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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of a property owner to enter into a |
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property tax loan if the property is already subject to a lien |
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securing such a loan. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 32.06(a-8), Tax Code, is amended to read |
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as follows: |
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(a-8) A tax lien may not be transferred to the person who |
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pays the taxes on behalf of the property owner under the |
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authorization described by Subsection (a-1) if the real property: |
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(1) has been financed, wholly or partly, with a grant |
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or below market rate loan provided by a governmental program or |
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nonprofit organization and is subject to the covenants of the grant |
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or loan; [or] |
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(2) is encumbered by a lien recorded under Subchapter |
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A, Chapter 214, Local Government Code; or |
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(3) is encumbered by a previously transferred tax |
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lien. |
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SECTION 2. The change in law made by this Act applies only |
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to an ad valorem tax lien transferred on or after the effective date |
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of this Act. An ad valorem tax lien transferred before the |
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effective date of this Act is governed by the law in effect on the |
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date the tax lien was transferred, and the former law is continued |
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in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |