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