LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 14, 2009 TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1007 by Allen (Relating to the expiration and abandonment of a stored value card. ), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would eliminate expiration dates on gift cards. The bill would require retailers to transfer the unspent value of all gift cards to the state after three years of non-use (i.e., a three year dormancy period). The comptroller could not estimate the revenue gain from this change, but it is not expected to be significant. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, JRO, JI, RN
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 14, 2009
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1007 by Allen (Relating to the expiration and abandonment of a stored value card. ), Committee Report 1st House, Substituted
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB1007 by Allen (Relating to the expiration and abandonment of a stored value card. ), Committee Report 1st House, Substituted
Honorable Joe Deshotel, Chair, House Committee on Business & Industry
Honorable Joe Deshotel, Chair, House Committee on Business & Industry
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB1007 by Allen (Relating to the expiration and abandonment of a stored value card. ), Committee Report 1st House, Substituted
HB1007 by Allen (Relating to the expiration and abandonment of a stored value card. ), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would eliminate expiration dates on gift cards. The bill would require retailers to transfer the unspent value of all gift cards to the state after three years of non-use (i.e., a three year dormancy period). The comptroller could not estimate the revenue gain from this change, but it is not expected to be significant.
The bill would eliminate expiration dates on gift cards.
The bill would require retailers to transfer the unspent value of all gift cards to the state after three years of non-use (i.e., a three year dormancy period).
The comptroller could not estimate the revenue gain from this change, but it is not expected to be significant.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, JRO, JI, RN
JOB, JRO, JI, RN