LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

May 6, 2003

TO:	Honorable Fred Hill, Chair, House Committee on Local Government Ways and Means
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	HB3433 by Rodriguez (Relating to requiring a person responsible for closing a real estate transaction to assist a purchaser or owner in applying for a residence homestead exemption for ad valorem tax purposes.), Committee Report 1st House, Substituted

No significant fiscal implication to the State is anticipated.

The bill would require a person who, for compensation, prepares closing documents for real estate transfers to provide the purchaser of residential property with a copy of a residential homestead exemption form. The bill would permit a person who assists another person by preparing or filing on behalf of the other person to charge a fee not to exceed $25 for their assistance in preparing and filing exemption applications, and they would be prohibited from accepting as compensation any part of a property tax refund on the subject property.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts, 329 Real Estate Commission

LBB Staff:

JK, SD, WP, DLBe