Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1470 by Villalba (Relating to the public sale of real property under a power of sale in a security instrument.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code to address certain property transactions conducted pursuant to the power of sale afforded by a security instrument. The bill would not apply to a foreclosing mortgagee or mortgage servicer. Based on the analysis of the Office of Court Administration, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council