LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION April 14, 2011 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB1320 by Lucio (Relating to the execution of deeds conveying residential real estate in connection with certain transactions involving residential real estate.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Business and Commerce Code and prohibits a person from requiring a debtor on a home loan, to execute a deed that conveys the property to the loan holder on or before the date the deed of trust is executed. It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:302 Office of the Attorney General LBB Staff: JOB, AG, JM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
April 14, 2011
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB1320 by Lucio (Relating to the execution of deeds conveying residential real estate in connection with certain transactions involving residential real estate.), Committee Report 1st House, Substituted
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB1320 by Lucio (Relating to the execution of deeds conveying residential real estate in connection with certain transactions involving residential real estate.), Committee Report 1st House, Substituted
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Honorable John Carona, Chair, Senate Committee on Business & Commerce
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
SB1320 by Lucio (Relating to the execution of deeds conveying residential real estate in connection with certain transactions involving residential real estate.), Committee Report 1st House, Substituted
SB1320 by Lucio (Relating to the execution of deeds conveying residential real estate in connection with certain transactions involving residential real estate.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code and prohibits a person from requiring a debtor on a home loan, to execute a deed that conveys the property to the loan holder on or before the date the deed of trust is executed. It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 302 Office of the Attorney General
302 Office of the Attorney General
LBB Staff: JOB, AG, JM
JOB, AG, JM