Honorable Cole Hefner, Chair, House Committee on Homeland Security, Public Safety & Veterans' Affairs
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB17 by Kolkhorst (Relating to the purchase or acquisition of an interest in real property by certain aliens or foreign entities; creating a criminal offense.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would prohibit certain governments, organizations, or individuals from designated foreign countries from acquiring real property in Texas. The Office of the Attorney General (OAG) would be authorized to investigated suspected violations and to bring an in rem action against real property for violations of the bill. The Secretary of State (SOS), on request from the OAG, would be required to serve interrogatories and provide all records related to the ownership or control of an organization subject to action by the OAG.
Any revenue impact would be dependent on the number of violations that would result in a fine being imposed. Because of the unknown number of violations that may occur, the revenue impact of the bill cannot be determined.
The OAG anticipates that any legal work resulting from the passage of this bill could be reasonably absorbed with current resources.
The SOS anticipates no significant fiscal impact to the agency.
No significant fiscal impact to the state court system is anticipated.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 307 Secretary of State