LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 8, 2009 TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3155 by Leibowitz (Relating to the expiration and abandonment of stored value cards.), As Introduced No significant fiscal implication to the State is anticipated. The bill would prohibit businesses from charging any fees associated with all gift cards, whether or not they expire. This provision would implement one of the recommendations in the Legislative Budget Board Government Effectiveness and Efficiency Report to the Eighty-first Legislature entitled Protect Texas Consumers by Strengthening Gift Card Laws. The bill would require retailers to transfer the unspent value of all gift cards to the state, regardless of whether or not they expire, on the earlier of the card's expiration date or three years after the card was issued. The bill would take effect September 1, 2009. The Comptroller could not estimate the revenue gain from this change but it is not expected to besignificant. 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 8, 2009
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3155 by Leibowitz (Relating to the expiration and abandonment of stored value cards.), As Introduced
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB3155 by Leibowitz (Relating to the expiration and abandonment of stored value cards.), As Introduced
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
HB3155 by Leibowitz (Relating to the expiration and abandonment of stored value cards.), As Introduced
HB3155 by Leibowitz (Relating to the expiration and abandonment of stored value cards.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would prohibit businesses from charging any fees associated with all gift cards, whether or not they expire. This provision would implement one of the recommendations in the Legislative Budget Board Government Effectiveness and Efficiency Report to the Eighty-first Legislature entitled Protect Texas Consumers by Strengthening Gift Card Laws. The bill would require retailers to transfer the unspent value of all gift cards to the state, regardless of whether or not they expire, on the earlier of the card's expiration date or three years after the card was issued. The bill would take effect September 1, 2009. The Comptroller could not estimate the revenue gain from this change but it is not expected to besignificant.
The bill would prohibit businesses from charging any fees associated with all gift cards, whether or not they expire. This provision would implement one of the recommendations in the Legislative Budget Board Government Effectiveness and Efficiency Report to the Eighty-first Legislature entitled Protect Texas Consumers by Strengthening Gift Card Laws.
The bill would require retailers to transfer the unspent value of all gift cards to the state, regardless of whether or not they expire, on the earlier of the card's expiration date or three years after the card was issued. The bill would take effect September 1, 2009.
The Comptroller could not estimate the revenue gain from this change but it is not expected to besignificant.
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