HBA-SEP S.B. 256 77(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 256 By: Carona Ways & Means 4/19/2001 Engrossed BACKGROUND AND PURPOSE Currently, taxing units absorb many costs associated with delinquent tax auctions or sales. Senate Bill 256 expands the definition of "costs," in regard to the recovery by a taxing unit of certain costs on the resale of property bid off to the unit at a tax foreclosure sale to include personnel and overhead costs reasonably incurred by the unit in connection with maintaining, preserving, safekeeping, managing, and reselling the property. 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 Senate Bill 256 amends the Tax Code to expand the definition of "costs," in regard to the recovery by a taxing unit on the resale of property bid off to the unit at a tax foreclosure sale, to include, personnel and overhead costs reasonably incurred by the unit in connection with maintaining, preserving, safekeeping, managing, and reselling the property. EFFECTIVE DATE On passage, or if the Act does not receive the necessary vote, the Act takes effect September 1, 2001.