LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session April 20, 2001 TO: Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations FROM: John Keel, Director, Legislative Budget Board IN RE: SB1572 by Lindsay (Relating to claims for excess proceeds from tax sales.), As Introduced ************************************************************************** * No significant fiscal implication to the State is anticipated. * ************************************************************************** The bill would amend Section 34.04 of the Tax Code, relating to claims for excess proceeds from tax sales. The bill would require an assignee of a property owner's rights to excess proceeds following a property tax foreclosure sale to inform the owner in writing of the amount of excess proceeds and that the owner could have a right to claim the full amount. Since the bill addresses only individual rights concerning the distribution of excess proceeds following a property tax foreclosure sale, there would be no significant fiscal impact to the state or units of local government. 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, BR