Honorable Dustin Burrows, Chair, House Committee on Ways & Means
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB1642 by Miles (Relating to the authority of an owner of real property sold at a tax sale to transfer the owner's right of redemption to another person.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would amend Chapter 34 of the Tax Code, regarding tax sales and redemption, to provide that an owner of real property that is entitled to redeem property at a tax sale may not transfer the owner's right of redemption to another person. Any instrument purporting to transfer the owner's right of redemption would be void.
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.