LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

April 27, 2007

TO:	Honorable Burt R. Solomons, Chair, House Committee on Financial Institutions
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB3842 by Hilderbran (Relating to the issuance of statements of ownership and location for manufactured homes to certain lienholders without the consent of the owners of those homes. ), Committee Report 1st House, Substituted

No significant fiscal implication to the State is anticipated.

The bill would amend the Occupations Code to allow a holder or servicer of a mortgage loan that seeks to foreclose a first lien on a manufactured home to apply without the consent of the borrower-owner for the issuance of a new statement of ownership and location that reflects an intent to convert the home from personal property to real property from the Department of Housing and Community Affairs (TDHCA).

Based on information provided by TDHCA, it is assumed that any additional costs related to the duties and responsibilities associated with implementing the provisions of the bill could be covered by utilizing existing resources.

This bill would take effect immediately if it receives a vote of two-thirds of all members elected to each house; otherwise the bill would take effect September 1, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

332 Department of Housing and Community Affairs

LBB Staff:

JOB, JRO, AH