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2015 Regular Session
At the request of:
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Bill Title: Relating to liens for personal property taxes; and prescribing an effective date.
Catchline/Summary: Authorizes county tax collector to transmit electronic notices of warrants for delinquent taxes on business personal property to Secretary of State for filing in Uniform Commercial Code (UCC) system.
Requires tax collector who files electronic notice of warrant to file electronic notice of release or cancellation of warrant if amount due on warrant is paid in full or canceled. Provides that electronic notices of warrants expire after 10 years and provides for one-time 10-year extension. Requires Secretary of State to provide public with access to filed electronic notices of warrants and release or cancellation. Requires seller of business personal property to provide prospective purchaser with notice disclosing outstanding property taxes on property and certain other information relating to property. Grants bona fide purchaser status for person that purchases business personal property in good faith, for value, in arm's-length transaction and without notice of delinquent property taxes. Provides that bona fide purchaser is not liable for property taxes delinquent on date property is purchased or for interest or fees related to delinquent taxes. Authorizes tax collector to accept compromise payment from purchaser of business personal property that is less than delinquent taxes outstanding on date of purchase transaction. Provides that total amount of delinquent taxes remains as personal liability of owner or person in possession or control of property on assessment date and as lien against other property of owner or person in control of property. Requires refund of compromise payment if total amount of delinquent taxes is received. Takes effect on 91st day following adjournment sine die.
Chapter Number: Chapter 444
Fiscal Impact: Has Minimal Fiscal Impact
Revenue Impact: Has Minimal Revenue Impact
Measure Analysis: Staff Measure Summary / Impact Statements
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Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
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