LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  March 2, 1997
         
         
      TO: Honorable Senfronia Thompson, Chair            IN RE:  House Bill No. 411
          Committee on Judicial Affairs                              By: Thompson
          House
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on HB411 ( Relating 
to the adoption of the Uniform Transfer On Death Security Registration 
Act.) this office has detemined the following:
         
         Biennial Net Impact to General Revenue Funds by HB411-As Introduced
         
No significant fiscal implication to the State is anticipated.
         

         
 
Similar annual fiscal implications The bill would amend Chapter 
XI of the Texas Probate Code by adding Part 4, relating to the 
adoption of a Uniform Transfer on Death Security Registration 
Act.  The bill would clarify who is entitled to obtain registration 
in beneficiary form.  The "transfer on death" designation would 
only be effective after the date of death of the owner.  The 
bill would become effective September 1, 1997.
          
No significant fiscal implication to units of local government 
is anticipated.
          
   Source:            Agencies:   451   Department of Banking
                                         454   Department of Insurance
                                         
                      LBB Staff:   JK ,PE