Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB1420 by Zaffirini (Relating to recovery of the funds of an estate delivered to the comptroller.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would change the method by which an heir, devisee, or an assignee of an heir or devisee would recover funds of an estate which were paid to the Comptroller in accordance with Chapter 551 of the Estates Code. It is assumed that implementation of the bill could be absorbed using existing resources. According to the Comptroller of Public Accounts, provisions of the bill could result in an increase in unclaimed property claims paid; however, the increase in payment of claims is not estimated to be significant.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General