81R9432 JE-D
By: Villarreal H.B. No. 1939
A BILL TO BE ENTITLED
AN ACT
relating to the regulation of facilitators of tax refund
anticipation loans.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 352, Finance Code, is amended by adding
Section 352.0045 to read as follows:
Sec. 352.0045. WAIVER OF CERTAIN REQUIREMENTS. (a) If a
person will collect neither a fee nor interest for a refund
anticipation loan during the calendar year in which the person
seeks to act as a facilitator, a person may claim an exemption to:
(1) the registration processing fee under Section
352.003(a); and
(2) the Spanish-language printed loan contract
requirement under Section 352.004(c).
(b) To claim an exemption under Subsection (a), a person
must file an application. An exemption claimed under this section
is effective on the filing of the application.
(c) The finance commission shall adopt rules establishing
procedures for claiming an exemption under Subsection (a). The
rules must permit a facilitator to file a single application for an
exemption for all locations included on the list provided to the
commissioner under Section 352.003(a).
(d) The commissioner shall prescribe forms to apply for an
exemption under Subsection (a).
SECTION 2. Section 352.007, Finance Code, is amended to
read as follows:
Sec. 352.007. ADMINISTRATIVE PENALTY. (a) Except as
provided by Subsection (b), the [The] commissioner may assess an
administrative penalty of $500 against a person for each knowing
and wilful violation of this chapter.
(b) If the commissioner discovers that a person has wilfully
claimed an exemption under Section 352.0045(a) that the person was
not entitled to claim, the commissioner shall assess an
administrative penalty of $100 for each location for which the
person invalidly claimed an exemption.
SECTION 3. Chapter 351, Finance Code, as added by Chapter
135 (H.B. 1344), Acts of the 80th Legislature, Regular Session,
2007, is amended by adding Section 351.0045 to read as follows:
Sec. 351.0045. WAIVER OF CERTAIN REQUIREMENTS. (a) If a
person will collect neither a fee nor interest for a refund
anticipation loan during the calendar year in which the person
seeks to act as a facilitator, a person may claim an exemption to:
(1) the registration processing fee under Section
351.003(a); and
(2) the Spanish-language printed loan contract
requirement under Section 351.004(c).
(b) To claim an exemption under Subsection (a), a person
must file an application. An exemption claimed under this section
is effective on the filing of the application.
(c) The finance commission shall adopt rules establishing
procedures for claiming an exemption under Subsection (a). The
rules must permit a facilitator to file a single application for an
exemption for all locations included on the list provided to the
commissioner under Section 351.003(a).
(d) The commissioner shall prescribe forms to apply for an
exemption under Subsection (a).
SECTION 4. Section 351.007, Finance Code, as added by
Chapter 135 (H.B. 1344), Acts of the 80th Legislature, Regular
Session, 2007, is amended to read as follows:
Sec. 351.007. ADMINISTRATIVE PENALTY. (a) Except as
provided by Subsection (b), the [The] commissioner may assess an
administrative penalty of $500 against a person for each knowing
and wilful violation of this chapter.
(b) If the commissioner discovers that a person has wilfully
claimed an exemption under Section 351.0045(a) that the person was
not entitled to claim, the commissioner shall assess an
administrative penalty of $100 for each location for which the
person invalidly claimed an exemption.
SECTION 5. (a) Sections 1 and 2 of this Act take effect only
if the Act of the 81st Legislature, Regular Session, 2009, relating
to nonsubstantive additions to and corrections in existing codes
becomes law.
(b) Sections 3 and 4 of this Act take effect only if the Act
of the 81st Legislature, Regular Session, 2009, relating to
nonsubstantive additions to and corrections in existing codes does
not become law.
SECTION 6. This Act takes effect September 1, 2009.