Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
SB142 by West (Relating to real property that is subject to restrictive covenants, including the operation of property owners' associations of subdivisions that are subject to restrictive covenants, and to certain foreclosure actions.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code relating to property owners' associations. Certain provisions of the bill would apply only to a property owners' association, which is not a governmental entity.
The bill would require the Supreme Court of Texas to adopt rules establishing expedited foreclosure proceedings in cases in which a property owners' association seeks to foreclose an assessment lien.
According to the Office of Court Administration (OCA), the bill is not anticipated to cause an increase in the workload of the courts.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council