LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 20, 2015 TO: Honorable René Oliveira, Chair, House Committee on Business & Industry FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3222 by Walle (Relating to the priority of a transferred ad valorem tax lien.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Section 32.05 of the Tax Code, regarding priority of property tax liens over other property interests, to provide that once a tax lien is transferred, the tax lien is inferior to a debt, lien, future interest, or other encumbrance that existed before the attachment of the tax lien. Currently, the priority of a property tax lien is transferred to a property tax lender.The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state. The bill would take effect September 1, 2015. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, CL, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 20, 2015
TO: Honorable René Oliveira, Chair, House Committee on Business & Industry FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3222 by Walle (Relating to the priority of a transferred ad valorem tax lien.), As Introduced
TO: Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB3222 by Walle (Relating to the priority of a transferred ad valorem tax lien.), As Introduced
Honorable René Oliveira, Chair, House Committee on Business & Industry
Honorable René Oliveira, Chair, House Committee on Business & Industry
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB3222 by Walle (Relating to the priority of a transferred ad valorem tax lien.), As Introduced
HB3222 by Walle (Relating to the priority of a transferred ad valorem tax lien.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Section 32.05 of the Tax Code, regarding priority of property tax liens over other property interests, to provide that once a tax lien is transferred, the tax lien is inferior to a debt, lien, future interest, or other encumbrance that existed before the attachment of the tax lien. Currently, the priority of a property tax lien is transferred to a property tax lender.The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state. The bill would take effect September 1, 2015.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, CL, SD, SJS
UP, CL, SD, SJS