LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION May 15, 2015 TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2067 by Oliveira (Relating to the rescission or waiver of an acceleration of the maturity date of certain debt secured by a lien on real property.), As Engrossed No significant fiscal implication to the State is anticipated. The bill would amend the Civil Practice and Remedies Code to add a section regarding the statute of limitations for bringing suit for the recovery of real property or the foreclosure of a real property lien and describes the effect of an acceleration of the maturity date and the subsequent rescission or waiver of that acceleration on the running of the limitations period. The bill would not create an exclusive method for waiver and rescission of acceleration or affect the accrual of a cause of action and the running of the related limitations period on any subsequent maturity date. Based on the analysis of the Office of Court Administration, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:212 Office of Court Administration, Texas Judicial Council LBB Staff: UP, CL, GDz
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
May 15, 2015
TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2067 by Oliveira (Relating to the rescission or waiver of an acceleration of the maturity date of certain debt secured by a lien on real property.), As Engrossed
TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2067 by Oliveira (Relating to the rescission or waiver of an acceleration of the maturity date of certain debt secured by a lien on real property.), As Engrossed
Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB2067 by Oliveira (Relating to the rescission or waiver of an acceleration of the maturity date of certain debt secured by a lien on real property.), As Engrossed
HB2067 by Oliveira (Relating to the rescission or waiver of an acceleration of the maturity date of certain debt secured by a lien on real property.), As Engrossed
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Civil Practice and Remedies Code to add a section regarding the statute of limitations for bringing suit for the recovery of real property or the foreclosure of a real property lien and describes the effect of an acceleration of the maturity date and the subsequent rescission or waiver of that acceleration on the running of the limitations period. The bill would not create an exclusive method for waiver and rescission of acceleration or affect the accrual of a cause of action and the running of the related limitations period on any subsequent maturity date. Based on the analysis of the Office of Court Administration, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 212 Office of Court Administration, Texas Judicial Council
212 Office of Court Administration, Texas Judicial Council
LBB Staff: UP, CL, GDz
UP, CL, GDz