BILL ANALYSIS |
C.S.H.B. 1128 |
By: Wray |
Business & Industry |
Committee Report (Substituted) |
BACKGROUND AND PURPOSE
Interested parties are concerned that attendance at public foreclosure auctions and other sales of real property is negatively affected when the sale, which currently must be held on the first Tuesday of a month, falls on New Year's Day or Independence Day. C.S.H.B. 1128 seeks to address this issue by shifting the date of certain property sales to the first Wednesday of the month if the first Tuesday occurs on January 1 or July 4.
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CRIMINAL JUSTICE IMPACT
It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
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RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
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ANALYSIS
C.S.H.B. 1128 amends the Civil Practice and Remedies Code to require a public sale of real property subject to a writ of execution to take place between 10 a.m. and 4 p.m. on the first Tuesday of a month or, if the first Tuesday of a month occurs on January 1 or July 4, between 10 a.m. and 4 p.m. on the first Wednesday of the month. The bill prohibits the Texas Supreme Court from amending or adopting rules in conflict with this requirement.
C.S.H.B. 1128 amends the Property Code to require a public sale at auction of real property under a power of sale conferred by a contract lien to be held between 10 a.m. and 4 p.m. on the first Wednesday of the month instead of the first Tuesday of a month if the first Tuesday occurs on January 1 or July 4.
C.S.H.B. 1128 amends the Tax Code to require a public sale of real property seized under a tax warrant or ordered sold pursuant to foreclosure of a tax lien, including a sale conducted by means of a public auction using online bidding and sale, to take place between 10 a.m. and 4 p.m. on the first Tuesday of a month or, if the first Tuesday of a month occurs on January 1 or July 4, between 10 a.m. and 4 p.m. on the first Wednesday of the month.
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EFFECTIVE DATE
On passage, or, if the bill does not receive the necessary vote, September 1, 2017.
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COMPARISON OF ORIGINAL AND SUBSTITUTE
While C.S.H.B. 1128 may differ from the original in minor or nonsubstantive ways, the following comparison is organized and formatted in a manner that indicates the substantial differences between the introduced and committee substitute versions of the bill.
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