LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION March 22, 2021 TO: Honorable Jeff Leach, Chair, House Committee on Judiciary & Civil Jurisprudence FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB2179 by Moody (Relating to trusts.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Property Code to modify conditions under which homestead property may be placed in, or transferred to, a trust for use as a homestead by either the beneficiaries of the trust or the settlors of the trust and still retain homestead protection from creditors. Based on information provided by the Office of Court Administration, no significant fiscal impact to the state court system is anticipated as a result from implementing the provisions of the bill. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 212 Office of Court Admin LBB Staff: b > td > JMc, SLE, MW, BH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
March 22, 2021
TO: Honorable Jeff Leach, Chair, House Committee on Judiciary & Civil Jurisprudence FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB2179 by Moody (Relating to trusts.), As Introduced
TO: Honorable Jeff Leach, Chair, House Committee on Judiciary & Civil Jurisprudence
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB2179 by Moody (Relating to trusts.), As Introduced
Honorable Jeff Leach, Chair, House Committee on Judiciary & Civil Jurisprudence
Honorable Jeff Leach, Chair, House Committee on Judiciary & Civil Jurisprudence
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB2179 by Moody (Relating to trusts.), As Introduced
HB2179 by Moody (Relating to trusts.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code to modify conditions under which homestead property may be placed in, or transferred to, a trust for use as a homestead by either the beneficiaries of the trust or the settlors of the trust and still retain homestead protection from creditors. Based on information provided by the Office of Court Administration, no significant fiscal impact to the state court system is anticipated as a result from implementing the provisions of the bill.
The bill would amend the Property Code to modify conditions under which homestead property may be placed in, or transferred to, a trust for use as a homestead by either the beneficiaries of the trust or the settlors of the trust and still retain homestead protection from creditors.
Based on information provided by the Office of Court Administration, no significant fiscal impact to the state court system is anticipated as a result from implementing the provisions of the bill.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 212 Office of Court Admin
212 Office of Court Admin
LBB Staff: b > td > JMc, SLE, MW, BH
JMc, SLE, MW, BH