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A BILL TO BE ENTITLED
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AN ACT
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relating to installment payments of ad valorem taxes on property in |
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a disaster area. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 31.032, Tax Code, is amended by amending |
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Subsections (a) and (c) and adding Subsection (h) to read as |
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follows: |
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(a) This section applies only to: |
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(1) real property that: |
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(A) [is the residence homestead of the owner or
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consists of property that is used for residential purposes and that
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has fewer than five living units;
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[(B)] is located in a disaster area; [and] |
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(B) [(C)] has been damaged as a direct result of |
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the disaster; and |
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(C) if the property is owned or leased by a |
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business entity, is owned or leased by a business entity that had |
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not more than the amount provided by Subsection (h) in gross |
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receipts in the entity's most recent federal tax year or state |
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franchise tax annual period, according to the applicable federal |
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income tax return or state franchise tax report of the entity; and |
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(2) taxes that are imposed on the property by a taxing |
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unit before the first anniversary of the disaster. |
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(c) If the person fails to make a payment before the |
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applicable date provided by Subsection (b), the unpaid amount is |
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delinquent and incurs a penalty of six [12] percent and interest as |
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provided by Section 33.01(c). |
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(h) For the 2009 tax year, the limit on gross receipts under |
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Subsection (a)(1)(C) is $5 million. For each subsequent tax year, |
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the comptroller shall adjust the limit to reflect inflation by |
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using the index that the comptroller considers to most accurately |
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report changes in the purchasing power of the dollar for consumers |
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in this state and shall publicize the adjusted limit. Each |
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collector shall use the adjusted limit as calculated by the |
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comptroller under this subsection to determine whether property is |
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owned or leased by a business entity described by Subsection |
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(a)(1)(C). |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |