90th General Assembly
Summary of HB1283
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House Sponsors:
SANTIAGO-BLACK.

Senate Sponsors:
FARLEY-HENDON-LINK

Short description: 
PROP TX-DEFAULT-MORTGAGEE                                                  

Synopsis of Bill as introduced:
        Amends the Property Tax Code.  Provides  that,  when  any  unpaid      
   taxes  become delinquent through the fault of the mortgage lender, the      
   lender shall  pay  the  taxes,  redeem  the  property,  and  take  all      
   necessary  steps  to  remove  any  liens accruing against the property      
   because of the delinquency.   Provides  that  unpaid  taxes  shall  be      
   deemed  delinquent  through  the fault of the lender if the lender has      
   received all payments due the lender  for  the  property  being  taxed      
   under  the  written terms of the mortgage or promissory note (now, the      
   lender has received all payments due the lender for the property being      
   taxed, the lender holds funds in escrow to  pay  the  taxes,  and  the      
   funds  are  sufficient  to  pay  the taxes after deducting all amounts      
   reasonably anticipated to become due for certain insurance premiums         
   and other assessments to be paid from the escrow).                          
          STATE MANDATES FISCAL NOTE                                           
          In the opinion of DCCA, HB1283 fails to create a State mandate       
          under the State Mandates Act.                                        
          FISCAL NOTE (Dept. of Revenue)                                       
          There will be no fiscal impact on this Dept.                         
 
Last action on Bill: PUBLIC ACT.............................. 90-0336

   Last action date: 97-08-08

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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