HBA-EDN, JLV H.B. 1083 77(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 1083 By: Thompson Judicial Affairs 2/26/2001 Introduced BACKGROUND AND PURPOSE Property owners will frequently grant a power of attorney to a spouse, another family member, or a third party. If a property owner files for bankruptcy the power of attorney is subsequently challenged. House Bill 1083 clarifies the statute to provide that a bankruptcy petition does not void a durable power of attorney, but stays its use until the bankruptcy is resolved. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS House Bill 1053 amends the Texas Probate Code to provide that after execution of a durable power of attorney, the filing of a bankruptcy petition in connection with the principal's debts does not revoke or terminate the agency as to the principal's attorney in fact or agent. Any act of the attorney in fact or agent with respect to the principal's property is subject to the limitations and requirements of the United States Bankruptcy Code until a final determination is made in the bankruptcy proceeding. EFFECTIVE DATE September 1, 2001.