LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION May 3, 2011 TO: Honorable Royce West, Chair, Senate Committee on Intergovernmental Relations FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB1468 by Lucio (Relating to the eligibility of persons to participate in the public sale of certain real property and the purchase of that property; providing a penalty.), As Introduced Depending upon the increased amount of property taxes that would be paid, there could be an indeterminate fiscal impact to the state. The bill would amend the Civil Practice and Remedies Code regarding the eligibility of persons to participate in the public sale of certain real property and the purchase of that property. According to the analysis of the Comptroller of Public Accounts, the provisions could strengthen existing laws to ensure that all property taxes are paid before property seized by a governmental unit is bid on and sold which may increase property tax revenues to local governments and to the State. No information is available regarding the increased amount of property taxes that would be paid; consequently, the fiscal impact on the State and units of local government cannot be estimated. Local Government Impact The fiscal implications of the bill cannot be determined at this time. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, KKR, TP, KJG, KK, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
May 3, 2011
TO: Honorable Royce West, Chair, Senate Committee on Intergovernmental Relations FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB1468 by Lucio (Relating to the eligibility of persons to participate in the public sale of certain real property and the purchase of that property; providing a penalty.), As Introduced
TO: Honorable Royce West, Chair, Senate Committee on Intergovernmental Relations
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB1468 by Lucio (Relating to the eligibility of persons to participate in the public sale of certain real property and the purchase of that property; providing a penalty.), As Introduced
Honorable Royce West, Chair, Senate Committee on Intergovernmental Relations
Honorable Royce West, Chair, Senate Committee on Intergovernmental Relations
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
SB1468 by Lucio (Relating to the eligibility of persons to participate in the public sale of certain real property and the purchase of that property; providing a penalty.), As Introduced
SB1468 by Lucio (Relating to the eligibility of persons to participate in the public sale of certain real property and the purchase of that property; providing a penalty.), As Introduced
Depending upon the increased amount of property taxes that would be paid, there could be an indeterminate fiscal impact to the state.
Depending upon the increased amount of property taxes that would be paid, there could be an indeterminate fiscal impact to the state.
The bill would amend the Civil Practice and Remedies Code regarding the eligibility of persons to participate in the public sale of certain real property and the purchase of that property. According to the analysis of the Comptroller of Public Accounts, the provisions could strengthen existing laws to ensure that all property taxes are paid before property seized by a governmental unit is bid on and sold which may increase property tax revenues to local governments and to the State. No information is available regarding the increased amount of property taxes that would be paid; consequently, the fiscal impact on the State and units of local government cannot be estimated.
Local Government Impact
The fiscal implications of the bill cannot be determined at this time.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, KKR, TP, KJG, KK, SD
JOB, KKR, TP, KJG, KK, SD