Amend the Swinford amendment to SB 1863 by adding new SECTION 
to read as follows:
	SECTION __. Amend section 152.047 of the Tax Code to read as 
follows:        
	Sec. 152.047.  COLLECTION OF TAX ON SELLER-FINANCED SALE.                      
	(a)  Except as inconsistent with this chapter and rules 
adopted under this chapter, the seller of a motor vehicle shall 
report and pay the tax imposed on a seller-financed sale to the 
comptroller on the seller's receipts from seller-financed sales in 
the same manner as the sales tax is reported and paid by a retailer 
under Sections 151.401, 151.402, 151.405, 151.406, 151.409, 
151.423, 151.424, and 151.425.
	(b)  If a note, mortgage, account receivable, or other 
document evidencing the purchaser's indebtedness to the seller of a 
vehicle sold subject to a seller-financed sale does to bear 
interest, it will be conclusively presumed that the total 
consideration for the sale is principal.
	(c)  If a note, mortgage, account receivable, or other 
document evidencing the purchaser's indebtedness to the seller of a 
vehicle sold subject to a seller-financed sale bears interest, it 
is conclusively presumed that interest accrues and is paid by the 
purchaser on a straight line basis.
	(d)  The seller shall add the tax imposed on a seller-financed 
sale to the sales price of the vehicle sold, and when added, the tax 
is:
		(1)  a part of the sales price;                                               
		(2)  a debt owed to the seller by the purchaser; and                          
		(3)  recoverable at law in the same manner as the sales 
price.              
	(e)  Regardless of the accounting method used by the seller, 
the seller shall collect and pay the tax imposed on a 
seller-financed sale to the comptroller as the seller receives the 
proceeds of the sale.
	(f)  If the seller fails to apply, not later than the 60th day 
after the date the motor vehicle is delivered to the purchaser, for 
registration and a Texas certificate of title for a motor vehicle 
sold in a seller-financed sale in accordance with Section 152.069, 
the seller is liable for all unpaid tax on the total consideration, 
and the tax is due and must be sent to the comptroller with the first 
report after the expiration of the prescribed period.
	(g)  If a seller factors, assigns, or otherwise transfers the 
right to receive payments, all unpaid tax is due on the total 
consideration not reported at the time the agreement is factored, 
assigned, or otherwise transferred. The seller shall report and 
submit the tax in the report period in which the right to receive 
the payment is factored, assigned, or otherwise transferred. The 
seller may not take a deduction in the amount of tax due if a 
transfer at a discount is made.
	(h)  Subject to Subsection (i), a person to whom a seller 
assigns the right to receive payments under subsection (g) is 
entitled to a credit or reimbursement for tax paid on the portion of 
an account determined to be worthless and actually charged off for 
federal income tax purposes.
	(i)  An assignee is entitled to a credit or reimbursement 
provided by Subsection (h) only if:
		(1)  the seller:                                                       
			(A)  was a motor vehicle dealer who held a dealer 
license issued under Chapter 503, Transportation Code, at the time 
the motor vehicle was sold; and
			(B)  remitted the tax for which the credit or 
reimbursement is sought; and
		(2)  the assignee provides records showing:                            
			(A)  the total consideration the purchaser 
contracted to pay;       
			(B)  the unpaid portion of the total consideration 
assigned to the assignee;
			(C)  the portion of the total consideration paid 
by the purchaser;  
			(D)  the tax remitted by the seller;                                  
			(E)  the number of the permit issued to the seller 
under Section 152.065;
			(F)  if required by the comptroller, a copy of the 
tax receipt issued by a county tax assesor-collector under Section 
152.064 or other evidence of the tax paid; and
			(G)  a copy of a document or documents evidencing 
the purchaser's indebtedness to the seller and the assignment of 
the seller's right to receive payments to the assignee.
	(j) (h)  The comptroller may proceed against the purchaser in 
a seller-financed sale for the amount of any tax not paid by the 
purchaser.
	(k) (i)  The comptroller shall adopt rules and promulgate 
forms necessary to implement this section.