LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION May 6, 2015 TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2207 by Keffer (Relating to the foreclosure sale of property subject to an oil or gas lease.), As Engrossed No fiscal implication to the State is anticipated. The bill would amend the Property Code relating to the foreclosure sale of a property subject to an oil or gas lease with a security interest. The bill would provide purchasers with certain rights, and set certain lease and sale conditions. The Comptroller indicates that since the taxable property value of an oil or gas lease and the collections of state and local taxes would be unaffected by the bill's provisions, the bill would have no fiscal implication to the state or units of local government. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 455 Railroad Commission LBB Staff: UP, TB, SZ
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
May 6, 2015
TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2207 by Keffer (Relating to the foreclosure sale of property subject to an oil or gas lease.), As Engrossed
TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2207 by Keffer (Relating to the foreclosure sale of property subject to an oil or gas lease.), As Engrossed
Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development
Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB2207 by Keffer (Relating to the foreclosure sale of property subject to an oil or gas lease.), As Engrossed
HB2207 by Keffer (Relating to the foreclosure sale of property subject to an oil or gas lease.), As Engrossed
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Property Code relating to the foreclosure sale of a property subject to an oil or gas lease with a security interest. The bill would provide purchasers with certain rights, and set certain lease and sale conditions. The Comptroller indicates that since the taxable property value of an oil or gas lease and the collections of state and local taxes would be unaffected by the bill's provisions, the bill would have no fiscal implication to the state or units of local government.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 455 Railroad Commission
304 Comptroller of Public Accounts, 455 Railroad Commission
LBB Staff: UP, TB, SZ
UP, TB, SZ