LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session March 2, 1997 TO: Honorable Rodney Ellis, Chair IN RE: Senate Bill No. 504 Committee on Jurisprudence By: Harris Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB504 ( 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 SB504-As Introduced No significant fiscal implication to the State is anticipated. 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: 212 Office of Court Administration 312 Securities Board LBB Staff: JK ,BB ,PE