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A BILL TO BE ENTITLED
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AN ACT
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relating to notice of excess proceeds following an ad valorem tax |
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sale. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 34.03(a), Tax Code, is amended to read as |
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follows: |
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(a) The clerk of the court shall: |
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(1) if the amount of excess proceeds is more than $25, |
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before the 31st day after the date the excess proceeds are received |
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by the clerk, send by certified mail, return receipt requested, a |
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written notice to the former owner of the property, at the former |
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owner's last known address according to the records of the court or |
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any other source reasonably available to the court, that: |
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(A) states the amount of the excess proceeds; |
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(B) informs the former owner of that owner's |
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rights to claim the excess proceeds under Section 34.04; and |
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(C) includes a copy or the complete text of this |
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section and Section 34.04; [and] |
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(2) regardless of the amount, keep the excess proceeds |
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paid into court as provided by Section 34.02(d) [34.02(c)] for a |
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period of two years after the date of the sale unless otherwise |
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ordered by the court; and |
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(3) regardless of the amount, send to the attorney |
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general notice of the deposit and amount of excess proceeds if the |
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attorney general or a state agency represented by the attorney |
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general is named as an in rem defendant in the underlying suit for |
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seizure of the property or foreclosure of a tax lien on the |
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property. |
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SECTION 2. The change in law made by this Act applies to the |
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disposition of excess proceeds of a property tax foreclosure sale |
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paid into court regardless of the date on which the foreclosure sale |
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occurred or the date on which the proceeds were paid into the court. |
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If on the effective date of this Act the clerk of a court is |
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retaining excess proceeds and Section 34.03(a)(3), Tax Code, as |
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added by this Act, applies, the clerk shall mail the notice required |
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by that subdivision as soon as practicable after the effective date |
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of this Act. The clerk may not distribute those proceeds as |
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provided by Section 34.03(b), Tax Code, before the second |
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anniversary of the date the notice is mailed. A claim for the |
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proceeds made on or before that second anniversary is considered to |
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have been made within the period provided by Section 34.03(b), Tax |
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Code. |
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SECTION 3. This Act takes effect September 1, 2015. |
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