LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 29, 1997 TO: Honorable Rodney Ellis, Chair IN RE: House Bill No. 1463, As Engrossed Committee on Jurisprudence By: Bosse Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on HB1463 ( Relating to the sale of real property placed inthe name of the state as a result of a tax foreclosure sale.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by HB1463-As Engrossed No significant fiscal implication to the State is anticipated. This bill would amend the Natural Resources Code concerning School Land Board (the Board) sales of certain property owned by the state as a result of foreclosures on tax liens. The bill would provide that such property is free of any lien, penalties or interest owed to a taxing unit that was a party to the tax delinquency judgment. Further, the Board would not be required to pay any portion of the proceeds from the sale of such properties to a taxing unit that was a party to the tax delinquency judgment. The sale of such property would vest a good and perfect title to the purchaser of the property. The General Land Office estimates no significant savings from this bill. The Office of the Attorney General estimates that any legal work anticipated from this bill would be covered by existing funding. No significant fiscal implication to units of local government is anticipated. Local entities which were parties to the tax delinquency judgment would not recover their proportionate share of the judgment. However, a small increase in tax revenue could be realized as a result of the property being returned to the tax rolls. Source: Agencies: 305 General Land Office and Veterans' Land Board 302 Office of the Attorney General LBB Staff: JK ,BB ,NT