Honorable Eddie Lucio, Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB1115 by Lucio (Relating to the authority of a county to adopt a land bank program.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to authorize counties to adopt a Land Bank program and specifies certain provisions related to the operation of these programs.
According to the Department of Housing and Community Affairs, no fiscal implication to the State is anticipated.
Local Government Impact
According to Harris County, the bill would not have a immediate significant fiscal impact to county expenses as the program could be operated with existing resources. The bill could generate expense savings over time due to reducing costs for administration and collections efforts.
The County estimates that the bill could have a favorable revenue outcome by turning non-performing taxable properties into performing taxable properties. This potential increase in revenue would depend on the length of time to place properties back on tax rolls in an unimproved state and the value of improvements then placed on the now vacant land.
According to the City of Houston, the bill would have no fiscal impact to the city.