Honorable Jeff Leach, Chair, House Committee on Judiciary & Civil Jurisprudence
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB2246 by Wray (Relating to the fiduciary status of a directed trust advisor.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code to clarify the authority of an advisor with regards to trusts. Based on the analysis of the Office of Court Administration and the Secretary of State, duties and responsibilities associated with implementing the provisions of the bill could be accomplished using existing resources.
The bill would take effect September 1, 2019.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 307 Secretary of State