TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB406 by Rodriguez (Relating to the disposition of excess proceeds of a tax sale of real property or foreclosure of a tax lien on real property.), As Engrossed |
The bill would amend Chapter 34 of the Tax Code, regarding tax sales of real property, to place additional restrictions on an owner's claim to excess proceeds resulting from a tax sale.
The bill would place additional restrictions on the assignment or transfer of an owner's interest, as well as limit participation by agents in the owner’s recovery.
The bill could have a slight effect on the allocation of excess proceeds between previous owners and taxing units. The bill could also slightly affect the recovery of some former owners.
The bill would take effect September 1, 2009.
Source Agencies: | 304 Comptroller of Public Accounts
|
LBB Staff: | JOB, MN, SD, SJS
|