LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION
 
May 8, 2007

TO:
Honorable Burt R. Solomons, Chair, House Committee on Financial Institutions
 
FROM:
John S. O'Brien, Director, Legislative Budget Board
 
IN RE:
SB1520 by Wentworth (Relating to ad valorem tax lien transfers.), As Engrossed

No fiscal implication to the State is anticipated.

The bill would modify the rights and obligations of a person authorized by the owner of real property to pay property taxes on a specific property. The bill would allow a property tax lien to be transferred to the person who paid the taxes on behalf of the owner for taxes that were delinquent or not delinquent at the time the tax payments were made.

 

Because the state is constitutionally prohibited from imposing a state property tax, there would be no direct fiscal impact on the state. Passage of this bill would affect only the rights and obligations of persons who entered into private contracts for payment of property taxes on real property and would not affect units of local government.The bill would take effect September 1, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.


Source Agencies:
304 Comptroller of Public Accounts
LBB Staff:
JOB, JRO, MN, SD, SJS