BILL ANALYSIS

H.B. 587

                                                                                                                                             By: Rose

Ways & Means

Committee Report (Unamended)

BACKGROUND AND PURPOSE

Under current law, a county may set up escrow accounts for the monthly payment of property taxes. As proposed, H.B. 587 requires a collector to establish an escrow account if the property owner requesting it is a disabled veteran as defined by Section 11.22 of the Tax Code or a recipient of the Purple Heart.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. 

ANALYSIS

H.B. 587 requires that the collector for a taxing unit establish an escrow account for a property owner who is a disabled veteran or Purple Heart recipient.

EFFECTIVE DATE

Upon passage, or if the Act does not receive the necessary vote, the Act takes effect September 1, 2005.