Complicated tax lien bill attracts attention via Dallas Business Journal

A large crowd packed the Senate Committee on Business and Commerce’s hearing Tuesday for a bill related to the transfer of ad valorem tax liens.

State Sen. John Carona’s Senate Bill 247 removes non-judicial foreclosure and prohibits the transfer of a lien from a licensed to a non-licensed entity. About $6 billion in liens come up for sale each year in 28 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands, Forbes reports. Enough of that money is changing hands in Texas — loan balances on delinquent accounts totaled nearly $65 million in 2011, according to a report by the Finance Commission of Texas — to make those affected and involved care about this particular bill.

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