien may be transferred before the delinquency
date in the manner provided on Subsection (a-1) only if the real
property is not subject to a lien other than the tax lien.
(2) On page 1, line 24, strike "(a)" and substitute "(a-1)
[(a)]".
(3) On page 2, beginning at line 29, strike section "(e)" and
insert the following:
(e) A transferee [person] holding a tax lien transferred as
provided by this section may not charge a greater rate of interest
than 18 percent a year on the funds advanced. Funds advanced are
limited to the taxes, penalties, interest, and collection costs
paid as shown on the tax receipt, expenses paid to record the lien,
plus reasonable closing costs [recording expenses paid to acquire
and record the lien].
(4) On page 5, line 20, between the words "a" and "lien"
insert the word "priority".
(5) On page 5, line 10, strike "(a)-(c)" and substitute
"(a)-(b), (d)".
(6) On page 6, delete lines 21 through 25.
(7) On page 6, between lines 25 and 26, insert the following:
(d) Chapters 342 and 346, Finance Code, [and Section
302.102, Finance Code,] do not apply to a transaction covered by
this section. The transferee of a tax lien under this section is not
required to obtain a license under Title 4, Finance Code.
(8) On page 6, line 28, between the words "the" and "amount"
insert the word "approximate".