TO: | Honorable Helen Giddings, Chair, House Committee on Business & Industry |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | SB149 by Wentworth (Relating to the recording of certain aircraft repair and maintenance liens; providing a criminal penalty.), As Engrossed |
The bill would amend Property Code to require the Secretary of State to maintain information on liens on aircrafts with non-U.S. registrations, indexed under the owner's name and aircraft and create a fee for filing this information with the Secretary of State. Revenue generated by the new filing fee is anticipated to be between $300 and $3,000 per fiscal year. It is anticipated that existing resources would be able absorb any costs associating with implementing the provisions of the bill.
The bill would also create a Class B misdemeanor for improperly obtaining possession of an aircraft subject to a lien. The misdemeanor fine is collected by local entities.
Source Agencies: | 307 Secretary of State
|
LBB Staff: | JOB, JRO, KJG, LB, MS, NR
|