TO: | Honorable Craig Estes, Chair, Senate Committee on Agriculture & Rural Affairs |
FROM: | John S O'Brien, Director, Legislative Budget Board |
IN RE: | HB612 by Hopson (Relating to the criminal penalty for failure of a trustee to pay the beneficiaries of the trust the purchase price for timber sold by the trustee.), As Engrossed |
No significant fiscal implication to the State is anticipated.
The bill would amend the Natural Resources Code as it relates to failure of a trustee to pay the beneficiaries of the trust the purchase price for timber sold by the trustee. Under current statute, the offense identified in the bill is punishable as a state jail felony. Under the provisions of the bill, punishment options would increase in severity based on the value of the timber sold. The offense would be punishable as a state jail felony if it is shown at the trial of the offense that the value of the timber sold is at least $500 but less than $20,000; punishable as a third degree felony if it is shown at the trial of the offense that the value of the timber sold is at least $20,000 but less than $100,000; punishable as a second degree felony if it is shown at the trial of the offense that the value of the timber sold is at least $100,000 but less than $200,000; and punishable as a first degree felony if it is shown at the trial of the offense that the value of the timber sold is at least $200,000.
The bill would take effect September 1, 2011 and apply only to an offense committed on or after the effective date of the Act.
Source Agencies: |
LBB Staff: | JOB, SZ, GG, LM, ADM
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