LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION April 19, 2011 TO: Honorable Harold V. Dutton Jr., Chair, House Committee on Urban Affairs FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB2224 by Davis, Yvonne (Relating to reporting of certain information regarding foreclosure sales of residential real property.), As Introduced Estimated Two-year Net Impact to General Revenue Related Funds for HB2224, As Introduced: a negative impact of ($169,538) through the biennium ending August 31, 2013. The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
April 19, 2011
TO: Honorable Harold V. Dutton Jr., Chair, House Committee on Urban Affairs FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB2224 by Davis, Yvonne (Relating to reporting of certain information regarding foreclosure sales of residential real property.), As Introduced
TO: Honorable Harold V. Dutton Jr., Chair, House Committee on Urban Affairs
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB2224 by Davis, Yvonne (Relating to reporting of certain information regarding foreclosure sales of residential real property.), As Introduced
Honorable Harold V. Dutton Jr., Chair, House Committee on Urban Affairs
Honorable Harold V. Dutton Jr., Chair, House Committee on Urban Affairs
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
HB2224 by Davis, Yvonne (Relating to reporting of certain information regarding foreclosure sales of residential real property.), As Introduced
HB2224 by Davis, Yvonne (Relating to reporting of certain information regarding foreclosure sales of residential real property.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HB2224, As Introduced: a negative impact of ($169,538) through the biennium ending August 31, 2013. The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
Estimated Two-year Net Impact to General Revenue Related Funds for HB2224, As Introduced: a negative impact of ($169,538) through the biennium ending August 31, 2013.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
General Revenue-Related Funds, Five-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2012 ($100,519) 2013 ($69,019) 2014 ($69,019) 2015 ($69,019) 2016 ($69,019)
2012 ($100,519)
2013 ($69,019)
2014 ($69,019)
2015 ($69,019)
2016 ($69,019)
All Funds, Five-Year Impact: Fiscal Year Probable (Cost) fromGeneral Revenue Fund1 Change in Number of State Employees from FY 2011 2012 ($100,519) 1.0 2013 ($69,019) 1.0 2014 ($69,019) 1.0 2015 ($69,019) 1.0 2016 ($69,019) 1.0
Fiscal Year Probable (Cost) fromGeneral Revenue Fund1 Change in Number of State Employees from FY 2011 2012 ($100,519) 1.0 2013 ($69,019) 1.0 2014 ($69,019) 1.0 2015 ($69,019) 1.0 2016 ($69,019) 1.0
2012 ($100,519) 1.0
2013 ($69,019) 1.0
2014 ($69,019) 1.0
2015 ($69,019) 1.0
2016 ($69,019) 1.0
Fiscal Analysis
The bill would amend the Government Code relating to reporting of certain information regarding foreclosure sales of residential real property. The bill directs the Texas Department of Housing and Community Affairs (TDHCA) board to create a form to be filed by mortgage services with county clerks in order to collect property-level information on mortgage defaults and foreclosures, as well as identifying the procedure for which the county clerks must submit the information to the TDHCA. The bill also directs TDHCA to submit a report with the above information, no later than January 1st of each year to the Governor, Lieutenant Governor, Speaker, and Attorney General. Under provisions of the bill, TDHCA is also directed to make the data and the report available online. This bill would take effect September 1, 2011.
The bill would amend the Government Code relating to reporting of certain information regarding foreclosure sales of residential real property. The bill directs the Texas Department of Housing and Community Affairs (TDHCA) board to create a form to be filed by mortgage services with county clerks in order to collect property-level information on mortgage defaults and foreclosures, as well as identifying the procedure for which the county clerks must submit the information to the TDHCA. The bill also directs TDHCA to submit a report with the above information, no later than January 1st of each year to the Governor, Lieutenant Governor, Speaker, and Attorney General. Under provisions of the bill, TDHCA is also directed to make the data and the report available online.
This bill would take effect September 1, 2011.
Methodology
According to the analysis by TDHCA, the agency estimates additional costs would be incurred in order to implement the provisions of this bill. According to TDHCA, an Information Specialist II, operating costs and capital budget funding and authority would be required to implement the system for collecting foreclosure sales data and displaying the data on TDHCAs website. The total impact for fiscal year 2012 is $45,455/year (Salaries/Wages) + 12,664 (Benefits) + $1,500 (Computer Equipment) + $37,500 (Capital Budget) + $3,400 (Operating Expenses) = $100,519. The total impact for fiscal year 2013 - 2016 is 45,455/year (Salaries/Wages) + 12,664 (Benefits) + $7,500 (Capital Budget) + $3,400 (Operating Expenses) = $69,019.
Technology
TDHCA estimates one-time technology costs of $37,500 in FY 2012 and $7,500 in fiscal years 2013-16. Costs are associated with the development and maintenance of a web-based data collection system.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 332 Department of Housing and Community Affairs
332 Department of Housing and Community Affairs
LBB Staff: JOB, KKR, MW, NV
JOB, KKR, MW, NV