Honorable Tracy O. King, Chair, House Committee on Agriculture & Livestock
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3663 by Burns (Relating to marketing contracts and agricultural liens.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend Texas Property Code, Section 70.4045(c) to exempt contract purchasers who purchase an agricultural crop from an agricultural producer pursuant to a marketing contract from the provisions of the section, which prioritize agricultural liens created under Texas Property Code, Chapter 70, Subchapter E over conflicting security interests or liens. The bill would take effect September 1, 2017.
Local Government Impact
No fiscal implication to units of local government is anticipated.