Bill: HB 1936, 84(R) - 2015
Committee
House Business & Industry
Vote Recommendation
Vote Recommendation |
Economic Freedom |
Property Rights |
Personal Responsibility |
Limited Government |
Individual Liberty |
No |
Negative |
Negative |
Neutral |
Negative |
Neutral |
Author(s)
Rene Oliveira
Co-Author(s)
Charles Anderson
Dan Flynn
Bill Caption
Relating to notice by a property owner to a mortgage servicer that the owner intends to enter into a contract with a property tax lender.
Fiscal Notes
No significant fiscal impact to the State or local governments is expected.
Bill Analysis
HB 1936 amends the Tax Code to require a property owner, not later than the 10th day before
the date the property owner executes a contract with a transferee authorizing the transferee to
pay delinquent property taxes on the property, to send by certified mail to any applicable
mortgage servicer a notice that the property owner intends to enter into the contract.
Vote Recommendation Notes
HB 1936 seeks to close a market solution that provides Texas property owners a reasonable and cost-effective channel to solve their tax obligation. HB 1936 would restrict and delay access to tax lien transfers that help Texans from foreclosing on their property. With interest rates rising substantially faster than annual incomes it is important for the legislature to protect the Texans who are attempting to rectify their tax debt and maintain their property. We are opposed to this legislation.