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.