Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2076 by Oliveira (Relating to the sale of a motor vehicle, motorboat, vessel, or outboard motor by a possessory lienholder.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Property Code relating to the sale of a motor vehicle, motorboat, vessel, or outboard motor by a possessory lien holder.
The bill would amend Sections 70.006 (e) and (f) to require a copy of the notice given under this Section to the owner or holder of a lien on a motor vehicle, motorboat, vessel, or outboard motor to be filed with the county tax assessor-collector's office. Currently, such notice is required to be mailed or published as provided by this Section. The bill would also amend Section 70.006(f) to stipulate the public sale of the motor vehicle, motorboat, vessel, or outboard motor could not take place before the 31st day after the date a copy of the notice was filed with the county tax assessor collector's office.
The bill would amend Section 70.006 (h) to require the county tax assessor-collector to provide notice, not later than the 15th business day after the date the county tax assessor-collector receives notice under this section, to the owner of the motor vehicle and each holder of a lien recorded on the certificate of title of the motor vehicle.
The bill would take effect September 1, 2015.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.