Honorable Jeff Leach, Chair, House Committee on Judiciary & Civil Jurisprudence
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB1939 by Smith (relating to the limitations periods for certain suits against real estate appraisers and appraisal firms.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Civil Practice and Remedies Code to provide that, except for an action based on fraud or breach of contract, a person must bring suit for damages or other relief arising from an appraisal or appraisal review conducted by a real estate agent appraiser or appraisal firm within a certain amount of time.
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.