82R3285 CJC-F
 
  By: Villarreal H.B. No. 1287
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  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 [of] eight
  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 [remains in effect for all subsequent refunds
  required by this section until] revoked in a written revocation
  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.