LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 14, 1997 TO: Honorable Tom Craddick, Chair IN RE: House Bill No. 1610 Committee on Ways & Means By: Turner, Bob House Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on HB1610 ( Relating to a requirement of filing of a release of a judgment lien for ad valorem taxes on payment of the amount of the judgment.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by HB1610-As Introduced No fiscal implication to the State is anticipated. FISCAL ANALYSIS The bill would amend Section 33.53 of the Tax Code to allow owners to receive, and have recorded, a release of the tax lien on their property following judgment in a suit to collect a delinquent tax, if the owner paid the amount of the judgment before the property was sold. An owner would be required to pay the amount of the judgment before the property was sold, and the taxing unit would be required to file a release of lien with the county clerk. The bill would take effect September 1, 1997 and would only apply to a payment by a property owner on or after the effective date. LOCAL There could be some administrative savings to taxing units in instances where owners paid off judgments without the need for formal foreclosure sales, however, it is not anticipated to be significant. Property reclaimed under this proposal would not be subject to penalties payable to taxing units under current property redemption laws (Section 34.21 of the Tax Code). Source: Agencies: 304 Comptroller of Public Accounts LBB Staff: JK ,RR ,BR