LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 20, 2009 TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3302 by Kent (Relating to the fees charged by certain check-cashing businesses; providing penalties.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Finance Code by adding Chapter 158 and would establish a maximum fee a check-cashing business could charge in providing a check-cashing service. The Finance Commission would be able to adopt rules to implement the chapter and impose an administrative penalty against violators. Based on the analysis of the Department of Banking, Office of Consumer Credit Commissioner, and the Department of Savings and Mortgage Lending, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner LBB Staff: JOB, JRO, ACa
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 20, 2009
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3302 by Kent (Relating to the fees charged by certain check-cashing businesses; providing penalties.), As Introduced
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB3302 by Kent (Relating to the fees charged by certain check-cashing businesses; providing penalties.), As Introduced
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB3302 by Kent (Relating to the fees charged by certain check-cashing businesses; providing penalties.), As Introduced
HB3302 by Kent (Relating to the fees charged by certain check-cashing businesses; providing penalties.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Finance Code by adding Chapter 158 and would establish a maximum fee a check-cashing business could charge in providing a check-cashing service. The Finance Commission would be able to adopt rules to implement the chapter and impose an administrative penalty against violators. Based on the analysis of the Department of Banking, Office of Consumer Credit Commissioner, and the Department of Savings and Mortgage Lending, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would amend the Finance Code by adding Chapter 158 and would establish a maximum fee a check-cashing business could charge in providing a check-cashing service. The Finance Commission would be able to adopt rules to implement the chapter and impose an administrative penalty against violators.
Based on the analysis of the Department of Banking, Office of Consumer Credit Commissioner, and the Department of Savings and Mortgage Lending, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner
450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner
LBB Staff: JOB, JRO, ACa
JOB, JRO, ACa