Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2066 by Oliveira (Relating to the rescission of nonjudicial foreclosure sales.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code relating to the rescission of a nonjudicial foreclosure sale of real property under a contract lien. The bill would authorize a civil action challenging the effectiveness of a rescission or claiming damages resulting from the rescission.
The Office of Court Administration reported no significant fiscal impact to the state court is anticipated.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 450 Department of Savings and Mortgage Lending