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A BILL TO BE ENTITLED
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AN ACT
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relating to the deferred collection of taxes on the residence |
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homestead of an elderly or disabled individual. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 33.06, Tax Code, is amended by adding |
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Subsections (g), (h), and (i) to read as follows: |
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(g) If a taxing unit receives payment from a mortgagee or |
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other third party for taxes deferred by an individual under this |
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section, the taxing unit must return the payment to the mortgagee or |
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other third party that made the payment within a reasonable time and |
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inform the mortgagee or other third party of the deferral provided |
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under this section. |
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(h) If a mortgagee makes a payment to a taxing unit for taxes |
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deferred by an individual under this section and the mortgagee |
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increases the required amount of the individual's escrow payments |
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in connection with the mortgage as a result of the mortgagee's tax |
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payment to the taxing unit, after the taxing unit returns the tax |
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payment to the mortgagee as required by Subsection (g), the |
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mortgagee shall reduce the required amount of escrow payments to |
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the appropriate amount calculated as if the tax payment had not been |
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made. |
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(i) A mortgagee may not establish an escrow account for the |
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payment of taxes deferred by an individual under this section |
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without the individual's written consent. This subsection may not |
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be waived, voided, or modified by contract. |
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SECTION 2. Section 33.06(i), Tax Code, as added by this Act, |
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applies to a mortgage that is issued before, on, or after the |
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effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2009. |