17
Feature
underwriting standards for evaluating applications
for low income housing tax credits. Sets basic
guidelines for underwriting at time of cost
certification. If economic conditions change,
TDHCA may increase the maximum debt coverage
ratio (DCR) to be used by adoption of rule and
certain types of transactions may be accepted.
Effective Sept. 1, 2015.
PROPERTY TAX APPRAISALS
SB 593 (Sen. Watson/Rep. Darby)
Relating
to the award of attorney's fees in a
judicial appeal of certain ad valorem tax
determinations.
Allows a property owner or an
appraisal district that is a party to an ad valorem
tax appeal to request in writing and prior to trial
that the parties engage in settlement discussions,
including through an informal settlement
conference or a form of alternative dispute
resolution. Requires the court, on motion of either
party, to enter orders specifying the form that the
settlement discussions must take or changing
a deadline to designate experts. Requires the
settlement discussions to be held within 120 days
of the written request and requires the parties
to make a good faith effort to resolve the matter
under appeal. The deadline for a party seeking
affirmative relief to designate experts for the
appeal is 60 days before the date of trial and the
deadline for all other experts to be designated
is 30 days before the trial date. Prohibits an
appraisal district from requesting or requiring a
property owner to waive a right as a condition of
attending a settlement discussion.
Effective Immediately.
SB 849 (Sen. Bettencourt/Rep. Elkins)
Relating to access to and fees associated
with binding arbitration of appraisal
review board orders.
Allows the owner of
property valued at $3 million or less (rather than
$1 million or less under existing law) to go to
binding arbitration in connection with an appeal
of an appraisal review board order. Establishes
a fee schedule for an application for binding
arbitration and for the fee for the arbitrator based
on the appraised value of the property.
Effective Sept. 1, 2015.
SB 1420 (Sen. Hancock/Rep. Murphy)
Relating to notices of appraised value
sent to property owners by the chief
appraisers of appraisal districts.
Requires
the appraisal notice to include an exemption or
partial exemption approved for the property in the
preceding year that was canceled or reduced for
the current year.
Effective Jan. 1, 2016.
SB 1760 (Sen. Creighton/Rep. D.
Bonnen)
Relating to the transparent
and equitable application of ad valorem
taxation procedures.
Allows a property
owner to designate an agent to receive funds.
Provides that a taxpayer does not have to apply
for a refund resulting from a late homestead
exemption application or from a correction in
the tax roll. Requires 60% of the governing body
of a taxing unit to adopt a tax rate greater than
the effective rate. Requires the notice of a public
hearing at which a tax rate increasing the total
amount of revenue will be adopted to include a
statement of how the governing body plans to
use the additional revenue. Requires the notice of
a school district ratification election to state the
purpose of the proposed rate increase. Allows a
court to give preference to the testimony of an
appraisal district employee authorized to perform
an appraisal of real estate. Raises the interest rate
on a refund resulting from a judicial appeal to
9.5%. Requires local governments proposing to
adopt a tax rate exceeding the effective tax rate
or the rollback rate to state the purpose for the
additional revenue. Extends the time a taxing unit
must file a tax rate notice from September 1 to
October 1 or the 30 days after the unit receives
the certified roll.
Effective Jan. 1, 2016.
REAL ESTATE
HB 311 (Rep. Canales/Sen. Lucio)
Relating to an executory contract for
the conveyance of real property.
Clarifies
legal proceedings surrounding an executory
contract (contracts for deed) for the sale of real
property. Streamlines the title conversion process
for contracts for deed so title is conveyed to the
purchaser, giving the purchaser protection, while
the seller still retains a lien on the property at the
same terms of the original contract. Encourages
contracts for deed to be recorded so that other
buyers, lenders and title companies know that a
property has been sold.
Effective Sept. 1, 2015.
would have been more than $410 million in
one year alone.
Builder and Contractor
Registration Requirement
• TAB worked to halt the movement of bills
that negatively singled out the construction
and building industry.
• Such bills included making fundamental
changes to the home building industry by
requiring construction contractors to register
with the Texas Commission of Licensing
and Regulation (TDLR); unintentionally
creating deceptive trade penalties for
certain construction activities; and,
requiring builders to provide unreasonable
notices to subcontractors.
Mandatory Workers Compensation Bills
• TAB worked hard to ensure burdensome
provisions regarding mandatory workers
compensation did not place unnecessary
regulation and mandates on the home
building industry.
County Land Use Authority
• As usual, the 84
th
Legislative Session
saw the filling of various bills that would
have given counties unreasonable and
unnecessary land use authority.
• TAB worked diligently to defeat such
provisions or to work with bill authors to
correct offending language.
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*
Denotes a TAB Priority Bill
