HB 1011 - SB 1125
FISCAL NOTE
Fiscal Review Committee
Tennessee General Assembly
February 10, 2025
Fiscal Analyst: Arielle Woodmore | Email: arielle.woodmore@capitol.tn.gov | Phone: 615-741-2564
HB 1011 - SB 1125
SUMMARY OF BILL: Prohibits the operator of an online payment system from freezing
the funds of a user without first providing the user with a written notice. Requires the notice to be
provided to all users involved in the affected transaction. Requires the written notice to be
submitted to the user within 30 days of freezing the funds if the operator of the online payment
system suspects financial exploitation, fraud, or the violation of another law or regulation.
Establishes a violation of such as an unfair or deceptive act or practice under the Consumer Protection
Act of 1977.
FISCAL IMPACT:
NOT SIGNIFICANT
Assumptions:
• Any increase in the number of complaints handled by the Attorney General is estimated to
be not significant and can be handled by existing staff during normal work hours.
• Committing an unfair or deceptive practice under the Consumer Protection Act of 1977 is a
Class B misdemeanor offense.
• There will not be a sufficient number of violations for state or local government to
experience any significant increase in expenditures related to prosecutions or incarceration.
• Any additional workload on the courts can be accommodated within existing resources.
IMPACT TO COMMERCE:
NOT SIGNIFICANT
Assumption:
• Any impact to commerce or jobs in Tennessee is estimated to be not significant.
HB 1011 - SB 1125 2
CERTIFICATION:
The information contained herein is true and correct to the best of my knowledge.
Bojan Savic, Executive Director