LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION April 25, 2023 TO: Honorable Terry Canales, Chair, House Committee on Transportation FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3412 by Lujan (Relating to the release of a motor vehicle title to a dealer after the discharge of a lien.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Transportation Code, Chapter 501, by adding Section 501.0237 to authorize a motor vehicle dealer who is unable to obtain a title for a vehicle from a lienholder after the discharge of a lien, to apply for a title in the dealer's name for resale purposes with the county tax-assessor collector, no earlier than the 20th day after the date of debt or claim secured by the lien is paid in full. The bill would specify conditions that must be met with the application for title under the new section. The bill would take effect on September 1, 2023. Based on the information provided by the Texas Department of Motor Vehicles and the Comptroller of Public Accounts, it is assumed implementation of the bill would not result in a significant fiscal impact to the State. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts, 608 Department of Motor Vehicles LBB Staff: b > td > JMc, AAL, TG
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
April 25, 2023
TO: Honorable Terry Canales, Chair, House Committee on Transportation FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3412 by Lujan (Relating to the release of a motor vehicle title to a dealer after the discharge of a lien.), As Introduced
TO: Honorable Terry Canales, Chair, House Committee on Transportation
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB3412 by Lujan (Relating to the release of a motor vehicle title to a dealer after the discharge of a lien.), As Introduced
Honorable Terry Canales, Chair, House Committee on Transportation
Honorable Terry Canales, Chair, House Committee on Transportation
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB3412 by Lujan (Relating to the release of a motor vehicle title to a dealer after the discharge of a lien.), As Introduced
HB3412 by Lujan (Relating to the release of a motor vehicle title to a dealer after the discharge of a lien.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Transportation Code, Chapter 501, by adding Section 501.0237 to authorize a motor vehicle dealer who is unable to obtain a title for a vehicle from a lienholder after the discharge of a lien, to apply for a title in the dealer's name for resale purposes with the county tax-assessor collector, no earlier than the 20th day after the date of debt or claim secured by the lien is paid in full. The bill would specify conditions that must be met with the application for title under the new section. The bill would take effect on September 1, 2023. Based on the information provided by the Texas Department of Motor Vehicles and the Comptroller of Public Accounts, it is assumed implementation of the bill would not result in a significant fiscal impact to the State.
Based on the information provided by the Texas Department of Motor Vehicles and the Comptroller of Public Accounts, it is assumed implementation of the bill would not result in a significant fiscal impact to the State.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts, 608 Department of Motor Vehicles
304 Comptroller of Public Accounts, 608 Department of Motor Vehicles
LBB Staff: b > td > JMc, AAL, TG
JMc, AAL, TG