81R29080 JE-F
 
  By: Olivo H.B. No. 4692
 
  Substitute the following for H.B. No. 4692:
 
  By:  Oliveira C.S.H.B. No. 4692
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the deferred collection of taxes on the residence
  homestead of an elderly or disabled individual.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 33.06, Tax Code, is amended by adding
  Subsections (g), (h), and (i) to read as follows:
         (g)  If a taxing unit receives payment from a mortgagee or
  other third party for taxes deferred by an individual under this
  section, the taxing unit must return the payment to the mortgagee or
  other third party that made the payment within a reasonable time and
  inform the mortgagee or other third party of the deferral provided
  under this section.
         (h)  If a mortgagee makes a payment to a taxing unit for taxes
  deferred by an individual under this section and the mortgagee
  increases the required amount of the individual's escrow payments
  in connection with the mortgage as a result of the mortgagee's tax
  payment to the taxing unit, after the taxing unit returns the tax
  payment to the mortgagee as required by Subsection (g), the
  mortgagee shall reduce the required amount of escrow payments to
  the appropriate amount calculated as if the tax payment had not been
  made.
         (i)  A mortgagee may not establish an escrow account for the
  payment of taxes deferred by an individual under this section
  without the individual's written consent. This subsection may not
  be waived, voided, or modified by contract.
         SECTION 2.  Section 33.06(i), Tax Code, as added by this Act,
  applies to a mortgage that is issued before, on, or after the
  effective date of this Act.
         SECTION 3.  This Act takes effect September 1, 2009.