Bill Text: TX HB1287 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to refunds of ad valorem taxes made following the final determination of an appeal that decreases a property owner's tax liability.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-03-01 - Referred to Ways & Means [HB1287 Detail]
Download: Texas-2011-HB1287-Introduced.html
82R3285 CJC-F | ||
By: Villarreal | H.B. No. 1287 |
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relating to refunds of ad valorem taxes made following the final | ||
determination of an appeal that decreases a property owner's tax | ||
liability. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Sections 42.43(b) and (h), Tax Code, are amended | ||
to read as follows: | ||
(b) For a refund made under this section because an | ||
exemption under Section 11.20 that was denied by the chief | ||
appraiser or appraisal review board is granted, the taxing unit | ||
shall include with the refund interest on the amount refunded | ||
calculated at an annual rate that is equal to the auction average | ||
rate quoted on a bank discount basis for three-month treasury bills | ||
issued by the United States government, as published by the Federal | ||
Reserve Board, for the week in which the taxes became delinquent, | ||
but not more than 10 percent, calculated from the delinquency date | ||
for the taxes until the date the refund is made. For any other | ||
refund made under this section, the taxing unit shall include with | ||
the refund interest on the amount refunded at an annual rate that is | ||
equal to the auction average rate quoted on a bank discount basis | ||
for three-month treasury bills issued by the United States | ||
government, as published by the Federal Reserve Board, for the week | ||
in which the taxes became delinquent, but not more than [ |
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percent, calculated from the delinquency date for the taxes until | ||
the date the refund is made. | ||
(h) A separate form must be filed with a taxing unit under | ||
Subsection (g) for each appeal to which the property owner is a | ||
party. A form may be [ |
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filed with the taxing unit by the property owner. | ||
SECTION 2. The changes in law made by this Act apply only to | ||
a refund of ad valorem taxes required by Section 42.43, Tax Code, on | ||
or after the effective date of this Act. A refund required under | ||
that section before the effective date of this Act is governed by | ||
the law in effect when the refund was required, and the former law | ||
is continued in effect for that purpose. | ||
SECTION 3. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2011. |