HB998 - Relating to the authority of an individual, before purchasing real property to be used as the individual's residence homestead, to request from the chief appraiser of the applicable appraisal district a preliminary determination of whether the property would qualify for a disabled veteran exemption if purchased by the individual and used for that purpose.

      By: Toth H.B. No. 998       A BILL TO BE ENTITLED   AN ACT   relating to the authority of an individual, before purchasing real   property to be used as the individual's residence homestead, to   request from the chief appraiser of the applicable appraisal   district a preliminary determination of whether the property would   qualify for a disabled veteran exemption if purchased by the   individual and used for that purpose.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter C, Chapter 11, Tax Code, is amended by   adding Section 11.4385 to read as follows:           Sec.   11.4385.     APPLICATION FOR EXEMPTION BY 100 PERCENT OR   TOTALLY DISABLED VETERAN. (a)   In this section:                 (1)     "Disabled veteran" has the meaning assigned by   Section 11.22.                 (2)     "Mortgage company" has the meaning assigned by   Section 156.002, Finance Code.                 (3)     "Residence homestead" has the meaning assigned by   Section 11.13.                 (4)     "Title insurance company" has the meaning assigned   by Section 2501.003, Insurance Code.           (b)     To facilitate the financing associated with the   purchase of real property to be used as the individual's residence   homestead, a disabled veteran, before purchasing the property, may   request from the chief appraiser of the appraisal district   established for the county in which the property is located a   preliminary determination of whether the property would qualify for   an exemption under Section 11.131 if purchased by the disabled   veteran and occupied by the disabled veteran as the disabled   veteran's primary residence.   The request must include the   information that would be included in an application for an   exemption for the property under Section 11.131.           (c)     Not later than the 30th day after the date a request is   submitted under this section, the chief appraiser shall issue a   written preliminary determination for the property included in the   request.   A preliminary determination does not affect the granting   of an exemption under Section 11.131.           (d)     A mortgage company or title insurance company that   receives from a purchaser of real property a written preliminary   determination issued under this section shall consider the effect   of the preliminary determination:                 (1)     in determining whether to extend credit to the   purchaser; and                 (2)  the amount due from the purchaser at closing.          SECTION 2.  This Act takes effect September 1, 2025.