LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION March 31, 2017 TO: Honorable René Oliveira, Chair, House Committee on Business & Industry FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1470 by Villalba (Relating to the public sale of real property under a power of sale in a security instrument.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Business and Commerce Code to address certain property transactions conducted pursuant to the power of sale afforded by a security instrument. The bill would not apply to a foreclosing mortgagee or mortgage servicer. 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, PBO, MW, KJH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
March 31, 2017
TO: Honorable René Oliveira, Chair, House Committee on Business & Industry FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1470 by Villalba (Relating to the public sale of real property under a power of sale in a security instrument.), Committee Report 1st House, Substituted
TO: Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB1470 by Villalba (Relating to the public sale of real property under a power of sale in a security instrument.), Committee Report 1st House, Substituted
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
HB1470 by Villalba (Relating to the public sale of real property under a power of sale in a security instrument.), Committee Report 1st House, Substituted
HB1470 by Villalba (Relating to the public sale of real property under a power of sale in a security instrument.), 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 to address certain property transactions conducted pursuant to the power of sale afforded by a security instrument. The bill would not apply to a foreclosing mortgagee or mortgage servicer. 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, PBO, MW, KJH
UP, CL, PBO, MW, KJH