89R13682 PRL-F     By: Dorazio H.B. No. 3903       A BILL TO BE ENTITLED   AN ACT   relating to the persons who are authorized to request a payoff   statement from a property tax lender.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Sections 32.06(a-4) and (a-6), Tax Code, are   amended to read as follows:          (a-4)  The Finance Commission of Texas shall:                (1)  prescribe the form and content of an appropriate   disclosure statement to be provided to a property owner before the   execution of a tax lien transfer;                (2)  adopt rules relating to the reasonableness of   closing costs, fees, and other charges permitted under this   section;                (3)  by rule prescribe the form and content of the sworn   document under Subsection (a-1) and the certified statement under   Subsection (b); and                (4)  by rule prescribe the form and content of a request   a lender with an existing recorded lien on the property, a property   owner, or a person authorized by the property owner must use to   request a payoff statement and the transferee's response to the   request, including the period within which the transferee must   respond.          (a-6)  Notwithstanding Subsection (f-3), a person [lender]   described by Subsection (a-4)(4) may request a payoff statement   before the tax loan becomes delinquent.  The Finance Commission of   Texas by rule shall require a transferee who receives a request for   a payoff statement to deliver to the requesting lender, property   owner, or person authorized by the property owner the requested   payoff statement on the prescribed form within a period prescribed   by finance commission rule.  The prescribed period must allow the   transferee at least seven business days after the date the request   is received to deliver the payoff statement.  The consumer credit   commissioner may assess an administrative penalty under Subchapter   F, Chapter 14, Finance Code, against a transferee who wilfully   fails to provide the payoff statement as prescribed by finance   commission rule.          SECTION 2.  As soon as practicable after the effective date   of this Act, the Finance Commission of Texas shall adopt rules   necessary to implement the changes in law made by this Act.          SECTION 3.  This Act takes effect September 1, 2025.