LEGISLATIVE BUDGET BOARD
                          Austin, Texas

                           FISCAL NOTE
                       74th Regular Session

                          April 2, 1995



 TO:     Honorable John T. Montford, Chair      IN RE:  Senate Bill No. 642
         Committee on Finance                           By: Montford
         Senate
         Austin, Texas






FROM: John Keel, Director

In response to your request for a Fiscal Note on Senate Bill No.
642 (Relating to the appraisal of property for ad valorem
taxation and the assessment and collection of ad valorem taxes.)
this office has determined the following:

The bill would propose three changes to property tax laws
administered by the Comptroller and technical amendments to
several sections of the Property Tax Code.

Section 1 would transfer out-of-state delinquent citation
functions from the Comptroller to the Secretary of State.

Section 2 would provide the Comptroller discretion to allow a
school district request for an audit of the Comptroller's
property value study results under Section 11.86, Education Code. 
Currently, the Comptroller is required to audit its value
findings on a school district request.

Section 3 would change the reporting date for the Comptroller's
report on school district effective tax rates to the Teachers'
Retirement System from June 7 to no later than the seventh day
after certification of property value study results to the
Commissioner of Education.

Sections 4 and 5 would change "Federal Land Bank of Houston" to
"Federal Land Bank of Texas or its successor."

Sections 6 through 8 would change the period for back assessing
erroneously granting special appraisal for; timber; recreational;
park and scenic land; and public access airport property from 10    




to 5 years.  All other Tax Code sections concerning erroneous 
grants are 5 years.

Sections 9 and 10 would delete references to repealed Section
25.15, Tax Code.  The section was repealed in 1984 and related to
property owned by banking companies.

Section 11 would consolidate two sections in the Tax Code
allowing waiver of penalties and interest into one section.


No fiscal implication to units of local government is
anticipated.

No significant fiscal implication to the State is anticipated.


Source:   Comptroller of Public Accounts, Secretary of State
          LBB Staff: JK, BR, DF