LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

March 26, 2007

TO:	Honorable Helen Giddings, Chair, House Committee on Business & Industry
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB2207 by Gallego (Relating to the conveyance of certain residential real property encumbered by a lien.), As Introduced

No significant fiscal implication to the State is anticipated.

This bill amends the Property Code relating to the conveyance of certain residential real property encumbered by a lien.  Based on the analysis of the Office of the Attorney General, the Real Estate Commission and the Department of Savings and Mortgage Lending, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.

This bill would take effect September 1, 2008.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

302 Office of the Attorney General, 329 Real Estate Commission, 450 Department of Savings and Mortgage Lending

LBB Staff:

JOB, JRO, MW, NV