Amend SB 1421 on third reading by adding the following appropriately numbered SECTIONS to the bill and renumbering subsequent SECTIONS of the bill accordingly:

SECTION ____.  Sections 41.413(d) and (e), Tax Code, are amended to read as follows:

(d)  An [A property] owner of real property shall send to a person leasing property under a contract described by Subsection (b) [this section] a copy of any notice of appraised value of the property received by the property owner. The property owner must send the notice not later than the 10th day after the date the property owner receives the notice. Failure of the property owner to send a copy of the notice to the person leasing the property does not affect the time within which the person leasing the property may protest the appraised value. This subsection does not apply if the property owner and the person leasing the property have agreed in the contract to waive the requirements of this subsection or that the person leasing the property will not protest the appraised value of the property.

(e)  A person leasing real property under a contract described by Subsection (b) [this section] may request that the chief appraiser of the appraisal district in which the property is located send the notice described by Subsection (d) to the person. Except as provided by Subsection (f), the chief appraiser shall send the notice to the person leasing the property not later than the fifth day after the date the notice is sent to the property owner if the person demonstrates that the person is contractually obligated to reimburse the property owner for the taxes imposed on the property.

SECTION ____.  The changes in law made by this Act to Section 41.413(d) and (e), Tax Code, apply only to a notice of appraised value received by a property owner on or after the effective date of this Act.