LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 8, 2009 TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB471 by Carona (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
April 8, 2009
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB471 by Carona (Relating to claims for excess proceeds of a tax sale of real property.), As Introduced
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB471 by Carona (Relating to claims for excess proceeds of a tax sale of real property.), As Introduced
Honorable Steve Ogden, Chair, Senate Committee on Finance
Honorable Steve Ogden, Chair, Senate Committee on Finance
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB471 by Carona (Relating to claims for excess proceeds of a tax sale of real property.), As Introduced
SB471 by Carona (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