Honorable Chris Turner, Chair, House Committee on Business & Industry
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB1059 by Stephenson (Relating to a seller's disclosure of the location of certain real property in a floodplain.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Property Code relating to seller's disclosure of real property in a floodplain. Based on information provided by the Texas Real Estate Commission, this analysis assumes that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. The Real Estate Commission is a self-directed semi-independent agency and thus does not receive state appropriations.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.