LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

May 16, 2005

TO:	Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB1582 by Chavez (Relating to a study of residential foreclosures in certain counties.), As Engrossed

No significant fiscal implication to the State is anticipated.

The bill would add Section 2306.260 to the Government Code to require the Texas Department of Housing and Community Affairs (TDHCA), or its contractor, to conduct a study of mortgage foreclosure rates in Bexar, Cameron, Dallas, El Paso, and Travis Counties and would establish the topics to be addressed in the study. The bill would require TDHCA to establish an advisory committee to direct the focus of the study. The bill would require TDHCA to report to the Governor, the Lieutenant Governor, and the Speaker of the House on the study and its results not later than September 1, 2006.

 

Based on the analysis of the Department of Housing and Community Affairs, it is assumed the costs and duties associated with implementing the bill could be absorbed within existing resources.

 

The bill would take effect immediately upon receiving a vote of two-thirds of all members elected to each house or otherwise on September 1, 2005.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

332 Department of Housing and Community Affairs, 450 Savings and Loan Department, 720 The University of Texas System Administration

LBB Staff:

JOB, DLBa, JRO, TG