LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

February 25, 2005

TO:	Honorable Fred Hill, Chair, House Committee on Local Government Ways & Means
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB89 by Rodriguez (Relating to requiring a person closing a real estate transaction to assist a purchaser or owner in applying for a residence homestead tax exemption.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would require a person who, for compensation, prepares closing documents for single-unit residential property transfers to notify the purchaser of all eligible residential homestead exemptions, and how and when to file those exemptions, and to provide residential homestead exemption forms.  Persons who assist in the filing of a residential homestead exemption would be permitted 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.  The bill may result in additional residential homestead exemptions.  However, no significant impact to the State is anticipated.

Local Government Impact

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

Source Agencies:

LBB Staff:

JOB, SD, WP, DLBe