Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB1429 by Deshotel (Relating to rights and remedies of certain residential tenants and landlords; providing civil penalties.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code and require a purchaser who buys a building with tenants at a foreclosure sale to give tenants at least 90 days written notice to vacate the premises. The bill could result in additional investigations and cases by the Office of the Attorney General within the Consumer Protection and Public Health Division. It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.