Honorable Dustin Burrows, Chair, House Committee on Ways & Means
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB1652 by Huberty (Relating to the public resale by means of a public auction using online bidding and sale of property purchased by a taxing unit at an ad valorem tax sale.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend Chapter 34 of the Tax Code, regarding tax sales and redemption, to require that certain public auctions be conducted in accordance with the rules adopted providing for public auction using online bidding and sale.
The bill would not affect taxable property values, tax rates, collection rates, or any other variable that might affect the revenues of units of local governments or the state.
The bill would take effect immediately upon enactment, assuming it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2019.
Local Government Impact
No fiscal implication to units of local government is anticipated.