Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB645 by Ellis (Relating to a study of residential foreclosures in certain counties.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill directs the School of Public Affairs at Texas Southern University to conduct a study to examine mortgage foreclosure rates in the Houston-Sugar Land-Baytown Metropolitan Statistical Area, as defined by the U.S. Office of Management and Budget, and to establish an advisory committee to direct the focus of the study. Under provisions of the bill, the School of Public Affairs will report to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives on the study and its results not later than September 1, 2008. Texas Southern University should be able to implement provisions of this bill within existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
450 Department of Savings and Mortgage Lending, 717 Texas Southern University