Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1128 by Wray (Relating to the date and time for the public sale of real property.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend various sections of the Civil Practice and Remedies Code, the Property Code, and the Tax Code requiring the public sale of real property to be the first Tuesday of the month. If the first Tuesday is on January 1st or July 4th the public sale of real property must be held on the first Wednesday of the month between 10 a.m. and 4 p.m. This applies to sales using online bidding.
The bill would take effect September 1, 2017.
Local Government Impact
No fiscal implication to units of local government is anticipated.