LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION March 13, 2009 TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB406 by Rodriguez (Relating to claims for excess proceeds of a tax sale of real property.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Chapter 34 of the Tax Code, regarding tax sales of real property, to place additional restrictions on an owner's claim to excess proceeds resulting from a tax sale. The bill would place additional restrictions on the assignment or transfer of an owner's interest, as well as limit participation by agents in the owners recovery. The bill could have a slight effect on the allocation of excess proceeds between previous owners and taxing units. The bill could also slightly affect the recovery of some former owners. The bill would take effect September 1, 2009. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, MN, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
March 13, 2009
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB406 by Rodriguez (Relating to claims for excess proceeds of a tax sale of real property.), As Introduced
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB406 by Rodriguez (Relating to claims for excess proceeds of a tax sale of real property.), As Introduced
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB406 by Rodriguez (Relating to claims for excess proceeds of a tax sale of real property.), As Introduced
HB406 by Rodriguez (Relating to claims for excess proceeds of a tax sale of real property.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 34 of the Tax Code, regarding tax sales of real property, to place additional restrictions on an owner's claim to excess proceeds resulting from a tax sale. The bill would place additional restrictions on the assignment or transfer of an owner's interest, as well as limit participation by agents in the owners recovery. The bill could have a slight effect on the allocation of excess proceeds between previous owners and taxing units. The bill could also slightly affect the recovery of some former owners. The bill would take effect September 1, 2009.
The bill would amend Chapter 34 of the Tax Code, regarding tax sales of real property, to place additional restrictions on an owner's claim to excess proceeds resulting from a tax sale.
The bill would place additional restrictions on the assignment or transfer of an owner's interest, as well as limit participation by agents in the owners recovery.
The bill could have a slight effect on the allocation of excess proceeds between previous owners and taxing units. The bill could also slightly affect the recovery of some former owners.
The bill would take effect September 1, 2009.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, MN, SD, SJS
JOB, MN, SD, SJS