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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of an individual, before purchasing real |
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property to be used as the individual's residence homestead, to |
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request from the chief appraiser of the applicable appraisal |
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district a preliminary determination of whether the property would |
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qualify for a disabled veteran exemption if purchased by the |
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individual and used for that purpose. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 11, Tax Code, is amended by |
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adding Section 11.4385 to read as follows: |
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Sec. 11.4385. APPLICATION FOR EXEMPTION BY 100 PERCENT OR |
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TOTALLY DISABLED VETERAN. (a) In this section: |
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(1) "Disabled veteran" has the meaning assigned by |
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Section 11.22. |
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(2) "Mortgage company" has the meaning assigned by |
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Section 156.002, Finance Code. |
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(3) "Residence homestead" has the meaning assigned by |
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Section 11.13. |
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(4) "Title insurance company" has the meaning assigned |
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by Section 2501.003, Insurance Code. |
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(b) To facilitate the financing associated with the |
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purchase of real property to be used as the individual's residence |
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homestead, a disabled veteran, before purchasing the property, may |
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request from the chief appraiser of the appraisal district |
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established for the county in which the property is located a |
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preliminary determination of whether the property would qualify for |
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an exemption under Section 11.131 if purchased by the disabled |
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veteran and occupied by the disabled veteran as the disabled |
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veteran's primary residence. The request must include the |
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information that would be included in an application for an |
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exemption for the property under Section 11.131. |
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(c) Not later than the 30th day after the date a request is |
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submitted under this section, the chief appraiser shall issue a |
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written preliminary determination for the property included in the |
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request. A preliminary determination does not affect the granting |
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of an exemption under Section 11.131. |
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(d) A mortgage company or title insurance company that |
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receives from a purchaser of real property a written preliminary |
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determination issued under this section shall consider the effect |
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of the preliminary determination: |
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(1) in determining whether to extend credit to the |
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purchaser; and |
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(2) the amount due from the purchaser at closing. |
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SECTION 2. This Act takes effect September 1, 2023. |