Honorable Kip Averitt, Chair, Senate Committee on Natural Resources
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB771 by Van de Putte (Relating to exempting certain state agencies from certain laws relating to real property transactions.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would exempt the General Land Office (GLO) from the following types of statutes relating to real estate transactions, unless the statute states that it specifically applies to the GLO: (1) a statute that would require the land office to provide a notice or disclosure to a buyer of real property; and (2) a statute relating to the sale, purchase, or financing of real property by an executory contract, including a contract for deed or other similar sale.
Local Government Impact
No fiscal implication to units of local government is anticipated.