LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 76th Regular Session
  
                            February 15, 1999
  
  
          TO:  Honorable Frank Madla, Chair, Senate Committee on
               Intergovernmental Relations
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  SB 337  by Madla (Relating to the distribution of the
               proceeds of a property tax foreclosure sale.), As
               Introduced
  
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*  No significant fiscal implication to the State is anticipated.        *
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Local Government Impact
  
The bill would amend chapter 34 of the Tax Code to reduce the period for
distributing excess proceeds of a property tax foreclosure sale from
seven years to two years. This would allow taxing units to receive any
excess proceeds from foreclosure sales five years earlier than allowed
by current law.  Local tax unit revenues would increase based on the
number of property accounts that have excess proceeds and currently are
in the registry of the court.
  
  
Source Agencies:   
LBB Staff:         JK, TL, BR