LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

March 16, 2007

TO:	Honorable David Swinford, Chair, House Committee on State Affairs
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB1762 by Leibowitz (Relating to interest on unpaid penalties imposed by the Texas Residential Construction Commission.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Property Code to specify that interest accrues on an unpaid administrative penalty at a rate of 18 percent compounded annually beginning on the day after the date specified for payment by the Texas Residential Construction Commission (TRCC). The provisions of the bill would apply only to an administrative penalty assessed on or after the effective date of the bill.

Based on the analysis of TRCC, it is assumed any costs or duties associated with implementing the provisions of the bill could be absorbed within existing resources.

The bill would take effect on September 1, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

370 Residential Construction Commission

LBB Staff:

JOB, KJG, TG