LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 76th Regular Session
  
                            February 25, 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 from a property tax
               sale.), Committee Report 1st House, Substituted
  
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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, allowing 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 are currently in the
registry of the court. The bill would require the clerk of the court to
notify the former owner if the excess proceeds were more than $25. This
requirement is not expected to result in significant fiscal implications
to local governments.
  
  
Source Agencies:   
LBB Staff:         JK, TL, BR