Honorable Helen Giddings, Chair, House Committee on Business & Industry
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
SB629 by Lucio (Relating to the rights of a purchaser under an executory contract for conveyance of real property.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to add a written request submitted by a purchaser of real property under a contract for a deed, executory contract, or other executory conveyance to those to whom an entity that provides utility service, or the governing body of the municipality, the municipal authority responsible for approving plats would be required to make certain determinations related to the property. The bill would also amend the Property Code as it relates to the rights of a purchaser under an executory contract for conveyance of real property. The bill would take effect September 1, 2005.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.