LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                            February 16, 2001
  
  
          TO:  Honorable Bill G. Carter, Chair, House Committee on Urban
               Affairs
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HB858  by Dutton (Relating to the effect of a deed of
               conveyance of tax foreclosed property resold by a
               municipality for urban redevelopment purposes.), As
               Introduced
  
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*  No fiscal implication to the State is anticipated.                    *
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The bill would provide that a purchaser in a resale, for purposes of
urban development, receive all of the taxing unit's ownership interests.
Consequently, the bill would affect only private ownership rights.
Current law authorizes a city to resell foreclosed property to a
purchaser for less than market value if the land is to be used for
certain economic development purposes, such as improving the safety and
quality of life in deteriorating neighborhoods.
  
Local Government Impact
  
No significant fiscal implication to units of local government is
anticipated.
  
  
Source Agencies:   304   Comptroller of Public Accounts
LBB Staff:         JK, DB, SD, BR