LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              April 12, 2001
  
  
          TO:  Honorable Rene Oliveira, Chair, House Committee on Ways &
               Means
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HJR76  by Homer (Proposing a constitutional amendment to
               shorten the period during which the former owner of real
               property sold at an ad valorem tax sale may redeem the
               property.), As Introduced
  
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*  No significant fiscal implication to the State is anticipated,        *
*  other than the cost of publication.                                   *
*                                                                        *
*  The cost to the state for publication of the resolution is $80,000.   *
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The proposed resolution would amend Article VIII, Section 13 of the Texas
Constitution to shorten the redemption period following a delinquent
property tax foreclosure sale.

The period would be reduced to one year from two years for former owners
of residence homesteads and land designated for agricultural use; for
former owners of other real property, the period would be reduced from
six to three months.

The proposed constitutional amendment would be submitted to voters at an
election to be held November 6, 2001. 

Passage of this resolution would expedite the sale and final transfer of
real property through the foreclosure sale process.  Buyers of these
properties could clear title to the land relative to potential
redemption rights of former owners in a shorter period of time than
under current law.  It is not anticipated that the provisions of this
resolution will result in any significant fiscal impact on the state
units of local government
  
Local Government Impact
  
No significant fiscal implication to units of local government is
anticipated.
  
  
Source Agencies:   307   Secretary of State, 304   Comptroller of Public
                   Accounts
LBB Staff:         JK, SD, BR