81st Texas Legislature, Regular Session, House Bill 2071, Chapter 116 Page: 2 of 13
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H.B. No. 2071
1 a subsequent sale, an owner or a person who has agreed by contract
2 to pay the owner's current year property taxes levied against the
3 owner's motor vehicle inventory shall assign a unit property tax to
4 each motor vehicle sold from a dealer's motor vehicle inventory.
5 The unit property tax of each motor vehicle is determined by
6 multiplying the sales price of the motor vehicle by the unit
7 property tax factor. On or before the 10th day of each month the
8 owner shall, together with the statement filed by the owner as
9 required [re.ezi4e4] by this section, deposit with the collector a
10 sum equal to the total of unit property tax assigned to all motor
11 vehicles sold from the dealer's motor vehicle inventory in the
12 prior month to which a unit property tax was assigned. The money
13 shall be deposited by the collector in or otherwise credited by the
14 collector to the owner's escrow account for prepayment of property
15 taxes as provided by this section. An escrow account required by
16 this section is used to pay property taxes levied against the
17 dealer's motor vehicle inventory, and the owner shall fund the
18 escrow account as provided by this subsection.
19 (e) The comptroller shall promulgate a form entitled a
20 Dealer's Motor Vehicle Inventory Tax Statement. Each month, a [A]
21 dealer shall complete the form regardless of whether a [w-i-k-
22 resp t to ca c:] motor vehicle is sold. A dealer may use no other
23 form for that purpose. The statement may include the information
24 the comptroller deems appropriate but shall include at least the
25 following:
26 (1) a description of each [te] motor vehicle sold;
27 (2) the sales price of the motor vehicle;2
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Texas. Legislature. House of Representatives. 81st Texas Legislature, Regular Session, House Bill 2071, Chapter 116, legislative document, May 23, 2009; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth148454/m1/2/: accessed May 5, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.